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 | 001-07763 | 23-1683282 | |
| (State or other jurisdiction of | (Commission File Number) | (I.R.S. Employer | |
| incorporation or organization) | | Identification No.) | |
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| 160 Cassell Road, P.O. Box 144 | | | |
| Harleysville, Pennsylvania | | 19438 | |
| (Address of principal executive offices) | | (Zip Code) | |
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 | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | 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)) |
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
| | MET-PRO CORPORATION |
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| | By: /s/ Raymond J. De Hont |
| | Raymond J. De Hont, |
| | President and Chief Executive Officer |
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Exhibit Index
| | Exhibit | | Description |
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| | (10)(bd) | | |
