Annual report pursuant to Section 13 and 15(d)

DERIVATIVE INSTRUMENTS

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DERIVATIVE INSTRUMENTS
12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS
During 2011, the Company entered into two interest rate swap agreements calling for the Company to pay fixed interest rates of 1.29% and 1.76% on an aggregate notional value equal to the balance of its promissory notes (see Note 8) and receive a variable interest rate based on the London Interbank Offered Rate (“LIBOR”) on these notional values. The interest rate swaps matured in December 2015 and were not renewed. The Company recognized gains of less than $0.1 million on these derivative instruments for the year ended December 31, 2015, which are included in derivative losses, net on its consolidated statements of operations.