Company: VRE
Filing Date: 2025-07-10
Form Type: 8-K
Source: 0001104659-25-066915
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Company: Veris Residential, Inc.
Filing Date: 2025-07-10
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry Into a Material Definitive Agreement.

On July 9, 2025, Veris Residential, L. P. (the
“ Operating Partnership”), a Delaware limited partnership and the operating partnership through which Veris Residential, Inc.,
a Maryland corporation (the “ General Partner,” and collectively with the Operating Partnership, the “ Company”)
conducts substantially all its business, entered into an amendment dated July 9, 2025 (the “ Amendment”) to the Company’s
revolving credit and term loan agreement dated as of April 22, 2024 (the “2024 Credit Agreement”) by and among the Operating
Partnership, as borrower, JPMorgan Chase Bank, N. A., as Administrative Agent, The Bank of New York Mellon, as Syndication Agent, Bank
of America, N. A., Capital One, National Association, Goldman Sachs Bank USA and Royal Bank of Canada, as documentation agents, J. P. Morgan
Securities, LLC, as Sustainability Structuring Agent, JPMorgan Chase Bank, N. A. and The Bank of New York Mellon as Joint Bookrunners and
Joint Lead Arrangers, and BOFA Securities, Inc., Capital One, National Association, Goldman Sachs Bank USA and RBC Capital Markets,
as Joint Lead Arrangers, and the other financial institutions party thereto (collectively, the “ Lenders”). The 2024 Credit
Agreement provides for a $300 million senior secured revolving credit facility (the "2024 Revolving Credit Facility") and a
$200 million senior secured term loan facility (the "2024 Term Loan").

Prior to the Amendment, the Operating Partnership’s
obligations under the 2024 Credit Agreement were required to be secured by a first priority lien on no fewer than five (5) of the
Operating Partnership’s properties with an aggregate appraised value of at least $900 million and currently consisting of: (i) The
James; (ii) 145 Front Street at City Square; (iii) Signature Place; (iv) Soho Lofts; and (v) Liberty Towers (collectively,
the “ Collateral Pool Properties”). Also prior to the Amendment, interest on borrowings under the 2024 Revolving Credit Facility
and the 2024 Term Loan was based on an applicable interest rate (the “ Interest Rate”) plus a margin ranging from 100 basis
points to 200 basis points (the “ Applicable Rate”) depending on