Exhibit 10.4

 

Conformed Copy

 

2006 AMENDMENT AND
COMMITMENT TRANSFER AGREEMENT

 

2006 AMENDMENT AND COMMITMENT TRANSFER AGREEMENT, dated as of March 13, 2009
(this “Agreement”), representing an amendment to the Amended and Restated
Revolving Credit Agreement, dated as of June 28, 2006 (as amended, supplemented
or otherwise modified, the “Credit Agreement”), among iStar Financial Inc., (the
“Borrower”), the lenders from time to time party thereto (the “Banks”), the
documentation agents named therein, Bank of America, N.A., as syndication agent,
JPMorgan Chase Bank, N.A., as administrative agent for the Banks (in such
capacity, the “Administrative Agent”), and the other parties thereto.

 

W I T N E S S E T H :

 

WHEREAS, the Borrower, the Administrative Agent and the Banks are parties to the
Credit Agreement;

 

WHEREAS, the Borrower has requested that the Administrative Agent and the Banks
agree to amend certain provisions of the Credit Agreement; and

 

WHEREAS, the Administrative Agent and the Banks party hereto are willing to
agree to the requested amendment, but only upon the terms and conditions set
forth herein;

 

NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, and in consideration of the premises contained herein,
the parties hereto agree as follows:

 

1.                                       Defined Terms.  Unless otherwise
defined herein, terms defined in the Credit Agreement and used herein shall have
the meanings given to them in the Credit Agreement.

 

2.                                       Amendment to Section 1.1
(Definitions).  Section 1.1 of the Credit Agreement is hereby amended by:

 

a.               deleting the following definitions in their entirety:

 

“Adjusted Earnings”; “Capital Stock”; “Convertible Securities”; “Debt Service”;
“Defaulted Assets”; “EBITDA”; “Fixed Charges”; “Governmental Acts”; “Guarantee
Agreement”; “Guarantors”; “Indenture”; “Interest Expense”; “Letter of Credit
Collateral”; “Letter of Credit Collateral Account”; “Letter of Credit
Documents”; “Mandatory Borrowing”; “Negative Pledge”; “Net Income”; “Net
Offering Proceeds”; “Net Worth”; “Permitted Liens”; “REIT”; “Secured Debt”;
“Swingline Commitment”; “Total Indebtedness”; “Undepreciated Real Estate
Assets”; “Unencumbered Asset”; “Unreimbursed Obligation”; “Unsecured Debt”;
“Value”;

 

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b.              deleting the phrase “each entity (other than Borrower) listed on
the signature pages hereof” in the definition of “Bank” therein and replacing
such phrase with “each entity (other than Borrower and the Administrative Agent)
party to this Agreement following the Commitment Transfer”;

 

c.               deleting the phrase “, as well as Loans required to be made by
a Bank pursuant to Section 2.17 to reimburse a Fronting Bank for a Letter of
Credit that has been drawn down” in the definition of “Committed Loan” therein;

 

d.              adding the following new definition, to appear in proper
alphabetical order:

 

““Commitment Transfer” has the meaning set forth in Section 34 of the 2006
Amendment and Commitment Transfer Agreement, dated as of March 13, 2009, among
the Borrower, the banks party thereto and the Administrative Agent.”

 

e.               deleting the definition of “Loan Documents” in its entirety and
inserting in lieu thereof the following new definition of “Loan Documents”;

 

““Loan Documents” means this Agreement, the Notes and the Letter(s) of Credit.”;

 

f.                 inserting the phrase “or any amendment, waiver or other
modification of the Loan Documents made in accordance with Section 9.5” after
the word “conditions” in the definition of “Material Adverse Effect” therein;

 

g.              deleting the reference to “Total Asset Value” in the definition
of “Contingent Obligation” therein and replacing such term with “total asset
value”;

 

h.              deleting the phrase “Sections 5.12 and 6.1(e)” in the definition
of “Non-Recourse Indebtedness” therein and replacing such phrase with
“Section 6.1(e)”;

 

i.                  deleting the phrase “or Section 2.3(b)(i)” in the definition
of “Notice of Borrowing” therein; and

 

j.                  deleting the phrase “pursuant to Section 2.3” in the
definition of “Swingline Loan” therein.

