Rim Semiconductor Company (RSMI) has received a waiver from The Professional Offshore Opportunity Fund, Ltd. (“Professional”), one of the holders of the Company’s two-year 7% Senior Secured Convertible Debentures (the “2006 Debentures”) and the speaker of all lenders that allows Rim to pursue alternate financing to pay down, in whole or in part, an existing financing debt to Professional and the other lenders.
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