Document:

exv10w1

 

Exhibit 10.1

FIRST AMENDMENT TO

AMENDED AND RESTATED

SENIOR SECURED CREDIT AGREEMENT

among

Apartment Investment and Management Company,

AIMCO Properties, L.P.,

AIMCO/Bethesda Holdings, Inc., and

NHP Management Company,

as the Borrowers,

the Guarantors and

Pledgors named herein,

Bank of America, N.A.,

as Administrative Agent, Swing Line Lender

and L/C Issuer

and

The Other Financial

Institutions Party Hereto

Dated as of June 16, 2005

BANC OF AMERICA SECURITIES LLC

and

KEYBANC CAPITAL MARKETS

as Joint-Lead Arrangers

and

Joint Book Managers and Bookrunners

 

 

FIRST AMENDMENT TO

AMENDED AND RESTATED

SENIOR SECURED CREDIT AGREEMENT

      This FIRST AMENDMENT TO AMENDED AND RESTATED SENIOR SECURED CREDIT AGREEMENT (this
“Amendment”) is dated as of June 16, 2005 (the “Amendment Effective Date”) and
entered into by and among APARTMENT INVESTMENT AND MANAGEMENT COMPANY, a Maryland corporation (the
“REIT”), AIMCO PROPERTIES, L.P., a Delaware limited partnership (“AIMCO”),
AIMCO/BETHESDA HOLDINGS, INC., a Delaware corporation (“AIMCO/Bethesda”) and NHP MANAGEMENT
COMPANY, a District of Columbia corporation (“NHP Management”) (the REIT, AIMCO,
AIMCO/Bethesda and NHP Management collectively referred to herein as “Borrowers”), BANK OF
AMERICA, N.A. (“Bank of America”), as Administrative Agent (in such capacity,
“Administrative Agent”) and as Swing Line Lender and L/C Issuer, and the Lenders party
hereto, and is made with reference to that certain Amended and Restated Senior Secured Credit
Agreement, dated as of November 2, 2004, by and among Borrowers, each lender from time to time
party thereto, and BANK OF AMERICA, N.A., as Administrative Agent and as Swing Line Lender and L/C
Issuer, KeyBank National Association, as Syndication Agent, (the “Credit Agreement”) (the
Credit Agreement as amended by this Amendment, the “Amended Agreement”). Capitalized terms
used in this Amendment shall have the meanings set forth in the Credit Agreement unless otherwise
defined herein.

RECITALS

      WHEREAS, Borrowers desire to amend the Credit Agreement as more particularly set forth below;

      WHEREAS, pursuant to the Credit Agreement, certain of the amendments set forth herein require
the consent of the Requisite Lenders, and the Requisite Lenders have consented hereto;

      NOW, THEREFORE, in consideration of the agreements, provisions and covenants contained herein,
the parties agree as follows:

Section 1. AMENDMENTS TO THE CREDIT AGREEMENT

      1.1 Amendment to Subsection 1.01 Defined Terms.

            A. The defined term “Applicable Term Rate” is deleted in its entirety and replaced
with the following:

                 “Applicable Term Rate” means the following percentages per annum based on whether that
portion of the Term Loan is a Eurodollar Rate Loan or a Base Rate Loan: (a) for a Eurodollar Rate
Loan, 2.00%, and (b) for a Base Rate Loan, 0.25%; provided however, that the Applicable Term Rate
with respect to New Term Loans shall be as agreed by the Lenders providing such New Term Loans and
the Borrowers at the time such Lenders agree to increase or provide their Term Loan Commitment in
respect of such New Term Loans.

 

 

            B. The defined term “Eligible Assignee” is deleted in its entirety and replaced with
the following:

                 “Eligible Assignee” means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved Fund;
and (d) any other Person (other than a natural person) approved by (i) the Administrative Agent and
(ii) unless an Event of Default has occurred and is continuing, the Borrowers (each such approval
not to be unreasonably withheld or delayed); provided that notwithstanding the foregoing, “Eligible
Assignee” shall not include the Borrowers or any of the Borrowers’ Affiliates or Subsidiaries.

            C. The defined term “Term Loan” is deleted in its entirety and replaced with the
following:

                 “Term Loan” means a Loan of any type made to Borrowers by the Term Lenders in
accordance with their Applicable Percentage pursuant to Section 2.01(b) or made as New Term Loans,
except as otherwise provided herein.

