5. Debt	12 Months Ended
Dec. 31, 2018
Notes to Financial Statements
5. Debt	The Company’s $1,000 credit facility with Silicon Valley Bank matured on December 26, 2018, and the Company elected to not renew it. The Loan and Security Agreement governing the revolving credit facility contained customary borrowing terms and conditions, including the accuracy of representations and warranties, compliance with financial maintenance and restrictive covenants and the absence of events of default. Pursuant to the Loan and Security Agreement, the Company was permitted to pay cash dividends, the total of which was not to exceed $5,000 in the aggregate during any twelve-month period, so long as an event of default did not exist at the time of such dividend and would not exist after giving effect to such dividend. The variable rate at which borrowings under the credit facility were to bear interest was The Wall Street Journal prime rate plus 25 basis points. The financial maintenance covenants, which were required to be maintained at all times and tested quarterly (or, for the “adjusted quick ratio” covenant, monthly, if any obligations are outstanding), included: (1) a ratio of “quick assets” to the sum of “current liabilities” plus outstanding borrowings to Silicon Valley Bank to the extent not included in “current liabilities” minus the current portion of “deferred revenue” (all as defined in the Loan and Security Agreement) of at least 1.25:1.00 and (2) maximum “total leverage” (as defined in the Loan and Security Agreement) of no greater total consolidated “indebtedness” than 3 times “adjusted EBITDA” (all as defined in the Loan and Security Agreement). The Company’s obligations were collateralized by substantially all of the Company’s assets, principally accounts receivable and inventory. The Company was in compliance with all covenants under the Loan and Security Agreement when it matured on December 26, 2018. The Company had no borrowings outstanding under the credit facility at the time it matured, and the Company elected not to renew it.

5. Debt

12 Months Ended

Dec. 31, 2018

The Company’s $1,000 credit facility with Silicon Valley Bank matured on December 26, 2018, and the Company elected to not renew it. The Loan and Security Agreement governing the revolving credit facility contained customary borrowing terms and conditions, including the accuracy of representations and warranties, compliance with financial maintenance and restrictive covenants and the absence of events of default. Pursuant to the Loan and Security Agreement, the Company was permitted to pay cash dividends, the total of which was not to exceed $5,000 in the aggregate during any twelve-month period, so long as an event of default did not exist at the time of such dividend and would not exist after giving effect to such dividend. The variable rate at which borrowings under the credit facility were to bear interest was The Wall Street Journal prime rate plus 25 basis points.

The financial maintenance covenants, which were required to be maintained at all times and tested quarterly (or, for the “adjusted quick ratio” covenant, monthly, if any obligations are outstanding), included: (1) a ratio of “quick assets” to the sum of “current liabilities” plus outstanding borrowings to Silicon Valley Bank to the extent not included in “current liabilities” minus the current portion of “deferred revenue” (all as defined in the Loan and Security Agreement) of at least 1.25:1.00 and (2) maximum “total leverage” (as defined in the Loan and Security Agreement) of no greater total consolidated “indebtedness” than 3 times “adjusted EBITDA” (all as defined in the Loan and Security Agreement). The Company’s obligations were collateralized by substantially all of the Company’s assets, principally accounts receivable and inventory.

The Company was in compliance with all covenants under the Loan and Security Agreement when it matured on December 26, 2018. The Company had no borrowings outstanding under the credit facility at the time it matured, and the Company elected not to renew it.