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KTEC > SEC Filings for KTEC > Form 8-K on 6-Jan-2014All Recent SEC Filings

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Form 8-K for KEY TECHNOLOGY INC


6-Jan-2014

Termination of a Material Definitive Agreement


ITEM 1.02. TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT

As of January 1, 2014, Key Technology, Inc. (the "Company") terminated the Credit Agreement between the Company and ABN AMRO Bank N.V. (the "Credit Agreement"), which originally became effective on December 23, 2010. The Credit Agreement totaled 1.75 million and included an operating line of 250,000 and a bank guarantee facility of 1.5 million. The Company had no borrowings and no material bank guarantees outstanding under the Credit Agreement as of the date of termination. The bank guarantee facility was replaced with a 3.0 million bank guarantee facility made available to the Company's Netherlands subsidiary pursuant to an amendment to the Company's domestic credit facility between the Company and Bank of America, N.A. The amendment to the Company's domestic credit facility became effective on May 28, 2013 and was filed as Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q filed on August 9, 2013.


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