 

3.                                       Amendment to Section 1.3 (Types of
Borrowing).  Section 1.3 of the Credit Agreement is hereby amended by deleting
the phrase “, and a “Swingline Borrowing” is a Borrowing under Section 2.3 in
which only the Swingline Lender participates (subject to the provisions of said
Section 2.3)” therein.

 

4.                                       Amendment to Section 2.2 (Notice of
Borrowing).  Section 2.2 of the Credit Agreement is hereby amended by inserting
the following at the end of clause (b) thereof:

 

“Notwithstanding anything to the contrary contained in this Agreement, no
Swingline Loans or Letters of Credit will be outstanding, or will be made or
issued,

 

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respectively, after the Commitment Transfer and all related terms and provisions
of the Loan Documents shall have no effect whatsoever.”

 

5.                                       Amendment to Section 2.3 (Swingline
Loan Subfacility).  Section 2.3 of the Credit Agreement is hereby amended by
deleting existing Section 2.3 in its entirety and inserting in lieu thereof the
following new Section 2.3:

 

“2.3  [Intentionally Omitted].”

 

6.                                       Amendment to Section 2.5 (Notice to
Banks; Funding of Loans).  Section 2.5 of the Credit Agreement is hereby amended
by deleting the phrase “(including without limitation each Mandatory Borrowing)”
from clause (b) thereof.

 

7.                                       Amendment to Section 2.6 (Notes). 
Section 2.6 of the Credit Agreement is hereby amended by deleting the sentence
“The Swingline Loans shall mature, and the principal amount thereof shall be due
and payable, in accordance with Section 2.3(b)(iii).” from clause (d) thereof.

 

8.                                       Amendment to Section 2.7 (Method of
Electing Interest Rates).  Section 2.7 of the Credit Agreement is hereby amended
by deleting the phrase “or as otherwise provided in Section 2.3 with respect to
Mandatory Borrowings” from clause (a) thereof.

 

9.                                       Amendment to Section 2.9 (Fees). 
Section 2.9 of the Credit Agreement is hereby amended by:

 

a.               deleting existing clause (b) thereof in its entirety and
inserting in lieu thereof the following new clause (b):

 

“(b)  [intentionally omitted].” and

 

b.              deleting existing clause (c) thereof in its entirety and
inserting in lieu thereof the following new clause (c):

 

“(c)  [intentionally omitted].”

 

10.                                 Amendment to Section 2.11 (Optional
Prepayments).  Section 2.11 of the Credit Agreement is hereby amended by:

 

a.               adding the following sentence at the end of clause (a) thereof:

 

“Notwithstanding anything to the contrary contained herein, any such prepayment
made in connection with, or which would otherwise result from, any Commitment
Transfer shall be permitted without regard to the foregoing provisions of this
Section 2.11(a).”;

 

b.              adding the following sentence at the end of clause (b) thereof:

 

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“Notwithstanding anything to the contrary contained herein, any such prepayment
made in connection with, or which would otherwise result from, any Commitment
Transfer shall be permitted without regard to the foregoing provisions of this
Section 2.11(b).”;

 

c.               deleting the following sentence from clause (d) thereof:

 

“A reduction of the Commitments pursuant to this Section 2.11(d) shall not
effect a reduction in the Swingline Commitment (unless so elected by the
Borrower) until the aggregate Commitments have been reduced to an amount equal
to the Swingline Commitment.”;

 

d.              adding the following sentence at the end of clause (d) thereof:

 

“Notwithstanding anything to the contrary contained herein, any such prepayment,
cancellation or termination made in connection with, or which would otherwise
result from, any Commitment Transfer shall be permitted without regard to the
foregoing provisions of this Section 2.11(d).”; and

 

e.               deleting the phrase “and the Swingline Commitment” in clause
(e) thereof.

 

11.                                 Amendment to Section 2.13 (General
Provisions as to Payments).  Section 2.13 of the Credit Agreement is hereby
amended by adding the following sentence at the end of clause (a) thereof:

 

“Notwithstanding anything to the contrary contained herein, no payment or
prepayment of Loans made in connection with, or which would otherwise result
from, any Commitment Transfer shall be subject to the foregoing provisions of
this Section 2.13(a).”

