Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v2.4.0.8
LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2013
Long-Term Debt [Abstract]  
Schedule of long-term debt, net of current portion
   
2013
    
2012
  
Long-term debt, net of current portion:
            
Term loan agreement, $50.0 million on June 29, 2012, funded on October 1, 2012, maturing June 29, 2016, with variable interest as described in the fourth succeeding paragraph. (the average interest rate was 4.75% and 5.4% during the quarter and year ended December  31, 2013, respectively)
   $    37,500     $    48,750  
Term loan agreement, $20.0 million on October 1, 2012, maturing October 1, 2016, interest rate is fixed at 13.25% per annum.
     20,000       20,000  
Less current portion
     --       ( 2,500 )
    $ 57,500     $ 66,250  
Schedule of total and first lien leverage ratio and fixed charge coverage ratio
First Lien Credit Agreement
Applicable Period   Maximum
Total Leverage 
Ratio 		  Maximum
First Lien Leverage 
Ratio 		  Minimum
Fixed Charge Coverage
Ratio
Initial funding date through and including December 31, 2014   4.00x   2.75x   1.10x
January 1, 2015 through and including December 31, 2015   3.75x   2.50x   1.10x
January 1, 2016 and thereafter   3.50x   2.25x   1.10x
             
Second Lien Credit Agreement
Applicable Period   Maximum
Total Leverage 
Ratio		   Maximum
First Lien Leverage
Ratio		   Minimum
Fixed Charge Coverage
Ratio
Initial funding date through and including September 30, 2013   4.00x   3.00x   1.00x
October 1, 2013 through and including September 30, 2014   3.75x   2.75x   1.00x
October 1, 2014 and thereafter   3.50x   2.50x   1.00x
 
Schedule of maturities of long-term debt
2014
   $ --  
2015
     1,250  
2016
     56,250  
2017
     --  
    $ 57,500