- a change to the definition of Consolidated Operational Restructuring Costs to allow for additional add backs to Adjusted EBITDA up to the lesser of $15,000,000 or the Unused Maximum Consolidated Capital Expenditure Amount (as defined in the amendment) annually through 2015;
- a small increase to the maximum leverage ratio covenant for the period beginning the third quarter of 2012 through the fourth quarter of 2013;
- a change to the definition of Leverage Ratio to permit the netting of up to $25,000,000 of surplus unrestricted cash and cash equivalents held by certain of its foreign subsidiaries against total gross debt, subject to certain limitations;
- an extended time period, until one year after the effective date of the amendment, in which the Company would owe a 1% prepayment premium in the event the Company refinanced its obligations under the credit facility at lower interest rates; and
- a 0.75% interest rate increase on the term loans for eighteen months.
Xerium Technologies Announces Credit Facility Amendment
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