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Credit Facility
 3 Months Ended
Jun. 30, 2023
Line of Credit Facility [Abstract]  
Credit Facility

Note 5. Credit Facility

Westlake Credit Facility

The Credit Agreement contains customary events of default and covenants, including but not limited to financial and operating results around tangible net worth, collateral performance indicator, excess spread ratio. Subject to Company’s compliance with certain terms and conditions, the lender waived its rights and remedies under the Agreement applicable to the excess spread ratio covenant and collateral performance indicator through September 30, 2024.

As of June 30, 2023, the Company had aggregate outstanding indebtedness, net of debt issuance costs, under the Credit Facility of $15.3 million, compared to $70.0 million outstanding under the Wells Fargo Credit Facility as of June 30, 2022.

Future maturities of debt as of June 30, 2023 are as follows:

 

(in thousands)

 

 

 

FY2024

 

 

 

$

15,250

 

FY2025

 

 

 

 

—

 

FY2026

 

 

 

 

—

 

 

 

 

$

15,250