Gaylord gets loan waiver of defaults from stopped Opryland operations

By Sara Rosenberg

New York, May 24 - Gaylord Entertainment Co. entered into a waiver with its credit facility lenders regarding any default that may occur as a result of the stopping of operations at Gaylord Opryland Resort and Convention Center, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Operations at the Opryland Resort were ceased due to recent flood damage.

Bank of America is the administrative agent on the deal.

The waiver was effective on May 19 and expires on Dec. 31, 2010.

Gaylord is a Nashville, Tenn.-based diversified hospitality and entertainment company.

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