Attached files
| file | filename |
|---|---|
| EX-32 - EX-32 - CALAVO GROWERS INC | v54809exv32.htm |
| EX-31.2 - EX-31.2 - CALAVO GROWERS INC | v54809exv31w2.htm |
| EX-23.1 - EX-23.1 - CALAVO GROWERS INC | v54809exv23w1.htm |
| EX-31.1 - EX-31.1 - CALAVO GROWERS INC | v54809exv31w1.htm |
| 10-K - FORM 10-K - CALAVO GROWERS INC | v54809e10vk.htm |
Exhibit 10.19
| Administrative Office | ||
| 2929 W. Main St., Suite G. Visalia, CA 93291 | ||
| P.O. Box 631, Visalia, CA 93279 | ||
| 559.627.5050 FAX: 559.627.4728 | ||
Farm Credit West
|
Web: www.farmereditwest.com |
September 11, 2009
Calavo Growers, Inc.
P.O. Box 751
Santa Paula, CA 93061-0751
P.O. Box 751
Santa Paula, CA 93061-0751
RE: Consent to allow increase in Bank of America Debt, an increase in minimum Tangible Net Worth,
and a change in the minimum EBITDA covenant
Attention: James Snyder
Farm Credit West has approved the consent request as per the “TERM REVOLVING CREDIT AGREEMENT —
SECTION 16 Negative Covenants (A) Borrowings (iv).” Approved Calavo’s increased borrowing limit
with Bank of America from $10,000,000, to a maximum of $15,000,000.
Farm Credit West has approved the consent request as per the “TERM REVOLVING CREDIT AGREEMENT —
SECTION 17 Financial Covenants (B) Tangible Net Worth”. Approved an increase in minimum tangible
net worth to $59,000,000. This minimum will increase again to $64,000,000 and will be effective on
and after October 31, 2010. Calavo must maintain on a consolidated quarterly basis a minimum
Tangible Net Worth equal to or greater than these minimums.
Farm Credit West has approved the consent request as per the “TERM REVOLVING CREDIT AGREEMENT —
SECTION 17 Financial Covenants (C) EBITDA”. Approved a change in the minimum EBITDA from
$7,500,000, to a ratio of 3.00: 1.0. Funded Debt to EBITDA shall not exceed this number and will be
calculated on a consolidated quarterly basis.
Sincerely;
James K. Neeley
Sr. Vice President
| Farm Credit West, FLCA | ||
| Farm Credit West, PCA | ||
| Subsidiaries of Farm Credit West, ACA | The Farm Credit System |