3) Common Unit Repurchase and Retirement

In July 2012, the Board adopted a plan to repurchase certain of the Company’s Common Units (“Plan III”). Prior to February 2018, the Company had repurchased approximately 2.7 million Common Units under Plan III. In February 2018, the Board authorized an increase of the number of Common Units that remained available for the Company to repurchase from 2.2 million to a total of 5.5 million, of which, 3.0 million were available for repurchase in open market transactions and 2.5 million were available for repurchase in privately-negotiated transactions. The Company repurchased approximately 1.1 million Common Units in the third fiscal quarter of 2018, and 3.1 million total Common Units remain available for repurchase at the end of the quarter. There is no guarantee of the exact number of units that will be purchased under the program and the Company may discontinue purchases at any time. The program does not have a time limit. The Board may also approve additional purchases of units from time to time in private transactions. The Company’s repurchase activities take into account SEC safe harbor rules and guidance for issuer repurchases. All of the Common Units purchased in the repurchase program will be retired.

Under the Company’s third amended and restated credit agreement dated July 30, 2015, in order to repurchase Common Units we must maintain Availability (as defined in the amended and restated credit agreement) of $45 million, 15.0% of the facility size of $300 million (assuming the non-seasonal aggregate commitment is in effect) on a historical pro forma and forward-looking basis, and a fixed charge coverage ratio of not less than 1.15 measured as of the date of repurchase. This covenant is consistent under the new credit agreement effective July 2, 2018 (see Footnote 14 – Subsequent Events). The Company was in compliance with this covenant as of June 30, 2018.

The following table shows repurchases under Plan III.

(in thousands, except per unit amounts) Period	Total Number of Units Purchased		Average Price Paid per Unit (a)		Total Number of Units Purchased as Part of Publicly Announced Plans or Programs		Maximum Number of Units that May Yet Be Purchased
Plan III - Fiscal year 2017 total		-	$	-		-		2,207

Plan III - First quarter fiscal year 2018 total		-	$	-		-		2,207

Plan III - Second quarter fiscal year 2018 total		1,281	$	9.38		1,281		4,219	(b)

Plan III - April 2018		626	$	9.71		626		3,593
Plan III - May 2018		202	$	9.64		202		3,391
Plan III - June 2018		261	$	9.56		261		3,130
Plan III - Third quarter fiscal year 2018 total		1,089	$	9.66		1,089		3,130

Plan III - July 2018 (c)		125	$	9.72		125		3,005	(d)

(a)	Amount includes repurchase costs.

(b)	In February 2018, the Board authorized an increase in the number of Common Units available for repurchase from 2.2 million to 5.5 million.

(c)	See Note 14 - Subsequent Events.

(d)	Of the total available for repurchase, $0.5 million are available for repurchase in open market transactions and $2.5 million are available for repurchase in privately-negotiated transactions.