ITEM 1.01. Entry into Material Definitive Agreement.
Second Amended and Restated Credit Agreement On June 10, 2009, Flow International Corporation ("Flow" or the "Company") announced that it had entered into a new $40 million revolving secured credit facility. This replaces the credit facility that was entered into on March 10, 2009 and discussed in the Company's Form 8-k filed March 12, 2009. The new two-year credit facility expires on June 10, 2011. The new credit facility includes three primary financial covenants: consolidated senior leverage ratio, consolidated fixed charge coverage ratio and minimum consolidated adjusted EBITDA. Bank of America, N.A. served as Lead Agent and US Bank N.A. served as Documentation Agent. The syndicate also includes Wells Fargo Bank.
A copy of the Second Amended and Restated Credit Agreement and the press release is attached as Exhibit 10.1 and 99.1, respectively, to this Current Report on Form 8-K.
ITEM 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information disclosed above under Item 1.01 is incorporated herein by reference.
ITEM 9.01. Exhibits.
(d) Exhibits

Item No. Description
10.1 Second Amended and Restated Credit Agreement dated June 10, 2009

99.1 Press Release dated June 10, 2009

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