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Subsequent Events
3 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
 
Real Estate-Backed Revolving Credit Facility
On April 12, 2021, we entered into a credit agreement (Credit Agreement) with Ally Bank (Ally Capital in Hawaii, Mississippi, Montana and New Jersey), as lender. The Credit Agreement matures in April 2023.

The Credit Agreement provides for a revolving line of credit facility of up to $300.0 million (Real Estate-Backed Credit Facility) and is secured by real estate owned by us.

The Real Estate-Backed Credit Facility will bear interest at a rate per annum equal to (1) the greater of (i) 3.00% or (ii) the prime rate designated by Ally Bank, minus (2) 25 basis points.

The Real Estate-Backed Credit Facility includes financial and restrictive covenants typical of such agreements, lending conditions, and representations and warranties. Financial covenants, including the requirements to maintain minimum current and fixed charge coverage ratios, and a maximum leverage ratio, are the same as the requirements under our existing syndicated credit facility with U.S. Bank National Association. The covenants restrict us from disposing of assets and granting additional security interests.