

(In thousands)	December 31 2020		December 31 2019
Senior Secured Credit Facilities (a):
Original Term Loan with an interest rate of 3.25% and 4.1% at December 31, 2020 and 2019, respectively	$	218,188	$	218,188
New Term Loan with an interest rate of 3.5% at December 31, 2020	280,000		—
Revolving Credit Facility with an average interest rate of 2.8% and 5.0% at December 31, 2020 and 2019, respectively	281,000		67,000
5.75% notes due July 31, 2027	500,000		500,000
Other financing payable (including capital leases) in varying amounts due principally through 2021 with a weighted-average interest rate of 5.0% and 3.9% at December 31, 2020 and 2019, respectively	21,344		9,827
Total debt obligations	1,300,532		795,015
Less: deferred financing costs	(15,767)		(16,851)
Total debt obligations, net of deferred financing costs	1,284,765		778,164
Less: current maturities of long-term debt	(13,576)		(2,666)
Long-term debt	$	1,271,189	$	775,498

(a) The current portion of long-term debt related to the Senior Secured Credit Facilities was $10.5 million with the remainder reflected as Long-term debt at December 31, 2020. All amounts related to the Senior Secured Credit Facilities were reflected as Long-term debt at December 31, 2019.

In June 2018, the Company amended its Credit Agreement to, among other things, reduce the interest rate applicable to the Original Term Loan and to increase the limit of the Revolving Credit Facility. A charge of $1.1 million was recorded during 2018, in the caption Unused debt commitment and amendment fees on the Consolidated Statements of Operations, consisting principally of fees associated with the transaction and the write-off of unamortized deferred financing costs.

In June 2019, the Company amended the Credit Agreement to, among other things, increase the borrowing capacity of the Revolving Credit Facility by $200 million to a total of $700 million and extend the maturity date of the Revolving Credit Facility until June 2024. Total expenses of $1.0 million were recognized in 2019 related to the amended Credit Agreement in the caption Unused debt commitment and amendment fees on the Consolidated Statements of Operations. The Company capitalized $2.6 million of fees related to this amendment of the Revolving Credit Facility.

In March 2020 the Company raised $280 million pursuant to the New Term Loan as a new tranche under the existing Senior Secured Credit Facilities. The New Term Loan was fully drawn on April 6, 2020 to partially fund the acquisition of ESOL. See Note 3, Acquisition and Dispositions, for additional information related to the ESOL acquisition. The Company capitalized $1.9 million of fees related to the issuance of the New Term Loan.

In both March 2020 and June 2020, the Company amended the Senior Secured Credit Facilities to increase the net debt to consolidated adjusted EBITDA ratio covenant as defined in the Credit Agreement. As a result of these amendments, the net debt to consolidated adjusted EBITDA ratio covenant has been increased to 5.75 through March 2021 and then decreases

quarterly until reaching 4.75 in December 2021 and 4.00 in March 2022. There is no change to the previously agreed interest rates as long as the Company's total leverage ratio, as defined in the Credit Agreement, does not equal or exceed 4.50, at which time it would increase by 25 basis points for the New Term Loan and the Revolving Credit Facility. At December 31, 2020, the Company was in compliance with these and all other covenants. During 2020, the Company recognized $1.9 million of fees and expenses related to the amended Senior Secured Credit Facilities in the caption Unused debt commitment and amendment fees on the Consolidated Statements of Operations.

The Credit Agreement imposes certain restrictions including, but not limited to, restrictions as to types and amounts of debt of liens that may be incurred by the Company; limitations on increases in dividend payments; limitations on repurchases of the Company's stock and limitations on certain acquisitions by the Company.

With respect to the Senior Secured Credit Facilities, the obligations of the Company are guaranteed by substantially all of the Company’s current and future wholly-owned domestic subsidiaries (“Guarantors”). All obligations under the Senior Credit Facility, and the guarantees of those obligations, are secured, subject to certain exceptions, by substantially all of the Company’s assets and the assets of the Guarantors.

Borrowings under the Original Term Loan bear interest at a rate per annum of 225 basis points over the adjusted LIBOR rate, subject to a 1% floor, as defined in the Credit Agreement. The Original Term Loan matures on December 8, 2024.

Borrowings under the New Term Loan bear interest at a rate per annum ranging from 150 to 250 basis points over adjusted LIBOR (as defined in the Credit Agreement), subject to a 1% floor. The New Term Loan matures on June 28, 2024.

The Credit Agreement requires certain mandatory prepayments of the Original Term Loan and the New Term Loan, subject to certain exceptions, based on net cash proceeds of certain sales or distributions of assets, as well as certain casualty and condemnation events, in some cases subject to reinvestment rights and certain other exceptions; net cash proceeds of any issuance of debt, excluded permitted debt issuances; and a percentage of excess cash flow, as defined by the Credit Agreement, during a fiscal year.

In July 2019, the Company made a prepayment of $320.9 million on the Original Term Loan, using proceeds from the sale of AXC. The remainder of the proceeds from the sale were used to pay down the Revolving Credit Facility. As a result of this prepayment, the Company expensed $5.3 million of previously recorded deferred financing costs on the Consolidated Statement of Operations as discontinued operations in 2019. The prepayment satisfied all future quarterly principal payment requirements under the Original Term Loan; the remaining principal is due at maturity.

Borrowings under the Revolving Credit Facility, a U.S.-based program, bear interest at a rate per annum ranging from 50 to 150 basis points over the base rate or 150 to 250 basis points over adjusted LIBOR as defined in the Credit Agreement, subject to a 0% floor. Any principal amount outstanding under the Revolving Credit Facility is due and payable on its maturity on June 28, 2024.

During June 2019, the Company completed a private placement of $500.0 million principal amount of Notes. The Notes bear interest at a fixed rate of 5.75%, which is payable on January 31 and July 31 of each year, beginning on January 31, 2020. The Notes are fully and unconditionally guaranteed, jointly and severally, by all of the wholly owned domestic subsidiaries of the Company that guarantee the Senior Secured Credit Facilities. The indenture governing the Notes contains provisions that (i) allow the Company to redeem some or all of the Notes prior to maturity; (ii) require the Company to offer to repurchase all of the Notes upon a change in control; and (iii) require adherence to certain covenants which are generally less restrictive than those included in the Company's Credit Agreement. The Notes were used, together with borrowings under the Company's

Revolving Credit Facility, to fund the acquisition of Clean Earth in 2019. See Note 3, Acquisitions and Dispositions, for additional information. The Company capitalized $9.0 million of fees related to the issuance of the Notes.

In 2019, the Company recognized $6.7 million of expenses for fees and other costs related to bridge financing commitments that the Company arranged in the event that the Notes were not issued prior to the acquisition of Clean Earth. Because the Notes were issued prior to completion of the Clean Earth acquisition, the bridge financing commitments were not utilized.