NOTE 7.  LONG-TERM DEBT 

Long-term debt, net as of September 30, 2012 and December 31, 2011, 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 positive amount of asset coverage, a minimum net worth, and a fixed charge coverage ratio.  At September 30, 2012, the Company was in compliance with all associated covenants.  Under the revolving credit facility, the Company had $3,399 and $903 in letters of credit as of September 30, 2012 and December 31, 2011, respectively.