Company: MYGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000899923-25-000019
Chunk: 214

Company: MYRIAD GENETICS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 214
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 in certain instances, to specified grace periods), the principal, premium, if any, interest, and any other monetary obligations on all the then-outstanding amounts under the ABL Facility may become due and payable immediately. Under the terms of the ABL Facility, if (i) an event of default has occurred and is continuing or (ii) availability under the ABL Facility is less than the greater of (a) $12.5 million and (b) 15% of the lesser of the maximum commitment amount and the borrowing base, the Company will become subject to cash dominion, upon which the administrative agent will apply funds credited to a collection account to first prepay any outstanding protective advances, second to prepay any revolving loans and third, to cash collateralize any outstanding letter of credit exposure. Such cash dominion period will end when availability has remained in excess of the greater of (i) $12.5 million and (ii) 15% of the lesser of the maximum commitment amount and the borrowing base for a period of 45 consecutive days and no event of default is continuing.

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Table of Contents

8.    OTHER LONG-TERM LIABILITIES

The Company's other long-term liabilities were as follows:December 31,(in millions)20242023Contingent consideration$— $2.3 Escrow liability— 7.5 Legal settlements— 24.0 Other2.2 7.5 Total other long-term liabilities$2.2 $41.3 

On October 23, 2023 (the "Effective Date"), the Company and Ravgen, Inc. ("Ravgen") entered into a settlement agreement pursuant to which the parties agreed to settle a pending lawsuit. Pursuant to the terms of the settlement agreement, the Company agreed to pay Ravgen a minimum of $12.8 million in three installment payments of $5 million, $5 million, and $2.8 million on or before October 31, 2023, October 31, 2024, and October 31, 2025, respectively.  The Company also agreed to pay Ravgen $21.3 million in five annual installments beginning no earlier than January 1, 2026 if Ravgen successfully concluded in its favor all of Ravgen's litigations and patent reexaminations pending as of the Effective Date. As of the Effective Date, the Company determined that the payment of