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| MNTX > SEC Filings for MNTX > Form 8-K on 13-Dec-2012 | All Recent SEC Filings |
13-Dec-2012
Entry into a Material Definitive Agreement, Creation of a Direct Fina
Company and Comerica Bank Amend the Credit Agreement to increase the Company's borrowing capacity:
Manitex International, Inc. (the "Company") currently has a U.S. credit facility with Comerica Bank ("Comerica"). On December 12, 2012, the Company and Manitex, Inc., a subsidiary of the Company, and Comerica executed Amendment No. 12 to the Second Amended and Restated Credit Agreement (the "Amendment") and Amendment to Revolving Credit Note. The amendment increases the Revolving Credit Maximum Amount from $27.5 million to $32.0 million and revises certain definitions and amounts used in calculating the borrowing base under the Credit Agreement including increasing the maximum eligible inventory collateral from $14.0 million to $16.0 million. Additionally, the Over Formula amount of $1.5 million included in the borrowing base will decrease by $0.5 million on each of the following dates: April 1, 2013, April 1, 2014 and April 1, 2015.
The amendment also increases the face of the Master Revolving Note dated June 29, 2011 by and between Manitex, Inc. and Comerica to $32.0 million.
In consideration for the above amendment Comerica received a non-refundable amendment fee in the amount of $22,500.
The above summary of the Amendment is qualified in its entirety by reference to a copy of the Amendment attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
The information included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
(a) Financial Statements of Businesses Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Shell Company Transactions.
Not applicable.
(d) Exhibits.
See the Exhibit Index set forth below for a list of exhibits included with this Current Report on Form 8-K.
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