10. Long-Term Debt and Capital Lease Obligations:

On October 29, 2014, the Company entered into a new credit agreement (the “Credit Agreement”), which replaced the Company’s amended and restated credit agreement. The Credit Agreement provides for a $1.3 billion unsecured revolving credit facility and a $200 million term loan and includes a $75 million sub-facility for swingline loans and a $37.5 million sub-facility for the issuance of letters of credit. The Company may increase the credit facility to up to $1.8 billion on an unsecured basis, subject to the satisfaction of specified conditions. The new credit facility matures on October 29, 2019 and is guaranteed by substantially all of the Company’s subsidiaries and affiliated professional contractors. At the Company’s option, borrowings under the Credit Agreement (other than swingline loans) will bear interest at (i) the Alternate Base Rate (defined as the higher of (a) the prime rate, (b) the Federal Funds Rate plus 1/2 of 1.00% and (c) LIBOR for an interest period of one month plus 1.00%) plus an applicable margin rate ranging from 0.125% to 0.750% based on the Company’s consolidated leverage ratio or (ii) the LIBOR rate plus an applicable margin rate ranging from 1.125% to 1.750% based on the Company’s consolidated leverage ratio. Swingline loans will bear interest at the alternate base rate plus the applicable margin. The Credit Agreement also calls for other customary fees and charges, including an unused commitment fee ranging from 0.150% to 0.300% of the unused lending commitments, based on the Company’s consolidated leverage ratio.

The Credit Agreement contains customary covenants and restrictions, including covenants that require the Company to maintain a minimum interest coverage ratio, not to exceed a specified consolidated leverage ratio and to comply with laws. The New Credit Agreement permits us to pay dividends and make certain other distributions, subject to limitations specified therein. Failure to comply with these covenants would constitute an event of default under the Credit Agreement, notwithstanding the ability of the Company to meet its debt service obligations. The Credit Agreement also includes various customary remedies for the lenders following an event of default, including the acceleration of repayment of outstanding amounts under the Credit Agreement. At December 31, 2014, the Company believes it was in compliance, in all material respects, with the financial covenants and other restrictions applicable under the Credit Agreement.

Long-term debt consists of the following (in thousands):


	December 31,
	2014			2013
Term loan	$	200,000		$	—
Revolving line of credit		368,000			27,000

		568,000			27,000
Less: Current portion		(10,000	)		—

Long-term portion	$	558,000		$	27,000

The Company has an outstanding letter of credit associated with its professional liability insurance program which reduced the amount available under the Credit Agreement by $0.2 million at December 31, 2014. At December 31, 2014, the Company had an available balance on its Credit Agreement of $931.8 million.

Aggregate annual maturities of the Company’s term loan as of December 31, 2014 are as follows (in thousands):


2015	$	10,000
2016		10,000
2017		20,000
2018		30,000
2019 and thereafter		130,000

The Company’s capital lease obligations consist of the following (in thousands):


	December 31,
	2014			2013
Capital lease obligations	$	1,320		$	235
Less: Current portion		(465	)		(92	)

Long-term portion	$	855		$	143

The amounts due under the terms of the Company’s capital lease obligations at December 31, 2014 are as follows:


2015	$	465
2016		414
2017		332
2018		67
2019		42