Document:

Exhibit 10.6

 

General Maritime Corporation

Restricted Stock Grant Agreement

 

THIS
AGREEMENT is made as of May 13, 2010, between GENERAL MARITIME CORPORATION
(the “Company”) and PETER S. SHAERF (the “Participant”).

 

WHEREAS,
the Company has adopted and maintains the General Maritime Corporation 2001
Stock Incentive Plan, as amended (the “Plan”) to provide certain key persons,
on whose initiative and efforts the successful conduct of the business of the
Company depends, and who are responsible for the management, growth and
protection of the business of the Company, with incentives to: (a) enter
into and remain in the service of the Company, a Company subsidiary or a
Company joint venture, (b) acquire a proprietary interest in the success
of the Company, (c) maximize their performance and (d) enhance the
long-term performance of the Company (whether directly or indirectly through
enhancing the long-term performance of a Company subsidiary or a Company joint
venture);

 

WHEREAS,
the Plan provides that the Compensation Committee (the “Committee”) of the
Board of Directors (or the Board of Directors if it so elects) shall administer
the Plan and determine the key persons to whom awards shall be granted and the
amount and type of such awards; and

 

WHEREAS,
the Board of Directors has determined that the purposes of the Plan would be
furthered by granting the Participant an award under the Plan as set forth in
this Agreement;

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants
hereinafter set forth, the parties hereto hereby agree as follows:

 

1.             Grant of
Restricted Stock.  Pursuant to, and subject to, the terms and
conditions set forth herein and in the Plan, the Committee hereby grants to the
Participant 9,528 restricted shares (the “Restricted Stock”) of common stock of
the Company, par value $0.01 per share (“Common Stock”).

 

2.             Grant Date.  The
Grant Date of the Restricted Stock is May 13, 2010.

 

3.             Incorporation of
Plan.  All terms, conditions and restrictions of the Plan are
incorporated herein and made part hereof as if stated herein.  If
there is any conflict between the terms and conditions of the Plan and this
Agreement, the terms and conditions of the Plan, as interpreted by the
Committee, shall govern.  Except as otherwise provided herein, all
capitalized terms used herein shall have the meaning given to such terms in the
Plan.

 

4.             Vesting.  Subject to the further provision of this
Agreement, the Restricted Stock shall vest on the earliest of (i) May 13,
2011, (ii) the date of the next annual meeting of the Company to follow
the date hereof and (ii) the occurrence of a Change in Control, as defined
in 

 

 

Section 3.8(a) of
the Plan, as in effect on the date of such occurrence (each such date, the “Vesting
Date”).

 

5.             Restrictions on
Transferability.  Until a share of
Restricted Stock vests, the Participant shall not transfer the Participant’s
rights to such share of Restricted Stock or to any rights related thereto.  Any attempt to transfer unvested shares of
Restricted Stock or any rights related thereto, whether by transfer, pledge,
hypothecation or otherwise and whether voluntary or involuntary, by operation
of law or otherwise, shall not vest the transferee with any interest or right
in or with respect to such shares of Restricted Stock or such related rights.

 

6.             Termination of
Service.  In the event that the
Participant’s service with the Company terminates before the Vesting Date for
any reason other than the Participant’s death or disability, the Restricted
Stock, together with any property received in respect thereof, as set forth in Section 10
hereof, shall be forfeited as of the date of such termination of service, and
the Participant promptly shall return to the Company any certificates
evidencing the Restricted Stock.  Any
cash dividends or other property received in respect of the Restricted Stock
also shall be forfeited, unless the Board or the Committee determines
otherwise.  For purposes of this
Agreement, the Participant’s service shall terminate only when the Participant
is not a director, an employee or a consultant of the Company, as set forth in Section 1.6(c) of
the Plan.

 

7.             Death or Disability.  In the event that the Participant dies or the
Participant’s service with the Company terminates due to the Participant’s
disability (within the meaning of Section 2.5(d) of the Plan) before
the Vesting Date, the Restricted Stock shall become vested in full as of the
date of such death or termination of service.

 

8.             Issuance of
Certificates.

 

(a)           Reasonably promptly after the Grant
Date, the Company shall issue and deliver to the Participant a stock
certificate, registered in the name of the Participant, evidencing the shares
of Restricted Stock or shall instruct its transfer agent to issue shares of
Restricted Stock which shall be maintained in book entry form on the books of
the transfer agent.  The Restricted
Stock, if certificated, shall bear the following legend:

 

“THE
SALE, TRANSFER, ASSIGNMENT, PLEDGE, HYPOTHECATION ENCUMBRANCE OR OTHER DISPOSAL
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS OF
THE GENERAL MARITIME CORPORATION 2001 STOCK INCENTIVE PLAN AND A RESTRICTED
STOCK GRANT AGREEMENT BETWEEN GENERAL MARITIME CORPORATION AND THE HOLDER OF
RECORD OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE.  NO TRANSFER OF THE SECURITIES REPRESENTED BY
THIS CERTIFICATE IN CONTRAVENTION OF SUCH PLAN AND RESTRICTED STOCK GRANT
AGREEMENT SHALL BE VALID OR EFFECTIVE. 
COPIES OF SUCH AGREEMENT MAY BE OBTAINED BY WRITTEN REQUEST MADE BY
THE HOLDER OF RECORD OF THE CERTIFICATE TO THE SECRETARY OF GENERAL MARITIME
CORPORATION.”

 

2

 

If
the Restricted Stock is in book entry form, it shall be subject to electronic
coding or stop order indicating that such shares of Restricted Stock are
restricted by the terms of this Agreement and the Plan.  Such legend, electronic coding or stop order
shall not be removed until such shares of Restricted Stock vest.

 

(b)           Reasonably promptly after the
Restricted Stock vests pursuant to Section 4 hereof, (i) in the case
of certificated shares, in exchange for the surrender to the Company of the
certificate evidencing the Restricted Stock, delivered to the Participant under
Section 8(a) hereof, and the certificates evidencing any other securities
received in respect of such shares, if any, the Company shall issue and deliver
to the Participant (or the Participant’s legal representative, beneficiary or
heir) a certificate evidencing the Restricted Stock and such other securities,
free of the legend provided in Section 8(a) hereof and (ii) in
the case of book entry shares, the Company shall cause to be lifted and removed
any electronic coding or stop order established pursuant to Section 8(a) hereof.

 

(c)           The Company may require as a
condition of the delivery of stock certificates or the lifting or removal of
any electronic coding or stop order with respect to book entry shares pursuant
to Section 8(b) hereof that the Participant remit to the Company an
amount sufficient in the opinion of the Company to satisfy any federal, state
and other governmental tax withholding requirements related to the vesting of
the shares represented by such certificate. 
The Committee, in its sole discretion, may permit the Participant to
satisfy such obligation by delivering
shares of Common Stock or by directing the Company to withhold from
delivery shares of Common Stock, in either
case valued at their Fair Market Value on the Vesting Date with fractional
shares being settled in cash.

 

(d)           The Participant shall not be deemed
for any purpose to be, or have rights as, a shareholder of the Company by
virtue of the grant of Restricted Stock, except to the extent a stock
certificate is issued therefor or an appropriate book entry is made on the
books of the transfer agent reflecting the issuance thereof pursuant to Section 8(a) hereof,
and then only from the date such certificate is issued or such book entry is
made.  Upon the issuance of a stock
certificate or the making of an appropriate book entry on the books of the transfer
agent, the Participant shall have the rights of a shareholder with respect to
the Restricted Stock, including the right to vote the shares, subject to the
restrictions on transferability and the forfeiture provisions, as set forth in
this Agreement.

 

9.             Securities
Matters.  The Company shall be under
no obligation to effect the registration pursuant to the Securities Act of
1933, as amended (the “1933 Act”) of any interests in the Plan or any shares of
Common Stock to be issued thereunder or to effect similar compliance under any
state laws.  The Company shall not be obligated to cause to be issued
or delivered any certificates or to cause to be made any book entries on the
books of the transfer agent evidencing shares of Common Stock pursuant hereto
unless and until the Company is advised by its counsel that the issuance and
delivery of such certificates or the making of such book entries is in
compliance with all applicable laws, regulations of governmental authority and
the requirements of any securities exchange on which shares of Common Stock are
traded.  The Committee may require, as a condition of the issuance
and delivery of certificates or the making of book entries on the books of the
transfer agent evidencing shares of Common Stock pursuant to the terms hereof,
that the recipient of such shares make such covenants, agreements and 

 

3

 

representations,
and that such certificates or book entries bear such legends, or be subject to
electronic coding or stop orders, as the Committee, in its sole discretion,
deems necessary or desirable.  The Participant specifically
understands and agrees that the shares of Common Stock, if and when issued, may
be “restricted securities,” as that term is defined in Rule 144 under the
1933 Act and, accordingly, the Participant may be required to hold the shares
indefinitely unless they are registered under such Act or an exemption from
such registration is available.

 

10.           Dividends, etc.  Any cash dividends or other property (but not
including securities) received by a Participant with respect to a share of
Restricted Stock shall not vest until the underlying share of Restricted Stock
vests, and, if the Committee or the Board of Directors so elects in their sole
discretion, shall be held by the Company or such other custodian as may be
designated by the Company until such dividends or other property vest.  Any such cash dividends or other property
shall be forfeited and returned to the Company in the event the underlying
share of Restricted Stock is forfeited, subject to Section 2.7(f) of
the Plan.  Any securities received by a
Participant with respect to a share of Restricted Stock as a result of any
dividend, recapitalization, merger, consolidation, combination, exchange of
shares or otherwise will not vest until such share of Restricted Stock vests
and shall be forfeited if such share of Restricted Stock is forfeited, subject
to Section 2.7(f) of the Plan. 
Unless the Committee otherwise determines, such securities shall bear
the legend or be subject to the electronic coding or stop order set forth in Section 8(a) hereof.

 

11.           Delays or
Omissions.  No delay or omission to exercise any right, power or
remedy accruing to any party hereto upon any breach or default of any party
under this Agreement, shall impair any such right, power or remedy of such
party, nor shall it be construed to be a waiver of any such breach or default,
or an acquiescence therein, or of or in any similar breach or default
thereafter occurring, nor shall any waiver of any single breach or default be
deemed a waiver of any other breach or default theretofore or thereafter
occurring.  Any waiver, permit, consent or approval of any kind or
character on the part of any party of any breach or default under this
Agreement, or any waiver on the part of any party or any provisions or
conditions of this Agreement, must be in a writing signed by such party and
shall be effective only to the extent specifically set forth in such writing.

 

12.           Right of
Discharge Preserved.  Nothing in this
Agreement shall confer upon the Participant the right to continue as a member
of the Board of Directors, or affect any right which the Company may have to
terminate such service.

 

13.           Integration.  This
Agreement contains the entire understanding of the parties with respect to its
subject matter.  There are no restrictions, agreements, promises,
representations, warranties, covenants or undertakings with respect to the
subject matter hereof other than those expressly set forth herein.  This
Agreement, including, without limitation, the Plan, supersedes all prior
agreements and understandings between the parties with respect to its subject
matter.

 

14.           Counterparts.  This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which shall constitute one and the same
instrument.

 

4

 

15.           Governing Law.  This
Agreement shall be governed by and construed and enforced in accordance with the
laws of the State of New York, without regard to the provisions governing
conflict of laws.

 

16.           Obligation to
Notify.  If the Participant makes the
election permitted under Section 83(b) of the Internal Revenue Code
of 1986, as amended (that is, an election to include in gross income in the
year of transfer the amounts specified in Section 83(b)), the Participant
shall notify the Company of such election within 10 days of filing notice of
the election with the Internal Revenue Service and shall within the same 10-day
period remit to the Company an amount sufficient in the opinion of the Company
to satisfy any federal, state and other governmental tax withholding
requirements related to such inclusion in Participant’s income. The Participant
should consult with his or her tax advisor to determine the tax consequences of
acquiring the Restricted Stock and the advantages and disadvantages of filing
the Section 83(b) election. 
The Participant acknowledges that it is his or her sole responsibility,
and not the Company’s, to file a timely election under Section 83(b), even
if the Participant requests the Company or its representatives to make this
filing on his or her behalf.

 

17.           Participant
Acknowledgment.  The Participant hereby acknowledges receipt of a
copy of the Plan.  The Participant hereby acknowledges that all
decisions, determinations and interpretations of the Committee in respect of
the Plan, this Agreement and the Restricted Stock shall be final and
conclusive.

 

IN
WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by
its duly authorized officer, and the Participant has hereunto signed this
Agreement on his own behalf, thereby representing that he has carefully read
and understands this Agreement and the Plan as of the day and year first
written above.

 

 

	
   

  	
  GENERAL
  MARITIME CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  John C. Georgiopoulos

  
	
   

  	
  Name:

  	
  John
  C. Georgiopoulos

  
	
   

  	
  Title:

  	
  Executive
  Vice President, Treasurer and Secretary

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/
  Peter S. Shaerf

  
	
   

  	
  PETER
  S. SHAERF

  

 

5Exhibit 10.1

 

	
  

  	
   

  	
  EXECUTION VERSION

  

 

 

CREDIT AGREEMENT

 

Dated as of August 9, 2010

 

by and among

 

COMMONWEALTH REIT,

as
Borrower,

 

THE FINANCIAL INSTITUTIONS PARTY HERETO

AND THEIR ASSIGNEES UNDER SECTION 12.6.,

as Lenders,

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as
Administrative Agent,

 

BANK OF AMERICA, N.A.,

as
Syndication Agent,

and

 

REGIONS BANK,

ROYAL BANK OF CANADA

and

SUMITOMO MITSUI BANKING CORPORATION,

as
Documentation Agents

 

and

 

WELLS FARGO SECURITIES, LLC

and

BANC OF AMERICA SECURITIES LLC,

as
Joint Lead Arrangers and

Joint
Lead Bookrunners

 

 

TABLE OF CONTENTS

 

	
  Article I. Definitions

  	
  1

  
	
   

  	
   

  
	
  Section 1.1. Definitions

  	
  1

  
	
  Section 1.2. General;
  References to Eastern Time

  	
  24

  
	
   

  	
   

  
	
  Article II. Credit Facility

  	
  24

  
	
   

  	
   

  
	
  Section 2.1. Revolving Loans

  	
  24

  
	
  Section 2.2. Letters of
  Credit

  	
  25

  
	
  Section 2.3. Swingline Loans

  	
  30

  
	
  Section 2.4. Rates and
  Payment of Interest on Loans

  	
  32

  
	
  Section 2.5. Number of
  Interest Periods

  	
  32

  
	
  Section 2.6. Repayment of
  Loans

  	
  33

  
	
  Section 2.7. Prepayments

  	
  33

  
	
  Section 2.8. Continuation

  	
  33

  
	
  Section 2.9. Conversion

  	
  34

  
	
  Section 2.10. Notes

  	
  34

  
	
  Section 2.11. Voluntary
  Reductions of the Commitment

  	
  34

  
	
  Section 2.12. Extension of
  Termination Date

  	
  35

  
	
  Section 2.13. Expiration
  Date of Letters of Credit Past Commitment Termination

  	
  35

  
	
  Section 2.14. Amount
  Limitations

  	
  35

  
	
  Section 2.15. Increase in
  Commitments

  	
  36

  
	
  Section 2.16. Funds Transfer
  Disbursements

  	
  37

  
	
   

  	
   

  
	
  Article III. Payments, Fees and Other General
  Provisions

  	
  38

  
	
   

  	
   

  
	
  Section 3.1. Payments

  	
  38

  
	
  Section 3.2. Pro Rata
  Treatment

  	
  38

  
	
  Section 3.3. Sharing of
  Payments, Etc.

  	
  39

  
	
  Section 3.4. Several
  Obligations

  	
  40

  
	
  Section 3.5. Fees

  	
  40

  
	
  Section 3.6. Computations

  	
  41

  
	
  Section 3.7. Usury

  	
  41

  
	
  Section 3.8. Statements of
  Account

  	
  41

  
	
  Section 3.9. Defaulting Lenders

  	
  41

  
	
  Section 3.10. Taxes; Foreign
  Lenders

  	
  45

  
	
   

  	
   

  
	
  Article IV. Yield Protection, Etc.

  	
  46

  
	
   

  	
   

  
	
  Section 4.1. Additional
  Costs; Capital Adequacy

  	
  46

  
	
  Section 4.2. Suspension of
  LIBOR Loans

  	
  48

  
	
  Section 4.3. Illegality

  	
  48

  
	
  Section 4.4. Compensation

  	
  48

  
	
  Section 4.5. Treatment of
  Affected Loans

  	
  49

  
	
  Section 4.6. Affected
  Lenders

  	
  50

  
	
  Section 4.7. Change of
  Lending Office

  	
  50

  
	
  Section 4.8. Assumptions Concerning
  Funding of LIBOR Loans

  	
  50

  
	
   

  	
   

  
	
  Article V. Conditions
  Precedent

  	
  51

  
	
   

  	
   

  
	
  Section 5.1. Initial
  Conditions Precedent

  	
  51

  
	
  Section 5.2. Conditions
  Precedent to All Loans and Letters of Credit

  	
  53

  

 

i

 

	
  Article VI. Representations
  and Warranties

  	
  53

  
	
   

  	
   

  
	
  Section 6.1. Representations
  and Warranties

  	
  53

  
	
  Section 6.2. Survival of
  Representations and Warranties, Etc.

  	
  59

  
	
   

  	
   

  
	
  Article VII. Affirmative
  Covenants

  	
  60

  
	
   

  	
   

  
	
  Section 7.1. Preservation of
  Existence and Similar Matters

  	
  60

  
	
  Section 7.2. Compliance with
  Applicable Law and Material Contracts

  	
  60

  
	
  Section 7.3. Maintenance of
  Property

  	
  60

  
	
  Section 7.4. Conduct of
  Business

  	
  60

  
	
  Section 7.5. Insurance

  	
  61

  
	
  Section 7.6. Payment of
  Taxes and Claims

  	
  61

  
	
  Section 7.7. Books and
  Records; Inspections

  	
  61

  
	
  Section 7.8. Use of Proceeds

  	
  61

  
	
  Section 7.9. Environmental
  Matters

  	
  62

  
	
  Section 7.10. Further
  Assurances

  	
  62

  
	
  Section 7.11. REIT Status

  	
  62

  
	
  Section 7.12. Exchange
  Listing

  	
  62

  
	
  Section 7.13. Guarantors

  	
  62

  
	
   

  	
   

  
	
  Article VIII. Information

  	
  63

  
	
   

  	
   

  
	
  Section 8.1. Quarterly
  Financial Statements

  	
  63

  
	
  Section 8.2. Year-End
  Statements

  	
  63

  
	
  Section 8.3. Compliance
  Certificate

  	
  64

  
	
  Section 8.4. Other
  Information

  	
  64

  
	
  Section 8.5. Electronic Delivery
  of Certain Information

  	
  66

  
	
  Section 8.6. Public/Private
  Information

  	
  67

  
	
  Section 8.7. USA Patriot Act
  Notice; Compliance

  	
  67

  
	
   

  	
   

  
	
  Article IX. Negative
  Covenants

  	
  67

  
	
   

  	
   

  
	
  Section 9.1. Financial
  Covenants

  	
  67

  
	
  Section 9.2. Negative Pledge

  	
  68

  
	
  Section 9.3. Restrictions on
  Intercompany Transfers

  	
  69

  
	
  Section 9.4. Merger,
  Consolidation, Sales of Assets and Other Arrangements

  	
  69

  
	
  Section 9.5. Plans

  	
  70

  
	
  Section 9.6. Fiscal Year

  	
  70

  
	
  Section 9.7. Modifications
  of Organizational Documents and Material Contracts

  	
  70

  
	
  Section 9.8. Transactions
  with Affiliates

  	
  70

  
	
  Section 9.9. Environmental
  Matters

  	
  71

  
	
  Section 9.10. Derivatives
  Contracts

  	
  71

  
	
   

  	
   

  
	
  Article X. Default

  	
  71

  
	
   

  	
   

  
	
  Section 10.1. Events of
  Default

  	
  71

  
	
  Section 10.2. Remedies Upon
  Event of Default

  	
  74

  
	
  Section 10.3. Remedies Upon
  Default

  	
  75

  
	
  Section 10.4. Marshaling;
  Payments Set Aside

  	
  75

  
	
  Section 10.5. Allocation of
  Proceeds

  	
  76

  
	
  Section 10.6. Letter of
  Credit Collateral Account

  	
  76

  
	
  Section 10.7. Performance by
  Administrative Agent

  	
  77

  
	
  Section 10.8. Rights
  Cumulative

  	
  78

  

 

ii

 

	
  Article XI. The
  Administrative Agent

  	
  78

  
	
   

  	
   

  
	
  Section 11.1. Appointment
  and Authorization

  	
  78

  
	
  Section 11.2. Wells Fargo as
  Lender

  	
  79

  
	
  Section 11.3. Approvals of
  Lenders

  	
  79

  
	
  Section 11.4. Notice of
  Events of Default

  	
  80

  
	
  Section 11.5. Administrative
  Agent’s Reliance

  	
  80

  
	
  Section 11.6. Indemnification
  of Administrative Agent

  	
  80

  
	
  Section 11.7. Lender Credit
  Decision, Etc.

  	
  81

  
	
  Section 11.8. Successor Administrative
  Agent

  	
  82

  
	
  Section 11.9. Titled Agents

  	
  82

  
	
   

  	
   

  
	
  Article XII. Miscellaneous

  	
  83

  
	
   

  	
   

  
	
  Section 12.1. Notices

  	
  83

  
	
  Section 12.2. Expenses

  	
  84

  
	
  Section 12.3. Stamp, Intangible
  and Recording Taxes

  	
  85

  
	
  Section 12.4. Setoff

  	
  85

  
	
  Section 12.5. Litigation;
  Jurisdiction; Other Matters; Waivers

  	
  86

  
	
  Section 12.6. Successors and
  Assigns

  	
  87

  
	
  Section 12.7. Amendments and
  Waivers

  	
  90

  
	
  Section 12.8. Nonliability
  of Administrative Agent and Lenders

  	
  91

  
	
  Section 12.9.
  Confidentiality

  	
  92

  
	
  Section 12.10. Indemnification

  	
  92

  
	
  Section 12.11. Termination;
  Survival

  	
  94

  
	
  Section 12.12. Severability
  of Provisions

  	
  95

  
	
  Section 12.13. GOVERNING LAW

  	
  95

  
	
  Section 12.14. Counterparts

  	
  95

  
	
  Section 12.15. Obligations
  with Respect to Loan Parties

  	
  95

  
	
  Section 12.16. Independence
  of Covenants

  	
  95

  
	
  Section 12.17. Limitation of
  Liability

  	
  95

  
	
  Section 12.18. Entire
  Agreement

  	
  96

  
	
  Section 12.19. Construction

  	
  96

  
	
  Section 12.20. Headings

  	
  96

  
	
  Section 12.21. LIABILITY OF
  TRUSTEES, ETC.

  	
  96

  

 

	
  SCHEDULE
  I

  	
  Commitments

  
	
  SCHEDULE
  1.1.(a)

  	
  Existing
  Letter of Credit

  
	
  SCHEDULE
  1.1.(b)

  	
  List
  of Loan Parties

  
	
  SCHEDULE
  6.1.(b)

  	
  Ownership
  Structure

  
	
  SCHEDULE
  6.1.(f)

  	
  Title
  to Properties; Liens

  
	
  SCHEDULE
  6.1.(g)

  	
  Indebtedness
  and Guaranties

  
	
  SCHEDULE
  6.1.(h)

  	
  Material
  Contracts

  
	
  SCHEDULE
  6.1.(i)

  	
  Litigation

  
	
  SCHEDULE
  6.1.(s)

  	
  Affiliate
  Transactions

  
	
  SCHEDULE
  6.1.(t)

  	
  Intellectual
  Property

  
	
  SCHEDULE
  6.1.(z)

  	
  Unencumbered
  Assets; Unencumbered Mortgage Notes

  

 

iii

 

	
  EXHIBIT A

  	
  Form of
  Assignment and Assumption Agreement

  
	
  EXHIBIT B

  	
  Form of
  Guaranty

  
	
  EXHIBIT C

  	
  Form of
  Notice of Borrowing

  
	
  EXHIBIT D

  	
  Form of
  Notice of Continuation

  
	
  EXHIBIT E

  	
  Form of
  Notice of Conversion

  
	
  EXHIBIT F

  	
  Form of
  Notice of Swingline Borrowing

  
	
  EXHIBIT G

  	
  Form of
  Revolving Note

  
	
  EXHIBIT H

  	
  Form of
  Swingline Note

  
	
  EXHIBIT I

  	
  Form of
  Transfer Authorizer Designation Form

  
	
  EXHIBIT J

  	
  Form of
  Opinion of Counsel

  
	
  EXHIBIT K

  	
  Form of
  Compliance Certificate

  

 

iv

 

THIS
CREDIT AGREEMENT (this “Agreement”) dated as of August 9,
2010 by and among COMMONWEALTH REIT, a real estate investment trust
organized under the laws of the State of Maryland and formerly known as HRPT
Properties Trust (the “Borrower”), each of the financial institutions initially
a signatory hereto together with their successors and assignees under Section 12.6.
(the “Lenders”), WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Administrative Agent (the “Administrative Agent”), BANK
OF AMERICA, N.A., as Syndication Agent (the “Syndication Agent”), each of
REGIONS BANK, ROYAL BANK OF CANADA and SUMITOMO MITSUI BANKING CORPORATION, as
Documentation Agents (each a “Documentation Agent”), and each of WELLS FARGO
SECURITIES, LLC and BANC OF AMERICA SECURITIES LLC, as Joint Lead Arrangers and
Joint Lead Bookrunners (collectively, the “Lead Arrangers”).

 

WHEREAS,
the Administrative Agent, the Issuing Bank and the Lenders desire to make
available to the Borrower a revolving credit facility in the initial amount of
$750,000,000 which will include a $50,000,000 swingline subfacility and a
$50,000,000 letter of credit subfacility, on the terms and conditions contained
herein;

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged by the parties hereto, the parties hereto agree
as follows:

 

ARTICLE I. DEFINITIONS

Section 1.1.  Definitions.

 

In
addition to terms defined elsewhere herein, the following terms shall have the
following meanings for the purposes of this Agreement:

 

“Accession Agreement” means an Accession Agreement
substantially in the form of Annex I to the Guaranty.

 

“Additional Costs” has the meaning given that term in
Section 4.1.(b).

 

“Adjusted EBITDA” means, with respect to any period of time, EBITDA of
the Borrower and its Subsidiaries determined on a consolidated basis for such
period less Capital Expenditures Reserves for all Properties for such
period.

 

“Administrative Agent” means Wells Fargo
Bank, National Association as contractual representative of the Lenders under
this Agreement, or any successor Administrative Agent appointed pursuant to Section 11.8.

 

“Administrative Questionnaire” means the Administrative
Questionnaire completed by each Lender and delivered to the Administrative
Agent in a form supplied by the Administrative Agent to the Lenders from time
to time.

 

“Affiliate” means, with respect to a specified Person,
another Person that directly, or indirectly through one or more intermediaries,
Controls or is Controlled by or is under common Control with the Person
specified.  In no event shall the
Administrative Agent or any Lender be deemed to be an Affiliate of the
Borrower.

 

“Agreement Date” means the date as of which this Agreement is
dated.

 

 

“Applicable Facility Fee” means the percentage set forth in
the table below corresponding to the Level at which the “Applicable Margin” is
determined in accordance with the definition thereof:

 

	
  Level

  	
   

  	
  Facility Fee

  	
   

  
	
  1

  	
   

  	
  0.30

  	
  %

  
	
  2

  	
   

  	
  0.35

  	
  %

  
	
  3

  	
   

  	
  0.40

  	
  %

  
	
  4

  	
   

  	
  0.45

  	
  %

  
	
  5

  	
   

  	
  0.50

  	
  %

  

Any
change in the applicable Level at which the Applicable Margin is determined
shall result in a corresponding and simultaneous change in the Applicable
Facility Fee. The provisions of this definition shall be subject to Section 2.4.(c).

 

“Applicable Law” means all international, foreign, federal,
state and local statutes, treaties, rules, guidelines, regulations, ordinances,
codes, executive orders, and administrative or judicial precedents or
authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or
administration thereof, and all applicable administrative orders, directed
duties, requests, licenses, authorizations and permits of, and agreements with,
any Governmental Authority, in each case whether or not having the force of
law.

 

“Applicable Margin” means the percentage rate set forth below
corresponding to the Level (each a “Level”) into which the Borrower’s Credit
Rating then falls.  As of the Agreement
Date, the Applicable Margin is determined based on Level 3.  Any change in the Borrower’s Credit Rating
which would cause it to move to a different Level shall be effective as of the
first day of the first calendar month immediately following receipt by the
Administrative Agent of written notice delivered by the Borrower in accordance
with Section 8.4.(m) that the Borrower’s Credit Rating has changed; provided,
however, if the Borrower has not delivered the notice required by such Section but
the Administrative Agent becomes aware that the Borrower’s Credit Rating has
changed, then the Administrative Agent may, in its sole discretion, adjust the
Level effective as of the first day of the first calendar month following the
date the Administrative Agent becomes aware that the Borrower’s Credit Rating
has changed.  During any period that the
Borrower has received two Credit Ratings that are not equivalent, the
Applicable Margin shall be determined based on the Level corresponding to the
higher of such two Credit Ratings. 
During any period for which the Borrower has received a Credit Rating
from only one Rating Agency, then the Applicable Margin shall be determined
based on such Credit Rating.  During any
period that the Borrower has not received a Credit Rating from any Rating
Agency, then the Applicable Margin shall be determined based on Level 5.   The provisions of this definition shall be
subject to Section 2.4.(c).

 

	
  Level

  	
   

  	
  Borrower’s Credit

  Rating (S&P/Moody’s)

  	
   

  	
  Applicable Margin

  	
   

  
	
  1

  	
   

  	
  A-/A3
  or better

  	
   

  	
  1.75

  	
  %

  
	
  2

  	
   

  	
  BBB+/Baa1

  	
   

  	
  1.85

  	
  %

  
	
  3

  	
   

  	
  BBB/Baa2

  	
   

  	
  2.00

  	
  %

  
	
  4

  	
   

  	
  BBB-/Baa3

  	
   

  	
  2.30

  	
  %

  
	
  5

  	
   

  	
  Lower
  than BBB-/Baa3

  	
   

  	
  3.00

  	
  %

  

 

“Approved Fund” means any Fund that is administered or
managed by (a) a Lender, (b) an Affiliate of a Lender, or (c) an
entity or an Affiliate of any entity that administers or manages a Lender.

 

2

 

“Asset Under Development” means, as of any date of determination,
any Property owned by the Borrower or any of its Subsidiaries on which the
construction of new income-producing improvements has been commenced and is
continuing, with both the land and the improvements under construction thereon
which comprise such Property to be valued at the fully-budgeted cost, as
determined in accordance with GAAP.  In
the event of construction of an addition or expansion to an existing income
producing Property, only the addition or expansion shall be considered an Asset
Under Development.

 

“Assignment and Assumption” means an
Assignment and Assumption Agreement among a Lender, an Eligible Assignee and
the Administrative Agent, substantially in the form of Exhibit A.

 

“Bankruptcy Code” means the Bankruptcy Code of 1978, as amended.

 

“Base Rate” means the LIBOR Market Index Rate; provided, that
if for any reason the LIBOR Market Index Rate is unavailable, Base Rate shall
mean the per annum rate of interest equal to the Federal Funds Rate plus one
and one-half of one percent (1.50%).

 

“Base Rate Loan” means a Revolving Loan bearing interest at a
rate based on the Base Rate.

 

“Benefit Arrangement” means at any time an employee benefit
plan within the meaning of Section 3(3) of ERISA which is not a Plan
or a Multiemployer Plan and which is maintained or otherwise contributed to by
any member of the ERISA Group.

 

“Borrower” has the meaning set forth in the introductory
paragraph hereof and shall include the Borrower’s successors and permitted
assigns.

 

“Borrower Information” has the meaning given that term in
Section 2.4.(c).

 

“Business Day” means (a) a day of the week (but not a
Saturday, Sunday or holiday) on which the offices of the Administrative Agent
in San Francisco, California are open to the public for carrying on substantially
all of the Administrative Agent’s business functions, and (b) if such day
relates to a LIBOR Loan, any such day that is also a day on which dealings in
Dollars are carried on in the London interbank market.  Unless specifically referenced in this Agreement
as a Business Day, all references to “days” shall be to calendar days.

 

“Business Management Agreement” means that certain Business
Management Agreement dated as of June 8, 2009 by and between the Borrower
and RMR.

