Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On August 20, 2009, Kellenberger & Co. AG, an indirect wholly owned subsidiary of Hardinge Inc. incorporated under the laws of Switzerland, entered into two new Credit Agreements with Credit Suisse. The first Credit Facility provides for borrowing of up to CHF 7,500,000, which can be used for: guarantees, documentetary credit, or margin cover for foreign exchange hedging activity concluded by Credit Suisse with maximum terms of 12 months. The interest rate, which is currently 1.2% per annum, is determined by Credit Suisse based on prevailing money and capital market conditions and the bank's risk assessment of the borrower. The second Credit Facility is a working capital facility which can provide for borrowing of up to CHF 5,000,000 and can be used as a limit for cash credits in the form of fixed advances in CHF and/or in any other freely convertible foreign currencies with maximum terms of up to 36 months. The interest rate, which is currently LIBOR plus 1.5% or 1.8% for a 90 day borrowing, is determined by Credit Suisse based on prevailing money and capital market conditions and the bank's risk assessment of the borrower. Both credit facilities are secured by the real property owned by Kellenberger. The agreements are also subject to a minimum equity covenant requirement where the minimum equity must be at least 35% of the balance sheet total assets. These two new agreements replaced the previous CHF 7,500,000 agreement with Credit Suisse. Indebtedness under both agreements is payable upon demand.

On August 26, 2009 Hardinge Inc. signed a renegotiated $3,000,000 unsecured Line of Credit with Chemung Canal Trust Company. Interest, which is variable, is based on the prime rate with a floor of 5.0% and a ceiling of 16%. This new Line of Credit formally replaces the previous $8,000,000 Master Note, which in September 2008 was reduced to $3,000,000. Indebtedness under the agreement is payable upon demand.

The foregoing description of the material terms of the Credit Agreements are qualified in their entirety by reference to the Credit Agreements which are filed as Exhibits to this Form 8- K.

Item 9.01 Financial Statements and Exhibits

The following exhibits are filed herewith:

10.1 Credit Agreement dated August 20, 2009 between Kellenberger & Co. AG and Credit Suisse in the amount of CHF 7,500,000.

10.2 Credit Agreement dated August 20, 2009 between Kellenberger & Co. AG and Credit Suisse in the amount of CHF 5,000,000.

10.3 $3,000,000. Line of Credit between Hardinge Inc. and Chemung Canal Trust Company.

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