            D. The defined term “Term Loan Commitment” is deleted in its entirety and replaced
with the following:

                 “Term Loan Commitment” means, as to each Term Lender, its obligation to make a Term
Loan to the Borrowers pursuant Section 2.01(b), in an aggregate principal amount on the Closing
Date not to exceed such Term Lender’s portion of the Term Loan Amount or the amount set forth in
the Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as
applicable, as such amount may be adjusted from time to time in accordance with this Agreement and
in an aggregate principal amount on or after the Increase Effective Date, not to exceed such Term
Lender’s Term Loan Commitments issued pursuant to Section 2.15. A Term Lender’s Commitment may be
increased from time to time with its consent pursuant to Section 2.15; provided that all Term Loan
Commitments issued from and after the Amendment Effective Date shall be in respect of New Term
Loans.

            E. The following defined terms shall be inserted in the correct alphabetical location as
follows:

                 “New Term Loan” means a loan made by a Term Lender from and after the Amendment
Effective Date pursuant to, among other things, Section 2.15.

      1.2 Amendment to Sections 2.01(b) and 2.15(a).

            A. The following is hereby added as clause (iii) of Section 2.01(b):

            (iii) On or after the Increase Effective Date, as requested by the Borrowers, the Lenders that
have agreed to provide additional Commitments with respect to New Term Loans under Section 2.15
shall make New Term Loans, as the case may be, in an amount not to exceed the amount to such
Lenders’ additional Commitments with respect to New Term Loans, subject to the other terms and
conditions set forth herein. To the extent all or any portion of the New Term Loans are repaid or
prepaid, they may not be reborrowed.

2

 

            B. Section 2.15(a) shall be deleted in its entirety and replaced with the following:

                 (a) Request for Increase. Provided there exists no Default or Event of Default, upon
notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrowers may
request an increase in the Aggregate Commitments (which may be, at the option of the Borrowers,
Revolving Commitments and/or Term Loan Commitments) by an amount not exceeding $100,000,000;
provided that any such request for an increase shall be in a minimum amount of $25,000,000 and
provided that Term Loan Commitments issued from and after the Amendment Effective Date shall only
be in respect of New Term Loans. At the time of sending such notice, the Borrowers (in
consultation with the Administrative Agent) shall specify the time period within which each Lender
is requested to respond (which shall in no event be less than ten Business Days from the date of
delivery of such notice to the Lenders). Such notice shall indicate the Applicable Term Rate with
respect to such New Term Loans. Each Lender and Eligible Assignee agreeing to provide such New
Term Loans and the Borrowers shall have agreed to such Applicable Term Rate, which agreement shall
be evidenced in the applicable Notes, Joinder Agreement or Assignment and Assumption.

      1.3 Amendment to Section 6.01(c)

            A. Section 6.01(c) is deleted in its entirety and replaced with the following:

                 (c) as soon as available, but in any event within 90 days after the beginning of each fiscal
year, forecasts prepared by management of the Borrowers for such fiscal year in form and detail
reasonably satisfactory to Administrative Agent.

Section 2. CONDITIONS TO EFFECTIVENESS

      This Amendment shall become effective as of the Amendment Effective Date, at such time that
all of the following conditions are satisfied:

            A. Required Lenders shall have provided their written consent to this Amendment;

            B. Guarantors and Pledgors shall have executed this Amendment with respect to Section 5;

            C. If required by Administrative Agent, Administrative Agent shall have received originally
executed copies of one or more favorable written opinions of counsel for Borrowers, Guarantors and
Pledgors in form and substance satisfactory to Administrative Agent and its counsel, dated as of
the Amendment Effective Date, with respect to the validity, binding effect and enforceability of
this Amendment, and due authorization, execution and delivery thereof, and as to such other matters
as Administrative Agent acting on behalf of Lenders may request;

            D. Administrative Agent and its counsel shall have received executed resolutions from
Borrowers, Guarantors and Pledgors authorizing the entry into and performance

3

 

of this Amendment and the Credit Agreement as amended, all in form and substance satisfactory
to Administrative Agent and its counsel;

            E. Borrowers shall have paid the fees, costs and expenses of Administrative Agent’s counsel in
connection with this Amendment;

Section 3. BORROWERS’ REPRESENTATIONS AND WARRANTIES

      In order to induce the Required Lenders to consent to this Amendment and to amend the Credit
Agreement in the manner provided herein, Borrowers represent and warrant to Administrative Agent
and to each Lender that the following statements are true, correct and complete:

