Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.10.0.1
Subsequent Events
6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
 
Note 18 – Subsequent Events
 
On August
13
,
2018
, LFS and LHLLC, with the other guarantors, entered into the Fifth Amendment to Credit Agreement and Limited Waiver (the “Fifth Amendment and Limited Waiver”) with the lenders party thereto and Fifth Third Bank, as administrative agent and L/C Issuer. The Fifth Amendment and Limited Waiver includes a waiver of the Company’s compliance with the fixed charge coverage ratio at
June 30, 2018
and amends the Credit Agreement to require
a fixed charge coverage ratio of not less than 1.15 for the future fiscal quarters ending up to and including December 31, 2018, and 1.25 for all fiscal quarters ending thereafter.
The Fifth Amendment and Limited Waiver also requires the Company to engage a consultant to review with its 
audit firm its progress 
related to 
the remediation of 
its material weaknesses 
in internal control, 
as disclosed in its Annual Report on Form
10
-K for the year ended
December 31, 2017
, and a limited scope field examination of the Company’s 
Mid-Atlantic 
branch operations and contract administration procedures.