Company: CIO
Filing Date: 2025-08-22
Form Type: PREM14A
Source: 0001193125-25-186443
Chunk: 241

Company: City Office REIT, Inc.
Filing Date: 2025-08-22
Form: PREM14A
Chunk 241
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IT Qualification Opinion. The Company shall have delivered to Parent a written tax opinion of DLA Piper LLP (US) (or such other
nationally recognized REIT counsel as may be reasonably acceptable to Parent and the Company), substantially in the form attached as to this Agreement (or as otherwise reasonably acceptable to Parent), dated as of the Closing Date,
to the effect that, beginning with its taxable year ended December 31, 2014 and ending with its taxable year that ends with the Merger, the Company has been organized and operated in conformity with the requirements for qualification and
taxation as a REIT under the

A-51

Code (which opinion shall be based upon a representation letter substantially in the form attached as to this Agreement).

(f) No Waivers or Defaults. No event of default that is either (i) incapable of being cured or (ii) capable of being curable
but still continuing, shall have occurred and be continuing as of 30 days following notification to the Company of such event of default (the “”), in either instance, under any of the Specified Loan Documents;
, that solely in connection with the foregoing clause (ii), if at the end of the Cure Period the Company is continuing to use good faith efforts to cure such event of default, the Cure Period shall be extended for an additional 30
days.

(g) Phoenix Transaction. At or prior to the Closing, (i) the sales of each of the Company Properties set forth
Section 6.2(g)(i) of the Company Disclosure Letter shall have been consummated and (ii) the consent as to the Company Property identified on Section 6.2(g)(ii) of the Company Disclosure Letter shall have been obtained, in each case,
pursuant to and in accordance with the Phoenix PSA.

Section 6.3 . The obligations
of the Company to effect the Merger is also subject to the satisfaction, or waiver by the Company, at or prior to the Closing of the following conditions:

(a) Representations and Warranties. Each of the representations and warranties of the Parent Parties set forth in this Agreement that
are qualified as to materiality or Parent MAE shall be true and correct (as so qualified) and each of the representations and warranties of the Parent Parties set forth in this Agreement that are not so qualified shall be true and correct in all
material respects, in each case as of the date of this Agreement and as of the Closing Date as if made as of the Closing