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Office Relocation
9 Months Ended
Sep. 30, 2015
Office Relocation [Abstract]  
Office Relocation

NOTE 13:

OFFICE RELOCATION

In February 2015, the Company entered into an agreement to terminate the lease for its corporate headquarters in Philadelphia, PA. As part of this agreement, the Company was entitled to receive a payment of $1.5 million as long as the Company vacated the facility by May 18, 2015. The Company vacated the facility on May 17, 2015 and received payment on June 22, 2015. In connection with the lease termination, the Company has recognized other income of $1.5 million during the nine months ended September 30, 2015 in the statement of operations. The Company depreciated the remaining net book value of the leasehold improvements and furniture and fixtures associated with the old headquarters, and recognize the remaining deferred rent liability through the move date of May 17, 2015. The statement of operations includes accelerated depreciation of zero and $0.8 million for the three and nine months ended September 30, 2015 reported in depreciation and amortization, respectively, as well as accelerated deferred rent of zero and $0.4 million for the three and nine months ended September 30, 2015, reported in selling, general and administrative expenses in the UC Segment, respectively.

In connection with the lease termination, the Company entered into a lease for a new corporate headquarters in Philadelphia, PA dated February 27, 2015. The terms of the lease are for 10 full years with minimum rental payments of $0.4 million for the first full twelve month period, escalating by 2.5% each year thereafter. The first full twelve month period began on June 1, 2015 since the Company began operating from the new location on May 18, 2015. Per the agreement, the Company paid a per diem rate from the date it begins operating from the new location until the first day of the first full month.