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v3.20.1

Debt (Tables) | 3 Months Ended
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Mar. 31, 2020
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 |  | March 31, |  | December 31,
(dollar amounts in thousands) |  | Inception Date |  | Rate (per annum) |  | Frequency |  | (years) |  | 2020 |  | 2019
Credit Agreement |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revolving loans |  | 9/13/2019 |  | Variable |  | Variable |  | 5 |  | $ | 101,557 |  | $ | 103,820
Equipment Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equipment Note 1 |  | 9/28/2018 |  | 4.16% |  | Semi-annual |  | 5 |  |  | 9,697 |  |  | 10,643
Equipment Note 2 |  | 9/28/2018 |  | 4.23% |  | Semi-annual |  | 7 |  |  | 10,643 |  |  | 11,200
Equipment Note 3 |  | 12/31/2018 |  | 3.97% |  | Semi-annual |  | 5 |  |  | 1,953 |  |  | 1,953
Equipment Note 4 |  | 12/31/2018 |  | 4.02% |  | Semi-annual |  | 7 |  |  | 2,108 |  |  | 2,108
Equipment Note 5 |  | 12/31/2018 |  | 4.01% |  | Semi-annual |  | 7 |  |  | 1,751 |  |  | 1,751
Equipment Note 6 |  | 6/25/2019 |  | 2.89% |  | Semi-annual |  | 7 |  |  | 14,286 |  |  | 14,286
Equipment Note 7 |  | 6/24/2019 |  | 3.09% |  | Semi-annual |  | 5 |  |  | 8,359 |  |  | 9,033
Equipment Note 8 |  | 12/27/2019 |  | 2.75% |  | Semi-annual |  | 5 |  |  | 6,496 |  |  | 6,496
Equipment Note 9 |  | 12/24/2019 |  | 3.01% |  | Semi-annual |  | 7 |  |  | 4,534 |  |  | 4,534
|  |  |  |  |  |  |  |  |  |  | 59,827 |  |  | 62,004
Total debt |  |  |  |  |  |  |  |  |  |  | 161,384 |  |  | 165,824
Less: current portion of long-term debt |  |  |  |  |  |  |  |  |  |  | (8,127) |  |  | (8,737)
Long-term debt |  |  |  |  |  |  |  |  |  | $ | 153,257 |  | $ | 157,087
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 March 31, 2020:
|  | Future
|  | Equipment Notes
(in thousands) |  | Principal Payments
Remainder of 2020 |  | $ | 6,560
2021 |  |  | 8,349
2022 |  |  | 8,645
2023 |  |  | 11,906
2024 |  |  | 8,923
2025 |  |  | 8,853
Thereafter |  |  | 6,591
Total future principal payments |  | $ | 59,827
Less: current portion of equipment notes |  |  | (8,127)
Long-term principal obligations |  | $ | 51,700

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