Long-Term Debt
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Jun. 30, 2011
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Long-Term Debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-Term Debt |
NOTE 6. LONG-TERM DEBT
Long-term debt, net as of June 30, 2011 and December 31, 2010, was as follows:
The long-term debt agreements contain certain restrictive debt covenants that require the Company and its subsidiaries to maintain a minimum Trailing Twelve Month earnings before interest, taxes, depreciation, and amortization ("EBITDA"), a minimum tangible net worth, and a positive amount of asset coverage. At June 30, 2011, the Company was in compliance with all associated covenants.
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