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Bank Borrowing Arrangements (Notes)
12 Months Ended
Dec. 29, 2013
Debt Disclosure [Abstract]  
Bank Borrowing Arrangements
Bank Borrowing Arrangements

In November 2007, the Company entered into an agreement with Associated Bank, N.A. (“Associated Bank”) providing for a $10 million revolving credit facility (the “revolving facility”).  Borrowings under the revolving facility bore interest at the London Interbank Offering Rate (“LIBOR”) plus 1.5%, with borrowing levels determined by a borrowing base formula as defined in the agreement, which includes the level of eligible accounts receivable.  The revolving facility also supports the issuance of letters of credit, places certain restrictions on the Company’s ability to pay dividends or make acquisitions, and includes covenants that require minimum operating profit levels and limit annual capital expenditures.  Borrowings under the revolving facility were originally collateralized by the Company’s accounts receivable and inventory. 
    
The Company has subsequently entered into several amendments to the revolving facility, mainly to increase the commitment amount to $12.5 million, to extend the maturity date of the revolving facility, to broaden the security interest of Associated Bank to collateralize all assets of the Company, and to establish or modify certain covenants with which the Company must comply under the terms of the amended revolving facility.

In June 2013, the Company and Associated Bank entered into the fifth amendment to the revolving facility, the purpose of which was to (i) extend the maturity date of the revolving facility to June 15, 2014; (ii) establish minimum adjusted earnings before interest, taxes, depreciation and amortization requirements for the three-month periods ending December 31, 2012, through March 31, 2014; and (iii) establish maximum cash amounts the Company can contribute to its defined benefit pension plan during the term of the agreement.  

In December 2013, the Company and Associated Bank entered into the most recent sixth amendment to the revolving facility, the purpose of which was to increase the maximum cash amounts the Company could contribute to its defined benefit pension plan during the fourth quarter of fiscal 2013.

There were no amounts outstanding on the amended revolving facility as of December 29, 2013.  The Company is currently in compliance with all covenants of the revolving facility, as amended.