      3.1 Corporate Power and Authority. Borrowers have all requisite power and authority
to enter into this Amendment and any other agreements, guaranties or other operative documents to
be delivered pursuant to this Amendment, to carry out the transactions contemplated by, and perform
their obligations under, the Amended Agreement. Each of the Borrowers, Pledgors and Guarantors is
in good standing in the respective states of their organization on the Amendment Effective Date;

      3.2 Authorization of Agreements. The execution and delivery of this Amendment and the
performance of the Amended Agreement have been duly authorized by all necessary action on the part
of Borrowers and the other parties delivering any of such documents, as the case may be. Except as
disclosed on Schedule 3.2, the organizational documents of the Borrowers, Pledgors and Guarantors
have not been modified in any material respect since March 31, 2005. Concurrently with the
delivery of Joinder Agreements in connection with the New Term Loans, Borrowers shall deliver
evidence satisfactory to Administrative Agent of due authorization by Borrowers thereof and an
affirmation by Guarantors and Pledgors of their respective obligations under the Guaranty and
Pledge Agreement;

      3.3 No Default. After giving effect to this Amendment, no Default or Event of Default
exists under the Credit Agreement as of the Amendment Effective Date. Further, after giving effect
to this Amendment, no Default or Event of Default would result under the Amended Agreement from the
consummation of this Amendment;

      3.4 No Conflict. The execution, delivery and performance by Borrowers, Pledgors and
Guarantors of this Amendment and the performance of the Amended Agreement by Borrowers, does not
and will not (i) violate any provision of any applicable material law or any governmental rule or
regulation applicable to Borrowers, Pledgors, Guarantors or any of their Subsidiaries except as
could not reasonably be expected to have a Material Adverse Effect, the Organization Documents of
Borrowers, Pledgors, Guarantors or any of their Subsidiaries or any order, judgment or decree of
any court or other Governmental Authority binding on Borrowers, Pledgors, Guarantors or any of
their Subsidiaries except as could not reasonably be expected to have a Material Adverse Effect,
(ii) conflict with, result in a breach of or constitute (with due notice or lapse of time or both)
a default under any Contractual Obligation of Borrowers, Pledgors, Guarantors or any of their
Subsidiaries except as could not reasonably be expected to have a Material Adverse Effect, (iii)
result in or require the creation or imposition of any Lien

4

 

upon any of the properties or assets of Borrowers, Pledgors, Guarantors or any of their
Subsidiaries not otherwise permitted by the Amended Agreement except as could not reasonably be
expected to have a Material Adverse Effect, or (iv) require any approval of members or stockholders
or any approval or consent of any Person under any Contractual Obligation of Borrowers, Pledgors,
Guarantors or any of their Subsidiaries, except for such approvals or consents which have been or
will be obtained on or before the Amendment Effective Date;

      3.5 Governmental Consents. The execution and delivery by Borrowers, Guarantors and
Pledgors of this Amendment and the performance by Borrowers, Guarantors and Pledgors under the
Amended Agreement does not and will not require any registration with, consent or approval of, or
notice to, or other action to, with or by, any federal, state or other governmental authority or
regulatory body, except for filings or recordings in respect of the Liens created pursuant to the
Loan Documents and except as may be required, in connection with the disposition of any Collateral,
by laws generally affecting the offering and sale of securities;

      3.6 Binding Obligation. The Credit Agreement, as amended by this Amendment, has been
duly executed and delivered by Borrowers and is enforceable against Borrowers, in accordance with
its respective terms, except as may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable
principles relating to enforceability; and

      3.7 Incorporation of Representations and Warranties From Credit Agreement. After
giving effect to this Amendment, the representations and warranties contained in Section 5 of the
Credit Agreement are and will be true, correct and complete in all material respects on and as of
the Amendment Effective Date to the same extent as though made on and as of such date, except
representations and warranties solely to the extent such representations and warranties
specifically relate to an earlier date, in which case they were true, correct and complete in all
material respects on and as of such earlier date.

Section 4. MISCELLANEOUS

      4.1 Reference to and Effect on the Credit Agreement and the Other Loan Documents.

            A. On and after the Amendment Effective Date, each reference in the Credit Agreement to “this
Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit
Agreement, and each reference in 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 amended by this Amendment.

