XML 39 R18.htm IDEA: XBRL DOCUMENT v3.21.2
CREDIT FACILITY AND NOTES PAYABLE (Tables)
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Schedule of Notes Payable, Line of Credit and Capital Lease Obligations
As of September 30, 2021 and December 31, 2020 our term loan debt obligations are as follows (in thousands):
September 30,
2021		December 31,
2020
First Lien Term Loans collateralized by RadNet's tangible and intangible assets$723,188 $611,028 
Discount on First Lien Term Loans(13,735)(9,699)
SunTrust Term Loan collateralized by NJIN's tangible and intangible assets48,000 51,375 
Total debt obligations757,453 652,704 
Less: current portion(11,165)(39,791)
Long term portion debt obligations$746,288 $612,913 
Schedule of Leverage Ratio Our SunTrust Term Loan bears interest at either an Adjusted LIBOR or a Base Rate (each as defined in the SunTrust Credit Agreement), plus an applicable margin according to the following schedule:
Pricing LevelLeverage RatioApplicable Margin for Eurodollar LoansApplicable Margin for Base Rate LoansApplicable Margin for Letter of Credit FeesApplicable 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
Revolving loans borrowed under the Barclays Revolving Credit Facility bear interest at either a Eurodollar Rate or an Alternate Base Rate (in each case, as defined in the Restated Credit Agreement) plus an applicable margin which adjusts depending on our first lien net leverage ratio, according to the following schedule:
First Lien Net Leverage RatioEurodollar Rate SpreadAlternate Base Rate Spread
> 3.50x
3.25%2.25%
> 3.00x but ≤ 3.50x
3.00%2.00%
≤ 3.00x
2.75%1.75%