 

12.                                 Amendment to Section 2.16 (Use of
Proceeds).  Section 2.16 of the Credit Agreement is hereby amended by deleting
the following sentence from the end thereof:

 

“Proceeds of Alternate Currency Borrowings may be used by the Borrower to make
contributions to one or more Guarantors, which will use such proceeds in
accordance with this Section 2.16.”

 

13.                                 Amendment to Section 2.17 (Letters of
Credit).  Section 2.17 of the Credit Agreement is hereby amended by deleting
existing Section 2.17 in its entirety and inserting in lieu thereof the
following new Section 2.17:

 

“2.17  [Intentionally Omitted].”

 

14.                                 Amendment to Section 2.18 (Letter of Credit
Usage Absolute).  Section 2.18 of the Credit Agreement is hereby amended by
deleting existing Section 2.18 in its entirety and inserting in lieu thereof the
following new Section 2.18:

 

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“2.18  [Intentionally Omitted].”

 

15.                                 Amendment to Section 2.19 (Letters of Credit
Maturing after the Maturity Date).  Section 2.19 of the Credit Agreement is
hereby amended by deleting existing Section 2.19 in its entirety and inserting
in lieu thereof the following new Section 2.19:

 

“2.19  [Intentionally Omitted].”

 

16.                                 Amendment to Section 3.2 (Borrowings). 
Section 3.2 of the Credit Agreement is hereby amended by deleting clause (a) in
its entirety and inserting in lieu thereof the following new clause (a):

 

“(a)                            receipt by the Administrative Agent of a Notice
of Borrowing as required by Section 2.2 or a Notice of Money Market Borrowing as
required by Section 2.4(f).”

 

17.                                 Amendment to Section 4.4 (Financial
Information).  Section 4.4 of the Credit Agreement is hereby amended by
inserting the phrase “through the date hereof” after the phrase “December 31,
2005” in clauses (b) thereof.

 

18.                                 Amendment to Section 4.15 (REIT Status). 
Section 4.15 of the Credit Agreement is hereby amended by deleting existing
Section 4.15 in its entirety and inserting in lieu thereof the following new
Section 4.15:

 

“4.15  [Intentionally Omitted].”

 

19.                                 Amendment to Section 4.24 (Insurance). 
Section 4.24 of the Credit Agreement is hereby amended by deleting existing
Section 4.24 in its entirety and inserting in lieu thereof the following new
Section 4.24:

 

“4.24  Insurance.  The Borrower currently maintains 100% replacement cost
insurance coverage (subject to customary deductibles) in respect of each of its
Real Property Assets, as well as commercial general liability insurance
(including, without limitation, “builders’ risk” where applicable) against
claims for personal, and bodily injury and/or death, to one or more persons, or
property damage, as well as workers’ compensation insurance, in each case with
respect to liability and casualty insurance with insurers having an A.M. Best
policyholders’ rating of not less than A-/VII at the time of issuance or
extension of any such coverage policy in amounts no less than customarily
carried by owners of properties similar to, and in the same locations as, the
Borrower’s Real Property Assets; provided, however, that the foregoing A.M. Best
policyholders’ rating requirement shall not be required for (a) such insurance
as tenants of Credit Tenant Lease Assets and other real estate owned assets are
permitted or required pursuant to applicable leases to obtain or maintain,
(b) exposure under existing insurance policies (but not renewals of any such
policies) to CV Starr, in a Lloyds Syndicate in an amount not to exceed
$20,000,000 and (c) liability and casualty insurance policies issued after the
Closing Date

 

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on Real Property Assets constituting not more than 5.0% of all Real Property
Assets owned by the Borrower with insurers having an A.M. Best policyholders’
rating of less than A-/VII, but not less than B++/VII.”

 

20.                                 Amendment to Section 4.26 (Unencumbered
Assets and Indebtedness).  Section 4.26 of the Credit Agreement is hereby
amended by deleting existing Section 4.26 in its entirety and inserting in lieu
thereof the following new Section 4.26:

 

“4.26  [Intentionally Omitted].”

