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Debt Financing Facilities
3 Months Ended
Apr. 30, 2013
Debt Disclosure [Abstract]  
Debt Financing Facilities
Debt Financing Facilities
 
In May 2009, we entered into a Loan and Security Agreement with Silicon Valley Bank, which expired on April 30, 2013. The agreement included a revolving line of credit facility as described below. The agreement contained financial covenants and other customary affirmative and negative covenants.  We were in compliance with all covenants as of April 30, 2013. As part of the agreement, we granted the lender a security interest in our personal property, excluding intellectual property and other intangible assets.
 
We were able to borrow up to $10.0 million under the revolving line of credit facility, subject to a borrowing base determined on eligible accounts receivable and subject to a total maximum outstanding of $10.0 million. As of April 30, 2013, we had no balance outstanding on the revolving line of credit. Interest on any drawdown under the revolving line of credit accrued at the prime rate (3.25% in April 2013).

On May 9, 2013 we entered into a new Loan Agreement with Silicon Valley Bank. The agreement provides for a revolving line of credit facility, which expires May 9, 2015. Under the agreement, we are able to borrow up to $25 million. Interest on any drawdown under the revolving line of credit accrues at either the prime rate or the LIBOR rate plus 2.75%. As of June 13, 2013, we had no balance outstanding under this agreement. The agreement contains customary financial covenants and other affirmative and negative covenants.  We were in compliance with all covenants as of June 13, 2013.