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Credit Agreement (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Credit Agreement

Selected details of our credit agreement as of and for the years ended December 31, 2019 and 2018 were as follows (dollars in thousands):

 

 

 

As of December 31,

 

 

 

2019

 

 

2018

 

Credit Agreement:

 

 

 

 

 

 

 

 

Credit facility remaining availability

 

$

47,782

 

 

$

47,782

 

Outstanding letters of credit (1)

 

$

2,218

 

 

$

2,218

 

Availability of additional letters of credit (2)

 

$

22,782

 

 

$

22,782

 

Weighted average daily revolving credit borrowings

   for the year ended

 

$

-

 

 

$

-

 

Weighted average annual interest rate

 

 

0.00

%

 

 

0.00

%

Commitment fee rate

 

 

0.30

%

 

 

0.30

%

Letter of credit fee rate

 

 

1.25

%

 

 

1.25

%

________________  

(1)

As of December 31, 2018, outstanding letters of credit not related to the credit agreement totaled $0.3 million, fully collateralized with restricted cash.

(2)

The letters of credit sublimit of $25.0 million as of December 31, 2019 and 2018, respectively, under the credit agreement is part of, not in addition to, the $50.0 million commitments as of December 31, 2019 and 2018, respectively.