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LGL GROUP INC FILES (8-K) Disclosing Termination of a Material Definitive Agreement

September 4, 2014



Item 1.02. Termination of a Material Definitive Agreement.

On August 29, 2014, M-tron Industries, Inc. and Piezo Technology Inc., each a wholly owned subsidiary of The LGL Group, Inc. (the "Company"), paid off and terminated its $1.5 million revolving line of credit entered into on June 30, 2011, with JPMorgan Chase Bank, N.A. (the "Chase Revolving Loan"). The Chase Revolving Loan was secured by a $1.5 million cash collateral deposit which has been released. The Chase Revolving Loan was evidenced by a Master Loan Agreement, dated as of June 30, 2011, First Amendment to Master Loan Agreement, dated as of June 28, 2012, Second Amendment to Master Loan Agreement, dated as of September 28, 2012, Third Amendment to Master Loan Agreement, dated as of September 19, 2013, and Second Renewal Revolving Promissory Note, dated as of June 30, 2013. The Chase Revolving Loan was scheduled to expire on September 30, 2014.

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Source: Edgar Glimpses


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