Note 8 - Overdraft Facility and Line of Credit	12 Months Ended
Dec. 31, 2019
Notes to Financial Statements
Working Capital, Line of Credit and Overdraft Facility [Text Block]	8. OVERDRAFT FACILITY AND LINE OF CREDIT On October 5, 2016, Orbital Gas Systems Ltd. signed a $1.5 million pounds sterling five -year agreement with the London branch of Wells Fargo Bank N.A. for a multi-currency variable rate overdraft facility at a base rate plus a 2.25% margin ( 2.5% at December 31, 2018). During April 2019, CUI Global replaced the existing line of credit and overdraft facilities with a new two -year credit facility with Bank of America for CUI Inc. and CUI-Canada, perfected by a first security lien on all assets of CUI Inc. and CUI-Canada. The facility also included a $3 million sub-limit for use by CUI-Global non-loan party subsidiaries as a reserve under the borrowing base. The credit facility provided for working capital and general corporate purposes. The credit facility provided up to $10,000,000 in a Revolving Line of Credit Facility (“Revolver”), including a sub-limit for letters of credit. Interest was based upon Daily Floating LIBOR at LIBOR + 2.00%. The Company discontinued this line of credit in 2019 upon the sale of the domestic power and electromechanical businesses. The additional credit was no longer needed due to the cash influx from the sale of the businesses, and the sold businesses were a primary source of collateral for the line of credit.

OVERDRAFT FACILITY AND LINE OF CREDIT

October 5, 2016,

Orbital Gas Systems Ltd. signed a

$1.5

million pounds sterling

five

-year agreement with the London branch of Wells Fargo Bank N.A. for a multi-currency variable rate overdraft facility at a base rate plus a

2.25%

margin (

2.5%

December 31, 2018).

During

April 2019,

CUI Global replaced the existing line of credit and overdraft facilities with a new

two

-year credit facility with Bank of America for CUI Inc. and CUI-Canada, perfected by a

first

security lien on all assets of CUI Inc. and CUI-Canada. The facility also included a

million sub-limit for use by CUI-Global non-loan party subsidiaries as a reserve under the borrowing base. The credit facility provided for working capital and general corporate purposes. The credit facility provided up to

$10,000,000

in a Revolving Line of Credit Facility (“Revolver”), including a sub-limit for letters of credit. Interest was based upon Daily Floating LIBOR at LIBOR +

2.00%.

The Company discontinued this line of credit in

2019

upon the sale of the domestic power and electromechanical businesses. The additional credit was

longer needed due to the cash influx from the sale of the businesses, and the sold businesses were a primary source of collateral for the line of credit.