<DOCUMENT>
<TYPE>EX-4.7
<SEQUENCE>6
<FILENAME>ex4_7.txt
<DESCRIPTION>CREDIT LINE AGREEMENT DATED 6/15/04
<TEXT>


                                                                     EXHIBIT 4.7


TAT Credit Line Agreement


                              CREDIT LINE AGREEMENT
                              ---------------------

This Credit Line Agreement (the "Agreement") is made as of the 15th day of June,
2004 BY AND BETWEEN

(1) TAT  Technologies  Ltd. (the  "Company"),  an Israeli public company,  whose
shares are traded on Nasdaq, having its registered office at the Industrial Zone
Yasur, Gedera, Israel; and

(2) TA-TOP, Limited Partnership ("TATOP")  (Registration Number:  550216964),  a
limited  partnership  wholly  owned by (x) TA-TEK Ltd.,  the General  Partner of
TATOP, an Israeli private company,  wholly owned by FIMI Opportunity Fund, L.P.,
a limited partnership formed under the laws of the State of Delaware, and by (y)
FIMI  Israel  Opportunity  Fund,  Limited  Partnership,  a limited  partnership,
registered in Israel (the "Opportunity Fund").

                                     RECITAL
                                     -------

WHEREAS, the Company has requested that TATOP make available to the Company, and
TATOP has agreed to make available to the Company, a line of credit (the "Credit
Line"),  all upon the terms and  conditions  more fully set forth herein,  which
Credit Line shall come into effect as of the Closing (as such term is defined in
that certain Share Purchase  Agreement (the "SPA"))  entered into by the Company
and TATOP on the date hereof).

     THEREFORE, in consideration of the foregoing, the parties,  intending to be
legally bound, agree as follows:

1.   CREDIT LINE
     -----------

Upon the terms and subject to the  conditions set forth in this Agreement and on
the basis of the  representations  and  warranties  set forth in the SPA  (which
representations  and  warranties  shall  survive the Closing and shall remain in
effect  until the  second  anniversary  of the  Closing on which date they shall
expire and be of no force and effect for all intents and purposes, including for
the purpose of this  Agreement.  TATOP agrees to make  available to the Company,
effective  as of the  Closing  Date (as such term us  defined  in the SPA),  the
Credit Line, all upon the following terms and conditions:

     (i)  General.  The  aggregate  amount of Credit Line  provided by TATOP and
available  to be drawn upon by the Company  shall be US$2  million  (the "Credit
Amount").

     (ii) Single  Installment.  The Company shall be entitled to draw any amount
up to the Credit Amount in a one-time single installment. The amount to be drawn
(the "Loan"),  shall be in the amount set forth in the Disbursement  Request (as
defined  below)  and shall be  delivered  to TATOP,  against  the  receipt  of a
non-assignable  note (the "Note")  executed by the Company to the order of TATOP
only, in the form attached hereto as Exhibit A.




<PAGE>


                                        2


TAT Credit Line Agreement


Notwithstanding  anything to the  contrary  contained  herein,  no amount may be
drawn on the Credit Line if: (a) one or more of the Events of Default  described
in Section  3(a) below has  occurred;  or (b) the average  closing  price of the
Company's  Ordinary  Shares as recorded  on the Nasdaq  over the 90  consecutive
trading days prior to the Request Date (as defined below) is lower than US$5.00,
or (c) the closing  price of the  Company's  Ordinary  Shares as recorded on the
NASDAQ at any time during the 30  consecutive  trading days prior to the Request
Date is lower than US$2.06.

For the  avoidance  of  doubt,  it is  hereby  underlined  that  this  Agreement
constitutes a binding and,  except as expressly  set forth  herein,  independent
obligation (including, but not limited to, the obligation to provide the Loan at
the request of the Company in  accordance  with the terms  contained  herein) of
TATOP enforceable against TATOP, and shall not be affected by whether or not, at
any time, TATOP holds any shares of the Company or the circumstances  (including
in the financial markets) will be changed for any reason. TATOP. may not set off
or hold the Credit Amount for any reason.

