Convertible Debt and Notes Payable (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Debt and Capital Lease Obligations

As of December 31, 2015 and 2014, the Company's outstanding debt was as follows:



	As of December 31,
	2015		2014
	(dollars in thousands)
Convertible debt	$	124,777	$	118,475
Note Payable	63,250		63,250
Revolver	5,000		—
Capital lease obligations	2,734		3,894
	$	195,761	$	185,619

Schedule of Maturities of Debt and Future Minimum Lease Payments for Capital Leases

Annual scheduled maturities of debt and minimum payments for all debt outstanding as of December 31, 2015, is as follows:



	Convertible Debt			Note Payable			Revolver		Capital Lease Obligation
	(dollars in thousands)
2016	$	4,485		$	5,218		$	5,000	$	1,025
2017	4,485			5,218			—		938
2018	4,485			5,218			—		938
2019	151,743			5,218			—		78
2020	—			5,218			—		—
Thereafter	—			68,468			—		—
Subtotal	165,198			94,558			5,000		2,979
Less: Amount representing interest (a)	(40,421		)	(31,308		)	—		(245		)
Total	$	124,777		$	63,250		$	5,000	$	2,734


(a)	Amount necessary to reduce net minimum payments to present value calculated at the Company's implicit rate at inception. This amount also includes the unamortized discount on the convertible debt.

Schedule of Line of Credit Facilities

As of December 31, 2015, the Company has the following eight irrevocable letters of credit related to leased office space, for which there is cash collateral pledged, which the Company pays a fee on the stated amount of the letter of credit.



Location	Amount		Maturity
	(dollars in thousands)
San Francisco	$	710	January 2016
New York	$	1,000	February 2016
Boston	$	382	March 2016
New York	$	355	May 2016
New York	$	1,861	May 2016
New York	$	794	October 2016
New York	$	3,373	October 2016
New York	$	1,600	November 2016