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Short-Term Borrowing
9 Months Ended
Sep. 30, 2012
Short-Term Borrowing
14. Short-Term Borrowing

On June 22, 2012, we entered into a new $40 million unsecured, short-term credit facility with an existing lender. The credit facility, which was structured in the form of a revolving credit note maturing on June 1, 2013, increases the short-term loan capacity available from this lender from $50 million to $90 million, and the total short-term loan capacity available to us from all lenders from $100 million to $140 million, during that period. Borrowings under this new facility bear interest at LIBOR plus 80 basis points or, at our discretion, this lender’s Base Rate (as defined in the term note agreement) plus 80 basis points. Other terms and conditions of this facility are substantially the same as the other existing loan facilities available from the same lender. In November 2012, our Board of Directors has authorized us to borrow up to $100.0 million in the aggregate short-term borrowings.