| Schedule of long-term debt, net of current portion |
| |
|
2013
|
|
|
2012
|
|
|
Long-term debt, net of current portion:
|
|
|
|
|
|
|
|
Term loan agreement, $50.0 million on June 29, 2012, funded on October 1, 2012, maturing June 29, 2016, with variable interest as described in the fourth succeeding paragraph. (the average interest rate was 4.75% and 5.4% during the quarter and year ended December 31, 2013, respectively)
|
|
$ |
37,500 |
|
|
$ |
48,750 |
|
|
Term loan agreement, $20.0 million on October 1, 2012, maturing October 1, 2016, interest rate is fixed at 13.25% per annum.
|
|
|
20,000 |
|
|
|
20,000 |
|
|
Less current portion
|
|
|
-- |
|
|
|
( 2,500 |
) |
| |
|
$ |
57,500 |
|
|
$ |
66,250 |
|
|
| Schedule of total and first lien leverage ratio and fixed charge coverage ratio |
| First Lien Credit Agreement |
| Applicable Period |
|
Maximum
Total Leverage
Ratio |
|
Maximum
First Lien Leverage
Ratio |
|
Minimum
Fixed Charge Coverage
Ratio |
| Initial funding date through and including December 31, 2014 |
|
4.00x |
|
2.75x |
|
1.10x |
| January 1, 2015 through and including December 31, 2015 |
|
3.75x |
|
2.50x |
|
1.10x |
| January 1, 2016 and thereafter |
|
3.50x |
|
2.25x |
|
1.10x |
| |
|
|
|
|
|
|
| Second Lien Credit Agreement |
| Applicable Period |
|
Maximum
Total Leverage
Ratio |
|
Maximum
First Lien Leverage
Ratio |
|
Minimum
Fixed Charge Coverage
Ratio |
| Initial funding date through and including September 30, 2013 |
|
4.00x |
|
3.00x |
|
1.00x |
| October 1, 2013 through and including September 30, 2014 |
|
3.75x |
|
2.75x |
|
1.00x |
| October 1, 2014 and thereafter |
|
3.50x |
|
2.50x |
|
1.00x |
|