SWHC » Topics » Contractual Obligations and Commercial Commitments

These excerpts taken from the SWHC 10-K filed Jun 30, 2009.
Contractual Obligations and Commercial Commitments
 
The following table sets forth a summary of our material contractual obligations and commercial commitments as of April 30, 2009 (dollars in thousands):
 
                                         
          Less Than
                More Than
 
    Total     1 Year     1-3 Years     3-5 Years     5 Years  
 
Long-term debt obligations
  $ 92,384     $ 5,578     $ 6,806     $     $ 80,000  
Operating lease obligations
    2,868       841       1,838       189        
Purchase obligations
    43,405       43,405                    
Other long-term obligations
reflected on the balance
sheet under GAAP
    969       13       27       787       142  
                                         
Total obligations
  $ 139,626     $ 49,837     $ 8,671     $ 976     $ 80,142  
                                         
 
On December 15, 2006, we issued and sold an aggregate of $80.0 million of senior convertible notes due 2026 to qualified institutional buyers, pursuant to the terms and conditions of an indenture and securities purchase agreement, each dated as of December 15, 2006. The notes are convertible into shares of our common stock, initially at a conversion price of approximately $12.34 per share (subject to adjustment in certain events), or 81.0636 shares per $1,000 principal amount of notes. The notes may be converted at any time. The notes pay interest on June 15 and December 15 of each year at an annual rate of 4% of the unpaid principal amount. On or after December 15, 2009 until December 15, 2011, we may at our election redeem all or a portion of the notes at a redemption price of 100% of the principal amount of the notes plus accrued and unpaid interest only if the closing price of our common stock for no fewer than 20 trading days in any period of 30 consecutive trading days exceeds 150% of the then applicable conversion price of the notes. After December 15, 2011, we may redeem at our election all or a portion of the notes at a redemption price of 100% of the principal amount of the notes plus accrued and unpaid interest. Holders of the notes may require us to repurchase all or part of their notes on December 15, 2011, December 15, 2016, or December 15, 2021, and in the event of a fundamental change in our company, at a price of 100% of the principal amount of the notes plus accrued and unpaid interest, including contingent interest. If not redeemed by us or repaid pursuant to the holders’ right to require repurchase, the notes mature on December 15, 2026. Included in the above $92.4 million of long-term debt obligation is $6.4 million of contractually obligated interest payments pertaining to the $80.0 million in convertible debt. This amount represents interest payments through December 15, 2011, or the first redemption milestone. We may be required to pay additional interest


45


 

subsequent to December 15, 2011 redemption date; however, due to the uncertainty of subsequent interest payments, they are not reflected in the above table.
 
Contractual
Obligations and Commercial Commitments



 



The following table sets forth a summary of our material
contractual obligations and commercial commitments as of
April 30, 2009 (dollars in thousands):


 




































































































































































































































                                         

 

 

 

 

 

Less Than



 

 

 

 

 

 

 

 

More Than



 

 

 

Total

 

 

1 Year

 

 

1-3 Years

 

 

3-5 Years

 

 

5 Years

 
 


Long-term debt obligations


 

$

92,384

 

 

$

5,578

 

 

$

6,806

 

 

$



 

 

$

80,000

 


Operating lease obligations


 

 

2,868

 

 

 

841

 

 

 

1,838

 

 

 

189

 

 

 



 


Purchase obligations


 

 

43,405

 

 

 

43,405

 

 

 



 

 

 



 

 

 



 


Other long-term obligations

reflected on the balance

sheet under GAAP


 

 

969

 

 

 

13

 

 

 

27

 

 

 

787

 

 

 

142

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Total obligations


 

$

139,626

 

 

$

49,837

 

 

$

8,671

 

 

$

976

 

 

$

80,142

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 



On December 15, 2006, we issued and sold an aggregate of
$80.0 million of senior convertible notes due 2026 to
qualified institutional buyers, pursuant to the terms and
conditions of an indenture and securities purchase agreement,
each dated as of December 15, 2006. The notes are
convertible into shares of our common stock, initially at a
conversion price of approximately $12.34 per share (subject to
adjustment in certain events), or 81.0636 shares per $1,000
principal amount of notes. The notes may be converted at any
time. The notes pay interest on June 15 and December 15 of each
year at an annual rate of 4% of the unpaid principal amount. On
or after December 15, 2009 until December 15, 2011, we
may at our election redeem all or a portion of the notes at a
redemption price of 100% of the principal amount of the notes
plus accrued and unpaid interest only if the closing price of
our common stock for no fewer than 20 trading days in any period
of 30 consecutive trading days exceeds 150% of the then
applicable conversion price of the notes. After
December 15, 2011, we may redeem at our election all or a
portion of the notes at a redemption price of 100% of the
principal amount of the notes plus accrued and unpaid interest.
Holders of the notes may require us to repurchase all or part of
their notes on December 15, 2011, December 15, 2016,
or December 15, 2021, and in the event of a fundamental
change in our company, at a price of 100% of the principal
amount of the notes plus accrued and unpaid interest, including
contingent interest. If not redeemed by us or repaid pursuant to
the holders’ right to require repurchase, the notes mature
on December 15, 2026. Included in the above
$92.4 million of long-term debt obligation is
$6.4 million of contractually obligated interest payments
pertaining to the $80.0 million in convertible debt. This
amount represents interest payments through December 15,
2011, or the first redemption milestone. We may be required to
pay additional interest





45





 






subsequent to December 15, 2011 redemption date; however,
due to the uncertainty of subsequent interest payments, they are
not reflected in the above table.


