BusinessWeek has news that Midway Games has reached an agreement with holders of $75 million of convertible senior notes due in 2026 to extend their right to make the company buy back the notes until February 19. The recent sale of Midway triggered a provision that allowed those note holders to demand immediate repayment, which lead to speculation that Midway would be out of business in 30 days if this debt was not restructured; a 30 day period that concludes right around now. Midway also has other convertible notes that come due in 2025 with a similar provision, and are currently working towards a similar agreement with holders of those notes.