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Unique Fabricating gets extension of credit agreement repayment date
By Sarah Lizee
Olympia, Wash., Feb. 6 – Unique Fabricating NA, Inc. and Unique-Intasco Canada, Inc., units of parent Unique Fabricating, Inc., entered into a 10th amendment to their credit agreement with Citizens Bank, NA as administrative agent, according to an 8-K filed Friday with the Securities and Exchange Commission.
Among other things, the amendment extends the repayment date to Feb. 17 from Feb. 3.
On or before Feb. 14, the borrowers must deliver to the agent an executed refinancing term sheet with a counterparty that would provide enough proceeds to repay the loans and other debt in full on or before the repayment date, as well as evidence satisfactory to the agent that the parties to the term sheet have started to prepare definitive documentation needed to close the refinancing.
Failure to meet the milestone dates will constitute an event of default under the credit agreement.
The Auburn Hills, Mich., company makes foam, rubber and plastic components.
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