 




These excerpts taken from the SWHC 10-K filed Jun 30, 2008.
Contractual Obligations and Commercial Commitments
 
The following table sets forth a summary of our material contractual obligations and commercial commitments as of April 30, 2008:
 
                                         
          Less Than
                More Than
 
    Total     1 Year     1-3 Years     3-5 Years     5 Years  
 
Long-term debt obligations
  $ 136,522,137     $ 7,494,752     $ 23,389,503     $ 17,107,810     $ 88,530,072  
Operating lease obligations
    649,906       334,065       283,930       31,911        
Purchase obligations
    31,110,342       31,110,342                    
Employment contracts
    1,255,500       486,000       769,500              
Other long-term obligations reflected on the balance sheet under GAAP
    1,056,663       32,610       47,529       723,716       252,808  
                                         
Total obligations
  $ 170,594,548     $ 39,457,769     $ 24,490,462     $ 17,863,437     $ 88,782,880  
                                         
 
On December 15, 2006, we issued and sold an aggregate of $80,000,000 of 4% Senior Convertible Notes due 2026 to qualified institutional buyers, pursuant to the terms and conditions of an indenture and securities purchase agreement, each dated as of December 15, 2006. The notes are convertible into shares of our common stock, initially at a conversion price of approximately $12.34 per share (subject to adjustment in certain events), or 81.0636 shares per $1,000 principal amount of notes. The notes may be converted at any time. The notes pay interest on June 15 and December 15 of each year, beginning on June 15, 2007, at an annual rate of 4% of the unpaid principal amount. On or after December 15, 2009 until December 15, 2011, we may at our election redeem all or a portion of the notes at a redemption price of 100% of the principal amount of the notes plus accrued and unpaid interest only if the closing price of our common stock for no fewer than 20 trading days in any period of 30 consecutive trading days exceeds 150% of the then applicable conversion price of the notes. After December 15, 2011, we may redeem at our election all or a portion of the notes at a redemption price of 100% of the principal amount of the notes plus accrued and unpaid interest. Holders of the notes may require us to repurchase all or part of their notes on December 15, 2011, December 15, 2016, or December 15, 2021, and in the event of a fundamental change in our company, at a price of 100% of the principal amount of the notes plus accrued and unpaid interest, including contingent interest. If not redeemed by us or repaid pursuant to the holders’ right to require repurchase, the notes mature on December 15, 2026. Included in the above $153.4 million of long-term debt obligation is $12.8 million of contractually obligated interest payments pertaining to the $80.0 million in convertible debt. This amount represents interest payments through December 15, 2011, or the first redemption milestone. We may be required to pay additional interest subsequent to December 15, 2011 redemption date, however, due to the uncertainty of subsequent interest payments, they are not reflected in the above table.
 
Contractual
Obligations and Commercial Commitments



 



The following table sets forth a summary of our material
contractual obligations and commercial commitments as of
April 30, 2008:


 



























































































































































































































































                                         

 

 

 

 

 

Less Than



 

 

 

 

 

 

 

 

More Than



 

 

 

Total

 

 

1 Year

 

 

1-3 Years

 

 

3-5 Years

 

 

5 Years

 
 


Long-term debt obligations


 

$

136,522,137

 

 

$

7,494,752

 

 

$

23,389,503

 

 

$

17,107,810

 

 

$

88,530,072

 


Operating lease obligations


 

 

649,906

 

 

 

334,065

 

 

 

283,930

 

 

 

31,911

 

 

 



 


Purchase obligations


 

 

31,110,342

 

 

 

31,110,342

 

 

 



 

 

 



 

 

 



 


Employment contracts


 

 

1,255,500

 

 

 

486,000

 

 

 

769,500

 

 

 



 

 

 



 


Other long-term obligations reflected on the balance sheet under
GAAP


 

 

1,056,663

 

 

 

32,610

 

 

 

47,529

 

 

 

723,716

 

 

 

252,808

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Total obligations


 

$

170,594,548

 

 

$

39,457,769

 

 

$

24,490,462

 

 

$

17,863,437

 

 

