Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.20.2
Debt (Tables)
6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consists of the following obligations as of:
(in thousands)
June 30, 2020
 
December 31, 2019
2019 Refinancing Term Loan - term loan payable in quarterly installments of principal, (commencing in September 2020) plus interest through April 2022
$
41,000

 
$
41,000

Finance leases – collateralized by vehicles, payable in monthly installments of principal, plus interest ranging from 4.85% to 6.45% through 2025
6,285

 
6,585

Total debt
47,285

 
47,585

Less - Current portion of long-term debt
(6,414
)
 
(4,425
)
Less - Unamortized discount and debt issuance costs
(3,350
)
 
(4,292
)
Long-term debt
$
37,521

 
$
38,868

Summary of Additional Margin and Commitment Fees Payable
The following is a summary of the additional margin and commitment fees payable on the available revolving credit commitment:
Level
 
Senior Leverage Ratio
 
Additional Margin for
Base Rate loans
 
Additional Margin for
Libor Rate loans
 
Commitment Fee
I
 
Greater than or equal to 2.50 to 1.00
 
3.00
%
 
4.00
%
 
0.50
%
II
 
Less than 2.50 to 1.00, but greater than or equal to 2.00 to 1.00
 
2.75
%
 
3.75
%
 
0.50
%
III
 
Less than 2.00 to 1.00, but greater than or equal to 1.50 to 1.00
 
2.50
%
 
3.50
%
 
0.50
%
IV
 
Less than 1.50 to 1.00
 
2.25
%
 
3.25
%
 
0.50
%