Credit Facilities

3 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Credit Facilities

Credit Facilities

On November 11, 2010, we entered into a Credit and Security Agreement (credit facility) with Wells Fargo Bank, National Association ("Wells Fargo"). The credit facility is secured by the Company's assets and is subject to a borrowing base formula based on the Company's eligible accounts receivable, inventory, and machinery and equipment accounts.

On December 3, 2014, we entered into a Sixth Amendment to the credit facility, pursuant to which Wells Fargo agreed to automatically release all encumbrances covering certain of the Company’s assets to be sold pursuant to the Photovoltaics Agreement and the Digital Products Agreement. In addition, on December 10, 2014, upon notice to Wells Fargo of the closing of the transaction contemplated by the Photovoltaics Agreement, the maximum borrowing allowed under the credit facility was reduced from $35.0 million to $15.0 million, and certain other changes to the borrowing base calculations went into effect.

On November 10, 2015, we entered into a Seventh Amendment of the credit facility, which extended the maturity date of the facility to November 2018 and adjusted the interest rate to LIBOR plus 2.5%.

As of December 31, 2015, there were no amounts outstanding under this credit facility and the Company was in compliance with all financial covenants. Also as of December 31, 2015, the credit facility had approximately $0.7 million reserved for two stand-by letters of credit and $7.4 million available for borrowing. As of February 4, 2016, there was no outstanding balance under this credit facility.