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Subsequent Events
6 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On October 20, 2022, HLA modified its existing credit facility with First Republic Bank. The modifications took the form of a new Multi-Draw Term Loan and Security Agreement, as well as amendments to the existing Revolving Loan and Security Agreement, Term Loan and Security Agreement and prior Multi-Draw Term Loan and Security Agreement (collectively, the “Loan Agreements”).

The modifications extended maturity dates and added borrowing capacity across the Loan Agreements, subject to an overall cap of $325 million of loan principal outstanding. The facility is secured by substantially all of HLA’s personal property assets, subject to certain excluded assets. The Loan Agreements contain financial and operational covenants, events of default and remedies that HLA believes to be customary. The modifications to the credit facility are described more particularly on a Form 8-K filed by the Company on October 26, 2022.

On November 1, 2022, the Company declared a quarterly dividend of $0.40 per share of Class A common stock to record holders at the close of business on December 15, 2022. The payment date will be January 6, 2023.