. Credit Agreements

Short-term borrowings included in the

condensed consolidated balance sheets consist of the following:

	March 31,		December 31,
	2017		2016
ABL facility	$	-	$	-
Other lines of credit		28,078		31,198
Total	$	28,078	$	31,198

Long-term borrowings in the

condensed consolidated balance sheets include the following:

	March 31,			December 31,
	2017			2016
Term loan	$	929,000		$	929,000
Original issue discount and deferred financing costs		(26,187	)		(26,677	)
ABL facility		100,000			100,000
Capital lease obligation		4,724			4,647
Other		14,876			14,753
Total		1,022,413			1,021,723
Less: current portion of debt		13,870			14,399
Less: current portion of capital lease obligation		645			566
Total	$	1,007,898		$	1,006,758

The

Company’s credit agreements originally provided for a

$1,200,000

term loan B credit facility (Term Loan) and currently include a

$300,000

uncommitted incremental term loan facility. In

November

2016,

the Company amended its Term Loan to extend the maturity date from

May

31,

2020

May

31,

2023.

The Term Loan is guaranteed by all of the Company’s wholly-owned domestic restricted subsidiaries, and is secured by associated collateral agreements which pledge a

first

priority lien on virtually all of the Company’s assets, including fixed assets and intangibles, other than all cash, trade accounts receivable, inventory, and other current assets and proceeds thereof, which are secured by a

second

priority lien. The Term Loan initially bore interest at rates based upon either a base rate plus an applicable margin of

1.75%

or adjusted LIBOR rate plus an applicable margin of

2.75%,

subject to a LIBOR floor of

0.75%.

Beginning in the

second

quarter of

2014,

and measured each quarterly period thereafter, the applicable margin related to base rate loans is reduced to

1.50%

and the applicable margin related to LIBOR rate loans is reduced to

2.50%,

in each case, if the Borrower’s net debt leverage ratio, as defined in the Term Loan, falls below

3.00

1.00

for that measurement period. The Company’s net debt leverage ratio as of

March

31,

2017

was above

3.00

1.00.

As of

March

31,

2017,

the Company is in compliance with all covenants of the Term Loan. There are no financial maintenance covenants on the Term Loan.

The Company

’s credit agreements also provide for a

$250,000

senior secured ABL revolving credit facility (ABL Facility). The maturity date of the ABL Facility is

May

29,

2020.

Borrowings under the ABL Facility are guaranteed by all of the Company’s wholly-owned domestic restricted subsidiaries, and are secured by associated collateral agreements which pledge a

first

priority lien on all cash, trade accounts receivable, inventory, and other current assets and proceeds thereof, and a

second

priority lien on all other assets, including fixed assets and intangibles of the Company and certain domestic subsidiaries. ABL Facility borrowings bear interest at rates based upon either a base rate plus an applicable margin of

0.50%

or adjusted LIBOR rate plus an applicable margin of

1.50%,

in each case, subject to adjustments based upon average availability under the ABL Facility.

May

2015,

the Company borrowed

$100,000

under the ABL Facility, the proceeds of which were used as a voluntary prepayment towards the Term Loan. As of

March

31,

2017,

there was

$100,000

outstanding under the ABL Facility, leaving

$138,097

of availability, net of outstanding letters of credit.

March

31,

2017

and

December

31,

2016,

short-term borrowings consisted of borrowings by our foreign subsidiaries on local lines of credit, which totaled

$28,078

and

$31,198,

respectively.