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LONG-TERM DEBT (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | Long-term debt consists of the following:
(in thousands) |  | September 30, 2023 |  | December 31, 2022
Senior Secured Term Loans |  | $ | 221,981 |  |  | $ | 247,204 |
Less: Debt issuance and amendment costs, net |  | (3,918) |  |  | (878) |
Less: Unamortized discount, net |  | (6,083) |  |  | (833) |
Net Senior secured term loans |  | 211,980 |  |  | 245,493 |
Total Long-term debt |  | $ | 211,980 |  |  | $ | 245,493 |
Schedule of Debt | The PIK component of the interest rate is subject to adjustment based on the amount of Aggregate Paydowns as set forth in the table below. The PIK component of the interest rate was 3.75% for the three months ended September 30, 2023 and 4.50% for the three months ended June 30, 2023. The interest rate as of September 30, 2023 was 14.09%.
Aggregate Paydowns | PIK Component of Interest Rate
Less than $20 million | 5.00%
$20 million+ but less than below | 4.50%
$30 million+ but less than below | 3.75%
$40 million+ but less than below | 3.50%
$45 million+ but less than below | 3.00%
$50 million+ but less than below | 2.50%
$55 million+ but less than below | 2.00%
$60 million+ but less than below | 1.00%
$65 million+ but less than below | 0.50%
$70 million+ | 0.00%

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