$

88,782,880

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 



On December 15, 2006, we issued and sold an aggregate of
$80,000,000 of 4% Senior Convertible Notes due 2026 to
qualified institutional buyers, pursuant to the terms and
conditions of an indenture and securities purchase agreement,
each dated as of December 15, 2006. The notes are
convertible into shares of our common stock, initially at a
conversion price of approximately $12.34 per share (subject to
adjustment in certain events), or 81.0636 shares per $1,000
principal amount of notes. The notes may be converted at any
time. The notes pay interest on June 15 and December 15 of each
year, beginning on June 15, 2007, at an annual rate of 4%
of the unpaid principal amount. On or after December 15,
2009 until December 15, 2011, we may at our election redeem
all or a portion of the notes at a redemption price of 100% of
the principal amount of the notes plus accrued and unpaid
interest only if the closing price of our common stock for no
fewer than 20 trading days in any period of 30 consecutive
trading days exceeds 150% of the then applicable conversion
price of the notes. After December 15, 2011, we may redeem
at our election all or a portion of the notes at a redemption
price of 100% of the principal amount of the notes plus accrued
and unpaid interest. Holders of the notes may require us to
repurchase all or part of their notes on December 15, 2011,
December 15, 2016, or December 15, 2021, and in the
event of a fundamental change in our company, at a price of 100%
of the principal amount of the notes plus accrued and unpaid
interest, including contingent interest. If not redeemed by us
or repaid pursuant to the holders’ right to require
repurchase, the notes mature on December 15, 2026. Included
in the above $153.4 million of long-term debt obligation is
$12.8 million of contractually obligated interest payments
pertaining to the $80.0 million in convertible debt. This
amount represents interest payments through December 15,
2011, or the first redemption milestone. We may be required to
pay additional interest subsequent to December 15, 2011
redemption date, however, due to the uncertainty of subsequent
interest payments, they are not reflected in the above table.


 




This excerpt taken from the SWHC 10-K filed Jul 16, 2007.
Contractual Obligations and Commercial Commitments
 
The following table sets forth a summary of our material contractual obligations and commercial commitments as of April 30, 2007:
 
                                         
          Less Than
                More Than
 
    Total     1 Year     1-3 Years     3-5 Years     5 Years  
 
Long-term debt obligations
  $ 153,419,062     $ 9,223,561     $ 24,139,903     $ 23,202,259     $ 96,853,339  
Operating lease obligations
    922,899       452,216       355,800       114,883       0  
Purchase obligations
    31,603,015       31,603,015       0       0       0  
Employment Contracts
    850,500       486,000       364,500       0       0  
Other long-term obligations reflected on the balance sheet under GAAP
    157,526       38,417       53,392       35,919       29,798  
                                         
Total obligations
  $ 186,953,002     $ 41,803,209     $ 24,913,595     $ 23,353,061     $ 96,883,137  
                                         
 
On December 15, 2006, we issued and sold an aggregate of $80,000,000 of 4% Senior Convertible Notes due 2026 (the “Notes”) to qualified institutional buyers, pursuant to the terms and conditions of an indenture and securities purchase agreement, each dated as of December 15, 2006. The Notes are convertible into shares of our common stock, initially at a conversion price of approximately $12.34 per share (subject to adjustment in certain events), or 81.0636 shares per $1,000 principal amount of Notes. The Notes may be converted at any time. The Notes pay interest on June 15 and December 15 of each year, beginning on June 15, 2007, at an annual rate of 4% of the unpaid principal amount. On or after December 15, 2009 until December 15, 2011, the Company may at its election redeem all or a portion of the Notes at the redemption price of 100% of the principal amount of the Notes plus accrued and unpaid interest only if the closing price of the Company’s common stock for no fewer than 20 trading days in any period of 30 consecutive trading days exceeds 150% of the then applicable conversion price of the Notes. After December 15, 2011, the Company may redeem at its election all or a portion of the Notes at a redemption price of 100% of the principal amount of the Notes plus accrued and unpaid interest. Holders of the Notes may require the Company to repurchase all or part of their Notes on December 15, 2011, December 15, 2016, or December 15, 2021, and in the event of a fundamental change in the Company, at a price of 100% of the principal amount of the Notes plus accrued and unpaid interest, including contingent interest. If not redeemed by the Company or repaid pursuant to the holders’ right to require repurchase, the Notes mature on December 15, 2026. Included in the above $153.4 million of long-term debt obligation is $12.8 million of contractually obligated interest payments pertaining to the $80.0 million in convertible debt. This amount represents interest payments through December 15, 2011, or the first redemption milestone. The Company may be required to pay additional interest subsequent to December 15, 2011 redemption date, however, due to the uncertainty of subsequent interest payments, they are not reflected in the above table.


51


Table of Contents

This excerpt taken from the SWHC 10-K filed Jul 14, 2006.
Contractual Obligations and Commercial Commitments
 
The following table sets forth a summary of our material contractual obligations and commercial commitments as of April 30, 2006:
 
                                         
          Less Than
                More Than
 
    Total     1 Year     1-3 Years     3-5 Years     5 Years  
 
Long-term debt obligations
  $ 21,036,882     $ 2,690,352     $ 8,071,055     $ 5,389,361     $ 4,886,114  
Operating lease obligations
    1,151,000       215,000       792,000       144,000       0  
Purchase obligations
    13,791,273       13,791,273       0       0       0  
Employment Contracts
    1,422,000       474,000       948,000       0       0  
Other long-term obligations reflected on the balance sheet under GAAP
    193,721       56,415       73,680       46,158       17,468  
                                         
Total obligations
  $ 37,594,876     $ 17,227,040     $ 9,884,735     $ 5,579,519     $ 4,903,582  
                                         
 
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