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SUBSEQUENT EVENT | 9 Months Ended
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Sep. 30, 2022
Subsequent Events [Abstract] |
SUBSEQUENT EVENT | SUBSEQUENT EVENT On October 28, 2022, the Company entered into a fourth amendment (“Amendment No.4”) to its existing credit agreement, dated December 19, 2019 by and among the Company and Harmonic International GmbH as co-borrowers, certain subsidiaries of the Company from time to time party thereto, as guarantors, and JPMorgan Chase Bank, N.A., as lender (as amended, the “Credit Agreement”) to, among other things (i) extend the maturity date of the Credit Agreement to the earlier of (a) October 28, 2025 or (b) subject to certain exceptions, the date that is 90 days prior to the maturity date of the 2024 Notes (to the extent such notes remain outstanding as of such date), (ii) amend the interest rate provisions to replace LIBOR with SOFR as the interest rate benchmark and (iii) make certain other revisions as more fully set forth therein. As amended, the revolving loans bear interest, at the Company’s election, at a floating rate per annum equal to either (1) 2.00% plus the greater of (i) 2.50% and (ii) the prime rate as reported in the Wall Streat Journal from time to time, or (2) 3.00% plus adjusted term SOFR for an interest period of one, three or six months. The Credit Agreement provides for a secured revolving credit facility in an aggregate principal amount of up to $25 million. No amounts were drawn as of the date of this Quarterly Report on Form 10-Q.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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