Company: CIO
Filing Date: 2025-08-15
Form Type: DEFA14A
Source: 0001193125-25-181889
Chunk: 159

Company: City Office REIT, Inc.
Filing Date: 2025-08-15
Form: DEFA14A
Chunk 159
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izational Documents. The Borrower shall not amend or modify, or permit the amendment or
modification of, the limited liability company agreements or other formation or organizational documents of any Transaction Party or general partner thereof in a manner adverse to the Lenders, without the prior written consent of Agent (such consent
not to be unreasonably withheld, conditioned, or delayed). Without limiting the foregoing, any amendment to the provisions of any Preferred Securities of any Credit Party, or to the rights or powers of the holders of the Preferred Securities shall
be a material amendment requiring the consent of Agent.

§18. FINANCIAL COVENANTS. The Borrower and REIT Guarantor covenant and
agree that, so long as any Loan or Note is outstanding or any Lender has any obligation to make any Loans or issue Letters of Credit, the Borrower and the REIT Guarantor, as applicable, shall comply with the following covenants. The Borrower’s
and the REIT Guarantor’s compliance with the following covenants shall be tested quarterly, as of the close of each fiscal quarter.

§18.1 Maximum Leverage Ratio. The Consolidated Leverage Ratio shall not exceed sixty percent (60%);
that, if the Consolidated Leverage Ratio is greater than 60% during any applicable period, then the Borrower and REIT Guarantor shall be deemed to be in compliance with this §9.1 so long as (a) the Borrower completed a Material Acquisition
during the quarter in which such ratio first exceeded the applicable forgoing percentage, (b) such ratio does not exceed 60% for a period of more than four consecutive fiscal quarters immediately following the fiscal quarter in which such
Material Acquisition was completed, and (c) such ratio is not greater than sixty five percent (65%) at any time.

§18.2 Minimum Liquidity. The REIT Guarantor’s Liquidity shall not be less than $10,000,000;
that the REIT Guarantor shall maintain Unrestricted Cash and Cash Equivalents of not less than $5,000,000 at all times.

§18.3 Minimum Fixed Charge Coverage Ratio. The REIT Guarantor’s Fixed Charge Ratio shall not be less than 1.50
to 1.0.

§18.4 Minimum Tangible Net Worth. Consolidated Tangible Net Worth of the REIT Guarantor and its
respective Subsidiaries shall not be less than the sum of
(i)
7580% of the Consolid