     (iii) Disbursement Request. The Loan shall be made available to the Company
by no later than 14 business days  following the date on which TATOP  receives a
written  disbursement  request (the  "Disbursement  Request")  from the Company,
which  request  shall state the amount  which the Company  elects to borrow from
TATOP,  provided that such amount shall not be less than  US$1,000,000 and shall
not exceed the Credit  Amount.  The date on which such  Disbursement  Request is
delivered to TATOP shall be referred to herein as the "Request Date".

The Disbursement Request may be delivered to TATOP by no later than 14 business
days prior to the termination of the Availability Period (as defined below).

     (iv)  Credit  Line Term.  The  Credit  Line will be made  available  to the
Company as of the  Closing and for a period of 54 months  following  the Closing
(the "Availability Period"); provided, however, that upon the making of the Loan
in  accordance  with the  Disbursement  Request,  any balance of the Credit Line
remaining and not drawn upon shall be terminated and,  provided,  further,  that
the Company may, at any time during the Availability  Period, by providing TATOP
with a 30-day prior written notice, (a) terminate the Credit Line, or (b) reduce
the Credit Line (provided that, unless terminated,  the Credit Line shall remain
in an amount of at least US$1  million),  in which  cases,  the Credit  Line Fee
(described  below) shall be reduced,  effective as of the actual  termination of
the 30 day period set forth above.

     (v) Loan Term. The term of the Loan shall commence on the date on which the
Loan is actually granted to the Company (the "Loan Date") and shall terminate at
the end of the sixty six (66) month period following the date of the Closing.

     (vi)  Interest.  The annual rate of interest shall be fixed at 5% and shall
be compounded  annually on the outstanding  principal of the Loan as of the Loan
Date and until payment in full of the outstanding principal of the Loan pursuant
to the provisions  contained  herein.  Interest on the Loan shall be computed on
the basis of a 365-day year.

     (vii) Payment of Interest.  Interest  shall be paid on the last day of each
quarter, commencing as of the Loan Date, with each payment being supplemented by
applicable value added tax against delivery of a tax invoice.





<PAGE>


                                        3


TAT Credit Line Agreement


     (viii)  Payment of  Principal.  Subject to the Event of Default  provisions
described  below, the principal amount of the Loan shall be repaid in four equal
installments  in equal  intervals  (subject to the following  provisos) over the
period  commencing on the Loan Date and  terminating at the end of the sixty six
month  period  following  the date of the  Closing;  provided  that no return of
principal  shall be due  before  the  termination  of 30  months  following  the
Closing; and provided,  further, that the first installment shall not become due
and payable  prior to the first  anniversary  of the Loan Date and the remaining
three  installments  shall be paid in equal intervals with the last  installment
being payable upon the termination of the aforementioned sixty six month period.

     (ix)  Prepayment.  On each interest  payment date,  the Company may prepay,
without  incurring  any  penalty or charge  amounts  due on account of the Loan;
provided, however, that each prepayment amount shall be in an amount of at least
US$100,000,  and  provided  further  that the Company has given TATOP an advance
written  notice of each such  prepayment  by no later than 30 days prior to such
interest payment date.

     (x) Currency; Manner of Payment. The delivery of the Loan to the Company by
TATOP and all payments that are to be paid to TATOP by the Company,  pursuant to
this Agreement,  shall be paid in US Dollars.  Payment to be made to TATOP shall
be  transferred  to TATOP's bank  account,  as shall be designated by TATOP from
time to time in a written notice delivered by TATOP to the Company.  The Company
shall make such payments to such bank account by  initiating  such payments on a
banking  day,  before  11.00  a.m.,  Israel  time,  by  bank  wire  transfer  in
immediately available funds, marked for attention as indicated.

     (xi)  Credit Line Fee. As of the Closing and for so long as the Credit Line
is  outstanding,  the  Company  shall  pay  TATOP  a fee  equal  to  0.5% of the
outstanding  Credit  Amount per annum  (subject to reduction  during the year in
accordance with the provisions of sub-Section (iv) above). The first Credit Line
Fee  shall be paid at the  Closing  and  shall  apply  to the  first  full  year
following the Closing.  Thereafter,  upon each  anniversary of the Closing,  the
Credit Line Fee shall be paid in advance  with respect to the annual (or, on the
fifth   anniversary,   the   semi-annual)   period   commencing  on  such  date.
Notwithstanding  the above,  should the Company elect to reduce the Credit Line,
in accordance  with the provisions of sub-Section  (iv) above,  then TATOP shall
promptly  reimburse  the Company  for the surplus  Credit Line Fee that had been
paid for the period after the reduction becomes effective.