            B. Except as specifically amended by this Amendment, the Credit Agreement and the other Loan
Documents shall remain in full force and effect and are hereby ratified and confirmed.

            C. The execution, delivery and performance of this Amendment shall not, except as expressly
provided herein, constitute a waiver of any provision of, or operate as a waiver of any right,
power or remedy of Administrative Agent or any Lender under, the Credit Agreement or any of the
other Loan Documents.

5

 

      4.2 Fees and Expenses. Borrowers acknowledge that all reasonable costs, fees and
expenses incurred by Administrative Agent and its counsel with respect to this Amendment and the
documents and transactions contemplated hereby shall be for the account of Borrowers. On or before
the Amendment Effective Date, the Borrowers hereby agree to pay the reasonable fees, cost and
expenses of Administrative Agent’s counsel in connection with this Amendment concurrently with or
promptly after the Amendment Effective Date.

      4.3 Headings. Section and subsection headings in this Amendment are included herein
for convenience of reference only and shall not constitute a part of this Amendment for any other
purpose or be given any substantive effect.

      4.4 Counterparts; Effectiveness. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed an original, but all such counterparts together shall
constitute but one and the same instrument; signature pages may be detached from multiple separate
counterparts and attached to a single counterpart so that all signature pages are physically
attached to the same document. This Amendment shall become effective upon the execution of a
counterpart hereof by each Borrower and each Lender, and receipt by Borrowers and Administrative
Agent of written, facsimile or telephonic notification of such execution and authorization of
delivery thereof.

      4.5 Entire Agreement. This Amendment embodies the entire agreement and understanding
among the parties with respect to the amendment to the Credit Agreement, and supersedes all prior
agreements and understandings, oral or written, relating thereto.

Section 5. ACKNOWLEDGEMENT AND CONSENT

            A. Guarantors are party to that certain Payment Guaranty, dated as of November 2, 2004, to the
extent amended hereby, pursuant to which Guarantors have guarantied the Obligations. Pledgors are
party to that certain Borrowers Pledge Agreement, dated as of November 2, 2004, to the extent
amended hereby, pursuant to which Pledgors have pledged the Pledged Collateral as security for the
Secured Obligations (as defined in the Borrowers Pledge Agreement).

            B. Each Guarantor and each Pledgor hereby acknowledges that it has reviewed the terms and
provisions of the Credit Agreement and this Amendment and consents to the amendment of the Credit
Agreement effected pursuant to this Amendment. Each Guarantor and Pledgor hereby also consents to
the increase in the Obligations pursuant to Borrowers’ exercise of the increase in the Commitments
and the issuance of New Term Loans in an amount up to $100,000,000 (the “Increase”). Each
Guarantor hereby confirms that each Guaranty to which it is a party or otherwise bound, and each
Pledgor hereby confirms that the Pledge Agreement to which it is a party or otherwise bound, will
continue to guaranty or secure, as the case may be, to the fullest extent possible the payment and
performance of all of the “Indebtedness” (as defined in the applicable Guaranty) or the “Secured
Obligations” (as defined in the Borrowers Pledge Agreement), as the case may be, including without
limitation the payment and performance of all such “Indebtedness” or “Secured Obligations”, as the
case may be, with respect to the Obligations of Borrowers now or hereafter existing under or in
respect of

6

 

the Credit Agreement (as amended hereby) and the Notes defined therein, including in respect
of any New Term Loans in connection with the Increase.

            C. Each Guarantor acknowledges and agrees that any Guaranty to which it is a party or
otherwise bound, and each Pledgor acknowledges and agrees that the Pledge Agreement to which it is
a party or otherwise bound, shall continue in full force and effect and that all of its obligations
thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or
effectiveness of this Amendment and the Increase. Each Guarantor and each Pledgor represents and
warrants that all representations and warranties contained in the Guaranty and/or the Pledge
Agreement, as the case may be, to which it is a party or otherwise bound are true, correct and
complete in all material respects on and as of the Amendment Effective Date to the same extent as
though made on and as of that date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case they were true, correct and complete in all
material respects on and as of such earlier date.

            D. Each Guarantor and each Pledgor acknowledges and agrees that (i) notwithstanding the
conditions to effectiveness set forth in this Amendment, such Guarantor or such Pledgor, as the
case may be, is not required by the terms of the Credit Agreement or any other Loan Document to
consent to the amendments to the Credit Agreement effected pursuant to this Amendment and (ii)
nothing in the Credit Agreement, this Amendment or any other Loan Document shall be deemed to
require the consent of such Guarantor or such Pledgor to any future amendments to the Credit
Agreement.

