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Line of Credit | 12 Months Ended
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Dec. 31, 2013
Line of Credit [Abstract] |
Line of Credit |
7. | Line of Credit
In December 2007, the Company established an unsecured $25 million revolving line of credit with a bank. This facility is renewable annually. In February 2013, the Company amended its credit facility to increase the availability to $40 million and extend the expiration date from June 15, 2013 to June 15, 2014. The credit facility remained unused throughout 2012 and 2013. Borrowings under this facility would bear interest at LIBOR (0.583% at December 31, 2013) plus 200 basis points and the Company is charged three-eighths of a percent (0.375%) per year on the unused portion. At December 31, 2013 and 2012, the Company was in compliance with the terms and covenants of the credit facility.

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- Definition The entire disclosure for short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References No definition available. + Details
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- Details
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