2.   FINANCIAL COVENANT OF THE COMPANY FOLLOWING THE CLOSING
     -------------------------------------------------------

2.1. Financial Covenant.  As of the Closing and for so long as either the Credit
     Line or the Loan (if provided) is outstanding,  the shareholders' equity of
     the Company (the  "Equity")  shall not be less than US$25 million and shall
     not  represent  less than 50% of the  "total  assets" of the  Company  (the
     "Financial  Covenants");  provided,  however,  that (i) any decrease in the
     Equity  resulting from a one-time  deduction or the deduction over a period
     of time of goodwill (or any different accounting term which may at the time
     apply  to  what is  currently  referred  to as  "goodwill")  following  the
     consummation  by the Company or any of its  subsidiaries  of any investment
     transaction  (involving  the  acquisition of securities or assets) or other
     similar transaction approved by



<PAGE>


                                       4


TAT Credit Line Agreement


     one of the  directors  designated by TATOP to the Board of Directors of the
     Company (excluding,  for the avoidance of doubt, the Independent Director),
     and (ii) any deduction for accounting  purposes resulting from the issuance
     of the  Warrant  under the  Warrant  Agreement  (as  defined in the SPA) to
     TATOP, shall correspondingly reduce the number and the percentage set forth
     in this financial covenant.

2.2. Non-Compliance  with  Financial  Covenant.   If,  based  on  the  Company's
     financial  statements for the respective  year or quarter,  as the case may
     be, the Company does not comply with the Financial  Covenants,  then unless
     the  Company,  within  60 days  following  the  release  of the  applicable
     financial  statements  (and, in the event the Loan is  outstanding,  during
     which period, a Default Notice (as defined below) shall have been delivered
     to the Company in accordance with the provisions of Section 3(c) below) (i)
     raises  sufficient  funds from its  shareholders  or from third  parties or
     takes such other reasonable actions to cure such  non-compliance,  and (ii)
     provides TATOP with a letter from the Company's  auditors  confirming  that
     the actions taken by the Company have cured such  non-compliance,  the Loan
     (if previously  granted) and all amounts accrued thereon may be declared by
     a 10 day written notice  immediately  due and payable and, if not yet cured
     during such 10 days, will be callable by the Company.

2.3  For the  purpose  of  clarity  it is hereby  clarified  that the  Company's
     non-compliance with the Financial  Covenants,  which is not be cured by the
     Company in accordance  with the  provisions  set forth in Section 2.2 above
     shall  not  grant  TATOP.  any  right or  relief  under  applicable  law or
     agreement  other  than the  right of  acceleration  of all  amounts  due on
     account of the Loan, as more fully set forth in Section 2.2 above.

2.4. For purposes of this Section 2, the Company's Equity and total assets shall
     be determined  based on the  Company's  consolidated  financial  statements
     which  (i)  with  respect  to  the  Company's  annual,   audited  financial
     statement, will be prepared in accordance with United States GAAP, and (ii)
     with respect to the Company's  quarterly  unaudited but reviewed  financial
     statements, will be prepared in accordance with Israeli GAAP.

3.   EVENTS OF DEFAULT AND REMEDIES THEREFOR
     ---------------------------------------

     (a)  Events of Default.  Any one or more of the following shall  constitute
          an "Event of Default" as the term is used herein:

          (1)  Any default in the payment of  principal  or interest on the Loan
               when  due,  which  default  shall  continue  for more than 5 days
               following the delivery of written notice by TATOP to the Company.

          (2)  The Company is generally not paying its debts as they become due,
               or makes an assignment of its substantial  assets for the benefit
               of creditors,  or applies for or consents to the appointment of a
               trustee or receiver for or over all the assets of the Company



<PAGE>


                                        5


TAT Credit Line Agreement


               or a substantial part thereof.

