6. Long-Term Debt

Long-term debt consists of the following as of the dates presented (in thousands):

	March 31,		December 31,
	2016		2015
Surplus note	$	15,441	$	15,809
Term loan		6,946		6,851
Promissory note		690		1,390
Total	$	23,077	$	24,050

In addition to the long-term debt listed above, UVE has an unsecured line of credit and had not drawn any amounts under that debt facility. The term loan and unsecured line of credit contain certain covenants and restrictions applicable while amounts are outstanding thereunder. Pursuant to the agreements underlying the term loan and unsecured line of credit, UVE will be prohibited from paying dividends to its shareholders should UVE default on such underlying agreements. UVE was in compliance with the covenants of the term loan as of March 31, 2016. UPCIC was in compliance with the terms of the surplus note as of March 31, 2016.