Open Text Corporation provides a suite of business information software products. Exhibit 10-9 contains Note 10 from the company€™s 2013 annual report detailing long-term debt.

Required:
a. Open Text had a U.S. $100-million revolving credit facility in place at June 30, 2013, which the company referred to as €œthe Revolver€ in the notes to its financial statements. What is a revolving credit facility?
b. What amount of €œthe Revolver€ had been used at June 30, 2013? What is the maximum amount Open Text could access through €œthe Revolver€?
c. Open Text also had a U.S. $600-million term loan facility in place at June 30, 2013. What was the amount of the principal outstanding?
d. The term loan had a five-year term, so why did the company present a portion of the term loan as a current liability?
e. The company also had an outstanding mortgage at June 30, 2013. Was this mortgage secured? Did it require blended repayments?

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EXHIBIT 10-9 EXCERPT FROM OPEN TEXT CORPORATION'S 2013 ANNUAL REPORT Long-term debt Long-term debt is comprised of the following: As of June 30, 2013 As of June 30, 2012 Long-term debt Term Loan Mortgage $555,000 10,492 565,492 $585,000 11,374 596,374 Less: Current portion of long-term debt Tem Loan Mortgage 30,000 11,374 41,374 $555,000 41,250 10,492 51,742 $513,750 Non current portion of long-term debt Term Loan and Revolver Our credit facility consists of a S600 million term loan facility (the Term Loan) and a $100 million committed revolving credit facility (the Revolver). Borrowings under the credit agreement are secured by a first charge over substantially all of our assets. We entered into and borrowed the full amount under the Term Loan from this credit agreement on November 9, 2011 The Term Loan has a five year term and repayments made under the Term Loan are equal to 1.25% of the original principal amount at each quarter for the first 2 years, 1.88% for years 3 and 4 and 2.5% for year 5, The Term Loan bears interest at a floating rate of LIBOR plus 2.25% starting in the last quarter of Fiscal 2013. For Fiscal 2012 and the first nine months of Fiscal 2013 interest was at a floating rate of LIBOR plus 2.5%. For the year ended June 30, 2013, we recorded interest expense of $15.5 million relating to the Term Loan (June 30, 2012-$10.9 million) For the year ended June 30, 2012, we recorded interest expense of $2.7 million relating to our previously outstanding term loan (June 30, 2011-$7.3 million) The Revolver has a five year term with no fixed repayment date prior to the end of the tem. As of June 30, 2013, we have not drawn any amounts on the Revolver. Mortgage We currently have an "open" mortgage with a bank where we can pay all or a portion of the mortgage on or before August 1, 2014. The original principal amount of the mortgage was Canadian $15.0 million and interest accrues monthly at a variable rate of Canadian prime plus 0.50%. Principal and interest are payable in monthly installments of Canadian $0.1 million with a final lump sum principal payment due on maturity. The mortgage is secured by a lien on our headquarters in Waterloo, Ontario, Canada. We first entered into this mortgage in December 2005. As of June 30, 2013, the canying value of the mortgage was $10.5 million (June 30, 2012-$11.4 million) As of June 30, 2013, the carrying value of the Waterloo building that secures the mortgage was $16.1 million (June 30, 2012-$16.3 million). For the year ended June 30, 2013, we recorded interest expense of $0.4 million relating to the mortgage (June 30, 2012-$0.4 million, June 30, 2011-$0.6 million).