 

21.                                 Amendment to Section 5.1(Information). 
Section 5.1 of the Credit Agreement is hereby amended by:

 

a.               deleting existing clause (c) thereof in its entirety and
inserting in lieu thereof the following new clause (c):

 

“(c) simultaneously with the delivery of each set of financial statements
referred to in clauses (a) and (b) above, a certificate of a financial officer
of the Borrower certifying (x) that such financial statements fairly present the
financial condition and the results of operations of the Borrower on the dates
and for the periods indicated, on the basis of GAAP, with respect to the
Borrower subject, in the case of interim financial statements, to normally
recurring year-end adjustments, and (y) that such officer has reviewed the terms
of the Loan Documents and has made, or caused to be made under his or her
supervision, a review in reasonable detail of the business and condition of the
Borrower during the period beginning on the date through which the last such
review was made pursuant to this Section 5.1(c) (or, in the case of the first
certification pursuant to this Section 5.1(c), the Closing Date) and ending on a
date not more than ten (10) Business Days prior to, but excluding, the date of
such delivery and that (1) on the basis of such financial statements and such
review of the Loan Documents, no Event of Default existed under
Section 6.1(b) with respect to Section 5.9 at or as of the date of said
financial statements and (2) on the basis of such review of the Loan Documents
and the business and condition of the Borrower, to the best knowledge of such
officer, as of the last day of the period covered by such certificate no Default
or Event of Default under any other provision of Section 6.1 occurred and is
continuing or, if any such Default or Event of Default has occurred and is
continuing, specifying the nature and extent thereof and, the action the
Borrower proposes to take in respect thereof.  Such certificate shall set forth
the calculations required to establish the matters described in clauses (1) and
(2) above;”;

 

b.              (b) deleting existing clause (j) thereof in its entirety and
inserting in lieu thereof the following new clause (j):

 

“(j)  [intentionally omitted];”; and

 

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c.               deleting existing clause (k) thereof in its entirety and
inserting in lieu thereof the following new clause (k):

 

“(k)  [intentionally omitted];”

 

22.                                 Amendment to Section 5.2 (Payment of
Obligations).  Section 5.2 of the Credit Agreement is hereby amended by deleting
existing Section 5.2 in its entirety and inserting in lieu thereof the following
new Section 5.2:

 

“5.2  [Intentionally Omitted].”

 

23.                                 Amendment to Section 5.8 (Financial
Covenants).  Section 5.8 of the Credit Agreement is hereby amended by deleting
existing Section 5.8 in its entirety and inserting in lieu thereof the following
new Section 5.8:

 

“5.8  [Intentionally Omitted].”

 

24.                                 Amendment to Section 5.11 (Borrower
Status).  Section 5.11 of the Credit Agreement is hereby amended by deleting
existing Section 5.11 in its entirety and inserting in lieu thereof the
following new Section 5.11:

 

“5.11  [Intentionally Omitted].”

 

25.                                 Amendment to Section 5.12 (Other
Indebtedness).  Section 5.12 of the Credit Agreement is hereby amended by
deleting existing Section 5.12 in its entirety and inserting in lieu thereof the
following new Section 5.12:

 

“5.12  [Intentionally Omitted].”

 

26.                                 Amendment to Section 6.1 (Events of
Default).  Section 6.1 of the Credit Agreement is hereby amended by:

 

a.               deleting the phrase “Section 5.8, Section 5.9, Section 5.10,
Section 5.11 or Section 5.12” in clause (b) thereof and inserting in lieu
thereof the phrase “Section 5.9 or Section 5.10”;

 

b.              deleting the phrase “or any Guarantor” in clauses (c), (d) and
(n) thereof;

 

c.               deleting existing clause (e) thereof in its entirety and
inserting in lieu thereof the following new clause (e):

 

“(e)  the Borrower or any Subsidiary shall default in the performance or
observance of any obligation or condition with respect to any Recourse Debt
(other than the Obligations) for which the aggregate outstanding principal
amounts exceed Seventy-Five Million Dollars ($75,000,000), or any other event
shall occur or condition exist, in each case beyond the giving of any required
notice and the expiration of any applicable grace

 

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period, if the effect of such default, event or condition results in the
acceleration of such Recourse Debt prior to its maturity;

 

d.              deleting existing clause (i) in its entirety and inserting in
lieu thereof the following new clause (i):

 

“(i)  [intentionally omitted];”;

 

e.               deleting existing clause (j) in its entirety and inserting in
lieu thereof the following new clause (j):

 

“(j)  [intentionally omitted];”; and

 

f.                 deleting existing clause (o) in its entirety and inserting in
lieu thereof the following new clause (o):

 

“(o)  [intentionally omitted];”

 

27.                                 Amendment to Section 6.4 (Actions in Respect
of Letters of Credit).  Section 6.4 of the Credit Agreement is hereby amended by
deleting existing Section 6.4 in its entirety and inserting in lieu thereof the
following new Section 6.4:

 

“6.4  [Intentionally Omitted].”

