Subsequent Events

6 Months Ended

Jun. 28, 2019

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

On July 15, 2019, the Company and U.S. Bank National Association, as trustee, entered into a first supplemental indenture (the “Supplemental Indenture”) to the Indenture, dated May 12, 2017 (as amended by the Supplemental Indenture, the “Indenture”), governing the Company’s 3.25% Convertible Senior Notes due 2024. The Supplemental Indenture expressly provides that the sale of the Company’s Distribution Segment will not violate the terms and provisions of the Indenture. The Supplemental Indenture became effective upon execution thereof, but the amendments embodied therein will not become operative until payment of the applicable consent fee, which is expected to occur on the date on which the sale transaction is consummated.

On July 24, 2019, the Company entered into Amendment No. 4 to the Amended and Restated Credit Agreement, dated as of May 6, 2015, by and among the Company, the subsidiary borrowers from time to time party thereto, the Lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, Bank of America, N.A. and Citizens Bank, N.A., as Co-Syndication Agents, and SunTrust Bank, KeyBank National Association, TD Bank, N.A., Branch Banking and Trust Company and Fifth Third Bank, as Co-Documentation Agents (as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3 and Amendment No. 4 thereto, the “Credit Agreement”), to permit the sale of the Company’s Distribution Segment under the Credit Agreement and to provide for the release of certain subsidiary guarantees and collateral in connection therewith upon the closing of the sale transaction.

The Company has evaluated subsequent events through the issuance date of these financial statements. Other than the matters noted above, no material subsequent events were identified that require disclosure.