5. 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").

Long-term debt consisted of the following at:

	August 2, 2013		August 3, 2012
Revolving Credit Facility expiring on July 8, 2016	$	212,500	$	312,500
Term loan payable on or before July 8, 2016		187,500		212,500
Note payable		--		142
		400,000		525,142
Current maturities		--		(106	)
Long-term debt	$	400,000	$	525,036

The aggregate maturities of long-term debt subsequent to August 2, 2013 are as follows:

Year
2014	$	--
2015		25,000
2016		375,000
Total	$	400,000

At August 2, 2013, the Company had $28,971 of standby letters of credit, which reduce the Company's availability under the Revolving Credit Facility (see Note 16). At August 2, 2013, the Company had $258,529 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 2, 2013 and August 3, 2012, the Company's outstanding borrowings were swapped at weighted average interest rates of 3.73% and 7.57%, respectively (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 2, 2013 and August 3, 2012, 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. Prior to the June 3, 2013 amendment described below, if there was no default 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 could 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 were met, dividends could 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.

Effective June 3, 2013, the Company amended the Credit Facility to provide more flexibility with regard to the dividends the Company is permitted to pay. Under the amended Credit Facility, if there is no default existing and the liquidity requirements are met, the Company may declare and pay cash dividends on shares of its common stock if the aggregate amount of dividends paid in any fiscal year is less than the sum of (1) the 20% limitation and (2) $100,000 (less the amount of any share repurchases during the current fiscal year), provided the Company's consolidated total leverage ratio is 3.25 to 1.00 or less. 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.