Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
R F INDUSTRIES LTD entered into Amendment No. 3 to Loan Agreement with Bank of America, N.A. valued at Defers additional principal payment of $1.0 million from March 1, 2024 to April 1, 2024; reduces add (effective 2024-02-29).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Bank of America, N.A.
- Value
- Defers additional principal payment of $1.0 million from March 1, 2024 to April 1, 2024; reduces add
- Effective
- 2024-02-29
Exact text from the filing
On February 29, 2024, RF Industries, Ltd., a Nevada corporation (the “Company”) entered into Amendment No. 3 to Loan Agreement (“Loan Amendment No. 3”), effective as of February 29, 2024, with Bank of America, N.A. (the “Bank”), amending that certain Loan Agreement, dated as of February 25, 2022, between the Company and the Bank (as amended, the “Loan Agreement”), under which the Bank provided the Company with a $17 million term loan (the “Term Loan”) and a $3 million revolving credit facility (the “Revolving Credit Facility” and together with the Term Loan, the “Credit Facility”). Loan Amendment No. 3, among other matters, defers the requirement that the Company make an additional principal payment of $1.0 million on the Term Loan, from March 1, 2024, as was required under Amendment No. 2 to the Loan Agreement, entered into between the Company and the Bank on January 26, 2024 (“Loan Amendment No. 2”), to April 1, 2024.
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