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Subsequent Event
6 Months Ended
Jul. 04, 2015
Subsequent Event.  
Subsequent Event

14. Subsequent Event

 

On July 24, 2015, the Company amended its Credit Agreement, which consisted of a $100 million Term Loan Facility and a $130 million Revolving Credit Facility. The amended Credit Agreement (the “Amended Agreement”) consists of a $300 million five-year Revolving Credit Facility. The Company has an option to increase the size of the Revolving Credit Facility by up to an aggregate of $200 million in additional commitments, subject to certain conditions.

 

On July 24, 2015, the Company borrowed $82.5 million under the Revolving Credit Facility of the Amended Agreement. The Company used the proceeds to pay the remaining balance of its Term Loan Facility.