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CRAY > SEC Filings for CRAY > Form 8-K on 13-Jul-2009All Recent SEC Filings

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Form 8-K for CRAY INC


13-Jul-2009

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01 Entry into a Material Definitive Agreement

On July 9, 2009, we amended our Credit Agreement with Wells Fargo Bank, National Association, effective as of June 1, 2009, to change the principal amount of the credit facility to $3,500,000 and to extend the maturity date to June 1, 2010. This facility may be used to provide foreign exchange contracts (with a potential exposure of no more than $2,500,000) and to support letters of credit (up to no more than $1,000,000 in aggregate). Under this amendment we are required to maintain at least $3,500,000 of cash, cash equivalents and similar investments to secure the facility and to maintain $3,500,000 of additional liquid assets.

A copy of the Fifth Amendment to the Credit Agreement is filed as Exhibit 10.1 to this Report.

Wells Fargo & Company, on behalf of two of its registered investment advisor subsidiaries, filed with the SEC a Schedule 13G on January 21, 2009, reporting beneficial ownership of 4,661,007 shares of our common stock as of December 31, 2008, which constituted approximately 13.7% of our outstanding common stock as of March 16, 2009. Wells Fargo & Company and its affiliates have no representation on our Board of Directors. The beneficial ownership interest in our common stock held by Wells Fargo & Company played no role in our decision to amend the Credit Agreement.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

10.1 Fifth Amendment to Credit Agreement, entered into as of June 1, 2009, between Wells Fargo Bank, National Association, and the Company.

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