. Credit Agreements

Short-term borrowings included in the

condensed consolidated balance sheets consist of the following:

	June 30, 2017		December 31, 2016
ABL facility	$	-	$	-
Other lines of credit		22,155		31,198
Total	$	22,155	$	31,198

Long-term borrowings in the

condensed consolidated balance sheets include the following:

	June 30, 2017			December 31, 2016
Term loan	$	929,000		$	929,000
Original issue discount and deferred financing costs		(26,800	)		(26,677	)
ABL facility		100,000			100,000
Capital lease obligation		4,845			4,647
Other		7,890			14,753
Total		1,014,935			1,021,723
Less: current portion of debt		7,038			14,399
Less: current portion of capital lease obligation		662			566
Total	$	1,007,235		$	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.

May 2017,

the Company amended its Term Loan

, modifying the pricing of the facility by reducing certain applicable margin rates; base rate plus a fixed applicable margin of

1.25%

or adjusted LIBOR rate plus a fixed applicable margin of

2.25%.

Further, the amendment removed the pricing grid that would reduce the applicable margin if a net debt leverage ratio of

3.00

1.00

was achieved.

The amended Term Loan pricing is still subject to the

0.75%

LIBOR floor.

In connection with this amendment and in accordance with ASC

470

50,

Debt Modifications and Extinguishments

, the Company capitalized

$1,432

of fees as deferred financing costs on long-term borrowings and expensed

$85

of transaction fees in the

second

quarter of

2017.

As of

June 30, 2017,

the Company was in compliance with all covenants of the Term Loan. There are

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

June 30, 2017,

there was

$100,000

outstanding under the ABL Facility, leaving

$145,876

of availability, net of outstanding letters of credit.

June 30, 2017

and

December 31, 2016,

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

$22,155

and

$31,198,

respectively.