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TVIN » Topics » Item 1.02 Termination of a Material Definitive Agreement

This excerpt taken from the TVIN 8-K filed Nov 1, 2006.

Item 1.02 Termination of a Material Definitive Agreement

On October 31, 2006, TVI terminated its Credit and Security Agreement with Bank of America, N.A. (“BOA”) and arranged for a release of the security interests held by BOA in connection with the facility. The Credit Agreement provided for a revolving credit facility in the maximum principal amount of $10 million.

TVI had not requested any advances under the BOA credit facility except for the issuance of certain letters of credit. As of October 27, 2006, two letters of credit issued by BOA remained outstanding in the combined face amount of $118,743.

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