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CREDIT FACILITY
9 Months Ended
Sep. 30, 2014
Debt Disclosure [Abstract]  
CREDIT FACILITY

7. CREDIT FACILITY

On March 5, 2013, the Company entered into a $15.0 million revolving credit facility. The credit facility has a term of three years and an interest rate of LIBOR + 3.25%. The Company may use any borrowings under the revolving credit facility for general corporate purposes. No obligations were outstanding under the revolving credit facility at any time during the year ended December 31, 2013 or during the nine months ended September 30, 2014. As of September 30, 2014, the Company is currently in compliance with all of the covenants of the credit facility agreement.