Best Buy 2003 Annual Report Download - page 57
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6.2.2 as at September 10, 2002, the F/X Credit Risk Factor is 29% and the conversion rate for
purposes of determining the value of the U.S. Dollar F/X Contracts is 1.6.
7. Margin Requirements:
In addition to the loan limits specified under the heading Credit Facilities above, the amounts available to the Borrower under the
Loans shall be limited by the following margin requirements (the “Margin Requirements”).
The aggregate of:
7.1. 100% of the Canadian Dollar advances outstanding under the Operating Loan;
7.2. the Canadian Dollar Equivalent of 100% of the U.S. Dollar advances outstanding
under the Operating Loan;
7.3. 100% of the face amounts of all Canadian Dollar Banker’s Acceptances made
available and outstanding under the Operating Loan;
7.4. 100% of the face amounts of all Canadian Dollar Letters of Credit issued and
outstanding under the Documentary Credit Sub−Facility; and
7.5. the Canadian Dollar Equivalent of the face amounts of 100% of the U.S. Dollar
Letters of Credit issued and outstanding under the Documentary Credit Sub−Facility;
shall at no time exceed the aggregate of:
7.6. 50% of Acceptable Inventory; and
7.7. 75% of Acceptable Receivables.
8. Repayment:
All amounts outstanding under the Loans, including the liabilities of the Bank under any Letters of Credit issued and outstanding
under the Documentary Credit Sub−Facility, any Bankers’ Acceptances issued and outstanding under the Operating Loan, any F/X
Contracts entered into and outstanding under the F/X Facility and any amounts outstanding under the EFT Limit, shall, at the option of
the Bank, immediately come due and be payable upon the occurrence of an Event of Default (as defined below) provided that:
4
8.1. all amounts outstanding under the Operating Loan shall be repaid by no later
than the date on which the Operating Term expires;