          (3)  Any  representation  or warranty made or furnished by the Company
               in the SPA,  including in all Exhibits and schedules  thereto and
               documents referred to in the Exhibits and schedules  thereto,  is
               found to be untrue in any material  respect (which,  for purposes
               of this Agreement shall be deemed to refer to claims of aggregate
               damages to TATOP of at least US$500,000) as of the date set forth
               above and the date of the Closing; provided,  however, that as of
               the second anniversary of the Closing, this Section 3(a)(3) shall
               be terminated and shall no longer have any force and effect;

          (4)  A Liquidator, trustee or receiver is appointed for or over all of
               the assets of the Company or a  substantial  part  thereof and is
               not discharged within 90 days after such appointment; or

          (5)  Liquidation,  reorganization,  arrangement,  insolvency  or other
               similar  proceeding  under the  Companies  Law for the  relief of
               debtors,  is  instituted  by  or  against  the  Company  and,  if
               instituted  against  the  Company,  is  consented  to or  is  not
               dismissed within 90 days of such institution.

     (b)  Notice  to TATOP.  When any  Event of  Default  described  in  Section
          3(a)(other than an Event of Default  described in Section 3(a)(1)) has
          occurred,  the Company  shall give TATOP a written  notice within five
          business days of its becoming aware such event.

     (c)  Acceleration  of  Maturities.  When any Event of Default  described in
          Sections  3(a)(1)  through  3(a)(3),  inclusive,  of Section  3(a) has
          happened and is continuing,  TATOP may, by notice in writing (which in
          the case of an Event of Default described in Section 3(a)(3) shall not
          be less than 14 days)  (the  "Default  Notice")  sent to the  Company,
          declare the Loan due and payable,  without any additional presentment,
          demand,  protest or other notice of any kind,  all of which are hereby
          expressly waived.

          When any  Event  of  Default  described  in  3(a)(4)  or  3(a)(5)  has
          occurred,  then the Loan  shall  immediately  become  due and  payable
          without  presentment,  demand or notice of any kind,  all of which are
          hereby expressly  waived.  Upon the Loan becoming due and payable as a
          result  of any  Event  of  Default  as  aforesaid,  the  Company  will
          forthwith  pay to TATOP all  principal of and interest  accrued on the
          Loan,  together  with  applicable  value  added tax,  if any,  against
          delivery of a tax invoice.

          Such amounts  shall be  supplemented  by additional  interest  accrued
          thereon  at an  annual  rate of 3% from  the date  when  the  Event of
          Default has occurred and until the payment date. Neither any course of
          dealing  on the part of TATOP nor any delay or  failure on the part of
          TATOP to exercise any right shall operate as a waiver of such right or
          otherwise  prejudice TATOP' rights,  powers and remedies.  The Company
          further



<PAGE>


                                        6


TAT Credit Line Agreement


          agrees,  to the extent  permitted by law, to pay TATOP all  reasonable
          expenses incurred by it in the  implementation  of its rights,  powers
          and remedies under this Section 3.

4.   MISCELLANEOUS
     -------------

     (a)  Exhibits. The Exhibits attached to this Agreement constitute a part of
          this Agreement.  They are  incorporated  herein by reference and shall
          have the same  force  and  effect  as if set forth in full in the main
          body of this Agreement.

     (b)  Governing Law; Forum for Dispute  Resolution.  This Agreement shall be
          governed by the laws of the State of Israel. Any dispute arising under
          or with respect to this Agreement shall be resolved exclusively in the
          appropriate court in Tel Aviv, Israel.

     (c)  Notices.

          All notices  required or  permitted  hereunder  to be given to a party
          pursuant to this Agreement  shall be in writing and shall be deemed to
          have been duly given to the addressee  thereof (i) if hand  delivered,
          on the day of delivery,  (ii) if given by facsimile  transmission,  on
          the business  day on which such  transmission  is sent and  confirmed,
          (iii) if given by air courier, two business days following the date it
          was  sent  or  (iv) if  mailed  by  registered  mail,  return  receipt
          requested,  five  business days  following the date it was mailed,  to
          such  party's  address as set forth below or at such other  address as
          such party  shall  have  furnished  to each other  party in writing in
          accordance with this provision:

          if to the Company:  TAT Technologies Ltd.
                              Yasur Industries Zone , Gedera
                              PO. Box 80 70750
                              Tel: ____________________
                              Fax: ____________________

          With a copy to:     Adv. J. Zaltzman
                              J. Zaltzman & Co. 6 Hahilazon
                              Street, Ramat-Gan 52522 Facsimile:
                              03-6111801

          if to TATOP:        c/o Ta-Tek Ltd., as general partner of TATOP
                              c/o FIMI 2001 Ltd.
                              "Rubinstein House"
                              37 Petach Tikva Road
                              Tel: 03-5652244
                              Fax: 03-5652245

          With a copy to:     Sharon Amir, Adv.
                              Naschitz, Brandes & Co.


