Clearfield, Inc. amended its loan agreement with Old National Bank to extend the $40 million credit line maturity from April 25, 2026 to July 24, 2026.
Key takeaways
The maturity date for the $40 million revolving credit line was extended to July 24, 2026.
The amendment incorporates updated interest provisions based on SOFR plus an applicable margin of 1.85%.
New events of default were added, including provisions for Material Adverse Change and cross-default.
A jury trial waiver was added for judicial proceedings arising out of the agreement.