XML 47 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Primary Financing Facilities
3 Months Ended
Sep. 27, 2012
Primary Financing Facilities

Note 4 – Primary Financing Facilities

On February 7, 2008, we entered into a Credit Agreement with a bank group (the “Bank Lenders”) providing a $117,500 revolving loan commitment and letter of credit subfacility and subsequently amended the Credit Agreement in March 2010, July 2011 and October 2011 (as amended, the “Credit Facility”). As of September 27, 2012, we had $71,876 of available credit under the Credit Facility which reflects borrowings of $38,067 and reduced availability as a result of $7,557 in outstanding letters of credit. We would still be in compliance with all restrictive covenants under the Credit Facility if the entire available amount were borrowed.

Also on February 7, 2008, we entered into a Loan Agreement with an insurance company (the “Mortgage Lender”) providing us with two term loans, one in the amount of $36,000 (“Tranche A”) and the other in the amount of $9,000 (“Tranche B”), for an aggregate amount of $45,000 (the “Mortgage Facility”). As of September 27, 2012, we were in compliance with all covenants under the Mortgage Facility. We have classified $23,200 under Tranche A as long-term debt which represents scheduled principal payments due under Tranche A beyond twelve months of September 27, 2012. All amounts outstanding under Tranche B are classified as short-term debt as of September 27, 2012, since the Mortgage Lender has the option to use proceeds of any sale of the site that was originally purchased by the Company in Elgin, Illinois to reduce the amount outstanding under Tranche B.