 

“Capital Expenditure Reserves” means, with respect to: (a) an
Office Property and for a given period, an amount equal to (i) the
aggregate rentable square footage of all completed space of such Office
Property, times (ii) $0.50, times (iii) the number of
days in such period, divided by (iv) 365; and (b) an
Industrial Property and for a given period, an amount equal to (i) the
aggregate rentable square footage of all completed space of such Industrial
Property, times (ii) $0.10, times (iii) the number of
days in such period, divided by (iv) 365; provided, however that no
Capital Expenditure Reserves shall be required with respect to any portion of
an Office Property or an Industrial Property which is net leased to a third
party.

 

“Capitalization Rate” means 8.75%.

 

“Capitalized Lease Obligation” means obligations under a
lease (to pay rent or other amounts under any lease or other arrangement
conveying the right to use) that are required to be capitalized for financial
reporting purposes in accordance with GAAP. 
The amount of a Capitalized Lease Obligation is

 

3

 

the
capitalized amount of such obligation as would be required to be reflected on a
balance sheet of the applicable Person prepared in accordance with GAAP as of
the applicable date.

 

“Cash Equivalents” means: (a) securities issued,
guaranteed or insured by the United States of America or any of its agencies
with maturities of not more than one year from the date acquired;
(b) certificates of deposit with maturities of not more than one year from
the date acquired issued by a United States federal or state chartered
commercial bank of recognized standing, or a commercial bank organized under
the laws of any other country which is a member of the Organisation for
Economic Cooperation and Development, or a political subdivision of any such
country, acting through a branch or agency, which bank has capital and
unimpaired surplus in excess of $500,000,000 and which bank or its holding
company has a short-term commercial paper rating of at least A-2 or the
equivalent by S&P or at least P-2 or the equivalent by Moody’s;
(c) reverse repurchase agreements with terms of not more than seven days
from the date acquired, for securities of the type described in clause (a) above
and entered into only with commercial banks having the qualifications described
in clause (b) above; (d) commercial paper issued by any Person
incorporated under the laws of the United States of America or any State
thereof and rated at least A-2 or the equivalent thereof by S&P or at least
P-2 or the equivalent thereof by Moody’s, in each case with maturities of not
more than one year from the date acquired; and (e) investments in money
market funds registered under the Investment Company Act of 1940, as amended,
which have net assets of at least $500,000,000 and at least 85% of whose assets
consist of securities and other obligations of the type described in
clauses (a) through (d) above.

 

“Commitment” means, as to each Lender (other than the
Swingline Lender), such Lender’s obligation to make Revolving Loans pursuant to
Section 2.1., to issue (in the case of the Issuing Bank) and to
participate (in the case of the other Lenders) in Letters of Credit pursuant to
Section 2.2.(i), and to participate in Swingline Loans pursuant to Section 2.3.(e),
in an amount up to, but not exceeding the amount set forth for such Lender on
Schedule I as such Lender’s “Commitment Amount” or as set forth in the
applicable Assignment and Assumption, as the same may be reduced from time to
time pursuant to Section 2.11. or increased or reduced as appropriate to
reflect any assignments to or by such Lender effected in accordance with
Section 12.6.

 

“Commitment Percentage” means, as to each Lender, the ratio,
expressed as a percentage, of (a) the amount of such Lender’s Commitment
to (b) the aggregate amount of the Commitments of all Lenders hereunder;
provided, however, that if at the time of determination the Commitments have
been terminated or been reduced to zero, the “Commitment Percentage” of each
Lender shall be the “Commitment Percentage” of such Lender in effect
immediately prior to such termination or reduction.

 

“Compliance Certificate” has the meaning given that term in
Section 8.3.

 

“Continue”, “Continuation”
and “Continued” each refers to the continuation
of a LIBOR Loan from one Interest Period to another Interest Period pursuant to
Section 2.8.

 

“Control” means the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or
otherwise.  “Controlling” and “Controlled”
have meanings correlative thereto.

 

“Convert”, “Conversion” and
“Converted” each refers to the
conversion of a Loan of one Type into a Loan of another Type pursuant to
Section 2.9.

 

“Credit Event” means any of the following: (a) the
making (or deemed making) of any Loan, (b) the Conversion of a Base Rate
Loan into a LIBOR Loan, (c) the Continuation of a LIBOR Loan and
(d) the issuance of a Letter of Credit.

 

4

 

“Credit Rating” means the rating assigned by a Rating Agency
to the senior unsecured long term Indebtedness of a Person.

 

“Debt Service” means, for any period, the sum of:
(a) Interest Expense of the Borrower and its Subsidiaries determined on a
consolidated basis for such period and (b) all regularly scheduled
payments made with respect to Indebtedness of the Borrower and its Subsidiaries
during such period, other than any balloon, bullet or similar principal payment
which repays such Indebtedness in full.

 

“Default” means any of the events specified in
Section 10.1., whether or not there has been satisfied any requirement for
the giving of notice, the lapse of time, or both.

 

“Defaulting Lender” means any Lender, as determined by the
Administrative Agent in good faith, that (a) has failed to fund (or has
failed, within 3 Business Days after request by the Administrative Agent, to
confirm that it will comply with the terms of this Agreement relating to its
obligations to fund) any portion of a Loan, participations in Letter of Credit
Liabilities under Section 2.2.(j) or participations in Swingline
Loans under Section 2.3.(e), in each case required to be funded by it
hereunder within one Business Day of the date required to be funded by it
hereunder, (b) has otherwise failed to pay to the Administrative Agent or
any other Lender any other amount required to be paid by it hereunder within
one Business Day of the date when due, unless such amount is the subject of a
good faith dispute, (c) has notified the Borrower, the Administrative
Agent or any other Lender in writing that, or has made a public statement to
the effect that, it does not intend to comply with any of its funding
obligations under this Agreement, or (d) has become or is
(i) insolvent or (ii) the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee or custodian appointed
for it, or has taken any action in furtherance of, or indicating its consent
to, approval of or acquiescence in any such proceeding or appointment.

 

“Derivatives Contract” means (a) any transaction
(including any master agreement, confirmation or other agreement with respect
to any such transaction) now existing or hereafter entered into by the Borrower
or any of its Subsidiaries (i) which is a rate swap transaction, swap
option, basis swap, forward rate transaction, commodity swap, commodity option,
equity or equity index swap, equity or equity index option, bond option,
interest rate option, foreign exchange transaction, cap transaction, floor
transaction, collar transaction, currency swap transaction, cross-currency rate
swap transaction, currency option, credit protection transaction, credit swap,
credit default swap, credit default option, total return swap, credit spread
transaction, repurchase transaction, reverse repurchase transaction,
buy/sell-back transaction, securities lending transaction, weather index
transaction or forward purchase or sale of a security, commodity or other
financial instrument or interest (including any option with respect to any of
these transactions) or (ii) which is a type of transaction that is similar
to any transaction referred to in clause (i) above that is currently, or
in the future becomes, recurrently entered into in the financial markets
(including terms and conditions incorporated by reference in such agreement)
and which is a forward, swap, future, option or other derivative on one or more
rates, currencies, commodities, equity securities or other equity instruments,
debt securities or other debt instruments, economic indices or measures of
economic risk or value, or other benchmarks against which payments or
deliveries are to be made, and (b) any combination of these transactions.

 

“Derivatives Termination Value” means, in respect of any one
or more Derivatives Contracts, after taking into account the effect of any
legally enforceable netting agreement or provision relating thereto, (a) for
any date on or after the date such Derivatives Contracts have been terminated
or closed out, the termination amount or value determined in accordance
therewith, and (b) for any date prior to the date such Derivatives
Contracts have been terminated or closed out, the then-current mark-to-market
value for such Derivatives Contracts, determined based upon one or more mid-market
quotations or

 

5

 

estimates
provided by any recognized dealer in Derivatives Contracts (which may include
the Administrative Agent, any Lender, any Specified Derivatives Provider or any
Affiliate of any thereof).

 

“Developable Property” means (a) any Property on which
there are no improvements (excluding land which is leased under a net lease to
a third party) or (b) any Property (or portion thereof) acquired by the
Borrower or any Subsidiary for the purpose of being developed by the Borrower
or any Subsidiary.

 

“Dollars” or “$” means the
lawful currency of the United States of America.

 

“EBITDA” means, with respect to a Person for a given period and without
duplication, the sum of (a) net income (or loss) of such Person for such
period determined on a consolidated basis exclusive  of the following (but only to the extent
included in the determination of such net income (loss) for such period):
(i) depreciation and amortization; (ii) interest expense;
(iii) income tax expense; (iv) extraordinary or nonrecurring items,
including without limitation, gains and losses from the sale of operating
Properties (but not from the sale of Properties developed for the purpose of
sale); and (v) in the case of Borrower and its Subsidiaries, equity in the
earnings (or loss) of GOV and other Unconsolidated Affiliates; plus (b) in the case of
the Borrower and its Subsidiaries cash dividends (other than extraordinary cash
dividends or distributions) received by the Borrower or its Subsidiaries from
GOV during such period; plus (c) such Person’s pro rata share of
EBITDA of its Unconsolidated Affiliates.  Straight line rent leveling adjustments
required under GAAP and amortization of intangibles pursuant to FASB ASC 805
shall be disregarded in the determination of EBITDA (to the extent such
adjustments would otherwise have been included in the determination of
EBITDA).  For purposes of this
definition, nonrecurring items shall be deemed to include (x) gains and
losses on early extinguishment of Indebtedness, (y) non-cash severance and
other non-cash restructuring charges and (z) transaction costs of
acquisitions not permitted to be capitalized pursuant to GAAP.

 

“Effective Date” means the later of (a) the Agreement
Date and (b) the date on which all of the conditions precedent set forth
in Section 5.1. shall have been fulfilled or waived.

 

“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 the Administrative Agent  (such approval not to be unreasonably
withheld or delayed); provided that notwithstanding the foregoing, “Eligible
Assignee” shall not include the Borrower or any of the Borrower’s Affiliates or
Subsidiaries.

 

“Environmental Laws” means any Applicable Law relating to
environmental protection or the manufacture, storage, remediation, disposal or
clean-up of Hazardous Materials including, without limitation, the following:
Clean Air Act, 42 U.S.C. § 7401 et seq.; Federal Water Pollution Control Act,
33 U.S.C. § 1251 et seq.; Solid Waste Disposal Act, as amended by the Resource
Conservation and Recovery Act, 42 U.S.C. § 6901 et seq.; Comprehensive
Environmental Response, Compensation and Liability Act, 42 U.S.C. § 9601
et seq.; National Environmental Policy Act, 42 U.S.C. § 4321 et seq.;
regulations of the Environmental Protection Agency, any applicable rule of
common law and any judicial interpretation thereof relating primarily to the
environment or Hazardous Materials, and any analogous or comparable state or
local laws, regulations or ordinances that concern Hazardous Materials or
protection of the environment.

 

“Equity Interest” means, with respect to any Person, any
share of capital stock of (or other ownership or profit interests in) such
Person, any warrant, option or other right for the purchase or other
acquisition from such Person of any share of capital stock of (or other
ownership or profit interests in) such Person whether or not certificated, any
security convertible into or exchangeable for any share of capital stock of (or
other ownership or profit interests in) such Person or warrant, right or option
for the purchase or other acquisition from such Person of such shares (or such
other interests), and any other

 

6

 

ownership
or profit interest in such Person (including, without limitation, partnership,
member or trust interests therein), whether voting or nonvoting, and whether or
not such share, warrant, option, right or other interest is authorized or
otherwise existing on any date of determination.

 

“Equity Issuance” means any issuance or sale by a Person of
any Equity Interest in such Person and shall in any event include the issuance
of any Equity Interest upon the conversion or exchange of any security
constituting Indebtedness that is convertible or exchangeable, or is being
converted or exchanged, for Equity Interests.

 

“ERISA” means the Employee Retirement Income Security Act of
1974, as in effect from time to time.

 

“ERISA Event” means, with respect to the ERISA Group,
(a) any “reportable event” as defined in Section 4043 of ERISA with
respect to a Plan (other than an event for which the 30-day notice period is
waived); (b) the withdrawal of a member of the ERISA Group from a Plan
subject to Section 4063 of ERISA during a plan year in which it was a “substantial
employer” as defined in Section 4001(a)(2) of ERISA or a cessation of
operations that is treated as such a withdrawal under Section 4062(e) of
ERISA; (c) the incurrence by a member of the ERISA Group of any liability
with respect to the withdrawal or partial withdrawal from any Multiemployer
Plan; (d) the incurrence by any member of the ERISA Group of any liability
under Title IV of ERISA with respect to the termination of any Plan or
Multiemployer Plan; (e) the institution of proceedings to terminate a Plan
or Multiemployer Plan by the PBGC; (f) the failure by any member of the
ERISA Group to make when due required contributions to a Multiemployer Plan or
Plan unless such failure is cured within 30 days or the filing pursuant to
Section 412(c) of the Internal Revenue Code or Section 302(c) of
ERISA of an application for a waiver of the minimum funding standard;
(g) any other event or condition that might reasonably be expected to
constitute grounds under Section 4042 of ERISA for the termination of, or
the appointment of a trustee to administer, any Plan or Multiemployer Plan or
the imposition of liability under Section 4069 or 4212(c) of ERISA;
(h) the receipt by any member of the ERISA Group of any notice or the  receipt by any Multiemployer Plan from any
member of the ERISA Group of any notice, concerning the imposition of
Withdrawal Liability or a determination that a Multiemployer Plan is, or is
expected to be, insolvent (within the meaning of Section 4245 of ERISA),
in reorganization (within the meaning of Section 4241 of ERISA), or in “critical”
status (within the meaning of Section 432 of the Internal Revenue Code or
Section 305 of ERISA); (i)  the imposition of any liability under
Title IV of ERISA, other  than for
PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any
member of the ERISA Group or the imposition of any Lien in favor of the PBGC
under Title IV of ERISA; or (j) a determination that a Plan is, or is
reasonably expected to be, in “at risk” status (within the meaning of
Section 430 of the Internal Revenue Code or Section 303 of ERISA).

 

“ERISA Group” means the Borrower, any Subsidiary and all
members of a controlled group of corporations and all trades or businesses
(whether or not incorporated) under common control, which, together with the
Borrower or any Subsidiary, are treated as a single employer under
Section 414 of the Internal Revenue Code.

 

“Event of Default” means any of the events specified in
Section 10.1., provided that any requirement for notice or lapse of time
or any other condition has been satisfied.

 

“Excluded Subsidiary” means any Subsidiary (a) which
holds title to assets which are or are to become collateral for any Secured
Indebtedness of such Subsidiary, is an owner of the Equity Interests of a
Subsidiary holding title to such assets (but has no assets other than such
Equity Interests and other assets of nominal value incidental thereto), or is
required to be a single purpose entity in connection with any Secured
Indebtedness and (b) which is prohibited from Guarantying the Indebtedness
of any other

 

7

 

Person
pursuant to (i) any document, instrument or agreement evidencing such
Secured Indebtedness, or (ii) a provision of such Subsidiary’s
organizational documents which provision was included in such Subsidiary’s
organizational documents as a condition to the extension of such Secured
Indebtedness.  Hub LA Limited Partnership shall be
deemed to be an Excluded Subsidiary so long as (x) it is a Subsidiary of
the Borrower and (y) any Person that is not an Affiliate of the Borrower
owns any Equity Interest in such Subsidiary.

 

“Excluded Taxes” means,
with respect to the Administrative Agent, any Lender or any other recipient of
any payment to be made by or on account of any obligation of the Borrower
hereunder, (a) taxes imposed on or measured by its assets, net
income (however denominated) or receipts, and franchise taxes imposed on it by the jurisdiction (or any
political subdivision thereof) under the laws of which such recipient is
organized or in which its principal office is located or, in the case of any
Lender, in which its applicable Lending Office is located, (b) any branch
profits taxes imposed by the United States of America or any similar tax
imposed by any other jurisdiction in which such Lender is located, (c) in
the case of a Foreign Lender (other than an Assignee pursuant to a request by
the Borrower under Section 4.6.), any withholding tax that is imposed on amounts payable to
such Foreign Lender at the time such Foreign Lender becomes a party hereto (or
designates a new Lending Office) or is attributable to such Foreign Lender’s
failure or inability (other than as a result of a Regulatory Change) to comply
with Section 3.10.(c),
except to the extent that such Foreign Lender (or its assignor, if any) was
entitled, at the time of designation of a new Lending Office (or assignment),
to receive additional amounts from the Borrower with respect to such
withholding tax pursuant to Section 3.10.(a), and (d) any taxes imposed by
Sections 1471 through Section 1474 of the Internal Revenue Code (including
any official interpretations thereof, collectively “FATCA”) on any “withholdable payment” payable to such recipient as a
result of the failure of such recipient to satisfy the applicable requirements
as set forth in FATCA after December 31, 2012.

 

“Existing Credit Agreement” means that certain Amended and
Restated Credit Agreement dated as of January 25, 2005 by and among the
Borrower, the financial institutions party thereto, Wells Fargo, as successor
to Wachovia Bank, National Association, as administrative agent, and the other
parties thereto.

 

“Existing Letter of Credit” means the letter of credit issued
under the Existing Credit Agreement and identified on Schedule 1.1(a).

 

“Fair Market Value”
means, (a) with respect to a security listed on a national securities
exchange or the NASDAQ National Market, the price of such security as reported
on such exchange or market by any widely recognized reporting method
customarily relied upon by financial institutions and (b) with respect to
any other property, the price which could be negotiated in an arm’s-length free
market transaction, for cash, between a willing seller and a willing buyer,
neither of which is under pressure or compulsion to complete the transaction.

 

“FASB ASC” means the Accounting Standards Codification of the
Financial Accounting Standards Board.

 

“Federal Funds Rate” means, for any period, a fluctuating
interest rate per annum equal for each day during such period to the weighted
average of the rates on overnight Federal funds transactions with members of
the Federal Reserve System arranged by Federal funds brokers, as published for
such day (or, if such day is not a Business Day, for the next preceding
Business Day) by the Federal Reserve Bank of New York, or, if such rate is not
so published for any day which is a Business Day, the average of the quotations
for such day on such transactions received by the Administrative Agent from
three Federal Funds brokers of recognized standing selected by the
Administrative Agent.

 

8

 

“Fee Letter” means that certain fee letter dated as of May 27,
2010, by and among the Borrower, the Administrative Agent and the Lead
Arrangers.

 

“Fees” means the fees and commissions provided for or
referred to in Section 3.5. and any other fees payable by the Borrower hereunder,
under any other Loan Document or under the Fee Letter.

 

“Fixed Charges” means, for any period, the sum (without
duplication) of (a) Debt Service for such period and (b) Preferred
Dividends for such period.

 

“Foreign Lender” means any Lender that is organized under the
laws of a jurisdiction other than that in which the Borrower is resident for
tax purposes.  For purposes of this
definition, the United States of America, each State thereof and the District
of Columbia shall be deemed to constitute a single jurisdiction.

 

“Fund” means any Person (other than a natural person) that is
(or will be) engaged in making, purchasing, holding or otherwise investing in
commercial loans and similar extensions of credit in the ordinary course of its
business.

 

“Funds From Operations” means, for any period, net income
available for common shareholders of the Borrower for such period determined on
a consolidated basis, exclusive of the following (to the extent included in the
determination of such net income): (a) depreciation and amortization; (b) gains
and losses from extraordinary or non-recurring items; (c) gains and losses
on sales of real estate; (d) gains and losses on investments in marketable
securities; (e) provisions/benefits for income taxes for such period; and
(f) Funds From Operations attributable to any Investment held, directly or
indirectly, by the Borrower in GOV; provided, however, cash
dividends in respect of such Investments in GOV that have been actually
received by the Borrower or any Subsidiary during such period, shall not be
excluded from Funds From Operations by virtue of this clause (f).

 

“GAAP” means generally accepted accounting principles in the
United States of America set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting
Standards Board (including Statement of Financial Accounting Standards No. 168,
“The FASB Accounting Standards Codification”) or in such other statements by
such other entity as may be approved by a significant segment of the accounting
profession in the United States of America, which are applicable to the
circumstances as of the date of determination.

 

“GOV” means Government Properties Income Trust, together with
its successors and assigns.

 

“Governmental Approvals” means all authorizations, consents,
approvals, licenses and exemptions of, registrations and filings with, and
reports to, all Governmental Authorities.

 

“Governmental Authority” means any national, state or local
government (whether domestic or foreign), any political subdivision thereof or
any other governmental, quasi-governmental, judicial, administrative, public or
statutory instrumentality, authority, body, agency, bureau, commission, board,
department or other entity (including, without limitation, the Federal Deposit
Insurance Corporation, the Comptroller of the Currency or the Federal Reserve
Board, any central bank or any comparable authority) or any arbitrator with
authority to bind a party at law.

 

“Guarantor” means any Person that is party to the Guaranty as
a “Guarantor” and shall in any event include each Material Subsidiary (unless
an Excluded Subsidiary).

 

9

 

“Guaranty”, “Guaranteed” or
to “Guarantee” as applied to any obligation
means and includes:  (a) a guaranty
(other than by endorsement of negotiable instruments for collection in the
ordinary course of business), directly or indirectly, in any manner, of any
part or all of such obligation, or (b) an agreement, direct or indirect,
contingent or otherwise, and whether or not constituting a guaranty, the
practical effect of which is to assure the payment or performance (or payment
of damages in the event of nonperformance) of any part or all of such
obligation whether by: (i) the purchase of securities or obligations,
(ii) the purchase, sale or lease (as lessee or lessor) of property or the
purchase or sale of services primarily for the purpose of enabling the obligor
with respect to such obligation to make any payment or performance (or payment
of damages in the event of nonperformance) of or on account of any part or all
of such obligation, or to assure the owner of such obligation against loss,
(iii) the supplying of funds to or in any other manner investing in the
obligor with respect to such obligation, (iv) repayment of amounts drawn
down by beneficiaries of letters of credit (including Letters of Credit), or
(v) the supplying of funds to or investing in a Person on account of all
or any part of such Person’s obligation under a Guaranty of any obligation or
indemnifying or holding harmless, in any way, such Person against any part or
all of such obligation.  As the context
requires, “Guaranty” shall also mean the guaranty executed and delivered
pursuant to Section 5.1. or 7.13. and substantially in the form of
Exhibit B.

 

“Hazardous Materials” means all or any of the following:
(a) substances that are defined or listed in, or otherwise classified
pursuant to, any applicable Environmental Laws as “hazardous substances”, “hazardous
materials”, “hazardous wastes”, “toxic substances” or any other formulation
intended to define, list or classify substances by reason of deleterious
properties such as ignitability, corrosivity, reactivity, carcinogenicity,
reproductive toxicity, “TCLP” toxicity, or “EP toxicity”; (b) oil,
petroleum or petroleum derived substances, natural gas, natural gas liquids or
synthetic gas and drilling fluids, produced waters and other wastes associated
with the exploration, development or production of crude oil, natural gas or
geothermal resources; (c) any flammable substances or explosives or any
radioactive materials; (d) asbestos in any form; (e) toxic mold; and
(f) electrical equipment which contains any oil or dielectric fluid
containing levels of polychlorinated biphenyls in excess of fifty parts per
million.

 

“Indebtedness” means, with respect to a Person, at the time
of computation thereof, all of the following (without duplication):
(a) all obligations of such Person (including Subordinated Debt) in
respect of money borrowed; (b) all obligations of such Person, whether or
not for money borrowed (i) represented by notes payable, or drafts
accepted, in each case representing extensions of credit, (ii) evidenced
by bonds, debentures, notes or similar instruments, or (iii) constituting
purchase money indebtedness, conditional sales contracts, title retention debt
instruments or other similar instruments, upon which interest charges are
customarily paid or that are issued or assumed as full or partial payment for
property or for services rendered; (c) Capitalized Lease Obligations of
such Person; (d) all reimbursement obligations (contingent or otherwise)
of such Person under or in respect of any letters of credit or acceptances
(whether or not the same have been presented for payment); (e) all
obligations, contingent or otherwise, of such Person under any synthetic lease,
tax retention operating lease, off balance sheet loan or similar off balance
sheet financing arrangement if the transaction giving rise to such obligation
(i) is considered indebtedness for borrowed money for tax purposes but is
classified as an operating lease under GAAP and (ii) does not (and is not
required to pursuant to GAAP) appear as a liability on the balance sheet of
such Person; (f) all obligations of such Person to purchase, redeem,
retire, defease or otherwise make any payment in respect of any Mandatorily
Redeemable Stock issued by such Person or any other Person, valued at the
greater of its voluntary or involuntary liquidation preference plus accrued and
unpaid dividends; (g) all obligations of such Person in respect of any
purchase obligation, repurchase obligation, takeout commitment or forward
equity commitment, in each case evidenced by a binding agreement (excluding any
such obligation to the extent the obligation can be satisfied by the issuance
of Equity Interests (other than Mandatorily Redeemable Stock)); (h) all

 

10

 

Indebtedness
of other Persons which such Person has Guaranteed or is otherwise recourse to
such Person; and (i) all Indebtedness of another Person secured by (or for
which the holder of such Indebtedness has an existing right, contingent or
otherwise, to be secured by) any Lien (other than Permitted Liens of the types
described in clauses (a) through (c) or (e) through (i) of
the definition thereof) on property or assets owned by such Person, even though
such Person has not assumed or become liable for the payment of such
Indebtedness or other payment obligation, valued, in the case of any such
Indebtedness as to which recourse for the payment thereof is expressly limited
to the property or assets on which such Lien is granted, at the lesser of (x) the
stated or determinable amount of the Indebtedness that is so secured or, if not
stated or determinable, the maximum reasonably anticipated liability in respect
thereof (assuming such Person is required to perform thereunder) and (y) the
Fair Market Value of such property or assets; and (j) such Person’s
Ownership Share of the Indebtedness of any Unconsolidated Affiliate of such
Person.

 

“Industrial Property” means a Property improved with, and
from which 80% of the rental income is derived from the use of such Property
as, industrial or warehouse space.

 

“Intellectual Property” has the meaning given that term in
Section 6.1.(t).

 

“Interest Expense” means, with respect to a
Person for any period of time, (a) the interest expense, whether paid, accrued
or capitalized (without deduction of consolidated interest income) of such
Person for such period plus (b) in the case of the Borrower, the Borrower’s
pro rata share of Interest Expense of its Unconsolidated Affiliates.  Interest Expense shall exclude any
amortization of (i) deferred financing fees and (ii) debt discounts
(but only to the extent such discounts do not exceed 3.0% of the initial face
principal amount of such debt).

 

“Interest Period” means, with respect to each LIBOR Loan,
each period commencing on the date such LIBOR Loan is made, or in the case of
the Continuation of a LIBOR Loan the last day of the preceding Interest Period
for such Loan, and ending 7 days thereafter or on the numerically corresponding
day in the first, third or sixth calendar month thereafter, as the Borrower may
select in a Notice of Borrowing, Notice of Continuation or Notice of
Conversion, as the case may be, except that each Interest Period (other than an
Interest Period having a duration of 7 days) that commences on the last
Business Day of a calendar month (or on any day for which there is no
numerically corresponding day in the appropriate subsequent calendar month)
shall end on the last Business Day of the appropriate subsequent calendar
month.

 

Notwithstanding
the foregoing: (i) if any Interest Period would otherwise end after the
Termination Date, such Interest Period shall end on the Termination Date; and
(ii) each Interest Period that would otherwise end on a day which is not a
Business Day shall end on the immediately following Business Day (or, if such
immediately following Business Day falls in the next calendar month, on the
immediately preceding Business Day).

 

“Internal Revenue Code” means the Internal Revenue Code of
1986, as amended.

 

“Investment” means, (x) with respect to any Person, any
acquisition or investment (whether or not of a controlling interest) by such
Person, by means of any of the following: (a) the purchase or other
acquisition of any Equity Interest in another Person, (b) a loan, advance
or extension of credit to, capital contribution to, Guaranty of Indebtedness
of, or purchase or other acquisition of any Indebtedness of, another Person,
including any partnership or joint venture interest in such other Person, or (c) the
purchase or other acquisition (in one transaction or a series of transactions)
of assets of another Person that constitute the business or a division or
operating unit of another Person and (y) with respect to any Property or
other asset, the acquisition thereof. 
Any commitment to make an Investment in any other

 

11

 

Person,
as well as any option of another Person to require an Investment in such
Person, shall constitute an Investment. 
Except as expressly provided otherwise, for purposes of determining
compliance with any covenant contained in a Loan Document, the amount of any
Investment shall be the amount actually invested, without adjustment for
subsequent increases or decreases in the value of such Investment.

 

“Issuing Bank” means Wells Fargo in its capacity as an issuer
of Letters of Credit pursuant to Section 2.2., or any other Lender that
has agreed to act as an issuer of Letters of Credit pursuant to
Section 2.2.  If, at any time, there
is more than one Issuing Bank, references in this Agreement to “Issuing Bank”
shall mean any or all of such Issuing Banks, as the context may require.

 

“L/C Commitment Amount” has the meaning given to that term in
Section 2.2.(a).

 

“Lender” means each financial institution from time to time
party hereto as a “Lender,” together with its respective successors and
permitted assigns, and, as the context requires, includes the Swingline Lender;
provided, however, that the term “Lender,” except as otherwise expressly
provided herein, shall exclude any Lender (or its Affiliates) in its capacity
as a Specified Derivatives Provider.

 

“Lending Office” means, for each Lender and for each Type of
Loan, the office of such Lender specified in such Lender’s Administrative
Questionnaire or in the applicable Assignment and Assumption, or such other
office of such Lender as such Lender may notify the Administrative Agent in
writing from time to time.

 

“Letter of Credit” has the meaning given that term in
Section 2.2.(a).

 

“Letter of Credit Collateral Account” means a special deposit
account maintained by the Administrative Agent, for the benefit of the Lenders
and the Issuing Bank, and under its sole dominion and control.

 

“Letter of Credit Documents” means, with respect to any
Letter of Credit, collectively, any application therefor, any certificate or
other document presented in connection with a drawing under such Letter of
Credit and any other agreement, instrument or other document governing or
providing for (a) the rights and obligations of the parties concerned or
at risk with respect to such Letter of Credit or (b) any collateral
security for any of such obligations.

 

“Letter of Credit Liabilities” means, without duplication, at
any time and in respect of any Letter of Credit, the sum of (a) the Stated
Amount of such Letter of Credit plus (b) the aggregate unpaid principal
amount of all Reimbursement Obligations of the Borrower at such time due and
payable in respect of all drawings made under such Letter of Credit.  For purposes of this Agreement, a Lender
(other than any Lender then acting as an Issuing Bank) shall be deemed to hold
a Letter of Credit Liability in an amount equal to its participation interest
under Section 2.2. in the related Letter of Credit, and the Lender then
acting as the Issuing Bank shall be deemed to hold a Letter of Credit Liability
in an amount equal to its retained interest in the related Letter of Credit
after giving effect to the acquisition by the Lenders (other than the Lender
then acting as the Issuing Bank) of their participation interests under such
Section.

 

“Level” has the meaning given that term in the definition of
the term “Applicable Margin.”

 

“LIBOR” means, for the Interest Period for any LIBOR Loan,
the rate of interest, rounded up to the nearest whole multiple of one-hundredth
of one percent (0.01%), obtained by dividing (i) the rate of interest,
rounded upward to the nearest whole multiple of one-hundredth of one percent
(0.01%), referred to as the BBA (British Bankers’ Association) LIBOR rate as
set forth by any service selected by the

 

12

 

Administrative
Agent that has been nominated by the British Bankers’ Association as an
authorized information vendor for the purpose of displaying such rate for
deposits in Dollars at approximately 10:00 a.m. Eastern time, two
(2) Business Days prior to the date of commencement of such Interest
Period for purposes of calculating effective rates of interest for loans or
obligations making reference thereto, for an amount approximately equal to the
applicable LIBOR Loan and for a period of time approximately equal to such
Interest Period by (ii) a percentage equal to 1 minus the
stated maximum rate (stated as a decimal) of all reserves, if any, required to
be maintained with respect to Eurocurrency funding (currently referred to as “Eurocurrency
liabilities”) as specified in Regulation D of the Board of Governors of the
Federal Reserve System (or against any other category of liabilities which
includes deposits by reference to which the interest rate on LIBOR Loans is
determined or any applicable category of extensions of credit or other assets
which includes loans by an office of any Lender outside of the United States of
America).  Any change in such maximum
rate shall result in a change in LIBOR on the date on which such change in such
maximum rate becomes effective.

 

“LIBOR Loan” means a Revolving Loan (other than a Base Rate
Loan) bearing interest at a rate based on LIBOR.

