Company: CIO
Filing Date: 2025-07-24
Form Type: DEFA14A
Source: 0001193125-25-163769
Chunk: 159

Company: City Office REIT, Inc.
Filing Date: 2025-07-24
Form: DEFA14A
Chunk 159
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 (whether one or more, the “Successor Block 23 Ground Lessee”). The designated Successor Block 23 Ground Lessee shall be either Buyer or an Affiliate of Buyer. If Buyer
fails, for any reason, to timely designate the entity that will be the Successor Block 23 Ground Lessee as provided in the first sentence of this paragraph above, then it shall be conclusively presumed that Buyer shall be the entity that will be the
Successor Block 23 Ground Lessee. Buyer acknowledges that the process of obtaining necessary approvals related to this transaction will not commence until such designation has been made, and that once the designation of the Successor Block 23 Ground
Lessee has been made, it cannot be changed. With respect to the preparation, execution, and delivery of the Block 23 Assignment, the term “Buyer” as used in this Agreement shall mean and refer to either the Buyer or the Successor Block 23
Ground Lessee, as the context may require.

(xviii)

On or prior to the date that is thirty (30) days following the Effective Date, Seller
shall submit to the City for initial review the form of the Block 23 Assignment, the Block 23 Estoppel, and the deed of trust (and any other documents required by Buyer’s lender), if any, in the form provided by Buyer relating to the Block 23
Property. Each of Seller and Buyer agrees to promptly respond to any requests by the City for changes or revisions to the Block 23 Assignment, Block 23 Estoppel, and such deed of trust (if any), to the extent such changes or revisions are
commercially reasonable. Within three (3) business days following Seller’s notification to Buyer that the Block 23 Assignment, Block 23 Estoppel, and such deed of trust (if any) are in form acceptable to the City, Buyer shall execute and
acknowledge four (4) originals of the Block 23 Assignment and deed of trust, and deliver the executed originals of the Block 23 Assignment and deed of trust (if any) to Seller. Within three (3) business days following the expiration of the
Property Approval Period, Seller shall execute four (4) originals of the Block 23 Assignment and deliver the executed originals of such document together with the Block 23 Estoppel to the City for approval and execution. Seller shall exert
commercially reasonable efforts to obtain the Block 23 Ground Lease Assignment Approvals; provided, however, that Buyer understands and acknowledges that