Debt

The Company’s debt consisted of the following (in thousands):



	March 31, 2015		December 30, 2014
Term Loan	$	403,342	$	405,421
Senior Notes	190,000		190,000
Revolving Facility ($110 million) ⁽¹⁾	—		—
	593,342		595,421
Less current portion	4,158		4,158
	$	589,184	$	591,263


⁽¹⁾	The Company had $90.9 million of borrowing capacity available under its revolving credit facility (“Revolving Facility”), net of $19.1 million of outstanding letters of credit at March 31, 2015 and at 12/30/2014.

The Company’s debt facilities contain restrictions on additional borrowings, certain asset sales, capital expenditures, dividend payments, certain investments and related-party transactions, as well as requirements to maintain various financial ratios. At March 31, 2015, the Company was in compliance with all of its debt covenants.

Based upon the amount of excess cash flow generated during the fiscal year and the Company’s leverage at fiscal year end, each of which is defined in the credit agreement governing the term loan, the Company may be required to make an excess cash flow mandatory prepayment. The excess cash flow mandatory prepayment is an annual requirement under the credit agreement and is due 95 days after the end of each fiscal year. The Company was not required to make a mandatory pre-payment in fiscal 2015 based on its fiscal 2014 results. However, the Company currently anticipates that it may be required to make a mandatory prepayment in fiscal 2016, but such amount cannot be reasonably estimated at this time.