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CMT > SEC Filings for CMT > Form 8-K on 27-Mar-2013All Recent SEC Filings

Show all filings for CORE MOLDING TECHNOLOGIES INC | Request a Trial to NEW EDGAR Online Pro



Entry into a Material Definitive Agreement, Creation of a Direct Fi

Item 1.01 Entry into a Material Definitive Agreement.

On March 27, 2013, Core Molding Technologies, Inc. (the "Company") and its wholly owned subsidiary, CoreComposites de Mexico, S. de R.L. de C.V., entered into an eighth amendment (the "Eighth Amendment") to that certain Credit Agreement, dated as of December 9, 2008, as amended from time to time, with KeyBank National Association as a lender, lead arranger, sole book runner and administrative agent (as amended, the "Credit Agreement"). Pursuant to the terms of the Eighth Amendment, having an effective date of March 27, 2013, the parties agreed to modify certain terms of the Credit Agreement. These modifications included (1) an increase to the borrowing limit on the revolving line of credit from $8,000,000 to $18,000,000; (2) modification to the fixed charge definition to exclude capital expenditures of up to $18,000,000 associated with the Company's compression molding capacity expansion and any sheet molding compound manufacturing capacity expansion; (3) to extend the commitment period for the revolving line of credit to May 31, 2015; and (4) to cancel, effective immediately, the Mexican Expansion Revolving Loan which had a zero balance and was scheduled to expire on May 31, 2013.

The foregoing description is qualified in its entirety by reference to the Eighth Amendment, a copy of which is attached to this Form 8-K as exhibit 10.1 and is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosures contained above under Item 1.01 are incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

Exhibit 10.1

Eighth Amendment to Credit Agreement

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