Reaffirmation of $4,000,000 Discretionary Demand Line of Credit between Met-Pro Corporation and Lender (January 19, 2010)
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Summary
This agreement reaffirms a $4,000,000 discretionary demand line of credit provided to Met-Pro Corporation by the lender for the period from August 1, 2009, to July 31, 2010. Borrowings under this line are subject to mutually agreeable terms, ongoing review, and are evidenced by a prior promissory note. Advances are at the lender's discretion. The agreement is signed by Met-Pro's executives and the lender's representative.
EX-10.BE 2 mpr8k20100122exbe.htm REAFFIRMATION OF LINE OF CREDIT, DATED JANUARY 19, 2010 mpr8k20100122exbe.htm 
Exhibit (10)(be)
| Suite 300 | |
| 3025 Chemical Road | |
| Plymouth Meeting, PA 19462 |
January 19, 2010
Mr. Gary J. Morgan
Senior Vice President - Finance & CFO
Met-Pro Corporation
160 Cassell Road
Harleysville, Pa. 19438
Re: Demand Line of Credit
Dear Gary,
Please be advised that we have reaffirmed your Discretionary Demand Line of Credit in the amount of $4,000,000 from August 1, 2009 through July 31, 2010. Borrowings under the Line will be on mutually agreeable terms and conditions, and will be subject to review from time to time. Borrowings are evidenced by the Demand Promissory Note dated February 23, 1996 and advances will be available at our discretion.
Sincerely,
/s/ Dale R. Carr
Dale R. Carr
Senior Vice President
Agreed and Accepted this __19th__ day of _ Jan _ 2010.
| /s/ Raymond J. De Hont | /s/ Gary J. Morgan | ||
| Raymond J. De Hont | Gary J. Morgan | ||
| Chairman and CEO | Senior Vice President - Finance & CFO |
