Company: CIO
Filing Date: 2025-07-24
Form Type: DEFA14A
Source: 0001193125-25-163769
Chunk: 176

Company: City Office REIT, Inc.
Filing Date: 2025-07-24
Form: DEFA14A
Chunk 176
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 however, that receipt of such Third-Party Consents, or any of
them, is not (and shall not be) a condition to either party’s obligations under this Agreement, including, without limitation, the obligations of the parties to proceed to Closing in accordance with the terms and conditions of this Agreement.
If any one or more Third-Party Consents has not been obtained at or prior to Closing, then the underlying agreement for which such Third-Party Consent has not been obtained will not be assigned at Closing and following Closing (a) Block 23
Seller shall continue to exert commercially reasonable efforts to obtain such outstanding Third-Party Consent(s) and upon receipt thereof, if at all, Block 23 Seller and Buyer shall each promptly execute and deliver to the other an Assignment of
Contracts with respect to the agreement to which such Third-Party Consent relates, (b) any payments received by Block 23 Seller with respect to the City Payment Sharing Agreement, Marketing Agreement, or Marketing Revenue Sharing Agreement for
which a Third-Party Consent remains outstanding shall be received and held by Block 23 Seller in trust for the sole benefit of Buyer and shall be promptly remitted to Buyer pursuant to its written payment instructions delivered to Block 23 Seller
(the “Block 23 Payment Obligation”), (c) Seller shall indemnify, defend, and hold harmless Buyer for, from, and against any and all lost marketing and tax reimbursement revenues and income arising out of or resulting from Block 23
Seller’s failure to obtain a Third-Party Consent or failure to pay any amounts owed to Buyer pursuant to this , in each case, solely to the extent such revenue or income is actually received by Block 23
Seller (the “Block 23 Indemnity”), and (d) upon receipt of the final outstanding Third-Party Consent, Block 23 Seller’s execution and delivery of an Assignment of Contracts with respect to the agreement to which such
Third-Party Consent relates, and Block 23 Seller’s payment to Buyer of any remaining amounts held by Block 23 Seller pursuant to subpart (b) above, all obligations and liabilities of Block 23 Seller under this
shall automatically and without further action terminate. The provisions of this shall survive the Closing until terminated in accordance with the immediately preceding
sentence.

10. . Buyer acknowledges, by its initials as set forth
below, that the provisions of this have been required by Seller as a material inducement to enter into the contemplated transactions, and the intent and effect of such provisions