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Indebtedness | 12 Months Ended
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Oct. 02, 2016
Debt Disclosure [Abstract] |
Indebtedness | INDEBTEDNESS The detail of our long-term debt at the end of each fiscal year is as follows (in thousands):
|  | 2016 |  | 2015
Revolver, variable interest rate based on an applicable margin plus LIBOR, 2.52% at October 2, 2016 |  | $ | 282,422 |  |  | $ | 395,000 |
Term loan, variable interest rate based on an applicable margin plus LIBOR, 2.53% at October 2, 2016 |  | 694,141 |  |  | 300,000 |
Capital lease obligations, 3.6% weighted average interest rate at October 2, 2016 |  | 18,523 |  |  | 20,256 |
|  | 995,086 |  |  | 715,256 |
Less current portion |  | (57,574 | ) |  | (26,677 | )
|  | $ | 937,512 |  |  | $ | 688,579 |
New credit facility — On September 16, 2016, the Company amended its credit facility to increase its overall borrowing capacity. The amended credit facility was increased to $1.6 billion, consisting of (i) a $900.0 million revolving credit agreement and (ii) a $700.0 million term loan. The interest rate on the amended credit facility is based on the Company’s leverage ratio and can range from the London Interbank Offered Rate (“LIBOR”) plus 1.25% to 2.25% with a 0% floor on the LIBOR. The amendment also, among other things, amended certain covenants already contained in the credit agreement. Both the revolving credit agreement and the term loan have maturity dates of March 19, 2019 which did not change as part of the amendment. As part of the existing credit agreement, we may also request the issuance of up to $75.0 million in letters of credit, the outstanding amount of which reduces our net borrowing capacity under the agreement. As of October 2, 2016, our unused borrowing capacity was $592.5 million. Use of proceeds — Upon amendment, the Company borrowed $417.6 million under the amended term loan and used the full amount to pay down our revolving credit agreement. Collateral — The Company’s obligations under the credit facility are secured by first priority liens and security interests in the capital stock, partnership and membership interests owned by the Company and/or its subsidiaries, and any proceeds thereof, subject to certain restrictions set forth in the credit agreement. Additionally, there is a negative pledge on all tangible and intangible assets (including all real and personal property) with customary exceptions as reflected in the credit agreement. Covenants — We are subject to a number of customary covenants under our credit facility, including limitations on additional borrowings, acquisitions, loans to franchisees, lease commitments, stock repurchases and dividend payments, and requirements to maintain certain financial ratios as defined in the credit agreement. Future cash payments — Scheduled principal payments on our long-term debt outstanding at October 2, 2016 for each of the next five fiscal years and thereafter are as follows (in thousands):
2017 |  | $ | 57,574 |
2018 |  | 66,633 |
2019 |  | 860,353 |
2020 |  | 2,371 |
2021 |  | 2,440 |
Thereafter |  | 5,715 |
|  | $ | 995,086 |
We may make voluntary prepayments of the loans under the revolving credit agreement and term loan at any time without premium or penalty. Specific events such as asset sales, certain issuances of debt, and insurance and condemnation recoveries, may trigger a mandatory prepayment.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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