Culp amends credit agreement, waives EBITDA covenant for FY2023, imposes $15M liquidity minimum

CULP INC

EBITDA-to-interest expense covenant suspended for fiscal quarters ending July 2022, Oct 2022, Jan 2023, Apr 2023.
New liquidity covenant requires minimum $15M of unencumbered liquid assets plus available revolver borrowings.
Amendment fee of $5,000 paid to Wells Fargo; all other credit terms unchanged.
Borrower reaffirms representations and warranties; certifies no event of default exists.

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