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Long-Term Debt | 12 Months Ended
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Dec. 31, 2011
Long-Term Debt | ## Note 8 — Long-Term Debt ### Notes Payable Notes payable consist of the following at December 31 (in thousands):
|  | 2011 |  | 2010
Opportunity Grant Fund notes payable; non-interest bearing; principal only payments due in monthly installments of $6,667 through April 2012 |  | $ | 20 |  |  | $ | 100 |
Loan agreements; bear interest at 3% per annum; repayment is conditional |  |  | 300 |  |  |  | 300 |
Total |  |  | 320 |  |  |  | 400 |
Less current portion |  |  | (20 | ) |  |  | (80 | )
Long-term portion |  | $ | 300 |  |  | $ | 320 |
### Opportunity Grant Fund Note Payable In April 2007, the Company entered into a Settlement and Release Agreement with the Commonwealth of Pennsylvania, whereby the Company agreed to repay the original grant of $400,000 associated with its former corporate headquarters and product development activities in Malvern, Pennsylvania in 60 monthly installments of $6,667 each starting May 2007. Interest does not accrue on the outstanding balance. ### Loan Agreements In May 2008, the Company entered into loan agreements with the State of Maryland and Montgomery County whereby the repayment of the loan amounts and accrued interest is conditioned upon the Company meeting the capital investment and employment requirements during the term of the loans through 2014, as amended. Aggregate future minimum principal payments on long-term debt at December 31, 2011 are as follows (in thousands):
Year |  | Amount
2012 |  | $ | 20 |
2013 |  |  | — |
2014 |  |  | 300 |
Total minimum principal payments |  | $ | 320

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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