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Contingencies
6 Months Ended
Jun. 30, 2015
Contingencies  
Contingencies

Note 13.Contingencies

 

(a)Litigation

 

The Company is not presently a party to any litigation that it believes might have a material adverse effect on its business operations. The Company is, from time to time, a party to litigation that arises in the normal course of its business operations.

 

(b)Indemnifications

 

The Company’s system sales agreements typically include provisions under which the Company agrees to take certain actions, provide certain remedies and defend its customers against third-party claims of intellectual property infringement under specified conditions and to indemnify customers against any damage and costs awarded in connection with such claims. The Company has not incurred any material costs as a result of such indemnifications and has not accrued any liabilities related to such obligations in the accompanying consolidated financial statements.

 

(c)Lease Commitments

 

In addition to the lease commitments as described within Note 16 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for our year ending December 31, 2014, in January 2015, the Company entered into a 22-year lease agreement relating to our corporate headquarters in Beverly, Massachusetts. The following table relates to the cash payment schedule associated with our lease obligation as of June 30, 2015:

 

 

 

Lease Obligation

 

 

 

(in thousands)

 

2015

 

$

2,350

 

2016

 

4,815

 

2017

 

5,315

 

2018

 

5,470

 

2019

 

5,594

 

Thereafter

 

109,567

 

 

 

 

 

Total lease payments

 

$

133,111

 

Less interest portion

 

(85,525

)

 

 

 

 

Sale leaseback obligation

 

$

47,586