 

“LIBOR Market Index Rate” means, for any
day, LIBOR as of that day that would be applicable for a LIBOR Loan having a
one-month Interest Period determined at approximately 10:00 a.m. Eastern
time for such day (or if such day is not a Business Day, the immediately
preceding Business Day).  The LIBOR
Market Index Rate shall be determined on a daily basis.

 

“Lien” as applied to the property of any Person means:  (a) any security interest, encumbrance,
mortgage, deed to secure debt, deed of trust, assignment of leases and rents,
pledge, lien, hypothecation, assignment, charge or lease constituting a
Capitalized Lease Obligation, conditional sale or other title retention
agreement, or other security title or encumbrance of any kind in respect of any
property of such Person, or upon the income, rents or profits therefrom;
(b) any arrangement, express or implied, under which any property of such
Person is transferred, sequestered or otherwise identified for the purpose of
subjecting the same to the payment of Indebtedness or performance of any other
obligation in priority to the payment of the general, unsecured creditors of
such Person; (c) the filing of any financing statement under the UCC or
its equivalent in any jurisdiction, other than any precautionary filing not
otherwise constituting or giving rise to a Lien, including a financing
statement filed (i) in respect of a lease not constituting a Capitalized
Lease Obligation pursuant to Section 9-505 (or a successor provision) of
the UCC or its equivalent as in effect in an applicable jurisdiction or (ii) in
connection with a sale or other disposition of accounts or other assets not
prohibited by this Agreement in a transaction not otherwise constituting or
giving rise to a Lien; and (d) any agreement by such Person to grant, give
or otherwise convey any of the foregoing.

 

“Loan” means a Revolving Loan or a Swingline Loan.

 

“Loan Document” means this Agreement, each Note, each Letter
of Credit Document and each other document or instrument now or hereafter
executed and delivered by a Loan Party in connection with, pursuant to or
relating to this Agreement (other than the Fee Letter and any Specified
Derivatives Contract).

 

“Loan Party” means each of the Borrower and each other Person
who guarantees all or a portion of the Obligations and/or who pledges any
collateral to secure all or a portion of the Obligations.  Schedule 1.1.(b) sets forth the
Loan Parties in addition to the Borrower as of the Agreement Date.

 

“Mandatorily Redeemable Stock” means, with respect to any
Person, any Equity Interest of such Person which by the terms of such Equity
Interest (or by the terms of any security into which it is

 

13

 

convertible
or for which it is exchangeable or exercisable), upon the happening of any
event or otherwise, (a) matures or is mandatorily redeemable, pursuant to
a sinking fund obligation or otherwise (other than an Equity Interest to the
extent redeemable in exchange for common stock or other equivalent common
Equity Interests at the option of the issuer of such Equity Interest), (b) is
convertible into or exchangeable or exercisable for Indebtedness or Mandatorily
Redeemable Stock, or (c) is redeemable at the option of the holder
thereof, in whole or part (other than an Equity Interest which is redeemable
solely in exchange for common stock or other equivalent common Equity
Interests), in each case on or prior to the date on which all Loans are
scheduled to be due and payable in full.

 

“Marketable Securities” means (a) bank deposits and
certificates of deposit from a bank rated Baa1 or BBB+ or better by a Rating
Agency; (b) government obligations; and (c) commercial paper rated A1
or P1 by a Rating Agency.

 

“Material Adverse Effect” means a materially adverse effect
on (a) the business, assets, liabilities, financial condition, results of
operations or business prospects of the Borrower and its Subsidiaries taken as
a whole, (b) the ability of the Borrower or any other Loan Party to
perform its obligations under any Loan Document to which it is a party,
(c) the validity or enforceability of any of the Loan Documents,
(d) the rights and remedies of the Lenders, the Issuing Bank and the
Administrative Agent under any of the Loan Documents or (e) the timely
payment of the principal of or interest on the Loans or other amounts payable
in connection therewith or the timely payment of all Reimbursement Obligations.

 

“Material Contract” means any contract or other arrangement
(other than Loan Documents and Specified Derivatives Contracts), whether
written or oral, to which the Borrower, any Subsidiary or any other Loan Party
is a party as to which the breach, nonperformance, cancellation or failure to
renew by any party thereto could reasonably be expected to have a Material
Adverse Effect, and in any event shall include the Business Management
Agreement and the Property Management Agreement with respect to the Borrower.

 

“Material Subsidiary” means any Subsidiary to
which 2.0% or more of Total Asset Value is, directly or indirectly,
attributable.

 

“Moody’s” means Moody’s Investors Service, Inc. and its
successors.

 

“Mortgage” means a mortgage, deed of trust, deed to secure
debt or similar security instrument made by a Person owning an interest in real
estate granting a Lien on such interest in real estate as security for the
payment of Indebtedness.

 

“Mortgage Receivable” means a promissory
note secured by a Mortgage of which the Borrower or a Subsidiary is the holder
and retains the rights of collection of all payments thereunder.

 

“Multiemployer Plan” means at any time a multiemployer plan
within the meaning of Section 4001(a)(3) of ERISA to which any member
of the ERISA Group is then making or accruing an obligation to make
contributions or has within the preceding six plan years made contributions,
including for these purposes any Person which ceased to be a member of the
ERISA Group during such six-year period.

 

“Negative Pledge” means, with respect to a given asset, any
provision of a document, instrument or agreement (other than any Loan Document
or Specified Derivatives Contract) which prohibits or purports to prohibit the
creation or assumption of any Lien on such asset as security for Indebtedness
of the Person owning such asset or any other Person; provided, however, that an
agreement that conditions a Person’s ability to encumber its assets upon the
maintenance of one or more specified ratios that limit a

 

14

 

Person’s
ability to encumber its assets but that do not generally prohibit the
encumbrance of its assets, or the encumbrance of specific assets, shall not
constitute a Negative Pledge.

 

“Net Operating Income” means, with respect to a Property and
for a given period, the sum of the following (without duplication):
(a) rents (adjusted for straight-lining of rents and amortization of
intangibles pursuant to Statement of Financial Accounting Standards number 141
and the like) and other revenues received in the ordinary course from the
leasing or operating of such Property (including proceeds of rent loss
insurance but excluding pre-paid rents and revenues and security deposits
except to the extent applied in satisfaction of tenants’ obligations for rent) minus
(b) all expenses paid or accrued by the Borrower or a Subsidiary related
to the ownership, operation or maintenance of such Property, including but not
limited to taxes, assessments and other similar charges, insurance, utilities,
payroll costs, maintenance, repair and landscaping expenses, on-site marketing
expenses and property management fees equal to the greater of (i) actual
property management fees or (ii) three percent (3.0%) of the total gross
revenues for such Property for such period, but in any event excluding general
and administrative expenses of the Borrower and its Subsidiaries, minus
(c) Capital Expenditures Reserves with respect to such Property for such
period.

 

“Net Proceeds” means with respect to an Equity Issuance by a
Person, the aggregate amount of all cash and the Fair Market Value of all other
property (other than securities of such Person being converted or exchanged in
connection with such Equity Issuance) received by such Person in respect of
such Equity Issuance net of investment banking fees, legal fees, accountants’
fees, underwriting discounts and commissions and other customary fees and
expenses actually incurred by such Person in connection with such Equity
Issuance.

 

“Net Worth” means, with respect to any Person, such Person’s
total shareholder’s equity (including capital stock, additional paid-in capital
and retained earnings, after deducting treasury stock) which would appear as
such on a balance sheet of such Person prepared in accordance with GAAP.

 

“Non-Defaulting Lender” means any Lender that is not a
Defaulting Lender or Potential Defaulting Lender.

 

“Non-Domestic Property” means a Property located outside a
state of the United States of America and the District of Columbia.

 

“Nonrecourse Indebtedness” means, with respect to a Person, Indebtedness
for borrowed money in respect of which recourse for payment (except for
customary exceptions for fraud,
misapplication of funds, environmental indemnities, and other similar
exceptions to recourse liability) is contractually limited to specific
assets of such Person encumbered by a Lien securing such Indebtedness.

 

“Note” means a Revolving Note or a Swingline Note.

 

“Notice of Borrowing” means a notice substantially in the
form of Exhibit C (or such other form reasonably acceptable to the
Administrative Agent and containing the information required in such Exhibit)
to be delivered to the Administrative Agent pursuant to Section 2.1.(b) evidencing
the Borrower’s request for a borrowing of Revolving Loans.

 

“Notice of Continuation” means a notice substantially in the
form of Exhibit D (or such other form reasonably acceptable to the
Administrative Agent and containing the information required in such Exhibit)
to be delivered to the Administrative Agent pursuant to Section 2.8.
evidencing the Borrower’s request for the Continuation of a LIBOR Loan.

 

15

 

“Notice of Conversion” means a notice substantially in the
form of Exhibit E (or such other form reasonably acceptable to the
Administrative Agent and containing the information required in such Exhibit)
to be delivered to the Administrative Agent pursuant to Section 2.9.
evidencing the Borrower’s request for the Conversion of a Loan from one Type to
another Type.

 

“Notice of Swingline Borrowing” means a notice substantially
in the form of Exhibit F (or such other form reasonably acceptable to the
Administrative Agent and containing the information required in such Exhibit)
to be delivered to the Swingline Lender pursuant to Section 2.3.(b) evidencing
the Borrower’s request for a Swingline Loan.

 

“Obligations” means, individually and collectively:
(a) the aggregate principal balance of, and all accrued and unpaid
interest on, all Loans; (b) all Reimbursement Obligations and all other
Letter of Credit Liabilities; and (c) all other indebtedness, liabilities,
obligations, covenants and duties of the Borrower and the other Loan Parties
owing to the Administrative Agent, the Issuing Bank or any Lender of every
kind, nature and description, under or in respect of this Agreement or any of
the other Loan Documents, including, without limitation, the Fees and indemnification
obligations, whether direct or indirect, absolute or contingent, due or not
due, contractual or tortious, liquidated or unliquidated, and whether or not
evidenced by any promissory note.  For
the avoidance of doubt, “Obligations” shall not include Specified Derivatives
Obligations.

 

“OFAC” has the meaning given that term in
Section 6.1.(y).

 

“Office Property” means a Property improved with, and from
which at least 80% of the rental income is derived from the use of such
Property as, office space.

 

“Ownership Share” means, with respect to any Subsidiary of a
Person (other than a Wholly Owned Subsidiary) or any Unconsolidated Affiliate
of a Person, the greater of (a) such Person’s relative nominal direct and
indirect ownership interest (expressed as a percentage) in such Subsidiary or
Unconsolidated Affiliate or (b) subject to compliance with
Section 8.4.(l), such Person’s relative direct and indirect economic
interest (calculated as a percentage) in such Subsidiary or Unconsolidated
Affiliate determined in accordance with the applicable provisions of the
declaration of trust, articles or certificate of incorporation, articles of
organization, partnership agreement, joint venture agreement or other
applicable organizational document of such Subsidiary or Unconsolidated
Affiliate.

 

“Participant” has the meaning given that term in
Section 12.6.(d).

 

“PBGC” means the Pension Benefit Guaranty Corporation and any
successor agency.

 

“Permitted Liens” means, as to any Person: (a) Liens
securing taxes, assessments and other charges or levies imposed by any
Governmental Authority (excluding any Lien imposed pursuant to any of the
provisions of ERISA) or the claims of materialmen, mechanics, carriers,
warehousemen or landlords for labor, materials, supplies or rentals incurred in
the ordinary course of business, (i) which are not at the time required to
be paid or discharged under Section 7.6. or (ii) if such Lien is the responsibility of a
financially responsible tenant, mortgagor or manager to discharge;
(b) Liens consisting of deposits or pledges made, in the ordinary course
of business, in connection with, or to secure payment of, obligations under
workers’ compensation, unemployment insurance or similar Applicable Laws;
(c) Liens consisting of encumbrances in the nature of zoning restrictions,
easements, and rights or restrictions of record on the use of real property,
which do not materially detract from the value of such property or impair the
use thereof in the business of such Person and, in the case of the Borrower or
any Subsidiary, Liens granted by any tenant on its leasehold estate in a
Property which are subordinate to the interest of the Borrower or a Subsidiary
in such Property; (d) Liens in existence as of the Agreement Date and set
forth in Part II of

 

16

 

Schedule 6.1.(f); (e) deposits to secure
trade contracts (other than for Indebtedness), statutory obligations, surety
and appeal bonds, performance bonds and other obligations of a like nature
incurred in the ordinary course of business; (f) the lessor’s interest in
property leased to the Borrower or any of its Subsidiaries pursuant to a lease
permitted by this Agreement; (g) the interests of tenants, operators or
managers of Properties; (h) Liens in favor of the Agent for the benefit of
the Lenders, the Issuing Bank and the Specified Derivatives Providers; and
(i) Liens which are also secured by restricted cash or Cash Equivalents of
equal or greater value.

 

“Person” means any natural person, corporation, limited
partnership, general partnership, joint stock company, limited liability
company, limited liability partnership, joint venture, association, company,
trust, bank, trust company, land trust, business trust or other organization,
whether or not a legal entity, or any other nongovernmental entity, or any
Governmental Authority.

 

“Plan” means at any time an employee pension benefit plan
(other than a Multiemployer Plan) which is covered by Title IV of ERISA or
subject to the minimum funding standards under Section 412 of the Internal
Revenue Code and either (a) is maintained, or contributed to, by any
member of the ERISA Group for employees of any member of the ERISA Group or (b) has
at any time within the preceding six years been maintained, or contributed to,
by any Person which was at such time a member of the ERISA Group for employees
of any Person which was at such time a member of the ERISA Group.

 

“Post-Default Rate” means, in respect of any principal of any
Loan or any other Obligation that is not paid when due (whether at stated
maturity, by acceleration, by mandatory prepayment or otherwise), a rate per
annum equal to the Base Rate as in effect from time to time plus the
Applicable Margin plus four percent (4.0%).

 

“Potential
Defaulting Lender” means any Lender, as
reasonably determined by the Administrative Agent, the Swingline Lender or the
Issuing Bank, as applicable, that: (a) has failed to comply with, or has
made a public statement to the effect that it does not intend to comply with, its
funding obligations under one or more syndicated credit facilities or other
agreements in which it commits or is obligated to extend credit (other than
this Agreement); (b)  has a parent corporation or other Affiliate that is
subject to any condition or event described in the immediately preceding
clause (a); or (c) has, or whose parent corporation has, a Credit
Rating of less than BBB-/Baa3 (or equivalent) from either S&P or Moody’s.  As used in this definition, the term “parent
corporation” means, with respect to a Lender, any Person Controlling such
Lender, including without limitation, the bank holding company (as defined in
Regulation Y of the Board of Governors of the Federal Reserve System), if
any, of such Lender.

 

“Preferred Dividends” means, for any given period and without duplication, all Restricted
Payments accrued or paid (and in the case of Restricted Payments paid, which
were not accrued during a prior period) during such period on Preferred Stock
issued by the Borrower or a Subsidiary. 
Preferred Dividends shall not include dividends or distributions (a) paid
or payable solely in Equity Interests (other than Mandatorily Redeemable Stock)
payable to holders of such class of Equity Interests; (b) paid or payable
to the Borrower or a Subsidiary; or (c) constituting or resulting in the
redemption of Preferred Stock, other than scheduled redemptions not
constituting balloon, bullet or similar redemptions in full.

 

“Preferred Stock” means, with respect to any Person, shares
of capital stock of, or other Equity Interests in, such Person which are
entitled to preference or priority over any other capital stock of, or other
Equity Interest in, such Person in respect of the payment of dividends or
distribution of assets upon liquidation or both.

 

17

 

“Principal Office” means the office of the
Administrative Agent located at NorthStar East Building, MAC: N9303-110, 608
Second Avenue S., Minneapolis, Minnesota 55402, or any other subsequent office
that the Administrative Agent shall have specified as the Principal Office by
written notice to the Borrower and the Lenders.

 

“Property” means any parcel of real property owned or leased
(in whole or in part) or operated by the Borrower or any Subsidiary.

 

“Property EBITDA” means, with respect to a Property and for a
given period, the sum of the following (without duplication): (a) rents
(adjusted for straight-lining of rents and amortization of intangibles pursuant
to Statement of Financial Accounting Standards number 141 and the like) and
other revenues received in the ordinary course from the leasing or operating of
such Property (including proceeds of rent loss insurance but excluding pre-paid
rents and revenues and security deposits except to the extent applied in
satisfaction of tenants’ obligations for rent) minus (b) all
expenses paid or accrued by the Borrower or a Subsidiary related to the
ownership, operation or maintenance of such Property, including but not limited
to taxes, assessments and other similar charges, insurance, utilities, payroll
costs, maintenance, repair and landscaping expenses, on-site marketing expenses
and property management fees equal to the greater of (i) actual property
management fees or (ii) three percent (3.0%) of the total gross revenues
for such Property for such period, but in any event excluding general and
administrative expenses of the Borrower and its Subsidiaries.

 

“Property Management Agreement” means that certain Amended
and Restated Property Management Agreement dated as of January 21, 2010 by
and between RMR and the Borrower, on behalf of itself and its Subsidiaries.

 

“Qualified Plan” means a Benefit Arrangement that is intended
to be tax-qualified under Section 401(a) of the Internal Revenue
Code.

 

“Rating Agency” means S&P, Moody’s or any other
nationally recognized securities rating agency selected by the Borrower and
approved of by the Administrative Agent in writing.

 

“Register” has the meaning given that term in
Section 12.6.(c).

 

“Regulatory Change” means, with respect to any Lender, any
change effective after the Agreement Date in Applicable Law (including without
limitation, Regulation D of the Board of Governors of the Federal Reserve
System) or the adoption or making after such date of any interpretation, directive
or request applying to a class of banks, including such Lender, of or under any
Applicable Law (whether or not having the force of law and whether or not
failure to comply therewith would be unlawful) by any Governmental Authority or
monetary authority charged with the interpretation or administration thereof or
compliance by any Lender with any request or directive regarding capital
adequacy.

 

“Reimbursement Obligation” means the absolute, unconditional
and irrevocable obligation of the Borrower to reimburse the Issuing Bank for
any drawing honored by the Issuing Bank under a Letter of Credit.

 

“REIT” means a Person qualifying for treatment as a “real
estate investment trust” under the Internal Revenue Code.

 

“Related Parties” means, with respect to any Person, such
Person’s Affiliates and the partners, directors, officers, employees, agents
and advisors of such Person and of such Person’s Affiliates.

 

18

 

“Requisite Lenders” means, as of any date,
(a) Lenders having at least 51% of the aggregate amount of the Commitments
of all Lenders or (b) if the Commitments have been terminated or reduced
to zero, Lenders holding at least 51% of the principal amount of the aggregate
outstanding Loans and Letter of Credit Liabilities; provided, that (i) in
determining such percentage at any given time, all then existing Defaulting
Lenders will be disregarded and excluded, and (ii) at all times when two
or more Lenders (excluding Defaulting Lenders) are party to this Agreement, the
term “Requisite Lenders” shall in no event mean less than two Lenders.  For purposes of this definition, a Lender
shall be deemed to hold a Swingline Loan or a Letter of Credit Liability to the
extent such Lender has acquired a participation therein under the terms of this
Agreement and has not failed to perform its obligations in respect of such
participation.

 

“Responsible Officer” means (a) with respect to the
Borrower, the Borrower’s President or Treasurer or any Managing Trustee of the
Borrower and (b) with respect to any other Loan Party, such Loan Party’s
chief executive officer or chief financial officer.

 

“Restricted Payment” means: (a) any dividend or other
distribution, direct or indirect, on account of any shares of any class of
stock or other Equity Interest of the Borrower or any of its Subsidiaries now
or hereafter outstanding, except a dividend payable solely in shares of that
class of stock to the holders of that class; (b) any redemption,
conversion, exchange, retirement, sinking fund or similar payment, purchase or
other acquisition for value, direct or indirect, of any shares of any class of
stock or other Equity Interest of the Borrower or any of its Subsidiaries now
or hereafter outstanding; and (c) any payment made to retire, or to obtain
the surrender of, any outstanding warrants, options or other rights to acquire
any Equity Interests of the Borrower or any of its Subsidiaries now or
hereafter outstanding.

 

“Revolving Loan” means a loan made by a Lender to the
Borrower pursuant to Section 2.1.(a).

 

“Revolving Note” means a promissory note of
the Borrower substantially in the form of Exhibit G, payable to the order
of a Lender in a principal amount equal to the amount of such Lender’s
Commitment.

 

“RMR” means Reit Management & Research LLC, together
with its successors and permitted assigns.

 

“Secured Indebtedness” means, with respect
to a Person as of any given date, the aggregate principal amount of all
Indebtedness of such Person outstanding on such date that is secured in any
manner by any Lien on any property  and, in the
case of the Borrower, shall include (without duplication) the Borrower’s
Ownership Share of the Secured Indebtedness of any of its Unconsolidated
Affiliates.

 

“Securities Act” means the Securities Act of 1933, as amended
from time to time, together with all rules and regulations issued
thereunder.

 

“Solvent” means, when used with respect to any Person, that
(a) the fair value and the fair salable value of its assets (excluding any
Indebtedness due from any Affiliate of such Person) are each in excess of the
fair valuation of its total liabilities (including all contingent liabilities
computed at the amount which, in light of all facts and circumstances existing
at such time, represents the amount that could reasonably be expected to become
an actual and matured liability); (b) such Person is able to pay its debts
or other obligations in the ordinary course as they mature; and (c) such
Person has capital not unreasonably small to carry on its business and all business
in which it proposes to be engaged.

 

19

 

“Specified Derivatives Contract” means any Derivatives
Contract that is made or entered into at any time, or in effect at any time now
or hereafter, whether as a result of an assignment or transfer or otherwise,
between the Borrower or any Subsidiary of the Borrower and any Specified
Derivatives Provider.

 

“Specified Derivatives Obligations” means all indebtedness,
liabilities, obligations, covenants and duties of the Borrower or its
Subsidiaries under or in respect of any Specified Derivatives Contract, whether
direct or indirect, absolute or contingent, due or not due, liquidated or
unliquidated, and whether or not evidenced by any written confirmation.

 

“Specified Derivatives Provider” means any party to a
Derivatives Contract that is a Lender, or any Affiliate of a Lender, at the
time such Derivatives Contract is entered into.

 

“S&P” means Standard & Poor’s Rating Services, a
division of The McGraw-Hill Companies, Inc. and its successors.

 

“Stated Amount” means the amount available to be drawn by a
beneficiary under a Letter of Credit from time to time, as such amount may be
increased or reduced from time to time in accordance with the terms of such
Letter of Credit.

 

“Subordinated Debt” means Indebtedness for money borrowed of
the Borrower or any of its Subsidiaries that is subordinated in right of
payment and otherwise to the Loans, the other Obligations and the Specified
Derivatives Obligations, if any.

 

“Subsidiary” means, for any Person, any corporation,
partnership, limited liability company or other entity of which at least a
majority of the Equity Interests having by the terms thereof ordinary voting
power to elect a majority of the board of directors or other individuals
performing similar functions of such corporation, partnership, limited
liability company or other entity (without regard to the occurrence of any
contingency) is at the time directly or indirectly owned or controlled by such
Person or one or more Subsidiaries of such Person or by such Person and one or
more Subsidiaries of such Person, and
shall include all Persons the accounts of which are consolidated with those of
such Person pursuant to GAAP.

 

“Swingline Commitment” means the Swingline Lender’s
obligation to make Swingline Loans pursuant to Section 2.3.  in an amount up to, but not exceeding the
amount set forth in the first sentence of Section 2.3.(a), as such amount
may be reduced from time to time in accordance with the terms hereof.

 

“Swingline Lender” means Wells Fargo Bank, National
Association, together with its respective successors and assigns.

 

“Swingline Loan” means a loan made by the Swingline Lender to
the Borrower pursuant to Section 2.3.

 

“Swingline Maturity Date” means the date
which is seven (7) Business
Days prior to the Termination Date.

 

“Swingline Note” means the promissory note
of the Borrower substantially in the form of Exhibit H, payable to the
order of the Swingline Lender in a principal amount equal to the amount of the
Swingline Commitment as originally in effect and otherwise duly completed.

 

20

 

“Tangible Net Worth” means, as of any given time:
(a) the unallocated gross book value (exclusive of depreciation and amortization)
of all real estate assets of the Borrower and its Subsidiaries that constitute
Properties at such time; plus (b) the book value of other assets
(excluding any real estate assets) of the Borrower and its Subsidiaries; less
(c) the book value of the Borrower’s Investment in GOV; less
(d) all amounts appearing on the assets side of a consolidated balance
sheet of the Borrower for assets separately classified as intangible assets
under GAAP (except for allocations
of property purchase prices pursuant to Statement of Financial Accounting
Standards number 141 and the like); less (e) all Indebtedness
of the Borrower and its Subsidiaries determined on a consolidated basis; less
(f) all other liabilities of the Borrower and its Subsidiaries determined
on a consolidated basis (except liabilities resulting from allocations of
property purchase prices pursuant to Statement of Financial Accounting
Standards number 141 and the like).

 

“Taxes” has the meaning given that term in Section 3.10.

 

“Termination Date” means August 8, 2013, or such later
date to which the Termination Date may be extended pursuant to
Section 2.12.

 

“Total Asset Value” means the sum of the following (without
duplication) of the Borrower and its Subsidiaries for the fiscal quarter most
recently ended: (a)(i)(x) Property EBITDA determined on a consolidated
basis for such fiscal quarter and which is attributable to the Properties of
the Borrower and its Subsidiaries (excluding Property EBITDA attributable to
Properties either acquired or disposed of during such fiscal quarter) minus
(y) Capital Expenditure Reserves for such Properties for such fiscal
quarter times (ii) 4 and divided by (iii) the
applicable Capitalization Rate; (b) the purchase price paid for any
Property acquired during such fiscal quarter (less any amounts paid as a
purchase price adjustment, held in escrow, retained as a contingency reserve,
or other similar arrangements and prior to allocations of property purchase
prices pursuant to Statement of Financial Accounting Standards number 141 and
the like); (c) the value of the Borrower’s equity Investment in GOV, such
value determined at the lower of cost or Fair Market Value; (d) all
Marketable Securities, cash and cash equivalents; (e) accounts receivable
that are not (i) owing in excess of 90 days (or one year in the case of
any Governmental Authority of the United States of America (but not political
subdivisions thereof)) as of the end of such fiscal quarter or (ii) being
contested in writing by the obligor in respect thereof (in which case only such
portion being contested shall be excluded from Total Asset Value);
(f) prepaid taxes and operating expenses as of the end of such fiscal
quarter; (g) the book value of all Developable Property; (h) the book
value of all other tangible assets (excluding land or other real property) as
of the end of such fiscal quarter; (i) the book value of all Unencumbered
Mortgage Notes; and (j) the Borrower’s pro rata share of the preceding
items (other than those referred to in clause (c)) of any Unconsolidated
Affiliate of the Borrower.

 

“Total Indebtedness” means, as of a given date, all
liabilities of the Borrower and its Subsidiaries which would, in conformity
with GAAP, be properly classified as a liability on a consolidated balance
sheet of the Borrower and its Subsidiaries as of such date (excluding
allocations of property purchase prices pursuant to Statement of Financial
Accounting Standards number 141 and the like), and in any event shall include
(without duplication): (a) all Indebtedness of the Borrower and its
Subsidiaries, (b) the Borrower’s Ownership Share of Indebtedness of its
Unconsolidated Affiliates, and (c) net obligations of the Borrower and its
Subsidiaries under any Derivatives Contracts not entered into as a hedge
against existing Indebtedness, in an amount equal to the Derivatives
Termination Value thereof.

 

“Transfer Authorizer Designation Form” means a form
substantially in the form of Exhibit I to be delivered to the
Administrative Agent pursuant to Section 5.1.(a), as the same may be
amended, restated or modified from time to time with the prior written approval
of the Administrative Agent.

 

21

 

“Type” with respect to any Revolving Loan,
refers to whether such Loan or portion thereof is a LIBOR Loan or a Base Rate
Loan.

 

“UCC” means the Uniform Commercial Code as in effect in any
applicable jurisdiction.

 

“Unconsolidated Affiliate” means, with respect to any Person,
any other Person in whom such Person holds an Investment, which Investment is
accounted for in the financial statements of such Person on an equity basis of
accounting and whose financial results would not be consolidated under GAAP
with the financial results of such Person on the consolidated financial
statements of such Person.  For purposes
of this definition, Unconsolidated Affiliate shall not include GOV.

 

“Unencumbered Asset” means a Property which satisfies all of
the following requirements: (a) such Property is (i) owned in fee
simple solely by the Borrower or a Guarantor or (ii) leased solely by the
Borrower or a Guarantor pursuant to a ground lease having terms and conditions
reasonably acceptable to the Administrative Agent; (b) such Property is
not an Asset Under Development and is in service; (c) such Property is
used for office, industrial or retail uses, or any other use incidental
thereto, as currently in use at the Properties; (d) neither such Property,
nor any interest of the Borrower or such Guarantor therein, is subject to any
Lien (other than Permitted Liens of the types described in clauses (a) through
(c) or (e) through (i) of the definition thereof or Liens in
favor of the Borrower or a Guarantor) or to any Negative Pledge; (e) if
such Property is owned by a Subsidiary, (i) none of the Borrower’s direct
or indirect ownership interest in such Subsidiary is subject to any Lien (other
than Permitted Liens of the types described in clauses (a) through (c) or
(e) through (i) of the definition thereof or Liens in favor of the
Borrower or a Guarantor) or to any Negative Pledge and (ii) the Borrower
directly, or indirectly through a Subsidiary, has the right to sell, transfer
or otherwise dispose of such Property without the need to obtain the consent of
any Person; and (f) such Property is free of all structural defects or
major architectural deficiencies, title defects, environmental conditions or
other adverse matters which, individually or collectively, materially impair
the value of such Property.

 

“Unencumbered Asset Value” means, at any given time, the sum
of: (a)(i) Net Operating Income from all Unencumbered Assets for the
fiscal quarter most recently ending times (ii) 4 divided by (iii) the
Capitalization Rate; and (b) the
value of the Equity Interests in GOV owned by the Borrower, such value determined
at the lower of cost or Fair Market Value, so long as such Equity Interests are
not subject to any Liens (other than Permitted Liens of the types described in
clauses (a) through (c) or (e) through (i) of the
definition thereof) or to any Negative Pledge; and (c) unrestricted cash
and Cash Equivalents of the Borrower so long as such cash and Cash Equivalents
are not subject to any Liens (other than Permitted Liens of the types described
in clauses (a) through (c) or (e) through (i) of the
definition thereof) or to any Negative Pledge . 
To the extent that Equity Interests of GOV owned by the Borrower would account
for more than 10.0% of Unencumbered Asset Value, such excess shall be
excluded.  To the extent that Properties
leased by the Borrower or a Guarantor pursuant to a ground lease would, in the
aggregate, account for more than 5.0% of Unencumbered Asset Value, such excess
shall be excluded.  To the extent that
the Net Operating Income of Unencumbered Non-Domestic Properties would account
for more than 20.0% of Unencumbered Net Operating Income, such excess shall be
excluded.  With respect to any
Unencumbered Asset acquired during such fiscal quarter, Net Operating Income
attributable to such Unencumbered Asset shall be included in the calculation of
Unencumbered Asset Value on a pro forma basis reasonably acceptable to
Administrative Agent.  Net Operating
Income attributable to an Unencumbered Asset disposed of during the fiscal
quarter shall be excluded from the calculation of Unencumbered Asset Value.

 

“Unencumbered Mortgage Note” means a promissory note
satisfying all of the following requirements: (a) such promissory note is
owned solely by the Borrower or a Guarantor; (b) such

 

22

 

promissory
note is secured by a Lien on real property improved only with office buildings
or other improvements of a type similar to improvements located on the
Properties as of the Agreement Date; (c) neither such promissory note, nor
any interest of the Borrower or such Guarantor therein, is subject to any Lien
(other than Permitted Liens of the types described in clauses (a) through
(c) or (e) through (i) of the definition thereof or Liens in
favor of the Borrower or a Guarantor) or to any Negative Pledge; (d) if
such promissory note is owned by a Subsidiary, (i) none of the Borrower’s
direct or indirect ownership interest in such Subsidiary is subject to any Lien
(other than Permitted Liens of the types described in clauses (a) through
(c) or (e) through (i) of the definition thereof or Liens in
favor of the Borrower or a Guarantor) or to any Negative Pledge and
(ii) the Borrower directly, or indirectly through a Subsidiary, has the
right to sell, transfer or otherwise dispose of such promissory note without
the need to obtain the consent of any Person; and (d) such real property
and related improvements are not subject to any other Lien (other than
Permitted Liens of the types described in clauses (a) through (c) or (e) through
(i) of the definition thereof or Liens in favor of the Borrower or a
Guarantor).

