MGPI » Topics » Weekly Cash Flow.

This excerpt taken from the MGPI 10-Q filed May 11, 2009.
Weekly Cash Flow.

 

(a)                               New Financial Covenant.  A new Section 6.3(i) is added to the Credit Agreement which reads as follows:

 

(i)                                     Cash Flow.  The Borrowers’ cumulative Actual Cash Flow at the end of any week shall not vary negatively from the Borrowers’ cumulative Projected Cash Flow at the end of such week by an amount that exceeds the greater of (i) 10% of the cumulative Projected Cash Flow at the end of such week, or (ii) $200,000.  Notwithstanding the foregoing, to the extent any such negative variance is attributable solely to a Borrower’s failure to receive cash from a funding source described in the “Other Funding Sources” section of the Borrower’s Cash Flow Report delivered to the Banks pursuant to Section 6.1(n)(4) hereof, the Borrowers shall be deemed to be in compliance with the foregoing covenant for such week if such shortfall amount is received by a Borrower from such funding source within 10 Business Days after the end of such week (provided, further, that, if such funding source is Permitted ENB Debt, the Borrowers shall be deemed to be in compliance with such covenant if such Permitted ENB Debt proceeds are received by MGP by April 15, 2009).  The “cumulative” Actual Cash Flow and

 

12



 

Projected Cash Flow of the Borrowers shall be computed as provided in Section 6.1(n)(4) of this Agreement.

 

(b)                               Related Definitions.  Section 1.1 of the Credit Agreement is further amended to add the following definitions in appropriate alphabetical order:

 

Actual Cash Flow” means, for any period, the Borrowers’ actual cash flow, as reflected in the Cash Flow Report for such period.

 

Cash Flow Report” has the meaning given to such term in Section 6.1(n)(4) of this Agreement.

 

Projected Cash Flow” means, for any period, the Borrowers’ projected cash flow for such period as reflected in the Cash Flow Report attached to the Sixth Amendment as Exhibit D thereto.

 

This excerpt taken from the MGPI 8-K filed Mar 31, 2009.
Weekly Cash Flow.

 

(a)          New Financial Covenant.  A new Section 6.3(i) is added to the Credit Agreement which reads as follows:

 

(i)            Cash Flow.  The Borrowers’ cumulative Actual Cash Flow at the end of any week shall not vary negatively from the Borrowers’ cumulative Projected Cash Flow at the end of such week by an amount that exceeds the greater of (i) 10% of the cumulative Projected Cash Flow at the end of such week, or (ii) $200,000.  Notwithstanding the foregoing, to the extent any such negative variance is attributable solely to a Borrower’s failure to receive cash from a funding source described in the “Other Funding Sources” section of the Borrower’s Cash Flow Report delivered to the Banks pursuant to Section 6.1(n)(4) hereof, the Borrowers shall be deemed to be in compliance with the foregoing covenant for such week if such shortfall amount is received by a Borrower from such funding source within 10 Business Days after the end of such week (provided, further, that, if such funding source is Permitted ENB Debt, the Borrowers shall be deemed to be in compliance with such covenant if such Permitted ENB Debt proceeds are received by MGP by April 15, 2009).  The “cumulative” Actual Cash Flow and

 

12



 

Projected Cash Flow of the Borrowers shall be computed as provided in Section 6.1(n)(4) of this Agreement.

 

(b)          Related Definitions.  Section 1.1 of the Credit Agreement is further amended to add the following definitions in appropriate alphabetical order:

 

Actual Cash Flow” means, for any period, the Borrowers’ actual cash flow, as reflected in the Cash Flow Report for such period.

 

Cash Flow Report” has the meaning given to such term in Section 6.1(n)(4) of this Agreement.

 

Projected Cash Flow” means, for any period, the Borrowers’ projected cash flow for such period as reflected in the Cash Flow Report attached to the Sixth Amendment as Exhibit D thereto.

 

EXCERPTS ON THIS PAGE:

10-Q
May 11, 2009
8-K
Mar 31, 2009
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki