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INTEREST RATE SWAPS (Tables)

12 Months Ended

Dec. 31, 2023

INTEREST RATE SWAPS

Schedule of interest rate swap agreements


Hedged Item ⁽¹⁾		Effective Date		Maturity Date		Rate		Amount			Fair Value as of December 31, 2023
2026 Term Loan		3/10/2021		3/29/2024		0.12% + 0.10% + applicable spread		$	50,000		$	650
2026 Term Loan		3/29/2024		3/10/2026		1.44% + 0.10% + applicable spread		$	50,000		$	2,153
2026 Term Loan		8/31/2021		3/10/2026		0.70% + 0.10% + applicable spread		$	15,000		$	1,025
2026 Term Loan⁽²⁾		3/10/2026		3/10/2031		3.80% + 0.10% + applicable spread		$	40,000		$	(1,015)
2027 Term Loan		11/5/2021		3/29/2024		0.64% + 0.10% + applicable spread		$	100,000		$	1,172
2027 Term Loan		3/29/2024		1/31/2027		1.35% + 0.10% + applicable spread		$	100,000		$	5,840
2027 Term Loan⁽²⁾		1/31/2027		1/30/2032		3.75% + 0.10% + applicable spread		$	60,000		$	(1,253)
2028 Term Loan		9/30/2022		1/31/2028		3.78% + 0.10% + applicable spread		$	50,000		$	(433)
2028 Term Loan		9/30/2022		1/31/2028		3.78% + 0.10% + applicable spread		$	50,000		$	(442)
2028 Term Loan ⁽²⁾		1/31/2028		1/31/2033		3.81% + 0.10% + applicable spread		$	60,000		$	(1,119)
Credit Facility		1/31/2023		1/31/2030		3.27% + 0.10% + applicable spread		$	50,000		$	493
Credit Facility		1/31/2023		1/31/2030		3.26% + 0.10% + applicable spread		$	33,000		$	345
Credit Facility		1/31/2023		1/31/2030		3.36% + 0.10% + applicable spread		$	17,000		$	92
Credit Facility⁽²⁾		2/1/2024		1/31/2028		3.85% + 0.10% + applicable spread		$	50,000		$	(617)

⁽¹⁾	Effective September 30, 2022 the Company converted its existing interest rate swaps from 1-month LIBOR to SOFR.

⁽²⁾	During the year ended December 31, 2023, the Company entered into forward starting interest rate swaps to further fix interest rates through periods that the Company reasonably expects to extend its current term loans and Credit Facility.