Bank Indebtedness. The Company has the following credit facilities: A UK credit facility allowing for an operating line of credit of 161,000 (90,000 GBP) was extended by the UK Bank. A Canadian credit facility requires the Canadian subsidiary to comply with certain financial covenants. As at July 31, 2006, the Canadian subsidiary was not in compliance therewith.
Appears in 2 contracts
Sources: Share Purchase Agreement, Share Purchase Agreement (Peress Sass)