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v3.21.1

Subsequent Events (Tables) | 3 Months Ended
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Mar. 31, 2021
Subsequent Events [Abstract] |
Summary of Term Loan Amortization | The 2021 Credit Facility term loan must be repaid in quarterly installments and shall amortize at the following annualized rates beginning with the quarter ended December 31, 2021 with the remaining balance due and payable in full upon the five-year anniversary from the closing date:
| Amortization Table
| Year 1 |  |  | Year 2 |  |  | Year 3 |  |  | Year 4 |  |  | Year 5 |  |
Term Loan |  | 5.0 |  | % |  | 5.0 |  | % |  | 7.5 |  | % |  | 7.5 |  | % |  | 10.0 |  | %
Summary of 2021 Credit Facility Interest Rate Subject to Leverage Ratio and LIBOR | The 2021 Credit Facility term loan and the revolver bear interest subject to the Company’s leverage ratio and LIBOR as follows:
Pricing Tier |  | Net Leverage Ratio |  | Senior Credit Facilities |  |  | Commitment Fee |  | Letter of Credit Fee |  |
|  |  |  | LIBOR |  |  | Base Rate |  |  |  |  |  |  |  |
1 |  | ≥ 3.75x to 1.0 |  |  | 2.50 |  | % |  | 1.50 |  | % | 0.25 | % |  | 2.50 |  | %
2 |  | <3.75x to 1.0 but ≥ 3.25 to 1.0 |  |  | 2.25 |  |  |  | 1.25 |  |  | 0.23 |  |  | 2.25 |  |
3 |  | <3.25 to 1.0 but ≥ 2.50 to 1.0 |  |  | 2.00 |  |  |  | 1.00 |  |  | 0.20 |  |  | 2.00 |  |
4 |  | <2.50 to 1.0 but ≥ 1.75 to 1.0 |  |  | 1.75 |  |  |  | 0.75 |  |  | 0.15 |  |  | 1.75 |  |
5 |  | <1.75 to 1.0 |  |  | 1.50 |  |  |  | 0.50 |  |  | 0.15 |  |  | 1.50 |  |

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- Definition Summary of credit facility interest rate subject to leverage ratio and LIBOR. + References No definition available. + Details
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- Definition Summary of term loan amortization. + References No definition available. + Details
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- References No definition available. + Details
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