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Subsequent Event
3 Months Ended
Jul. 03, 2021
Subsequent Events [Abstract]  
Subsequent Event

14. Subsequent Event

 

 

On July 7, 2021, the Company entered into an Amended and Restated Credit Agreement with a syndicate of banks (the "2021 Credit Agreement"). The 2021 Credit Agreement provides for a $200.0 million revolving credit facility (the “Revolving Credit Facility”), including a $45.0 million letter of credit sub-facility. The 2021 Credit Agreement amended and restated the Company’s existing $100.0 million revolving credit facility. Outstanding borrowings of $26.9 million on the Company’s existing revolving credit facility were repaid at the time of closing. The Revolving Credit Facility may be utilized for working capital, capital expenditures, permitted acquisitions, permitted restricted payments and other general corporate purposes. The Revolving Credit Facility matures on July 7, 2026, and has no scheduled amortization.