LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2021

LONG-TERM DEBT

Components of the Company's outstanding debt obligations

The components of the Company’s outstanding debt obligations consisted of the following (in thousands):

	December 31,
	2021		2020
Term loan	$	284,009	$	228,147
Less: Unamortized discount and debt issuance costs		(3,601)		(6,651)
Total debt		280,408		221,496
Less: Current portion of long-term debt		(17,220)		(13,042)
Total long-term debt	$	263,188	$	208,454

Schedule of mandatory prepayments based on Company's excess cash flow for the year

Under the Amended Term Loan, the Company is required to make mandatory prepayments based on the Company’s excess cash flow for the year, as follows (as a percentage of the Company’s excess cash flow for the year):

	Mandatory
	Prepayment
Net Leverage Ratio	Percentage
> 3.50:1.00	90	%
> 3.00:1.00 and ≤ 3.50:1.00	75	%
> 2.50:1.00 and ≤ 3.00:1.00	50	%
> 2.00:1.00 and ≤ 2.50:1.00	25	%
≤ 2.00:1.00	0	%

Principal payments due on the outstanding debt

Principal payments due on the outstanding debt in the next five fiscal years, excluding any potential payments based on excess cash flow levels, are as follows (in thousands):

	Term Loan
Year Ended	Facility
2022	$	17,220
2023		17,220
2024		17,220
2025		232,349
	$	284,009