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Ignite Restaurant Group, Inc. – ‘10-Q’ for 7/1/13 – ‘XML.R10’

On:  Friday, 8/9/13, at 6:36pm ET   ·   As of:  8/12/13   ·   For:  7/1/13   ·   Accession #:  1104659-13-62427   ·   File #:  1-35549

Previous ‘10-Q’:  ‘10-Q’ on 5/7/13 for 4/1/13   ·   Next:  ‘10-Q’ on 11/5/13 for 9/30/13   ·   Latest:  ‘10-Q’ on 5/16/17 for 4/3/17

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/12/13  Ignite Restaurant Group, Inc.     10-Q        7/01/13   85:9.4M                                   Toppan Merrill/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    650K 
 2: EX-10.1     Material Contract                                   HTML     24K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     29K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     29K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     24K 
 6: EX-32.2     Certification -- §906 - SOA'02                      HTML     24K 
83: R1          Document and Entity Information                     HTML     44K 
52: R2          Condensed Consolidated Balance Sheets               HTML    117K 
48: R3          Condensed Consolidated Balance Sheets               HTML     47K 
                (Parenthetical)                                                  
16: R4          Condensed Consolidated Statements of Operations     HTML     86K 
51: R5          Condensed Consolidated Statements of Cash Flows     HTML    136K 
33: R6          Basis of Presentation                               HTML     35K 
70: R7          Change in Quarterly Accounting Periods              HTML     25K 
34: R8          Acquisition                                         HTML     90K 
39: R9          Selected Balance Sheet Accounts                     HTML     65K 
17: R10         Debt Obligations                                    HTML     47K 
36: R11         Stock-Based Compensation                            HTML     38K 
69: R12         Net Income (Loss) per Share                         HTML     56K 
64: R13         Commitments and Contingencies                       HTML     40K 
49: R14         Income Taxes                                        HTML     28K 
77: R15         Segment Information                                 HTML    113K 
67: R16         Basis of Presentation (Policies)                    HTML     53K 
15: R17         Acquisition (Tables)                                HTML     85K 
20: R18         Selected Balance Sheet Accounts (Tables)            HTML     69K 
76: R19         Debt Obligations (Tables)                           HTML     42K 
81: R20         Stock-Based Compensation (Tables)                   HTML     32K 
84: R21         Net Income (Loss) per Share (Tables)                HTML     54K 
79: R22         Commitments and Contingencies (Tables)              HTML     34K 
60: R23         Segment Information (Tables)                        HTML    110K 
18: R24         Basis of Presentation (Details)                     HTML     52K 
32: R25         Change in Quarterly Accounting Periods (Details)    HTML     43K 
25: R26         Acquisition (Details)                               HTML    139K 
24: R27         Acquisition (Details 2)                             HTML     30K 
40: R28         Selected Balance Sheet Accounts (Details)           HTML     93K 
59: R29         Debt Obligations (Details)                          HTML    113K 
66: R30         Stock-Based Compensation (Details)                  HTML     38K 
29: R31         Stock-Based Compensation (Details 2)                HTML     43K 
41: R32         Net Income (Loss) per Share (Details)               HTML     52K 
73: R33         Commitments and Contingencies (Details)             HTML     42K 
27: R34         Income Taxes (Details)                              HTML     26K 