 

28.                                 Amendment to Section 6.5 (Distribution of
Proceeds after Default).  Section 6.5 of the Credit Agreement is hereby amended
by deleting the phrase “Section 2.3, Section 2.17 and” therein.

 

29.                                 Amendment to Section 7.8 (Successor Agent). 
Section 7.8 of the Credit Agreement is hereby amended by deleting the first
sentence thereof in its entirety and inserting in lieu thereof the following:

 

“The Administrative Agent may resign at any time by giving notice thereof to the
Banks and the Borrower.”

 

30.                                 Amendment to Section 9.4 (Sharing of
Set-Offs).  Section 9.4 of the Credit Agreement is hereby amended by adding the
following at the end thereof:

 

“Notwithstanding the foregoing, the provisions of this Section 9.4 shall not
apply to any set-off, payment, collateral or other benefit received by any Bank
(or any Affiliate of any Bank) in connection with or which would otherwise
result from any Commitment Transfer.”

 

31.                                 Amendment to Section 9.13 (Recourse
Obligation).  Section 9.13 of the Credit Agreement is hereby amended by deleting
existing Section 9.13 in its entirety and inserting in lieu thereof the
following new Section 9.13:

 

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“9.13  Recourse Obligation.  This Agreement and the Obligations hereunder are
fully recourse to the Borrower and each Designated Borrower. Notwithstanding the
foregoing, no recourse under or upon any obligation, covenant, or agreement
contained in this Agreement shall be had against any officer, director,
shareholder or employee of the Borrower or Designated Borrower except in the
event of fraud or misappropriation of funds on the part of such officer,
director, shareholder or employee.”

 

32.                                 Consent.  Notwithstanding anything contained
in the Credit Agreement to the contrary, the Banks party hereto, constituting
the Required Banks, hereby consent to each Commitment Transfer (as defined in
Section 34 of this Agreement) exercised by the Banks in accordance with the
terms hereof and waive any non-compliance with the Credit Agreement and any
Default or Event of Default arising therefrom.

 

33.                                 Cancellation of Defaulting Lender
Commitments.  The parties hereto hereby agree that the unfunded portion of
Lehman Commercial Paper Inc.’s (“LCPI”) Commitment under the Credit Agreement
may be cancelled in full and terminated by the Administrative Agent upon consent
of LCPI and without further consent of the Banks.

 

34.                                 Commitment Transfer.  Upon the effectiveness
of this Agreement and the effectiveness of the amendments to the Credit
Agreement herein, each Bank (each a “Consenting Bank”) whose Consent and
Addendum, in the form of Exhibit A hereto (the “Consent and Addendum”), is
accepted by the Borrower and the Administrative Agent agrees to transfer all or
such portion of its Commitment under the Credit Agreement as set forth on its
Consent and Addendum (each such transfer, a “Commitment Transfer”) to the 2011
Second Priority Credit Agreement, dated as of March 13, 2009 (the “New Secured
Facility”), among the Borrower, Bank of America, N.A. and Citicorp North America
Inc. (or an affiliate thereof), as syndication agents, JPMorgan Chase Bank,
N.A., as administrative agent, and the other parties thereto.  The Commitment
Transfer of each Bank will be subject to the conditions set forth in the Consent
and Addendum.

 

35.                                 Conditions to Effectiveness of this
Agreement.  This Agreement shall become effective as of the date first written
above upon:

 

(a)

receipt by the Administrative Agent of counterparts of this Agreement duly
executed by the Borrower and the Banks party hereto, constituting the Required
Banks;

 

 

(b)

acceptance by the Borrower and the Administrative Agent of a Consent and
Addendum duly executed by Banks constituting the Required Banks;

 

 

(c)

receipt by each Consenting Bank of all outstanding amounts due and payable to
such Consenting Bank under the Credit Agreement;

 

 

(d)

payment of all fees and expenses required to be paid on or before the effective
date of this Agreement;

 

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(e)

no injunction writ, restraining order or other order prohibiting the
effectiveness of this Amendment having been issued; and

 

 

(f)

effectiveness of the New Secured Facility.

