Company: CVGI
Filing Date: 2025-06-30
Form Type: 8-K
Source: 0001628280-25-033528
Chunk: 2

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-06-30
Form: 8-K
Item: Item 1.01
Chunk 2
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 Existing Revolving Loan Agreement. The Company and each of its co-borrower subsidiaries are jointly and severally liable for all obligations arising under the Revolving Credit Facility and have granted liens in substantially all of their property to secure their respective obligations under the Revolving Loan Agreement and related documents. The Revolving Credit Facility matures on June 27, 2030.

In accordance with the terms of the Revolving Credit Facility the Company and the other named borrowers thereunder are entitled (subject to the terms and conditions described therein) to request loans and other financial accommodations in an amount equal to the

lesser of $115.0 million and a borrowing base composed of accounts and inventory. The Revolving Credit Facility comprises of a US subfacility of $100.0 million and a UK subfacility of $15 million, in each case subject to availability under the borrowing base. The US subfacility further has a first-in-last-out tranche equal to the lesser of $12.5 million and its borrowing base. The Company can increase the size of the revolving commitments thereunder by an incremental $50.0 million, subject to the consent of the lenders providing the incremental commitments. Up to an aggregate of $10.0 million is available to the Company and the other borrowers for the issuance of letters of credit, which reduces availability under the Revolving Credit Facility. Borrowings are available in US Dollars, Pounds Sterling and Euros.

Interest Rates and Commitment Fees

Amounts outstanding under the Revolving Loan Agreement accrue interest at a per annum rate based on SOFR, SONIA or EURIBOR, as applicable for the currency of the loan, with margins based on the average daily availability ranging from 1.50% if average daily availability > $50 million to 2.00% if average daily availability < $30 million. The interest rate shall initially be set at SOFR plus1.75%. The first-in-last-out tranche shall accrue interest at a 1% higher rate. At the Company’s option, interest may be paid at the base rate.

The Company will pay an unused fee to the lenders equal to 0.25% per annum of the unused amounts under the Revolving Credit Facility.

Covenants and Other Terms

The Revolving Loan Agreement includes a springing minimum fixed charge coverage ratio of 1.0:1.0, calculated when availability is less than the greater of $10.0 million and 10% of the revolver commitments.

The Revolving Loan Agreement contains customary restrictive