	December 31, 2020
	Principal		Unamortized Discount			Total
Term Loan Credit Agreement	$	40,000	$	(412	)	$	39,588
Less: current portion of term loan		—		—			—
Non-current portion of term loan	$	40,000	$	(412	)	$	39,588

	December 31, 2019
	Principal		Unamortized Discount			Net Carrying Value
Term Loan Agreement	$	40,000	$	(586	)	$	39,414
Less: current portion of term loan		—		—			—
Non-current portion of term loan	$	40,000	$	(586	)	$	39,414

Principal, interest and fee payments on the Term Loan Credit Agreement (as defined below) are expected to be as follows (in thousands):

Year ended December 31,	Principal		Interest and Fees		Total
2021	$	—	$	3,041	$	3,041
2022		15,000		2,660		17,660
2023		20,000		1,203		21,203
2024		5,000		1,264		6,264
Total	$	40,000	$	8,168	$	48,168

On March 29, 2019 (the “Closing Date”), the Company entered into a Credit, Security and Guaranty Agreement (Term Loan) (the “Term Loan Credit Agreement”) with MidCap Financial Trust (“MidCap”) to borrow up to $70 million in three tranches (collectively “2019 Term Loan”), with a maturity date of March 1, 2024. The first advance of $40.0 million (“Tranche 1”) was drawn by the Company on March 29, 2019, with the proceeds used in part to repay in full the outstanding term loans and fees under a prior loan agreement. The Company repaid principal and interest in an aggregate amount equal to approximately $31.2 million and prepayment fees in an aggregate amount equal to approximately $0.6 million, and terminated all obligations under prior loan agreement. As a result, the Company recorded a loss of $2.1 million on the extinguishment of the prior loan agreement within “Interest expense” on the Company's consolidated statements of operations during the year ended December 31, 2019. The second advance of $15.0 million (“Tranche 2”) is to be available to be drawn by the Company through March 31, 2021, and the third advance of $15.0 million (“Tranche 3”) will be available to the Company starting March 31, 2021, through September 30, 2021, subject to the Company’s satisfaction of certain other conditions described in the Term Loan Credit Agreement. The borrowings under the 2019 Term Loan bears interest at the sum of a fixed percentage spread and the greater of (i) 1.8% or (ii) one month LIBOR. The effective interest rate on the Term Loan, was approximately 7.50%. All three tranches require interest only payments through March 1, 2022, followed by 24 months of payments with interest and equal payment of principal. The interest only payment period can be extended for 12 months

upon achievement of a specified trailing twelve month net revenue target. Prepayments of the 2019 Term Loan under the Term Loan Credit Agreement, in whole or in part, will be subject to early termination fees which decline each year until the fourth anniversary of the applicable funding date, at which time there is no early termination fee. Upon the final payment, the Company must also pay an exit fee calculated based on a percentage of the aggregate principal amount of all tranches advanced to the Company.

The Company also entered into a Credit, Security and Guaranty Agreement (Revolving Loan) (the “Revolving Loan Credit Agreement”) with MidCap on March 29, 2019, to initially borrow up to $5.0 million. The borrowing limit was expanded to $10.0 million in December 2020. The amount borrowed under the Revolving Loan Credit Agreement can be increased, upon request by the Company by up to an additional $10.0 million, subject to agent and lender approval and the satisfaction of certain conditions. The Revolving Loan Credit Agreement has a maturity date of March 1, 2024. Amounts drawn under the Revolving Loan Credit Agreement bear interest at the sum of a fixed percentage spread and the greater of (i) 1.80% or (ii) one month LIBOR. There are also fractional fees based on the amounts either drawn or undrawn. If the Revolving Loan Credit Agreement is terminated before maturity or the funding obligation is permanently reduced, there are termination fees which decline each anniversary until the third anniversary, at which time there is no termination fee. As of December 31, 2020 and December 31, 2019, the Company had borrowed $8.5 million and $5.0 million under the Revolving Loan Credit Agreement, respectively, which is included in “Debt – current” in the Company’s consolidated balance sheets.

The Term Loan Credit Agreement and Revolving Loan Credit Agreement contain certain financial and non-financial covenants, with which the Company was in compliance at December 31, 2020. Additionally, both agreements are secured by substantially all of the Company’s assets, with some exclusions.