Revolving Credit Agreement	6 Months Ended
May 31, 2016
Revolving Credit Agreement
Revolving Credit Agreement	6. Revolving Credit Agreement Griffin has a $12,500 revolving credit line with Webster Bank (the “Webster Credit Line”) that was scheduled to expire on May 1, 2016, but on April 26, 2016, Griffin and Webster Bank entered into an amendment that extended the maturity of the Webster Credit Line to August 1, 2016. On June 21, 2016, Griffin and Webster Bank agreed to terms on a two year extension of the Webster Credit Line. The terms of the extension of the Webster Credit Line increase the amount of the credit line to $15,000 and Griffin has the option to extend the credit line for an additional year provided there is no default at the time such extension is requested. Griffin and Webster Bank have agreed that the interest rate on the Webster Credit Line will remain at the one month LIBOR rate plus 2.75% and the collateral for the Webster Credit Line, Griffin’s properties in Griffin Center South, aggregating approximately 235,000 square feet, and an approximately 48,000 square foot single-story office building in Griffin Center, will remain the same. There have been no borrowings under the Webster Credit Line since its inception, however, the Webster Credit Line does secure certain unused standby letters of credit aggregating $4,117 that are related to Griffin's development activities. There is no guarantee that the extension of the Webster Credit Line will be completed in accordance with the current terms, or at all.

6. Revolving Credit Agreement

Griffin has a $12,500 revolving credit line with Webster Bank (the “Webster Credit Line”) that was scheduled to expire on May 1, 2016, but on April 26, 2016, Griffin and Webster Bank entered into an amendment that extended the maturity of the Webster Credit Line to August 1, 2016. On June 21, 2016, Griffin and Webster Bank agreed to terms on a two year extension of the Webster Credit Line. The terms of the extension of the Webster Credit Line increase the amount of the credit line to $15,000 and Griffin has the option to extend the credit line for an additional year provided there is no default at the time such extension is requested. Griffin and Webster Bank have agreed that the interest rate on the Webster Credit Line will remain at the one month LIBOR rate plus 2.75% and the collateral for the Webster Credit Line, Griffin’s properties in Griffin Center South, aggregating approximately 235,000 square feet, and an approximately 48,000 square foot single-story office building in Griffin Center, will remain the same. There have been no borrowings under the Webster Credit Line since its inception, however, the Webster Credit Line does secure certain unused standby letters of credit aggregating $4,117 that are related to Griffin's development activities. There is no guarantee that the extension of the Webster Credit Line will be completed in accordance with the current terms, or at all.