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Quotes & Info
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| CGX > SEC Filings for CGX > Form 8-K on 12-Nov-2009 | All Recent SEC Filings |
12-Nov-2009
Entry into a Material Definitive Agreement
Effective November 12, 2009, we voluntarily reduced the revolving committed amount under our revolving credit agreement (as amended, the "Credit Agreement") with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto, from $335 million to $300 million, as permitted in Section 2.5(a) of the Credit Agreement. We effected such reduction primarily to reduce the commitment fees paid for unused amounts under the Credit Agreement. A formal amendment to the Credit Agreement was not required to effect such reduction.
As of November 12, 2009, taking into account the $35 million reduction described above, our available credit under all our existing credit facilities was approximately $159 million, which includes approximately $143 million available under the Credit Agreement. Management believes that our cash flow provided by operations, combined with the reduced available credit under existing credit facilities, will be adequate to cover our debt service requirements, planned capital expenditures and working capital requirements for the remaining fiscal year 2010.
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