Long-Term Debt

Long-term debt consists of:



	June 30, 2015		September 30, 2014
Revolving credit agreement	$	19,187	$	6,429

Term loan	20,000		4,000
Less: unamortized debt issuance cost	322		—
Term loan less unamortized debt issuance cost	19,678		4,000
	38,865		10,429
Less – current maturities	2,857		2,000
Total long-term debt	$	36,008	$	8,429

In October 2011, the Company entered into an amendment to its then existing credit agreement with its bank increasing the maximum borrowing amount from $30,000 to $40,000, of which $10,000 was a five year term loan and $30,000 was a five year revolving loan, secured by substantially all of the assets of the Company and its U.S. subsidiaries and a pledge of 65% of the stock of its Irish subsidiary. The term loan was repayable in quarterly installments of $500 starting December 1, 2011.

On June 26, 2015 the Company entered into a new Credit and Security Agreement (the "Credit Agreement") with a new lender. The new credit facility is comprised of (i) a five year revolving credit facility with a maximum borrowing amount of up to $25,000, which reduces to $20,000 on January 1, 2016, and (ii) a five year term loan of $20,000. Amounts borrowed under the credit facility are secured by substantially all the assets of the Company and its U.S. subsidiaries and a pledge of 65% of the stock of its non-U.S. subsidiaries. The new term loan is repayable in quarterly installments of $714 starting September 30, 2015. The amounts borrowed under the Credit Agreement were used to repay the Company's previous revolver and term note, to fund the acquisition of C Blade, effective July 1, 2015 (see Note 9) and for working capital and general corporate purposes. The Credit Agreement also has an accordion feature, which allows the Company to increase the availability by up to $15,000 upon consent of the existing lenders or upon additional lenders being joined to the facility. Borrowings will bear interest at the LIBOR rate, prime rate, or the eurocurrency reference rate depending on the type of loan requested by the Company, in each case, plus the applicable margin as set forth in the Credit Agreement.

The new revolver and term loan have a prime-base rate that was 5.0% at June 30, 2015. The new loans are subject to certain customary financial covenants including, without limitation, covenants that require the Company to not exceed a maximum debt to EBITDA ratio and to maintain a minimum fixed charge coverage ratio. There is also a commitment fee ranging from 0.15% to 0.35% to be incurred on the unused balance. There were no applicable loan covenants required to be met as of June 30, 2015.

The Company incurred debt issuance costs in the amount of $724 for the nine months and three months ended June 30, 2015. There were no prior period debt issuance costs associated with the previous credit agreement. As noted in Note 1, the Company early adopted ASU 2015-03, which allows the Company to present debt issuance costs on the Consolidated Condensed Balance Sheet related to the term note as a direct deduction from the principal amount. As shown above, $322 was capitalized related to the term note. The remaining $402 debt issuance cost relates to the revolver. This portion is shown in the Consolidated Condensed Balance Sheet as a deferred charge in Other Assets at June 30, 2015.