Prior to the amendment, the agreement required AmeriVest to repay at least $2.5 million of its secured facility by July 1, and at least $10 million of its secured facility by Sept. 1. The amendment eliminates the July 1 repayment requirement and extends the maturity date of the secured facility from Nov.12, 2005 to Jan. 31, 2006. All other terms of the agreement as amended on March 15, remain unchanged.
The revolving credit agreements are made with AmeriVest Properties Inc., and its related companies, AmeriVest Chateau Inc. and AmeriVest Greenhill Inc., both Texas-based corporations and KeyBank and US Bank "and other lenders which may herafter become a party to the loan agreement," according to SEC documents.
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