LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2017

LONG-TERM DEBT [Abstract]

Long Term Debt

Long-term debt consisted of the following (in thousands):

	December 31,
	2017			2016
ABL Revolver	$	-		$	-
Term Loan B		249,375			-
Line of credit		-			147,600
Term loan		-			74,500
Promissory note payable in monthly installments at 2.9% through January 2021, collateralized by equipment		2,722			3,577
Less unamortized debt issuance costs		(10,073	)		(992	)
Total Debt		242,024			224,685
Less: Current maturities		(3,381	)		(51,354	)
Total Long-term Debt	$	238,643		$	173,331

Computation of Secured Leverage Ratio to EBITDA

The Term Loan requires that the company’s Secured Leverage Ratio, defined as the ratio, as of the last day of any fiscal quarter of consolidated secured debt (net of restricted cash, not to exceed $30 million) as of such day to EBITDA, beginning with the fiscal quarter ending December 31, 2017, is either equal to or less than as indicated in the table below:

Fiscal Quarter	Secured Leverage Ratio
December 31, 2017	5.75:1.00
March 31, 2018	5.75:1.00
June 30, 2018	5.50:1.00
September 30, 2018	5.50:1.00
December 31, 2018	5.25:1.00
March 31, 2019	5.25:1.00
June 30, 2019	5.00:1.00
September 30, 2019	5.00:1.00
December 31, 2019	4.75:1.00
March 31, 2020	4.75:1.00
June 30, 2020 and each Fiscal Quarter thereafter	4.50:1.00

Maturities of Long-Term Debt

As of December 31, 2017, the maturities of long-term debt for the next five years and thereafter were as follows (in thousands):

2018	$	3,381
2019		3,405
2020		3,436
2021		2,500
2022		2,500
Thereafter		236,875
Total	$	252,097