The company was is in default of a covenant in their credit agreement. It was not a payment default- its referred to as a technical default. It is probably related to some ratio or related to the late filing of the 10Q.
In these circumstances, the lender would have a right to put them in actual default and, in theory, could accelerate the loan. That almost never happens with technical defaults.
Instead, the bank agreed to forebear (waive its rights under the loan agreement) in exchange for MLNK agreeing to paying them some fees and reducing the credit limit.
I just read it quickly so some facts could be off, but I think that's the jist. I doubt it will impact the stock.