62: R35         Segment Information (Details)                       HTML     51K 
47: XML         IDEA XML File -- Filing Summary                      XML     84K 
85: XML.R1      Document and Entity Information                      XML    129K 
38: XML.R2      Condensed Consolidated Balance Sheets                XML    295K 
58: XML.R3      Condensed Consolidated Balance Sheets                XML    118K 
                (Parenthetical)                                                  
46: XML.R4      Condensed Consolidated Statements of Operations      XML    390K 
44: XML.R5      Condensed Consolidated Statements of Cash Flows      XML    380K 
14: XML.R6      Basis of Presentation                                XML     50K 
53: XML.R7      Change in Quarterly Accounting Periods               XML     40K 
13: XML.R8      Acquisition                                          XML    112K 
30: XML.R9      Selected Balance Sheet Accounts                      XML     87K 
43: XML.R10     Debt Obligations                                     XML     61K 
35: XML.R11     Stock-Based Compensation                             XML     53K 
31: XML.R12     Net Income (Loss) per Share                          XML     74K 
71: XML.R13     Commitments and Contingencies                        XML     56K 
37: XML.R14     Income Taxes                                         XML     42K 
80: XML.R15     Segment Information                                  XML    140K 
55: XML.R16     Basis of Presentation (Policies)                     XML     81K 
54: XML.R17     Acquisition (Tables)                                 XML    118K 
57: XML.R18     Selected Balance Sheet Accounts (Tables)             XML     99K 
28: XML.R19     Debt Obligations (Tables)                            XML     57K 
50: XML.R20     Stock-Based Compensation (Tables)                    XML     48K 
65: XML.R21     Net Income (Loss) per Share (Tables)                 XML     73K 
68: XML.R22     Commitments and Contingencies (Tables)               XML     51K 
72: XML.R23     Segment Information (Tables)                         XML    139K 
42: XML.R24     Basis of Presentation (Details)                      XML    310K 
23: XML.R25     Change in Quarterly Accounting Periods (Details)     XML    219K 
74: XML.R26     Acquisition (Details)                                XML   1.83M 
56: XML.R27     Acquisition (Details 2)                              XML    159K 
75: XML.R28     Selected Balance Sheet Accounts (Details)            XML    235K 
19: XML.R29     Debt Obligations (Details)                           XML   1.75M 
63: XML.R30     Stock-Based Compensation (Details)                   XML    129K 
61: XML.R31     Stock-Based Compensation (Details 2)                 XML    212K 
22: XML.R32     Net Income (Loss) per Share (Details)                XML    290K 
78: XML.R33     Commitments and Contingencies (Details)              XML    125K 
21: XML.R34     Income Taxes (Details)                               XML     68K 
82: XML.R35     Segment Information (Details)                        XML    713K 
45: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    764K 
 7: EX-101.INS  XBRL Instance -- irg-20130701                        XML   1.02M 
 9: EX-101.CAL  XBRL Calculations -- irg-20130701_cal                XML    191K 
10: EX-101.DEF  XBRL Definitions -- irg-20130701_def                 XML    689K 
11: EX-101.LAB  XBRL Labels -- irg-20130701_lab                      XML   2.94M 
12: EX-101.PRE  XBRL Presentations -- irg-20130701_pre               XML   1.34M 
 8: EX-101.SCH  XBRL Schema -- irg-20130701                          XSD    232K 
26: ZIP         XBRL Zipped Folder -- 0001104659-13-062427-xbrl      Zip    182K

‘XML.R10’   —   Debt Obligations

This Financial Report is an XBRL XML File.

