Air Industries gets Webster Bank waiver on two defaults, extends loan to March 2026

AIR INDUSTRIES GROUP

Webster Bank waived defaults for failing fixed charge coverage ratio Q2 2025 and exceeding FY2025 capex limit.
Maturity date of revolving credit and term loans extended to March 31, 2026.
New financial covenants: minimum fixed charge coverage ratio 1.10x and annual capex cap of $3.3M.
Amendments cost a $40,000 non-refundable fee payable at signing.

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