Ford Assumes Obligations from Joint Venture and Enters New Loan Agreement with DOE

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Department of Energy (DOE) related to a Kentucky battery plant. Ford also entered into a Loan Arrangement and Reimbursement Agreement with DOE, which includes a loan of up to $3,805,040,000 with an interest rate of 4.814% per annum, requiring quarterly interest-only payments until January 15, 2030, and quarterly principal and interest payments from April 15, 2030, through July 15, 2040. The agreement contains various covenants and events of default, including material inaccuracies in representations, breach of covenants, and certain bankruptcy or ERISA events.

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