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These excerpts taken from the XIDE 10-K filed Jun 4, 2009. The
Revolving Loan
Borrowings under the Revolving Loan Facility bear interest at a
rate equal to the London Interbank Offered Rate, or LIBOR, plus
1.50%. The applicable spread on the Revolving Loan Facility will
be subject to change and may increase or decrease in accordance
with a leverage-based pricing grid. The Revolving Loan Facility
includes a letter of credit sub-facility of $75.0 million
and an accordion feature that allows the Company to increase the
facility size up to $250.0 million if the Company can
obtain commitments from existing or new lenders for the
incremental amount. The Revolving Loan Facility will mature in
May 2012, but is prepayable at any time at par.
Availability under the Revolving Loan Facility is subject to a
borrowing base comprised of up to 85.0% of the Company’s
eligible accounts receivable plus 85.0% of the net orderly
liquidation value of eligible North American inventory
less, in each case, certain limitations and reserves. Revolving
loans made to the Company domestically under the Revolving Loan
Facility are guaranteed by substantially all domestic
subsidiaries of the Company, and revolving loans made to Exide
Global Holding Netherlands C.V. (“Exide C.V.”) under
the Revolving Loan Facility are guaranteed by substantially all
domestic subsidiaries of the Company and certain foreign
subsidiaries. These guaranteed obligations are secured by a lien
on substantially all of the assets of such respective borrowers
and guarantors, including, subject to certain exceptions, in the
case of security provided by the domestic subsidiaries, first
priority lien in current assets and a second priority lien in
fixed assets.
The Revolving Loan Facility contains customary terms and
conditions, including, without limitation, limitations on liens,
indebtedness, implementation of cash dominion and control
agreements, and other typical covenants. A springing fixed
charge financial covenant of 1.0:1.0 will be triggered if the
excess availability under the Revolving Loan Facility falls
below $40.0 million. The Company is also required to pay an
unused line fee that varies based on usage of the Revolving Loan
Facility.
The
Revolving Loan
Borrowings under the Revolving Loan Facility bear interest at a
rate equal to the London Interbank Offered Rate, or LIBOR, plus
1.50%. The applicable spread on the Revolving Loan Facility will
be subject to change and may increase or decrease in accordance
with a leverage-based pricing grid. The Revolving Loan Facility
includes a letter of credit sub-facility of $75.0 million
and an accordion feature that allows the Company to increase the
facility size up to $250.0 million if it can obtain
commitments from existing or new lenders for the incremental
amount. The Revolving Loan Facility will mature in May 2012, but
is prepayable at any time at par.
Availability under the Revolving Loan Facility is subject to a
borrowing base comprised of up to 85.0% of the Company’s
eligible accounts receivable plus 85.0% of the net orderly
liquidation value of eligible North American inventory
less, in each case, certain limitations and reserves. Revolving
loans made to the Company domestically under the Revolving Loan
Facility are guaranteed by substantially all domestic
subsidiaries of the Company, and revolving loans made to Exide
Global Holding Netherlands C.V. (“Exide C.V.”) under
the Revolving Loan Facility are guaranteed by substantially all
domestic subsidiaries of the Company and certain foreign
subsidiaries. These guaranteed obligations are secured by a lien
on substantially all of the assets of such respective borrowers
and guarantors, including, subject to certain exceptions, in the
case of security provided by the domestic subsidiaries, first
priority lien in current assets and a second priority lien in
fixed assets.
The Revolving Loan Facility contains customary terms and
conditions, including, without limitation, limitations on liens,
indebtedness, implementation of cash dominion and control
agreements, and other typical covenants. A springing fixed
charge financial covenant of 1.0:1.0 will be triggered if the
excess availability under the Revolving Loan Facility falls
below $40.0 million. The Company is also required to pay an
unused line fee that varies based on usage of the Revolving Loan
Facility.
