Debt

On July 9, 2011, the Company entered into a five-year $750,000 credit facility (the "Credit Facility") consisting of a $250,000 term loan and a $500,000 revolving credit facility ("the Revolving Credit Facility"). Additionally, the Company has a five-year note with a vendor with an 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%.

Long-term debt consisted of the following at:

	August 3, 2012			July 29, 2011
Revolving Credit Facility expiring on July 8, 2016	$	312,500		$	318,750
Term loan payable on or before July 8, 2016		212,500			231,250
Note payable		142			246
		525,142			550,246
Current maturities		(106	)		(103	)
Long-term debt	$	525,036		$	550,143

The aggregate maturities of long-term debt subsequent to August 3, 2012 are as follows:

Year
2013	$	106
2014		25,036
2015		25,000
2016		475,000
Total	$	525,142

At August 3, 2012, the Company had $31,506 of standby letters of credit, which reduce the Company's availability under the Revolving Credit Facility (see Note 17). At August 3, 2012, the Company had $155,994 in borrowing availability under the Revolving Credit Facility.

In accordance with the Credit Facility, outstanding borrowings bear interest, at the Company's election, either at LIBOR or prime plus a percentage point spread based on certain specified financial ratios. At August 3, 2012 and July 29, 2011, the Company's outstanding borrowings were swapped at a weighted average interest rate of 7.57% (see Note 6 for information on the Company's interest rate swaps).

The Credit Facility contains customary financial covenants, which include maintenance of a maximum consolidated total leverage ratio and a minimum consolidated interest coverage ratio. At August 3, 2012 and July 29, 2011, the Company was in compliance with all debt covenants.

The Credit Facility also imposes restrictions on the amount of dividends the Company is permitted to pay and the amount of shares the Company is permitted to repurchase. In April 2012, the Company amended the Credit Facility to provide more flexibility with regard to the dividends the Company is permitted to pay as well as the amount of shares the Company is able to repurchase. If there is no default then existing and the total of the Company's availability under the Revolving Credit Facility plus the Company's cash and cash equivalents on hand is at least $100,000 (the "liquidity requirements"), the Company may declare and pay cash dividends on its common stock if the aggregate amount of dividends paid in any fiscal year is less than 20% of Consolidated EBITDA from continuing operations (as defined in the Credit Facility) (the "20% limitation") during the immediately preceding fiscal year. In any event, as long as the liquidity requirements are met, dividends may be declared and paid in any fiscal year up to the amount of dividends permitted and paid in the preceding fiscal year without regard to the 20% limitation.