7. Commitments and Contingencies Financing Agreements In 2011, we entered into a facility agreement with a third party pursuant to which we issued 8.5 % promissory notes in the aggregate principal amount of $ 20.0 million. In connection with the facility agreement, we issued the lender six-year warrants to purchase 1,090,910 shares of our common stock at an exercise price, after adjustment, of $ 6.88 per share (See Note 9, Warrant Liability for further discussion). We also entered into a royalty agreement with the lender in exchange for $ 3.0 million (see Note 8, Royalty Liability for further discussion), as well as an option to repurchase the royalty right for $ 40 million. On February 6, 2013, the facility agreement was amended to provide that the exercise price of the warrants could be satisfied through a reduction in the principal amount of our outstanding indebtedness to the holder. In February and March 2013, all of such warrants were exercised, resulting in a reduction of our outstanding indebtedness of $ 7.5 million and, accordingly, cancellation of our obligation to make the 2014, 2015 and 2016 installment payments under the facility agreement. This resulted in a gain of $ 1.9 million which was recorded in Other Income (Expense). On April 1, 2013, we made the final principal payment of $ 2.5 million under the facility agreement. Lease Commitments We lease facilities under operating leases that expire at various dates through June 2016. Rent expense was $ 211,000 , $ 209,000 , and $ 210,000 for years ended December 31, 2015, 2014, and 2013, respectively. The following is a schedule of future minimum lease payments at December 31, 2015 (in thousands): 2016 $ 106 2017 and thereafter ? $ 106 Legal Proceedings There are no ongoing legal proceedings against our company.