Exhibit 10.2

 

EXECUTION COPY

 

WAIVER NO. 3 TO THE CREDIT AGREEMENT

 

Dated as of May 21, 2009

 

WAIVER NO. 3 TO THE CREDIT AGREEMENT (this “Waiver”) among Capmark Financial
Group Inc., a Nevada corporation (the “Company”), certain subsidiaries of the
Company (together with the Company, the “Borrowers” and each a “Borrower”), the
financial institutions and other institutional lenders party hereto, and
Citibank, N.A., as administrative agent (the “Agent”) for the Lenders.

 

RECITALS:

 

(1)           THE BORROWERS, THE FINANCIAL INSTITUTIONS AND OTHER INSTITUTIONAL
LENDERS PARTY THERETO (THE “LENDERS”), THE AGENT AND THE OTHER AGENTS PARTY
THERETO HAVE ENTERED INTO THAT CERTAIN CREDIT AGREEMENT, DATED AS OF MARCH 23,
2006, AS AMENDED BY AMENDMENT NO. 1 TO THE CREDIT AGREEMENT, DATED AS OF
APRIL 17, 2007, AMENDMENT NO. 2 TO THE CREDIT AGREEMENT, DATED AS OF JUNE 30,
2008, WAIVER TO THE CREDIT AGREEMENT, DATED AS OF APRIL 20, 2009 AND WAIVER
NO. 2 TO THE CREDIT AGREEMENT, DATED AS OF MAY 8, 2009 (AS FURTHER AMENDED,
RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE “CREDIT
AGREEMENT”).  CAPITALIZED TERMS NOT OTHERWISE DEFINED IN THIS WAIVER HAVE THE
SAME MEANINGS AS SPECIFIED IN THE CREDIT AGREEMENT.

 

(2)           THE BORROWERS HAVE REQUESTED THAT THE LENDERS AGREE TO WAIVE
CERTAIN PROVISIONS OF THE CREDIT AGREEMENT AS SET FORTH HEREIN.

 

(3)           PURSUANT TO SUBSECTION 10.1(A) OF THE CREDIT AGREEMENT, THE
MAJORITY LENDERS MAY, OR, WITH THE WRITTEN CONSENT OF THE MAJORITY LENDERS, THE
AGENT MAY, FROM TIME TO TIME, ENTER INTO WITH THE BORROWERS, WRITTEN AMENDMENTS,
SUPPLEMENTS OR MODIFICATIONS TO THE CREDIT AGREEMENT FOR THE PURPOSE OF WAIVING
ANY PROVISIONS TO THE CREDIT AGREEMENT

 

(4)           THE MAJORITY LENDERS HAVE AGREED, SUBJECT TO THE TERMS AND
CONDITIONS STATED BELOW, TO WAIVE THE CREDIT AGREEMENT AS SET FORTH HEREIN.

 

SECTION 1.           WAIVER TO CREDIT AGREEMENT

 

(a)           Subject to the satisfaction of the conditions precedent set forth
in Section 2, the Agent and the Majority Lenders hereby waive, solely for the
period commencing on the date hereof through May 29, 2009 at 5:00 p.m. EDT (the
“Waiver Termination Date”), the Event of Default arising directly from the
Company’s failure to maintain, pursuant to Section 6.1 of the Credit Agreement,
the Total Consolidated Indebtedness at the last day of each of the fiscal
quarters ended December 31, 2008 and March 31, 2009 to Total Capitalization at
such dates at a ratio not greater than 0.87 to 1.0, in each case without giving
effect to ARB51, FIN 46(R) or FAS 66 in each case in relation to the Company’s
affordable tax credit syndication business (the “Financial Covenant
Non-Compliance Event of Default”).

 

(b)           Until the Waiver Termination Date, the Majority Lenders hereby
agree to forbear (and instruct the Agent to forbear) from exercising any right
or remedy under the Credit Agreement as a result of the occurrence and
continuance of the Event of Default arising from the Financial Covenant
Non-Compliance Event of Default.

