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Debt
9 Months Ended
Jun. 30, 2012
Debt Instruments [Abstract]  
Debt
DEBT
On May 15, 2012, the Company entered into a five-year, $250 million senior unsecured credit facility that terminates on May 15, 2017 (the “New Credit Facility”). The New Credit Facility includes a $160 million revolving credit facility and a $90 million term loan. The revolving credit facility may be increased by $100 million (the "increase option") to $260 million generally by mutual agreement of the Company, the lenders, the letter of credit issuers and the administrative agent named in the related credit agreement (the "Credit Agreement"), subject to certain customary conditions. The New Credit Facility was used to refinance the Company's then-existing $100 million senior unsecured revolving credit facility (no amounts were outstanding as of May 15, 2012) and its $150 million senior unsecured term loan (balance of $90.0 million as of May 15, 2012), both of which were scheduled to mature on April 4, 2013 (the “Prior Credit Facility”), and for general corporate purposes.
The financial covenants (as defined under the New Credit Facility) require that the Company maintain, as of each fiscal quarter end, a maximum total leverage ratio and a minimum interest coverage ratio. As of June 30, 2012, the Company was in compliance with all covenants of the New Credit Facility. Borrowings under the New Credit Facility, at the Company's option, bear interest at a defined base rate or the LIBOR rate plus, in each case, an applicable margin based upon the Company's leverage ratio as defined in the Credit Agreement. Rates would increase upon negative changes in specified Company financial metrics and would decrease upon reduction in the current total leverage ratio to no less than LIBOR plus 1.00% or base rate plus 0%. The Company is also required to pay an annual commitment fee on the unused revolver credit commitment based on the Company's leverage ratio; the fee was 0.20% as of June 30, 2012.

In connection with the New Credit Facility, the Company incurred approximately $0.9 million in new debt issuance costs, which are being amortized over the five-year term of the New Credit Facility. In addition, at the time of the refinancing the Company expensed approximately $0.2 million related to the transactions.
The Company repaid $3.75 million of term loans outstanding on its New Credit Facility in the third quarter of fiscal 2012. During each of the first two quarters of fiscal 2012, the Company repaid $3.75 million of term loans outstanding on its Prior Credit Facility. As of June 30, 2012, the Company had term loan borrowings of $86.3 million outstanding and no revolving borrowings under the New Credit Facility.
During each of the first three quarters of fiscal 2011, the Company repaid $3.75 million each quarter of term loans outstanding under its Prior Credit Facility. As of July 2, 2011, the Company had term loan borrowings of $101.3 million outstanding and no revolving borrowings under the Prior Credit Facility.
During the third quarter of fiscal 2011, the Company entered into a Note Purchase Agreement with certain institutional investors and issued $175 million in principal of 5.20% Senior Notes, due on June 15, 2018 (the “Notes”). The Company had $175 million principal of Notes outstanding as of both June 30, 2012 and July 2, 2011.