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Credit Facility (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Summary of Outstanding Borrowings under Credit Facility
The following table provides a summary of the Company’s outstanding borrowings under the Credit Facility:
                                 
 
March 31, 2020
   
December 31, 2019
 
 
Term Loan
 
  
Revolver
(1)
 
  
Term Loan
 
  
Revolver
(1)
 
Amount borrowed
  $
179,000
    $
  —  
     $
200,000
    $
  —  
  
Amounts repaid
   
(5,000
 )    
—  
      
(21,000
 )    
—  
  
                                 
Amounts outstanding
   
174,000
      
—
      
179,000
      
—  
  
Unamortized issuance costs
   
(2,452
 )    
540
     
(3,044
 )    
671
 
                                 
Carrying amount
  $
171,548
    $
540
     $
175,956
    $
671
  
                                 
Effective interest rate
(2)
    
5.00
 %    
n/a
     
5.32
 %    
n/a
 
                                 
 
 
 
 
 
 
 
 
 
 
(1) The available capacity under the Revolver is subject to compliance with the Total Leverage Ratio.
 
 
 
 
 
 
 
 
 
(2) Includes amortization of issuance costs.
 
 
 
 
 
 
 
 
 
Schedule Of Required Ratios Under Financial Covenants and Leverage Ratios
The credit agreement includes a financial covenant that requires that the Company maintain a Total Leverage Ratio (as defined below), calculated as of the last day of each fiscal quarter, equal to or less than the ratio set forth opposite such fiscal quarter:
         
Fiscal Quarter Ending
 
Total Leverage Ratio
 
March 31, 2020
   
2.25:1.00
 
June 30, 2020
   
2.25:1.00
 
September 30, 2020 and each subsequent fiscal quarter ending on or before the maturity date
   
2.00:1.00