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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2021
SUBSEQUENT EVENTS.  
SUBSEQUENT EVENTS

NOTE 10. SUBSEQUENT EVENT

The Company entered into an amendment to the Fourth Amended Credit Facility with an effective date of April 30, 2021.  Based on the amendment the Company is required to maintain a Total Leverage Ratio of no more than 4.00:1.00. The amendment removes the requirement for 0.50% LIBOR floor.

As of the effective date of this amendment, the interest rate is LIBOR plus a margin ranging from 1.00% to 2.00%, or a base rate (as defined in the Fourth Amended Credit Facility) plus a margin ranging from 0.00% to 1.00%, or the Prime Rate. The applicable margins vary depending on the Company’s leverage ratio. Commitment fees are equal to the daily average unused revolving commitment multiplied by the commitment fee percentage, ranging from 0.175% to 0.325%, based on our leverage ratio.