Cumulus Media(CMLS) - 2023 Q3 - Earnings Call Transcript

It's necessarily only the better yield. As I mentioned in my prepared remarks, the term loan has a mechanism that any excess cash flow at the end of the year, we have to pay back at par, leverage is above a certain level. And so being able to -- and we don't know what our excess cash flow sweep will be, if any, at the end of the year. But from a planning perspective, having to pay that back and this kind of prepayment counts for that mechanism being able to pay that back at $0.835 versus par is just compell ...