Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.10.0.1
Debt (Tables)
9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
Long-term debt consists of the following obligations as of:
  
(in thousands)
 
September 30,

2018
 
 
December 31,

2017
 
Credit Agreement – revolver
 
$
11,976
 
 
$
5,658
 
Bridge Term Loan – term loan payable in quarterly installments of principal, plus interest through April 2019
 
 
7,986
 
 
 
-
 
Credit Agreement – term loan payable in quarterly installments of principal, plus interest through July 2021
 
 
15,235
 
 
 
17,635
 
Capital leases – collateralized by vehicles, payable in monthly installments of principal, plus interest ranging from
4.95
% to
5.39
% through 2022
 
 
4,402
 
 
 
3,830
 
Total debt
 
 
39,599
 
 
 
27,123
 
Less - Current portion
 
 
(36,628
)
 
 
(6,358
)
Less - Debt issuance costs
 
 
(327
)
 
 
(209
)
Long-term debt
 
$
2,644
 
 
$
20,556
 
Senior Leverage ratio covenant [Table Text Block]
The following is a summary of the additional margin and commitment fees payable on the available revolving credit commitment:
 
Level
 
Senior Leverage Ratio
 
Additional Margin for

Base Rate loans
 
 
Additional Margin for

Libor Rate loans
 
 
Commitment Fee
 
I
 
Greater than or equal to 2.50 to  1.00
 
 
3.00
%
 
 
4.00
%
 
 
0.50
%
II
 
Less than 2.50 to 1.00, but greater than or equal to 2.00 to 1.00
 
 
2.75
%
 
 
3.75
%
 
 
0.50
%
III
 
Less than 2.00 to 1.00, but greater than or equal to 1.50 to 1.00
 
 
2.50
%
 
 
3.50
%
 
 
0.50
%
IV
 
Less than 1.50 to 1.00
 
 
2.25
%
 
 
3.25
%
 
 
0.50
%