10.	L ONG-TERM OBLIGATIONS

January 15, 2019,

the Company entered into a new senior credit facility. See Note

“

Subsequent Events

.” Consummation of this agreement prior to issuance of the Company’s

2018

financial statements demonstrated the Company’s intent and ability to refinance a portion of its current obligation in accordance with ASC

470,

“Debt.” Current maturities under the Company’s

2017

Senior Credit Facility totaling

$6,600

December 31, 2018

were effectively replaced by principal payments totaling

$2,250

under the new senior credit facility. Accordingly, current portion of long-term obligations in the amount of

$4,350

was reclassified to long-term obligations at

December 31, 2018.

The Consolidated Balance Sheet and schedule of long-term obligations at

December 31, 2018,

and the schedule of maturities of long-term obligations reflect this reclassification only, and do

not

reflect all changes in debt maturities resulting from this transaction.

Long-term obligations consist of the following at

December 31, 2018

and

2017:

	2018			2017
2017 senior secured credit facility due 2023	$	171,750		$	178,350
Debt discount		(2,024	)		(2,668	)
Debt issuance costs		(2,182	)		(2,869	)
6.25% convertible notes due 2018		-			10,044
Debt discount		-			(18	)
Debt issuance costs		-			(4	)
Capital leases and other long-term obligations		2,768			3,154
Total debt		170,312			185,989
Less current portion		(2,289	)		(17,030	)
Long-term obligations, net of current portion	$	168,023		$	168,959

As of

December 31, 2018,

the Company had

amounts outstanding under the

$15,000

revolving facility component of its

2017

Senior Credit Facility.

The aggregate maturities of long-term obligations for each of the next

five

years and thereafter at

December 31, 2018,

are as follows:

2019	$	2,289
2020		13,252
2021		16,267
2022		86,483
2023		53,801
Thereafter		2,426
Total maturities	$	174,518

2017

Senior Credit Facility

January 15, 2019,

the Company utilized the proceeds from its new senior credit facility to repay in full the outstanding principal balance and accrued and unpaid interest on the

2017

Senior Credit Facility. See Note

“

Subsequent Events

.”

March 13, 2017 (

the “Closing Date”), the Company entered into a new senior credit facility consisting of a Term A-

Facility of

$120,000,

a Term A-

Facility of

$60,000

and a revolving facility of

$15,000

(the

“2017

Senior Credit Facility”). Upon the satisfaction of certain conditions, on

March 28, 2017 (

the “Funding Date”), the

2017

Senior Credit Facility was funded. Gross cash proceeds totaling

$176,828,

net of discounts of

$3,172,

and cash on hand of

$9,030

were utilized as follows: (i) repayment of the Company’s

2015

Senior Credit Facility due

2018

totaling

$88,135,

including principal, accrued interest and fees; (ii) placement of

$94,000

in restricted cash to fund the purchase or repayment at maturity of its

6.25%

Notes; (iii) fund fees associated with tender of the

6.25%

Notes of

$197;

and (iv) fund fees and other expenses associated with the transaction totaling

$3,526.

Discounts, fees and expenses associated with the

2017

Senior Credit Facility, including amounts paid in

2016,

totaling

$6,580

were deferred and charged to interest expense over the terms of the agreement.

The Term A-

Facility in the principal amount of

$120,000

bore interest at LIBOR plus

5.0%

per annum, with a LIBOR minimum of

1.0%.

Quarterly principal payments were

$1,500

beginning in the

fourth

quarter of

2017

through the

first

quarter of

2020;

$2,250

in the

second

quarter of

2020

through the

first

quarter of

2021;

and

$4,000

in the

second

quarter of

2021

through the

fourth

quarter of

2021.

The remaining outstanding principal balance was due on

March 13, 2022.

The Term A-

Facility in the principal amount of

$60,000

bore interest at LIBOR plus

7.0%

per annum, with a LIBOR minimum of

1.0%.

Quarterly principal payments were

$150

beginning in the

fourth

quarter of

2017

through the

first

quarter of

2021;

and

$600

in the

second

quarter of

2021

through the

fourth

quarter of

2022.

The remaining outstanding principal balance was due on

March 13, 2023.

The Company

may

have, at its option, designated a portion of the borrowings under the Term A-

Facility and Term A-

Facility to bear interest at an Alternative Base Rate, which is defined as the highest of (i) the Prime Rate; (ii) the Federal Funds Effective Rate plus

0.50%

per annum; and (iii) the Adjusted LIBOR Rate for an Interest Period of

one

month plus

1.0%

per annum. If the LIBOR Rate is

longer available for such interest period, the Adjusted LIBOR Rate shall be calculated as the Administrative Agent shall select in its sole discretion. The Alternative Base Rate shall

not

be less than zero.

