Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v2.4.1.9
LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2014
Long-Term Debt [Abstract]  
Schedule of long-term debt, net of current portion
    
2014
    
2013
  
Long-term debt, net of current portion:
            
First Term Loan, maturing June 29, 2016, variable interest rate which averaged 4.75% and 5.4% during 2014 and 2013
   $ 38,631     $ 37,500  
                 
Second Term Loan, maturing April 1, 2017, interest rate is fixed at 14.25% per annum
     20,000       20,000  
                 
Revolving Loan, maturing June 29, 2016, variable interest rate which averaged 4.75% in 2014
     2,000       --  
                 
Less current portion
     (1,337 )     --  
    $ 59,294     $ 57,500  
Schedule of first and second lien leverage ratio and fixed charge coverage ratio
First Lien Credit Facility
  
 
 
Applicable Period
  
Maximum
Total Leverage 
Ratio
    
Maximum
First Lien Leverage 
Ratio
    
Minimum
Fixed Charge 
Coverage Ratio
  
June 30, 2014 through and including September 29, 2014
     4.75 x     3.50 x     1.10 x
September 30, 2014 through and including December 30, 2014
     5.50 x     3.50 x     1.10 x
December 31, 2014 through and including June 29, 2015
     5.50 x     4.00 x     1.10 x
June 30, 2015 through and including September 29, 2015
     4.75 x     3.50 x     1.10 x
September 30, 2015 through and including December 30, 2015
     4.50 x     3.25 x     1.10 x
December 31, 2015 through and including March 30, 2016
     4.25 x     3.00 x     1.10 x
March 31, 2016 and thereafter
     4.25 x     3.00 x     1.10 x
                   
Second Lien Credit Facility
  
 
 
Applicable Period
  
Maximum
Total Leverage 
Ratio
    
Maximum
First Lien Leverage 
Ratio
    
Minimum
Fixed Charge 
Coverage Ratio
  
June 30, 2014 through and including September 29, 2014
     5.00 x     3.75 x     1.00 x
September 30, 2014 through and including December 30, 2014
     5.75 x     3.75 x     1.00 x
December 31, 2014 through and including March 30, 2015
     5.75 x     4.25 x     1.00 x
March 31, 2015 through and including June 29, 2015
     5.75 x     4.25 x     1.00 x
June 30, 2015 through and including September 29, 2015
     5.00 x     3.75 x     1.00 x
September 30, 2015 through and including December 30, 2015
     4.75 x     3.50 x     1.00 x
December 31, 2015 through and including March 30, 2016
     4.50 x     3.25 x     1.00 x
March 31, 2016 and thereafter
     4.50 x     3.25 x     1.00 x
Schedule of maturities of long-term debt
2015
   $ 1,337  
2016
     39,294  
2017
     20,000  
    $ 60,631