Notes Payable and Revolving Line of Credit (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Summary of Debt Obligations, Net of Unamortized Discounts

A summary of the Company’s debt obligations, net of unamortized discounts, is as follows (in thousands):

	December 31,			December 31,
	2014			2015
Non-related party debt:
Senior secured loans, net of issuance costs	$	—		$	118,936
Real estate debt		24,590			—
Asset purchases		126			—
Subordinated debt, net of issuance costs		708			24,240
Capital lease obligations		1,243			770
Total non-related party debt		26,667			143,946
Less current portion		(2,570	)		(3,611	)
Total non-related party debt, long-term	$	24,097		$	140,335
Related party debt:
Acquisition-related debt	$	1,787		$	1,195
Subordinated debt		187			—
Total related party debt		1,974			1,195
Less current portion		(1,787	)		(1,195	)
Total related party debt, long-term	$	187		$	—

Schedule of Applicable Rates and Unused Commitment Fees

The Applicable Rates and the unused commitment fees of the 2015 Credit Facility are based upon the following tiers:   

Pricing Tier	Consolidated Total Leverage Ratio	Eurodollar Rate Loans			Base Rate Loans			Commitment Fee
1	> 3.50:1.00		3.25	%		2.25	%		0.50	%
2	> 3.00:1.00 but < 3.50:1.00		3.00	%		2.00	%		0.45	%
3	> 2.50:1.00 but    < 3.00:1.00		2.75	%		1.75	%		0.40	%
4	> 2.00:1.00 but    < 2.50:1.00		2.50	%		1.50	%		0.35	%
5	< 2.00:1.00		2.25	%		1.25	%		0.35	%

Schedule of Consolidated Total Leverage Ratio

· Consolidated Total Leverage Ratio: may not be greater than the following levels as of the end of each fiscal quarter:

Measurement Period Ending	Maximum Consolidated Total Leverage Ratio
December 31, 2015	4.50:1.00
March 31, 2016	4.50:1.00
June 30, 2016	4.25:1.00
September 30, 2016	4.25:1.00
December 31, 2016	4.25:1.00
March 31, 2017 and each fiscal quarter thereafter	4.00:1.00

Schedule of Consolidated Senior Secured Leverage Ratio

· Consolidated Senior Secured Leverage Ratio may not be greater than the following levels as of the end of each fiscal quarter:

Measurement Period Ending	Maximum Consolidated Senior Secured Leverage Ratio
December 31, 2015	4.00:1.00
March 31, 2016	4.00:1.00
June 30, 2016	3.75:1.00
September 30, 2016	3.75:1.00
December 31, 2016	3.75:1.00
March 31, 2017 and each fiscal quarter thereafter	3.50:1.00

Schedule of Interest Rate Swap Agreements

The following table sets forth the Company’s interest rate swap agreements at December 31, 2015 (dollars in thousands):

	Notional		Maturity	Fair
	Amount		Date	Value
Pay-fixed interest rate swap	$	7,977	May 2018	$	(116	)
Pay-fixed interest rate swap		11,608	August 2019		(348	)
Total	$	19,585		$	(464	)

Summary of Future Maturities of Long-term Debt

A summary of future maturities of long-term debt, as of December 31, 2015, is as follows (in thousands):

Years ending December 31,	Non-Related Party		Related Party		Capital Lease Obligations		Total
2016	$	3,750	$	1,195	$	280	$	5,225
2017		5,625	—			277		5,902
2018		9,375	—			197		9,572
2019		11,250	—			16		11,266
2020		90,125	—		—			90,125
Thereafter		25,000	—		—			25,000
Total	$	145,125	$	1,195	$	770	$	147,090
Interest on outstanding amounts		18,401		166		29		18,596
Total, including interest	$	163,526	$	1,361	$	799	$	165,686