Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM DEBT (Tables)

v2.4.1.9
LONG-TERM DEBT (Tables)
 3 Months Ended
Mar. 31, 2015
Long-Term Debt [Abstract]  
Schedule of long-term debt, net of current portion
   
March 31, 2015
(Unaudited)
    
December 31, 2014
  
Long-term debt, net of current portion:
            
First Term Loan, maturing June 29, 2016, quarterly payments of $0.25 million beginning June 1, 2015; quarterly payments of $1.25 million beginning October 1, 2015; interest payable monthly at a variable rate which averaged 4.75% for both periods presented
   $ 43,092     $ 38,631  
                 
Revolving Loan, maturing June 29, 2016, interest payable monthly at a variable rate which averaged 4.75% for both periods presented
       --         2,000  
                 
Second Term Loan, maturing April 1, 2017, interest payable monthly at 14.25% per annum (13.25% prior to July 18, 2014)
     20,000       20,000  
                 
Less current portion
     (3,059 )     (1,337 )
    $ 60,033     $ 59,294  
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