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Lease
3 Months Ended
Mar. 31, 2019
Lease  
Lease

9. Lease

 

We have an operating lease for our corporate headquarters with a remaining lease term of approximately 4.2 years. The lease includes a five-year renewal option at our sole discretion. The total operating lease expense for this lease was $0.1 million for the three months ended March 31, 2019 and 2018, respectively. Cash paid for amount included in the measurement of operating lease liabilities was $0.1  million for the three months ended March 31, 2019. The lease liabilities were measured using a discount rate of 7.15% based on the most recent borrowing rate for our senior secured Term B Loan.

 

Future minimum lease payments on our corporate headquarters as of March 31, 2019 are as follows:

 

 

 

 

 

(In thousands)

    

 

 

Years ending December 31:

 

 

 

Remainder of 2019

 

$

304

2020

 

 

416

2021

 

 

428

2022

 

 

441

2023

 

 

201

Total future minimum lease payments

 

 

1,790

Imputed interest

 

 

(244)

Total

 

$

1,546

 

 

 

 

Reported as of March 31, 2019

 

 

 

Operating lease liability, current portion

 

$

308

Operating lease liability, net of current portion

 

 

1,238

Total

 

$

1,546