                                                                                                                                                                                
<?xml version="1.0" encoding="windows-1252"?>
<InstanceReport xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<Version> 2.4.0.8 </Version>
<ReportLongName> 1050 - Disclosure - Debt Obligations </ReportLongName>
<DisplayLabelColumn> true </DisplayLabelColumn>
<ShowElementNames> false </ShowElementNames>
<RoundingOption/>
<HasEmbeddedReports> false </HasEmbeddedReports>
<Columns>
<Column FlagID="0">
<Id> 1 </Id>
<IsAbstractGroupTitle> false </IsAbstractGroupTitle>
<LabelSeparator> </LabelSeparator>
<CurrencyCode/>
<FootnoteIndexer/>
<hasSegments> false </hasSegments>
<hasScenarios> false </hasScenarios>
<MCU>
<KeyName/>
<CurrencySymbol/>
<contextRef>
<ContextID> D2013Q2YTD </ContextID>
<EntitySchema> http://www.sec.gov/CIK </EntitySchema>
<EntityValue> 0001526796 </EntityValue>
<PeriodDisplayName/>
<PeriodType> duration </PeriodType>
<PeriodStartDate> 2013-01-01T00:00:00 </PeriodStartDate>
<PeriodEndDate> 2013-07-01T00:00:00 </PeriodEndDate>
<Segments/>
<Scenarios/>
</contextRef>
<UPS/>
<CurrencyCode/>
<OriginalCurrencyCode/>
</MCU>
<CurrencySymbol/>
<Labels>
<Label Key="CalendarSupplement" Id="0" Label="6 Months Ended"/>
<Label Key="Calendar" Id="1" Label="Jul. 01, 2013"/>
</Labels>
</Column>
</Columns>
<Rows>
<Row FlagID="0">
<Id> 1 </Id>
<IsAbstractGroupTitle> true </IsAbstractGroupTitle>
<LabelSeparator> </LabelSeparator>
<Level> 1 </Level>
<ElementName> us-gaap_DebtDisclosureAbstract </ElementName>
<ElementPrefix> us-gaap_ </ElementPrefix>
<IsBaseElement> true </IsBaseElement>
<BalanceType> na </BalanceType>
<PeriodType> duration </PeriodType>
<IsReportTitle> false </IsReportTitle>
<IsSegmentTitle> false </IsSegmentTitle>
<IsCalendarTitle> false </IsCalendarTitle>
<IsEquityPrevioslyReportedAsRow> false </IsEquityPrevioslyReportedAsRow>
<IsEquityAdjustmentRow> false </IsEquityAdjustmentRow>
<IsBeginningBalance> false </IsBeginningBalance>
<IsEndingBalance> false </IsEndingBalance>
<IsReverseSign> false </IsReverseSign>
<FootnoteIndexer/>
<Cells>
<Cell FlagID="0" ContextID="" UnitID="">
<Id> 1 </Id>
<IsNumeric> false </IsNumeric>
<IsRatio> false </IsRatio>
<DisplayZeroAsNone> false </DisplayZeroAsNone>
<NumericAmount> 0 </NumericAmount>
<RoundedNumericAmount> 0 </RoundedNumericAmount>
<NonNumbericText/>
<FootnoteIndexer/>
<CurrencyCode/>
<CurrencySymbol/>
<IsIndependantCurrency> false </IsIndependantCurrency>
<ShowCurrencySymbol> false </ShowCurrencySymbol>
<DisplayDateInUSFormat> false </DisplayDateInUSFormat>
</Cell>
</Cells>
<ElementDataType> xbrli:stringItemType </ElementDataType>
<SimpleDataType> string </SimpleDataType>
<IsTotalLabel> false </IsTotalLabel>
<UnitID> 0 </UnitID>
<Label> Debt Obligations </Label>
</Row>
<Row FlagID="0">
<Id> 2 </Id>
<IsAbstractGroupTitle> false </IsAbstractGroupTitle>
<LabelSeparator> </LabelSeparator>
<Level> 2 </Level>
<ElementName> us-gaap_DebtDisclosureTextBlock </ElementName>
<ElementPrefix> us-gaap_ </ElementPrefix>
<IsBaseElement> true </IsBaseElement>
<BalanceType> na </BalanceType>
<PeriodType> duration </PeriodType>
<IsReportTitle> false </IsReportTitle>
<IsSegmentTitle> false </IsSegmentTitle>
<IsCalendarTitle> false </IsCalendarTitle>
<IsEquityPrevioslyReportedAsRow> false </IsEquityPrevioslyReportedAsRow>
<IsEquityAdjustmentRow> false </IsEquityAdjustmentRow>
<IsBeginningBalance> false </IsBeginningBalance>
<IsEndingBalance> false </IsEndingBalance>
<IsReverseSign> false </IsReverseSign>
<PreferredLabelRole> terseLabel </PreferredLabelRole>
<FootnoteIndexer/>
<Cells>
<Cell FlagID="0" ContextID="D2013Q2YTD" UnitID="">
<Id> 1 </Id>
<IsNumeric> false </IsNumeric>
<IsRatio> false </IsRatio>
<DisplayZeroAsNone> false </DisplayZeroAsNone>
<NumericAmount> 0 </NumericAmount>
<RoundedNumericAmount> 0 </RoundedNumericAmount>
<NonNumbericText>
<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Note 5 — Debt Obligations</font></b></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt;" align="center"> </p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Debt obligations consisted of the following (in thousands):</font></p> <p style="TEXT-ALIGN: center; TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;" align="center"> </p> <table style="text-align:left;WIDTH: 76.66%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 1in;" border="0" cellspacing="0" cellpadding="0" width="76%"> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 60.86%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="60%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.24%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%"> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt;" align="center"> </p></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 15.66%; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="15%" colspan="2"> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt;" align="center"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt; FONT-WEIGHT: bold;" size="1">July 1,<br /> 2013</font></b></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.26%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%"> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt;" align="center"> </p></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 15.66%; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="15%" colspan="2"> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt;" align="center"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt; FONT-WEIGHT: bold;" size="1">December 31,<br /> 