9. Debt

Debt consisted of the following (in thousands):


	September 27, 2013		December 31, 2012
Senior Credit Facilities – term loan	$	44,375	$	50,000
Senior Credit Facilities – revolving credit facility		34,000		—

Total Senior Credit Facilities	$	78,375	$	50,000

Senior Credit Facilities

The Company’s amended and restated senior secured credit agreement (the “Amended and Restated Credit Agreement”) provides for a $50.0 million, 5-year, term loan facility due in quarterly installments of $1.9 million beginning in January 2013 and a $75.0 million, 5-year, revolving credit facility (collectively, the “Senior Credit Facilities”) that matures in December 2017. Quarterly installments due in the next twelve months amount to $7.5 million and are classified as a current liability in the consolidated balance sheet. On September 13, 2013, we entered into a third amendment to the Amended and Restated Credit Agreement (the “Third Amendment”). The Third Amendment increases the accordion feature provided in the Amended and Restated Credit Agreement from uncommitted $50.0 million to uncommitted $100.0 million in aggregate of our revolving credit facility and term loan.

The Company is required to satisfy certain financial and non-financial covenants under the Amended and Restated Credit Agreement. The Company is in compliance with these covenants as of September 27, 2013.

Fair Value of Debt

As of September 27, 2013 and December 31, 2012, the outstanding balance of the Company’s Senior Credit Facilities approximated their fair value based on current rates available to the Company for debt of the same maturity, and is classified as Level 2 within the fair value hierarchy.