The components of our long-term debt are presented in the following table (in thousands):

 

		September 30,				December 31,
		2019				2018
Credit Agreement borrowings		$	105,000			$	21,000
Senior Second Lien Notes:
Principal			625,000				625,000
Unamortized debt issuance costs			(11,051	)			(12,465	)
Total Senior Second Lien Notes			613,949				612,535
Total long-term debt		$	718,949			$	633,535

 

 

 

On we entered into the Sixth Amended and Restated Credit Agreement (the “Credit Agreement”), which matures on The primary terms and covenants associated with the Credit Agreement are as follows, with capitalized terms defined under the Credit Agreement:

 

 

 

 

 

Availability under the Credit Agreement is subject to semi-annual redeterminations of our borrowing base to occur on or before and each calendar year, and certain additional redeterminations that be requested at the discretion of either the lenders or the Company.  The borrowing base has changed from the initial amount.  The borrowing base is calculated by our lenders based on their evaluation of our proved reserves and their own internal criteria.  Any redetermination by our lenders to change our borrowing base will result in a similar change in the availability under the Credit Agreement.  The Credit Agreement’s security is collateralized by a priority lien on properties onstituting at least of the total proved reserves of the Company as set forth on reserve reports required to be delivered under the Credit Agreement and certain personal property.  The annualized interest rate on borrowings outstanding for the  months ended wh excludes debt issuance costs, commitment fees and other fees.

 

 

On we issued million of Senior Second Lien Notes due (the “Senior Second Lien Notes”), which were issued at par with an interest rate of per annum and mature on and are governed under the terms of the Indenture of the Senior Second Lien Notes (the “Indenture”).  The estimated annual effective interest rate on the Senior Second Lien Noteich includes amortization of debt issuance costs.  Interest on the Senior Second Lien Notes is payable in arrears on and of each year.

 

The Senior Second Lien Notes are secured by a -priority lien on all of our assets that are secured under the Credit Agreement.  The Senior Second Lien Notes contain covenants that limit or prohibit our ability and the ability of certain of our subsidiaries to: (i) make investments; (ii) incur additional indebtedness or issue certain types of preferred stock; (iii) create certain liens; (iv) sell assets; (v) enter into agreements that restrict dividends or other payments from the Company’s subsidiaries to the Company; (vi) consolidate, merge or transfer all or substantially all of the assets of the Company; (vii) engage in transactions with affiliates; (viii) pay dividends or make other distributions on capital stock or subordinated indebtedness; and (ix) create subsidiaries that would be restricted by the covenants of the Indenture.  These covenants are subject to exceptions and qualifications set forth in the Indenture.  In addition, most of the above described covenants will terminate if both S&P Global Ratings, a division of S&P Global Inc., and Moody’s Investors Service, Inc. assign the Senior Second Lien Notes an investment grade rating and default exists with respect to the Senior Second Lien Notes.

 

 

 

As of we were in compliance with all applicable covenants of the Credit Agreement and the Indenture.

 

 

 

For information about fair value measurements of our long-term debt, refer to Note