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Revolving Line of Credit (Tables)
6 Months Ended
Jun. 30, 2013
Debt Disclosure [Abstract]  
Chronology of Total Commitment Under Revolving Credit Facility with Associated Rate Options in Effect

The following table demonstrates the total commitment under the revolving credit facility with the associated rate options in effect during the three and six month periods ended June 30, 2013 and 2012. As of June 30, 2013, the total commitment under the facility was $150 million.

 

Amendment Date

   Total Commitment
under Credit Facility

(in millions)
    

Rate options(1)

October 2011

   $ 100       Prime plus 0.75%    or    LIBOR plus 2.75%

December 2012

   $ 150       Base(2) plus 0.75%    or    LIBOR plus 2.50%

 

(1) Under the terms of the facility, loans are Base Rate Loans (or, prior to December 2012, Prime Rate Loans), unless we elect LIBOR Loans. If a LIBOR Loan is not renewed at maturity it automatically converts to a Base Rate Loan.
(2) The “base rate” is the highest of the prime rate established by the Agent, or one-month LIBOR plus 1%, or the federal funds effective rate plus 0.5%.