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SRI > SEC Filings for SRI > Form 8-K on 30-Apr-2009All Recent SEC Filings

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Form 8-K for STONERIDGE INC


30-Apr-2009

Entry into a Material Definitive Agreement


ITEM 1.01 Entry into a Material Definitive Agreement

On April 24, 2009, Stoneridge, Inc. (the "Company") entered into Amendment No. 1 ("Amendment 1") to the Credit and Security Agreement dated as of November 2, 2007 (the "Credit Agreement") by and among the Company as Borrower, the Lending Institutions Named Therein, as Lenders, National City Business Credit, Inc., Comerica Bank, JP Morgan Chase, PNC Bank, National Association and Fifth Third Bank, as lenders. Amendment 1 allows for the sale of certain accounts receivables owing from General Motors Corporation or Chrysler LLC to GM Supplier Receivables LLC ("GM SPV") and Chrysler Receivables SPV LLC ("Chrysler SPV"), in connection with the United States Department of Treasury Auto Supplier Program.

On April 29, 2009, the Company entered into Amendment No. 2 ("Amendment 2") of the Credit Agreement. Amendment 2 allows for accounts receivables owing from GM SPV or Chrysler SPV to the Company in its borrowing base under the Credit Agreement.

A copy of Amendment 1 and 2 are attached hereto as Exhibit 99.1 and 99.2, respectively.

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