 

“Unencumbered Net Operating Income” means the sum of
(a) Net Operating Income from all Unencumbered Assets for the fiscal
quarter most recently ending and (b) cash dividends received by the
Borrower or any of its Subsidiaries from GOV during the fiscal quarter most
recently ending.

 

“Unencumbered Non-Domestic Property” means a Non-Domestic
Property that is also an Unencumbered Asset.

 

“Unfunded Liabilities” means, with respect to any Plan at any
time, the amount (if any) by which (a) the value of all benefit
liabilities under such Plan, determined on a plan termination basis using the
assumptions prescribed by the PBGC for purposes of Section 4044 of ERISA,
exceeds (b) the fair market value of all Plan assets allocable to such
liabilities under Title IV of ERISA (excluding any accrued but unpaid
contributions), all determined as of the then most recent valuation date for
such Plan, but only to the extent that such excess represents a potential
liability of a member of the ERISA Group to the PBGC or any other Person under
Title IV of ERISA.

 

“Unimproved Land” means land on which no
development (other than improvements that are not material and are temporary in
nature) has occurred.

 

“Unsecured Debt Service” means, for a given period, Debt
Service for such period, with respect to Unsecured Indebtedness of the Borrower
and its Subsidiaries.

 

“Unsecured Indebtedness” means, with respect to a Person as
of any given date, the aggregate principal amount of all Indebtedness of such
Person outstanding at such date that is not Secured Indebtedness (excluding
Indebtedness associated with Unconsolidated Affiliates) and in the case of the
Borrower shall include (without duplication) Indebtedness that does not
constitute Secured Indebtedness. 
Indebtedness secured solely by a pledge of Equity Interests which is
also recourse to the Borrower or a Guarantor shall not be treated as Secured
Indebtedness.

 

“Wells Fargo” means Wells Fargo Bank, National Association,
and its successors and assigns.

 

“Wholly Owned Subsidiary” means any Subsidiary of a Person in
respect of which all of the Equity Interests (other than, in the case of a
corporation, directors’ qualifying shares) are at the time directly or
indirectly owned or controlled by such Person or one or more other Subsidiaries
of such Person or by such Person and one or more other Subsidiaries of such
Person.

 

“Withdrawal Liability” means any liability as a result of a
complete or partial withdrawal from a Multiemployer Plan as such terms are defined
in Part I of Subtitle E of Title IV of ERISA.

 

23

 

Section 1.2.  General; References to Eastern Time.

 

Unless
otherwise indicated, all accounting terms, ratios and measurements shall be
interpreted or determined in accordance with GAAP in effect as of the Agreement
Date.  Notwithstanding the preceding
sentence, the calculation of liabilities shall not include any fair value
adjustments to the carrying value of liabilities to record such liabilities at fair
value pursuant to electing the fair value option election under FASB ASC
825-10-25 (formerly known as FAS 159, The
Fair Value Option for Financial Assets and Financial Liabilities) or
other standards of the Financial Accounting
Standards Board allowing entities to elect fair value option for
financial liabilities. Accordingly, the amount of liabilities shall be the
historical cost basis, which generally is the contractual amount owed adjusted
for amortization or accretion of any premium or discount.  References in this Agreement to “Sections”, “Articles”,
“Exhibits” and “Schedules” are to sections, articles, exhibits and schedules
herein and hereto unless otherwise indicated. 
References in this Agreement to any document, instrument or agreement
(a) shall include all exhibits, schedules and other attachments thereto,
(b) shall include all documents, instruments or agreements issued or
executed in replacement thereof, to the extent permitted hereby and
(c) shall mean such document, instrument or agreement, or replacement or
predecessor thereto, as amended, supplemented, restated or otherwise modified
from time to time to the extent not otherwise stated herein or prohibited
hereby and in effect at any given time. 
Wherever from the context it appears appropriate, each term stated in
either the singular or plural shall include the singular and plural, and
pronouns stated in the masculine, feminine or neuter gender shall include the
masculine, the feminine and the neuter. 
Unless explicitly set forth to the contrary, a reference to “Subsidiary”
means a Subsidiary of the Borrower or a Subsidiary of such Subsidiary and a
reference to an “Affiliate” means a reference to an Affiliate of the
Borrower.  Titles and captions of
Articles, Sections, subsections and clauses in this Agreement are for
convenience only, and neither limit nor amplify the provisions of this
Agreement.  Unless otherwise indicated,
all references to time are references to Eastern time.

 

ARTICLE II. CREDIT FACILITY

 

Section 2.1.  Revolving Loans.

 

(a)           Making of Revolving Loans.  Subject to the terms and conditions set forth
in this Agreement, including without limitation, Section 2.14., each
Lender severally and not jointly agrees to make Revolving Loans to the Borrower
during the period from and including the Effective Date to but excluding the
Termination Date, in an aggregate principal amount at any one time outstanding
up to, but not exceeding, such Lender’s Commitment.  Each borrowing of Base Rate Loans shall be in
an aggregate minimum amount of $1,000,000 and integral multiples of $500,000 in
excess thereof.  Each borrowing and
Continuation under Section 2.8. of, and each Conversion under
Section 2.9. of Base Rate Loans into, LIBOR Loans shall be in an aggregate
minimum of $2,000,000 and integral multiples of $1,000,000 in excess of that
amount.  Notwithstanding the immediately
preceding two sentences but subject to Section 2.14., a borrowing of
Revolving Loans may be in the aggregate amount of the unused Commitments.  Within the foregoing limits and subject to
the terms and conditions of this Agreement, the Borrower may borrow, repay and
reborrow Revolving Loans.

 

(b)           Requests for Revolving Loans.
Not later than 10:00 a.m. Eastern time at least one (1) Business Day
prior to a borrowing of Revolving Loans that are to be Base Rate Loans and not
later than 10:00 a.m. Eastern time at least three (3) Business Days
prior to a borrowing of Revolving Loans that are to be LIBOR Loans, the
Borrower shall deliver to the Administrative Agent a Notice of Borrowing.  Each Notice of Borrowing shall specify the
aggregate principal amount of the Revolving Loans to be borrowed, the date such
Revolving Loans are to be borrowed (which must be a Business Day), the use of
the proceeds of such Revolving Loans, the Type of the requested Revolving
Loans, and if such Revolving

 

24

 

Loans
are to be LIBOR Loans, the initial Interest Period for such Revolving
Loans.  Each Notice of Borrowing shall be
irrevocable once given and binding on the Borrower.  Prior to delivering a Notice of Borrowing,
the Borrower may (without specifying whether a Revolving Loan will be a Base
Rate Loan or a LIBOR Loan) request that the Administrative Agent provide the
Borrower with the most recent LIBOR available to the Administrative Agent.  The Administrative Agent shall provide such
quoted rate to the Borrower on the date of such request or as soon as possible
thereafter.

 

(c)           Funding of Revolving Loans.  Promptly after receipt of a Notice of
Borrowing under the immediately preceding subsection (b),  the
Administrative Agent shall notify each Lender of the proposed borrowing.  Each Lender shall deposit an amount equal to
the Revolving Loan to be made by such Lender to the Borrower with the
Administrative Agent at the Principal Office, in immediately available funds
not later than 10:00 a.m. Eastern time on the date of such proposed
Revolving Loans.  Subject to fulfillment
of all applicable conditions set forth herein, the Administrative Agent shall
make available to the Borrower in the account specified in the Transfer
Authorizer Designation Form, not later than 1:00 p.m. Eastern time on the
date of the requested borrowing of Revolving Loans, the proceeds of such
amounts received by the Administrative Agent.

 

(d)           Assumptions Regarding Funding by
Lenders.  With respect to Revolving
Loans to be made after the Effective Date, unless the Administrative Agent
shall have been notified by any Lender that such Lender will not make available
to the Administrative Agent a Revolving Loan to be made by such Lender in
connection with any borrowing, the Administrative Agent may assume that such
Lender will make the proceeds of such Revolving Loan available to the
Administrative Agent in accordance with this Section, and the Administrative
Agent may (but shall not be obligated to), in reliance upon such assumption,
make available to the Borrower the amount of such Revolving Loan to be provided
by such Lender.  In such event, if such Lender
does not make available to the Administrative Agent the proceeds of such
Revolving Loan, then such Lender and the Borrower severally agree to pay to the
Administrative Agent on demand the amount of such Revolving Loan with interest
thereon, for each day from and including the date such Revolving Loan is made
available to the Borrower but excluding the date of payment to the
Administrative Agent, at (i) in the case of a payment to be made by such
Lender, the greater of the Federal Funds Rate and a rate determined by the
Administrative Agent in accordance with banking industry rules on
interbank compensation and (ii) in the case of a payment to be made by the
Borrower, the interest rate applicable to Base Rate Loans.  If the Borrower and such Lender shall pay the
amount of such interest to the Administrative Agent for the same or overlapping
period, the Administrative Agent shall promptly remit to the Borrower the
amount of such interest paid by the Borrower for such period.  If such Lender pays to the Administrative
Agent the amount of such Revolving Loan, the amount so paid shall constitute
such Lender’s Revolving Loan included in the borrowing.  Any payment by the Borrower shall be without
prejudice to any claim the Borrower may have against a Lender that shall have
failed to make available the proceeds of a Revolving Loan to be made by such
Lender.

 

Section 2.2.  Letters of Credit.

 

(a)           Letters of Credit.  Subject to the terms and conditions of this
Agreement, including without limitation, Section 2.14., the Issuing Bank,
on behalf of the Lenders, agrees to issue for the account of the Borrower
(which may be issued in support of obligations of any Subsidiary of the
Borrower) during the period from and including the Effective Date to, but
excluding, the date thirty (30) days prior to the Termination Date, one or more
standby letters of credit (each a “Letter of Credit”) up to a maximum aggregate
Stated Amount at any one time outstanding not to exceed $50,000,000 as such amount may be reduced from time to time in
accordance with the terms hereof (the “L/C Commitment Amount”).  The parties hereto agree that the Existing
Letter of Credit shall be deemed to be a Letter of Credit issued hereunder.

 

25

 

(b)           Terms of Letters of Credit.  At the time of issuance, the amount, form,
terms and conditions of each Letter of Credit, and of any drafts or acceptances
thereunder, shall be subject to approval by the Issuing Bank and the Borrower.  Notwithstanding the foregoing, in no event
may (i) the expiration date of any Letter of Credit extend beyond the
Termination Date, or (ii) any Letter of Credit have an initial duration in
excess of one year; provided, however, a Letter of Credit may contain a
provision providing for the automatic extension of the expiration date in the
absence of a notice of non-renewal from the Issuing Bank but in no event shall
any such provision permit the extension of the expiration date of such Letter
of Credit beyond the Termination Date; provided, further, that a Letter of
Credit may, as a result of its express terms or as the result of the effect of
an automatic extension provision, have an expiration date of not more than one
year beyond the Termination Date so long as the Borrower delivers to the
Administrative Agent for the benefit of the Issuing Bank no later than 30 days
prior to the Termination Date cash collateral for such Letter of Credit for
deposit into the Letter of Credit Collateral Account in an amount equal to the
Stated Amount of such Letter of Credit. 
The initial Stated Amount of each Letter of Credit shall be at least
$500,000 (or such lesser amount as may be acceptable to Issuing Bank,
Administrative Agent and the Borrower).

 

(c)           Requests for Issuance of Letters
of Credit.  The Borrower shall give
the Issuing Bank and the Administrative Agent written notice at least five (5)
Business Days prior to the requested date of issuance of a Letter of Credit,
such notice to describe in reasonable detail the proposed terms of such Letter
of Credit and the nature of the transactions or obligations proposed to be
supported by such Letter of Credit, and in any event shall set forth with
respect to such Letter of Credit the proposed (i) initial Stated Amount,
(ii) beneficiary, and (iii) expiration date. The Borrower shall also
execute and deliver such customary applications and agreements for standby
letters of credit, and other forms as requested from time to time by the
Issuing Bank.  Provided the Borrower has
given the notice prescribed by the first sentence of this subsection and
delivered such applications and agreements referred to in the preceding
sentence, subject to the other terms and conditions of this Agreement,
including the satisfaction of any applicable conditions precedent set forth in
Article 5.2., the Issuing Bank shall issue the requested Letter of Credit
on the requested date of issuance for the benefit of the stipulated beneficiary
but in no event shall the Issuing Bank be required to issue the requested Letter
of Credit prior to the date five (5) Business Days following the date after
which the Issuing Bank has received all of the items required to be delivered
to it under this subsection.  The Issuing
Bank shall not at any time issue any Letter of Credit if such issuance would
conflict with, or cause the Administrative Agent or any Lender to exceed any
limits imposed by, any Applicable Law. 
References herein to “issue” and derivations thereof with respect to
Letters of Credit shall also include extensions or modifications of any
outstanding Letters of Credit, unless the context otherwise requires.  Upon the written request of the Borrower, the
Issuing Bank shall deliver to the Borrower a copy of each issued Letter of
Credit within a reasonable time after the date of issuance thereof.  To the extent any term of a Letter of Credit
Document is inconsistent with a term of any Loan Document, the term of such
Loan Document shall control.

 

(d)           Reimbursement Obligations.  Upon receipt by the Issuing Bank from the
beneficiary of a Letter of Credit of any demand for payment under such Letter
of Credit, the Issuing Bank shall promptly notify the Borrower and the
Administrative Agent of the amount to be paid by the Issuing Bank as a result
of such demand and the date on which payment is to be made by the Issuing Bank
to such beneficiary in respect of such demand; provided, however, that the
Issuing Bank’s failure to give, or delay in giving, such notice shall not
discharge the Borrower in any respect from the applicable Reimbursement
Obligation.  The Borrower hereby
absolutely, unconditionally and irrevocably agrees to pay and reimburse the
Issuing Bank for the amount of each demand for payment under such Letter of
Credit at or prior to the date on which payment is to be made by the Issuing
Bank to the beneficiary thereunder, without presentment, demand, protest or
other formalities of any kind.  Upon
receipt by the Issuing Bank of any payment in respect of any Reimbursement
Obligation, the Issuing Bank shall promptly pay to each

 

26

 

Lender
that has acquired a participation therein under the second sentence of the
immediately following subsection (i) such Lender’s Commitment Percentage of
such payment.

 

(e)           Manner of Reimbursement.  Upon its receipt of a notice referred to in
the immediately preceding subsection (d), the Borrower shall advise the
Administrative Agent and the Issuing Bank whether or not the Borrower intends
to borrow hereunder to finance its obligation to reimburse the Issuing Bank for
the amount of the related demand for payment and, if it does, the Borrower
shall submit a timely request for such borrowing as provided in the applicable
provisions of this Agreement.  If the
Borrower fails to so advise the Administrative Agent and the Issuing Bank, or
if the Borrower fails to reimburse the Issuing Bank for a demand for payment
under a Letter of Credit by the date of such payment, the failure of which the
Issuing Bank shall promptly notify the Administrative Agent, then (i) if
the applicable conditions contained in Article V. would permit the making
of Revolving Loans, the Borrower shall be deemed to have requested a borrowing
of Revolving Loans (which shall be Base Rate Loans) in an amount equal to the
unpaid Reimbursement Obligation and the Administrative Agent shall give each
Lender prompt notice of the amount of the Revolving Loan to be made available
to the Administrative Agent not later than 11:00 a.m. Eastern time and
(ii) if such conditions would not permit the making of Revolving Loans,
the provisions of subsection (j) of this Section shall apply.  The limitations set forth in the second
sentence of Section 2.1.(a) shall not apply to any borrowing of Base Rate Loans
under this subsection.

 

(f)            Effect of Letters of Credit on
Commitments.  Upon the issuance by
the Issuing Bank of any Letter of Credit and until such Letter of Credit shall
have expired or been cancelled, the Commitment of each Lender shall be deemed
to be utilized for all purposes of this Agreement in an amount equal to the
product of (i) such Lender’s Commitment Percentage and (ii) the sum
of (A) the Stated Amount of such Letter of Credit plus (B) any related
Reimbursement Obligations then outstanding.

 

(g)           Issuing Bank’s Duties Regarding
Letters of Credit; Unconditional Nature of Reimbursement Obligations.  In examining documents presented in
connection with drawings under Letters of Credit and making payments under such
Letters of Credit against such documents, the Issuing Bank shall only be
required to use the same standard of care as it uses in connection with
examining documents presented in connection with drawings under letters of
credit in which it has not sold participations and making payments under such
letters of credit.  The Borrower assumes
all risks of the acts and omissions of, or misuse of the Letters of Credit by,
the respective beneficiaries of such Letters of Credit.  In furtherance and not in limitation of the
foregoing, none of the Issuing Bank, Administrative Agent or any of the Lenders
shall be responsible for, and the Borrower’s obligations in respect of Letters
of Credit shall not be affected in any manner by, (i) the form, validity,
sufficiency, accuracy, genuineness or legal effects of any document submitted
by any party in connection with the application for and issuance of or any
drawing honored under any Letter of Credit even if such document should in fact
prove to be in any or all respects invalid, insufficient, inaccurate,
fraudulent or forged; (ii) the validity or sufficiency of any instrument
transferring or assigning or purporting to transfer or assign any Letter of Credit,
or the rights or benefits thereunder or proceeds thereof, in whole or in part,
which may prove to be invalid or ineffective for any reason; (iii) failure
of the beneficiary of any Letter of Credit to comply fully with conditions
required in order to draw upon such Letter of Credit; (iv) errors,
omissions, interruptions or delays in transmission or delivery of any messages,
by mail, cable, facsimile, electronic mail, telecopy or otherwise, whether or
not they be in cipher; (v) errors in interpretation of technical terms;
(vi) any loss or delay in the transmission or otherwise of any document
required in order to make a drawing under any Letter of Credit, or of the
proceeds thereof; (vii) the misapplication by the beneficiary of any
Letter of Credit, or of the proceeds of any drawing under any Letter of Credit;
or (viii) any consequences arising from causes beyond the control of the
Issuing Bank, Administrative Agent or the Lenders.  None of the above shall affect, impair or
prevent the vesting of any of the Issuing Bank’s or Administrative Agent’s
rights or powers hereunder.  Any action
taken or omitted to be taken by the Issuing Bank under or in

 

27

 

connection
with any Letter of Credit, if taken or omitted in the absence of gross
negligence or willful misconduct (as determined by a court of competent
jurisdiction in a final, non-appealable judgment), shall not create against the
Issuing Bank any liability to the Borrower, the Administrative Agent or any
Lender.  In this connection, the
obligation of the Borrower to reimburse the Issuing Bank for any drawing made
under any Letter of Credit, and to repay any Revolving Loan made pursuant to
the second sentence of the immediately preceding subsection (e), shall be
absolute, unconditional and irrevocable and shall be paid strictly in
accordance with the terms of this Agreement and any other applicable Letter of
Credit Document under all circumstances whatsoever, including without
limitation, the following circumstances: (A) any lack of validity or
enforceability of any Letter of Credit Document or any term or provisions
therein; (B) any amendment or waiver of or any consent to departure from
all or any of the Letter of Credit Documents; (C) the existence of any
claim, setoff, defense or other right which the Borrower may have at any time
against the Issuing Bank, the Administrative Agent or any Lender, any beneficiary
of a Letter of Credit or any other Person, whether in connection with this
Agreement, the transactions contemplated hereby or in the Letter of Credit
Documents or any unrelated transaction; (D) any breach of contract or
dispute between the Borrower, the Issuing Bank, the Administrative Agent, any
Lender or any other Person; (E) any demand, statement or any other
document presented under a Letter of Credit proving to be forged, fraudulent,
invalid or insufficient in any respect or any statement therein or made in
connection therewith being untrue or inaccurate in any respect whatsoever;
(F) any non-application or misapplication by the beneficiary of a Letter
of Credit or of the proceeds of any drawing under such Letter of Credit;
(G) payment by the Issuing Bank under any Letter of Credit against
presentation of a draft or certificate which does not strictly comply with the
terms of such Letter of Credit; and (H) any other act, omission to act,
delay or circumstance whatsoever that might, but for the provisions of this
Section, constitute a legal or equitable defense to or discharge of the
Borrower’s Reimbursement Obligations. 
Notwithstanding anything to the contrary contained in this Section or
Section 12.10., but not in limitation of the Borrower’s unconditional
obligation to reimburse the Issuing Bank for any drawing made under a Letter of
Credit as provided in this Section and to repay any Revolving Loan made
pursuant to the second sentence of the immediately preceding
subsection (e), the Borrower shall have no obligation to indemnify the
Administrative Agent, the Issuing Bank or any Lender in respect of any
liability incurred by the Administrative Agent, the Issuing Bank or such Lender
arising solely out of the gross negligence or willful misconduct of the Administrative
Agent, the Issuing Bank or such Lender in respect of a Letter of Credit as
determined by a court of competent jurisdiction in a final, non-appealable
judgment.  Except as otherwise provided
in this Section, nothing in this Section shall affect any rights the Borrower
may have with respect to the gross negligence or willful misconduct of the
Administrative Agent, the Issuing Bank or any Lender with respect to any Letter
of Credit.

 

(h)           Amendments, Etc.  The issuance by the Issuing Bank of any amendment,
supplement or other modification to any Letter of Credit shall be subject to
the same conditions applicable under this Agreement to the issuance of new
Letters of Credit (including, without limitation, that the request therefor be
made through the Issuing Bank), and no such amendment, supplement or other
modification shall be issued unless either (i) the respective Letter of
Credit affected thereby would have complied with such conditions had it
originally been issued hereunder in such amended, supplemented or modified form
or (ii) the Administrative Agent and Requisite Lenders (or all of the
Lenders if required by Section 12.7.) shall have consented thereto.  In connection with any such amendment, supplement
or other modification, the Borrower shall pay the fees, if any, payable under
the last sentence of Section 3.5.(c).

 

(i)            Lenders’ Participation in Letters
of Credit.  Immediately upon the
issuance by the Issuing Bank of any Letter of Credit each Lender shall be
deemed to have absolutely, irrevocably and unconditionally purchased and
received from the Issuing Bank, without recourse or warranty, an undivided
interest and participation to the extent of such Lender’s Commitment Percentage
of the liability of the Issuing Bank with respect to such Letter of Credit and
each Lender thereby shall absolutely, unconditionally and irrevocably assume,
as primary obligor and not as surety, and shall be

 

28

 

unconditionally
obligated to the Issuing Bank to pay and discharge when due, to the extent and
in the manner set forth in the immediately following subsection (j) below, such
Lender’s Commitment Percentage of the Issuing Bank’s liability under such
Letter of Credit.  In addition, upon the
making of each payment by a Lender to the Administrative Agent for the account
of the Issuing Bank in respect of any Letter of Credit pursuant to the
immediately following subsection (j), such Lender shall, automatically and
without any further action on the part of the Issuing Bank, Administrative
Agent or such Lender, acquire (i) a participation in an amount equal to
such payment in the Reimbursement Obligation owing to the Issuing Bank by the
Borrower in respect of such Letter of Credit and (ii) a participation in a
percentage equal to such Lender’s Commitment Percentage in any interest or
other amounts payable by the Borrower in respect of such Reimbursement
Obligation (other than the Fees payable to the Issuing Bank pursuant to the
second and the last sentences of Section 3.5.(c)).

 

(j)            Payment Obligation of Lenders.  Each Lender severally agrees to pay to the
Administrative Agent, for the account of the Issuing Bank, on demand in
immediately available funds in Dollars the amount of such Lender’s Commitment
Percentage of each drawing paid by the Issuing Bank under each Letter of Credit
to the extent such amount is not reimbursed by the Borrower pursuant to the
immediately preceding subsection (d); provided, however, that in respect of any
drawing under any Letter of Credit, the maximum amount that any Lender shall be
required to fund, whether as a Revolving Loan or as a participation, shall not
exceed such Lender’s Commitment Percentage of such drawing.  If the notice referenced in the second
sentence of Section 2.2.(e) is received by a Lender not later than 10:00 a.m.
Eastern time, then such Lender shall make such payment available to the
Administrative Agent not later than 1:00 p.m. Eastern time on the date of
demand therefor; otherwise, such payment shall be made available to the
Administrative Agent not later than 12:00 p.m. Eastern time on the next
succeeding Business Day.  Each Lender’s
obligation to make such payments to the Administrative Agent under this
subsection, and the Administrative Agent’s right to receive the same for the
account of the Issuing Bank, shall be absolute, irrevocable and unconditional
and shall not be affected in any way by any circumstance whatsoever, including
without limitation, (i) the failure of any other Lender to make its
payment under this subsection, (ii) the financial condition of the
Borrower or any other Loan Party, (iii) the existence of any Default or
Event of Default, including any Event of Default described in
Section 10.1.(e) or (f) or
(iv) the termination of the Commitments. 
Each such payment to the Administrative Agent for the account of the
Issuing Bank shall be made without any offset, abatement, withholding or
deduction whatsoever.

 

(k)           Information to Lenders.  Promptly following any change in Letters of
Credit outstanding, the Issuing Bank shall deliver to the Administrative Agent,
who shall promptly deliver the same to each Lender and the Borrower, a notice
describing the aggregate amount of all Letters of Credit outstanding at such
time.  Upon the request of any Lender
from time to time, the Issuing Bank shall deliver any other information
reasonably requested by such Lender with respect to each Letter of Credit then
outstanding.  Other than as set forth in
this subsection, the Issuing Bank shall have no duty to notify the Lenders
regarding the issuance or other matters regarding Letters of Credit issued
hereunder.  The failure of the Issuing
Bank to perform its requirements under this subsection shall not relieve any
Lender from its obligations under the immediately preceding subsection (j).

 

(l)            Defaulting Lenders.  Upon demand by the Administrative Agent at
any time while a Lender is a Defaulting Lender or a Potential Defaulting
Lender, to the extent a reallocation cannot be, or can only partially be, or
has not been, effected under Section 3.9.(d), the Borrower shall deliver
to the Administrative Agent, for the benefit of the Issuing Bank, within one
Business Day of such demand, cash collateral or other credit support
satisfactory to the Issuing Bank in its sole discretion in an amount equal to
such Defaulting Lender’s or Potential Defaulting Lender’s Commitment Percentage
of the Letter of Credit Liabilities then outstanding.  Such cash collateral and other credit support
shall be subject to the provisions of Section 3.9.(f).

 

29

 

Section 2.3.  Swingline Loans.

 

(a)           Swingline Loans.  Subject to the terms and conditions hereof,
including without limitation Section 2.14., the Swingline Lender agrees to
make Swingline Loans to the Borrower, during the period from the Effective Date
to but excluding the Swingline Maturity Date, in an aggregate principal amount
at any one time outstanding up to, but not exceeding, $50,000,000, as such amount may be reduced from time to time in
accordance with the terms hereof.  If at
any time the aggregate principal amount of the Swingline Loans outstanding at
such time exceeds the Swingline Commitment in effect at such time, the Borrower
shall immediately pay the Administrative Agent for the account of the Swingline
Lender the amount of such excess. 
Subject to the terms and conditions of this Agreement, the Borrower may
borrow, repay and reborrow Swingline Loans hereunder.

 

(b)           Procedure for Borrowing Swingline
Loans.  The Borrower shall give the
Administrative Agent and the Swingline Lender notice pursuant to a Notice of
Swingline Borrowing or telephonic notice of each borrowing of a Swingline
Loan.  Each Notice of Swingline Borrowing
shall be delivered to the Swingline Lender no later than 10:00 a.m. Eastern
time on the proposed date of such borrowing. 
Any telephonic notice shall include all information to be specified in a
written Notice of Swingline Borrowing and shall be promptly confirmed in
writing by the Borrower pursuant to a Notice of Swingline Borrowing sent to the
Swingline Lender by telecopy on the same day of the giving of such telephonic
notice.  Not later than 12:00 p.m.
Eastern time on the date of the requested Swingline Loan and subject to satisfaction
of the applicable conditions set forth in Article 5.2. for such borrowing,
the Swingline Lender will make the proceeds of such Swingline Loan available to
the Borrower in Dollars, in immediately available funds, at the account
specified by the Borrower in the Notice of Swingline Borrowing.

 

(c)           Interest.  Swingline Loans shall bear interest at a per
annum rate equal to the Base Rate as in effect from time to time plus the
Applicable Margin or at such other rate or rates as the Borrower and the
Swingline Lender may agree from time to time in writing.  Interest on Swingline Loans is solely for the
account of the Swingline Lender (except to the extent a Lender acquires a
participating interest in a Swingline Loan pursuant to the immediately
following subsection (e)).  All accrued
and unpaid interest on Swingline Loans shall be payable on the dates and in the
manner provided in Section 2.4. with respect to interest on Base Rate
Loans (except as the Swingline Lender and the Borrower may otherwise agree in
writing in connection with any particular Swingline Loan).

 

(d)           Swingline Loan Amounts, Etc.  Each Swingline Loan shall be in the minimum
amount of $1,000,000 and integral multiples of $500,000 in excess thereof, or
such other minimum amounts agreed to by the Swingline Lender and the Borrower.  Any voluntary prepayment of a Swingline Loan
must be in integral multiples of $100,000 or the aggregate principal amount of
all outstanding Swingline Loans (or such other minimum amounts upon which the
Swingline Lender and the Borrower may agree) and in connection with any such
prepayment, the Borrower must give the Swingline Lender and the Administrative
Agent prior written notice thereof no later than 11:00 a.m. Eastern time
on the day prior to the date of such prepayment.  The Swingline Loans shall, in addition to
this Agreement, be evidenced by the Swingline Note.

 

(e)           Repayment and Participations of
Swingline Loans.  The Borrower agrees
to repay each Swingline Loan within one Business Day of demand therefor by the
Swingline Lender and, in any event, within five (5) Business Days after the date such Swingline Loan was
made; provided, that the proceeds of a Swingline Loan may not be used to pay a
Swingline Loan.  Notwithstanding the
foregoing, the Borrower shall repay the entire outstanding principal amount of,
and all accrued but unpaid interest on, the Swingline Loans on the Swingline
Maturity Date (or such earlier date as the Swingline Lender and the Borrower
may agree in writing).  In lieu of
demanding repayment of any outstanding Swingline Loan from the Borrower, the
Swingline Lender may, on behalf of the Borrower (which hereby irrevocably

 

30

 

directs
the Swingline Lender to act on its behalf), request a borrowing of Revolving
Loans that are Base Rate Loans from the Lenders in an amount equal to the
principal balance of such Swingline Loan. 
The amount limitations contained in the second sentence of
Section 2.1.(a) shall not apply to any borrowing of such Revolving Loans
made pursuant to this subsection.  The Swingline
Lender shall give notice to the Administrative Agent of any such borrowing of
Revolving Loans not later than 10:00 a.m. Eastern time at least one Business
Day prior to the proposed date of such borrowing.  Not later than 10:00 a.m. Eastern time on the
proposed date of such borrowing, each Lender will make available to the
Administrative Agent at the Principal Office for the account of the Swingline
Lender, in immediately available funds, the proceeds of the Revolving Loan to
be made by such Lender.  The
Administrative Agent shall pay the proceeds of such Revolving Loans to the
Swingline Lender, which shall apply such proceeds to repay such Swingline
Loan.  If the Lenders are prohibited from
making Revolving Loans required to be made under this subsection for any reason
whatsoever, including without limitation, the occurrence of any of the Defaults
or Events of Default described in Sections 10.1.(e) or (f)), each Lender
shall purchase from the Swingline Lender, without recourse or warranty, an undivided
interest and participation to the extent of such Lender’s Commitment Percentage
of such Swingline Loan, by directly purchasing a participation in such
Swingline Loan in such amount and paying the proceeds thereof to the
Administrative Agent for the account of the Swingline Lender in Dollars and in
immediately available funds.  A Lender’s
obligation to purchase such a participation in a Swingline Loan shall be
absolute and unconditional and shall not be affected by any circumstance
whatsoever, including without limitation, (i) any claim of setoff,
counterclaim, recoupment, defense or other right which such Lender or any other
Person may have or claim against the Administrative Agent, the Swingline Lender
or any other Person whatsoever, (ii) the occurrence or continuation of a
Default or Event of Default (including without limitation, any of the Defaults
or Events of Default described in Sections 10.1. (e) or (f)), or the
termination of any Lender’s Commitment, (iii) the existence (or alleged
existence) of an event or condition which has had or could have a Material
Adverse Effect, (iv) any breach of any Loan Document by the Administrative
Agent, any Lender, the Borrower or any other Loan Party, or (v) any other
circumstance, happening or event whatsoever, whether or not similar to any of
the foregoing.  If such amount is not in
fact made available to the Swingline Lender by any Lender, the Swingline Lender
shall be entitled to recover such amount on demand from such Lender, together
with accrued interest thereon for each day from the date of demand thereof, at
the Federal Funds Rate.  If such Lender
does not pay such amount forthwith upon the Swingline Lender’s demand therefor,
and until such time as such Lender makes the required payment, the Swingline
Lender shall be deemed to continue to have outstanding Swingline Loans in the
amount of such unpaid participation obligation for all purposes of the Loan
Documents (other than those provisions requiring the other Lenders to purchase
a participation therein).  Further, such
Lender shall be deemed to have assigned any and all payments made of principal
and interest on its Revolving Loans, and any other amounts due it hereunder, to
the Swingline Lender to fund Swingline Loans in the amount of the participation
in Swingline Loans that such Lender failed to purchase pursuant to this Section
until such amount has been purchased (as a result of such assignment or
otherwise).

