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Long-Term Debt
12 Months Ended
Dec. 27, 2016
Long-Term Debt [Abstract]  
Long-Term Debt

(6) Long-Term Debt

On October 15, 2012, we entered into a credit facility that provides for a three-year unsecured revolving credit facility of up to $25 million.  Borrowings under the credit facility bear interest at LIBOR plus 1.50%. We are required to pay a commitment fee equal to 0.25% per annum on the available but unused revolving loan facility. The credit facility is guaranteed by certain of our subsidiaries. The credit facility contains various financial covenants, including a maximum leverage ratio of total indebtedness to EBITDA, as defined in the credit agreement, and minimum fixed charge coverage ratio, as defined in the credit agreement. The credit facility also contains covenants restricting certain corporate actions, including asset dispositions, acquisitions, the payment of dividends, changes of control, the incurrence of indebtedness and providing financing or other transactions with affiliates. 

On June 30, 2015, we entered into a Second Amendment to the credit facility. The amendment, among other things, extended the termination date of the credit facility to October 15, 2017 and modified the revolving credit commitment to $15 million, with such amount subject to increases in increments of $5 million at our request, up to a maximum amount of $30 million. All other major terms remain unchanged. On December 21, 2016, we entered into a Third Amendment to the credit facility. The amendment, among other things, extended the termination date of the credit facility to October 15, 2019 and modified the revolving credit commitment to $10 million, with such amount subject to increases in increments of $5 million at our request, up to a maximum amount of $30 million.

We were in compliance with the financial debt covenants as of December 27, 2016. As of December 27, 2016, there was no outstanding balance on our revolving credit facility. Under the revolving loan commitment, we had approximately $28.8 million of borrowings available, net of $1.2 million in letter of credit commitments.