It is a bit difficult to tell, there are several types of waivers and it doesn’t define what type this is. Also, there are many provisions in these notes and the filing is not specific at all.
A loan waiver, which is what is typically meant when taking debts/waivers in a loan setting, is when the lender voluntarily relieves a borrower of the obligation or liability to repay the rest (or part) of the loan for a lump sum payment. I doubt that full satisfaction is what is happening here.
That said, since these are debts/notes (loans) and they are making $375,000 payments for the waivers - they have to be getting some breathing room/relief, but I wouldn’t think that that means after the payment on those those particular notes would be “satisfied”. Also, the lack of use of that word (“satisfied”) probably means that the company received some relief for the payments, but not close to forgiveness/satisfaction of the debt.
The two notes are discussed in “Note 7” of the latest 10-Q. They both have been amended several times and have many provisions and pay-back schemes. - so it could mean the waiver of any number of provisions….
since the company did not further elaborate we will have to wait for the next 10-Q to know more I think. However, for those kinds of payments, hopefully, we bought ourselves some more time here…
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