Note 9. Debt

Total debt of the Company consists of the following:


	December 31, 2011		June 30, 2011
Revolving Credit Facility	$	—	$	—
NBA loans		4,236		—
Related party capital lease obligations ^(a)		3,503		4,225

Total	$	7,739	$	4,225

(a)

Classified in other accrued liabilities and other liabilities in the accompanying consolidated balance sheets.

Revolving Credit Facility

On January 28, 2010, MSG L.P. and certain of its subsidiaries entered into a credit agreement with a syndicate of lenders providing for a new senior secured revolving credit facility of up to $375,000 with a term of five years (the "Revolving Credit Facility"). The Revolving Credit Facility contains certain customary representations and warranties, affirmative covenants and events of default. The Revolving Credit Facility requires MSG L.P. to comply with the following financial covenants: (i) a maximum total secured leverage ratio of 3.50:1.00 and (ii) a maximum total leverage ratio of 6.00:1.00. In addition, there is a minimum interest coverage ratio of 2.50:1.00 for the Company. As of December 31, 2011, the Company was in compliance with the financial covenants in the Revolving Credit Facility. The proceeds of borrowings under the Revolving Credit Facility are available for working capital and capital expenditures, including, but not limited to, the Transformation, and for general corporate purposes. All borrowings under the Revolving Credit Facility are subject to the satisfaction of customary conditions, including covenant compliance, absence of a default and accuracy of representations and warranties. As of December 31, 2011, there was $7,000 in letters of credit issued and outstanding under the Revolving Credit Facility. Available borrowing capacity under the Revolving Credit Facility as of December 31, 2011 was $368,000.

NBA Loans

The NBA's previously negotiated multi-year national rights contracts with two broadcast providers include provisions which generally allow for the continued monthly payment to each NBA team of annual rights fees during a work stoppage. Rights fees paid during the work stoppage are considered loans by the NBA to be repaid to the broadcast providers as reductions to rights fees through 2016. The Knicks received such payments while the 2011-2012 NBA season was delayed due to the CBA negotiation. One loan is non-interest bearing while the other loan bears interest compounded quarterly at the U.S. Prime Rate. The loans are repayable in advance at the team's option.

As of December 31, 2011, $3,336 of the NBA loans outstanding balance was recorded in other liabilities, with the remaining balance recorded in other accrued liabilities in the accompanying consolidated balance sheet.