[Signatures on Next Page]

7

 

      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered as of the day and year first written above.

	 	 	 	 	 
	BORROWERS: 	APARTMENT INVESTMENT AND

MANAGEMENT COMPANY,

a Maryland corporation

 	 
	 	By:  	/s/Patti K. Fielding
 	 
	 	 	Patti K. Fielding 	 
	 	 	Executive Vice President and Treasurer 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	AIMCO PROPERTIES, L.P.,

a Delaware limited partnership
	 
	 	 	 	 	 	 
	 
	 	By:	 	AIMCO-GP, INC.,

a Delaware corporation
	 
	 	Its:	 	General Partner
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

	 	 	 	 	 
	 	AIMCO/BETHESDA HOLDINGS INC.,

a Delaware corporation

 	 
	 	By:  	/s/Patti K. Fielding
 	 
	 	 	Patti K. Fielding 	 
	 	 	Executive Vice President and Treasurer 	 
	 
	 	NHP MANAGEMENT COMPANY,

a District of Columbia corporation

 	 
	 	By:  	/s/Patti K. Fielding
 	 
	 	 	Patti K. Fielding 	 
	 	 	Executive Vice President and Treasurer 	 

 

 

	 	 	 	 	 

PLEDGORS (for purposes of Section 5 only):

	 	 	 	 	 
	 	APARTMENT INVESTMENT AND

MANAGEMENT COMPANY,

a Maryland corporation, as Pledgor

 	 
	 	By:  	/s/Patti K. Fielding
 	 
	 	 	Patti K. Fielding 	 
	 	 	Executive Vice President and Treasurer 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	AIMCO PROPERTIES, L.P.,

a Delaware limited partnership, as Pledgor
	 
	 
	 	By:	 	AIMCO-GP, INC.,

a Delaware corporation
	 
	 	Its:	 	General Partner
	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding
Executive Vice President and Treasurer

	 	 	 	 	 
	 	AIMCO/BETHESDA HOLDINGS, INC.,

a Delaware corporation, as Pledgor

 	 
	 	By:  	/s/Patti K. Fielding
 	 
	 	 	Patti K. Fielding 	 
	 	 	Executive Vice President and Treasurer 	 
	 
	 	NHP MANAGEMENT COMPANY,

a District of Columbia corporation as Pledgor

 	 
	 	By:  	/s/Patti K. Fielding
 	 
	 	 	Patti K. Fielding 	 
	 	 	Executive Vice President and Treasurer 	 
	 

 

 

	 	 	 	 	 
	 	AIMCO/IPT, INC.

NHP A&R SERVICES, INC.

NHP REAL ESTATE CORPORATION

AIMCO HOLDINGS QRS, INC.

NHPMN-GP, INC.

LAC PROPERTIES QRS II INC.

 	 
	 	By:  	/s/Patti K. Fielding
 	 
	 	 	Patti K. Fielding 	 
	 	 	Executive Vice President and Treasurer 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	AIMCO LP LA, L.P.
	 
	 	 	 	 	 	 
	 
	 	By:	 	AIMCO LP QRS, Inc.,

as its General Partner
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

	 	 	 	 	 	 	 	 	 	 
	 
	 	GP-OP PROPERTY MANAGEMENT, LLC
	 
	 	 	 	 	 	 	 	 
	 
	 	By:	 	AIMCO Properties, L.P.,

as its Sole Member
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	By:	 	AIMCO-GP, Inc.,

as its General Partner
	 
	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

 

 

	 	 	 	 	 	 	 	 
	 
	 	AIMCO GP LA, L.P.,

a Delaware limited partnership
	

	 	 	 	 	 	 
	 
	 	By:

Its:	 	AIMCO-GP, INC.,

General Partner
	

	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

	 	 	 	 	 	 	 	 	 	 
	 
	 	LAC PROPERTIES OPERATING

PARTNERSHIP, L.P.,

a Delaware limited partnership
	 
	 	 	 	 	 	 	 	 
	 
	 	By:

Its:	 	AIMCO GP LA, L.P.,

General Partner
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	By:

Its:	 	AIMCO-GP, INC.,

General Partner
	 
	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer
	 
	 	 	 	 	 	 	 	 
	 
	 	AIC REIT PROPERTIES LLC,

a Delaware limited liability company
	 
	 	 	 	 	 	 	 	 
	 
	 	By:

Its:	 	AIMCO Properties L.P.

