Veeco Instruments (VECO) Enters $100 Million Credit Agreement with HSBC

In Today\'s 8-K Filing From Veeco Instruments (Nasdaq: ): On August 20, 2007, Veeco entered into a Recognition Agreement with HSBC Depository Financial Institution USA, National Association, as administrative agent, and the loaners named therein. The New Recognition Agreement damages and restates, and effectively replaces, the anterior Recognition Agreement, dated as of March 15, 2005, among Veeco, HSBC and the loaners named therein. The New Recognition Agreement supplies for rotating recognition adoptions of up to $100.0 million. The yearly involvement charge per unit under the New Recognition Agreement is a floating charge per unit equal to the premier charge per unit of the agent bank. A LIBOR based involvement charge per unit option is also provided. Borrowings may be used for general corporate purposes, including workings working capital demands and acquisitions.