 

(c)           On the Waiver Termination Date, without any further action by the
Agent and the Majority Lenders, all of the terms and provisions set forth in the
Credit Agreement with respect to any Event of Default thereunder that is waived
hereunder and not cured prior to the Waiver Termination Date

 

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shall have the same force and effect as if this Waiver had not been entered into
by the parties hereto, and the Agent and the Majority Lenders shall have all of
the rights and remedies afforded to them under the Credit Agreement with respect
to any such Event of Default as though no waiver had been granted by them
hereunder.  Notwithstanding anything contained herein to the contrary,
the foregoing waivers are not intended and shall not be deemed or construed to
constitute a waiver of any Default or any other Event of Default that hereafter
may occur under Credit Agreement or to establish a custom or course of dealing
among the Borrowers, the other Loan Parties, the Agent, the Majority Lenders or
any of them.  Except as specifically set forth herein, the Agent and the
Majority Lenders hereby expressly reserve all of their rights and remedies under
the Credit Agreement, the other Loan Agreements and applicable law.

 

(d)           The Borrowers hereby agree to negotiate in good faith with the
Agent and Lenders to finalize by no later than May 29, 2009 the amendments to
the Credit Agreement and to the Bridge Facility and the definitive documentation
for the “Facility” described in the commitment letters dated on or about May 6,
2009 (together with the Term Sheet referred to therein, the “Commitment
Letters”) entered into by certain Lenders and certain lenders under the Bridge
Facility, in each case on substantially the terms and conditions set forth
in the Commitment Letters.

 

SECTION 2.           CONDITIONS OF EFFECTIVENESS

 

THIS WAIVER SHALL BECOME EFFECTIVE AS OF THE DATE FIRST ABOVE WRITTEN WHEN, AND
ONLY WHEN, THE FOLLOWING CONDITIONS HAVE BEEN SATISFIED:

 

(A)           THE AGENT SHALL HAVE RECEIVED COUNTERPARTS OF THIS WAIVER EXECUTED
BY THE COMPANY, THE OTHER BORROWERS, THE MAJORITY LENDERS, AND/OR, AS TO ANY
SUCH MAJORITY LENDER, ADVICE SATISFACTORY TO THE AGENT THAT SUCH LENDER HAS
EXECUTED THIS WAIVER;

 

(B)           THE AGENT SHALL HAVE RECEIVED A CERTIFICATE OF THE SECRETARY OR
ASSISTANT SECRETARY OF THE COMPANY, IN FORM AND SUBSTANCE SATISFACTORY TO THE
AGENT, WHICH CERTIFICATE SHALL (I) CERTIFY AS TO THE INCUMBENCY AND SIGNATURE OF
THE OFFICERS OF THE COMPANY EXECUTING THIS WAIVER (WITH THE PRESIDENT, A VICE
PRESIDENT, THE SECRETARY OR ASSISTANT SECRETARY OF THE COMPANY ATTESTING TO THE
INCUMBENCY AND SIGNATURE OF THE SECRETARY OR ASSISTANT SECRETARY PROVIDING SUCH
CERTIFICATE), (II) HAVE ATTACHED TO IT A TRUE AND CORRECT COPY OF THE
RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE COMPANY, WHICH RESOLUTIONS SHALL
AUTHORIZE THE EXECUTION, DELIVERY AND PERFORMANCE OF THIS WAIVER, AND
(III) CERTIFY THAT, AS OF THE DATE OF SUCH CERTIFICATE (WHICH SHALL NOT BE
EARLIER THAN THE DATE HEREOF), NONE OF SUCH RESOLUTIONS SHALL HAVE BEEN AMENDED,
SUPPLEMENTED, MODIFIED, REVOKED OR RESCINDED;

 

(C)           EACH GUARANTOR HAS EXECUTED AND DELIVERED A CONSENT IN THE FORM OF
ANNEX A HERETO;

 

(D)           THE AGENT SHALL HAVE RECEIVED SATISFACTORY EVIDENCE THAT AMENDMENT
NO. 8 AND WAIVER TO THE BRIDGE FACILITY DATED AS OF THE DATE HEREOF SHALL HAVE
BECOME EFFECTIVE; AND

 

(E)           ALL OTHER FEES AND EXPENSES OF THE AGENT AND THE LENDERS
(INCLUDING ALL REASONABLE FEES AND EXPENSES OF COUNSEL TO THE AGENT), TO THE
EXTENT INVOICED PRIOR TO THE DATE HEREOF, SHALL HAVE BEEN PAID.