 

36.                                 Representations and Warranties.  On and as
of the date hereof, prior to and after giving effect to this Agreement, the
Borrower (i) hereby confirms, reaffirms and restates the representations and
warranties set forth in Section 4 of the Credit Agreement as amended by this
Agreement mutatis mutandis, except to the extent that such representations and
warranties expressly relate to a specific earlier date in which case the
Borrower  hereby confirms, reaffirms and restates such representations and
warranties as of such earlier date, and (ii) hereby represents and warrants that
no Default or Event of Default has occurred and is continuing.

 

37.                                 Continuing Effect; No Other Amendments. 
Except as expressly set forth in this Agreement, all of the terms and provisions
of the Credit Agreement are and shall remain in full force and effect and the
Borrower shall continue to be bound by all of such terms and provisions.  Each
amendment provided for herein is limited to the specific provision of the Credit
Agreement specified herein and shall not constitute an amendment of, or an
indication of the Administrative Agent’s or the Banks’ willingness to amend or
waive, any other provision of the Credit Agreement or the same provision for any
other date or purpose.

 

38.                                 Expenses; Indemnification.  The Borrower
agrees to pay and reimburse the Administrative Agent for all its reasonable
out-of-pocket costs and expenses incurred in connection with the preparation and
delivery of this Agreement, including, without limitation, the reasonable and
documented fees and disbursements of counsel to the Administrative Agent.  The
Borrower agrees that the provisions of Section 9.3(b) of the Credit Agreement,
and the indemnities contained in Sections 2.14, 8.3 and 8.4, shall be applicable
mutatis mutandis to the Commitment Transfers and the other transactions
contemplated by this Agreement for the benefit of the Consenting Banks as if set
forth in full herein.

 

39.                                 Counterparts.  This Agreement may be
executed by one or more of the parties to this Agreement on any number of
separate counterparts (including by facsimile or .pdf transmission), and all of
said counterparts taken together shall be deemed to constitute one and the same
instrument.  The execution and delivery of this Agreement by each of the parties
hereto shall be binding upon each of its successors and assigns (including
transferees of its commitments and Loans in whole or in part prior to
effectiveness hereof) and binding in respect of all of its commitments and
Loans, including any acquired subsequent to its execution and delivery hereof
and prior to the effectiveness hereof.

 

40.                                 GOVERNING LAW.  THIS AGREEMENT AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY,
AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW
YORK.

 

41.                                 Termination of Guarantee.  The Guarantee
Agreement is hereby terminated, and each of the Guarantors is hereby released
from its obligations thereunder and under any of the other Loan Documents.

 

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42.                                 Letters of Credit. The parties hereto hereby
agree that the Letters of Credit issued and outstanding under the Credit
Agreement and any related Letter of Credit Documents, shall be transferred to
and shall constitute Letters of Credit and Letter of Credit Documents under the
New Secured Facility and for purposes thereof will be deemed to have been issued
by the Fronting Bank under the New Secured Facility.  Each Consenting Bank shall
have participating interests in such Letters of Credit in accordance with the
provisions of the New Secured Facility.

 

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

 

 

 

iSTAR FINANCIAL INC., A MARYLAND CORPORATION, as the Borrower

 

 

 

By:

/s/ Geoffrey M. Dugan

 

Name:

Geoffrey M. Dugan

 

Title: 

Secretary

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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JPMORGAN CHASE BANK, N.A., as Administrative Agent, a Bank,      Swingline
Lender and Fronting Bank

 

 

 

By:

/s/ Charles Hoagland

 

Name:

Charles Hoagland

 

Title: 

Vice President

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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BANK OF AMERICA, N.A., as Syndication Agent and a Bank

 

 

 

By:

/s/ Michael W. Edwards

 

Name:

Michael W. Edwards

 

Title: 

Senior Vice President

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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CITICORP NORTH AMERICA, INC., as Documentation Agent and a Bank

 

 

 

By:

/s/ David Bouton

 

Name:

David Bouton

 

Title: 

Managing Director

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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WACHOVIA BANK, NATIONAL ASSOCIATION, as a Bank

 

 

 

By:

/s/ Evander S. Jones, Jr.

 

Name:

Evander S. Jones, Jr.

