Other Assets and Other Liabilities |
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| Other Liabilities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Assets and Other Liabilities | 8. Other Assets and Other Liabilities The following table details the components of the Company's other assets at the dates indicated:
The following table details the components of the Company's other liabilities at the dates indicated:
Unsecured Line of Credit
On October 1, 2025, the Company entered into a Credit Agreement (the “Credit Agreement”) with Bank of America, N.A (“BofA”). The Credit Agreement provides for a credit facility initially comprised of (i) a $150,000 revolving credit facility (the “Revolving Credit Facility”) and (ii) $10,000 of standby letters of credit with a maturity of October 1, 2027. The Credit Agreement also provides for a feature that allows the Company, under certain circumstances, to increase the overall size of the Revolving Credit Facility to a maximum of $500,000. The obligations of the Company under the Credit Agreement are secured by (i) a pledge of the equity interests of certain of the Company’s subsidiaries, (ii) a pledge of certain intercompany promissory notes issued to one or more of the Loan Parties that is a pledgor and (iii) all proceeds of the foregoing, in each case subject to certain exclusions set forth in the Credit Agreement and related loan documents. At the option of the Company, the amounts outstanding under the Credit Agreement will bear interest at either (i) a rate equal to term SOFR or daily simple SOFR plus a margin rate ranging from 1.40% to 2.25% or (ii) a base rate based on the highest of (A) Federal Funds Rate plus half of 1%, (B) BofA’s prime rate, (C) Term SOFR plus 1.00% and (D) 1.00%. The Revolving Credit Facility is subject to a per annum fee based on the daily unused portion of the facility ranging from 0.15% to 0.25% and is payable quarterly in arrears. The Revolving Credit Facility is prepayable, in whole or in part, at any time without premium or penalty. As of December 31, 2025, the Company had no outstanding balance on the Revolving Credit Facility. As of December 31, 2025, the Company was in compliance with all covenants related to the Revolving Credit Facility. |
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