XML 43 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Credit Facility
9 Months Ended
Sep. 24, 2013
Debt Disclosure [Abstract]  
Line of Credit Facility
Credit Facility

On November 30, 2012, the Company terminated the Amended and Restated Credit Agreement, or the Prior Credit Agreement, dated March 7, 2008, by and among the Company, Bank of America, N.A., and other lenders party thereto. As of the date of termination, the Company had no loans outstanding and was in compliance with all covenants under the Prior Credit Agreement.

On November 30, 2012, the Company entered into a new credit agreement, or the Credit Agreement, with Bank of America, N.A. and other lenders party thereto. The Credit Agreement provides for an unsecured revolving credit facility of $250.0 million to be used for general corporate purposes. The Credit Agreement, which is guaranteed by certain of the Company’s direct and indirect subsidiaries, will become due on November 30, 2017, subject to acceleration upon certain specified events of default, including breaches of representations or covenants, failure to pay other material indebtedness or a change of control of the Company, as defined in the Credit Agreement.

As of September 24, 2013 and December 25, 2012, the Company had no loans outstanding under the Credit Agreement. The Company incurred $0.1 million of commitment fees for each of the thirteen weeks ended September 24, 2013 and September 25, 2012, and $0.2 million and $0.3 million of commitment fees for the thirty-nine weeks ended September 24, 2013 and September 25, 2012, respectively. Accrued interest related to the commitment fees was $0.1 million at both September 24, 2013 and December 25, 2012. As of September 24, 2013 and December 25, 2012, the Company was in compliance with all covenants under the Credit Agreement.