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Debt
9 Months Ended
Mar. 31, 2017
Debt Disclosure [Abstract]  
Debt
Debt
TERM LOAN AND REVOLVING CREDIT FACILITIES
On May 2, 2016, the Company and certain of its subsidiaries, as guarantors, entered into a Credit Agreement (the “Credit Agreement”) with a syndicate of commercial banks and Bank of America, N.A acting as the administrative agent. The Credit Agreement provides for a $200,000 term loan facility ("Term Loan") and a $100,000 revolving credit facility ("Revolver"). As of March 31, 2017, the Company’s outstanding balance on the Term Loan was $192,500, before $6,363 of unamortized debt issuance costs. The stated interest rate of the Term Loan was 3.2% as of March 31, 2017.
The Company was in compliance with all covenants and conditions under the Credit Agreement and there were no borrowings against the Revolver. There were outstanding letters of credit of $5,168 as of March 31, 2017.