AMENDED AND RESTATED REVOLVING NOTE AGREEMENTS (increasing credit line to $185 million)Essex Property Trust Inc • November 14th, 2003 • Real estate investment trusts • California
Interest shall accrue on amounts outstanding hereunder in accordance with that certain Second Amended and Restated Revolving Credit Agreement dated as of May 15, 2002 (as amended from time to time, the "Agreement"), among Borrower, the financial institutions party thereto (collectively, the "Lenders"), and Bank of America, N.A., as Administrative Agent for the Lenders (capitalized terms used and not defined herein shall have the meanings given to them in the Agreement). Pursuant thereto, interest shall accrue on amounts outstanding hereunder from time to time: (a) at a fluctuating per annum rate equal to the Reference Rate plus the Applicable Margin, or (b) at Borrower's option, subject to the Terms of the Agreement, at a per annum rate equal to the LIBOR Rate plus the Applicable Margin. A change in the interest rate for Reference Rate Loans shall take effect on the day specified in the public announcement of the change in the Reference Rate. Interest shall be computed on the basis of
meanings given to them in the Agreement). Pursuant thereto, interest shall accrue on amounts outstanding hereunder from time to time: (a) at a fluctuating per annum rate equal to the Reference Rate plus the Applicable Margin, or (b) at Borrower's...Essex Property Trust Inc • November 14th, 2003 • Real estate investment trusts • California
This Note is one of the Notes referred to in the Agreement, and is issued in conjunction with, is entitled to all of the rights, benefits and privileges provided in, the Agreement, as now existing or as the same may from time to time be supplemented, modified or amended. The Agreement, among other things, provides that amounts outstanding hereunder from time to time may be repaid pursuant to the Agreement and reborrowed from time to time pursuant to the Agreement, and contains provisions for acceleration of the maturity hereof upon the happening of certain stated events.
