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AETI > SEC Filings for AETI > Form 8-K on 22-Jun-2009All Recent SEC Filings

Show all filings for AMERICAN ELECTRIC TECHNOLOGIES INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for AMERICAN ELECTRIC TECHNOLOGIES INC


22-Jun-2009

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement

On June 19, 2009, the registrant executed the second amendment to its revolving credit agreement with JPMorgan Chase Bank, N.A. effective June 30, 2009, which contains the following revisions:

-the maturity date of any loans under the agreement has been extended one additional year until July 1, 2011;

-LIBOR rate advances will bear interest at an annual rate of 30 day LIBOR plus 2.25%;

-the commitment fee on the unused line will equal 0.30%; and

-the definitions for purposes of calculating the total liabilities to tangible net worth ratio were modified as well as the ratio itself. Such changes are not materially more restrictive than the existing ratio.


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