v3.19.3

Commitments and contingencies | 9 Months Ended
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Sep. 30, 2019
Commitments and contingencies |
Commitments and contingencies | 14. Commitments and contingencies ​ Letters of credit ​ We have entered into Letter of Credit Authorization agreements (collectively, “Letters of Credit”), which are issued under our Credit Agreement. The Letters of Credit are irrevocable and serve as performance guarantees that will allow our customers to draw upon the available funds if we are in default. As of September 30, 2019, we have Letters of Credit totaling $12,976 that are scheduled to expire or renew over the next fourteen months. There have been no drafts drawn under these Letters of Credit as of September 30, 2019. ​ Legal proceedings ​ From time to time, we may be subject to claims, suits, investigations and proceedings arising out of the normal course of business. We are not currently a party to any litigation that we believe could have a material adverse effect on our business, financial position, results of operations or cash flows. Legal costs are expensed as incurred. ​ Other matters ​ We have received a claim from one of our venue partners with respect to contractual terms on our revenue share payments. The claim asserts that we have underpaid revenue share payments and related interest by approximately $4,600. We are currently in settlement discussions with our venue partner. As of September 30, 2019, we have accrued for the probable and estimable losses that have been incurred, which have been recorded as general and administrative expenses in the condensed consolidated statements of operations. We are not currently a party to any other claims that we believe could have a material adverse effect on our business, financial position, results of operations or cash flows. ​

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