exv10w4





Exhibit 10.4




			
	 	 	 
	
	 	UBS Bank USA




 KM 





IMPORTANT NOTICE ON INTEREST RATES AND PAYMENTS




	 	 	 	 	 	 	 	 	 
	Credit Line Account

	 	 	 	Account Number
	 	 
	ADVANCED ENERGY INDUSTRIES INC

	 	5V
	 	 	70498	 	 	EI
	 
	 	 	 	 	 	 	 	 
	Collateral Account

	 	 	 	Account Number
	 	 
	ADVANCED
ENERGY INDUSTRIES INC Attn: Jessica Anderson

	 	EI
	 	 	05686	 	 	EIJT





This document contains important information regarding the interest rate and interest payments on
your Credit Line. You should carefully review this Notice and your Credit Line Application and
Agreement, including the Addendum, (the “Agreement”) and speak to your Financial Advisor regarding
any questions or concerns you may have with your Agreement. Defined terms used in this Notice have
the respective meanings set forth in the Agreement unless defined in this Notice.



The Agreement provides you with a “no net cost” Credit Line. This means that the interest that you
pay on the Credit Line Obligations will not exceed the interest that you receive on the Auction
Rate Securities that you have pledged to the Bank as security for the Credit Line and which are
held in the Collateral Account. Although you may be able to capitalize interest you will not be
charged interest on interest.



The Credit Line statements that you receive from the Bank while the Credit Line is outstanding are
for information purposes only. The interest charge(s) on these statements are approximations due
to timing and systems limitations. You will receive a final
confirmation from the Bank of the
interest charged on the Credit Line. This does not change the “ no net cost” nature of the Credit
Line.



If you have Taxable Student Loan Auction Rate Securities pledged as Collateral you may not receive
an interest payment in months in which you are charged interest on the Credit Line. Certain
taxable student loan ARS made high interest rate payments to UBSFS investors for several months
during the first half of 2008, and then ceased making interest payments in subsequent months.
These taxable student loan ARS will not make any further interest payments until a future date
determined in accordance with the terms of the Auction Rate Securities. For the purpose of
determining loan interest payments for loans against these Taxable Student Loan Auction Rate
Securities, the high interest payments will be taken into consideration (and the interest rate
annualized). For example, you will be charged (i) for the period from the date of the Addendum
through and including January 21, 2009, the applicable coupon rate(s) on the Taxable Student Loan
Auction Rate Securities and (ii) from January 22, 2009 and thereafter you will be charged that
average annualized rate (e.g., T-bills plus 120 basis points), for each month in which your loan
is outstanding, including months for which the annualized interest was paid in a prior month and
for which no additional or current payment is being made to you.



Interest on the Credit Line accrues daily and is charged in accordance with the Bank’s regular
interest billing cycle. The Bank’s billing cycle may not be the same as the cycle on which the
Auction Rate Securities pay interest.



Please acknowledge your receipt and review of this Notice by signing below.




	 	 	 	 	 
	4-30-2009
	 	Larry Firestone, Chief Financial Officer/CFO
	 	/s/ Larry Firestone
	 
	 	 
	 	 
	Date
	 	Print Name and Title
	 	Signature






Date: 4-30-09




					
	 	 	 	 	 
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