 

(f)            Defaulting Lenders.  Upon demand by the Swingline Lender at any
time while a Lender is a Defaulting Lender or a Potential Defaulting Lender, to
the extent a reallocation cannot be, or can only partially be, or has not been,
effected under Section 3.9.(d), the Borrower shall deliver to the
Administrative Agent for the benefit of the Swingline Lender within one
Business Day of such demand, cash collateral or other credit support
satisfactory to the Swingline Lender in its sole discretion in an amount equal
to such Defaulting Lender’s or Potential Defaulting Lender’s Commitment
Percentage of the aggregate principal amount of the Swingline Loans then
outstanding.  Such cash collateral and
other credit support shall be subject to the provisions of
Section 3.9.(f).

 

31

 

Section 2.4.  Rates and Payment of Interest on Loans.

 

(a)           Rates.  The Borrower promises to pay to the
Administrative Agent for the account of each Lender interest on the unpaid
principal amount of each Loan made by such Lender for the period from and
including the date of the making of such Loan to but excluding the date such
Loan shall be paid in full, at the following per annum rates:

 

(i)            during such periods
as such Loan is a Base Rate Loan, at the Base Rate (as in effect from time to
time), plus the Applicable Margin; and

 

(ii)           during such periods
as such Loan is a LIBOR Loan, at LIBOR for such Loan for the Interest Period
therefor, plus the Applicable Margin.

 

Notwithstanding
the foregoing, while an Event of Default exists, the Borrower shall pay to the
Administrative Agent for the account of each Lender and the Issuing Bank, as
the case may be, interest at the Post-Default Rate on the outstanding principal
amount of any Loan made by such Lender, on all Reimbursement Obligations and on
any other amount payable by the Borrower hereunder or under the Notes held by
such Lender to or for the account of such Lender (including without limitation,
accrued but unpaid interest to the extent permitted under Applicable Law).

 

(b)           Payment of Interest. All
accrued and unpaid interest on the outstanding principal amount of each Loan
shall be payable (i) monthly in arrears on the first day of each month,
commencing with the first full calendar month occurring after the Effective
Date and (ii) on any date on which the principal balance of such Loan is
due and payable in full (whether at maturity, due to acceleration or
otherwise).  Interest payable at the
Post-Default Rate shall be payable from time to time on demand.  All determinations by the Administrative
Agent of an interest rate hereunder shall be conclusive and binding on the
Lenders and the Borrower for all purposes, absent manifest error.

 

(c)           Borrower Information Used to
Determine Applicable Interest Rates. 
The parties understand that the applicable interest rate for the
Obligations and certain fees set forth herein may be determined and/or adjusted
from time to time based upon certain financial ratios and/or other information
to be provided or certified to the Lenders by the Borrower (the “Borrower
Information”).  If it is subsequently
determined that any such Borrower Information was incorrect (for whatever
reason, including without limitation because of a subsequent restatement of
earnings by the Borrower) at the time it was delivered to the Administrative
Agent, and if the applicable interest rate or fees calculated for any period
were lower than they should have been had the correct information been timely
provided, then, such  interest rate
and such fees for such period shall be automatically recalculated using correct
Borrower Information.  The Administrative
Agent shall promptly notify the Borrower in writing of any additional interest
and fees due because of such recalculation, and the Borrower shall pay such
additional interest or fees due to the Administrative Agent, for the account of
each Lender, within five (5) Business Days of receipt of such written
notice.  Any recalculation of interest or
fees  required by this provision shall survive
the termination of this Agreement, and this provision shall not in any way
limit any of the Administrative Agent’s, the Issuing Bank’s, or any Lender’s
other rights under this Agreement.

 

Section 2.5.  Number of Interest Periods.

 

There
may be no more than 6 different Interest Periods for LIBOR Loans  outstanding at the same time.

 

32

 

Section 2.6.  Repayment of Loans.

 

The
Borrower shall repay the entire outstanding principal amount of, and all
accrued but unpaid interest on, the Revolving Loans on the Termination Date.

 

Section 2.7.  Prepayments.

 

(a)           Optional.  Subject to Section 4.4., the Borrower may
prepay any Loan at any time without premium or penalty.  The Borrower shall give the Administrative
Agent at least three (3) Business Days prior written notice of the prepayment
of any Loan.  Each voluntary prepayment
of Loans shall be in an aggregate minimum amount of $1,000,000 and integral
multiples of $500,000 in excess thereof.

 

(b)           Mandatory.

 

(i)            Commitment
Overadvance.  If at any time the
aggregate principal amount of all outstanding Revolving Loans and Swingline
Loans, together with the aggregate amount of all Letter of Credit Liabilities,
exceeds the aggregate amount of the Commitments, the Borrower shall immediately
upon demand pay to the Administrative Agent for the account of the Lenders, the
amount of such excess.

 

(ii)           Application of
Mandatory Prepayments.  Amounts paid
under the preceding subsection (b)(i) shall be applied to pay all amounts
of principal outstanding on the Loans and any Reimbursement Obligations pro
rata in accordance with Section 3.2.
and if any Letters of Credit are outstanding at such time, the remainder, if
any, shall be deposited into the Letter of Credit Collateral Account for
application to any Reimbursement Obligations. 
If the Borrower is required to pay any outstanding LIBOR Loans by reason
of this Section prior to the end of the applicable Interest Period therefor,
the Borrower shall pay all amounts due under Section 4.4.

 

Section 2.8.  Continuation.

 

So
long as no Default or Event of Default exists, the Borrower may on any Business
Day, with respect to any LIBOR Loan, elect to maintain such LIBOR Loan or any
portion thereof as a LIBOR Loan by selecting a new Interest Period for such
LIBOR Loan.  Each Continuation of a LIBOR
Loan shall be in an aggregate minimum amount of $2,000,000 and integral
multiples of $1,000,000 in excess of that amount, and each new Interest Period
selected under this Section shall commence on the last day of the immediately
preceding Interest Period.  Each selection
of a new Interest Period shall be made by the Borrower giving to the
Administrative Agent a Notice of Continuation not later than 10:00 a.m.
Eastern time on the third Business Day prior to the date of any such
Continuation.  Such notice by the Borrower
of a Continuation shall be by telecopy, electronic mail or other similar form
of communication in the form of a Notice of Continuation, specifying
(a) the proposed date of such Continuation, (b) the LIBOR Loans and
portions thereof subject to such Continuation and (c) the duration of the
selected Interest Period, all of which shall be specified in such manner as is
necessary to comply with all limitations on Loans outstanding hereunder.  Each Notice of Continuation shall be
irrevocable by and binding on the Borrower once given.  Promptly after receipt of a Notice of
Continuation, the Administrative Agent shall notify each Lender of the proposed
Continuation.  If the Borrower shall fail
to select in a timely manner a new Interest Period for any LIBOR Loan in
accordance with this Section, such Loan will automatically, on the last day of
the current Interest Period therefor, continue as a LIBOR Loan with an Interest
Period of one month; provided, however that if a Default or Event of Default
exists, such Loan will automatically, on the last day of the current Interest
Period therefor, Convert into a Base Rate Loan notwithstanding the first
sentence of Section 2.9. or the Borrower’s failure to comply with any of
the terms of such Section.

 

33

 

Section 2.9.  Conversion.

 

The
Borrower may on any Business Day, upon the Borrower’s giving of a Notice of
Conversion to the Administrative Agent by telecopy, electronic mail or other
similar form of communication, Convert all or a portion of a Revolving Loan of
one Type into a Revolving Loan of another Type; provided, however, a Base Rate
Loan may not be Converted into a LIBOR Loan if a Default or Event of Default
exists.  Each Conversion of Base Rate
Loans into LIBOR Loans shall be in an aggregate minimum amount of $2,000,000
and integral multiples of $1,000,000 in excess of that amount.  Each such Notice of Conversion shall be given
not later than 10:00 a.m. Eastern time 3 Business Days prior to the date
of any proposed Conversion.  Promptly
after receipt of a Notice of Conversion, the Administrative Agent shall notify
each Lender of the proposed Conversion. 
Subject to the restrictions specified above, each Notice of Conversion
shall be by telecopy, electronic mail or other similar form of communication in
the form of a Notice of Conversion specifying (a) the requested date of
such Conversion, (b) the Type of Loan to be Converted, (c) the
portion of such Type of Loan to be Converted, (d) the Type of Loan such
Loan is to be Converted into and (e) if such Conversion is into a LIBOR
Loan, the requested duration of the Interest Period of such Loan.  Each Notice of Conversion shall be
irrevocable by and binding on the Borrower once given.

 

Section 2.10.  Notes.

 

(a)           Notes.  Except in the case of a Lender that has
requested not to receive a Revolving Note, the Revolving Loans made by each
Lender shall, in addition to this Agreement, also be evidenced by a Revolving
Note, payable to the order of such Lender in a principal amount equal to,
subject to Section 12.6.(b)(iv), the amount of its Commitment as
originally in effect and otherwise duly completed.  The Swingline Loans made by the Swingline
Lender to the Borrower shall, in addition to this Agreement, also be evidenced
by a Swingline Note payable to the order of the Swingline Lender.

 

(b)           Records.  The date, amount, interest rate, Type and
duration of Interest Periods (if applicable) of each Loan made by each Lender
to the Borrower, and each payment made on account of the principal thereof,
shall be recorded by such Lender on its books and such entries shall be binding
on the Borrower absent manifest error; provided, however, that (i) the failure
of a Lender to make any such record shall not affect the obligations of the
Borrower under any of the Loan Documents and (ii) if there is a
discrepancy between such records of a Lender and the statements of accounts
maintained by the Administrative Agent pursuant to Section 3.8., in the
absence of manifest error, the statements of account maintained by the
Administrative Agent pursuant to Section 3.8. shall be controlling.

 

(c)           Lost, Stolen, Destroyed or
Mutilated Notes.  Upon receipt by the
Borrower of (i) written notice from a Lender that a Note of such Lender
has been lost, stolen, destroyed or mutilated, and (ii)(A) in the case of loss,
theft or destruction, an unsecured agreement of indemnity from such Lender in
form reasonably satisfactory to the Borrower, or (B) in the case of
mutilation, upon surrender and cancellation of such Note, the Borrower shall at
its own expense execute and deliver to such Lender a new Note dated the date of
such lost, stolen, destroyed or mutilated Note.

 

Section 2.11.  Voluntary
Reductions of the Commitment.

 

The
Borrower shall have the right to terminate or reduce the aggregate unused
amount of the Commitments (for which purpose use of the Commitments shall be
deemed to include the aggregate amount of all Letter of Credit Liabilities and
the aggregate principal amount of all Swingline Loans) at any time and from
time to time without penalty or premium upon not less than five (5) Business
Days prior written notice to the Administrative Agent of each such termination
or reduction, which notice shall

 

34

 

specify
the effective date thereof and the amount of any such reduction (which in the
case of any partial reduction of the Commitments shall not be less than
$10,000,000 and integral multiples of $5,000,000 in excess of that amount in
the aggregate) and shall be irrevocable once given and effective only upon receipt
by the Administrative Agent (“Commitment Reduction Notice”).  Promptly after receipt of a Commitment
Reduction Notice the Administrative Agent shall notify each Lender of the
proposed termination or Commitment reduction. 
The Commitments, once reduced or terminated pursuant to this Section,
may not be increased or reinstated.  The
Borrower shall pay all interest on the Revolving Loans, and Fees under
Section 3.5.(b) with respect to the amount of the Commitment being
reduced, accrued to the date of such reduction or termination of the
Commitments to the Administrative Agent for the account of the Lenders,
including but not limited to any applicable compensation due to each Lender in
accordance with Section 4.4.

 

Section 2.12.  Extension of
Termination Date.

 

The Borrower shall have the right, exercisable one
time, to extend the current Termination Date by one year.  The Borrower may exercise such right only by
executing and delivering to the Administrative Agent at least 30 days but not
more than 90 days prior to the current Termination Date, a written request for
such extension (an “Extension Request”). 
The Administrative Agent shall notify the Lenders if it receives an
Extension Request promptly upon receipt thereof.  Subject to satisfaction of the following
conditions, the Termination Date shall be extended for one year effective upon
receipt by the Administrative Agent of the Extension Request and payment of the
fee referred to in the following clause (ii): (i) immediately prior to
such extension and immediately after giving effect thereto, (x) no Default
or Event of Default shall exist and (y) the representations and warranties
made or deemed made by the Borrower and each other Loan Party in the Loan
Documents to which any of them is a party, shall be true and correct in all
material respects on and as of the date of such extension with the same force
and effect as if made on and as of such date except to the extent that such
representations and warranties expressly relate solely to an earlier date (in
which case such representations and warranties shall have been true and correct
in all material respects on and as of such earlier date) and except for changes
in factual circumstances specifically and expressly permitted under the Loan
Documents and (ii) the Borrower shall have paid the Fees payable under
Section 3.5.(d).  At any time prior
to the effectiveness of any such extension, upon the Administrative Agent’s
request, the Borrower shall deliver to the Administrative Agent a certificate
from the chief executive officer or chief financial officer certifying the
matters referred to in the immediately preceding clauses (i)(x) and (i)(y).

 

Section 2.13.  Expiration
Date of Letters of Credit Past Commitment Termination.

 

If
on the date the Commitments are terminated or reduced to zero (whether
voluntarily, by reason of the occurrence of an Event of Default or otherwise),
there are any Letters of Credit outstanding hereunder with respect to which the
Borrower has not complied with the conditions set forth in the second proviso
of the second sentence of Section 2.2.(b), the Borrower shall, on such date,
pay to the Administrative Agent, for its benefit and the benefit of the Lenders
and the Issuing Bank, an amount of money sufficient to cause the balance of available
funds on deposit in the Letter of Credit Collateral Account to equal the
aggregate Stated Amount of such Letters of Credit for deposit into the Letter
of Credit Collateral Account.

 

Section 2.14.  Amount
Limitations.

 

Notwithstanding
any other term of this Agreement or any other Loan Document, no Lender shall be
required to make a Loan, the Issuing Bank shall not be required to issue a
Letter of Credit and no reduction of the Commitments pursuant to Section 2.11. shall take effect, if
immediately after the making of such Loan, the issuance of such Letter of
Credit or such reduction in the Commitments, the aggregate

 

35

 

principal
amount of all outstanding Revolving Loans and Swingline Loans, together with
the aggregate amount of all Letter of Credit Liabilities, would exceed the
aggregate amount of the Commitments at such time.

 

Section 2.15.  Increase in
Commitments.

 

The Borrower shall have the right at any time and
from time to time during the period beginning on the Effective Date to but
excluding the Termination Date to
request increases in the aggregate amount of the Commitments by providing
written notice to the Administrative Agent, which notice shall be irrevocable
once given; provided, however, that after giving effect to any
such increases the aggregate amount of the Commitments shall not exceed
$1,500,000,000 (less the aggregate amount of reductions of Commitments effected
pursuant to Section 2.11.).  Each such increase in the Commitments must be
an aggregate minimum amount of $50,000,000 and integral multiples of
$10,000,000 in excess thereof.  The
Administrative Agent, in consultation with the Borrower, shall manage all
aspects of the syndication of such increase in the Commitments, including decisions
as to the selection of the existing Lenders and/or other banks, financial
institutions and other institutional lenders to be approached with respect to
such increase and the allocations of the increase in the Commitments among such
existing Lenders and/or other banks, financial institutions and other
institutional lenders.  No Lender shall
be obligated in any way whatsoever to increase its Commitment or provide a new
Commitment, and any new Lender becoming a party to this Agreement in connection
with any such requested increase must be an Eligible Assignee.  If a new Lender becomes a party to this
Agreement, or if any existing Lender is increasing its Commitment, such Lender
shall on the date it becomes a Lender hereunder (or in the case of an existing
Lender, increases its Commitment) (and as a condition thereto) purchase from
the other Lenders its Commitment Percentage (determined with respect to the
Lenders’ respective Commitments and after giving effect to the increase of
Commitments) of any outstanding Revolving Loans, by making available to the
Administrative Agent for the account of such other Lenders, in same day funds,
an amount equal to the sum of (A) the portion of the outstanding principal
amount of such Revolving Loans to be purchased by such Lender, plus (B)
the aggregate amount of payments previously made by the other Lenders under
Section 2.2.(j) that have not been repaid, plus (C) interest
accrued and unpaid to and as of such date on such portion of the outstanding
principal amount of such Revolving Loans. 
The Borrower shall pay to the Lenders amounts payable, if any, to such
Lenders under Section 4.4. as a result of the prepayment of any such
Revolving Loans.  Effecting the increase
of the Commitments under this Section is subject to the following conditions
precedent:  (x) no Default or Event
of Default shall be in existence on the effective date of such increase,
(y) the representations and warranties made or deemed made by the Borrower
or any other Loan Party in any Loan Document to which such Loan Party is a
party shall be true and correct in all material respects on the effective date
of such increase except to the extent that such representations and warranties
expressly relate solely to an earlier date (in which case such representations
and warranties shall have been true and correct in all material respects on and
as of such earlier date) and except for changes in factual circumstances
specifically and expressly permitted hereunder, and (z)  the
Administrative Agent shall have received each of the following, in form and
substance satisfactory to the Administrative Agent:  (i) if not previously delivered to the
Administrative Agent, copies certified by the Secretary or Assistant Secretary
of (A) all corporate and other necessary action taken by the Borrower to authorize such increase and (B) all
corporate and other necessary action taken by each Guarantor authorizing the
guaranty of such increase; (ii) an opinion of counsel to the Borrower and
the Guarantors, and addressed to the Administrative Agent and the Lenders
covering such matters as reasonably requested by the Administrative Agent, and
(iii) new Revolving Notes executed by the Borrower, payable to any new Lenders
and replacement Revolving Notes executed by the Borrower, payable to any
existing Lenders increasing their Commitments, in the amount of such Lender’s
Commitment at the time of the effectiveness of the applicable increase in the
aggregate amount of the Commitments.  In
connection with any increase in the aggregate amount of the Commitments
pursuant to this Section 2.15. any Lender

 

36

 

becoming a party hereto shall execute such documents
and agreements as the Administrative Agent may reasonably request.

 

Section 2.16.  Funds
Transfer Disbursements.

 

(a)           Generally.  The Borrower hereby authorizes the
Administrative Agent to disburse the proceeds of any Loan made by the Lenders
or any of their Affiliates pursuant to the Loan Documents as requested by an
authorized representative of the Borrower to any of the accounts designated in
the Transfer Authorizer Designation Form. 
The Borrower agrees to be bound by any transfer request:
(i) authorized or transmitted by the Borrower; or (ii) made in the
Borrower’s name and accepted by the Administrative Agent in good faith and in
compliance with these transfer instructions, even if not properly authorized by
the Borrower.  The Borrower further
agrees and acknowledges that the Administrative Agent may rely solely on any
bank routing number or identifying bank account number or name provided by the
Borrower to effect a wire of funds transfer even if the information provided by
the Borrower identifies a different bank or account holder than named by the
Borrower.  The Administrative Agent is
not obligated or required in any way to take any actions to detect errors in
information provided by the Borrower.  If
the Administrative Agent takes any actions in an attempt to detect errors in
the transmission or content of transfer requests or takes any actions in an
attempt to detect unauthorized funds transfer requests, the Borrower agrees
that no matter how many times the Administrative Agent takes these actions the
Administrative Agent will not in any situation be liable for failing to take or
correctly perform these actions in the future and such actions shall not become
any part of the transfer disbursement procedures authorized under this
provision, the Loan Documents, or any agreement between the Administrative
Agent and the Borrower.  The Borrower
agrees to notify the Administrative Agent of any errors in the transfer of any
funds or of any unauthorized or improperly authorized transfer requests within
fourteen (14) days after the Administrative Agent’s confirmation to the
Borrower of such transfer.

 

(b)           Funds Transfer.  The Administrative Agent will, in its sole
discretion, determine the funds transfer system and the means by which each
transfer will be made.  The
Administrative Agent may delay or refuse to accept a funds transfer request if
the transfer would: (i) violate the terms of this authorization, (ii)
require use of a bank unacceptable to the Administrative Agent or any Lender or
prohibited by any Governmental Authority, (iii) cause the Administrative Agent
or any Lender to violate any Federal Reserve or other regulatory risk control
program or guideline or (iv) otherwise cause the Administrative Agent or any
Lender to violate any Applicable Law or regulation.

 

(c)           Limitation of Liability.  None of the Administrative Agent, the Issuing
Bank or any Lender shall be liable to the Borrower or any other parties for (i)
errors, acts or failures to act of others, including other entities, banks,
communications carriers or clearinghouses, through which the Borrower’s
transfers may be made or information received or transmitted, and no such
entity shall be deemed an agent of the Administrative Agent, the Issuing Bank
or any Lender, (ii) any loss, liability or delay caused by fires, earthquakes,
wars, civil disturbances, power surges or failures, acts of government, labor
disputes, failures in communications networks, legal constraints or other
events beyond Administrative Agent’s, Issuing Bank’s or any Lender’s control,
or (iii) any special, consequential, indirect or punitive damages, whether or
not (x) any claim for these damages is based on tort or contract or (y) the Administrative
Agent, the Issuing Bank, any Lender or the Borrower knew or should have known
the likelihood of these damages in any situation.  Neither the Administrative Agent, the Issuing
Bank nor any Lender makes any representations or warranties other than those
expressly made in this Agreement.

 

37

 

ARTICLE III. PAYMENTS, FEES AND
OTHER GENERAL PROVISIONS

 

Section 3.1.  Payments.

 

(a)           Payments by Borrower.  Except to the extent otherwise provided
herein, all payments of principal, interest, Fees and other amounts to be made
by the Borrower under this Agreement, the Notes or any other Loan Document
shall be made in Dollars, in immediately available funds, without setoff,
deduction or counterclaim, to the Administrative Agent at the Principal Office,
not later than 12:00 p.m. Eastern time on the date on which such payment shall
become due (each such payment made after such time on such due date to be
deemed to have been made on the next succeeding Business Day).  Subject to Section 10.5., the Borrower shall,
at the time of making each payment under this Agreement or any other Loan
Document, specify to the Administrative Agent the amounts payable by the
Borrower hereunder to which such payment is to be applied.  Each payment received by the Administrative
Agent for the account of a Lender under this Agreement or any Note shall be
paid to such Lender by wire transfer of immediately available funds in
accordance with the wiring instructions provided by such Lender to the
Administrative Agent from time to time, for the account of such Lender at the
applicable Lending Office of such Lender. 
Each payment received by the Administrative Agent for the account of the
Issuing Bank under this Agreement shall be paid to the Issuing Bank by wire
transfer of immediately available funds in accordance with the wiring instructions
provided by the Issuing Bank to the Administrative Agent from time to time, for
the account of the Issuing Bank.  In the
event the Administrative Agent fails to pay such amounts to such Lender or the
Issuing Bank, as the case may be, (i) by 5:00 p.m. Eastern time on the Business
Day such funds are received by the Administrative Agent, if such amounts are
received by 12:00 p.m. Eastern time on such date or (ii) by 5:00 p.m.
Eastern time on the Business Day following the date such funds are received by
the Administrative Agent, if such amounts are received after 12:00 p.m.
Eastern time on any Business Day, the Administrative Agent shall pay interest
on such amount until paid at a rate per annum equal to the Federal Funds Rate
from time to time in effect.  If the due
date of any payment under this Agreement or any other Loan Document would
otherwise fall on a day which is not a Business Day such date shall be extended
to the next succeeding Business Day and interest shall continue to accrue at
the rate, if any, applicable to such payment for the period of such extension.

 

(b)           Presumptions Regarding Payments by
Borrower.  Unless the Administrative
Agent shall have received notice from the Borrower prior to the date on which
any payment is due to the Administrative Agent for the account of the Lenders
or the Issuing Bank hereunder that the Borrower will not make such payment, the
Administrative Agent may assume that the Borrower has made such payment on such
date in accordance herewith and may (but shall not be obligated to), in
reliance upon such assumption, distribute to the Lenders or the Issuing Bank,
as the case may be, the amount due.  In
such event, if the Borrower has not in fact made such payment, then each of the
Lenders or the Issuing Bank, as the case may be, severally agrees to repay to
the Administrative Agent on demand that amount so distributed to such Lender or
the Issuing Bank, with interest thereon, for each day from and including the
date such amount is distributed to it to but excluding the date of payment to
the Administrative Agent, at the greater of the Federal Funds Rate and a rate
determined by the Administrative Agent in accordance with banking industry
rules on interbank compensation.

 

Section 3.2.  Pro Rata Treatment.

 

Except
to the extent otherwise provided herein: (a) each borrowing from the
Lenders under Section 2.1.(a), 2.2.(e) and 2.3.(e) shall be made from the
Lenders, each payment of the fees under Section 3.5.(a), Section 3.5.(b),
the first sentence of Section 3.5.(c), and Section 3.5.(d) shall be made for
the account of the Lenders, and each termination or reduction of the amount of
the Commitments under Section 2.11. shall be applied to the respective
Commitments of the Lenders, pro rata according to the amounts of their respective
Commitments; (b) each payment or prepayment of principal of Revolving

 

38

 

Loans
shall be made for the account of the Lenders pro rata in accordance with the
respective unpaid principal amounts of the Revolving Loans held by them,
provided that, subject to Section 3.9., if immediately prior to giving
effect to any such payment in respect of any Revolving Loans the outstanding
principal amount of the Revolving Loans shall not be held by the Lenders pro
rata in accordance with their respective Commitments in effect at the time such
Revolving Loans were made, then such payment shall be applied to the Revolving
Loans in such manner as shall result, as nearly as is practicable, in the
outstanding principal amount of the Revolving Loans being held by the Lenders
pro rata in accordance with their respective Commitments; (c) each payment of
interest on Revolving Loans shall be made for the account of the Lenders pro
rata in accordance with the amounts of interest on such Revolving Loans then
due and payable to the respective Lenders; (d) the making, Conversion and
Continuation of Revolving Loans of a particular Type (other than Conversions
provided for by Section 4.1.) shall be made pro rata among the Lenders
according to the amounts of their respective Revolving Loans and the then
current Interest Period for each Lender’s portion of each such Loan of such
Type shall be coterminous; (e) the Lenders’ participation in, and payment
obligations in respect of, Swingline Loans under Section 2.3., shall be in
accordance with their respective Commitment Percentages; and (f) the
Lenders’ participation in, and payment obligations in respect of, Letters of
Credit under Section 2.2., shall be in accordance with their respective
Commitment Percentages.  All payments of
principal, interest, fees and other amounts in respect of the Swingline Loans
shall be for the account of the Swingline Lender only (except to the extent any
Lender shall have acquired a participating interest in any such Swingline Loan
pursuant to Section 2.3.(e), in which case such payments shall be pro rata
in accordance with such participating interests).  Any payment or prepayment of principal or
interest made during the existence of a Default or Event of Default shall be
made for the account of the Lenders and the Issuing Bank in accordance with the
order set forth in Section 10.5.

 

Section 3.3.  Sharing of Payments, Etc.

 

If
a Lender shall obtain payment of any principal of, or interest on, any of its
Loans under this Agreement or shall obtain payment on any other Obligation
owing by the Borrower or any other Loan Party through the exercise of any right
of set-off, banker’s lien, counterclaim or similar right or otherwise or
through voluntary prepayments directly to a Lender or other payments made by
the Borrower or any other Loan Party to a Lender (other than any payment in
respect of Specified Derivatives Obligations) 
not in accordance with the terms of 
this Agreement and such payment should be distributed to the Lenders in
accordance with Section 3.2. or Section 10.5., as applicable, such
Lender shall promptly purchase from the other Lenders participations in (or, if
and to the extent specified by such Lender, direct interests in) the Loans made
by the other Lenders or other Obligations owed to such other Lenders in such
amounts, and make such other adjustments from time to time as shall be
equitable, to the end that all the Lenders shall share the benefit of such
payment (net of any reasonable expenses which may actually be incurred by such
Lender in obtaining or preserving such benefit) in accordance with the
requirements of Section 3.2. or Section 10.5., as applicable.  To such end, all the Lenders shall make
appropriate adjustments among themselves (by the resale of participations sold
or otherwise) if such payment is rescinded or must otherwise be restored.  The Borrower agrees that any Lender so
purchasing a participation (or direct interest) in the Loans or other
Obligations owed to such other Lenders may exercise all rights of set-off,
banker’s lien, counterclaim or similar rights with respect to such participation
as fully as if such Lender were a direct holder of Loans in the amount of such
participation.  Nothing contained herein
shall require any Lender to exercise any such right or shall affect the right
of any Lender to exercise and retain the benefits of exercising, any such right
with respect to any other indebtedness or obligation of the Borrower.

 

39

 

Section 3.4.  Several Obligations.

 

No
Lender shall be responsible for the failure of any other Lender to make a Loan
or to perform any other obligation to be made or performed by such other Lender
hereunder, and the failure of any Lender to make a Loan or to perform any other
obligation to be made or performed by it hereunder shall not relieve the
obligation of any other Lender to make any Loan or to perform any other
obligation to be made or performed by such other Lender.

 

Section 3.5.  Fees.

 

(a)           Closing Fee.  On the Effective Date, the Borrower agrees to
pay to the Administrative Agent and each Lender all loan fees as have been
agreed to in writing by the Borrower and the Administrative Agent.

 

(b)           Facility Fees. During the
period from the Effective Date to but excluding the Termination Date, the
Borrower agrees to pay to the Administrative Agent for the account of the
Lenders a facility fee equal to the daily aggregate amount of the Commitments
(whether or not utilized) times a rate per annum equal to the Applicable
Facility Fee. Such fee shall be payable quarterly in arrears on the first day
of each January, April, July and October during the term of this Agreement and
on the Termination Date or any earlier date of termination of the Commitments
or reduction of the Commitments to zero. 
The Borrower acknowledges that the fee payable hereunder is a bona fide
commitment fee and is intended as reasonable compensation to the Lenders for
committing to make funds available to the Borrower as described herein and for
no other purposes.

 

(c)           Letter of Credit Fees.  The Borrower agrees to pay to the
Administrative Agent for the account of each Lender a letter of credit fee at a
rate per annum equal to the Applicable Margin times the daily average Stated Amount
of each Letter of Credit for the period from and including the date of issuance
of such Letter of Credit (x) to and including the date such Letter of
Credit expires or is cancelled or (y) to but excluding the date such
Letter of Credit is drawn in full.  In
addition to such fees, the Borrower shall pay to the Issuing Bank solely for
its own account, a fronting fee in respect of each Letter of Credit equal to
one-eighth of one percent (0.125%) of the initial Stated Amount of such Letter
of Credit; provided, however, in no event shall the aggregate amount of such
fee in respect of any Letter of Credit be less than $1,000.  The fees provided for in this subsection
shall be nonrefundable and payable, in the case of the fee provided for in the
first sentence, in arrears (i) quarterly on the first day of January,
April, July and October, (ii) on the Termination Date, (iii) on the
date the Commitments are terminated or reduced to zero and (iv) thereafter
from time to time on demand of the Administrative Agent  and
in the case of the fee provided for in the second sentence, at the time of
issuance of such Letter of Credit.  The
Borrower shall pay directly to the Issuing Bank from time to time on demand all
commissions, charges, costs and expenses in the amounts customarily charged or
incurred by the Issuing Bank from time to time in like circumstances with
respect to the issuance, amendment, renewal or extension of any Letter of
Credit or any other transaction relating thereto.

 

(d)           Extension Fee.  If the Borrower exercises its right to extend
the Termination Date in accordance with Section 2.12., the Borrower agrees to pay to the Administrative Agent for
the account of each Lender a fee equal to thirty-five one-hundredths of one
percent (0.35%) of the amount of such Lender’s Commitment (whether or not
utilized).  Such fee shall be due and
payable in full on the date the Administrative Agent receives the Extension
Request pursuant to such Section.

