Subsequent Event

12 Months Ended

Dec. 29, 2018

On February 28, 2019, we entered into a Second Amendment to Credit and Guaranty Agreement with certain of our subsidiaries, as guarantors, HPS, as administrative agent and collateral agent, and the other financial institutions party thereto, as lenders. Pursuant to the amendment:


•	We are permitted to enter into up to $50 million in real estate sale leaseback transactions prior to the nine-month anniversary of the date of the amendment, with the first $30 million in net proceeds therefrom to be used for repayment of indebtedness under the Term Loan Facility, and the remaining net proceeds to be used to repay indebtedness under the Revolving Credit Facility;


•	Repayment of indebtedness from net proceeds of the sale leaseback transactions described above made prior to the deadline for delivery of our first and second quarter 2019 financial statements to the lenders under the Term Loan Facility will be deemed to have been made as of the end of our fiscal first and second quarters, respectively;


•	The total net leverage ratio was increased beginning in the first quarter of 2019, and subsequent quarterly reductions in the covenant level were modified over the term of the Term Loan Facility; and

•

The “Prepayment Premium” and related breakage costs applicable to certain prepayments of the Term Loan Facility were modified to extend until the fourth anniversary of the date of the Amendment, and to exclude from the “Applicable Make-Whole Amount” any prepayments made after the first anniversary of the date of the Term Loan Facility from the proceeds of the sale of “Specified Properties” (as such terms are defined under the Term Loan Facility).

The amendment is described in further detail in the Company's Current Report on Form 8-K, as filed with the Securities and Exchange Commission on March 4, 2019.