Subsequent Events

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

The Company evaluates subsequent events in accordance with ASC 855, Subsequent Events. The Company evaluates subsequent events up until the date the consolidated financial statements are issued.

In connection with its lease of the Transitioned Facilities, Trillium is completing negotiations to upsize its working line of credit to fund day-to-day cash requirements associated with the new operations. As such, on January 2, 2018, the Company agreed to fund a bridge loan to Trillium of up to $11.0 million until the earlier of (i) March 31, 2018, (ii) the date that Trillium enters into a new credit facility such that Trillium may submit draw requests to the applicable lender, and (iii) the date on which the master lease with Trillium is terminated with respect to any facility incorporated in the borrowing base. Borrowings under the bridge loan accrue interest at a base rate of 8.0%. The bridge loan is collateralized by the accounts receivable of each borrower entity that is party to the bridge loan agreement. As of February 27, 2018, $10.9 million was outstanding under the bridge loan.