Company: CIO
Filing Date: 2025-08-15
Form Type: DEFA14A
Source: 0001193125-25-181889
Chunk: 181

Company: City Office REIT, Inc.
Filing Date: 2025-08-15
Form: DEFA14A
Chunk 181
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Lender and Swing Loan Lender. If the resigning or removed Agent shall also resign as the Issuing Lender, such successor Agent shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession
or shall make other arrangements satisfactory to the current Issuing Lender, in either case, to assume effectively the obligations of the current Agent with respect to such Letters of Credit. Upon any change in the Agent under this Agreement, the
resigning or removed Agent shall execute such assignments of and amendments to the Loan Documents as may be necessary to substitute the successor Agent for the resigning or removed Agent.

§23.10 Duties in the Case of Enforcement. In case one or more Events of Default have occurred and shall be
continuing, and whether or not acceleration of the Obligations shall have occurred, the Agent may and, if (a) so requested by the Majority Lenders and (b) the Lenders have provided to the Agent such additional indemnities and assurances in
accordance with their respective Applicable Percentages against expenses and liabilities as the Agent may reasonably request, shall proceed to exercise all or any legal and equitable and other rights or remedies as it may have; ,
, that unless and until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall
deem to be in the best interests of the Lenders. Without limiting the generality of the foregoing, if Agent reasonably determines payment is in the best interest of all the Lenders, Agent may without the approval of the Lenders pay taxes and
insurance premiums and spend money for maintenance, repairs or other expenses which may be necessary to be incurred, and Agent shall promptly thereafter notify the Lenders of such action; that the Agent shall obtain the prior
approval of the Majority Lenders if such payments for amounts other than taxes and insurance shall exceed $100,000 in any twelve (12) month period. Each Lender shall, within thirty (30) days of request therefor, pay to the Agent its
Applicable Percentage of the

105

reasonable costs incurred by the Agent in taking any such actions hereunder to the extent that such costs shall not be promptly reimbursed to the Agent by the Borrower or out of the Collateralwithin such period with respect to the Pool Properties. The Majority Lenders may direct the Agent