---
schema_version: "secwatch.filing_event.v1"
accession: "0000908311-24-000057"
form_type: "8-K"
ticker: "CMCT"
cik: "0000908311"
company_name: "Creative Media & Community Trust Corp"
filed_at: "2024-10-29T23:59:59+00:00"
generated_at: "2026-05-30T09:32:22.358853+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CMCT obtains lender waiver for Sep 2024 covenant default; credit line cut to $169M; cash flow sweep imposed

## Summary
- Lenders waived an event of default for non-compliance with a financial covenant for the test period ending Sep 30, 2024.
- Aggregate commitments under the 2022 credit facility reduced from $206.2M to $169.3M.
- Starting April 1, 2025, excess cash flow from borrowing base properties must be deposited into a lender-controlled account.
- Modification agreement also amends borrowing base formula and permits release of Sacramento Sheraton Grand Hotel for refinancing.
- Waiver does not cover future periods; Dec 31, 2024 compliance not waived.

## SEC filing metadata
- accession: 0000908311-24-000057
- form_type: 8-K
- ticker: CMCT
- cik: 0000908311
- company_name: Creative Media & Community Trust Corp
- filed_at: 2024-10-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/908311/000090831124000057/0000908311-24-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/908311/000090831124000057/cmct-20241024.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000908311-24-000057
- JSON: https://secwatch.observer/filing/0000908311-24-000057.json
- Plain text: https://secwatch.observer/filing/0000908311-24-000057.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.