COMMITMENTS AND CONTINGENCIES The Company leases office facilities and office equipment under various non-cancelable operating leases. The leases contain various renewal options. Rent expense for the years ended December 31, 2012 , 2013 and 2014 was approximately $16.7 million , $18.3 million and $19.2 million , respectively. Future minimum lease payments as of December 31, 2014 are as follows (in thousands): 2015 $ 19,442 2016 18,783 2017 18,607 2018 17,680 2019 15,907 2020 and thereafter 75,878 Total future minimum lease payments $ 166,297 On April 1, 2014, the Company entered into the 2014 Credit Agreement. The 2014 Credit Agreement provides for a $400.0 million term loan facility and a $225.0 million revolving credit facility, each with a term of five years . See Note 9 for additional information regarding the term loan facility and revolving credit facility. 11. COMMITMENTS AND CONTINGENCIES   (CONTINUED) In May 2011, LoopNet, the Board of Directors of LoopNet ( the LoopNet Board ) and/or the Company were named as defendants in three purported class action lawsuits brought by alleged LoopNet stockholders challenging LoopNet's then-proposed merger with the Company. The stockholder actions alleged, among other things, that (i) each member of the LoopNet Board breached his fiduciary duties to LoopNet and its stockholders in authorizing the sale of LoopNet to the Company, (ii) the merger did not maximize value to LoopNet stockholders, (iii) LoopNet and the Company made incomplete or materially misleading disclosures about the transaction and (iv) LoopNet and the Company aided and abetted the breaches of fiduciary duty allegedly committed by the members of the LoopNet Board. The stockholder actions sought class action certification and equitable relief, including an injunction against consummation of the merger. The parties stipulated to the consolidation of the actions, and permitted the filing of a consolidated complaint. In June 2011, counsel for the parties entered into a memorandum of understanding in which