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CREDIT FACILITY AND NOTES PAYABLE (Tables) | 9 Months Ended
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Sep. 30, 2020
Debt Disclosure [Abstract] |
Schedule of notes payable, line of credit and capital lease obligations | As of September 30, 2020 and December 31, 2019 our debt obligations consisted of the following (in thousands):
| September 30, 2020 |  | December 31, 2019
First Lien Term Loans collateralized by RadNet's tangible and intangible assets | $ | 620,727 |  |  | $ | 649,824 |
Discounts on First Lien Term Loans | (10,669) |  |  | (13,579) |
SunTrust Term Loan Agreement collateralized by NJIN's tangible and intangible assets | 52,500 |  |  | 55,875 |
Paycheck Protection Program loans at 1% due April 2022 | 4,037 |  |  | — |
Equipment note payable at 4.6%, due through 2020, collateralized by medical equipment | 47 |  |  | 275 |
Total debt obligations | 666,642 |  |  | 692,395 |
Less: current portion | (39,463) |  |  | (39,691) |
Long term portion debt obligations | $ | 627,179 |  |  | $ | 652,704 |
Schedule of first lien credit agreement | Included in our condensed consolidated balance sheets at September 30, 2020 are $620.7 million of First Lien Term Loans and $52.5 million of SunTrust Term Loan debt for a combined total of $673.2 million of total term loan debt (exclusive of unamortized discounts of $10.7 million) in thousands:
| Face Value |  | Discount |  | Total Carrying Value
First Lien Term Loans | $ | 620,727 |  |  | $ | (10,669) |  |  | $ | 610,058 |
SunTrust Term Loan | 52,500 |  |  | — |  |  | 52,500 |
Total Term Loans | $ | 673,227 |  |  | $ | (10,669) |  |  | $ | 662,558 |
Schedule of leverage ratio | Our First Lien Term Loans bear interest at either an Adjusted Eurodollar Rate or a Base Rate, plus an applicable margin according to 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%
Our SunTrust Term Loan bears interest at either an Adjusted Eurodollar Rate or a Base Rate, plus an applicable margin according to the following schedule:
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

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