Lease Commitments

12 Months Ended

Jun. 30, 2013

10. Lease Commitments

The company is obligated under operating leases for facilities and equipment expiring at various dates through the year 2017. Future minimum payments are as follows (in thousands):


		Operating Leases
Year Ending June 30:	2014	$	512
	2015		512
	2016		512
	2017		299
	2018		—
	Thereafter		—

		$	1,835

Rental expense was approximately $477,000, $487,000 and $484,000 for the years ended June 30, 2013, 2012 and 2011, respectively. At June 30, 2013 and 2012, restricted cash was being held as collateral for a letter of credit securing certain lease payments.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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