 

SECTION 3.           CONFIRMATION OF REPRESENTATIONS AND WARRANTIES

 

(A)           EACH OF THE COMPANY AND EACH BORROWER HERETO HEREBY REPRESENTS AND
WARRANTS, ON AND AS OF THE DATE HEREOF, THAT THE REPRESENTATIONS AND WARRANTIES
CONTAINED IN THE CREDIT AGREEMENT (TO THE EXTENT RELATING TO SUCH LOAN PARTY)
ARE TRUE AND CORRECT IN ALL MATERIAL RESPECTS ON AND AS OF THE DATE

 

2

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HEREOF, BEFORE AND AFTER GIVING EFFECT TO THIS WAIVER, AS THOUGH MADE ON AND AS
OF THE DATE HEREOF, OTHER THAN ANY SUCH REPRESENTATIONS OR WARRANTIES THAT, BY
THEIR TERMS, REFER TO A SPECIFIC DATE.

 

SECTION 4.           AFFIRMATION OF THE COMPANY AND THE BORROWERS

 

THE COMPANY AND EACH BORROWER HEREBY CONSENTS TO THE WAIVER TO THE CREDIT
AGREEMENT EFFECTED HEREBY, AND HEREBY CONFIRMS AND AGREES THAT, NOTWITHSTANDING
THE EFFECTIVENESS OF THIS WAIVER, THE OBLIGATIONS OF THE COMPANY AND EACH SUCH
BORROWER CONTAINED IN THE CREDIT AGREEMENT, AS AMENDED HEREBY, OR IN ANY OTHER
LOAN DOCUMENTS TO WHICH IT IS A PARTY ARE, AND SHALL REMAIN, IN FULL FORCE AND
EFFECT AND ARE HEREBY RATIFIED AND CONFIRMED IN ALL RESPECTS.

 

SECTION 5.           REFERENCE TO AND EFFECT ON THE LOAN DOCUMENTS

 

(a)           On and after the effectiveness of this Waiver, each reference in
the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like
import referring to the Credit Agreement and each reference in the Notes and
each of the other Loan Documents to “the Credit Agreement”, “thereunder”,
“thereof” or words of like import referring to the Credit Agreement shall mean
and be a reference to the Credit Agreement as modified by this Waiver.

 

(B)           THE CREDIT AGREEMENT, THE NOTES AND EACH OF THE OTHER LOAN
DOCUMENTS, AS SPECIFICALLY MODIFIED BY THIS WAIVER, ARE AND SHALL CONTINUE TO BE
IN FULL FORCE AND EFFECT AND ARE HEREBY IN ALL RESPECTS RATIFIED AND CONFIRMED.

 

(C)           THE EXECUTION, DELIVERY AND EFFECTIVENESS OF THIS WAIVER SHALL
NOT, EXCEPT AS EXPRESSLY PROVIDED HEREIN, OPERATE AS A WAIVER OF ANY RIGHT,
POWER OR REMEDY OF ANY LENDER OR THE AGENT UNDER THE CREDIT AGREEMENT OR ANY
OTHER LOAN DOCUMENT, NOR CONSTITUTE A WAIVER OF ANY PROVISION OF THE CREDIT
AGREEMENT OR ANY OTHER LOAN DOCUMENT.

 

SECTION 6.           COSTS, EXPENSES

 

The Borrowers agree to pay on demand all costs and expenses of the Agent in
connection with the preparation, execution, delivery and administration,
modification and amendment of this Waiver and the other instruments and
documents to be delivered hereunder (including, without limitation, the
reasonable fees and expenses of counsel for the Agent) in accordance with the
terms of subsection 10.5 of the Credit Agreement.

 

SECTION 7.           EXECUTION IN COUNTERPARTS

 

This Waiver may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute but
one and the same agreement.  Delivery of an executed counterpart of a signature
page to this Waiver by telecopier or in “pdf” or similar format by electronic
mail shall be effective as delivery of a manually executed counterpart of this
Waiver.

 

SECTION 8.           GOVERNING LAW

 

This Waiver shall be governed by, and construed in accordance with, the laws of
the State of New York.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be executed by
their respective officers thereunto duly authorized, as of the date first above
written.

