Convertible Debt and Notes Payable (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Debt and Capital Lease Obligations

As of September 30, 2016 and December 31, 2015, the Company's outstanding debt was as follows:



	As of September 30, 2016		As of December 31, 2015
	(dollars in thousands)
Convertible debt	$	128,065	$	122,401
Note payable	61,145		60,831
Other notes payable	15,166		—
Revolver	—		5,000
Capital lease obligations	2,046		2,734
	$	206,422	$	190,966

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 September 30, 2016, is as follows:



	Convertible Debt			Note Payable			Other Note Payable			Capital Lease Obligation
	(dollars in thousands)
2016	$	—		$	1,304		$	1,221		$	235
2017	4,485			5,218			4,225			938
2018	4,485			5,218			2,225			938
2019	151,743			5,218			3,702			78
2020	—			5,218			1,805			—
Thereafter	—			68,468			4,723			—
Subtotal	160,713			90,644			17,901			2,189
Less: Amount representing interest (a)	(32,648		)	(29,499		)	(2,735		)	(143		)
Total	$	128,065		$	61,145		$	15,166		$	2,046


(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 September 30, 2016, the Company has nine 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. The Company also has a letter of credit, in the amount of $5.5 million, due March 2017, for which cash is pledged as collateral under a reinsurance agreement.



Location	Amount		Maturity
	(dollars in thousands)
New York	$	355	May 2017
New York	$	70	May 2017
New York	$	695	October 2016
New York	$	3,373	October 2016
New York	$	1,600	November 2016
San Francisco	$	710	January 2017
Connecticut	$	65	January 2017
New York	$	1,000	February 2017
Boston	$	382	March 2017