Debt

Long-term debt consisted of the following at:

	April 29, 2011			July 30, 2010

Term loans payable on or before April 27, 2013	$	344,377		$	347,559
Term loans payable on or before April 27, 2016		230,623			232,585
Note payable		271			346
		575,271			580,490
Current maturities		(6,746	)		(6,746	)
Long-term debt	$	568,525		$	573,744

The Company's credit facilities (the “Credit Facilities”) consist of term loans (aggregate outstanding at April 29, 2011 was $575,000) and a revolving credit facility (the “Revolving Credit Facility”), under which the Company has a borrowing capacity of $165,000 until January 27, 2013. At April 29, 2011, the Company's term loans were swapped at a weighted average interest rate of 7.47% (see Note 5).

At April 29, 2011, the Company did not have any outstanding borrowings under the Revolving Credit Facility. At April 29, 2011, the Company had outstanding $29,981 of standby letters of credit, which reduce the Company's availability under the Revolving Credit Facility (see Note 13). At April 29, 2011, the Company had $135,019 available under the Revolving Credit Facility.

The Credit Facilities contain customary financial covenants, which are specified in the agreement and include maintenance of a maximum consolidated total leverage ratio and a minimum consolidated interest coverage ratio. At April 29, 2011, the Company was in compliance with all debt covenants.

The Credit Facilities also impose restrictions on the amount of dividends the Company is able to pay. If there is no default then existing and there is at least $100,000 then available under the Revolving Credit Facility, the Company may both: (1) pay cash dividends on its common stock if the aggregate amount of dividends paid in any fiscal year is less than 15% of Consolidated EBITDA from continuing operations (as defined in the Credit Facilities) during the immediately preceding fiscal year; and (2) in any event, increase its regular quarterly cash dividend in any quarter by an amount not to exceed the greater of $.01 or 10% of the amount of the dividend paid in the prior fiscal quarter.

The note payable consists of a five-year note with a vendor in the original principal amount of $507 and represents the financing of prepaid maintenance for telecommunications equipment. The note payable is payable in monthly installments of principal and interest of $9 through October 16, 2013 and bears interest at 2.88%.