Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.98
AIR T INC amended credit facility of Added Royal as a Borrower; term loan of $1,050,000 with Alerus Financial, National Association at not specified maturing not specified.
- Instrument
- credit facility
- Principal
- Added Royal as a Borrower; term loan of $1,050,000
- Counterparty
- Alerus Financial, National Association
- Rate
- not specified
- Maturity
- not specified
- Event
- amendment
Exact text from the filing
National Association (“Alerus”) and Royal and Air T entered into Amendment No. 4 to Credit Agreement and Consent (the “Amendment”) and Term Loan C with Alerus in the amount of $1,050,000. The purpose of the Amendment and Term Note was to provide a term loan to finance the full purchase price of the acquisition, to add Royal as a Borrower to the Alerus credit
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Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.98
AIR T INC incurred term loan of $1,050,000 with Alerus Financial, National Association at greater of 5% or CME one-month term SOFR rate plus 2.25% maturing May 15, 2030.
- Instrument
- term loan
- Principal
- $1,050,000
- Counterparty
- Alerus Financial, National Association
- Rate
- greater of 5% or CME one-month term SOFR rate plus 2.25%
- Maturity
- May 15, 2030
- Event
- incurrence
Exact text from the filing
In connection with the acquisition, Air’Zona Aircraft Services, Inc., AirCo Services, LLC, CSA Air, Inc., Global Ground Support, LLC, Jet Yard, LLC, Jet Yard Solutions, LLC, Mountain Air Cargo, Inc., Stratus Aero Partners, LLC, Worldwide Aircraft Services, Inc., Worthington Aviation, LLC (the “Borrowers”) under the Revolving Credit Agreement with Alerus Financial, National Association (“Alerus”) and Royal and Air T entered into Amendment No. 4 to Credit Agreement and Consent (the “Amendment”) and Term Loan C with Alerus in the amount of $1,050,000.
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