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Related Party Transactions
6 Months Ended
Jun. 30, 2011
Related Party Transactions  
Related Party Transactions

8.  RELATED PARTY TRANSACTIONS

 

A member of the Company's Board of Directors, Gerald S. Lippes, is a partner in a law firm that provides legal services to the Company.  For the three and six months ended June 30, 2011, the Company incurred expense of $672,000 and $1,224,000, respectively, for legal services from this firm.  The Company incurred $326,000 and $545,000 for legal services from this firm during the three and six months ended June 30, 2010, respectively.  Of the amounts incurred during the six months ended June 30, 2011 and 2010, $170,000 and $154,000, respectively, related to services provided in connection with the sale of businesses and were recognized as a component of discontinued operations.  All other amounts incurred during the 2011 and 2010 periods were expensed as a component of selling, general, and administrative expenses.  At June 30, 2011 and December 31, 2010, the Company had $361,000 and $266,000, respectively, recorded in accounts payable for amounts due to this law firm.

 

A member of the Company's Board of Directors, Robert E. Sadler, Jr., is a member of the Board of Directors of M&T Bank Corporation, one of the eleven participating lenders which have committed capital under the Company's Third Amended and Restated Credit Agreement dated July 24, 2009 (the Senior Credit Agreement).  As of June 30, 2011 and December 31, 2010, the Senior Credit Agreement provided the Company with a revolving credit facility with availability up to $200 million.  See Note 9 to the consolidated financial statements for the amounts outstanding on the revolving credit facility as of June 30, 2011 and December 31, 2010.