Company: CIO
Filing Date: 2025-08-15
Form Type: DEFA14A
Source: 0001193125-25-181889
Chunk: 8

Company: City Office REIT, Inc.
Filing Date: 2025-08-15
Form: DEFA14A
Chunk 8
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(c) This Amendment has been duly authorized, executed and delivered by each Credit Party so as to constitute
the legal, valid and binding obligations of each such Credit Party, enforceable in accordance with its terms, except as the same may be limited by insolvency, bankruptcy, reorganization or other laws relating to or affecting the enforcement of
creditors’ rights or by general equitable principles.

§3. . This Amendment shall not
be effective until each of the following conditions precedent has been satisfied to the satisfaction of, or waived in accordance with of the Credit Agreement by, the Agent and Required Lenders (with the date, if any on which such
conditions have been satisfied or waived being referred to herein as, the “Effective Date”):

(a)
The Agent shall have received:

(i) a fully executed copy of this Amendment duly executed and
delivered by each Credit Party, the Agent, and the Lenders;

(ii) a fully executed copy of each of the
pledges described in the Credit Agreement attached hereto as Annex A (x) by Borrower of Equity Interests in the various Subsidiaries of Borrower that own Pool Properties (which Equity Interests shall not be certificated), (y) by Borrower
of net proceeds of all asset sales and refinancings of any Real Estate owned by Subsidiaries of Borrower which are not a Subsidiary Guarantors; and (z) by Borrower of the Reserve Collateral Account; provided, however, with request to the pledge
of Equity Interests, such pledge shall include a requirement that Agent provide at least thirty (30) days advance written notice to Borrower prior to exercising any rights to the Equity Interests pledged thereunder and, provided further, that
no such pledge shall be required if it will violate the terms of any secured Indebtedness on any non-Pool Property;

(iii) evidence satisfactory to it that all action on the part of the Credit Parties necessary for the valid execution,
delivery and performance by the Credit Parties of this Amendment and the other Loan Documents being delivered herewith shall have been duly and effectively taken;

(iv) a favorable legal opinion of counsel to the Credit Parties, reasonably acceptable to the Agent with
respect to the Security Documents; and

(v) fully executed copies of each other document to be
delivered to the Agent set forth on that certain closing agenda last revised July 21, 2025, a copy of which is attached hereto as Annex H, each in