ts, including an interest coverage ratio test and a maximum leverage ratio test. These financial covenants become more restrictive on a periodic basis throughout the remaining term of the senior secured credit facility, including the first quarter of 2010. In addition, the senior secured credit facility includes various negative covenants, including limitations on indebtedness, liens, investments, permitted businesses, restricted payments, transactions and other matters, as well as certain customary representations and warranties, affirmative covenants and events of default including payment defaults.
We may not able to continue to satisfy the covenant requirements in subsequent periods. If we are unable to maintain compliance with the covenants contained in our senior secured credit facility, an event of default would occur. During the continuation of an event of default, the lenders under the senior secured credit facility are entitled to take various actions, including accelerating amounts due under the senior secured credit facility, terminating our access to our revolving credit facility and all other actions generally available to a secured creditor. An uncured event of default would have a material adverse effect on our financial position, results of operations and cash flow.
We believe that our cash on hand, expected cash flows from operations, and potential availability of borrowings under the revolving portion of our senior secured credit facilities will be sufficient to finance our operations, and meet our scheduled debt service requirements for at least the next twelve months.
This press release includes forward-looking statements regarding, among other items, operations, proposed regulations and their possible effect on the Company's results. Such statements are subject to a number of uncertainties and risks that could significantly affect current plans. Furthermore
Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Related medicine technology :1
|SOURCE LifeCare Holdings, Inc.|
Copyright©2009 PR Newswire.
All rights reserved
. Zimmer Holdings, Inc. Agrees to Sell $1 Billion of Senior Notes2
. NeoStem Acquires China Biopharmaceuticals Holdings, Inc.; Obtains Controlling Interest in Profitable Leading Chinese Pharmaceutical Company3
. China Biopharmaceuticals Holdings, Inc. Shareholders Overwhelmingly Support Merger with NeoStem, Inc., a NYSE AMEX Listed Company Trading Under Symbol NBS4
. Hill-Rom Holdings, Inc. Invites You to Join Its Fiscal 2009 Fourth Quarter Earnings and 2010 Financial Guidance Webcast5
. Lixte Biotechnology Holdings, Inc. Announces Completion of Private Placement6
. Telik Announces Third Quarter 2009 Financial Results7
. Quantros Announces Partnership With Hospital Accreditation Agency DNV8
. Misonix Announces New Distribution Agreement For The United Arab Emirates (UAE)9
. Dynatronics Announces Positive Financial Results for Quarter10
. Niusule Announces Key Additions to Management Team11
. Warner Chilcott Announces Secondary Equity Offering