The revolving facility provided for borrowings in an aggregate amount outstanding at any

one

time

not

to exceed

$15,000,

including a letter of credit subfacility and swingline subfacility with commitment limitations based on amounts drawn under the revolving facility (collectively the “Revolving Facility”). The Revolving Facility bore interest at LIBOR plus

5.0%

per annum, with a LIBOR minimum of

1.0%.

The obligations under the

2017

Senior Credit Facility were secured by substantially all of the personal property and certain material real property owned by the Company and its wholly-owned subsidiaries, with certain exceptions. The

2017

Senior Credit Facility contained customary representations, warranties and covenants, including covenants limiting the incurrence of additional debt, declaring dividends, repurchase of the Company’s common stock, making investments, dispositions, and entering into mergers and acquisitions. Financial covenants (i) imposed a maximum net total leverage to consolidated EBITDA ratio; and (ii) required a minimum consolidated EBITDA to fixed charge coverage ratio. The payment of dividends on the Company’s common stock was

not

permitted until such time that the Company’s net total leverage ratio, as defined in the

2017

Senior Credit Facility, was

not

more than

2.75

1.00,

and certain other liquidity measures were met. Calculation and reporting to the lenders the actual net leverage ratio at

December 31, 2018

was

not

required. The

2017

Senior Credit Facility provided for events of default customary for credit facilities of this type, including non-payment under the agreement, breach of warranty, breach of covenants, defaults on other debt, incurrence of liens on collateral, change of control and insolvency, all as defined in the agreement. Consequences of an event of default were defined in the agreement.

As required under the terms of the

2017

Senior Credit Facility, the Company entered into interest rate hedges sufficient to effectively fix or limit the interest rate on borrowings under the agreement of a minimum of

$90,000

with a weighted average life of at least

two

years. See Note

“

Fair Value Measurements

” for additional information.

6.25%

Convertible Notes due

2018

March 17, 2017,

the Company issued a tender offer to purchase any and all of its outstanding

6.25%

Notes for cash in an amount equal to

one thousand twenty-five

dollars per

one thousand

dollars principal amount (the “Tender Offer”). The Tender Offer was subsequently amended to

one thousand thirty-seven

dollars and

fifty

cents per

one thousand

dollars principal amount. Under the terms of the agreement, proceeds from the Company’s

2017

Senior Credit Facility in the amount of

$94,000

were utilized to fund the Tender Offer and the repurchase of the remaining

6.25%

Notes. The Tender Offer expired on

April 14, 2017

and was settled on

April 17, 2017.

As of the expiration date,

$83,956

aggregate principal amount of the

6.25%

Notes were validly tendered and

not

validly withdrawn pursuant to the Tender Offer, and were accepted for purchase by the Company at the amended price. The Company settled the Tender Offer on

April 17, 2017.

The cash settlement totaled

$90,231,

including principal of

$83,956,

accrued interest of

$2,420,

the premium of

$3,148

and fees of

$707.

Settlement was funded with restricted cash of

$83,956

and other cash on hand of

$6,275.

The Company recorded a loss on the extinguishment of this debt of

$5,230

2017.

Following settlement,

6.25%

Notes in the aggregate principal amount of

$10,044

remained outstanding.

May 1, 2018,

the Company repurchased the outstanding balance of its

6.25%

Notes. The cash settlement totaled

$10,358,

including principal of

$10,044

and accrued interest of

$314.

Settlement was funded utilizing restricted cash of

$10,044

and cash on hand of

$314.

There was

gain or loss associated with the repurchase.

The following table provides selected data regarding the

6.25%

Notes as of

December 31, 2017:

	2017
Net carrying amount of the equity component	$	686
Principal amount of the convertible notes	$	10,044
Unamortized debt discount	$	18
Amortization period remaining (months)		4
Net carrying amount of the convertible notes	$	10,026

The following table details the interest components of the

6.25%

Notes contained in the Company’s Consolidated Statements of Comprehensive Income (Loss) for the years ended

December 31, 2018

and

2017:

	2018		2017
Coupon interest expense	$	208	$	2,163
Amortization of the debt discount		18		2,253
Total included in interest expense	$	226	$	4,416

Capital Leases and Other Long-term Obligations

The Company is a lessee under various capital leases and other financing agreements totaling

$2,768

and

$3,154

with a weighted average interest rate of

9.82%

and

9.41%

December 31, 2018

and

2017,

respectively, and have maturities through

2033.

Debt Issuance Costs

The Company incurred debt issuance costs totaling

$3,407

associated with its

2017

Senior Credit Facility which were deferred and amortized to interest expense over the terms of the agreements. Amortization of debt issuance costs were

$691

and

$2,057

in the years ended

December 31, 2018

and

2017,

respectively, including

zero

and

$974

classified as loss on extinguishment of debt in

2018

and

2017,

respectively.

Debt Discounts

Accretion of debt discounts charged to interest expense or loss on extinguishment of debt in

2018

and

2017,

totaled

$662

and

$2,763,

respectively, including

zero

and

$1,482

classified as loss on extinguishment of debt in

2018

and

2017,

respectively.