43 Caribbean Utilities Company, Ltd.  2011  Annual Report Notes to Financial Statements (Expressed in thousands of United States dollars) 9.  Intangible Assets 10. Short-Term Financing Intangible Assets ($ thousands) Cost  Accumulated  Net Book Value  Amortization  December 31, 2011 Deferred licence renewal costs  1,890  344  1,546 Computer software  4,263  3,354  909 Other intangible assets in progress  364  -  364 Total  6,517  3,698  2,819  Cost  Accumulated  Net Book Value  Amortization  December 31, 2010 Deferred licence renewal costs  1,890  250  1,640 Computer software  3,857  3,139  718 Other intangible assets in progress  237  -  237 Total  5,984  3,389  2,595  Short-Term Financing ($ thousands) Credit Facilities  Total Credit  Total Utilised  Total Available  Financing Facilities  December 31, 2011  December 31, 2011 Corporate credit card line *  400  400  - Letters of credit  **6,095  6,095  - - 1% per annum Operating, revolving line of credit  7,500  1,059  6,441 - Prime plus 0.5% per annum Catastrophe standby loan  7,500  -  7,500 - Libor plus 1.5% per annum Demand loan facility - interim funding of capital expenditures  17,000  6,000  11,000 - Libor plus 1.5% per annum Total  38,495  13,554  24,941 Deferred licence renewal costs relate to negotiations with the Government for licences for the Company. Amortization of deferred licence renewal costs commenced upon conclusion of licence negotiations in April 2008 and extends over the life of the Licences. The Royal Bank of Canada (“RBC”) credit facility agreement provides for $38.5 million and the total available was $24.9 million at December 31, 2011 ($15.0 million at December 31, 2010). In November 2011 the Company executed a new credit facility agreement due to the restructuring of the RBC group. The only significant change to the agreement relates to the named lender, now both RBC Royal Bank (Bahamas) Limited and RBC Royal Bank (Cayman) Limited, with RBC Royal Bank (Cayman) Limited named as agent.  *  Included in Accounts payable and accrued expenses. ** Letters of Credit include those provided to the rental generation supplier of $5.5 million. These will be removed upon completion of the rental contracts.