Short-Term Loans

9 Months Ended

Sep. 30, 2012

Short-Term Loans

Short-Term Loans

H.        Short-Term Loans

As of September 30, 2012 and December 31, 2011, neither the Company nor the Partnership had loans or letters of credit outstanding under their respective revolving credit facilities. Commitment fees averaging approximately 5 basis points in the third quarter of 2012 and 7.5 basis points in the third quarter of 2011 were incurred to maintain credit availability under the Company’s revolving credit facility.  The Partnership incurred commitment fees averaging approximately 25 basis points in the third quarter of 2012 to maintain credit availability under its revolving credit facility.

Neither the Company nor the Partnership had any short-term loans outstanding at any time during the nine months ended September 30, 2012. The maximum amount of outstanding short-term loans at any time for the Company during the nine months ended September 30, 2011 was $104.0 million.  The average daily balance of short-term loans outstanding for the Company during the nine months ended September 30, 2011 was approximately $7.3 million at a weighted average annual interest rate of 1.81%.