Debt (Tables)

3 Months Ended

Mar. 31, 2016

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):

	March 31,			December 31,
	2016			2015
Non-related party debt:
Senior secured loans, net of issuance costs		118,059			118,936
Subordinated debt		24,273			24,240
Capital lease obligations		756			770
Total non-related party debt		143,088			143,946
Less current portion		(4,092	)		(3,611	)
Total non-related party debt, long-term	$	138,996		$	140,335
Related party debt:
Acquisition related debt		—			1,195
Less current portion		—			(1,195	)
Total related party debt, long-term	$	—		$	—

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
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
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 our interest rate swap agreements at March 31, 2016 (dollars in thousands):

	Notional		Maturity	Fair
	Amount		Date	Value
Pay-fixed interest rate swap	$	7,818	May 2018	$	(159	)
Pay-fixed interest rate swap		11,395	August 2019		(480	)
Total	$	19,213		$	(639	)