 

Title: 

Director

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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DEUTSCHE BANK AG, NEW YORK BRANCH, as a Bank

 

 

 

By:

/s/ James Rolison

 

Name:

James Rolison

 

Title: 

Managing Director

 

 

 

 

By:

/s/ R. Chris Jones

 

Name:

R. Chris Jones

 

Title: 

Director

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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MORGAN STANLEY SENIOR FUNDING, INC., as a Bank

 

 

 

By:

/s/ Stephen B. King

 

Name:

Stephen B. King

 

Title: 

Vice President

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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BARCLAYS BANK PLC, as a Bank

 

 

 

By:

/s/ Mark Manski

 

Name:

Mark Manski

 

Title: 

Managing Director

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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THE ROYAL BANK OF SCOTLAND plc, as a Bank

 

 

 

By:

/s/ Michael Fabiano

 

Name:

Michael Fabiano

 

Title: 

Senior Vice President

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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NATIONAL AUSTRALIA BANK LTD., as a Bank

 

 

 

By:

/s/ Michael Pryce

 

Name:

Michael Pryce

 

Title: 

Director

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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ROYAL BANK OF CANADA, as a Bank

 

 

 

By:

/s/ Dan LePage

 

Name:

Dan LePage

 

Title: 

Authorized Signatory

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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THE BANK OF NOVA SCOTIA, as a Bank

 

 

 

By:

/s/ George Sherman

 

Name:

George Sherman

 

Title: 

Director

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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SCOTIABANC INC., as a Bank

 

 

 

By:

/s/ J.F. Todd

 

Name:

J.F. Todd

 

Title:

Managing Director

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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FORTIS BANK SA/NV, NEW YORK BRANCH, as a Bank

 

 

 

By:

/s/ Barry Chung

 

Name:

Barry Chung

 

Title:

Director

 

 

 

By:

/s/ Jack Au

 

Name:

Jack Au

 

Title:

Director

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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HSBC BANK USA, NATIONAL ASSOCIATION, as a Bank

 

 

 

By:

/s/ Thomas L. Nolan

 

Name:

Thomas L. Nolan

 

Title:

Vice President

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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EMIGRANT REALTY FINANCE, LLC, a Delaware limited liability company

 

 

 

By:

/s/ Michael Broido

 

Name:

Michael Broido

 

Title:

Managing Director

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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WEST LB AG, NEW YORK BRANCH, as a Bank

 

 

 

By:

/s/ Christian Ruehmer

 

Name:

Christian Ruehmer

 

Title:

Managing Director

 

 

 

By:

/s/ Sharon Wang

 

Name:

Sharon Wang

 

Title:

Associate Director

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD. NEW YORK BRANCH, as a Bank

 

 

 

By:

/s/ Tsang – Pei Hsu

 

Name:

Tsang – Pei Hsu

 

Title:

VP & DGM

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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BANK OF CHINA, NEW YORK BRANCH, as a Bank

 

 

 

By:

/s/ Xiaojing Li

 

Name:

Xiaojing Li

 

Title:

General Manager

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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PEOPLE’S UNITED BANK, as a Bank

 

 

 

By:

/s/ Maurice Fry

 

Name:

Maurice Fry

 

Title:

Vice President

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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THE BANK OF TOKYO — MITSUBISHI UFJ, LTD, as a Bank

 

 

 

By:

/s/ David Noda

 

Name:

David Noda

 

Title:

VP & Manager

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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E. SUN COMMERCIAL BANK, LTD., LOS ANGELES BRANCH, as a Bank

 

 

 

By:

/s/ Benjamin Lin

 

Name:

Benjamin Lin

 

Title:

EVP & GM

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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TAIPEI FUBON COMMERCIAL BANK, NEW YORK AGENCY, as a Bank

 

 

 

By:

/s/ Michael Tan

 

Name:

Michael Tan

 

Title:

VP & General Manager

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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THE CHIBA BANK, LTD., NEW YORK BRANCH, as a Bank

 

 

 

By:

/s/ Yukihito Inamura

 

Name:

Yukihito Inamura

 

Title:

General Manager

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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MERRILL LYNCH BANK USA, as a Bank

 

 

 

By:

/s/ Louis Alder

 

Name:

Louis Alder

 

Title:

First Vice President

 

Amendment and Commitment Transfer Agreement – 2006 Credit Agreement

 

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