Long-term debt is recorded at carrying value in the condensed consolidated balance sheets. The carrying value of long-term debt outstanding, net of unamortized debt issuance costs, consisted of the following as of June 30, 2022 and December 31, 2021:


	June 30, 2022			December 31, 2021
Long-term debt	$	156,282		$	154,112
Less unamortized debt issuance costs		(2,351	)		(3,492	)
Long-term debt-net of amortization		153,931			150,620
Less current portion of long-term debt		—			—
Long-term debt - net of current portion	$	153,931		$	150,620

As of June 30, 2022, the total long-term debt balance of $156,282 included the principal balance of $135,000, the initial commitment fee of $6,750, and the payment-in-kind interest on the principal balance of $14,122. The payment-in-kind interest on the principal balance is also subject to the commitment fee which was $410 as of June 30, 2022. This amount was also included in the long-term debt balance.

Subsequent to the balance sheet date we extended the maturity of the term loan to September 30, 2023. There were no other changes to the terms of the term loan. This extension had no impact on the long-term debt balance.

In addition, the term loan includes financial covenants regarding the maintenance of minimum liquidity of $6,000 of operating cash, as defined, on a consolidated basis, at least $10,000 in its cash accounts on a daily basis and minimum consolidated revenue amounts. The term loan also contains certain nonfinancial covenants. As of June 30, 2022 and December 31, 2021, we were in compliance with all financial and nonfinancial covenants.

The term loan was entered into by our wholly owned subsidiary and is also guaranteed by certain of our wholly owned subsidiaries and collateralized by all unrestricted assets of our subsidiaries.