Examples of Senior Facility in a sentence
The obligations and indebtedness under the Senior Facility are secured by all of the assets of CES and its subsidiaries.
Transaction costs attributable to the Senior Facility are recorded as part of the Senior Facility and amortized to finance costs over the remaining term.
The above noted definitions are not recognized under IFRS and are provided strictly for the purposes of the Company’s Senior Facility covenant calculations.
Under the Senior Facility, CES is subject to the following financial covenants:• The ratio of Net Senior Debt to trailing EBITDA must not exceed 2.50:1.00 calculated on a rolling four-quarter basis; and• The ratio of EBITDA to interest expense must be greater than 2.50:1.00, calculated on a rolling four-quarter basis.
The Senior Facility has a standby fee ranging from 0.29% to 0.40%.