Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 68

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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 interests in magicJack VocalTec Ltd., an Israel corporation. Such security interests are evidenced by pledge, security, and other related agreements.The borrowings under the BRPAC Amended Credit Agreement bear interest equal to the Term SOFR rate plus a margin of 2.75% to 3.50% per annum, depending on the Borrowers consolidated total funded debt ratio as defined in the BRPAC Amended Credit Agreement.  The interest rate is subject to a margin level of 3.25%.  As of the Closing Date, the outstanding principal amount was $80,000 with quarterly installments of principal due in the amount of $4,000, and any remaining principal balance is due at final maturity on January 6, 2030.The BRPAC Amended Credit Agreement contains certain covenants, including those limiting the Credit Parties’, and their subsidiaries’, ability to incur indebtedness, incur liens, sell or acquire assets or businesses, change the nature of their businesses, engage in transactions with related parties, make certain investments or pay dividends. In addition, the BRPAC Amended Credit Agreement requires the Credit Parties to maintain certain financial ratios. The BRPAC Amended Credit Agreement also contains customary representations and warranties, affirmative covenants, and events of default, including payment defaults, breach of representations and warranties, covenant defaults and cross defaults. If an event of default occurs, the agent would be entitled to take various actions, including the acceleration of outstanding amounts due under the BRPAC Amended Credit Agreement.

NOTE 11 — SENIOR NOTES PAYABLE 

42

Senior notes payable, net, are comprised of the following:June 30,2024December 31,20236.750% Senior notes due May 31, 2024$— $140,492 6.375% Senior notes due February 28, 2025145,302 146,432 5.500% Senior notes due March 31, 2026217,440 217,440 6.500% Senior notes due September 30, 2026180,532 180,532 5.000% Senior notes due December 31, 2026324,714 324,714 6.000% Senior notes due January 31, 2028266,058 266,058 5.250% Senior notes due August 31, 2028405,483 405,483 1,539,529 1,681,