Subsequent Events

12 Months Ended

Dec. 31, 2016

Subsequent Events

Subsequent Events

21.  Subsequent Events

On February 8, 2017 the Company entered into an amendment to its Term Loan Credit Agreement to decrease the interest rate margins that apply to the term loan facility from 3.25% to 2.50% for ABR Loans (as defined in the Term Loan Credit Agreement) and from 4.25% to 3.50% for Eurodollar Rate Loans (as defined in the Term Loan Credit Agreement), such that the senior secured term loan facility generally bears interest at a rate of (at the Company’s election) either (i) 2.50% per annum plus the greatest of (a) the Prime Rate (as defined in the Term Loan Credit Agreement) in effect on such day, (b) the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers plus 0.50% and (c) 1.00% plus the greater of (1) the LIBOR for a one month interest period multiplied by the Statutory Reserve Rate (as defined in the Term Loan Credit Agreement) and (2) 2.00% or (ii) 3.50% per annum plus the greater of (a) the LIBOR for the applicable interest period multiplied by the Statutory Reserve Rate and (b) 1.00%.  Meanwhile the tenure of the Company’s Term Loan Credit has remained unchanged.

The amendment to the term loan facility did not result in a significant debt modification under ASC 470-50.  Additionally, the Company incurred approximately $923 in costs with third parties directly  related to the amendment that the Company will expense as incurred in the year ended December 31, 2017.