v3.22.2.2
Subsequent Events
9 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
The Company performed an evaluation of subsequent events through the date the financial statements were issued and determined there were no recognized or unrecognized subsequent events that would require an adjustment or additional disclosure in the condensed consolidated financial statements as of September 30, 2022 except as disclosed below.

Unsecured Revolving Loan

On October 31, 2022, the Company entered into a 364-day credit agreement and related revolving loan (“2022 Revolving Loan”) with JPMorgan Chase Bank, N.A. replacing a similar agreement which expired on October 31, 2022 (“2021 Revolving Loan”). The 2022 Revolving Loan makes available to the Company an unsecured revolving credit facility with an aggregate commitment not to exceed $37.5 million (previously $35.0 million) and carries an interest rate of prime rate plus a margin of 2%. the Company must pay an annual fee of 0.50% of the unused portion of the commitment. Borrowings under the 2022 Revolving Loan mature on October 30, 2023, 364 days after the inception date of the 2022 Revolving Loan. The 2022 Revolving Loan is subject to annual renewals and contains customary financial and other covenants, with which the Company remains in compliance. The Company did not borrow under the 2021 Revolving Loan, and as of November 2, 2022, the Company has not borrowed any amount under the new 2022 Revolving Loan. See ”—Note 7 ( Long-Term Debt).”