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Subsequent Events
6 Months Ended
Jul. 01, 2018
Subsequent Events [Abstract]  
Subsequent Events

24.Subsequent Events

 

On July 11, 2018, the Company amended the Term Loan Facility to align certain of its terms with the Revolving Credit Facility, including (i) revisions to the calculation of the rates per annum at which borrowings under the Term Loan Facility bear interest, determined by reference to, at the Company’s option, either a base rate or a Eurodollar rate, to conform with the calculation of such rates under the Revolving Credit Facility, (ii) revisions to the calculation of the two financial covenants the Company is required to maintain, a “consolidated cash flow/fixed charges ratio” and a “consolidated funded indebtedness/cash flow ratio,” to conform with the calculation of such covenants under the Revolving Credit Facility and (iii) modifications to certain events of default to align with those under the Revolving Credit Facility, including the occurrence of unsatisfied judgments of the Company or its subsidiaries in excess of $100 million, as increased from $50 million, individually or in the aggregate, outstanding for 30 days or more which are not being appealed or contested in good faith.

 

On July 11, 2018, the Company amended the Revolving Credit Facility to amend and restate the definition of “consolidated funded indebtedness/cash flow ratio” to conform to the definition in the Term Loan Facility.

 

On July 20, 2018, the Company amended each of the Prudential Shelf Facility and the NYL Shelf Facility primarily to align certain of their terms with the Revolving Credit Facility, specifically (i) revisions to the calculation of the two financial covenants the Company is required to maintain under each, a “consolidated cash flow/fixed charges ratio” and a “consolidated funded indebtedness/cash flow ratio,” to conform with the calculation of such covenants under the Revolving Credit Facility, (ii) modifications to certain events of default to align with those under the Revolving Credit Facility, including the occurrence of unsatisfied judgments of the Company or its subsidiaries in excess of $100 million, as increased from $50 million, individually or in the aggregate, outstanding for 30 days or more which are not being appealed or contested in good faith and (iii) revisions to certain negative covenants to reduce the existing limitations on the ability of the Company and its subsidiaries to dispose of assets outside of the ordinary course of business.