Managing Member
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	By:

Its:	 	AIMCO-GP, INC.,

General Partner
	 
	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

 

 

	 	 	 	 	 	 	 	 	 	 
	 
	 	AMBASSADOR APARTMENTS, L.P.
	

	 	 	 	 	 	 	 	 
	 
	 	By:	 	AIMCO Properties, L.P.,

as its General Partner
	

	 	 	 	 	 	 	 	 
	 
	 	 	 	By:	 	AIMCO-GP, Inc.,

as its General Partner
	

	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

	 	 	 	 	 	 	 	 
	 
	 	AIMCO HOLDINGS, L.P.
	 
	 	 	 	 	 	 
	 
	 	By:	 	AIMCO Holdings QRS, Inc.,

as its General Partner
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

	 	 	 	 	 	 	 	 
	 
	 	AMBASSADOR FLORIDA PARTNERS LIMITED PARTNERSHIP
	 
	 	 	 	 	 	 
	 
	 	By:	 	Ambassador Florida Partners, Inc.,

as its General Partner
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

 

 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	LAC PROPERTIES SUB LLC
	

	 	 	 	 	 	 	 	 	 	 
	 
	 	By:	 	LAC Properties Operating Partnership, L.P.,

as its Managing Member
	

	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	By:	 	AIMCO GP LA, L.P.,

as its General Partner
	

	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	By:	 	AIMCO-GP, Inc.,

as its General Partner
	

	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	LAC PROPERTIES GP I LLC
	

	 	 	 	 	 	 	 	 	 	 
	 
	 	By:	 	LAC Properties Operating Partnership L.P.,

as its Managing Member
	

	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	By:	 	AIMCO GP LA, L.P.,

as its General Partner
	

	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	By:	 	AIMCO-GP, Inc.,

as its General Partner
	

	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President and
Treasurer

 

 

GUARANTORS (for purposes of Section 5 only):

	 	 	 	 	 
	 	AIMCO EQUITY SERVICES, INC.

AIMCO HOLDINGS QRS, INC.

AIMCO-LP, INC.

AIMCO PROPERTIES FINANCE CORP.

AMBASSADOR I, INC.

AMBASSADOR VIII, INC.

ANGELES REALTY CORPORATION II

CONCAP EQUITIES, INC.

NHP A&R SERVICES, INC.

NHPMN STATE MANAGEMENT, INC.

NHP MULTI-FAMILY CAPITAL CORPORATION

AIMCO-GP, INC.

NHPMN-GP, INC.

 	 
	 	By:  	/s/Patti K. Fielding
 	 
	 	 	Patti K. Fielding 	 
	 	 	Executive Vice President and Treasurer 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	AIMCO IPLP, L.P.
	 
	 	 	 	 	 	 
	 
	 	By:	 	AIMCO/IPT, Inc.,

its General Partner
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding
Executive Vice President
and Treasurer
	 
	 	 	 	 	 	 
	 
	 	AIMCO HOLDINGS, L.P.
	 
	 	 	 	 	 	 
	 
	 	By:	 	AIMCO Holdings QRS, Inc.,

its General Partner
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding
Executive Vice President
and Treasurer

 

 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	AMBASSADOR CRM FLORIDA PARTNERS

LIMITED PARTNERSHIP
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	By:	 	Ambassador Apartments, L.P.,

as its General Partner
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	By:	 	AIMCO Properties, L.P.,

as its General Partner
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	By:	 	AIMCO-GP, Inc.,

as its General Partner
	 
	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

	 	 	 	 	 	 	 	 	 	 
	 
	 	AMBASSADOR APARTMENTS, L.P.
	 
	 	 	 	 	 	 	 	 
	 
	 	By:	 	AIMCO Properties, L.P.,

as its General Partner
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	By:	 	AIMCO-GP, Inc.,

as its General Partner
	 
	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President
and Treasurer
	 
	 	 	 	 	 	 	 	 
	 
	 	LAC PROPERTIES OPERATING PARTNERSHIP, L.P.
	 
