Restricted cash consists of cash with legal restrictions on its use. We have presented restricted cash separately from cash and cash equivalents as follows:


	March 31,		December 31,
(in thousands)	2023		2022
Restricted cash, current:
Senior Secured Term Loan collateral reserve	$	12,000	$	-
Subordinated Term Loan repayment escrow		5,613		-
Total restricted cash, current	$	17,613	$	-
Restricted cash, noncurrent
Senior Secured Term Loan interest reserve	$	12,513	$	-
New Market Tax Credit deposits		1,558		1,609
Total restricted cash, noncurrent	$	14,071	$	1,609
Cash and cash equivalents	$	101,991	$	62,792
Total cash and cash equivalents and restricted cash	$	133,675	$	64,401

Senior Secured Term Loan collateral reserve represents the balance held in a restricted account until certain lender releases were obtained, as required by our Senior Secured Term Loan (see Note 11). We obtained these releases on April 28, 2023 and moved this cash to our unrestricted bank accounts as of that date.

Subordinated Term Loan repayment escrow represents the balance held in escrow for the repayment of the remaining balance of our Subordinated Term Loan (see Note 11). On April 17, 2023, this escrow balance was applied against the Subordinated Term Loan outstanding balance and the debt was extinguished.

Senior Secured Term Loan interest reserve represents the balance held in a restricted account for the payment of interest as it becomes due under the Senior Secured Term Loan.

New Market Tax Credit deposits represent deposits required under our New Markets Tax Credit (See Note 11) arrangements for future interest and expense payments.