Company: CVGI
Filing Date: 2025-06-30
Form Type: 8-K
Source: 0001628280-25-033528
Chunk: 1

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-06-30
Form: 8-K
Item: Item 1.01
Chunk 1
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 changes in accounting treatment or reporting practices; enter into certain restrictive agreements; enter into certain hedging agreements; engage in transactions with affiliates; enter into certain employee benefit plans; amend subordinated debt; and other matters customarily included in senior secured loan agreements. The Term Loan Agreement also contains customary reporting and other affirmative covenants.

The Term Loan Agreement contains customary events of default, including, without limitation, nonpayment of obligations under the Term Loan Agreement when due; material inaccuracy of representations and warranties; violation of covenants in the Term Loan Agreement and certain other documents executed in connection therewith; breach or default of agreements related to material debt; revocation or attempted revocation of guarantees; denial of the validity or enforceability of the loan documents or failure of the loan documents to be in full force and effect; certain material judgments; certain events of bankruptcy or insolvency; certain Employee Retirement Income Securities Act events; loss, theft, damage or destruction of collateral; and a change in control of the Company. Certain of the defaults are subject to exceptions, materiality qualifiers, grace periods and baskets customary for credit facilities of this type.

The Term Loan Agreement requires the Company to make mandatory prepayments (subject to reinvestment rights) with the proceeds of certain asset dispositions and upon the receipt of certain extraordinary payments (including, without limitation, insurance or condemnation proceeds, tax refunds, and judgments). In addition, the Company is required to make annual excess cash flow prepayments, and mandatory prepayments with proceeds of debt not permitted under the Term Loan Agreement.

Voluntary prepayment of amounts outstanding under the Term Loan Facility are permitted at any time, subject to a make-whole amount for first year immediately following the initial funding of the Term Loan Facility, a 4% premium for the second year and a 2% premium for the third year and the payment of customary breakage costs, if applicable.

A copy of the Term Loan Agreement is attached hereto as Exhibit 10.01 and is incorporated herein by reference. The foregoing description is qualified in its entirety by reference to the Term Loan Agreement.

Revolving Loan Agreement

On June 27, 2025, the Company and certain of its subsidiaries, as co-borrowers entered into a loan and security agreement (the “ Revolving Loan Agreement”) with Bank of America, N. A. as agent, and certain financial institutions as lenders, which agreement governs the Company’s revolving credit facility (the “ Revolving Credit Facility”) and amends and restates the Company’s