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Debt (Tables)

3 Months Ended

Mar. 31, 2021

Our syndicated Credit Agreement includes a $75 million, five-year undrawn revolving credit facility, as well as the following term loans:


(in thousands)	March 31, 2021		December 31, 2020
Term loan A-1	$	222,154	$	229,437
Term loan A-2	467,234		468,481
	689,388		697,918
Less: unamortized loan fees	8,857		9,455
Total debt, net of unamortized loan fees	$	680,531	$	688,463

Financial Covenants in Credit Agreements

As shown below, as of March 31, 2021, the Company was in compliance with the financial covenants in its credit agreements.


	Actual		Covenant Requirement
Total leverage ratio	1.8		3.25 or Lower
Debt service coverage ratio	7.4		2.0 or Higher
Minimum liquidity balance (in millions)	$	304.2	$25.0 or Higher

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details