Subsequent Events (Notes)

3 Months Ended

Mar. 31, 2020

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Note 15: Subsequent Events

On May 7, 2020, Ebix entered into the Tenth Amendment (the “Amendment”) to the Credit Agreement, dated August 5, 2014, among the Company, Regions Bank as Administrative and Collateral Agent ("Regions") and certain other lenders party thereto (as amended, the "Credit Agreement"). Capitalized terms used in the description below but not defined herein have the meanings given to such terms in the Amendment.

The Amendment provides for, among other things, increased flexibility under the Consolidated Net Leverage Covenant, the addition of a minimum liquidity covenant, the addition of an excess cash flow test for the fiscal year ended December 31, 2020 and beyond, additional pricing tiers based on the Company’s Consolidated Net Leverage, and revised limitations on the Company’s dividend and share repurchase baskets, and permitted acquisitions and investments.  Some of the Credit Agreement changes put in place with the Amendment will cease to be operative when the Company’s Consolidated Net Leverage decreases below agreed-upon levels (generally less than 3.25x).