DEBT	12 Months Ended
Dec. 31, 2015
DEBT
DEBT	10. DEBT The Company entered into a credit facility with Comerica Bank (“Comerica”) consisting of a revolving line of credit, which was amended in April 2015, under which the Company may borrow up to $10.0 million of non-collateralized debt. The revolving line of credit is effective through June 1, 2017. Interest on borrowings under the line of credit is based on Comerica’s base (prime) rate minus 1% to 1.5%, or London Interbank Offered Rates plus an additional percentage of 1.25% to 1.75%, depending upon certain financial ratios maintained by the Company. The Company had no outstanding borrowings on this line of credit at December 31, 2015. Under this revolving line of credit, the Company may also issue standby Letters of Credit with an aggregate amount of up to $4.0 million. The fee on the standby Letters of Credit ranges from 1.00% to 1.50% depending upon certain financial ratios maintained by the Company. The Company had no outstanding standby Letters of Credit at December 31, 2015. The Company’s debt of $0.8 million and $0.4 million at December 31, 2015 and 2014, respectively, consisted of capital leases, collateralized by vehicles, payable over 12 months in monthly installments at various effective interest rates, with final payments ending on or before December 31, 2016. At December 31, 2015 and 2014, the assets acquired under capital leases had a net book value of $3.6 million and $3.7 million, net of accumulated depreciation of $4.4 million and $3.5 million, respectively. Interest expense for capital lease obligations amounted to $0.03 million, $0.03 million and $0.05 million for the years ended December 31, 2015, 2014 and 2013, respectively.

DEBT

12 Months Ended

Dec. 31, 2015

10. DEBT

The Company entered into a credit facility with Comerica Bank (“Comerica”) consisting of a revolving line of credit, which was amended in April 2015, under which the Company may borrow up to $10.0 million of non-collateralized debt. The revolving line of credit is effective through June 1, 2017. Interest on borrowings under the line of credit is based on Comerica’s base (prime) rate minus 1% to 1.5%, or London Interbank Offered Rates plus an additional percentage of 1.25% to 1.75%, depending upon certain financial ratios maintained by the Company. The Company had no outstanding borrowings on this line of credit at December 31, 2015. Under this revolving line of credit, the Company may also issue standby Letters of Credit with an aggregate amount of up to $4.0 million. The fee on the standby Letters of Credit ranges from 1.00% to 1.50% depending upon certain financial ratios maintained by the Company. The Company had no outstanding standby Letters of Credit at December 31, 2015.

The Company’s debt of $0.8 million and $0.4 million at December 31, 2015 and 2014, respectively, consisted of capital leases, collateralized by vehicles, payable over 12 months in monthly installments at various effective interest rates, with final payments ending on or before December 31, 2016.

At December 31, 2015 and 2014, the assets acquired under capital leases had a net book value of $3.6 million and $3.7 million, net of accumulated depreciation of $4.4 million and $3.5 million, respectively.

Interest expense for capital lease obligations amounted to $0.03 million, $0.03 million and $0.05 million for the years ended December 31, 2015, 2014 and 2013, respectively.