Company: CIO
Filing Date: 2025-08-15
Form Type: DEFA14A
Source: 0001193125-25-181889
Chunk: 17

Company: City Office REIT, Inc.
Filing Date: 2025-08-15
Form: DEFA14A
Chunk 17
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     | 0.950%    |     | 0.000%         |
| BBB/Baa2  |     | 0.850%                |     | 0.200%       |     | 0.000%                |     | 1.100%    |     | 0.100%         |
| BBB-/Baa3 |     | 1.050%                |     | 0.250%       |     | 0.050%                |     | 1.350%    |     | 0.350%         |
| < BBB-    
 /Baa3     |     | 1.400%                |     | 0.300%       |     | 0.400%                |     | 1.750%    |     | 0.750%         |

During any period for which the Borrower or REIT has received three Debt Ratings which are not equivalent, the Applicable Margin will be determined by (a) the highest Debt Rating if they differ by only one level and (b) the average of the two highest Debt Ratings if they differ by two or more levels (unless the average is not a recognized level, in which case the Applicable Margin will be based on the level corresponding to the second highest Debt Rating). During any period for which the Borrower or REIT has received only two Debt Ratings and such Debt Ratings are not equivalent, the Applicable Margin will be determined by (i) the highest Debt Rating if they differ by only one level and (ii) the median of the two Debt Ratings if they differ by two or more levels (unless the median is not a recognized level, in which case the Applicable Margin will be based on the Debt Rating one level below the level corresponding to the higher Debt Rating). During any period for which the Borrower or REIT has received a Debt Rating from only one rating agency, the Applicable Margin shall be determined based on such Debt Rating so long as such Debt Rating is from either S&P or Moody’s. During any period for which the Borrower or REIT does not have a Debt Rating from any rating agency, or during any other period not otherwise covered by this definition, the Applicable Margin shall be determined based on the pricing level corresponding to a Debt Rating of “< BBB-/ Baa3” on the table above. (c) At all times, for each 2026 Term SOFR Loan, 2.00%, and for