Annual report pursuant to Section 13 and 15(d)

Accounts Receivable Securitization

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Accounts Receivable Securitization
12 Months Ended
Aug. 31, 2012
Accounts Receivable Securitization

Note 5.    Accounts Receivable Securitization

Historically, the Company maintained an accounts receivable securitization program under which it sold certain of its trade accounts receivable to a wholly-owned, bankruptcy-remote special purpose subsidiary which, in turn, sold participating interests in its pool of receivables to a third party financial institution. The Company did not renew the securitization program on its September 9, 2009 maturity date and as a result, utilized availability under the Senior Credit Facility to fund the corresponding $37.1 million increase in accounts receivable.