 

 

CAPMARK FINANCIAL GROUP INC.,
as the Company

 

 

 

By:

 /s/ Gregory J. McManus

 

 

 Name:

Gregory J. McManus

 

 

 Title:

Executive Vice President

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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CAPMARK CANADA LIMITED,
as a Borrower

 

 

 

By:

 /s/ Michael I. Lipson

 

 

 Name:

Michael I. Lipson

 

 

 Title:

Executive Vice President

 

 

 

CAPMARK BANK EUROPE, PUBLIC
COMPANY,

as a Borrower

 

 

 

By:

 /s/ Martin Thornton

 

 

 Name:

Martin Thornton

 

 

 Title:

Secretary

 

 

 

CAPMARK EI IRELAND LIMITED,

as a Borrower

 

 

 

By:

 /s/ Martin Thornton

 

 

 Name:

Martin Thornton

 

 

 Title:

Secretary

 

 

 

CAPMARK IRELAND LIMITED,

as a Borrower

 

 

 

By:

 /s/ Martin Thornton

 

 

 Name:

Martin Thornton

 

 

 Title:

Secretary

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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CAPMARK AB NO. 2 LIMITED,

as a Borrower

 

 

 

By:

 /s/ Martin Thornton

 

 

 Name:

Martin Thornton

 

 

 Title:

Secretary

 

 

 

CAPMARK FINANCE INC.,

as a Borrower

 

 

 

By:

 /s/ Gregory J. McManus

 

 

 Name:

Gregory J. McManus

 

 

 Title:

Executive Vice President

 

 

 

And Chief Financial Officer

 

 

 

SJM CAP, LLC,

as a Borrower

 

 

 

By:

 /s/ Gregory J. McManus

 

 

 Name:

Gregory J. McManus

 

 

 Title:

President

 

 

 

CAPMARK BANK,

as a Borrower

 

 

 

By:

 /s/ Steven J. Nielsen

 

 

 Name:

Steven J. Nielsen

 

 

 Title:

President

 

 

 

CAPMARK FUNDING JAPAN, K.K.,

as a Borrower

 

 

 

By:

 /s/ Allen Todd Atchley

 

 

 Name:

Allen Todd Atchley

 

 

 Title:

Representative Director

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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CAPMARK JAPAN, K.K.,

as a Borrower

 

 

 

By:

 /s/ Katsuyoshi Dobashi

 

 

 Name:

Katsuyoshi Dobashi

 

 

 Title:

Representative Director

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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CITIBANK, N.A.,

as Administrative Agent

 

 

 

By:

 /s/ Trevor Houston

 

 

 Name:

Trevor Houston

 

 

 Title:

Managing Director

 

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Citibank, N.A.,
as a Majority Lender

 

 

 

By:

 /s/ Trevor Houston

 

 

 Name:

Trevor Houston

 

 

 Title:

Managing Director

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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The Bank of Tokyo-Mitsubishi UFJ, Ltd.,

New York Branch, as a Majority Lender

 

 

 

By:

 /s/ David Noda

 

 

 Name:

David Noda

 

 

 Title:

Vice President and Manager

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Silver Oak Capital, LLC,
as a Majority Lender

 

 

 

 

By:

/s/ Thomas M. Fuller

 

 

Name:

Thomas M. Fuller

 

 

Title:

Authorized Signatory

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Royal Bank of Canada,
as a Majority Lender

 

 

 

 

By:

/s/ Leslie P. Vowell

 

 

Name:

Leslie P. Vowell

 

 

Title:

Attorney-in-Fact

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Lehman Brothers Holdings, Inc.,
as a Majority Lender

 

 

 

 

By:

/s/ Douglas J. Lambert

 

 

Name:

Douglas J. Lambert

 

 

Title:

SVP

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Societe Generale,
as a Majority Lender

 

 

 

By:

/s/ Nigel Elvey

 

 

Name:

Nigel Elvey

 

 

Title:

Vice President

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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CITIC Ka Wah Bank, Ltd. New York Branch,
as a Majority Lender

 

 

 

 

By:

/s/ Peter Zhao

 

 

Name:

Peter Zhao

 

 

Title:

EVP

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Bank of America N.A.,
as a Majority Lender

 

 

 

 

By:

/s/ Scott R. Swenson

 

