Subsequent Events (Notes)

3 Months Ended

Mar. 31, 2020

Subsequent Events:

On May 6, 2020 , the Company entered into the Second Amendment to the North American Credit Facility, which, among other things, includes:


•	the consolidated total leverage ratio limit will increase to 3.25 from 2.75 effective after June 30, 2020 through December 31, 2020. After December 31, 2020, the consolidated total leverage ratio limit will decrease to 3.0 until maturity;


•	the LIBOR floor increases from zero to 100% on the revolving loans;


•	the consolidated senior secured leverage ratio limit will increase from 2.25 to 2.75 until March 31, 2021. On March 31, 2021, the senior secured leverage ratio will decrease to 2.25 until maturity;

•

the ERC borrowing base on all domestic Core eligible pools will increase from 35% to 40% effective July 31, 2020 until January 31, 2021. If the ERC advance rate drops to 35% or below during this period, the ERC borrowing base will return to 35%;