Debt

6 Months Ended

Mar. 26, 2023

Debt Disclosure [Abstract]

Debt

DEBTThe Company has debt consisting of a single 25-year term loan with BH Finance LLC, with an aggregate principal balance of $460.0 million at a 9% annual fixed rate and maturing on March 16, 2045

(referred to herein as “Credit Agreement” and “Term Loan”). On March 26, 2023, the fair value is $462.4 million. This represents a level 2 fair value measurement.

During the six months ended March 26, 2023, we made principal debt payments of $2.6 million. Future payments are contingent on the Company's ability to generate future excess cash flow, as defined in the Credit Agreement. As of March 26, 2023, there was no excess cash flow payment due.