Table of Contents
EXIDE
TECHNOLOGIES AND SUBSIDIARIES
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
This excerpt taken from the XIDE 10-K filed Jun 9, 2008. The
Revolving Loan
Borrowings under the Revolving Loan Facility bear interest at a
rate equal to LIBOR plus 1.75%. The applicable spread on the
Revolving Loan Facility will be subject to change and may
increase or decrease in accordance with a leverage-based pricing
grid. The Revolving Loan Facility includes a letter of credit
sub-facility of $75.0 million and an accordion feature that
allows the Company to increase the facility size up to
$250.0 million if it can obtain commitments from existing
or new lenders for the incremental amount. The Revolving Loan
Facility will mature in May 2012, but is prepayable at any time
at par.
Availability under the Revolving Loan Facility is subject to a
borrowing base comprised of up to 85.0% of the Company’s
eligible accounts receivable plus 85.0% of the net orderly
liquidation value of eligible North American inventory less, in
each case, certain limitations and reserves. Revolving loans
made to the Company domestically under the Revolving Loan
Facility are guaranteed by substantially all domestic
subsidiaries of the Company, and revolving loans made to Exide
C.V. under the Revolving Loan Facility are guaranteed by
substantially all domestic subsidiaries of the Company and
certain foreign subsidiaries. These guarantee obligations are
secured by a lien on substantially all of the assets of such
respective borrowers and guarantors, including, subject to
certain exceptions in the case of security provided by the
domestic subsidiaries, a first priority lien in current assets
and a second priority lien in fixed assets.
The Revolving Loan Facility contains customary terms and
conditions, including, without limitation, limitations on liens,
indebtedness, implementation of cash dominion and control
agreements, and other typical covenants. A springing fixed
charge financial covenant of 1.0:1.0 will be triggered if the
excess availability under the Revolving Loan Facility falls
below $40.0 million. The Company is also required to pay an
unused line fee that varies based on usage of the Revolving Loan
Facility.
Table of Contents
EXIDE
TECHNOLOGIES AND SUBSIDIARIES
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
This excerpt taken from the XIDE 10-K filed Jun 11, 2007. The
Revolving Loan
Borrowings under the Revolving Loan Facility bear interest at a
rate equal to LIBOR plus 1.75%. The applicable spread on the
Revolving Loan Facility will be subject to change and may move
up or down in accordance with a leverage-based pricing grid. The
Revolving Loan Facility includes a letter of credit sub-facility
of $75 million and an accordion feature that allows Exide
to increase the facility size up to $250 million if it can
obtain commitments from existing or new lenders for the
incremental amount. The Revolving Loan Facility will mature in
five years, but is prepayable at any time at par.
Availability under the Revolving Loan Facility is subject to a
borrowing base comprised of up to 85% of Exide and certain of
its subsidiaries’ combined eligible accounts receivable
plus 85% of the net orderly liquidation value of eligible North
American inventory less, in each case, certain limitations and
reserves. Revolving loans made to Exide and other domestic
borrowers under the Revolving Loan Facility are guaranteed by
substantially all domestic subsidiaries of Exide, and revolving
loans made to Exide C.V. under the Revolving Loan Facility are
guaranteed by Exide, substantially all domestic subsidiaries of
Exide and certain foreign subsidiaries. These guarantee
obligations are secured by a lien on substantially all of the
assets of such respective Borrowers and guarantors, including,
subject to certain exceptions, in the case of security provided
by the domestic subsidiaries, a first priority lien in current
assets and a second priority lien in fixed assets.
The Revolving Loan Facility contains customary terms and
conditions, including, without limitation, limitations on liens,
indebtedness, implementation of cash dominion and control
agreements, and other typical covenants. A springing fixed
charge financial covenant of 1.0:1.0 will be triggered if the
excess availability under the Revolving Loan Facility falls
below $40 million. Exide will also be required to pay an
unused line fee that varies based on usage of the Revolving Loan
Facility.
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