 

Name:

Scott R. Swenson

 

 

Title:

Vice President

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Merrill Lynch Bank USA,
as a Majority Lender

 

 

 

 

By:

/s/ David Millett

 

 

Name:

David Millett

 

 

Title:

Vice President

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Morgan Stanley Senior Funding Inc.,
as a Majority Lender

 

 

 

 

By:

/s/ S. Yeo

 

 

Name:

S. Yeo

 

 

Title:

Vice President

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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The Bank of Nova Scotia,
as a Majority Lender

 

 

 

 

By:

/s/ Ajit Goswani

 

 

Name:

Ajit Goswani

 

 

Title:

Director

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Credit Suisse Loan Funding LLC,
as a Majority Lender

 

 

 

 

By:

/s/ Francesca Sena

 

 

Name:

Francesca Sena

 

 

Title:

Authorized Signatory

 

 

 

 

By:

/s/ Kenneth Hoffman

 

 

Name:

Kenneth Hoffman

 

 

Title:

Managing Director

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Goldman Sachs Credit Partners L.P.,
as a Majority Lender

 

 

 

By:

/s/ Caroline Benton

 

 

Name:

Caroline Benton

 

 

Title:

Authorized Signatory

 

 

 

CAPMARK Credit Agreement – Waiver No. 3

 

 

Signature Page

 

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National Bank of Egypt (UK) Ltd,
as a Majority Lender

 

 

 

By:

/s/ Margaret Bull

 

 

Name:

Margaret Bull

 

 

Title:

Senior Credit Manager

 

 

 

 

 

 

 

 

 

By:

/s/ Peter Nerurker

 

 

Name:

Peter Nerurker

 

 

Title:

Supervisor Loans Administration

 

 

 

CAPMARK Credit Agreement – Waiver No. 3

 

 

Signature Page

 

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Shinsei Bank Limited,

 

as a Majority Lender

 

 

 

 

By:

/s/ Shinichirou Seto

 

 

Name:

Shinichirou Seto

 

 

Title:

Generale Manager

 

 

 

 

 

 

CAPMARK Credit Agreement – Waiver No. 3

 

 

Signature Page

 

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Goldman Sachs Mortgage Company,
as a Majority Lender

 

 

 

 

By:

/s/ Mark J. Buono

 

 

Name:

Mark J. Buono

 

 

Title:

Vice President

 

 

 

CAPMARK Credit Agreement – Waiver No. 3

 

 

Signature Page

 

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Goldman Sachs Lending Partners LLC,
as a Majority Lender

 

 

 

 

By:

/s/ Caroline Benton

 

 

Name:

Caroline Benton

 

 

Title:

Authorized Signatory

 

 

 

CAPMARK Credit Agreement – Waiver No. 3

 

 

Signature Page

 

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Goldman Sachs Canada Credit Partners Co.,
as a Majority Lender

 

 

 

 

By:

/s/ Caroline Benton

 

 

Name:

Caroline Benton

 

 

Title:

Authorized Signatory

 

 

 

CAPMARK Credit Agreement – Waiver No. 3

 

 

Signature Page

 

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Toronto Dominion (Texas) LLC

 

 

 

By:

/s/ Jackie Barrett

 

 

Name:

Jackie Barrett

 

 

Title:

Authorized Signatory

 

 

 

CAPMARK Credit Agreement – Waiver No. 3

 

 

Signature Page

 

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The Toronto-Dominion Bank,
as a Majority Lender

 

 

 

 

By:

/s/ Jackie Barrett

 

 

Name:

Jackie Barrett

 

 

Title:

Authorized Signatory

 

 

 

CAPMARK Credit Agreement – Waiver No. 3

 

 

Signature Page

 

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CCP Credit Acquisition Holdings, LLC,
as a Majority Lender

 

 

 

 

By:

/s/ Jed Hart

 

 

Name:

Jed Hart

 

 

Title:

Sr. Managing Director

 

 

 

CAPMARK Credit Agreement – Waiver No. 3

 

 

Signature Page

 

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Wachovia Bank, N.A.,
as a Majority Lender

 

 

 

 

By:

/s/ Vanessa N. Rodriguez

 

 

Name:

Vanessa N. Rodriguez

 

 

Title:

