ORANGE COUNTY
From Times Staff and Wire Reports
Financial Restructuring at MAI: Tustin-based MAI Systems Corp. said it has obtained a waiver from its bank lenders that allows the computer software company to maintain a net worth of less than $25 million without triggering a default of its loan agreement. The company also said its lenders agreed to postpone until Oct. 4 a previous Sept. 30 deadline for a $6-million loan payment from MAI. The company said it is also holding discussions with its creditors to restructure its debt and will meet with bank lenders beginning next week.
