Globalstar, Inc. and its partner have amended their Partnership Agreements, with the partner making a prepayment of $252 million to Globalstar. The prepayment will be used to pay for satellite procurement, launch, insurance, and ancillary costs. The remaining satellite costs will be funded from Globalstar's operating cash flows. The prepayment will be recouped in installments over a period of 16 quarters. The company will be subject to certain covenants and the prepayment will be guaranteed by Thermo Funding II, LLC. The company must convert or refinance remaining loans and grant the partner a first-priority lien in its assets as conditions precedent to the prepayment funding.