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Subsequent Event
6 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Event SUBSEQUENT EVENT
On February 22, 2021, the Company entered into Amendment No. 3 to the Amended Facility discussed in Note 7, which modified the Amended Facility as follows:
Extends the Modification Period established pursuant to Amendment No. 2 for an additional year, through June 30, 2022, and revises certain negative covenants in connection therewith.
Restricts the Company from borrowing under the revolving credit facility if unrestricted cash and cash equivalents exceed $150.0 million, unless such borrowings are in connection with acquisitions.
Reduces the revolving commitments to $300.0 million, with a further reduction to $250.0 million by September 30, 2021. Provides for further reductions to the revolving commitments, or mandatory prepayments of outstanding revolving loans, in the event of certain asset sales.
Waives compliance with the leverage ratio and the interest coverage ratio covenants through the quarter ended March 31, 2022 and also lowers the minimum liquidity covenant applicable through such quarter.
Removes the minimum EBITDA covenant added pursuant to Amendment No. 2.
Permits the Company to change its fiscal year end to December 31.
◦Permits the Company to keep the net cash proceeds of material asset sales received above certain dollar thresholds without corresponding mandatory prepayments or commitment reductions.