Are these terms been meet, Where is the monthly updates?...

Are these terms been meet, Where is the monthly updates? Bankruptcy looks to be on the cards now.

Terms Common to All WHSP Financing Facilities
• Early repayment is permitted (the New Term Loan Facility cannot be repaid before the
other facilities), subject to payments of respective Minimum Earns in full
• Facilities are secured by all assets of EOS (save for those of certain foreign subsidiaries)
• There are warranties and representations and general positive and negative undertakings
which are customary for a facility of this nature
• The events of default and review included in the agreement are typical for facilities of this
nature, including termination or default under material agreements
• Under an agreement with EOS’ bond facility provider, EFA, the Existing and New Working
Capital facilities rank in priority to the bond facilities provided by EFA.
Financial Covenants
• The following financial covenants apply:
o Asset Coverage Ratio
▪ Defined, in general terms, as the ratio of:
(a) net tangible assets excluding borrowings, relative to
(b) the borrowings of EOS plus the face value of bonds issued, less
cash backing provided in relation to the bond facilities
▪ Must be more than 1.6 : 1
▪ Tested monthly until 31 December 2023 then quarterly
o Cashflow Ratios:
▪ The cash inflows ratio
• Defined as the EOS group's actual cash inflows (over a 3 month
period), relative to the Company's cash inflow forecast (over that 3
month period))
• Must be more than 0.9 : 1
• Tested monthly until 31 December 2023;
▪ The cash outflows ratio
• Defined as the EOS group’s actual cash outflows (over a 3 month
period), relative to the Company’s cash outflow forecast (over that
3 month period))
• Must be less than 1.1 : 1
• Tested monthly until 31 December 2023;
o The Interest Coverage Ratio
▪ Applied on and from 31 December 2023 and tested quarterly, under the
New Term Loan Facility
▪ Defined as EOS group’s Net Cash Flow from Operations (adjusted for
interest payments) relative to interest expense
▪ Must be more than 2.0 : 1

EOS_New_Financing_Facilities_and_Strategic_Growth_Options.pdf