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Debt (Tables) | 9 Months Ended
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Sep. 30, 2019
Debt |
Schedule of total debt | The table below reflects the Company’s total debt, including borrowings under its credit agreement and master loan agreements for equipment notes:
|  |  |  |  |  |  |  |  |  | Outstanding |  | Outstanding
|  |  |  |  |  |  |  |  |  | Balance as of |  | Balance as of
|  |  |  | Stated Interest |  | Payment |  | Term |  | September 30, |  | December 31,
(dollar amounts in thousands) |  | Inception Date |  | Rate (per annum) |  | Frequency |  | (years) |  | 2019 |  | 2018
Credit Agreement |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revolving loans |  | 9/13/2019 |  | Variable |  | Variable |  | 5 |  | $ | 125,973 |  | $ | 58,306
Equipment Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equipment Note 1 |  | 9/28/2018 |  | 4.16% |  | Semi-annual |  | 5 |  |  | 10,793 |  |  | 12,655
Equipment Note 2 |  | 9/28/2018 |  | 4.23% |  | Semi-annual |  | 7 |  |  | 11,200 |  |  | 12,279
Equipment Note 3 |  | 12/31/2018 |  | 3.97% |  | Semi-annual |  | 5 |  |  | 2,124 |  |  | 2,291
Equipment Note 4 |  | 12/31/2018 |  | 4.02% |  | Semi-annual |  | 7 |  |  | 2,211 |  |  | 2,313
Equipment Note 5 |  | 12/31/2018 |  | 4.01% |  | Semi-annual |  | 7 |  |  | 1,851 |  |  | 1,948
Equipment Note 6 |  | 6/25/2019 |  | 2.89% |  | Semi-annual |  | 7 |  |  | 15,005 |  |  | —
Equipment Note 7 |  | 6/24/2019 |  | 3.09% |  | Semi-annual |  | 5 |  |  | 9,033 |  |  | —
|  |  |  |  |  |  |  |  |  |  | 52,217 |  |  | 31,486
Total debt |  |  |  |  |  |  |  |  |  |  | 178,190 |  |  | 89,792
Less: current portion of long-term debt |  |  |  |  |  |  |  |  |  |  | (6,552) |  |  | (3,681)
Long-term debt |  |  |  |  |  |  |  |  |  | $ | 171,638 |  | $ | 86,111
Schedule of remaining principal payments for long term obligations | The following table sets forth our remaining principal payments for the Company’s outstanding Equipment Notes as of September 30, 2019:
|  | Future
|  | Equipment Notes
(in thousands) |  | Principal Payments
Remainder of 2019 |  | $ | 1,729
2020 |  |  | 6,608
2021 |  |  | 6,852
2022 |  |  | 7,107
2023 |  |  | 10,360
2024 |  |  | 5,964
Thereafter |  |  | 13,597
Total future principal payments |  | $ | 52,217
Less: current portion of equipment notes |  |  | (6,552)
Long-term principal obligations |  | $ | 45,665

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