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Line of Credit | 12 Months Ended
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Dec. 31, 2015
Line of Credit [Abstract] |
Line of Credit |
7. | Line of Credit
The Company has an unsecured $40 million revolving line of credit with a bank. This facility, which is renewable annually, has an expiration date of June 15, 2016. The credit facility remained unused throughout 2014 and 2015. Borrowings under this facility would bear interest at LIBOR (1.175% at December 31, 2015) 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, 2015 and 2014, 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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- References No definition available. + Details
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