Assistant Vice President

 

 

 

CAPMARK Credit Agreement – Waiver No. 3

 

 

Signature Page

 

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JPMorgan,
as a Majority Lender

 

 

 

 

By:

/s/ John J. Coffey

 

 

Name:

John J. Coffey

 

 

Title:

Managing Director

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Deutsche Bank AG, New York,
as a Majority Lender

 

 

 

 

By:

/s/ Emile Van den Bol

 

 

Name:

Emile Van den Bol

 

 

Title:

Managing Director

 

 

 

 

 

 

 

 

 

By:

/s/ R. Chris Jones

 

 

Name:

R. Chris Jones

 

 

Title:

Director

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Sumitomo Mitsui Banking Corporation,
as a Majority Lender

 

 

 

 

By:

/s/ Yoshihiro Hyakutome

 

 

Name:

Yoshihiro Hyakutome

 

 

Title:

General Manager

 

CAPMARK Credit Agreement – Waiver No. 3

Signature Page

 

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Annex A to

Waiver No. 3 to the Credit Agreement

 

Form of Guarantor Consent

 

CONSENT

 

Reference is made to the Credit Agreement, dated as of March 23, 2006, as
amended by Amendment No. 1 to the Credit Agreement, dated as of April 17, 2007, 
Amendment No. 2 to the Credit Agreement, dated as of June 30, 2007, Waiver to
the Credit Agreement, dated as of April 20, 2009, Waiver No. 2 to the Credit
Agreement, dated as of May 8, 2009 and Waiver No. 3 to the Credit Agreement,
dated as of May 21, 2009 among Capmark Financial Group Inc. (the “Company”),
certain subsidiaries of the Company, the financial institutions and other
institutional lenders party thereto, Citibank, N.A., as administrative agent for
the Lenders and the other agents party thereto (such Credit Agreement, as so
amended, the “Credit Agreement”).

 

Each of the undersigned confirms and agrees that notwithstanding the
effectiveness of the foregoing Waiver No. 3 to the Credit Agreement dated as of
May 21, 2009, each Loan Document to which such Person is a party is, and shall
continue to be, in full force and effect and is hereby ratified and confirmed in
all respects, in each case as amended by the Waiver to the Credit Agreement (in
each case, as defined therein).

 

 

COMMERCIAL EQUITY INVESTMENTS, INC.,
as a Guarantor

 

 

 

By:

/s/ Anne E. Kelly

 

 

Name:

Anne E. Kelly

 

 

Title:

Treasurer

 

 

 

 

 

CAPMARK CAPITAL INC.,
as a Guarantor

 

 

 

 

 

By:

/s/ Gregory J. McManus

 

 

Name:

Gregory J. McManus

 

 

Title:

President

 

 

 

 

 

NET LEASE ACQUISITION LLC,
as a Guarantor

 

 

 

 

 

By:

/s/ Gregory J. McManus

 

 

Name:

Gregory J. McManus

 

 

Title:

President

 

CAPMARK Credit Agreement – Waiver No. 3

Guarantor Consent

 

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CAPMARK FINANCE INC.,
as a Guarantor

 

 

 

 

 

By:

/s/ Gregory J. McManus

 

 

Name:

Gregory J. McManus

 

 

Title:

Chief Financial Officer,
Executive Vice President

 

 

 

CAPMARK INVESTMENTS LP,
as a Guarantor

 

 

 

By:

/s/ Keith Kooper

 

 

Name:

Keith Kooper

 

 

Title:

President

 

 

 

MORTGAGE INVESTMENTS, LLC,
as a Guarantor

 

 

 

 

 

By:

/s/ Jay N. Levine

 

 

Name:

Jay N. Levine

 

 

Title:

President

 

 

 

 

 

SJM CAP, LLC,
as a Guarantor

 

 

 

By:

/s/ Gregory J. McManus

 

 

Name:

Gregory J. McManus

 

 

Title:

President

 

 

 

 

 

CRYSTAL BALL HOLDING OF BERMUDA
LIMITED, as a Guarantor

 

 

 

By:

/s/ Peter A. Widmann

 

 

Name:

Peter A. Widmann

 

 

Title:

President

 

CAPMARK Credit Agreement – Waiver No. 3

Guarantor Consent

 

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