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Debt and Credit Facilities (Tables)
 9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Summary of Debt
Debt consisted of the following:

September 30, 2019
 
December 31, 2018
Term loan and security agreement 1
$
158,285

 
$
163,758


1 Presented in the Condensed Consolidated Balance Sheets as of September 30, 2019 as current portion of long-term debt of $3.3 million, net of deferred financing costs and original issue discount each of $0.5 million; and long-term debt of $155.0 million, net of deferred financing costs and original issue discount of $1.3 million and $1.4 million, respectively.
Margin for Borrowings under Revolving Credit Facility
The applicable margin, which is set at Level III as of September 30, 2019, is based on average daily availability under the revolving credit facility as follows:
Level
 
Average Daily Availability
 
Tranche A
Base Rate
Loans
 
Tranche A
LIBOR
Revolver Loans
 
Tranche B
Base Rate
Loans
 
Tranche B
LIBOR
Revolver Loans
III
 
≥ $30,000,000
 
0.50
%
 
1.50
%
 
1.50
%
 
2.50
%
II
 
> $15,000,000 but < $30,000,000
 
0.75
%
 
1.75
%
 
1.75
%
 
2.75
%
I
 
≤ $15,000,000
 
1.00
%
 
2.00
%
 
2.00
%
 
3.00
%