20. Subsequent Event

On February 17, 2017, we entered into an amendment to our 2016 Credit Agreement (the “First Amendment”), dated as of February 16, 2016, by and among the Company, the lending institutions identified in the 2016 Credit Agreement, and Deutsche Bank AG New York Branch, as Administrative Agent and Collateral Agent. The First Amendment, among other things, (a) decreases the applicable interest rate margins for the Initial Term Loans (as defined in the Credit Agreement) from (i) 4.75% to 3.75%, in the case of the Base Rate Loans (as defined in the Credit Agreement), and (ii) 5.75% to 4.75%, in the case of the Eurodollar Loans (as defined in the Credit Agreement), and (b) adds a soft call premium equal to 1.0% of the principal repaid or repriced if the Initial Term Loans are voluntarily refinanced or repriced pursuant to certain refinancing transactions within twelve months of the effective date of the First Amendment.

As a result of the First Amendment, we expect interest expense to decrease approximately $2.6 million annually, with an approximate $2.3 million decrease in 2017. There were no lenders’ fees or discount relating to the First Amendment. We estimate that our total interest expense will be approximately $18.6 million in 2017, assuming no significant increase in our borrowings, including approximately $2.9 million of amortization of carryover deferred financing costs and original issue discount.