	 	 	 	 	 	 	 	 
	 
	 	By:	 	AIMCO GP LA, L.P.,

a Delaware limited partnership
its General Partner
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	By:	 	AIMCO-GP, Inc.,

a Delaware corporation
as its General Partner
	 
	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President
and Treasurer

 

 

	 	 	 	 	 	 	 	 	 	 
	 
	 	GP-OP PROPERTY MANAGEMENT, LLC
	 
	 	 	 	 	 	 	 	 
	 
	 	By:	 	AIMCO Properties, L.P.,

as its Sole Member
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	By:	 	AIMCO-GP, Inc.,

as its General Partner
	 
	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

	 	 	 	 	 	 	 	 
	 
	 	NHPMN MANAGEMENT, L.P.,

a Delaware limited partnership
	 
	 	 	 	 	 	 
	 
	 	By:	 	NHPMN-GP, Inc.

a Delaware corporation
as its General Partner
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding

Executive Vice President
and Treasurer
	 
	 	 	 	 	 	 
	 
	 	NHPMN MANAGEMENT, LLC,

a Delaware limited liability company
	 
	 	 	 	 	 	 
	 
	 	By:	 	NHP Management Company,

a District of Columbia corporation
as its General Member and General Manager
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding

Executive Vice President
and Treasurer

 

 

	 	 	 	 	 	 	 	 
	 
	 	OP PROPERTY MANAGEMENT, L.P.,

a Delaware limited partnership
	 
	 	 	 	 	 	 
	 
	 	By:	 	NHPMN-GP, Inc.,
a Delaware corporation
as its Managing General Partner
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding

Executive Vice President
and Treasurer

	 	 	 	 	 	 	 	 	 	 
	 
	 	OP PROPERTY MANAGEMENT, LLC,

a Delaware limited liability company
	 
	 	 	 	 	 	 	 	 
	 
	 	By:	 	AIMCO Properties, L.P.,

a Delaware limited partnership
as its General Partner and General Manager
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	By:	 	AIMCO-GP, Inc.,

a Delaware corporation
as its General Partner
	 
	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President
and Treasurer

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	LAC PROPERTIES GP I LIMITED PARTNERSHIP,

a Delaware limited partnership
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	By:	 	LAC Properties GP I LLC,

a Delaware limited liability company

as its General Partner
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	By:	 	LAC Properties Operating Partnership L.P.,

a Delaware limited partnership
as its Managing Member
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	By:	 	AIMCO GP LA, L.P.,

a Delaware limited partnership
as its General Partner
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	By:	 	AIMCO-GP, Inc.,

a Delaware corporation
as its General Partner
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 	 	 	 	 	 	 
	

	 	 	 	 	 	 	 	 	 	 	 	Patti K. Fielding

Executive Vice President and Treasurer

	 	 	 	 	 	 	 	 
	 
	 	LAC PROPERTIES GP II LIMITED PARTNERSHIP,

a Delaware limited partnership
	 
	 	 	 	 	 	 
	 
	 	By:	 	LAC Properties QRS II Inc.,

a Delaware corporation
as its General Partner
	 
	 	 	 	 	 	 
	

	 	 	 	By:
	 	/s/Patti K. Fielding
	

	 	 	 	 	 	 
	

	 	 	 	 	 	Patti K. Fielding

Executive Vice President
and Treasurer

 

 

BANK OF AMERICA

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as Administrative Agent

 	 
	 	By:  	/s/ KATHLEEN M. CARRY	 
	 	 	Name:  	Kathleen M. Carry	 
	 	 	Title:  	Vice President	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as Swing Line Lender, L/C Issuer

and as a Lender

 	 
	 	By:  	/s/ JAMES P. JOHNSON 	 
	 	 	Name:  	James P. Johnson 	 
	 	 	Title:  	Senior Vice Presidentexv10w31

 

EXHIBIT 10.31

AMENDMENT NO. 1 TO

CONVERTIBLE PROMISSORY NOTE

      THIS AMENDMENT NO. 1 TO CONVERTIBLE PROMISSORY NOTE DATED APRIL 8, 2005 (this
“Amendment”) is entered into as of June 21, 2005, by and between Finisar Corporation, a
Delaware corporation (the “Company”), and Steven Bucher (“Holder”).

