secwatch.observer — SEC 8-K summary
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Issuer:     AIR INDUSTRIES GROUP (AIRI)
CIK:        0001009891
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0001213900-23-065140
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air Industries amends loan with Webster Bank, waives Q1 default, eases covenant through Q3 2023
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- Fifth Amendment to loan agreement waives Event of Default for missing Fixed Charge Coverage Ratio in Q1 ended March 31, 2023.
- Required Fixed Charge Coverage Ratio reduced to 0.95:1 for Q2 and Q3 2023 (previously 1.25:1).
- Permitted purchase money secured debt (incl. capital leases) increased to $2,000,000 outstanding at any time.
- $10,000 amendment fee paid; all other terms of Loan Agreement unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1009891/000121390023065140/0001213900-23-065140-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1009891/000121390023065140/ea183027-8k_airindust.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-065140

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