WOLF » Topics » The covenants in our mortgage loan agreements impose significant restrictions on us.

These excerpts taken from the WOLF 10-K filed Mar 5, 2009.
The covenants in our mortgage loan agreements impose significant restrictions on us.
 
The terms of our mortgage loan agreements impose significant operating and financial restrictions on us and our subsidiaries and require us to meet certain financial tests. These restrictions could also have a negative


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impact on our business, financial condition and results of operations by significantly limiting or prohibiting us from engaging in certain transactions, including:
 
  •  incurring or guaranteeing additional indebtedness;
 
  •  transferring or selling assets currently held by us;
 
  •  transferring ownership interests in certain of our subsidiaries; and
 
  •  reducing our tangible net worth below specified levels.
 
The failure to comply with any of these covenants could cause a default under a debt agreement. Any of these defaults, if not waived, could result in the acceleration of all of our debt, in which case the debt would become immediately due and payable. If this occurs, we may not be able to repay our debt or borrow sufficient funds to refinance it on favorable terms, if any.
 
The
covenants in our mortgage loan agreements impose significant
restrictions on us.



 



The terms of our mortgage loan agreements impose significant
operating and financial restrictions on us and our subsidiaries
and require us to meet certain financial tests. These
restrictions could also have a negative





34





Table of Contents






impact on our business, financial condition and results of
operations by significantly limiting or prohibiting us from
engaging in certain transactions, including:


 














































  • 

incurring or guaranteeing additional indebtedness;
 
  • 

transferring or selling assets currently held by us;
 
  • 

transferring ownership interests in certain of our
subsidiaries; and
 
  • 

reducing our tangible net worth below specified levels.


 



The failure to comply with any of these covenants could cause a
default under a debt agreement. Any of these defaults, if not
waived, could result in the acceleration of all of our debt, in
which case the debt would become immediately due and payable. If
this occurs, we may not be able to repay our debt or borrow
sufficient funds to refinance it on favorable terms, if any.


 




These excerpts taken from the WOLF 10-K filed Mar 5, 2008.
The covenants in our mortgage loan agreements impose significant restrictions on us.
 
The terms of our mortgage loan agreements impose significant operating and financial restrictions on us and our subsidiaries and require us to meet certain financial tests. These restrictions could also have a negative impact on our business, financial condition and results of operations by significantly limiting or prohibiting us from engaging in certain transactions, including:
 
  •  incurring or guaranteeing additional indebtedness;
 
  •  transferring or selling assets currently held by us;
 
  •  transferring ownership interests in certain of our subsidiaries; and
 
  •  reducing our tangible net worth below specified levels.
 
The failure to comply with any of these covenants could cause a default under our other debt agreements. Any of these defaults, if not waived, could result in the acceleration of all of our debt, in which case the debt would become immediately due and payable. If this occurs, we may not be able to repay our debt or borrow sufficient funds to refinance it on favorable terms, if any.
 
The
covenants in our mortgage loan agreements impose significant
restrictions on us.



 



The terms of our mortgage loan agreements impose significant
operating and financial restrictions on us and our subsidiaries
and require us to meet certain financial tests. These
restrictions could also have a negative impact on our business,
financial condition and results of operations by significantly
limiting or prohibiting us from engaging in certain
transactions, including:


 














































  • 

incurring or guaranteeing additional indebtedness;
 
  • 

transferring or selling assets currently held by us;
 
  • 

transferring ownership interests in certain of our
subsidiaries; and
 
  • 

reducing our tangible net worth below specified levels.


 



The failure to comply with any of these covenants could cause a
default under our other debt agreements. Any of these defaults,
if not waived, could result in the acceleration of all of our
debt, in which case the debt would become immediately due and
payable. If this occurs, we may not be able to repay our debt or
borrow sufficient funds to refinance it on favorable terms, if
any.


 




This excerpt taken from the WOLF 10-K filed Mar 7, 2007.
The covenants in our mortgage loan agreements impose significant restrictions on us.
 
The terms of our mortgage loan agreements impose significant operating and financial restrictions on us and our subsidiaries and require us to meet certain financial tests. These restrictions could also have a negative impact on our business, financial condition and results of operations by significantly limiting or prohibiting us from engaging in certain transactions, including:
 
  •  incurring or guaranteeing additional indebtedness;
 
  •  transferring or selling assets currently held by us;
 
  •  transferring ownership interests in certain of our subsidiaries; and
 
  •  reducing our tangible net worth below specified levels.
 
The failure to comply with any of these covenants could cause a default under our other debt agreements. Any of these defaults, if not waived, could result in the acceleration of all of our debt, in which case the debt would become immediately due and payable. If this occurs, we may not be able to repay our debt or borrow sufficient funds to refinance it.
 
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