Company: CIO
Filing Date: 2025-08-15
Form Type: DEFA14A
Source: 0001193125-25-181889
Chunk: 151

Company: City Office REIT, Inc.
Filing Date: 2025-08-15
Form: DEFA14A
Chunk 151
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eto, any and all construction and development related thereto;

(viii) Investments by Borrower (directly or indirectly) in Subsidiaries of Borrower;

(ix) Investments which constitute Indebtedness to the extent such Indebtedness is permitted pursuant to
§8.1;

(x) Investments in preferred equity (including preferred limited partnership interests) in
entities owning income producing office and life sciences properties;

(xi) Investments in income producing
office and life sciences properties including the acquisition of entities (or interest therein) that are either publicly traded or privately held that own, manage, develop or construct commercial real estate including without limitation REITs and
other real estate related entities such as private real estate funds, real estate management companies, real estate development companies and debt funds, acquisition of real estate preferred securities or preferred equity investments and other
equity interests, including common stock in companies related directly or indirectly to real estate; and

(xii) real estate debt of any kind or nature whatsoever, either directly or indirectly, including but not
limited to origination of and participation in commercial real estate loans, mortgage notes, collateralized mortgage notes, collateralized mortgage back securities and collateralized debt obligations (including any subordinated promissory notes
secured by real estate), and mezzanine loans.

87

(b) The Borrower shall not permit Investments in
(i) unimproved land, (ii) “ground up” construction and “ground up” development projects,(provided that the City Center Property will be excluded from the determination of “ground up” construction projects provided that Borrower contributes no more than $7,500,000.00 in cash equity to the City Center Property on an emergency basis only after the Closing Date, it being understood that Borrower will contribute the land at the City Center Property as its equity contribution in such project), (iii) Real Estate consisting of mortgage loans, and (iv) non-wholly owned direct and indirect Subsidiaries and non-Wholly Owned Affiliates, by the Credit Parties or their Subsidiaries to be outstanding at any one time in excess of twenty-five percent (25%) of Total Asset Value in the aggregate.

For the purposes of this §8.3, the Investment of Borrower or Subsidiary thereof in any non-Wholly Owned Affiliate will
equal (without duplication) the sum of (i) such Person’s pro rata share of their non-Wholly Owned subsidiary’s Investment or rata share of value