At August 2, 2013, no amount has been drawn under the Amended Facility and approximately $83 million was issued in letters of credit, but not drawn, to support contractual credit requirements at several of the Company's projects. If the aggregate amount of letters of credit and borrowings outstanding under the Amended Facility exceeds $125 million, the Company is required to cash collateralize outstanding letters of credit in an amount equal to the excess above $125 million.
And you failed to point out that the company already indicated its intentions in the quarterly report of May *
As more fully described in the Company's quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2013, the Company has initiated discussions with the lenders under its revolving credit facility to obtain a waiver of, or an amendment to, the revolving credit facility with respect to, among other things, compliance with certain ratios. The closing of the Gregory and Delta-Person asset sales in the third quarter of 2013 are expected to add further to the available net cash balance.