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Long-Term Debt
6 Months Ended
Jun. 30, 2011
Long-Term Debt  
Long-Term Debt

5. Long-term Debt

On June 30, 2011, the Company amended its credit agreement in respect of certain financial maintenance tests with substantially the same terms. The interest rate margin increased by 300 to 400 basis points based on the method of borrowing with no interest rate floor. The amendment is effective June 30, 2011 to maturity on July 31, 2012. As at June 30, 2011, the Company is in compliance with these amended maintenance tests and Management expects to be in compliance for the next twelve months. On July 11, 2011, the Company expanded its revolving credit facility to provide up to $111.5 million, with the maturity remaining July 31, 2012.

At June 30, 2011 the Company had $10.0 million outstanding under the term facility, $62.6 million outstanding under the revolving credit facility, $3.5 million outstanding under a separate term credit facility and $3.9 million of capital lease obligations.