SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2016

SUBSEQUENT EVENT

SUBSEQUENT EVENT

13.SUBSEQUENT EVENT

Interest Rate Swap Agreement

During February 2017, the Company entered into Interest Rate Swaps with a combined notional of $40,000 and that mature in February 2022. The Company entered into these Interest Rate Swaps with the objective to protect the Company against adverse fluctuations in interest rates by reducing its exposure to variability in cash flows relating to interest payments on a portion of its outstanding debt.  This interest rate swap hedges approximately 60% of the outstanding Revolving Facility (Note 6) as of the date of inception.  The swap matures in full after the five-year term.