<PAGE>


                                        7


TAT Credit Line Agreement


                              5 Tuval Street
                              Tel-Aviv 67897
                              Israel
                              Facsimile: +972-3-623-5021

     Each party may from time to time  change the address or fax number to which
notices to it are to be  delivered or mailed  hereunder  by notice  delivered or
sent to the other party in  accordance  herewith;  provided,  however,  that any
notice of change of address shall be deemed effective only upon its receipt.

     (d)  Entire  Agreement.   This  Agreement   together  with  all  other  TAT
Transaction  Documents (as defined in the SPA)  constitute the entire  agreement
among the parties regarding the transactions contemplated herein, and may not be
amended except by written instrument, executed by both parties.

     (e)  Headings.  The  headings  contained in this  Agreement  are solely for
convenience  of  reference  and  shall not  affect  the  interpretation  of this
Agreement.

     (f)   Counterparts.   This  Agreement  may  be  executed  in  one  or  more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

     (g)  Assignment.  Except as set forth  below,  the parties  hereto will not
sell, assign,  transfer, or otherwise convey any of their rights or delegate any
of their duties under this Agreement. TATOP may not assign or otherwise transfer
the Note  (other  than  upon the  liquidation  or  dissolution  of TATOP) to its
Permitted  Transferee,  provided,  however that FIMI 2001 Ltd. shall continue to
represent the Permitted Transferees pursuant to an irrevocable power of attorney
until all amounts due on account of the Loan are repaid in full. For purposes of
this Agreement, and subject to the foregoing provisions, "Permitted Transferees"
shall  mean  (i)  TATOP's  partners,  (ii)  the  shareholders  or  partners  (as
applicable) of such partners, or (ii) any entity controlled by, controlling,  or
under common  control with TA-TEK Ltd.,  FIMI 2001 Ltd. or Mr. Ishay Davidi (for
so long as Mr. Davidi remains the CEO or equivalent position in Opportunity Fund
or any successor fund).

     (h) Delays or  Omissions;  Waiver.  No delay or omission  to  exercise  any
right,  power, or remedy accruing to either the Company or TATOP upon any breach
or default by the other party under this  Agreement  shall impair any such right
or  remedy  nor  shall it be  construed  to be a waiver  of any such  breach  or
default,  or any  acquiescence  therein  or in any  similar  breach  or  default
thereafter occurring.

     (i) Further Actions.  At any time and from time to time, each party agrees,
without further  consideration,  to take such actions and to execute and deliver
such documents as may be reasonably necessary to effectuate the purposes of this
Agreement.






<PAGE>



                                        8


TAT Credit Line Agreement


     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first above written.

TAT Technologies Ltd.
By:    _______________________
Name:  _______________________
Title: _______________________

TA-TOP, Limited Partnership
By:__________________________
Name:




<PAGE>



                                        9

TAT Credit Line Agreement
-------------------------


To:  TAT Technologies Ltd.

Re:  Irrevocable Undertaking:

We, the undersigned,  FIMI Israel Opportunity Fund, Limited Partnership and FIMI
Opportunity Fund, L.P., hereby undertake, guarantee agree and be responsible for
the fulfillment by TATOP of its obligations under this Agreement,  including but
not limited to, its  obligation to make the Credit Line available and to provide
the Company with the Loan, if requested by the Company,  all in accordance  with
and subject to the terms and provisions of this Agreement.

For avoidance of any doubt it is hereby  clarified  that this  undertaking  will
survive the  liquidation or  dissolution  of TATOP.  for any reason or under any
circumstances.

FIMI Opportunity Fund, L.P
and
FIMI Israel Opportunity Fund, Limited Partnership

By: FIMI 2001 Ltd.
By:_______________________________
Ishay Davidi, CEO

</TEXT>
</DOCUMENT>
