4 unchanged sentences
Dollar, particularly the Euro, British pound and Canadian dollar.
−Removed: Approximately 6% of our sales in fiscal year 2021 were denominated in foreign currencies.
+Added: For the nine months ended February 28, 2021, approximately 7% of our sales were denominated in foreign currencies.
We do not have expenses denominated in foreign currencies at the level of our sales and as a result, our profitability is exposed to currency fluctuations.
5 unchanged sentences
On June 3, 2019, we entered into the Credit Agreement which provides for a $125 million Revolving Facility.
−Removed: Interest on the facility will be based, at the Company’s option, on a base rate of LIBOR plus an applicable margin tied to the Company’s total leverage ratio and having ranges between 0.25% and 0.75% for base rate loans and between 1.25% and 1.75% for LIBOR loans.
+Added: Interest on the facility will be based, at the Company’s option, on either a base rate of LIBOR or alternate base rate, plus an applicable margin tied to the Company’s total leverage ratio and having ranges between 0.25% and 0.75% for base rate loans and between 1.25% and 1.75% for LIBOR loans.
In the event of default, the interest rate may be increased by 2.0%.
−Removed: As of November 30, 2020 there was $ 40.0 million outstanding on the Revolving Facility.
+Added: As of February 28, 2021 there was $30.0 million outstanding on the Revolving Facility.
+Added: The interest rate on the Revolving Facility at February 28, 2021 was 1.63%.
Concentration of Credit Risk
5 unchanged sentences
No single customer represents more than 10% of total sales.
−Removed: The Company monitors the creditworthiness of its customers to which it grants credit terms in the normal course of business.
+Added: The Company monitors the creditworthiness of its customers.
+Added: As the Company’s standard payment terms are 30 to 90 days from invoicing, the Company does not provide any significant financing to its customers.
Although the Company does not currently foresee a significant credit risk associated with the outstanding accounts receivable, repayment is dependent upon the financial stability of our customers.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.