Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

 v2.3.0.11
SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2011
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS
NOTE 16     SUBSEQUENT EVENTS
 

On August 8, 2011, the Company and Macquarie Bank Limited (“Macquarie”) entered into a Second Amended and Restated Credit Agreement (the “Restated Credit Agreement”) governing the Company's revolving credit facility with Macquarie.  The facility now provides that the aggregate maximum credit amount may be increased in the future to up to $500 million.  The Restated Credit Agreement provides for an initial borrowing base of $150 million, subject to the aggregate maximum credit amount then in effect.  Initially, the Restated Credit Agreement provides for an aggregate maximum credit amount of $25 million in principal amount of borrowings.  Such aggregate maximum credit amount may be increased, subject to various conditions, in increments of $20 million, but in no event to more than $500 million.  One of the conditions to any such increase would be an additional commitment of such funds by Macquarie or another lender.   Financing available under the facility is equal to the lesser of the aggregate maximum credit amount and the borrowing base.
 
In connection with preparing the unaudited financial statements for the six months ended June 30, 2011, the Company has evaluated subsequent events for potential recognition and disclosure through the date of this filing and determined that there were no subsequent events, except for what has been disclosed above, which required recognition or disclosure in the financial statements.