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

On December 17, 2012, The Gorman-Rupp Company (the "Company") drew down $17,000,000 ("the Loan") under a new unsecured term loan agreement ("Loan Agreement") entered into with JP Morgan Chase Bank , N.A. The proceeds from the Loan were used to finance the acquisition of the assets and certain liabilities of American Turbine Companies ("ATP"). Copies of the Company's press releases announcing the planned acquisition and the completion of the acquisition are attached as Exhibit 99 to this report. The Loan bears interest at a variable rate equal to LIBOR plus 75 basis points, adjustable and payable monthly. Subject to any review and extension thereof, the Loan will mature on November 30, 2013. The Company's obligations under the Loan Agreement may be accelerated upon the occurrence of customary events of default; failure to comply with various customary compliance covenants and conditions contained in the Loan Agreement; cessation of Company operations; or a change of control.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit

(99) News release dated November 30, 2012 and news release dated December 21, 2012.

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