Note 10 - Long-Term Debt

12 Months Ended

Mar. 01, 2020

Notes to Financial Statements

Debt Disclosure [Text Block]

1 0 . LONG-TERM DEBT

On

January 15, 2016,

the Company entered into a

three

-year revolving credit facility agreement (the “Credit Agreement”) with HSBC Bank USA, National Association (“HSBC Bank”). The Credit Agreement provided for loans up to

$75,000

and letters of credit up to

$2,000.

On

January 3, 2018,

in connection with the Company’s prepayment of the entire loan balance, the Company terminated the Credit Agreement. The prepayment was made with the Company’s cash and cash equivalents, marketable securities and restricted cash. In connection with the termination of the Credit Agreement, the Company expensed the remaining deferred financing costs of

$144

in the

fourth

quarter of the fiscal year ended

February 28, 2018.

Interest expense recorded under the Credit Agreement was approximately

$0,

$0

and

$2,269

during the

2020,

2019

and

2018

fiscal years, respectively, which is included in interest expense on the Consolidated Statements of Operations.