2012</font></b></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="1%"> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt;" align="center"> </p></td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 60.86%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="60%"> <p style="TEXT-INDENT: -10pt; MARGIN: 0in 0in 0pt 10pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Revolving credit facility, expiring October 2017</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.24%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="1%"> <p style="MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">$</font></p></td> <td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 14.36%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="14%"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">—</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.26%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="1%"> <p style="MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">$</font></p></td> <td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 14.36%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="14%"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">45,000</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="1%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 60.86%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="60%"> <p style="TEXT-INDENT: -10pt; MARGIN: 0in 0in 0pt 10pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">New revolving credit facility, expiring April 2018</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.24%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 15.66%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="15%" colspan="2"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">55,000</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.26%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 15.66%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="15%" colspan="2"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">—</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="1%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 60.86%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="60%"> <p style="TEXT-INDENT: -10pt; MARGIN: 0in 0in 0pt 10pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">$ 50.0 million term loan, due April 2018</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.24%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 15.66%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="15%" colspan="2"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">50,000</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.26%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 15.66%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="15%" colspan="2"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">—</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="1%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 60.86%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="60%"> <p style="TEXT-INDENT: -10pt; MARGIN: 0in 0in 0pt 20pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Total debt</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.24%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 15.66%; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="15%" colspan="2"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">105,000</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.26%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 15.66%; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="15%" colspan="2"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">45,000</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="1%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 60.86%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="60%"> <p style="TEXT-INDENT: -10pt; MARGIN: 0in 0in 0pt 20pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Less current portion</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.24%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 15.66%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="15%" colspan="2"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">12,500</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.26%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 15.66%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="15%" colspan="2"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">—</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="1%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 60.86%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="60%"> <p style="TEXT-INDENT: -10pt; MARGIN: 0in 0in 0pt 20pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Long-term debt obligations</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.24%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="1%"> <p style="MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">$</font></p></td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 14.36%; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="14%"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">92,500</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.26%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="1%"> <p style="MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">$</font></p></td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 14.36%; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="14%"> <p style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt;" align="right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">45,000</font></p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.3%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="1%"> <p style="MARGIN: 0in 0in 0pt;"> </p></td></tr></table> <p style="TEXT-ALIGN: center; TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;" align="center"> </p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">On October 29, 2012, we entered into a $100.0 million five-year senior secured revolving credit facility (the “Revolving Credit Facility”), which included a letter of credit sub-facility of up to $10.0 million and a swing line sub-facility of up to $15.0 million, with a syndicate of commercial banks and other financial institutions.