| Schedule of Line of Credit Facilities |
The following table summarizes the cumulative activity relating to deferred financing costs and discounts under the Credit Facility:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Deferred Financing Costs | | Discount | | | | | | Term Loan | | Revolver | | Total | | Term Loan | | Total | | | | | | | | | | | | | | | | Credit facility and amendment fees | $ | 6,626,000 | | | 4,328,000 | | | $ | 10,954,000 | | | $ | 16,812,000 | | | $ | 27,766,000 | | | | | Term loan proceeds allocated to Lender warrants | — | | | — | | | — | | | 3,011,000 | | | 3,011,000 | | | | | Term loan proceeds allocated to embedded derivative | — | | | — | | | — | | | 3,116,000 | | | 3,116,000 | | | | | Write-off due to prepayments and reduced commitments | (1,788,000) | | | (1,707,000) | | | (3,495,000) | | | (5,482,000) | | | (8,977,000) | | | | | Amortization | (1,315,000) | | | (714,000) | | | (2,029,000) | | | (3,653,000) | | | (5,682,000) | | | | Balance at July 31, 2025 | $ | 3,523,000 | | | 1,907,000 | | | $ | 5,430,000 | | | $ | 13,804,000 | | | $ | 19,234,000 | | | | | Amortization | (738,000) | | | (477,000) | | | (1,215,000) | | | (2,893,000) | | | (4,108,000) | | | | Balance at April 30, 2026 | $ | 2,785,000 | | | 1,430,000 | | | $ | 4,215,000 | | | $ | 10,911,000 | | | $ | 15,126,000 | | | |
The amount of debt outstanding under our Credit Facility was as follows: | | | | | | | | | | | | | | | | | | April 30, 2026 | | July 31, 2025 | | Term Loan | | $ | 116,031,000 | | | $ | 116,260,000 | | | Less: Unamortized deferred financing costs related to term loan | | 2,785,000 | | | 3,523,000 | | | Less: Unamortized discount related to term loan | | 10,911,000 | | | 13,804,000 | | | Term loan, net | | 102,335,000 | | | 98,933,000 | | | Revolving Loan | | 3,641,000 | | | 17,641,000 | | | Embedded derivative related to credit facility | | 2,267,000 | | | 1,890,000 | | | Amount outstanding under credit facility, net | | $ | 108,243,000 | | | 118,464,000 | | | Less: Current portion of credit facility | | 4,050,000 | | | 4,050,000 | | | Non-current portion of credit facility, net | | $ | 104,193,000 | | | $ | 114,414,000 | |
The following table reconciles the amount outstanding under the Subordinated Credit Facility to its net carrying value:
| | | | | | | | | | | | | | | | | | | | | | | | | April 30, 2026 | | July 31, 2025 | | | | Subordinated credit facility, including interest paid-in-kind | | | | | | $ | 104,135,000 | | | 100,144,000 | | | | | Less: Unamortized deferred financing costs | | | | | | 1,287,000 | | | 1,528,000 | | | | | Less: Unamortized discount | | | | | | 12,978,000 | | | 15,404,000 | | | | | Plus: Accretion of make-whole amount | | | | | | 16,211,000 | | | 6,623,000 | | | | | Subordinated credit facility, net - subtotal | | | | | | 106,081,000 | | | 89,835,000 | | | | | Embedded derivative related to redemption features | | | | | | 798,000 | | | 5,753,000 | | | | | Amount outstanding under the subordinated credit facility, net | | | | | | 106,879,000 | | | 95,588,000 | | | | | Less: Current portion of subordinated credit facility | | | | | | — | | | — | | | | | Non-current portion of subordinated credit facility, net | | | | | | $ | 106,879,000 | | | 95,588,000 | | | |
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