Attached files
| file | filename |
|---|---|
| EX-10.BJ - ISDA SCHEDULE TO THE MASTER AGREEMENT - MET PRO CORP | mpr8k2010tcexbj.htm |
| EX-10.BI - ISDA MASTER AGREEMENT - MET PRO CORP | mpr8k2010tcexbi.htm |
| EX-10.BH - TRADE CONFIRMATION - MET PRO CORP | mpr8k2010tcexbh.htm |
UNITES
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest
event reported): October 12, 2005
MET-PRO
CORPORATION
(Exact name of registrant as specified in its charter)
(Exact name of registrant as specified in its charter)
|
Pennsylvania
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001-07763
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23-1683282
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|
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(State
or other jurisdiction of
|
(Commission
File Number)
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(I.R.S.
Employer
|
|
|
incorporation
or organization)
|
Identification
No.)
|
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160
Cassell Road, P.O. Box 144
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|||
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Harleysville,
Pennsylvania
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19438
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||
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s telephone number, including area code: (215) 723-6751
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
|
o
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item
2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arangement of a Registrant.
|
(a)
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Creation of a Direct
Financial Obligation
|
On
October 12, 2005, Met-Pro Corporation (the “Company”), in relation to the
financing for the expansion of the Company’s Fybroc Division plant in Telford,
Pennsylvania, entered into a fifteen-year interest rate swap agreement with
Brown Brothers Harriman & Co. with an initial notional amount of $3.5
million. The Company entered into the swap agreement in order to
hedge its exposure against interest rate fluctuations. The executed
swap provided the Company with a fixed rate of 4.87% while the Financing
Agreement dated December 30, 2005 contained a floating rate equal to the greater
of (i) the LIBOR Rate less the LIBOR Adjustment of 0.16% (16 basis points) and
(ii) 2.50%. The swap agreement terminates on April 6,
2021.
The
swap agreement contains customary events of default and termination including,
among other things, failure to pay or deliver; breach of agreement; credit
support default; misrepresentation; bankruptcy; and illegality. If
any event of default or termination under the swap agreement occurs amounts
payable, including interest accrued thereon, shall become due and payable
immediately.
A
copy of the Trade Confirmation, ISDA Master Agreement, and ISDA Schedule to the
Master Agreement are attached as exhibits and incorporated by reference
herein.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Date: March
12, 2010
| MET-PRO CORPORATION | |
| By: /s/ Raymond J. De Hont | |
| Raymond J. De Hont, | |
| President and Chief Executive Officer | |
Exhibit
Index
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Exhibit
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Description
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| (10)(bh) | |||
| (10)(bi) | |||
| (10)(bj) |