RECITALS

      A. The parties hereto, I-Robot Acquisition Corp, a Minnesota corporation and a wholly-owned
subsidiary of the Company (“Sub”), and I-TECH CORP., a Minnesota corporation
(“I-TECH”), entered into an Agreement and Plan of Merger dated April 7, 2005 (the
“Merger Agreement”), pursuant to which Sub was merged with and into I-TECH, with I-TECH
surviving as a wholly-owned subsidiary of the Company;

      B. In connection with the transactions contemplated by the Merger Agreement, the Company
issued to Holder a Convertible Promissory Note dated April 8, 2005 (the “Note”), pursuant
to which the Company promised to pay Holder the principal sum of $11,061,000, together with
interest on the outstanding principal balance of the Note at a rate of 3.35% per annum;

      C. On May 12, 2005, $4,507,077.45, the Initial Conversion Amount (as defined in the Note), and
accrued interest outstanding as of that date was converted into 3,652,756 shares of the Company’s
common stock;

      D. Pursuant to Section 3.1(b) of the Note, the Holder has the right to select up to two (2)
Subsequent Conversion Events (as defined in the Note) prior to September 12, 2005 on which to
convert the remaining principal balance outstanding under the Note into shares of the Company’s
common stock;

      E. Pursuant to Section 5 of the Note, the Note may only be amended or modified by written
instruments signed by the Company and Holder; and

      F. The parties hereto desire to amend Section 3.1(b) of the Note to provide that the Holder
can select up to five (5) Subsequent Conversion Events.

      NOW, THEREFORE, in consideration of the promises and mutual covenants herein contained, the
parties agree as follows:

      1. Definitions. Unless otherwise defined or specified in this Amendment,
all capitalized terms used herein will have the meanings set forth in the Note.

      2. Amendment to Section 3.1(b) of the Note. Section 3.1(b) of the Note is
amended and restated in its entirety to read as follows:

            “(b) The remaining principal balance, if any, outstanding under this Note after the Initial
Conversion Event (the “Remaining Principal Balance”) shall be converted into that

1

 

number of shares of Common Stock determined in accordance with Section 3.2 below on any of
five (5) days determined by the Holder (each of which, a “Subsequent Conversion Event” and,
together with the Initial Conversion Event, each a “Conversion Event”). The Holder shall
give written notice to the Company of its election to convert additional shares of Finisar Common
Stock on a Subsequent Conversion Event. Should any portion of the Remaining Principal Balance
remain outstanding as of the date that is four (4) months after the Initial Conversion Event, the
entire Remaining Principal Balance shall be automatically converted into shares of Finisar Common
Stock as of such date.”

      3. Continued Effect. Except as otherwise expressly provided herein, the
Note will continue in full force and effect in accordance with its terms.

      4. Remaining Subsequent Conversion Events. On June 2, 2005, the Holder
notified the Company of his election to convert $1,777,376.99 in principal, plus accrued interest
outstanding as of that date, into Common Stock, and the Company issued 1,500,007 shares of Common
Stock to the Holder pursuant to such conversion. As of the date of this Amendment, the remaining
principal balance outstanding under the Note is $4,776,545.56 and the Holder has the right to
select up to four (4) Subsequent Conversion Events.

      5. Miscellaneous.

            (a) Counterparts. This Amendment may be executed in one or more counterparts, each of
which shall be deemed an original, but all of which shall constitute one and the same document.

            (b) Governing Law. This Amendment, any dispute arising under or which is related to
this Amendment (whether in contract, tort or otherwise), and the validity, performance and
interpretation of this Amendment shall be governed by and construed in all respects under, the laws
of the United States of America and the State of California without giving effect to its conflicts
of law principles.

            (c) Entire Agreement. This Amendment constitutes the full and entire understanding
and agreement among the parties with regard to the subject matter hereof and supersedes all prior
written and oral agreements, representations and commitments, if any, among the parties with
respect to such subject matter.

[Remainder of the Page Intentionally Left Blank]

2

 

      IN WITNESS WHEREOF, the Holder has signed this Amendment and the Company has caused this
Amendment to be signed by its authorized representative.

	 	 	 	 	 
	STEVEN BUCHER
	 	FINISAR CORPORATION
	 
	 	 	 	 
	 
	 	 	 	 
	/s/ Steven Bucher

	 	By:
	 	/s/ Jerry S. Rawls
	 

	 	 	 	 
	 
	 	 	 	 
	

	 	Name:
	 	Jerry S. Rawls
	

	 	 	 	 
	 
	 	 	 	 
	

	 	Title:
	 	President and Chief Executive Officer
	

	 	 	 	 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}]]