 

(e)           Administrative and Other Fees.  The Borrower agrees to pay the administrative
and other fees of the Administrative Agent as provided in the Fee Letter and as
may be otherwise agreed to in writing from time to time by the Borrower and the
Administrative Agent.

 

40

 

Section 3.6.  Computations.

 

Unless
otherwise expressly set forth herein, any accrued interest on any Loan, any
Fees or any other Obligations due hereunder shall be computed on the basis of a
year of 360 days and the actual number of days elapsed.

 

Section 3.7.  Usury.

 

In
no event shall the amount of interest due or payable on the Loans or other
Obligations exceed the maximum rate of interest allowed by Applicable Law and,
if any such payment is paid by the Borrower or any other Loan Party or received
by any Lender, then such excess sum shall be credited as a payment of
principal, unless the Borrower shall notify the respective Lender in writing
that the Borrower elects to have such excess sum returned to it forthwith.  It is the express intent of the parties hereto
that the Borrower not pay and the Lenders not receive, directly or indirectly,
in any manner whatsoever, interest in excess of that which may be lawfully paid
by the Borrower under Applicable Law. 
The parties hereto hereby agree and stipulate that the only charge
imposed upon the Borrower for the use of money in connection with this
Agreement is and shall be the interest specifically described in
Section 2.4.(a)(i) and (ii) and, with respect to Swingline Loans, in
Section 2.3.(c).  Notwithstanding the foregoing,
the parties hereto further agree and stipulate that all agency fees,
syndication fees, facility fees, closing fees, letter of credit fees,
underwriting fees, default charges, late charges, funding or “breakage”
charges, increased cost charges, attorneys’ fees and reimbursement for costs
and expenses paid by the Administrative Agent or any Lender to third parties or
for damages incurred by the Administrative Agent or any Lender, in each case,
in connection with the transactions contemplated by this Agreement and the
other Loan Documents, are charges made to compensate the Administrative Agent
or any such Lender for underwriting or administrative services and costs or
losses performed or incurred, and to be performed or incurred, by the
Administrative Agent and the Lenders in connection with this Agreement and
shall under no circumstances be deemed to be charges for the use of money.  All charges other than charges for the use of
money shall be fully earned and nonrefundable when due.

 

Section 3.8.  Statements of Account.

 

The
Administrative Agent will account to the Borrower monthly with a statement of
Loans, accrued interest and Fees, charges and payments made pursuant to this
Agreement and the other Loan Documents, and such account rendered by the Administrative
Agent shall be deemed conclusive upon the Borrower absent manifest error.  The failure of the Administrative Agent to
deliver such a statement of accounts shall not relieve or discharge the
Borrower from any of its obligations hereunder.

 

Section 3.9.  Defaulting Lenders.

 

(a)           Generally.  If any Lender shall become a Defaulting
Lender, then such Defaulting Lender’s right to participate in the
administration of the Loans, this Agreement and the other Loan Documents,
including without limitation, any right to vote in respect of any amendment,
consent or waiver of the terms of this Agreement or any other Loan Document, or
to direct any action or inaction of the Administrative Agent or to be taken
into account in the calculation of the Requisite Lenders shall be suspended
while such Lender remains a Defaulting Lender; provided, however, that the
foregoing shall not permit (i) an increase in such Lender’s Commitment or
(ii) an extension of the maturity date of such Lender’s Loans or other
Obligations owing to such Lender, in each of the cases described in clauses (i)
and (ii), without such Lender’s consent, or (iii) an extension of the
expiration date of a Letter of Credit beyond the Termination Date (except as
permitted under Section 2.2.(b)) or, with respect to any Letter of Credit
having an expiration date beyond the Termination Date as permitted by
Section 2.2.(b), an

 

41

 

extension
of the expiration date of such Letter of Credit without such Lender’s consent
if such Lender is directly and adversely affected thereby.  If a Lender is a Defaulting Lender because it
has failed to make timely payment to the Administrative Agent of any amount
required to be paid to the Administrative Agent hereunder (without giving
effect to any notice or cure periods), then the Administrative Agent shall be
entitled (i) to collect interest from such Defaulting Lender on such
delinquent payment for the period from the date on which the payment was due
until the date on which the payment is made at the Federal Funds Rate,
(ii) to withhold or setoff and to apply in satisfaction of the defaulted
payment and any related interest, any amounts otherwise payable to such
Defaulting Lender under this Agreement or any other Loan Document and
(iii) to bring an action or suit against such Defaulting Lender in a court
of competent jurisdiction to recover the defaulted amount and any related
interest.  No Commitment of any Lender
shall be increased or otherwise affected, and except as otherwise expressly
provided in this Section, performance by the Borrower of its obligations
hereunder and under the other Loan Documents shall not be excused or otherwise
modified, as a result of the operation of this Section. The rights and remedies
of the Borrower, the Administrative Agent, the Issuing Bank, the Swingline
Lender and the Lenders against a Defaulting Lender under this Section are in
addition to any other rights and remedies the Borrower, the Administrative
Agent, the Issuing Bank, the Swingline Lender and the Lenders may have against
such Defaulting Lender under this Agreement, any of the other Loan Documents,
Applicable Law or otherwise.

 

(b)           Treatment of Payments.  Any amount paid by the Borrower for the
account of a Defaulting Lender under this Agreement or any other Loan Document
will not be paid or distributed to such Defaulting Lender, but will instead be
applied by the Administrative Agent to the making of payments from time to time
in the following order of priority until such Defaulting Lender has ceased to
be a Defaulting Lender (in accordance with subsection (i) below): first,
to the payment of any amounts owing by such Defaulting Lender to the
Administrative Agent under this Agreement; second, to the payment on a
pro rata basis of any amounts owing by such Defaulting Lender to the Issuing
Bank or the Swingline Lender under this Agreement; third, if determined
by the Administrative Agent or requested by the Issuing Bank or the Swingline
Lender, held as cash collateral for such Defaulting Lender’s Commitment
Percentage of the Letter of Credit Liabilities then outstanding and for such
Defaulting Lender’s Commitment Percentage of the aggregate principal amount of
the Swingline Loans then outstanding, subject to the provisions of the immediately
following subsection (f); fourth, as the Borrower may request (so long
as no Default or Event of Default shall then exist) to the funding of any Loan
in respect of which such Defaulting Lender has failed to fund its portion
thereof as required by this Agreement, as determined by the Administrative
Agent; fifth, if so determined by the Administrative Agent and the
Borrower, held in such account as cash collateral for future funding
obligations of the Defaulting Lender in respect of any Loans under this Agreement;
sixth, to the payment of any amounts owing to the Lenders, the Issuing
Bank or the Swingline Lender as a result of any judgment of a court of
competent jurisdiction obtained by any Lender, the Issuing Bank or the
Swingline Lender against such Defaulting Lender as a result of such Defaulting
Lender’s breach of its obligations under this Agreement; seventh, so
long as no Default or Event of Default exists, to the payment of any amounts
owing to the Borrower as a result of any judgment of a court of competent
jurisdiction obtained by the Borrower against such Defaulting Lender as a
result of such Defaulting Lender’s breach of its obligations under this
Agreement; and eighth, after the termination of the Commitments and
payment in full of all Obligations, to such Defaulting Lender or as a court of
competent jurisdiction may otherwise direct.

 

(c)           Fees.  During any period that a Lender is a
Defaulting Lender, such Defaulting Lender’s Commitment and outstanding
Revolving Loans shall be excluded for purposes of calculating any Fee payable
to the Lenders under Sections 3.5.(b) and 3.5.(c), and during such period
the Borrower shall not be required to pay, and such Defaulting Lender shall not
be entitled to receive, any such Fees otherwise payable to such Defaulting
Lender under such Sections.

 

42

 

(d)           Reallocation of Letter of Credit
and Swingline Exposure.  As promptly
as possible once a Lender becomes a Defaulting Lender or a Potential Defaulting
Lender, the Administrative Agent shall reallocate the Commitment Percentages of
outstanding Letter of Credit Liabilities and Swingline Loans among the
Non-Defaulting Lenders in accordance with their Commitment Percentages
(determined exclusive of the Commitment of any Defaulting Lender or Potential
Defaulting Lender) but only (i) if no Default or Event of Default exists,
and (ii)  to the extent that such reallocation will not result in any
Non-Defaulting Lender’s Commitment Percentage (determined inclusive of the
Commitment of any Defaulting Lender and any Potential Defaulting Lender) of
(A) the Letter of Credit Liabilities exceeding such Non-Defaulting Lender’s
Commitment Percentage of the L/C Commitment Amount or (B) the aggregate
outstanding principal amount of the Swingline Loans exceeding such
Non-Defaulting Lender’s Commitment Percentage of the amount of the Swingline
Commitment.

 

(e)           Borrowing Requests.  While any Lender is a Defaulting Lender or a
Potential Defaulting Lender, the Borrower authorizes each of the Administrative
Agent, the Issuing Bank and the Swingline Lender (which authorization is
irrevocable and coupled with an interest) to give, in such Person’s discretion,
Notices of Revolving Borrowing pursuant to Section 2.1. in such amounts
and at such times as may be required to (i) reimburse any Reimbursement
Obligation that has become due and payable, (ii) repay an outstanding
Swingline Loan or (iii) cash collateralize the Obligations of the Borrower
in respect of outstanding Letters of Credit in an amount equal to the aggregate
amount of the obligations (contingent or otherwise) of such Defaulting Lender
or Potential Defaulting Lender in respect of such Letters of Credit, in each
case after giving effect to the immediately preceding subsection (d).

 

(f)            Cash Collateral for Letters of
Credit and Swingline Loans.  All cash
collateral and other credit support provided pursuant to Section 2.2.(l) or 2.3.(f) or the immediately preceding subsection (b) or (e)
(other than credit support not constituting funds subject to deposit) shall be
maintained in blocked, non-interest bearing deposit accounts with the
Administrative Agent.  The Borrower
hereby grants to (and subjects to the control of) the Administrative Agent, for
the benefit of the Administrative Agent, the Issuing Bank and the Lenders
(including the Swingline Lender), and agrees to maintain, a first priority
security interest in all such cash collateral and other credit support, and in
all proceeds of the foregoing, all as security for the Obligations to which
such cash collateral and other credit support may be applied pursuant to this
Section.  Cash collateral and other
credit support provided under Section 2.2.(l) or 2.3.(f)
or the immediately preceding subsection (b) or (e), shall be held and
applied to the satisfaction of the specific Letter of Credit Obligations,
Swingline Loans or obligations to fund participations therein, prior to any
other application of such property as may be provided for herein.  Such cash collateral and other credit support
(or the appropriate portion thereof) shall be released promptly following (i)
the elimination of the applicable Letter of Credit Obligations and Swingline
Loans giving rise thereto (including by the termination of the status of a
Lender as a Defaulting Lender), or (ii) the Administrative Agent’s good faith
determination that there exists excess cash collateral and other credit
support, including without limitation, as a result of a reallocation pursuant
to the immediately preceding subsection (d); provided, however,
(x) cash collateral and other credit support shall not be released if a Default
or Event of Default exists (and following application as provided in this
subsection may be otherwise applied in accordance with Section 10.5.) and (y) the Borrower, the Administrative
Agent, the Issuing Bank and the Swingline Lender may agree that such cash
collateral and other credit support shall not be released but instead held to
support future anticipated exposure with respect to Letters of Credit or
Swingline Loans.

 

(g)           Purchase of Defaulting Lender’s or
Potential Defaulting Lender’s Commitment. 
During any period that a Lender is a Defaulting Lender or Potential
Defaulting Lender, the Borrower may, by giving written notice thereof to the
Administrative Agent, such Defaulting Lender or Potential Defaulting Lender,
and the other Lenders, demand that such Defaulting Lender or Potential
Defaulting Lender assign its Commitment to an Eligible Assignee subject to and
in accordance with the provisions of Section 12.6.(b).  No party hereto shall
have any obligation whatsoever to initiate any such replacement

 

43

 

or
to assist in finding an Eligible Assignee. 
In addition, any Lender who is a Non-Defaulting Lender may, but shall
not be obligated, in its sole discretion, to acquire the face amount of all or
a portion of such Defaulting Lender’s or Potential Defaulting Lender’s
Commitment via an assignment subject to and in accordance with the provisions
of Section 12.6.(b).  In connection
with any such assignment, such Defaulting Lender or Potential Defaulting Lender
shall promptly execute all documents reasonably requested to effect such
assignment, including an appropriate Assignment and Acceptance and,
notwithstanding Section 12.6.(b),
shall pay to the Administrative Agent an assignment fee in the amount of
$10,000.  No such assignment shall be
effective unless and until, in addition to the other conditions thereto set
forth herein, the parties to the assignment shall make such additional payments
to the Administrative Agent in an aggregate amount sufficient with any
applicable amounts held pursuant to the immediately preceding
subsection (f), upon distribution thereof as appropriate (which may be
outright payment, purchases by the assignee of participations or
subparticipations, or other compensating actions, including funding, with the
consent of the Borrower and the Administrative Agent, the applicable pro rata
share of Loans previously requested but not funded by the Defaulting Lender or
Potential Defaulting Lender, to each of which the applicable assignee and
assignor hereby irrevocably consent), to (x) pay and satisfy in full all
payment liabilities then owed by such Defaulting Lender or Potential Defaulting
Lender to the Administrative Agent, the Issuing Bank or any Lender hereunder
(and interest accrued thereon), and (y) acquire (and fund as appropriate) such
Defaulting Lender’s or Potential Defaulting Lender’s full pro rata share of all
Loans and participations in Letters of Credit and Swingline Loans.  Notwithstanding the foregoing, in the event
that any assignment of rights and obligations of any Defaulting Lender or
Potential Defaulting Lender hereunder shall become effective under Applicable
Law without compliance with the provisions of this paragraph, then the assignee
of such interest shall be deemed to be a Defaulting Lender or Potential
Defaulting Lender, as applicable, for all purposes of this Agreement until such
compliance occurs.

 

(h)           Termination of Defaulting Lender’s
or Potential Defaulting Lender’s Commitment.  During any period that a Lender is a
Defaulting Lender or Potential Defaulting Lender, the Borrower may terminate in
full the Commitment of such Defaulting Lender or Potential Defaulting Lender by
giving notice to such Defaulting Lender or Potential Defaulting Lender and the
Administrative Agent (such termination, a “Defaulting Lender Termination”) so
long as on the effective date of such Defaulting Lender Termination and after
giving effect thereto and to any repayment of Revolving Loans in connection
therewith: (i) no Default or Event of Default exists (unless the Requisite
Lenders otherwise consent to such Defaulting Lender Termination), (ii) no
Revolving Loans shall be outstanding, and (iii) all obligations of such
Defaulting Lender or Potential Defaulting Lender in respect of any existing
Letter of Credit Obligations and Swingline Loans have been reallocated in
accordance with the immediately preceding subsection (d).  Each such notice shall specify the effective
date of such Defaulting Lender Termination (the “Defaulting Lender Termination
Date”), which shall be not less than 5 Business Days (or such shorter period as
agreed to by the Administrative Agent and such Defaulting Lender or Potential
Defaulting Lender) after the date on which such notice is delivered to such
Defaulting Lender or Potential Defaulting Lender and the Administrative
Agent.  On each such Defaulting Lender
Termination Date, (i) the Commitments of such Defaulting Lender or
Potential Defaulting Lender shall be reduced to zero, (ii) such Defaulting
Lender or Potential Defaulting Lender shall cease to be a “Lender” hereunder
(provided that any Defaulting Lender or Potential Defaulting Lender shall
continue to be entitled to the indemnification provisions contained herein, but
only with respect to matters arising prior to the applicable Defaulting Lender
Termination Date) and (iii) the Commitments of all other Lenders shall
remain unchanged.

 

(i)            Cure.  If the Borrower, the Administrative Agent,
the Issuing Bank and the Swingline Lender agree in writing in their discretion
that a Lender that is a Defaulting Lender or a Potential Defaulting Lender
should no longer be deemed to be a Defaulting Lender or Potential Defaulting
Lender, as the case may be, the Administrative Agent will so notify the
Lenders, whereupon as of the effective

 

44

 

date
specified in such notice and subject to any conditions set forth therein, such
Lender will, to the extent applicable, purchase such portion of outstanding
Revolving Loans of the other Lenders and make such other adjustments as the
Administrative Agent may determine to be necessary to cause the interest of the
Lenders in the Revolving Loans, Swingline Loans and Letter of Credit
Liabilities to be on a pro rata basis in accordance with their respective
Commitment Percentages, whereupon such Lender will cease to be a Defaulting
Lender or Potential Defaulting Lender; provided that no adjustments will
be made retroactively with respect to fees accrued or payments made by or on
behalf of the Borrower while such Lender was a Defaulting Lender; and provided,
further, that except to the extent otherwise expressly agreed by the affected
parties, no cure by a Lender under this subsection of its status as a
Defaulting Lender or Potential Defaulting Lender will constitute a waiver or
release of any claim of any party hereunder arising from such Lender’s having
been a Defaulting Lender or Potential Defaulting Lender.

 

Section 3.10.  Taxes; Foreign Lenders.

 

(a)           Taxes Generally.  All payments by the Borrower of principal of,
and interest on, the Loans and all other Obligations shall be made free and
clear of and without deduction for any present or future excise, stamp or other
taxes, fees, duties, levies, imposts, charges, deductions, withholdings or
other charges of any nature whatsoever imposed by any taxing authority, but
excluding Excluded Taxes (such non-excluded items being collectively called “Taxes”).  If any withholding or deduction from any
payment to be made by the Borrower hereunder is required in respect of any
Taxes pursuant to any Applicable Law, then the Borrower will:

 

(i)            pay directly to the
relevant Governmental Authority the full amount required to be so withheld or
deducted;

 

(ii)           promptly forward to
the Administrative Agent an official receipt or other documentation
satisfactory to the Administrative Agent evidencing such payment to such
Governmental Authority; and

 

(iii)          pay to the
Administrative Agent for its account or the account of the applicable Lender or
the Issuing Bank, as the case may be, such additional amount or amounts as is
necessary to ensure that the net amount actually received by the Administrative
Agent, the Issuing Bank or such Lender will equal the full amount that the
Administrative Agent, the Issuing Bank or such Lender would have received had
no such withholding or deduction been required.

 

(b)           Tax Indemnification.  If the Borrower fails to pay any Taxes when
due to the appropriate Governmental Authority or fails to remit to the
Administrative Agent, for its account or the account of the Issuing Bank or
respective Lender, as the case may be, the required receipts or other required
documentary evidence, the Borrower shall indemnify the Administrative Agent,
the Issuing Bank and the Lenders for any incremental Taxes, interest or
penalties that may become payable by the Administrative Agent, the Issuing Bank
or any Lender as a result of any such failure. 
For purposes of this Section, a distribution hereunder by the
Administrative Agent or any Lender to or for the account of any Lender shall be
deemed a payment by the Borrower.

 

(c)           Tax Forms. Prior to the date
that any Lender or Participant organized under the laws of a jurisdiction other
than that in which the Borrower is a resident for tax purposes becomes a party
hereto or a Participant, respectively, such Person shall deliver to the
Borrower and the Administrative Agent such certificates, documents or other
evidence, as required by the Internal Revenue Code or Treasury Regulations
issued pursuant thereto (including Internal Revenue Service Forms W-8ECI and W-8BEN, as applicable, or
appropriate successor forms), properly completed, currently effective and duly
executed by such Lender or Participant establishing that payments to it
hereunder and under the Notes are (i) not

 

45

 

subject
to United States Federal backup withholding tax and (ii) not subject to United
States Federal withholding tax under the Internal Revenue Code.  Each such Lender or Participant shall, to the
extent it may lawfully do so, (x) deliver further copies of such forms or other
appropriate certifications on or before the date that any such forms expire or
become obsolete and after the occurrence of any event requiring a change in the
most recent form delivered to the Borrower or the Administrative Agent and (y)
obtain such extensions of the time for filing, and renew such forms and
certifications thereof, as may be reasonably requested by the Borrower or the
Administrative Agent.  The Borrower shall
not be required to pay any amount pursuant to the last sentence of subsection
(a) above to any Lender or Participant that is organized under the laws of a
jurisdiction other than that in which the Borrower is a resident for tax
purposes or the Administrative Agent, if it is organized under the laws of a
jurisdiction other than that in which the Borrower is a resident for tax
purposes, if such Lender, such Participant or the Administrative Agent, as
applicable, fails to comply with the requirements of this subsection.  If any such Lender or Participant, to the
extent it may lawfully do so, fails to deliver the above forms or other
documentation, then the Administrative Agent may withhold from such payment to
such Lender such amounts as are required by the Internal Revenue Code. If any
Governmental Authority asserts that the Administrative Agent did not properly
withhold or backup withhold, as the case may be, any tax or other amount from payments
made to or for the account of any Lender, such Lender shall indemnify the
Administrative Agent therefor, including all penalties and interest, any taxes
imposed by any jurisdiction on the amounts payable to the Administrative Agent
under this Section, and costs and expenses (including all reasonable fees and
disbursements of any law firm or other external counsel and the allocated cost
of internal legal services and all disbursements of internal counsel) of the
Administrative Agent.  The obligation of
the Lenders under this Section shall survive the termination of the
Commitments, repayment of all Obligations and the resignation or replacement of
the Administrative Agent.

 

(d)           USA Patriot Act Notice; Compliance.  In order for the Administrative Agent to
comply with the USA Patriot Act of 2001 (Public Law 107-56), prior to any
Lender or Participant that is organized under the laws of a jurisdiction
outside of the United States of America becoming a party hereto, the
Administrative Agent may request, and such Lender or Participant shall provide
to the Administrative Agent, its name, address, tax identification number
and/or such other identification information as shall be necessary for the
Administrative Agent to comply with federal law.

 

ARTICLE IV. YIELD PROTECTION,
ETC.

 

Section 4.1.  Additional Costs; Capital Adequacy.

 

(a)           Capital Adequacy.  If any Lender determines that compliance with
any law or regulation or with any guideline or request from any central bank or
other Governmental Authority (whether or not having the force of law) becoming
effective after the date of this Agreement affects or would affect the amount
of capital required or expected to be maintained by such Lender, or any
corporation controlling such Lender, as a consequence of, or with reference to,
such Lender’s Commitments or its making or maintaining Loans or participating
in Letters of Credit below the rate which such Lender or such corporation
controlling such Lender could have achieved but for such compliance (taking
into account the policies of such Lender or such corporation with regard to
capital), then the Borrower shall, from time to time, within thirty (30) days
after written demand by such Lender, pay to such Lender additional amounts sufficient
to compensate such Lender or such corporation controlling such Lender to the
extent that such Lender determines such increase in capital is allocable to
such Lender’s obligations hereunder.

 

(b)           Additional Costs.  In addition to, and not in limitation of the
immediately preceding subsection (a), the Borrower shall promptly pay to
the Administrative Agent for the account of a Lender from time to time such
amounts as such Lender may determine to be necessary to compensate such Lender
for any costs incurred by such Lender that it determines are attributable to
its making or

 

46

 

maintaining
of any LIBOR Loans or its obligation to make any LIBOR Loans hereunder, any
reduction in any amount receivable by such Lender under this Agreement or any
of the other Loan Documents in respect of any of such LIBOR Loans or such
obligation or the maintenance by such Lender of capital in respect of its LIBOR
Loans or its Commitments (such increases in costs and reductions in amounts
receivable being herein called “Additional Costs”), resulting from any
Regulatory Change that:  (i) changes the
basis of taxation of any amounts payable to such Lender under this Agreement or
any of the other Loan Documents in respect of any of such LIBOR Loans or its
Commitments (other than Excluded Taxes), or (ii) imposes or modifies any
reserve, special deposit or similar requirements (other than Regulation D
of the Board of Governors of the Federal Reserve System or other similar
reserve requirement applicable to any other category of liabilities or category
of extensions of credit or other assets by reference to which the interest rate
on LIBOR Loans is determined to the extent utilized when determining LIBOR for
such Loans) relating to any extensions of credit or other assets of, or any
deposits with or other liabilities of, or other credit extended by, or any
other acquisition of funds by such Lender (or its parent corporation), or any
commitment of such Lender (including, without limitation, the Commitments of
such Lender hereunder) or (iii) has or would have the effect of reducing the
rate of return on capital of such Lender to a level below that which such
Lender could have achieved but for such Regulatory Change (taking into
consideration such Lender’s policies with respect to capital adequacy).

 

(c)           Lender’s Suspension of LIBOR
Loans.  Without limiting the effect
of the provisions of the immediately preceding subsection (a) and (b), if by
reason of any Regulatory Change, any Lender either (i) incurs Additional Costs
based on or measured by the excess above a specified level of the amount of a
category of deposits or other liabilities of such Lender that includes deposits
by reference to which the interest rate on LIBOR Loans is determined as
provided in  this Agreement or a category
of extensions of credit or other assets of such Lender that includes LIBOR
Loans or (ii) becomes subject to restrictions on the amount of such a category
of liabilities or assets that it may hold, then, if such Lender so elects by
notice to the Borrower (with a copy to the Administrative Agent), the
obligation of such Lender to make or Continue, or to Convert Base Rate Loans
into, LIBOR Loans shall be suspended until such Regulatory Change ceases to be
in effect (in which case the provisions of Section 4.5. shall apply).

 

(d)           Additional Costs in Respect of
Letters of Credit.  Without limiting
the obligations of the Borrower under the preceding subsections of this Section
(but without duplication), if as a result of any Regulatory Change or any risk-based
capital guideline or other requirement heretofore or hereafter issued by any
Governmental Authority there shall be imposed, modified or deemed applicable
any tax, reserve, special deposit, capital adequacy or similar requirement
against or with respect to or measured by reference to Letters of Credit and
the result shall be to increase the cost to the Issuing Bank of issuing (or any
Lender of purchasing participations in) or maintaining its obligation hereunder
to issue (or purchase participations in) any Letter of Credit or reduce any
amount receivable by the Issuing Bank or any Lender hereunder in respect of any
Letter of Credit, then, upon demand by the Issuing Bank or such Lender, the
Borrower shall pay promptly, and in any event within 3 Business Days of demand,
to the Issuing Bank or, in the case of such Lender, to the Administrative Agent
for the account of such Lender, from time to time as specified by the Issuing
Bank or such Lender, such additional amounts as shall be sufficient to compensate
the Issuing Bank or such Lender for such increased costs or reductions in
amount.

 

(e)           Notification and Determination of
Additional Costs.  Each of the
Administrative Agent, Issuing Bank, each Lender, and each Participant, as the
case may be, agrees to notify the Borrower of any event occurring after the
Agreement Date entitling the Administrative Agent, the Issuing Bank, such
Lender or such Participant to compensation under any of the preceding
subsections of this Section as promptly as practicable; provided, however, that
the failure of the Administrative Agent, the Issuing Bank, any Lender or any
Participant to give such notice shall not release the Borrower from any of its
obligations hereunder (and in the case of a Lender, to the Administrative Agent);
provided, further, that notwithstanding the foregoing provisions of this
Section, the Agent or a Lender, as the case may be, shall

 

47

 

not
be entitled to compensation for any such amount relating to any period ending
more than six months prior to the date that the Agent or such Lender, as
applicable, first notifies the Borrower in writing thereof or for any amounts
resulting from a change by any Lender of its Lending Office (other than changes
required by Applicable Law). The Administrative Agent, the Issuing Bank, each
Lender and each Participant, as the case may be, agrees to furnish to the
Borrower (and in the case of the Issuing Bank, a Lender or a Participant to the
Administrative Agent as well) a certificate setting forth the basis and amount
of each request for compensation under this Section.  Determinations by the Administrative Agent,
the Issuing Bank, such Lender, or such Participant, as the case may be, of the
effect of any Regulatory Change shall be conclusive and binding for all
purposes, absent manifest error.

 

Section 4.2.  Suspension of LIBOR Loans.

 

Anything
herein to the contrary notwithstanding, if, on or prior to the determination of
LIBOR for any Interest Period:

 

(a)           the Administrative Agent
reasonably determines (which determination shall be conclusive absent manifest
error) that quotations of interest rates for the relevant deposits referred to
in the definition of LIBOR are not being provided in the relevant amounts or
for the relevant maturities for purposes of determining rates of interest for
LIBOR Loans as provided herein or is otherwise unable to determine LIBOR; or

 

(b)           the Administrative
Agent reasonably determines (which determination shall be conclusive absent
manifest error) that the relevant rates of interest referred to in the
definition of LIBOR upon the basis of which the rate of interest for LIBOR
Loans for such Interest Period is to be determined are not likely to adequately
cover the cost to any Lender of making or maintaining LIBOR Loans for such
Interest Period;

 

then
the Administrative Agent shall give the Borrower and each Lender prompt notice
thereof and, so long as such condition remains in effect, all of the Lenders,
in the case of the immediately preceding clause (a), and any Lender affected
thereby, in the case of the immediately preceding clause (b), shall be under no
obligation to, and shall not, make additional LIBOR Loans, Continue LIBOR Loans
or Convert Loans into LIBOR Loans unless and until such Lender gives notice as
provided in Section 4.5. that
such condition no longer exists, and, so long as such condition remains in
effect, such Lender’s LIBOR Loans shall be treated in accordance with Section 4.5.

 

Section 4.3.  Illegality.

 

Notwithstanding
any other provision of this Agreement, if any Lender shall determine (which
determination shall be conclusive and binding) that it is unlawful due to a
change in (or the interpretation of), or adoption of, any law or regulation
from a Governmental Authority becoming effective after the date of this
Agreement for such Lender to honor its obligation to make or maintain LIBOR
Loans hereunder, then such Lender shall promptly notify the Borrower thereof
(with a copy of such notice to the Administrative Agent) and such Lender’s
obligation to make or Continue, or to Convert Loans of any other Type into,
LIBOR Loans shall be suspended until such time as such Lender may again make
and maintain LIBOR Loans (in which case the provisions of Section 4.5. shall be applicable).

 

Section 4.4.  Compensation.

 

The
Borrower shall pay to the Administrative Agent for the account of each Lender,
upon the request of the Administrative Agent, such amount or amounts as the
Administrative Agent shall

 

48

 

determine
in its sole discretion shall be sufficient to compensate such Lender for any
loss, cost or expense attributable to:

 

(a)           any payment or
prepayment (whether mandatory or optional) of a LIBOR Loan, or Conversion of a
LIBOR Loan, made by such Lender for any reason (including, without limitation,
acceleration) on a date other than the last day of the Interest Period for such
Loan; or

 

(b)           any failure by the
Borrower for any reason (including, without limitation, the failure of any of
the applicable conditions precedent specified in Article 5.2. to be satisfied)
to borrow a LIBOR Loan from such Lender on the date for such borrowing, or to
Convert a Base Rate Loan into a LIBOR Loan or Continue a LIBOR Loan on the
requested date of such Conversion or Continuation.

 

Not
in limitation of the foregoing, such compensation shall include, without
limitation, in the case of a LIBOR Loan, an amount equal to the then present
value of (A) the amount of interest that would have accrued on such LIBOR Loan
for the remainder of the Interest Period at the rate applicable to such LIBOR
Loan, less (B) the amount of interest that would accrue on the same LIBOR Loan
for the same period if LIBOR were set on the date on which such LIBOR Loan was
repaid, prepaid or Converted or the date on which the Borrower failed to
borrow, Convert or Continue such LIBOR Loan calculating present value by using
as a discount rate LIBOR quoted on such date. 
Upon the Borrower’s request, the Administrative Agent shall provide the
Borrower with a statement setting forth the basis for requesting such
compensation and the method for determining the amount thereof.  Any such statement shall be conclusive absent
manifest error.

 

Section 4.5.  Treatment of Affected Loans.

 

If
the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert
Base Rate Loans into, LIBOR Loans shall be suspended pursuant to
Section 4.1.(c), Section 4.2. or Section 4.3. then such Lender’s
LIBOR Loans shall be automatically Converted into Base Rate Loans on the last
day(s) of the then current Interest Period(s) for LIBOR Loans (or, in the case
of a Conversion required by Section 4.1.(c), Section 4.2., or
Section 4.3. on such earlier date as such Lender may specify to the
Borrower with a copy to the Administrative Agent) and, unless and until such
Lender gives notice as provided below that the circumstances specified in
Section 4.1., Section 4.2. or Section 4.3. that gave rise to
such Conversion no longer exist:

 

(a)           to the extent that
such Lender’s LIBOR Loans have been so Converted, all payments and prepayments
of principal that would otherwise be applied to such Lender’s LIBOR Loans shall
be applied instead to its Base Rate Loans; and

 

(b)           all Loans that would
otherwise be made or Continued by such Lender as LIBOR Loans shall be made or
Continued instead as Base Rate Loans, and all Base Rate Loans of such Lender
that would otherwise be Converted into LIBOR Loans shall remain as Base Rate
Loans.

