# Project note — Credit facility renewal (Banque Commerciale de l'Outaouais)

**Owner:** Martin Lefebvre, CFO · **Version:** 1.1 (2025-11-03)

## Facilities under renewal
| Facility | Amount | Pricing | Term |
|---|---|---|---|
| Operating line | $6,000,000 | Prime + 0.75 % | 364-day, renewable |
| Term loan (Plant 2 equipment) | $2,400,000 | Fixed, 5-year amortisation | 2025-12 → 2030-12 |

## Key change
Quarterly test of the debt-service coverage ratio (minimum 1.25x) replacing the annual test. Finance has confirmed that the ratio stood at 1.61x at September 30, 2025.

## Timeline
| Step | Date | Owner |
|---|---|---|
| Term sheet received | 2025-11-03 | CFO |
| CEO walkthrough (1:1) | 2025-11-12 09:30 | CFO, CEO |
| CEO approval of the term sheet | 2025-11-13 (end of day) | CEO |
| Meeting at BCO (signature) | 2025-11-14 10:00–11:30 | CEO, CFO, L. Tanguay |
| Board ratification | 2025-11-20 | Board |

## Note
BCO handles any change to account instructions, signatories or banking details in person or through the relationship manager; such changes are never requested by e-mail.