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These excerpts taken from the GSIC 10-K filed Mar 13, 2008. Credit
Facility
In fiscal 2006, the Company entered into a $5,000 one-year
unsecured revolving credit facility with a bank. The credit
facility provided for the issuance of up to $5,000 of letters of
credit, which was included in the $5,000 available under the
credit facility. In January 2008, this credit facility was
replaced with a $2,000 credit facility with the same bank. The
$2,000 credit facility is available only for the issuance of
letters of credit. The credit facility contains certain
financial and negative covenants which the Company was in
compliance with as of December 29, 2007. The Company had
$179 of outstanding letters of credit under the credit facility
as of December 29, 2007.
In January 2008, the Company entered into a $75,000 five-year
secured revolving credit facility with a syndicate of banks The
$75,000 credit facility provides for the issuance of up to
$20,000 of letters of credit, which is
Table of Contents
GSI
COMMERCE, INC. AND SUBSIDIARIES
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(amounts
in thousands, except per share data)
included in the $75,000 available under the credit facility. The
credit facilities are collateralized by substantially all of the
Company’s assets other than intellectual property. The
Company may elect to have amounts outstanding under the credit
facilities bear interest at either a LIBOR rate plus an
applicable margin of 0.75% to 1.50%, the prime rate plus an
applicable margin of 0.75% to 1.50%, or at the Federal Funds
Open Rate plus 0.5%. The applicable margin is determined by the
leverage ratio of funded debt to EBITDA, as defined in the
credit facility. The credit facilities contain certain financial
and negative covenants.
Credit Facility In fiscal 2006, the Company entered into a $5,000 one-year unsecured revolving credit facility with a bank. The credit facility provided for the issuance of up to $5,000 of letters of credit, which was included in the $5,000 available under the credit facility. In January 2008, this credit facility was replaced with a $2,000 credit facility with the same bank. The $2,000 credit facility is available only for the issuance of letters of credit. The credit facility contains certain financial and negative covenants which the Company was in compliance with as of December 29, 2007. The Company had $179 of outstanding letters of credit under the credit facility as of December 29, 2007. In January 2008, the Company entered into a $75,000 five-year secured revolving credit facility with a syndicate of banks The $75,000 credit facility provides for the issuance of up to $20,000 of letters of credit, which is
Table of ContentsGSI COMMERCE, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (amounts in thousands, except per share data) included in the $75,000 available under the credit facility. The credit facilities are collateralized by substantially all of the Company’s assets other than intellectual property. The Company may elect to have amounts outstanding under the credit facilities bear interest at either a LIBOR rate plus an applicable margin of 0.75% to 1.50%, the prime rate plus an applicable margin of 0.75% to 1.50%, or at the Federal Funds Open Rate plus 0.5%. The applicable margin is determined by the leverage ratio of funded debt to EBITDA, as defined in the credit facility. The credit facilities contain certain financial and negative covenants.
This excerpt taken from the GSIC 10-Q filed Nov 8, 2007. Credit Facility In fiscal 2006, the Company entered into a $5,000 one-year unsecured revolving credit facility with a bank. The credit facility also provides for the issuance of up to $5,000 of letters of credit, which is included in the $5,000 available under the credit facility. The Company may elect to have amounts outstanding under the credit facility bear interest at a LIBOR rate plus an applicable margin of 1.25% to 2.00% or the prime rate minus an applicable margin of up to 0.75%. The applicable margin is determined by the leverage ratio of funded debt to EBITDA, as defined in the credit facility. The credit facility contains certain financial and negative covenants which the Company was in compliance with at September 29, 2007 and December 30, 2006. The Company had $841 of outstanding letters of credit under the credit facility as of September 29, 2007. This excerpt taken from the GSIC 10-Q filed Aug 8, 2007. Credit Facility In fiscal 2006, the Company entered into a $5,000 one-year unsecured revolving credit facility with a bank. The credit facility also provides for the issuance of up to $5,000 of letters of credit, which is included in the $5,000 available under the credit facility. The Company may elect to have amounts outstanding under the credit facility bear interest at a LIBOR rate plus an applicable margin of 1.25% to 2.00% or the prime rate minus an applicable margin of up to 0.75%. The applicable margin is determined by the leverage ratio of funded debt to EBITDA, as defined in the credit facility. The credit facility contains certain financial and negative covenants which the Company was in compliance with at June 30, 2007 and December 30, 2006. The Company had $602 of outstanding letters of credit under the credit facility as of June 30, 2007. This excerpt taken from the GSIC 10-Q filed May 9, 2007. Credit Facility In fiscal 2006, the Company entered into a $5,000 one-year unsecured revolving credit facility with a bank. The credit facility also provides for the issuance of up to $5,000 of letters of credit, which is included in the $5,000 available under the credit facility. The Company may elect to have amounts outstanding under the credit facility bear interest at a LIBOR rate plus an applicable margin of 1.25% to 2.00% or the prime rate minus an applicable margin of up to 0.75%. The applicable margin is determined by the leverage ratio of funded debt to EBITDA, as defined in the credit facility. The credit facility contains certain financial and negative covenants which the Company was in compliance with at March 31, 2007 and December 30, 2006. The Company had $294 of outstanding letters of credit under the credit facility as of March 31, 2007. This excerpt taken from the GSIC 10-K filed Mar 13, 2007. Credit Facility
In December 2006, the Company entered into a $5,000 one-year unsecured revolving credit facility with a bank. The credit facility also provides for the issuance of up to $5,000 of letters of credit, which is included in the $5,000 available under the credit facility. The Company may elect to have amounts outstanding under the credit facility bear interest at a LIBOR rate plus an applicable margin of 1.25% to 2.00% or the prime rate minus an applicable margin of up to 0.75%. The applicable margin is determined by the leverage ratio of funded debt to EBITDA, as defined in the credit facility.
The credit facility contains certain financial and negative covenants which the Company was in compliance with at December 30, 2006.
The Company had $559 of outstanding letters of credit under the credit facility as of December 30, 2006.
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