 

If
such Lender gives notice to the Borrower (with a copy to the Administrative
Agent) that the circumstances specified in Section 4.1.(c) or 4.3. that
gave rise to the Conversion of such Lender’s LIBOR Loans pursuant to this
Section no longer exist (which such Lender agrees to do promptly upon such
circumstances ceasing to exist) at a time when LIBOR Loans made by other
Lenders are outstanding, then such Lender’s Base Rate Loans shall be
automatically Converted, on the first day(s) of the next succeeding Interest
Period(s) for such outstanding LIBOR Loans, to the extent necessary so that,
after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans
and by such Lender are

 

49

 

held
pro rata (as to principal amounts, Types and Interest Periods) in accordance
with their respective Commitments.

 

Section 4.6.  Affected Lenders.

 

If
(a) a Lender requests compensation pursuant to Section 3.10. or 4.1., and the Requisite Lenders are not also doing the same, or
(b) the obligation of any Lender to make LIBOR Loans or to Continue, or to
Convert Base Rate Loans into, LIBOR Loans shall be suspended pursuant to
Section 4.1.(b) or 4.3. but the obligation of the
Requisite Lenders shall not have been suspended under such Sections, or
(c) a Lender does not vote in favor of any amendment, modification or
waiver to this Agreement or any other Loan Document which, pursuant to Section 12.7., requires the vote of such
Lender, and the Requisite Lenders shall have voted in favor of such amendment,
modification or waiver then, so long as there does not then exist any Default
or Event of Default, the Borrower may demand that such Lender (the “Affected
Lender”), and upon such demand the Affected Lender shall promptly, assign its
Commitment to an Eligible Assignee subject to and in accordance with the
provisions of Section 12.6.(b)
for a purchase price equal to the aggregate principal balance of all Loans then
owing to the Affected Lender plus any accrued but unpaid interest thereon and
accrued but unpaid fees owing to the Affected Lender, or any other amount as
may be mutually agreed upon by such Affected Lender and Eligible Assignee.  Each of the Administrative Agent and the
Affected Lender shall reasonably cooperate in effectuating the replacement of
such Affected Lender under this Section, but at no time shall the
Administrative Agent, such Affected Lender nor any other Lender nor any Titled
Agent be obligated in any way whatsoever to initiate any such replacement or to
assist in finding an Eligible Assignee. 
The exercise by the Borrower of its rights under this Section shall be
at the Borrower’s sole cost and expense and at no cost or expense to the
Administrative Agent, the Affected Lender or any of the other Lenders.  The terms of this Section shall not in any
way limit the Borrower’s obligation to pay to any Affected Lender compensation
owing to such Affected Lender pursuant to this Agreement (including, without
limitation, pursuant to Sections 3.10.,
4.1. or 4.4.) with respect to any period up to the date of replacement.

 

Section 4.7.  Change of
Lending Office.

 

Each
Lender agrees that it will use reasonable efforts (consistent with its internal
policy and legal and regulatory restrictions) to designate an alternate Lending
Office with respect to any of its Loans affected by the matters or
circumstances described in Sections 3.10., 4.1. or 4.3. to reduce the
liability of the Borrower or avoid the results provided thereunder, so long as
such designation is not disadvantageous to such Lender as determined by such
Lender in its sole discretion, except that such Lender shall have no obligation
to designate a Lending Office located in the United States of America.

 

Section 4.8.  Assumptions
Concerning Funding of LIBOR Loans.

 

Calculation
of all amounts payable to a Lender under this Article shall be made as though
such Lender had actually funded LIBOR Loans through the purchase of deposits in
the relevant market bearing interest at the rate applicable to such LIBOR Loans
in an amount equal to the amount of the LIBOR Loans and having a maturity
comparable to the relevant Interest Period; provided, however, that each Lender
may fund each of its LIBOR Loans in any manner it sees fit and the foregoing
assumption shall be used only for calculation of amounts payable under this
Article.

 

50

 

ARTICLE V. CONDITIONS PRECEDENT

 

Section 5.1.  Initial Conditions Precedent.

 

The
obligation of the Lenders to effect or permit the occurrence of the first
Credit Event hereunder, whether as the making of a Loan or the issuance of a
Letter of Credit, is subject to the satisfaction or waiver of the following
conditions precedent:

 

(a)           The Administrative Agent
shall have received each of the following, in form and substance satisfactory
to the Administrative Agent:

 

(i)            counterparts of
this Agreement executed by each of the parties hereto;

 

(ii)           Revolving Notes
executed by the Borrower, payable to each Lender (other than any Lender that
has requested that it not receive a Revolving Note) and complying with the
terms of Section 2.10.(a) and the Swingline Note executed by the Borrower;

 

(iii)          the Guaranty
executed by each of the Guarantors initially to be a party thereto;

 

(iv)          an opinion of
Sullivan & Worcester LLP, and opinion of Venable LLP, special Maryland
counsel, in each case, counsel to the Borrower and the other Loan Parties,
addressed to the Administrative Agent and the Lenders and covering the matters
set forth in Exhibit J;

 

(v)           the certificate
or articles of incorporation or formation, articles of organization,
certificate of limited partnership, declaration of trust or other comparable
organizational instrument (if any) of each Loan Party certified as of a recent
date by the Secretary of State of the state of formation of such Loan Party;

 

(vi)          a certificate
of good standing (or certificate of similar meaning) with respect to each Loan
Party issued as of a recent date by the Secretary of State of the state of
formation of each such Loan Party and certificates of qualification to transact
business or other comparable certificates issued as of a recent date by each
Secretary of State (and any state department of taxation, as applicable) of
each state in which such Loan Party is required to be so qualified and where
failure to be so qualified could reasonably be expected to have a Material
Adverse Effect;

 

(vii)         a certificate
of incumbency signed by the Secretary or Assistant Secretary (or other
individual performing similar functions) of each Loan Party with respect to
each of the officers of such Loan Party authorized to execute and deliver the
Loan Documents to which such Loan Party is a party, and in the case of the
Borrower, authorized to execute and deliver on behalf of the Borrower Notices
of Borrowing, Notices of Swingline Borrowing, requests for Letters of Credit,
Notices of Conversion and Notices of Continuation;

 

(viii)        copies
certified by the Secretary or Assistant Secretary (or other individual
performing similar functions) of each Loan Party of (A) the by-laws of
such Loan Party, if a corporation, the operating agreement, if a limited
liability company, the partnership agreement, if a limited or general
partnership, or other comparable document in the case of any other form of
legal entity and (B) all corporate, partnership, member or other necessary
action taken by such Loan Party to authorize the execution, delivery and
performance of the Loan Documents to which it is a party;

 

51

 

(ix)           a Compliance
Certificate calculated as of the Effective Date on a pro forma basis for the
Borrower’s fiscal quarter ended March 31, 2010;

 

(x)            a Transfer
Authorizer Designation Form effective as of the Agreement Date;

 

(xi)           the Fee Letter;

 

(xiii)         evidence that
the Fees, if any, then due and payable under Section 3.5., together with
all other fees, expenses and reimbursement amounts due and payable to the
Administrative Agent and any of the Lenders, including without limitation, the
fees and expenses of counsel to the Administrative Agent, have been paid;

 

(xiv)        insurance
certificates, or other evidence, providing that the insurance coverage required
under Section 7.5. (including, without limitation, both property and
liability insurance) is in full force and effect;

 

(xv)         evidence that
all indebtedness, liabilities or obligations owing by the Loan Parties under the
Existing Credit Agreement shall have been paid in full and all Liens, if any,
securing such indebtedness, liabilities or other obligations have been
released;

 

(xvi)        such other
documents and instruments as the Administrative Agent, or any Lender through
the Administrative Agent, may reasonably request; and

 

(b)           In the good faith judgment
of the Administrative Agent:

 

(i)            there shall not
have occurred or become known to the Administrative Agent or any of the Lenders
any event, condition, situation or status since the date of the information
contained in the financial and business projections, budgets, pro forma data
and forecasts concerning the Borrower and its Subsidiaries delivered to the
Administrative Agent and the Lenders prior to the Agreement Date that has had
or could reasonably be expected to result in a Material Adverse Effect;

 

(ii)           no litigation,
action, suit, investigation or other arbitral, administrative or judicial
proceeding shall be pending or threatened which could reasonably be expected to
(A) result in a Material Adverse Effect or (B) restrain or enjoin, impose
materially burdensome conditions on, or otherwise materially and adversely
affect, the ability of the Borrower or any other Loan Party to fulfill its
obligations under the Loan Documents to which it is a party;

 

(iii)          the Borrower
and its Subsidiaries shall have received all approvals, consents and waivers,
and shall have made or given all necessary filings and notices as shall be
required to consummate the transactions contemplated hereby without the
occurrence of any default under, conflict with or violation of (A) any
Applicable Law or (B) any agreement, document or instrument to which any
Loan Party is a party or by which any of them or their respective properties is
bound, except for such approvals, consents, waivers, filings and notices the
receipt, making or giving of which could not reasonably be likely to
(A) have a Material Adverse Effect, or (B) restrain or enjoin impose
materially burdensome conditions on, or otherwise materially and adversely
affect the ability of the Borrower or any other Loan Party to fulfill its
obligations under the Loan Documents to which it is a party;

 

52

 

(iv)          the Borrower
and each other Loan Party shall have provided all information requested by the
Administrative Agent and each Lender may request in order to comply with the
USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)); and

 

(v)           there shall not
have occurred or exist any other material disruption of financial or capital
markets that could reasonably be expected to materially and adversely affect
the transactions contemplated by the Loan Documents.

 

Section 5.2.  Conditions Precedent to All Loans and Letters
of Credit.

 

The
obligations of (i) Lenders to make any Loans and (ii) the Issuing Bank to issue
Letters of Credit are each subject to the further conditions precedent that:
(a) no Default or Event of Default shall exist as of the date of the
making of such Loan or date of issuance of such Letter of Credit or would exist
immediately after giving effect thereto, and no violation of the limits
described in Section 2.14. would occur after giving effect thereto;
(b) the representations and warranties made or deemed made by the Borrower
and each other Loan Party in the Loan Documents to which any of them is a
party, shall be true and correct on and as of the date of the making of such
Loan or date of issuance of such Letter of Credit with the same force and
effect as if made on and as of such date except to the extent that such
representations and warranties expressly relate solely to an earlier date (in
which case such representations and warranties shall have been true and
accurate on and as of such earlier date) and except for changes in factual
circumstances specifically and expressly permitted hereunder; (c) in the
case of the borrowing of Revolving Loans, the Administrative Agent shall have
received a timely Notice of Borrowing, or in the case of a Swingline Loan, the
Swingline Lender shall have received a timely Notice of Swingline Borrowing and
(d) in the case of the issuance of a Letter of Credit or the making of a
Swingline Loan, no Lender shall be a Defaulting Lender or Potential Defaulting
Lender; provided, however, in the case of the issuance of a Letter of Credit,
the Issuing Bank may waive this condition precedent on behalf of itself and all
Lenders if cash collateral or other credit support satisfactory to the Issuing
Bank, in its sole and absolute discretion, has been pledged or otherwise
provided to the Administrative Agent for the benefit of the Issuing Bank in
respect of such Defaulting Lender’s or Potential Defaulting Lender’s
participation in such Letter of Credit in accordance with Section 2.2.(l);
provided, further, that in the case of a Swingline Loan, the Swingline Lender
may waive this condition precedent on behalf of itself and all Lenders if cash
collateral or other credit support satisfactory to the Swingline Lender, in its
sole and absolute discretion, has been pledged or otherwise provided to the
Administrative Agent for the benefit of the Swingline Lender in respect of such
Defaulting Lender’s or Potential Defaulting Lender’s Commitment Percentage of
the aggregate principal amount of the Swingline Loans in accordance with
Section 2.3.(f). Each Credit Event shall constitute a certification by the
Borrower to the effect set forth in the preceding sentence (both as of the date
of the giving of notice relating to such Credit Event and, unless the Borrower
otherwise notifies the Administrative Agent prior to the date of such Credit
Event, as of the date of the occurrence of such Credit Event).  In addition, the Borrower shall be deemed to
have represented to the Administrative Agent and the Lenders at the time such
Loan is made or such Letter of Credit is issued that all conditions to the
making of such Loan or issuing of such Letter of Credit contained in this
Article V. have been satisfied.

 

ARTICLE VI. REPRESENTATIONS AND
WARRANTIES

 

Section 6.1.  Representations and Warranties.

 

In
order to induce the Administrative Agent and each Lender to enter into this
Agreement and to make Loans and, in the case of the Issuing Bank, to issue
Letters of Credit, the Borrower represents and warrants to the Administrative
Agent, the Issuing Bank and each Lender as follows:

 

53

 

(a)           Organization; Power;
Qualification.  Each of the
Borrower, the other Loan Parties and the other Subsidiaries is a corporation,
partnership or other legal entity, duly organized or formed, validly existing
and in good standing under the jurisdiction of its incorporation or formation,
has the power and authority to own or lease its respective properties and to
carry on its respective business as now being and hereafter proposed to be
conducted and is duly qualified and is in good standing as a foreign
corporation, partnership or other legal entity, and authorized to do business,
in each jurisdiction in which the character of its properties or the nature of
its business requires such qualification or authorization and where the failure
to be so qualified or authorized could reasonably be expected to have, in each
instance, a Material Adverse Effect.

 

(b)           Ownership Structure.  Part I of Schedule 6.1.(b) is, as of the
Agreement Date, a complete and correct list of all Subsidiaries of the Borrower
setting forth for each such Subsidiary, (i) the jurisdiction of
organization of such Subsidiary, (ii) each Person holding any Equity
Interest in such Subsidiary, (iii) the nature of the Equity Interests held
by each such Person, (iv) the percentage of ownership of such Subsidiary
represented by such Equity Interests and (v) whether such Subsidiary is a
Material Subsidiary and/or an Excluded Subsidiary.  The parties hereto acknowledge that as of the
Agreement Date GOV is not a Subsidiary. 
As of the Agreement Date, except as disclosed in such Schedule
(A), each of the Borrower and its Subsidiaries owns, free and clear of all
Liens, and has the unencumbered right to vote, all outstanding Equity Interests
in each Person shown to be held by it on such Schedule, (B) all of the
issued and outstanding capital stock of each such Person organized as a
corporation is validly issued, fully paid and nonassessable and (C) there
are no outstanding subscriptions, options, warrants, commitments, preemptive
rights or agreements of any kind (including, without limitation, any
stockholders’ or voting trust agreements) for the issuance, sale, registration
or voting of, or outstanding securities convertible into, any additional shares
of capital stock of any class, or partnership or other ownership interests of
any type in, any such Person.  As of the
Agreement Date, Part II of Schedule 6.1.(b) correctly sets forth all
Unconsolidated Affiliates of the Borrower, including the correct legal name of
such Person, the type of legal entity which each such Person is, and all Equity
Interests in such Person held directly or indirectly by the Borrower.

 

(c)           Authorization of Loan
Documents and Borrowings.  The
Borrower has the right and power, and has taken all necessary action to
authorize it, to borrow and obtain other extensions of credit hereunder.  The Borrower and each other Loan Party has
the right and power, and has taken all necessary action to authorize it, to
execute, deliver and perform each of the Loan Documents and the Fee Letter to
which it is a party in accordance with their respective terms and to consummate
the transactions contemplated hereby and thereby.  The Loan Documents and the Fee Letter to
which the Borrower or any other Loan Party is a party have been duly executed
and delivered by the duly authorized officers of such Person and each is a
legal, valid and binding obligation of such Person enforceable against such
Person in accordance with its respective terms, except as the same may be
limited by bankruptcy, insolvency, and other similar laws affecting the rights
of creditors generally and the availability of equitable remedies for the
enforcement of certain obligations (other than the payment of principal)
contained herein or therein and as may be limited by equitable principles
generally.

 

(d)           Compliance of Loan Documents
with Laws.  The
execution, delivery and performance of this Agreement,  the other Loan Documents to which any Loan
Party is a party and of the Fee Letter in accordance with their respective
terms and the borrowings and other extensions of credit hereunder do not and
will not, by the passage of time, the giving of notice, or both:  (i) require any Governmental Approval or
violate any Applicable Law (including all Environmental Laws) relating to the
Borrower or any other Loan Party; (ii) conflict with, result in a breach
of or constitute a default under the organizational documents of any Loan
Party, or any indenture, agreement or other instrument to which the Borrower or
any other Loan Party is a party or by which it or any of its respective
properties may be bound; or (iii) result in or require the creation or
imposition of any Lien upon or with respect to any property now

 

54

 

owned
or hereafter acquired by any Loan Party other than in favor of the
Administrative Agent for its benefit and the benefit of the Lenders and the
Issuing Bank.

 

(e)           Compliance with Law;
Governmental Approvals.  Each
of the Borrower, the other Loan Parties and the other Subsidiaries is in
compliance with each Governmental Approval and all other Applicable Laws
relating to it except for noncompliances which, and Governmental Approvals the
failure to possess which, could not, individually or in the aggregate,
reasonably be expected to cause a Default or Event of Default or have a
Material Adverse Effect.

 

(f)            Title to Properties; Liens.  Part I of Schedule 6.1.(f) is, as of the
Agreement Date, a complete and correct listing of all real estate assets of the
Borrower, each other Loan Party and each other Subsidiary.  Each of the Borrower, each other Loan Party
and each other Subsidiary has good, marketable and legal title to, or a valid
leasehold interest in, its respective assets. 
As of the Agreement Date, there are no Liens against any assets of the
Borrower, any Subsidiary or any other Loan Party except for Permitted Liens.

 

(g)           Existing Indebtedness.  Schedule 6.1.(g) is, as of the Agreement
Date, a complete and correct listing of all Indebtedness (including all
Guarantees) of each of the Borrower, the other Loan Parties and the other
Subsidiaries, and if such Indebtedness is secured by any Lien, a description of
all of the property subject to such Lien. 
As of the Agreement Date, the Borrower, the other Loan Parties and the
other Subsidiaries have performed and are in compliance with all of the terms
of such Indebtedness and all instruments and agreements relating thereto, and
no default or event of default, or event or condition which with the giving of
notice, the lapse of time, or both, would constitute a default or event of
default, exists with respect to any such Indebtedness.

 

(h)           Material Contracts.  Schedule 6.1.(h) is, as of the Agreement
Date, a true, correct and complete listing of all Material Contracts.  Each of the Borrower, the other Loan Parties
and the other Subsidiaries that is party to any Material Contract has performed
and is in compliance with all of the terms of such Material Contract, and no
default or event of default, or event or condition which with the giving of
notice, the lapse of time, or both, would constitute such a default or event of
default, exists with respect to any such Material Contract.

 

(i)            Litigation.  Except as set forth on Schedule 6.1.(i),
there are no actions, suits or proceedings pending (nor, to the knowledge of
any Loan Party, are there any actions, suits or proceedings threatened, nor is
there any basis therefor) against or in any other way relating adversely to or
affecting the Borrower, any other Loan Party, any other Subsidiary or any of
their respective property in any court or before any arbitrator of any kind or
before or by any other Governmental Authority which, (i) could reasonably
be expected to have a Material Adverse Effect or (ii) in any manner draws into
question the validity or enforceability of any Loan Documents or the Fee
Letter.  There are no strikes, slow
downs, work stoppages or walkouts or other labor disputes in progress or
threatened relating to, any Loan Party or any other Subsidiary.

 

(j)            Taxes.  All federal, state and other tax returns of
the Borrower, each other Loan Party and each other Subsidiary required by
Applicable Law to be filed have been duly filed, and all federal, state and
other taxes, assessments and other governmental charges or levies upon, each
Loan Party, each other Subsidiary and their respective properties, income,
profits and assets which are due and payable have been paid, except any such
nonpayment or non-filing which is at the time permitted under
Section 7.6.  As of the Agreement
Date, none of the United States income tax returns of the Borrower, any other
Loan Party or any other Subsidiary is under audit.  All charges, accruals and reserves on the
books of the Borrower, the other Loan Parties and the other Subsidiaries in
respect of any taxes or other governmental charges are in accordance with GAAP.

 

55

 

(k)           Financial Statements.  The Borrower has furnished to each Lender
copies of (i) the audited consolidated balance sheet of the Borrower and
its consolidated Subsidiaries for the fiscal year ended December 31, 2009, and
the related audited consolidated statements of operations, shareholders’ equity
and cash flow for the fiscal year ended on such date, with the opinion thereon
of Ernst &Young LLP, and (ii) the unaudited consolidated balance sheet
of the Borrower and its consolidated Subsidiaries for the fiscal quarter ended
March 31, 2010, and the related unaudited consolidated statements of
operations, and cash flow of the Borrower and its consolidated Subsidiaries for
the fiscal quarter period ended on such date. 
Such balance sheets and statements (including in each case related
schedules and notes) are complete and correct in all material respects and
present fairly, in accordance with GAAP consistently applied throughout the
periods involved, the consolidated financial position of the Borrower and its
consolidated Subsidiaries as at their respective dates and the results of
operations and the cash flow for such periods (subject, as to interim
statements, to changes resulting from normal year-end audit adjustments).  Neither the Borrower nor any of its Subsidiaries
has on the Agreement Date any material contingent liabilities, liabilities,
liabilities for taxes, unusual or long-term commitments or unrealized or
forward anticipated losses from any unfavorable commitments that would be
required to be set forth in its financial statements or notes thereto, except
as referred to or reflected or provided for in said financial statements.

 

(l)            No Material Adverse Change.  Since December 31, 2009, there has been no
material adverse change in the consolidated financial condition, results of
operations, business or prospects of the Borrower and its consolidated
Subsidiaries taken as a whole.  Each of
the Borrower, the other Loan Parties and the other Subsidiaries is Solvent.

 

(m)          REIT Status.  The Borrower qualifies as a REIT and is in
compliance with all requirements and conditions imposed under the Internal
Revenue Code to allow the Borrower to maintain its status as a REIT.

 

(n)           ERISA.

 

(i)            Each Benefit
Arrangement is in compliance with the applicable provisions of ERISA, the
Internal Revenue Code and other Applicable Laws in all material respects.  Except with respect to Multiemployer Plans,
each Qualified Plan (A) has received a favorable determination from the
Internal Revenue Service applicable to such Qualified Plan’s current remedial
amendment cycle (as defined in Revenue Procedure 2007-44 or “2007-44” for
short), (B) has timely filed for a favorable determination letter from the
Internal Revenue Service during its staggered remedial amendment cycle (as
defined in 2007-44) and such application is currently being processed by the
Internal Revenue Service, (C) had filed for a determination letter prior
to its “GUST remedial amendment period” (as defined in 2007-44) and received
such determination letter and the staggered remedial amendment cycle first
following the GUST remedial amendment period for such Qualified Plan has not
yet expired, or (D) is maintained under a prototype plan and may rely upon
a favorable opinion letter issued by the Internal Revenue Service with respect
to such prototype plan.  To the best
knowledge of the Borrower, nothing has occurred which would cause the loss of
its reliance on each Qualified Plan’s favorable determination letter or opinion
letter.

 

(ii)           With respect to
any Benefit Arrangement that is a retiree welfare benefit arrangement, all
amounts have been accrued on the applicable ERISA Group’s financial statements
in accordance with FASB ASC 715.  The “benefit
obligation” of all Plans does not exceed the “fair market value of plan assets”
for such Plans by more than $10,000,000 all as determined by and with such
terms defined in accordance with FASB ASC 715.

 

56

 

(iii)          Except as could
not reasonably be expected, individually or in the aggregate, to have a
Material Adverse Effect: (i) no ERISA Event has occurred or is expected to
occur; (ii) there are no pending, or to the best knowledge of the
Borrower, threatened, claims, actions or lawsuits or other action by any
Governmental Authority, plan participant or beneficiary with respect to a
Benefit Arrangement; (iii) there are no violations of the fiduciary
responsibility rules with respect to any Benefit Arrangement; and (iv) no
member of the ERISA Group has engaged in a non-exempt “prohibited transaction,”
as defined in Section 406 of ERISA and Section 4975 of the Internal
Revenue Code, in connection with any Plan, that would subject any member of the
ERISA Group to a tax on prohibited transactions imposed by Section 502(i)
of ERISA or Section 4975 of the Internal Revenue Code.

 

(o)           Absence of Default.  None of the Loan Parties or any of the other
Subsidiaries is in default under its certificate or articles of incorporation
or formation, bylaws, partnership agreement or other similar organizational
documents, and no event has occurred, which has not been remedied, cured or
waived:  (i) which constitutes a
Default or an Event of Default; or (ii) which constitutes, or which with
the passage of time, the giving of notice, or both, would constitute, a default
or event of default by, any Loan Party or any other Subsidiary under any
agreement (other than this Agreement) or judgment, decree or order to which any
such Person is a party or by which any such Person or any of its respective
properties may be bound where such default or event of default could,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

 

(p)           Environmental Laws.  In the ordinary course of business and from
time to time each of the Borrower, each other Loan Party and each other
Subsidiary conducts reviews of the effect of Environmental Laws on its
respective business, operations and properties, including without limitation,
its respective Properties.  Each of the
Borrower, each other Loan Party and the other Subsidiary: (i) is in
compliance with all Environmental Laws applicable to its business, operations
and the Properties, (ii) has obtained all Governmental Approvals which are
required under Environmental Laws, and each such Governmental Approval is in
full force and effect, and (iii) is in compliance with all terms and conditions
of such Governmental Approvals, where with respect to each of the immediately
preceding clauses (i) through (iii) the failure to obtain or to comply with
could reasonably be expected to have a Material Adverse Effect.  Except for any of the following matters that
could not reasonably be expected to have a Material Adverse Effect, no Loan
Party has any knowledge of, or has received notice of, any past, present, or
pending releases, events, conditions, circumstances, activities, practices,
incidents, facts, occurrences, actions, or plans that, with respect to any Loan
Party or any other Subsidiary, their respective businesses, operations or with
respect to the Properties, may:  (i)
cause or contribute to an actual or alleged violation of or noncompliance with
Environmental Laws, (ii) cause or contribute to any other potential common-law
or legal claim or other liability, or (iii) cause any of the Properties to
become subject to any restrictions on ownership, occupancy, use or
transferability under any Environmental Law or require the filing or recording
of any notice, approval or disclosure document under any Environmental Law and,
with respect to the immediately preceding clauses (i) through (iii) is based on
or related to the on-site or off-site manufacture, generation, processing,
distribution, use, treatment, storage, disposal, transport, removal, clean up
or handling, or the emission, discharge, release or threatened release of any
wastes or Hazardous Material, or any other requirement under Environmental
Law.  There is no civil, criminal, or
administrative action, suit, demand, claim, hearing, notice, or demand letter,
mandate, order, lien, request, investigation, or proceeding pending or, to the
Borrower’s knowledge after due inquiry, threatened, against the Borrower, any
other Loan Party or any other Subsidiary relating in any way to Environmental
Laws which, reasonably could be expected to have a Material Adverse
Effect.  None of the Properties is listed
on or proposed for listing on the National Priority List promulgated pursuant
to the Comprehensive Environmental Response, Compensation and Liability Act of
1980 and its implementing regulations, or any state or local priority list
promulgated pursuant to any analogous state or local law.

 

57

 

No
Hazardous Materials have been transported, released, discharged or disposed on
any of the Properties other than (x) in compliance with all applicable
Environmental Laws or (y) as could not reasonably be expected to have a
Material Adverse Effect.

 

(q)           Investment Company.  None of the Borrower, any other Loan Party or
any other Subsidiary is (i) an “investment company” or a company “controlled”
by an “investment company” within the meaning of the Investment Company Act of
1940, as amended, or (ii) subject to any other Applicable Law which
purports to regulate or restrict its ability to borrow money or obtain other
extensions of credit or to consummate the transactions contemplated by this
Agreement or to perform its obligations under any Loan Document to which it is
a party.

 

(r)            Margin Stock.  None of the Borrower, any other Loan Party or
any other Subsidiary is engaged principally, or as one of its important
activities, in the business of extending credit for the purpose, whether
immediate, incidental or ultimate, of buying or carrying “margin stock” within
the meaning of Regulation U of the Board of Governors of the Federal
Reserve System.

 

(s)           Affiliate Transactions.  Except as permitted by Section 9.8. or
as otherwise set forth on Schedule 6.1.(s), none of the Borrower, any other
Loan Party or any other Subsidiary is a party to or bound by any agreement or
arrangement  with any Affiliate.

 

(t)            Intellectual Property.  Each of the Loan Parties and each other
Subsidiary owns or has the right to use, under valid license agreements or
otherwise, all patents, licenses, franchises, trademarks, trademark rights,
service marks, service mark rights, 
trade names, trade name rights, trade secrets and copyrights
(collectively, “Intellectual Property”) necessary to the conduct of its
businesses, without known conflict with any patent, license, franchise,
trademark, trademark right, service mark, service mark right, trade secret,
trade name, copyright, or other proprietary right of any other Person except
for such Intellectual Property, the absence of which, and for conflicts which,
could not reasonably be expected to have a Material Adverse Effect. Each of the
Loan Parties and each other Subsidiary has taken all such steps as it deems
reasonably necessary to protect its respective rights under and with respect to
such Intellectual Property.  No material
claim has been asserted by any Person with respect to the use of any such
Intellectual Property by the Borrower, any other Loan Party or any other
Subsidiary, or challenging or questioning the validity or effectiveness of any
such Intellectual Property.  The use of
such Intellectual Property by the Borrower, the other Loan Parties and the
other Subsidiaries does not infringe on the rights of any Person, subject to
such claims and infringements as do not, in the aggregate, give rise to any
liabilities on the part of the Borrower, any other Loan Party or any other
Subsidiary that could reasonably be expected to have a Material Adverse Effect.

 

(u)           Business.  As of the Agreement Date, the Borrower and
its Subsidiaries are engaged substantially in the business of owning, operating
and developing office and industrial assets, together with other business
activities incidental thereto, as currently in use at the Properties.

 

(v)           Broker’s Fees.  No broker’s or finder’s fee, commission or
similar compensation will be payable with respect to the transactions
contemplated hereby.  No other similar
fees or commissions will be payable by any Loan Party for any other services
rendered to the Borrower, any other Loan Party or any other Subsidiary
ancillary to the transactions contemplated hereby.

 

(w)          Accuracy and Completeness of
Information.  All written
information, reports and other papers and data (other than financial
projections and other forward looking statements) furnished to the
Administrative Agent or any Lender by, on behalf of, or at the direction of,
the Borrower, any other Loan Party or any other Subsidiary were, at the time
the same were so furnished, complete and correct in all material respects, to
the extent necessary to give the recipient a true and accurate knowledge of the

 

58

 

subject
matter, or, in the case of financial statements, present fairly, in accordance
with GAAP consistently applied throughout the periods involved, the financial
position of the Persons involved as at the date thereof and the results of
operations for such periods (subject, as to interim statements, to changes
resulting from normal year end audit adjustments and absence of full footnote
disclosure).  All financial projections
and other forward looking statements prepared by or on behalf of the Borrower,
any other Loan Party or any other Subsidiary that have been or may hereafter be
made available to the Administrative Agent or any Lender were or will be
prepared in good faith based on reasonable assumptions.  No fact is known to any Loan Party which has
had, or may in the future have (so far as any Loan Party can reasonably
foresee), a Material Adverse Effect which has not been set forth in the
financial statements referred to in Section 6.1.(k) or in such
information, reports or other papers or data or otherwise disclosed in writing
to the Administrative Agent and the Lenders. 
No document furnished or written statement made to the Administrative
Agent or any Lender in connection with the negotiation, preparation or
execution of, or pursuant to, this Agreement or any of the other Loan Documents
contains or will contain any untrue statement of a material fact, or omits or
will omit to state a material fact necessary in order to make the statements
contained therein not misleading.

 

(x)            Not Plan Assets; No
Prohibited Transactions.  None
of the assets of the Borrower, any other Loan Party or any other Subsidiary
constitutes “plan assets” within the meaning of ERISA, the Internal Revenue
Code and the respective regulations promulgated thereunder.  Assuming that no Lender funds any amount
payable by it hereunder with “plan assets,” as that term is defined in 29
C.F.R. 2510.3-101, the execution, delivery and performance of this Agreement
and the other Loan Documents, and the extensions of credit and repayment of
amounts hereunder, do not and will not constitute “prohibited transactions”
under ERISA or the Internal Revenue Code.