</font></p> <p style="TEXT-ALIGN: center; TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;" align="center"> </p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The interest rate for borrowings under the Revolving Credit Facility was equal to, at our option, either (a) LIBOR plus a margin of 2.00%, or (b) the Base Rate (as defined in the agreement) plus a margin of 1.00%. Thereafter, the applicable margins were subject to adjustment based on our leverage ratio as determined on a quarterly basis. In addition, we were required to pay a commitment fee on the unused portion of the Revolving Credit Facility. The commitment fee rate was 0.30% per annum, and was subject to adjustment thereafter on a quarterly basis based on our leverage ratio.</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt;" align="center"> </p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">To finance the Acquisition, on April 9, 2013, we entered into an amendment to our Revolving Credit Facility (“New Revolving Credit Facility”), of which $10.0 million was drawn at closing, and added a $50.0 million term loan facility (the “Term Loan” and together with the New Revolving Credit Facility, the “New Credit Facility”). The initial interest rate for borrowings under the New Credit Facility will be at LIBOR plus a margin of 3.5%, or the base rate (as defined in the agreement) plus a margin of 2.5%, as we may elect. Thereafter, the applicable margins are subject to adjustment based on our maximum leverage ratio (as defined in the agreement), as determined on a quarterly basis, with the margins ranging from 1.25% to 4.25% on LIBOR-based loans, and from 0.25% to 3.25% on base rate-based loans. In addition, we are required to pay commitment fees on the unused portion of the New Revolving Credit Facility.  The commitment fee rate is 0.50% per annum, and is subject to adjustment thereafter on a quarterly basis based on our leverage ratio. The principal amount of the Term Loan is payable in consecutive quarterly installments, commencing on September 30, 2013, with the balance thereof payable in full on the fifth anniversary of the closing date.  Total payments of $1.3 million, $3.1 million, $3.8 million, $4.4 million and $5.0 million are due during fiscal 2013, 2014, 2015, 2016 and 2017, respectively, with the balance of $32.4 million due in 2018. The New Revolving Credit Facility will mature and all amounts outstanding thereunder will be due and payable on the fifth anniversary of the closing date. We wrote off $0.5 million of debt issuance costs in connection with our amendment to our Revolving Credit Facility. Additionally, the remaining $1.5 million of unamortized debt issuance costs relating to our Revolving Credit Facility were included as a component of other assets and are being amortized over the term of the amended facility.</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt;" align="center"> </p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The New Credit Facility is guaranteed by each of our subsidiaries and secured by substantially all of our present and future assets and a lien on the capital stock or other equity interests of our direct and indirect subsidiaries. The New Credit Facility contains financial covenants including a leverage ratio and a minimum fixed charge coverage ratio, as described in the agreement. The facility also contains other covenants which, among other things limit our ability to incur additional indebtedness, create liens on our assets, make certain investments or loans, merge or otherwise dispose of assets other than in the ordinary course of business, make acquisitions, and pay dividends or make other restricted payments. The New Credit Facility allows for (a) a maximum leverage ratio of (i) 5.50x through December 29, 2013, (ii) 5.25x from December 30, 2013 through June 29, 2014, (iii) 5.0x from June 30, 2014 through December 28, 2014 and (iv) 4.75x thereafter, and (b) a minimum fixed charge ratio of 1.35x through December 29, 2013 and 1.50x thereafter. We are in compliance with these financial covenants as of July 1, 2013.</font></p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The weighted average interest rate on the New Credit Facility at July 1, 2013 was 3.74%. As of July 1, 2013, we had outstanding letters of credit of approximately $5.6 million and available borrowing capacity of approximately $39.4 million under the New Revolving Credit Facility. Included in the current portion of debt obligations as of July 1, 2013 is a $10.0 million outstanding balance on the New Revolving Credit Facility, which we expect to pay within the next 12 months.</font></p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The carrying value of our long-term debt approximates fair value. The estimate of the fair value of our debt is based on observable market information from a third party pricing source, which is classified as a level 2 input within the fair value hierarchy.</font></p> </div>
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