Company: CIO
Filing Date: 2025-08-15
Form Type: DEFA14A
Source: 0001193125-25-181889
Chunk: 160

Company: City Office REIT, Inc.
Filing Date: 2025-08-15
Form: DEFA14A
Chunk 160
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ated Tangible Net Worth as of the Closing Date (as set forth in the Compliance Certificate delivered by the Borrower as of the Closing Date and approved by the Agent), plus (ii) an amount equal to7580 % of the net proceeds from any issuance of common or preferred Equity Interests in REIT Guarantor or Borrower following the Closing Date, plus (iii) an amount equal to7580% of the equity in any Real Estate contributed to the REIT Guarantor or Borrower following the Closing Date, minus (iv) the aggregate amount paid by the REIT

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Guarantor with respect to buybacks of shares of the REIT Guarantor’s Equity Interests made in accordance with §8.7 since the Closing Date, in a maximum aggregate amount not to exceed
$40,000,000.00.

§18.5 Maximum Secured Debt RatioIntentionally Omitted.The Secured Debt Ratio shall not exceed forty percent (40%);providedthat, if the Secured Debt Ratio is greater than the percentage set forth above during any applicable period, then the Borrower and REIT Guarantor shall be deemed to be in compliance with this §9.5 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 the applicable percentage set forth above 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 does not exceed 45% at any time.

.

§18.6 Maximum Secured Recourse Debt
Ratio. The Secured Recourse Debt Ratio (excluding, for the purposes of this covenant, Secured Recourse Debt in connection with Hedging Obligations) shall not exceed ten percent (10%) of Total Asset Value.

§18.7 Intentionally Omitted.

§18.8 Payout Ratio. The Payout Ratio shall not exceed ninety five percent (95%) at any time,
plus any incremental distributions required to maintain REIT Guarantor’s status as a real estate investment trust, eliminate any U.S. federal income tax and avoid imposition of any excise tax on undistributed income in connection with such
status.

§18.9 Pool Covenants. The Borrower and REIT Guarantor shall comply with the following
covenants:

(a) . The Pool Leverage Ratio shall not exceed sixty percent
(60%) at any time;