On the Company entered into the Fourth Amendment (the “Fourth Amendment”) to its Credit Agreement, entered into on the “Credit Agreement”). The Fourth Amendment allows for, among other things, a loan to the Company for the repurchase of up to approximately million shares of capital stock from an individual shareholder, his affiliates, and a shareholder, in an aggregate amount to exceed million (“Term Loan C”); and allows for capital expenditure financing to the Company for the sole purpose of purchasing medical equipment in an aggregate amount to exceed million (the “Equipment Line”). There are principal payments due on the Equipment Line until at which time it will convert to an additional term loan. The Fourth Amendment also made changes to certain covenants, specifically, to exclude borrowings used to fund the stock repurchases referenced above from the definition of fixed charges, as defined by the Credit Agreement, and to reduce the ratio of earnings before depreciation, income taxes and amortization to fixed charges from to In addition, the Amendment eliminates the net worth covenant and the excess cash flow provisions while modifying the quarterly principal payment amounts. Term Loan C matures on and the Equipment Line matures on

 

As of the Company was in compliance with all debt-related covenants under the Credit Agreement. Subsequent to the end of the Company entered into a amendment to the Credit Agreement as discussed in Note in the Notes to the Consolidated Financial Statements included in this Form -K. 

 

The net availability under the revolving credit facility under the Credit Agreement (the “Revolver”) is based upon the Company’s eligible accounts receivable and eligible inventory and was comprised as follows (in thousands):

 

		December 31,				December 31,
		2018				2017
Revolver:
Gross Availability		$	9,973			$	10,000
Outstanding Draws			-				-
Letter of Credit			(750	)			(750	)
Landlord Reserves			(70	)			(45	)
Availability on Revolver		$	9,153			$	9,205

 

 

The Company had future maturities of loans as of as follows (in thousands):

 

		2019				2020				2021				2022				2023 and thereafter				Total
Term Loan A		$	3,584			$	3,584			$	16,143			$	-			$	-			$	23,311
Term Loan C			1,229				1,229				5,528				-				-				7,986
Equipment Line			128				512				512				512				898				2,562
Unamortized value of debt issuance costs			(38	)			(38	)			(38	)			-				-				(114	)
Total		$	4,903			$	5,287			$	22,145			$	512			$	898			$	33,745

 

The following is a breakdown of the Company’s current and long-term debt as of and in thousands):

 

		December 31, 2018												December 31, 2017
		Current Portion				Long-Term Portion				Total				Current Portion				Long-Term Portion				Total
Term Loan A		$	3,584			$	19,727			$	23,311			$	3,067			$	25,444			$	28,511
Term Loan C			1,229				6,757				7,986				-				-				-
Equipment Line			128				2,434				2,562				-				-				-
Unamortized value of debt issuance costs			(38	)			(76	)			(114	)			(28	)			(92	)			(120	)
Revolver			-				-				-				-				-				-
Total		$	4,903			$	28,842				33,745			$	3,039			$	25,352				28,391

 

As of interest on the credit facility is payable at our option as a (i) Eurodollar Loan, which bears interest at a per annum rate equal to the applicable -day London Interbank Offered Rate (“LIBOR”) plus an applicable margin ranging from to or (ii) CB Floating Rate (“CBFR”) Loan, which bears interest at a per annum rate equal to the greater of (a) the lender’s prime rate or (b) LIBOR plus in each case, plus a margin ranging from - to The actual Eurodollar Loan rate at was (LIBOR of plus ). The actual CBFR Loan rate at was (lender’s prime rate of ).