- Current report filing (8-K)
February 01 2010 - 2:48PM
Edgar (US Regulatory)
UNITES
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest
event reported): February 23, 1996
MET-PRO
CORPORATION
(Exact name of registrant
as specified in its charter)
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Pennsylvania
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001-07763
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23-1683282
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(State
or other jurisdiction of
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(Commission
File Number)
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(I.R.S.
Employer
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incorporation
or organization)
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Identification
No.)
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160
Cassell Road, P.O. Box 144
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Harleysville,
Pennsylvania
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19438
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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):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arangement of a Registrant.
(a)
Creation of a Direct Financial
Obligation
On
February 23, 1996, Met-Pro Corporation (the “Company”) entered into a Line of
Credit Note (the “Note”) with Mellon Bank (the “Bank”). Under the terms of
the Note, the Company promises to pay, $4,000,000, or such lesser or greater
principal amount as may be outstanding from time to time under the discretionary
line of credit. The interest rate of the Note is equal to the Bank’s
prime-based rate. The Note contains customary events of default, including
among others, nonpayment of principal and interest, breach of any covenant
contained in the Note and in the event the Company is involved in certain
insolvency proceedings. In the event of a default, all of the obligations
of the Company under the Note shall become due and payable. A copy of the
Note is filed as an exhibit hereto.
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: February
1, 2010
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MET-PRO
CORPORATION
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By:
/s/ Raymond J. De Hont
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Raymond
J. De Hont,
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President
and Chief Executive Officer
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Exhibit
Index
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Exhibit
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Description
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(10)(bd)
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