Credit Agreement

9 Months Ended

Oct. 01, 2016

Credit Agreement

Credit Agreement

10. Credit Agreement

        CRA is party to a credit agreement that provides CRA with a $125.0 million revolving credit facility and a $15.0 million sublimit for the issuance of letters of credit. CRA may use the proceeds of the revolving credit facility to provide working capital and for other general corporate purposes. CRA may repay any borrowings under the revolving credit facility at any time, but no later than April 24, 2018. There were no borrowings outstanding under this revolving line of credit as of October 1, 2016.

        As of October 1, 2016, the amount available under this revolving line of credit was reduced by certain letters of credit outstanding, which amounted to $2.2 million. Under the credit agreement, CRA must comply with various financial and non-financial covenants. Compliance with these financial covenants is tested on a quarterly basis. As of October 1, 2016, CRA was in compliance with the covenants of its credit agreement.