SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

16. SUBSEQUENT EVENTS

Eighth Amendment to Second Amended and Restated Loan and Security Agreement

On October 12, 2016, the Company executed an amendment to its revolving credit facility. The terms of the amendment are described above in Note 6 - Debt and Lines of Credit.

WMLP Series B Convertible Unit Exchange

On October 28, 2016, the Company exchanged its 4,512,500 common units representing limited partner interests in WMLP (“Common Units”) for 4,512,500 Series B Convertible Units representing limited partner interests in WMLP (the “Series B Units”). The Series B Units do not share in distributions with the Common Units and are convertible on a one-for-one basis into Common Units on the day after the record date for a cash distribution on the Common Units in which WMLP is unable to make such a distribution without exceeding its restricted payment basket under the WMLP Term Loan Facility and the WMLP Revolving Credit Facility. The Series B Units will also convert automatically upon a change of control or a dissolution or liquidation of WMLP. The Series B Units have the same voting rights as if they were outstanding Common Units and will vote together with the Common Units as a single class. In addition, the Series B Units are entitled to vote as a separate class on any matters that materially adversely affect the rights or preferences of the Series B Units in relation to other classes of partnership interests or as required by law.