NOTICE TO EXTEND
Exhibit 10.1
NOTICE TO EXTEND
August 16, 2010
Via Email and Federal Express Overnight
Xx. Xxxx X. Xxxxxxxx
Senior Vice President
Bank of America
0 Xxxxxxxx Xxxxxx
Stamford, CT 06901
Re:
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Second Amended and Restated Revolving Loan Agreement, as amended, dated November 14, 2006 (the “Agreement”) among AvalonBay Communities, Inc. (“AvalonBay” or “Company”), and XX Xxxxxx Xxxxx, Bank of America, Xxxxxx Xxxxxxx, Xxxxx Fargo, DeutscheBank and other Banks
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Dear Xxxx,
As provided for in Agreement, AvalonBay is providing notice of its intent to exercise the Extension Option provision set forth in Section 2.18 of the Agreement. The Company is electing to extend the original maturity date of the Agreement by one (1) year. The extension fee of 0.10% or $1,000,000 has been submitted via wire transfer pursuant to the following wire instructions received via email from Xxxx Xxxxxx.
Bank of America
Acct Name: GA Incoming Wire Acct
Ref: AvalonBay
Attn: Xxx Xxxx Xxx
Please let me know if you are unable to confirm receipt of the funds. If you have any questions or concerns, please do not hesitate to contact me directly.
Best regards,
/s/ Xxxxxx X. Xxxxxxxxx
Xxxxxx X. Xxxxxxxxx
Senior Vice President, Finance
JML/cjs
cc: Xxxx Xxxxxx
Xxxxxx Xxxxx
Xxx Xxxx Xxx