<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Wednesday, November 11, 2015 9:12 PM</td></tr><tr><td>To:</td><td>Joe Avantario</td></tr><tr><td>Subject:</td><td>Re: Preliminary 2016 cash flow projections</td></tr></table>

put it on the list please thanks

On Wed, Nov 11, 2015 =t 10:11 PM, Joe Avantario t

ivro=e:

Interest on the art loan was calculat=d at 1.44% based upon current 1 month libor plus 1.25%

If I understand your question, with r=spect to the 1.7b note between LDB and Apo1. Those payments net out in the=global cash flow provided since LDB and APO1 are consolidated into this cash flow view.

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Wednesday, November 11, 2015 4:05 PM

To: Ine Avantario

> Melanie Spinella

Subject: Re: Preliminary 2016 cash flow projections

interest on the 1.7 billion note? . , =AO what rates for the art loan

On Wed, Nov 11, 2015 at 10:01 PM, Joe Avantario <=a href="mai target="_blank

Pleas= see attached. Let me know if I can answer any questions.=/u>

=A0

Thank=you,

Josep= Avantario

please no=e

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please =ote

The information contained in this communication is confiden=ial, may be attorney-client privileged, may constitute inside informati=n, and is intended only for the use of the addressee. It is the propert= of JEE Unauthorized use, disclosure or copying of this communica=ion or any part thereof is strictly prohibited and may be unlawful. If =ou have received this communication in error, please notify us immediat=ly by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail=com> , and destroy this comm=nication and all copies thereof, including all attachments. copyright -=11 rights reserved