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DEBT AND CREDIT FACILITIES
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
DEBT AND CREDIT FACILITIES DEBT AND CREDIT FACILITIES
Debt Obligations

The following table summarizes the Company’s outstanding debt obligations.
March 31, 2025December 31, 2024
Term loans$59,375 $60,313 
Accrued interest payable877 923 
Less: deferred financing costs(418)(487)
Total debt$59,834 $60,749 

During the three months ended March 31, 2025, the Company partially repaid $0.9 million of the outstanding Term loans.

Credit Facilities

At March 31, 2025, the Company had the following letter of credit (“LC”) facilities:
Capacity
LCs issued
Termination Date
Citibank
$275,000 $203,136 December 19, 2025
CIBC
200,000 116,047 December 31, 2025
HSBC $100,000 $— December 17, 2025
 $575,000 $319,183 
The above LCs issued are cash collateralized (see Note 5). The LC facilities are subject to various customary affirmative, negative and financial covenants. At March 31, 2025, the Company was in compliance with all LC facilities covenants.