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WEDC > SEC Filings for WEDC > Form 8-K on 7-Apr-2009All Recent SEC Filings

Show all filings for WHITE ELECTRONIC DESIGNS CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for WHITE ELECTRONIC DESIGNS CORP


7-Apr-2009

Entry into a Material Definitive Agreement


ITEM 1.01. Entry Into a Material Definitive Agreement
On March 31, 2009, the Company entered into its Third Modification Agreement ("Third Amendment") of its $30.0 million line of credit with JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA) dated April 3, 2007. The amendment reduces the line from $30.0 million to $10.0 million and extends the maturity date to March 31, 2011. In addition, this Third Amendment makes certain other adjustments to (i) the interest rates charged in connection with borrowings under the line of credit, (ii) the commitment fee charged on the unused portion of the line, and (iii) certain financial covenants and certain restricted payments. The above description of the Third Amendment is qualified in its entirety by reference to the terms of the Third Amendment attached hereto as Exhibit 10.1 and incorporated herein by reference. ITEM 9.01. Financial Statements and Exhibits
(d) Exhibits

Exhibit Number   Description

10.1             Third Amendment to Credit Agreement line of credit with JPMorgan Chase
                 Bank, N.A., dated as of March 31, 2009


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