Credit Facility	3 Months Ended
Jan. 31, 2021
Credit Facility
Credit Facility	13. Credit Facility On January 29, 2021, we entered into the Third Amendment to Credit Agreement (the “Third Amendment”) with Farm Credit West, PCA and Bank of America, N.A. relating to our Credit Agreement dated as of June 14, 2016, First Amendment to Credit Agreement dated as of August 29, 2016, and Second Amendment to Credit Agreement dated as of February 28, 2019. This Third Amendment, among other things, provides for a five-year extension of the maturity date to January 29, 2026, a $20 million increase in the revolving commitment to $100 million (from $80 million) (for a total facility size of $150 million if the $50 million accordion is exercised, up from a total size of $130 million), and a 25 basis point increase in the interest rate. The new interest rate schedules are effective mid-June 2021. For our current credit agreement, the weighted-average interest rate was 2.8% and 1.9% at January 31, 2021 and October 31, 2020. Under these credit facilities, we had $37.2 million and $20.6 million outstanding as January 31, 2021 and October 31, 2020. In accordance with the extended due date, the outstanding balance of this credit facility has been reclassified to long-term in the accompanying balance sheet as of January 31, 2021. This Credit Facility contains customary affirmative and negative covenants for agreements of this type, including the following financial covenants applicable to the Company and its subsidiaries on a consolidated basis: (a) a quarterly consolidated leverage ratio of not more than 2.50 to 1.00 and (b) a quarterly consolidated fixed charge coverage ratio of not less than 1.15 to 1.00. We are in compliance with all financial covenants.

Credit Facility

3 Months Ended

Jan. 31, 2021

13. Credit Facility

On January 29, 2021, we entered into the Third Amendment to Credit Agreement (the “Third Amendment”) with Farm Credit West, PCA and Bank of America, N.A. relating to our Credit Agreement dated as of June 14, 2016, First Amendment to Credit Agreement dated as of August 29, 2016, and Second Amendment to Credit Agreement dated as of February 28, 2019. This Third Amendment, among other things, provides for a five-year extension of the maturity date to January 29, 2026, a $20 million increase in the revolving commitment to $100 million (from $80 million) (for a total facility size of $150 million if the $50 million accordion is exercised, up from a total size of $130 million), and a 25 basis point increase in the interest rate. The new interest rate schedules are effective mid-June 2021. For our current credit agreement, the weighted-average interest rate was 2.8% and 1.9% at January 31, 2021 and October 31, 2020. Under these credit facilities, we had $37.2 million and $20.6 million outstanding as January 31, 2021 and October 31, 2020. In accordance with the extended due date, the outstanding balance of this credit facility has been reclassified to long-term in the accompanying balance sheet as of January 31, 2021.

This Credit Facility contains customary affirmative and negative covenants for agreements of this type, including the following financial covenants applicable to the Company and its subsidiaries on a consolidated basis: (a) a quarterly consolidated leverage ratio of not more than 2.50 to 1.00 and (b) a quarterly consolidated fixed charge coverage ratio of not less than 1.15 to 1.00. We are in compliance with all financial covenants.