Debt

Long-term debt consisted of the following:



	September 30,			December 31,
	2016			2015
	(In thousands)
Term Loan Credit Facility	$	78,000		$	78,600
Equipment Loan Facility	3,591			4,719
Term Loan original issue discount	(387		)	(507		)
Term Loan unamortized debt issuance costs	(1,164		)	(1,526		)
Total debt, net of debt issuance costs	80,040			81,286
Less: current portion (Term Loan Credit Facility)	(318		)	(318		)
Less: current portion (Equipment Loan Facility)	(1,567		)	(1,511		)
Total current portion of debt, net of debt issuance costs	(1,885		)	(1,829		)
Total long-term debt, net of debt issuance costs	$	78,155		$	79,457

Based on available market information, the estimated fair value of the Company’s long-term debt was $79.2 million and $81.0 million as of September 30, 2016 and December 31, 2015, respectively. These fair value measurements were determined using Level 2 observable inputs, as defined in Note 2. The estimated fair value of our facility related to the purchase of equipment ("Equipment Loan Facility") approximates its carrying value at each reporting period.

As of September 30, 2016, the Company had $2.9 million in outstanding letters of credit issued under its Revolving Credit Facility.

The Term Loan Credit Facility and the Revolving Credit Facility (collectively, the "Credit Facilities") include covenants that restrict certain activities by the Company, as well as require the Company to comply with certain financial ratios such as a Consolidated Net Leverage Ratio and a springing Fixed Charge Coverage Ratio, as these terms are defined in the agreements governing the Credit Facilities. The agreements governing the Credit Facilities also contain other affirmative and negative covenants with which the Company is required to comply. The Term Loan Credit Facility requires partial prepayment of a portion of the principal outstanding in the event that the Company generates Consolidated Excess Cash Flow (as defined under the Term Loan Credit Facility) in excess of a certain threshold. This determination is to be made 90 days following the end of the preceding fiscal year, with any payment, if required, due within 105 days following the end of the preceding fiscal year. The Company was in compliance with all applicable covenants set forth in the Credit Facilities as of September 30, 2016 and there was no required prepayment for the year ended December 31, 2015.