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Related Party Transactions
 6 Months Ended
Jun. 30, 2020
Related Party Transactions [Abstract]  
Related Party Transactions
(
10
)
Related Party Transactions
As a condition to entering into the Amendment, George Beasley, the Company’s Chairman, provided a $5 million loan to the Company that accrues
payment-in-kind
interest at 6% per annum with
no
cash payments due until the loan’s maturity in December 2023. Mr. Beasley and GGB Family Limited Partnership also each entered into standby letters of credit in combined aggregate face amount of $5,000,000 in favor of U.S. Bank, National Association for the benefit of the Company as a source of backup liquidity that may be drawn by U.S. Bank, National Association in the event that the Company fails to maintain the Minimum Liquidity Amount.