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TRANSCAT INC FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

September 2, 2014



Item 1.01 Entry into a Material Definitive Agreement.

On August 26, 2014, Transcat, Inc. (the "Company") entered into Amendment 1 ("Amendment 1") to its $20 million secured revolving Credit Facility Agreement dated as of September 20, 2012 (the "Credit Agreement") with Manufacturers and Traders Trust Company.

The material terms of Amendment 1 to the Credit Agreement are as follows: Amendment 1 increases the funds available under the Credit Agreement from $20 million to $30 million, extends the maturity date from September 20, 2015 to September 20, 2018 and amends the definition of Permitted Acquisition to increase borrowings available for Acquisitions in any Fiscal Year (as both terms are defined in the Credit Agreement) from $10 million to $15 million.

All other material terms and conditions of the Credit Agreement remain unchanged.

Amendment 1 will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended September 27, 2014.

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 under Item 1.01 is incorporated herein by reference.

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Source: Edgar Glimpses


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