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ESYS > SEC Filings for ESYS > Form 8-K on 30-Oct-2012All Recent SEC Filings

Show all filings for ELECSYS CORP



Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligatio

Item 1.01 Entry into a Material Definitive Agreement.

On October 26, 2012, Elecsys Corporation (the "Company") entered into a Third Amendment to Secured Loan Agreement (the "Amendment") with UMB Bank, N.A. (the "Bank") pursuant to which the Company modified and amended certain terms of its Secured Loan Agreement with the Bank dated October 30, 2009, as amended October 21, 2010 and October 28, 2011 (the "Loan Agreement"). The Amendment extends the maturity date under the Loan Agreement one year to October 30, 2014 and removes the reference in the Loan Agreement to an interest rate floor. Except as expressly modified and amended by the Amendment, the terms and conditions of the Loan Agreement remain in full force and effect.

The foregoing summary of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, which is attached as an exhibit hereto.

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

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.

Item 9.01 Financial Statements and Exhibits

(d) EXHIBITS. The following exhibits are filed herewith:

Exhibit No. Description of Exhibit

10.1 Third Amendment to Secured Loan Agreement dated October 26, 2012 with UMB Bank, N.A.

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