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AIRI > SEC Filings for AIRI > Form 8-K on 3-Jul-2013All Recent SEC Filings

Show all filings for AIR INDUSTRIES GROUP, INC. | Request a Trial to NEW EDGAR Online Pro



Entry into a Material Definitive Agreement, Financial Statements and E

Item 1.01 Entry into a Material Definitive Agreement

On June 27, 2013, the subsidiaries of Air Industries Group, Inc., specifically, Air Industries Machining, Corp., Welding Metallurgy, Inc. and Nassau Tool Works, Inc., as primary obligors, entered into an Amended and Restated Revolving Credit, Term Loan and Security Agreement (the "Agreement") with PNC Bank, National Association, as Lender and Agent. Air Industries Group, Inc. (together with Air Industries Machining, Welding Metallurgy and Nassau Tool, the "Company") is party to the Agreement in its capacity as guarantor of the obligations of the primary obligors.

The Agreement amends in certain respects the terms of the Revolving Credit, Term Loan, Equipment Line of Credit and Security Agreement (as such has been amended, modified, supplemented and/or restated to the date hereof, the "Original Loan Agreement') entered into on November 30, 2005, between Air Industries Machining and PNC. The Agreement clarifies in certain respects the various amendments and modifications that have been made to made to the Original Loan Agreement to reflect the changes in the Company's business, modifies certain of the financial covenants which the Company must meet and reduces the rate of interest payable on the Company's Term Loan and Revolving Loans.

The Amended and Restated Revolving Credit, Term Loan and Security Agreement is annexed as an Exhibit to this Report on Form 8-K and the reader is directed to such Exhibit for the terms and conditions thereof.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1 Amended and Restated Revolving Credit, Term Loan and Security Agreement (the "Agreement") between the Company and PNC Bank, National Association, as Lender and Agent.
10.2 Revolving Credit Note
10.3 Term Note
10.4 Guarantor's Ratification by Air Industries Group, Inc.

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