17 unchanged sentences
To reduce our exposure to market risks from increases in interest rates on our variable rate indebtedness we entered into a hedging arrangement in the form of an interest rate cap agreement.
−Removed: The new interest rate cap agreement, as further discussed in “Note 9.
−Removed: Long-Term Debt” included in the Notes to the Consolidated Financial Statements in this Annual Report, provides us with interest rate protection in the event the one-month Term SOFR rate increases above 1.78% and has a December 31, 2024 termination date.
−Removed: As of December 31, 2023, the interest rate cap agreement hedged $87.5 million of principal under our term loan.
+Added: The interest rate cap agreement, as further discussed in “Note 9.
+Added: Long-Term Debt” included in the Notes to the Consolidated Financial Statements in this Annual Report, provided us with interest rate protection in the event the one-month Term SOFR rate increases above 1.78% and expired on December 31, 2024.
+Added: In January 2025, we entered into a new interest rate cap agreement, with a notional value of $ 50.0 million, which will expire in June 2026.
+Added: This new interest rate cap agreement provides us with interest rate protection in the event that the Term SOFR rate exceeds 5.00 %.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.