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Long-Term Debt
3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Long-Term Debt
Long-Term Debt

We have a secured revolving loan facility and term loan facility of up to $30.0 million under a loan agreement (the “Loan Agreement”) with Silicon Valley Bank (“SVB”), which expires by its terms on May 23, 2017.

On March 29, 2016, we entered into a Fourth Loan Modification Agreement with SVB to modify the adjusted EBITDA financial covenant for periods ending after December 31, 2015.

At March 31, 2016, we had $0.7 million of outstanding letters of credit, no revolving loans outstanding under the Loan Agreement and $3.0 million of term loans outstanding at an interest rate of 2.63%. We were in compliance with all covenants as of March 31, 2016.