
Note 17.	Subsequent Events

In October 2014, we amended our revolving bank credit facility that expires in February 2018 to modify, among other things, the terms and conditions as it relates to the required ratio (Leverage Ratio) of total indebtedness to trailing four quarters earnings before interest, taxes, depreciation and amortization and other non-recurring items, as defined by the credit facility (adjusted EBITDA), not to exceed 6.5 to 1.0 through the quarter ended December 31, 2015, 6.25 to 1.0 through the quarter ended December 31, 2016 and 6.0 to 1.0 each fiscal quarter ending thereafter through expiration of the facility. The amended facility allows us to reduce our total indebtedness for purposes of calculating the Leverage Ratio by subtracting from total indebtedness the amount of any cash contributed into a segregated reserve account, provided that, after such cash contribution, our cash remaining on hand for operations exceeds $2.0 billion. Upon transfer, the cash contribution will remain restricted until and to the extent it is no longer required for our Leverage Ratio to remain in compliance. In addition, Sprint Corporation was added as a guarantor of this credit facility.

We have recently engaged in discussions with our existing lenders for both the unsecured EDC Agreement and secured equipment credit facility and intend to modify the terms to provide for terms similar to those of the revolving bank credit facility that was amended in October 2014. If we are unsuccessful in our efforts, we could pay all amounts outstanding under the EDC Agreement and secured equipment credit facility prior to exceeding the current covenant ratio requirements, which are currently more restrictive than the amended revolving bank credit facility. To the extent we are unsuccessful in our efforts to amend the EDC Agreement and secured equipment credit facility, we expect to have the ability and could pay off all amounts outstanding under these two facilities, which totaled $1.1 billion as of September 30, 2014.