Long-Term Debt | Long-Term Debt Long-term debt consisted of the following: March 31, 2018 December 31, 2017 Revolving Credit Agreement $ — $ — Term Loan Credit Facility 199,500 200,000 Less: Unamortized original issue discount (1,922 ) (1,992 ) Less: Unamortized debt issuance costs (3,533 ) (3,643 ) Other notes payable 2,097 3,054 Total debt 196,142 197,419 Less: current portion of long-term debt (2,968 ) (2,957 ) Long-term debt $ 193,174 $ 194,462 Revolving Credit Agreement On December 22, 2017, the Partnership entered into a second amended and restated credit agreement (the "Revolving Credit Agreement"), which matures on December 22, 2022 , replacing its prior revolving credit agreement. As of March 31, 2018 , the Revolving Credit Agreement, as amended, is a senior secured revolving credit facility that permits aggregate borrowings of up to $125,000 , including a $30,000 sublimit for letters of credit and a $10,000 sublimit for swing line loans. As of March 31, 2018 , we had $103,847 of undrawn borrowing capacity ( $125,000 , net of $21,153 letter of credit commitments) and no indebtedness under our Revolving Credit Agreement. Borrowings under the Revolving Credit Agreement bear interest at a rate equal to, at the Partnership's option, either (1) a base rate plus an applicable margin ranging between 1.50% per annum and 2.25% per annum, based upon the Partnership's leverage ratio, or (2) a Eurodollar rate plus an applicable margin ranging between 2.50% per annum and 3.25% per annum, based upon the Partnership's leverage ratio. The Revolving Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants, including limits or restrictions on the Partnership’s ability to incur liens, incur indebtedness, make certain restricted payments, merge or consolidate, and dispose of assets. The Revolving Credit Agreement requires compliance with customary financial covenants, which are a maximum leverage ratio of 3.25 x, a minimum interest coverage ratio of 2.5 x and an asset coverage ratio of 1.5 x. The Revolving Credit Agreement generally permits repurchases of common units. As of March 31, 2018 , we are in compliance with the covenants contained in the Revolving Credit Agreement. Our ability to comply with such covenants in the future, and access our undrawn borrowing capacity under our Revolving Credit Agreement, is dependent primarily on achieving certain levels of EBITDA, as defined. The Revolving Credit Agreement provides for an "equity cure" that can be applied to EBITDA covenant ratios. Refer to Note 8 - Equity for information regarding our equity distribution program. The Revolving Credit Agreement contains customary events of default (some of which are subject to applicable grace or cure periods), including among other things, non-payment defaults, covenant defaults, cross-defaults to other material indebtedness, bankruptcy and insolvency defaults, and material judgment defaults. Such events of default could entitle the lenders to cause any or all of the Partnership’s indebtedness under the Revolving Credit Agreement to become immediately due and payable. If such a default were to occur, and resulted in a cross default of the Term Loan Credit Agreement, as described below, all of our outstanding debt obligations could be accelerated which would have a material adverse impact on the Partnership. The Revolving Credit Agreement is secured by substantially all assets of the Partnership. In addition, the Partnership's subsidiaries have guaranteed the Partnership's obligations under the Revolving Credit Agreement and have granted to the revolving lenders security interests in substantially all of their respective assets. Term Loan Credit Facility On December 22, 2017, the Partnership entered into an amended and restated credit agreement (the "Term Loan Credit Agreement") providing for a senior secured term loan credit facility (the "Term Loan Credit Facility") that permits aggregate borrowings of up to $200,000 , which was fully drawn on December 22, 2017, replacing its prior term loan credit agreement. The Term Loan Credit Agreement permits the Partnership, at its option, to add one or more incremental term loan facilities in an aggregate amount not to exceed $100,000 . Any incremental term loan facility would be on terms to be agreed among the Partnership, the administrative agent and the lenders who agree to participate in the incremental facility. The maturity date of the Term Loan Credit Facility is December 22, 2024 . The Term Loan Credit Agreement is secured by substantially all assets of the Partnership. In addition, the Partnership’s subsidiaries have guaranteed the Partnership’s obligations under the Term Loan Credit Agreement and have granted to the lenders security interests in substantially all of their respective assets. Borrowings under the Term Loan Credit Agreement bear interest at a rate equal to, at the Partnership’s option, either (1) a base rate plus an applicable margin of 2.75% per annum or (2) a Eurodollar rate plus an applicable margin of 3.75% per annum, subject to a LIBOR floor of 1.00% . Both base rate loans and Eurodollar loans are subject to a 0.25% rate increase during any period of time in which the Partnership does not have a public company family rating of B2 or better from Moody's Investors Service Inc. ("Moody's"). As of April 25, 2018 , the credit rating of the Partnership’s senior secured term loan credit facility was B3 from Moody’s and B- from Standard and Poor’s. The Term Loan Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants, including limits or restrictions on the Partnership’s ability to incur liens, incur indebtedness, make certain restricted payments, merge or consolidate and dispose of assets. In addition, it contains customary events of default that entitle the lenders to cause any or all of the Partnership’s indebtedness under the Term Loan Credit Agreement to become immediately due and payable. The events of default (some of which are subject to applicable grace or cure periods), include, among other things, non-payment defaults, covenant defaults, cross-defaults to other material indebtedness, bankruptcy and insolvency defaults and material judgment defaults. As of March 31, 2018 , we were in compliance with the terms of the agreement. As of March 31, 2018 , we had $194,045 indebtedness ( $199,500 , net of $1,922 of discounts and $3,533 of debt issuance costs) under our Term Loan Credit Facility, which carried an interest rate of 6.31% . Other Notes Payable On October 24, 2014, the Partnership entered into a purchase and sales agreement to acquire land and underlying frac sand deposits. During the years ended December 31, 2016, 2015 and 2014, the Partnership paid cash consideration of $2,500 , and issued a three -year promissory note in the amount of $3,676 , respectively, in connection with this agreement. The promissory notes accrue interest at rates equal to the applicable short-term federal rates. All principal and accrued interest is due and payable at the end of the respective three-year promissory note terms in December 2019, December 2018 and October 2017. However, the promissory notes are prepaid on a quarterly basis during the three-year terms as sand is extracted, delivered, sold and paid for from the properties. The Partnership made prepayments of $957 and $962 during the three months ended March 31, 2018 and 2017 , respectively, based on the accumulated volume of sand extracted, delivered, sold and paid for. In April 2018, the Partnership made a prepayment of $968 based on the volume of sand extracted, delivered, sold and paid for through the first quarter of 2018 . As of March 31, 2018 , the Partnership had repaid in full the promissory notes due in October 2017 and December 2018 and had $2,097 outstanding on its remaining promissory note, which carried an interest rate of 0.74% |