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Commitments
6 Months Ended
Jun. 29, 2014
Commitments Disclosure [Abstract]  
Commitments
COMMITMENTS
Fulfillment Center Lease
In January 2014, the Company entered into a lease agreement for a fulfillment center being constructed in McCarran, Nevada. The initial term of the lease expires 12 years from the earlier of completion of the fulfillment center or the date we commence business operations from the leased property. The Company expects to begin operating the new fulfillment center in the third quarter of 2014. As part of the agreement, the Company issued a security deposit in the form of an irrevocable standby letter of credit totaling $3.0 million which expires in 2026. The standby letter of credit may be drawn if certain conditions occur, including default on payments, losses incurred due to breach or termination of the agreement.
Credit Facility
In January 2014, the Company entered into a $50.0 million revolving credit facility pursuant to a Credit Agreement with certain lenders (the "Credit Agreement"). Any borrowings under the Credit Agreement mature in January 2016. The Credit Agreement includes a letter of credit sub-limit of up to $15.0 million.

Borrowings under the Credit Agreement bear annual interest, at the Company's option, in an amount equal to (i) in the case of base rate loans, 1.50% plus the highest of (a) the Federal Funds Rate plus one-half of one percent (0.50%), (b) the prime rate, and (c) the eurodollar rate plus two percent (2.00%), or (ii) in the case of eurodollar loans, for any interest period, LIBOR plus 2.50%. An undrawn commitment fee shall be payable to the lenders in an amount equal to 0.175% times the actual daily amount by which the aggregate commitments exceed the sum of the outstanding amount of loans and the outstanding amount of letter of credit obligations, calculated on a quarterly basis in arrears.

The Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants, in each case applicable to us and our subsidiaries. The negative covenants include restrictions on, among other things, indebtedness, liens, investments, mergers, dispositions, dividends and other distributions. The Credit Agreement contains certain financial covenants that require us and our subsidiaries to, among other things, maintain a specified fixed charge coverage ratio, quick ratio and a senior leverage ratio.

The Credit Agreement includes customary events of default, including a change of control and a cross-default on our or any subsidiary’s material indebtedness. Our obligations under the Credit Agreement are secured by substantially all of our and our subsidiaries’ assets, and the Company’s obligations under the Credit Agreement will be guaranteed by certain of our subsequently acquired or organized direct and indirect domestic subsidiaries.

During the three and six months ended June 29, 2014, the Company made no borrowings under the revolving credit facility.