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Related Party Transactions
12 Months Ended
Dec. 31, 2012
Related Party Transactions  
Related Party Transactions

17.          Related Party Transactions

 

In connection with the Onex transaction (Note 2), we entered into an Amended and Restated management services agreement with Onex Corporation whereby Onex Corporation will advise and assist the Company from time to time on business and financial matters. We have agreed to pay Onex Corporation an annual advisory fee of $0.7 million for its services under this agreement effective December 22, 2010 for an initial term of ten years. Prior to December 22, 2010, we paid Onex Corporation an annual advisory fee of $0.4 million.

 

U.S. Bank National Association, a subsidiary of U.S. Bancorp, is a member of our lender group and holds approximately 9.3% of outstanding indebtedness under our senior secured credit facility, which was amended on April 5, 2012 and will expire on April 5, 2017. Mrs. Olivia Kirtley, a member of our board of directors, is also a member of U.S. Bancorp’s board of directors. The credit facility with our lending group was negotiated on an arms length basis with no involvement from Mrs. Kirtley.