Agree can still borrow from the line until the new date. After Nov. 5, until the credit facility matures in August 2006, the company cannot borrow from the facility. Payments must be made on a quarterly basis. Agree officials said they're negotiating with the bank to further extend the termination date, the maturity date and other terms of the credit facility.
The company owns, manages and develops single tenant retail properties and community shopping centers. Agree owns and operates a portfolio of 49 properties containing about 3.7 million-sf in 13 states.
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