Debt

9 Months Ended

Sep. 30, 2011

Debt [Abstract]

Debt

3. Debt

The Company has an agreement with a consortium of lenders to provide up to $150.0 million of financing to the Company through an unsecured revolving credit facility (the “Credit Facility”), expiring on December 20, 2011. The agreement contains an expansion feature for the Company to increase the total financing available under the Credit Facility by up to $50.0 million for an aggregate of up to $200.0 million in financing. Such increased financing would be provided by one or more existing Credit Facility lending institutions, subject to the approval of the lenders, and/or in combination with one or more new lending institutions, subject to the approval of the Credit Facility’s administrative agent.

The Company expects to renew or replace the Credit Facility prior to its expiration. As of September 30, 2011, there were no outstanding borrowings under the Credit Facility. As of December 31, 2010, the outstanding borrowings balance under the Credit Facility was $53.0 million.

Interest paid during each of the nine-month periods ended September 30, 2011, and 2010, was $0.3 million and $0.7 million, respectively.