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I mistyped. If they have less than $10M or 20% of the drawdown they will violate the minimum liquidity requirements which would then make the covenants relevant. Sorry for the typo.
Right now we just don't know what their cash position is but by no means does their negative GM's mean they have triggered their covenants.
sure we do, they said it in the CC...
going forwards we don't know it... however chances are good this loan line been called already.
pipster: do you believe ralph scmitt can turn around ocz?