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CREDIT FACILITY, NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS (Tables)
 6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Schedule of notes payable, line of credit and capital lease obligations
As of June 30, 2019 and December 31, 2018 our debt obligations consist of the following (in thousands):
 
 
June 30,
2019
 
December 31,
2018
First Lien Term Loans collateralized by RadNet's tangible and intangible assets
$
669,222

 
$
587,191

 
 
 
 
Discounts on First Lien Term Loans
(15,519
)
 
(15,112
)
 
 
 
 
Term Loan Agreement collateralized by NJIN's tangible and intangible assets
57,750

 
59,250

 
 
 
 
Revolving Credit Facilities
—

 
28,000

 
 
 
 
Promissory note payable to the former owner of a practice acquired at an interest rate of 1.5% due through 2019
—

 
199

 
 
 
 
Equipment notes payable at interest rates ranging from 3.3% to 5.6%, due through 2020, collateralized by medical equipment
445

 
632

 
 
 
 
Obligations under capital leases at interest rates ranging from 4.3% to 11.2%, due through 2022, collateralized by medical and office equipment (1)
—

 
12,119

Total debt obligations
711,898

 
672,279

Less: current portion
(39,364
)
 
(39,267
)
Long term portion debt obligations
$
672,534

 
$
633,012
Schedule of first lien credit agreement
Included in our condensed consolidated balance sheets at June 30, 2019 are $669.2 million of First Lien Term Loans and $57.8 million of SunTrust Term Loan debt for a combined total of $727.0 million of total term loan debt (net of unamortized discounts of $15.5 million) in thousands:
 
Face Value
 
Discount
 
Total Carrying
Value
First Lien Term Loans
669,222

 
(15,519
)
 
653,703

SunTrust Term Loan
57,750

 
—

 
57,750

Total Term Loans
726,972

 
(15,519
)
 
711,453
Schedule of leverage ratio
Pursuant to the Fifth Amendment, the applicable margin was amended to vary based on our leverage ratio in accordance with the following schedule:
First Lien Leverage Ratio
Eurodollar Rate Spread
Base Rate Spread
> 5.50x
4.50%
3.50%
> 4.00x but ≤ 5.50x
3.75%
2.75%
>3.50x but ≤ 4.00x
3.50%
2.50%
≤ 3.50x
3.25%
2.25%
Thereafter, the rates of the applicable margin for borrowing under the SunTrust Restated Credit Agreement will adjust depending on our leverage ratio, according to the following table:

Pricing Level
Leverage Ratio
Applicable Margin for Eurodollar Loans
Applicable Margin for Base Rate Loans
Applicable Margin for Letter of Credit Fees
Applicable Percentage for Commitment Fee
I
Greater than or equal to 3.00:1.00
2.75%
per annum
1.75%
per annum
2.75%
per annum
0.45%
per annum
II
Less than 3.00:1.00 but greater than or equal to 2.50:1.00
2.25%
per annum
1.25%
per annum
2.25%
per annum
0.40%
per annum
III
Less than 2.50:1.00 but greater than or equal to
2.00:1.00
2.00%
per annum
1.00%
per annum
2.00%
per annum
0.35%
per annum
IV
Less than 2.00:1.00 but greater than or equal to 1.50:1.00
1.75%
per annum
0.75%
per annum
1.75%
per annum
0.30%
per annum
V
Less than 1.50:1.00
1.50%
per annum
0.50%
per annum
1.50%
per annum
0.30%
per annum
Thereafter, the rates of the applicable margin for borrowing under the SunTrust Original Credit Agreement adjusted depending on our leverage ratio, according to the following table:

Pricing Level
Leverage Ratio
Applicable Margin for Eurodollar Loans
Applicable Margin for Base Rate Loans
Applicable Margin for Letter of Credit Fees
Applicable Percentage for Commitment Fee
I
Greater than or equal to 3.00:1.00
3.00%
per annum
2.00%
per annum
3.00%
per annum
0.45%
per annum
II
Less than 3.00:1.00 but greater than or equal to 2.50:1.00
2.50%
per annum
1.50%
per annum
2.50%
per annum
0.40%
per annum
III
Less than 2.50:1.00 but greater than or equal to
2.00:1.00
2.25%
per annum
1.25%
per annum
2.25%
per annum
0.35%
per annum
IV
Less than 2.00:1.00 but greater than or equal to 1.50:1.00
2.00%
per annum
1.00%
per annum
2.00%
per annum
0.30%
per annum
V
Less than 1.50:1.00
1.75%
per annum
0.75%
per annum
1.75%
per annum
0.30%
per annum