Note 2 of Collins Industries annual report states: The credit facility [line] is collateralized by re ceivables,
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Note 2 of Collins Industries’ annual report states: “The credit facility [line] is collateralized by re¬
ceivables, inventories, equipment and certain real property. Under the terms of the Agreement, the Company is required to maintain certain financial ratios and other financial conditions.The Agreement also prohibits the Company from incurring certain additional indebtedness, limits certain investments, advances or loans and restricts substantial asset sales, capital expenditures and cash dividends.” What restrictions has the bank that granted the credit placed on Collins Industries?
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