 

(y)           OFAC.  None of the Borrower, any of the other Loan
Parties, any of the other Subsidiaries, or any other Affiliate of the Borrower:
(i) is a person named on the list of Specially Designated Nationals or Blocked
Persons maintained by the U.S. Department of the Treasury’s Office of Foreign
Assets Control (“OFAC”) available at
http://www.treas.gov/offices/enforcement/ofac/index.shtml or as otherwise
published from time to time; (ii) is (A) an agency of the government of a
country, (B) an organization controlled by a country, or (C) a person resident
in a country that is subject to a sanctions program identified on the list
maintained by OFAC and available at http://www.treas.gov/offices/enforcement/ofac/index.shtml,
or as otherwise published from time to time, as such program may be applicable
to such agency, organization or person; or (iii) derives any of its assets or
operating income from investments in or transactions with any such country,
agency, organization or person; and none of the proceeds from any Loan, and
none of the Letters of Credit, will be used to finance any operations,
investments or activities in, or make any payments to, any such country, agency,
organization, or person.

 

(z)            Unencumbered Assets;
Unencumbered Mortgage Notes.  As of the Agreement Date, Part I of
Schedule 6.1.(z) is a correct and complete list of all Unencumbered Assets
and Part II of Schedule 6.1.(z) is a correct and complete list of all
Unencumbered Mortgage Notes.  Each of the
Properties included by the Borrower in calculations of Unencumbered Asset Value
satisfies all of the requirements contained in the definition of “Unencumbered
Asset”.  Each of the promissory notes
included by the Borrower in calculations of Unencumbered Asset Value satisfies
all of the requirements contained in the definition of “Unencumbered Mortgage
Note”.

 

Section 6.2.  Survival of Representations and Warranties,
Etc.

 

All
statements contained in any certificate, financial statement or other
instrument delivered by or on behalf of any Loan Party or any other Subsidiary
to the Administrative Agent or any Lender pursuant to or in connection with
this Agreement or any of the other Loan Documents (including, but not limited

 

59

 

to,
any such statement made in or in connection with any amendment thereto or any
statement contained in any certificate, financial statement or other instrument
delivered by or on behalf of any Loan Party prior to the Agreement Date and
delivered to the Administrative Agent or any Lender in connection with the
underwriting or closing the transactions contemplated hereby) shall constitute
representations and warranties made by the Borrower under this Agreement.  All representations and warranties made under
this Agreement and the other Loan Documents shall be deemed to be made at and
as of the Agreement Date, the Effective Date, the date on which any extension
of the Termination Date is effectuated pursuant to Section 2.12.  and at and as of the date of the occurrence of each Credit
Event, except to the extent that such representations and warranties expressly
relate solely to an earlier date (in which case such representations and
warranties shall have been true and accurate on and as of such earlier date)
and except for changes in factual circumstances expressly and specifically
permitted hereunder.  All such
representations and warranties shall survive the effectiveness of this
Agreement, the execution and delivery of the Loan Documents and the making of
the Loans and the issuance of the Letters of Credit.

 

ARTICLE VII. AFFIRMATIVE
COVENANTS

 

For
so long as this Agreement is in effect, the Borrower shall comply with the
following covenants:

 

Section 7.1.  Preservation of Existence and Similar
Matters.

 

Except
as otherwise permitted under Section 9.4., the Borrower shall, and shall
cause each other Loan Party and each other Subsidiary to, preserve and maintain
its respective existence, rights, franchises, licenses and privileges in the
jurisdiction of its incorporation or formation and qualify and remain qualified
and authorized to do business in each jurisdiction in which the character of
its properties or the nature of its business requires such qualification and
authorization and where the failure to be so authorized and qualified could
reasonably be expected to have a Material Adverse Effect.

 

Section 7.2.  Compliance with Applicable Law and Material
Contracts.

 

The
Borrower shall, and shall cause each other Loan Party and each other Subsidiary
to, comply with (a) all Applicable Law, including the obtaining of all
Governmental Approvals, the failure with which to comply could reasonably be
expected to have a Material Adverse Effect, and (b) all terms and conditions of
all Material Contracts to which it is a party.

 

Section 7.3.  Maintenance of Property.

 

In
addition to the requirements of any of the other Loan Documents, the Borrower
shall, and shall cause each other Loan Party and each other Subsidiary to,
(a) protect and preserve all of its respective material properties, or
cause to be protected and preserved, including, but not limited to, all
Intellectual Property necessary to the conduct of its respective business, and
maintain, or cause to be maintained, in good repair, working order and
condition all tangible properties, ordinary wear and tear excepted, and
(b) from time to time make or cause to be made all needed and appropriate
repairs, renewals, replacements and additions to such properties, so that the
business carried on in connection therewith may be properly and advantageously
conducted at all times.

 

Section 7.4.  Conduct of Business.

 

The
Borrower shall, and shall cause each other Loan Party and each other Subsidiary
to, carry on its respective businesses as described in Section 6.1.(u).

 

60

 

Section 7.5.  Insurance.

 

In
addition to the requirements of any of the other Loan Documents, the Borrower
shall, and shall cause each other Loan Party and each other Subsidiary to,
maintain, or cause to be maintained, insurance (on a replacement cost basis)
with financially sound and reputable insurance companies against such risks and
in such amounts as is customarily maintained by Persons engaged in similar
businesses or as may be required by Applicable Law. The Borrower shall from
time to time deliver to the Administrative Agent upon request a detailed list,
together with copies of all policies of the insurance then in effect, stating
the names of the insurance companies, the amounts and rates of the insurance,
the dates of the expiration thereof and the properties and risks covered
thereby.

 

Section 7.6.  Payment of
Taxes and Claims.

 

The
Borrower shall, and shall cause each other Loan Party and each other Subsidiary
to, pay and discharge, or cause to be paid and discharged, when due
(a) all taxes, assessments and governmental charges or levies imposed upon
it or upon its income or profits or upon any properties belonging to it, and
(b) all lawful claims of materialmen, mechanics, carriers, warehousemen
and landlords for labor, materials, supplies and rentals which, if unpaid,
might become a Lien on any properties of such Person; provided, however, that
this Section shall not require the payment or discharge of any such tax,
assessment, charge, levy or claim which is being contested in good faith by appropriate
proceedings which operate to suspend the collection thereof and for which
adequate reserves have been established on the books of such Person in
accordance with GAAP.

 

Section 7.7.  Books and
Records; Inspections.

 

The
Borrower shall, and shall cause each other Loan Party and each other Subsidiary
to, keep proper books of record and account in which full, true and correct
entries shall be made of all dealings and transactions in relation to its
business and activities in accordance with GAAP and Applicable Law.  The Borrower shall, and shall cause each
other Loan Party and each other Subsidiary to, permit representatives of the Administrative Agent or any Lender to
visit and inspect any of their respective properties, to examine and make
abstracts from any of their respective books and records and to discuss their
respective affairs, finances and accounts with their respective officers,
employees and independent public accountants (in the presence of an officer of
the Borrower if an Event of Default does not then exist), all at such
reasonable times during business hours and as often as may reasonably be
requested and so long as no Event of Default exists, with reasonable prior
notice.  The Borrower shall be obligated
to reimburse the Administrative Agent and the Lenders for their costs and
expenses incurred in connection with the exercise of their rights under this
Section only if such exercise occurs while a Default or Event of Default
exists.  If requested by the
Administrative Agent, the Borrower shall execute an authorization letter
addressed to its accountants authorizing the Administrative Agent or any Lender
to discuss the financial affairs of the Borrower, any other Loan Party or any
other Subsidiary with the Borrower’s accountants.

 

Section 7.8.  Use of
Proceeds.

 

The
Borrower will use the proceeds of Loans only for the repayment of Indebtedness,
the acquisition of Properties, working capital needs and other general business
purposes.  The Borrower shall only use
Letters of Credit for the same purposes for which it may use the proceeds of
Loans.  The Borrower shall not, and shall
not permit any other Loan Party or any other Subsidiary to, use any part of
such proceeds, or use any Letter of Credit, to purchase or carry, or to reduce
or retire or refinance any credit incurred to purchase or carry, any margin
stock (within the meaning of Regulation U or

 

61

 

Regulation X
of the Board of Governors of the Federal Reserve System) or to extend credit to
others for the purpose of purchasing or carrying any such margin stock.

 

Section 7.9.  Environmental
Matters.

 

The
Borrower shall, and shall cause each other Loan Party and each other Subsidiary
to, comply, or cause to be complied, with all Environmental Laws the failure
with which to comply could reasonably be expected to have a Material Adverse
Effect.  The Borrower shall comply, and
shall cause each other Loan Party and each other Subsidiary to comply, and the
Borrower shall use, and shall cause each other Loan Party and each other
Subsidiary to use, commercially reasonable efforts to cause all other Persons
occupying, using or present on the Properties to comply, with all Environmental
Laws the failure with which to comply could reasonably be expected to have a
Material Adverse Effect.  The Borrower
shall, and shall cause each other Loan Party and each other Subsidiary to,
promptly take all actions and pay or arrange to pay all costs necessary for it
and for the Properties to comply with all Environmental Laws and all
Governmental Approvals the failure with which to comply could reasonably be
expected to have a Material Adverse Effect, including actions to remove and
dispose of all Hazardous Materials and to clean up the Properties as required
under Environmental Laws.  The Borrower
shall, and shall cause each other Loan Party and each other Subsidiary to,
promptly take, or cause to be taken, all actions necessary to prevent the
imposition of any Liens on any of their respective properties arising out of or
related to any Environmental Laws. 
Nothing in this Section shall impose any obligation or liability
whatsoever on the Administrative Agent or any Lender.

 

Section 7.10.  Further
Assurances.

 

At
the Borrower’s cost and expense and upon request of the Administrative Agent,
the Borrower shall, and shall cause each other Loan Party and each other
Subsidiary to, duly execute and deliver or cause to be duly executed and
delivered, to the Administrative Agent such further instruments, documents and
certificates, and do and cause to be done such further acts that may be
reasonably necessary or advisable in the reasonable opinion of the
Administrative Agent to carry out more effectively the provisions and purposes
of this Agreement and the other Loan Documents.

 

Section 7.11.  REIT Status.

 

The Borrower shall maintain its status as a REIT.

 

Section 7.12.  Exchange
Listing.

 

The
Borrower shall maintain at least one class of common shares of the Borrower
having trading privileges on the New York Stock Exchange or the American Stock
Exchange or which is subject to price quotations on The NASDAQ Stock Market’s
National Market System.

 

Section 7.13.  Guarantors.

 

(a)           Within thirty (30) days of any Person
becoming a Material Subsidiary (other than an Excluded Subsidiary)  after the Agreement Date, the Borrower shall deliver to the
Administrative Agent each of the following in form and substance satisfactory
to the Administrative Agent: (i) an Accession Agreement executed by such
Subsidiary and (ii) the items that would have been delivered under
subsections (iv) through (viii), and (xvi) of Section 5.1.(a) if such
Subsidiary had been a Material
Subsidiary on the Agreement Date; provided, however, promptly
(and in any event within 30 days) upon any Excluded Subsidiary ceasing to be
subject to the restriction which prevented it from becoming a

 

62

 

Guarantor on the Effective Date or delivering an
Accession Agreement pursuant to this Section, as the case may be, such
Subsidiary shall comply with the provisions of this Section.

 

(b)           The Borrower may request in writing
that the Administrative Agent release, and upon receipt of such request the
Administrative Agent shall release, a Guarantor from the Guaranty so long as:
(i) such Guarantor is not otherwise required to be a party to the Guaranty
under the immediately preceding subsection (a); (ii) no Default or
Event of Default shall then be in existence or would occur as a result of such
release, including without limitation, a Default or Event of Default resulting
from a violation of any of the covenants contained in Section 9.1.;
(iii) the representations and warranties made or deemed made by the
Borrower and each other Loan Party in the Loan Documents to which any of them
is a party, shall be true and correct on and as of the date of such release
with the same force and effect as if made on and as of such date except to the
extent that such representations and warranties expressly relate solely to an
earlier date (in which case such representations and warranties shall have been
true and accurate on and as of such earlier date) and except for changes in
factual circumstances expressly permitted under the Loan Documents; and
(iv) the Administrative Agent shall have received such written request at
least 10 Business Days (or such shorter period as may be acceptable to the
Administrative Agent) prior to the requested date of release.  Delivery by the Borrower to the
Administrative Agent of any such request shall constitute a representation by
the Borrower that the matters set forth in the preceding sentence (both as of
the date of the giving of such request and as of the date of the effectiveness
of such request) are true and correct with respect to such request.

 

ARTICLE VIII. INFORMATION

 

For
so long as this Agreement is in effect, the Borrower shall furnish to the
Administrative Agent for distribution to each of the Lenders:

 

Section 8.1.  Quarterly
Financial Statements.

 

As
soon as available and in any event within 5 days after the same is filed with the Securities and Exchange
Commission (but in no event later than 45
days after the close of each of the first, second and third fiscal quarters of
the Borrower), the unaudited consolidated balance sheet of the Borrower and its
Subsidiaries as at the end of such period and the related unaudited
consolidated statements of income, shareholders’
equity and cash flows of the Borrower and its Subsidiaries for such
period, setting forth in each case in comparative form the figures as of the
end of and for the corresponding periods of the previous fiscal year, all of
which shall be certified by the chief financial officer or chief accounting
officer of the Borrower, in his or her opinion, to present fairly, in
accordance with GAAP and in all material respects, the consolidated financial
position of the Borrower and its Subsidiaries as at the date thereof and the
results of operations for such period (subject to normal year-end audit
adjustments).  Together with such
financial statements, the Borrower shall deliver reports, in form and detail
satisfactory to the Administrative Agent, setting forth: (a) a statement
of Funds From Operations for the fiscal quarter then ending; (b) a listing
of capital expenditures made during the fiscal quarter then ended; (c) a
listing of all Properties acquired during such fiscal quarter, including the
net operating income of each such Property, acquisition costs and related
mortgage debt, if any; and (d) an updated listing of all Material Contracts on
Schedule 6.1.(h), if any.

 

Section 8.2.  Year-End
Statements.

 

As
soon as available and in any event within 5 days after the same is filed with the Securities and Exchange
Commission (but in no event later than 90
days after the end of each fiscal year of the Borrower), the audited
consolidated balance sheet of the Borrower and its Subsidiaries as at the end
of such fiscal year and the related audited consolidated statements of income,
shareholders’ equity and cash

 

63

 

flows
of the Borrower and its Subsidiaries for such fiscal year, setting forth in
comparative form the figures as at the end of and for the previous fiscal year,
all of which shall be (a) certified by the chief financial officer or
chief accounting officer of the Borrower, in his or her opinion, to present
fairly, in accordance with GAAP and in all material respects, the financial
position of the Borrower and its Subsidiaries as at the date thereof and the
result of operations for such period and (b) accompanied by the report
thereon of Ernst &Young LLP or any other independent certified public
accountants of recognized national standing, whose certificate shall be
unqualified and who shall have authorized the Borrower to deliver such
financial statements and certification thereof to the Administrative Agent and
the Lenders pursuant to this Agreement. 
Together with such financial statements, the Borrower shall deliver a
report, certified by the chief financial officer or chief accounting officer of
Borrower, in form and detail reasonably satisfactory to the Administrative
Agent, setting forth the Net Operating Income for each Property for such fiscal
year.

 

Section 8.3.  Compliance
Certificate.

 

At
the time the financial statements are furnished pursuant to the immediately
preceding Sections 8.1. and 8.2., and within 5 Business Days of the
Administrative Agent’s request with respect to any other fiscal period, a
certificate substantially in the form of Exhibit K (a “Compliance
Certificate”) executed on behalf of the Borrower by the chief financial officer
or chief accounting officer of the Borrower (a) setting forth in
reasonable detail as of the end of such quarterly accounting period or fiscal
year, as the case may be, the calculations required to establish whether the Borrower
was in compliance with the covenants contained in Section 9.1.; and
(b) stating that, to the best of his or her knowledge, information and
belief after due inquiry, no Default or Event of Default exists, or, if such is
not the case, specifying such Default or Event of Default and its nature, when
it occurred and the steps being taken by the Borrower with respect to such
event, condition or failure.

 

Section 8.4.  Other
Information.

 

(a)           Promptly upon receipt thereof, copies
of all material reports, if any, submitted to the Borrower or its Board of
Trustees by its independent public accountants, any in any event all management
reports;

 

(b)           Within five (5) Business Days of
the filing thereof, copies of all registration statements (excluding the exhibits
thereto (unless requested by the Administrative Agent) and any registration
statements on Form S-8 or its equivalent), reports on Forms 10-K, 10-Q and 8-K
(or their equivalents) and all other periodic reports which any Loan Party or
any other Subsidiary shall file with the Securities and Exchange Commission (or
any Governmental Authority substituted therefor) or any national securities
exchange;

 

(c)           Promptly upon the mailing thereof to
the shareholders of the Borrower generally, copies of all financial statements,
reports and proxy statements so mailed and promptly upon the issuance thereof
copies of all press releases issued by the Borrower, any Subsidiary or any
other Loan Party;

 

(d)           If any ERISA Event shall occur that
individually, or together with any other ERISA Event that has occurred, could
reasonably be expected to have a Material Adverse Effect, a certificate of the
chief executive officer or chief financial officer of the Borrower setting
forth details as to such occurrence and the action, if any, which the Borrower
or applicable member of the ERISA Group is required or proposes to take;

 

(e)           To the extent any Loan Party or any
other Subsidiary is aware of the same, prompt notice of the commencement of any
proceeding or investigation by or before any Governmental Authority and

 

64

 

any
action or proceeding in any court or other tribunal or before any arbitrator
against or in any other way relating adversely to, or adversely affecting, the
any Loan Party or any other Subsidiary or any of their respective properties,
assets or businesses which could reasonably be expected to have a Material
Adverse Effect, and prompt notice of the receipt of notice that any United
States income tax returns of any Loan Party or any other Subsidiary are being
audited;

 

(f)            A copy of any amendment to the
certificate or articles of incorporation or formation, bylaws, partnership
agreement or other similar organizational documents of the Borrower or any
other Loan Party promptly upon the Administrative Agent’s request;

 

(g)           Prompt notice of any change in the
senior management of the Borrower, any Subsidiary or any other Loan Party and
any change in the business, assets, liabilities, financial condition, results
of operations or business prospects of any Loan Party or any other Subsidiary
which has had, or could reasonably be expected to have, a Material Adverse
Effect;

 

(h)           Prompt notice of the occurrence of
any of the following promptly upon a Responsible Officer obtaining knowledge
thereof: (i) Default or Event of Default or (ii) any event which constitutes or
which with the passage of time, the giving of notice, or otherwise, would
constitute a default or event of default by any Loan Party or any other
Subsidiary under any Material Contract to which any such Person is a party or
by which any such Person or any of its respective properties may be bound;

 

(i)            Prompt notice of any order, judgment
or decree in excess of $5,000,000 having been entered against any Loan Party or
any other Subsidiary or any of their respective properties or assets;

 

(j)            Prompt notice if the Borrower, any
Subsidiary or any other Loan Party shall receive any notification from any
Governmental Authority alleging a violation of any Applicable Law or any inquiry
which could reasonably be expected to have a Material Adverse Effect;

 

(k)           Prompt notice of the acquisition,
incorporation or other creation of any Material Subsidiary, the purpose for
such Subsidiary, the nature of the assets and liabilities thereof and whether
such Subsidiary is a Wholly Owned Subsidiary of the Borrower;

 

(l)            Promptly upon the request of the
Administrative Agent, evidence of the Borrower’s calculation of the Ownership
Share with respect to a Subsidiary or an Unconsolidated Affiliate, such
evidence to be in form and detail satisfactory to the Administrative Agent;

 

(m)          Promptly, upon Borrower becoming aware
of any change in the Borrower’s Credit Rating, a certificate stating that the
Borrower’s Credit Rating has changed and the new Credit Rating that is in
effect;

 

(n)           Promptly, upon each request,
information identifying the Borrower as a Lender may request in order to comply
with the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law
October 26, 2001));

 

(o)           Promptly, and in any event within 3
Business Days after the Borrower obtains knowledge thereof, written notice of
the occurrence of any of the following: 
(i) the Borrower, any Loan Party or any other Subsidiary shall
receive notice that any violation of or noncompliance with any Environmental
Law has or may have been committed or is threatened; (ii) the Borrower,
any Loan Party or any other Subsidiary shall receive notice that any
administrative or judicial complaint, order or petition has been filed or other
proceeding has been initiated, or is about to be filed or initiated against any
such Person alleging any violation of or noncompliance with any Environmental
Law or requiring any such Person to

 

65

 

take
any action in connection with the release or threatened release of Hazardous
Materials; (iii) the Borrower, any Loan Party or any other Subsidiary
shall receive any notice from a Governmental Authority or private party
alleging that any such Person may be liable or responsible for any costs
associated with a response to, or remediation or cleanup of, a release or
threatened release of Hazardous Materials or any damages caused thereby; or
(iv) the Borrower, any Loan Party or any other Subsidiary shall receive notice
of any other fact, circumstance or condition that could reasonably be expected
to form the basis of an environmental claim, in each case, where the matters
covered by such notice(s) under clauses (i) through (iv), whether individually
or in the aggregate, could reasonably be expected to have a Material Adverse
Effect; and

 

(p)           From time to time and promptly upon
each request, such data, certificates, reports, statements, opinions of
counsel, documents or further information regarding any Property or the business,
assets, liabilities, financial condition, results of operations or business
prospects of the Borrower, any of its Subsidiaries, or any other Loan Party as
the Administrative Agent or any Lender may reasonably request.

 

Section 8.5.  Electronic
Delivery of Certain Information.

 

(a)           Documents required to be delivered
pursuant to the Loan Documents shall be delivered by electronic communication
and delivery, including, the Internet, e-mail or intranet websites to which the
Administrative Agent and each Lender have access (including a commercial,
third-party website such as www.Edgar.com <http://www.Edgar.com> or a
website sponsored or hosted by the Administrative Agent or the Borrower)
provided that the foregoing shall not apply to (i) notices to any Lender (or
the Issuing Bank) pursuant to Article II. and (ii) any Lender that has notified
the Administrative Agent and the Borrower that it cannot or does not want to
receive electronic communications.  The
Administrative Agent or the Borrower may, in its discretion, agree to accept
notices and other communications to it hereunder by electronic delivery
pursuant to procedures approved by it for all or particular notices or
communications.  Documents or notices
delivered electronically shall be deemed to have been delivered twenty-four
(24) hours after the date and time on which the Administrative Agent or the
Borrower posts such documents or the documents become available on a commercial
website and the Administrative Agent or Borrower notifies each Lender of said
posting and provides a link thereto provided (x) if such notice or other
communication is not sent or posted during the normal business hours of the
recipient, said posting date and time shall be deemed to have commenced as of
10:00 a.m. Eastern time on the next business day for the recipient and
(y) if the deemed time of delivery occurs on a day that is not a business
day for the recipient, the deemed time of delivery shall be 10:00 a.m. Eastern
time on the next business day for the recipient.  Notwithstanding anything contained herein, in
every instance the Borrower shall be required to provide paper copies of the
certificate required by Section 8.3. to the Administrative Agent and shall
deliver paper copies of any documents to the Administrative Agent or to any
Lender that requests such paper copies until a written request to cease
delivering paper copies is given by the Administrative Agent or such
Lender.  Except for the certificates
required by Section 8.3., the Administrative Agent shall have no obligation to
request the delivery of or to maintain paper copies of the documents delivered
electronically, and in any event shall have no responsibility to monitor
compliance by the Borrower with any such request for delivery.  Each Lender shall be solely responsible for
requesting delivery to it of paper copies and maintaining its paper or
electronic documents.

 

(b)           Documents required to be delivered
pursuant to Article II. may be delivered electronically to a website provided
for such purpose by the Administrative Agent pursuant to the procedures
provided to the Borrower by the Administrative Agent.

 

66

 

Section 8.6.  Public/Private
Information.

 

The
Borrower shall cooperate with the Administrative Agent in connection with the
publication of certain materials and/or information provided by or on behalf of
the Borrower.  Documents required to be
delivered pursuant to the Loan Documents shall be delivered by or on behalf of
the Borrower to the Administrative Agent and the Lenders (collectively, “Information
Materials”) pursuant to this Article and the Borrower shall designate
Information Materials (a) that are either available to the public or not
material with respect to the Borrower and its Subsidiaries or any of their
respective securities for purposes of United States federal and state
securities laws, as “Public Information” and (b) that are not Public
Information as “Private Information”.

 

Section 8.7.  USA Patriot
Act Notice; Compliance.

 

The
USA Patriot Act of 2001 (Public Law 107-56) and federal regulations issued with
respect thereto require all financial institutions to obtain, verify and record
certain information that identifies individuals or business entities which open
an “account” with such financial institution. 
Consequently, a Lender (for itself and/or as Administrative Agent for
all Lenders hereunder) may from time-to-time request, and the Borrower shall,
and shall cause the other Loan Parties to, provide to such Lender, such Loan
Party’s name, address, tax identification number and/or such other
identification information as shall be necessary for such Lender to comply with
federal law.  An “account” for this
purpose may include, without limitation, a deposit account, cash management
service, a transaction or asset account, a credit account, a loan or other
extension of credit, and/or other financial services product.

 

ARTICLE IX. NEGATIVE COVENANTS

 

For
so long as this Agreement is in effect, the Borrower shall comply with the
following covenants:

 

Section 9.1.  Financial
Covenants.

 

(a)           Leverage Ratio.  The Borrower shall not permit the ratio of
(i) Total Indebtedness to (ii) Total Asset Value to exceed 0.60 to
1.00 at any time.

 

(b)           Minimum Fixed Charge Coverage
Ratio.  The Borrower shall not permit
the ratio of (i) Adjusted EBITDA for the fiscal quarter of the Borrower
most recently ending to (ii) Fixed Charges for such period, to be less
than 1.50 to 1.00 at any time.

 

(c)           Secured Indebtedness.  The Borrower shall not permit the ratio of
(i) Secured Indebtedness of the Borrower and its Subsidiaries to
(ii) Total Asset Value to be greater than 0.350 to 1.00 at any time.

 

(d)           Unencumbered Leverage Ratio.  The Borrower shall not permit the ratio of
(i) Unencumbered Asset Value to (ii) Unsecured Indebtedness, to be
less than 1.670 to 1.00 at any time.

 

(e)           Unencumbered Interest Coverage
Ratio.  The Borrower shall not permit
the ratio of (i) Unencumbered Net Operating Income to (ii) Unsecured
Debt Service for the Borrower’s fiscal quarter most recently ending, to be less
than 1.750 to 1.0 at any time.

 

(f)            Minimum Tangible Net Worth.  The Borrower shall not permit Tangible Net
Worth at any time to be less than (i) $3,360,000,000 plus (ii) 75% of
the Net Proceeds of all Equity Issuances

 

67

 

effected
by the Borrower or any Subsidiary (other than Equity Issuances to the Borrower
or any Subsidiary) after the Agreement Date.

 

(g)           Total Assets Owned by Borrower and Guarantors.  The
Borrower shall not permit the amount of
Total Asset Value directly owned by the Borrower and the Guarantors to be less
than 95.0% of Total Asset Value (excluding the amount of Total Asset Value, if
any, then attributable to Excluded Subsidiaries).

 

(h)           Permitted Investments. The
Borrower shall not, and shall not permit any Loan Party or other Subsidiary to,
make an Investment in or otherwise own the following items which would cause
the aggregate value of such holdings of such Persons to exceed the following
percentages of Total Asset Value at any time:

 

(i)            Investments in
Unconsolidated Affiliates and other Persons that are not Subsidiaries, such
that the aggregate value of such Investments (determined in a manner consistent
with the definition of Total Asset Value or, if not contemplated under the
definition of Total Asset Value, as determined in accordance with GAAP) exceeds
15.0% of Total Asset Value at any time;

 

(ii)           Assets Under
Development, such that the aggregate Construction Budget for all such Assets
Under Development exceeds 10.0% of Total Asset Value at any time; for purposes
of this clause: (x) “Construction Budget” means the fully-budgeted costs
for the acquisition and construction of a given piece of real property
(including without limitation, the cost of acquiring such piece of real
property (except to the extent any portion thereof is Unimproved Land included
in the immediately following clause (iv)), reserves for construction
interest and operating deficits, tenant improvements, leasing commissions, and
infrastructure costs), as reasonably determined by the Borrower in good faith
and (y) real property under construction to be (but not yet) acquired by
the Borrower or a Subsidiary upon completion of construction pursuant to a
contract in which the seller of such real property is required to complete
construction prior to, and as a condition precedent to, such acquisition, shall
be subject to this subsection;

 

(iii)          Mortgage
Receivables, such that the aggregate book value of such Mortgage Receivables
exceeds 10.0% of Total Asset Value at any time; and

 

(iv)          Unimproved Land such
that the aggregate book value of all such Unimproved Land exceeds 5.0% of Total
Asset Value at any time.

 

(i)            Dividends and Other Restricted
Payments.   Subject to the following
sentence, if an Event of Default exists, the Borrower shall not, and shall not
permit any of its Subsidiaries to, declare or make any Restricted Payments
except that the Borrower may declare and make cash distributions to its
shareholders  in an aggregate amount not
to exceed the minimum amount necessary for the Borrower to remain in compliance
with Section 7.11.  If an Event of Default specified in
Section 10.1.(a),
Section 10.1.(e) or
Section 10.1.(f) shall
exist, or if as a result of the occurrence of any other Event of Default any of
the Obligations have been accelerated pursuant to Section 10.2.(a), the Borrower shall not, and
shall not permit any Subsidiary to, make any Restricted Payments to any Person
except that Subsidiaries may pay Restricted Payments to the Borrower or any
other Subsidiary.

 

Section 9.2.  Negative
Pledge.

 

(a)           The Borrower shall not, and shall not
permit any other Loan Party or any other Subsidiary to, create, assume, or
incur any Lien (other than Permitted Liens) upon any of its properties,

 

68

 

assets,
income or profits of any character whether now owned or hereafter acquired if
immediately prior to the creation, assumption or incurring of such Lien, or
immediately thereafter, a Default or Event of Default is or would be in
existence, including without limitation, a Default or Event of Default
resulting from a violation of any of the covenants contained in
Section 9.1.

 

(b)           The Borrower shall not, and shall not
permit any other Loan Party or any other Subsidiary (other than an Excluded
Subsidiary) to, enter into, assume or otherwise be bound by any Negative Pledge
except for a Negative Pledge contained in (i) an agreement
(x) evidencing Indebtedness which (A) the Borrower, such Loan Party
or such Subsidiary may create, incur, assume, or permit or suffer to exist
without violation of this Agreement and (B)  is secured by a Lien
permitted to exist under the Loan Documents, and (y) which prohibits the
creation of any other Lien on only the property securing such Indebtedness as
of the date such agreement was entered into; or (ii) an agreement relating
to the sale of a Subsidiary or assets pending such sale, provided that in any
such case the Negative Pledge applies only to the Subsidiary or the assets that
are the subject of such sale.

 

Section 9.3.  Restrictions
on Intercompany Transfers.

 

The
Borrower shall not, and shall not permit any other Loan Party or any other
Subsidiary  (other than an Excluded Subsidiary)
to, create or otherwise cause or suffer to exist or become effective any
consensual encumbrance or restriction of any kind on the ability of any
Subsidiary (other than an Excluded Subsidiary) to: (a) pay dividends or
make any other distribution on any of such Subsidiary’s capital stock or other
equity interests owned by the Borrower or any Subsidiary; (b) pay any
Indebtedness owed to the Borrower or any Subsidiary; (c) make loans or
advances to the Borrower or any Subsidiary; or (d) transfer any of its
property or assets to the Borrower or any Subsidiary; other than (i) with
respect to clauses (a) through (d) those encumbrances or restrictions contained
in  any Loan Document or, (ii) with
respect to clause (d), customary provisions restricting assignment of any
agreement entered into by the Borrower, any other Loan Party or any Subsidiary
in the ordinary course of business.

 

Section 9.4.  Merger,
Consolidation, Sales of Assets and Other Arrangements.

 

The
Borrower shall not, and shall not permit any other Loan Party or any other
Subsidiary to, (i) enter into any transaction of merger or consolidation;
(ii) liquidate, windup or dissolve itself (or suffer any liquidation or
dissolution); or (iii) convey, sell, lease, sublease, transfer or
otherwise dispose of, in one transaction or a series of transactions, all or
any substantial part of its business or assets, or the capital stock of or
other Equity Interests in any of its Subsidiaries, whether now owned or
hereafter acquired; provided, however, that:

 

(a)           any of the actions described in the
immediately preceding clauses (i) through (iii) may be taken with respect
to any Subsidiary or any other Loan Party (other than the Borrower) so long as
immediately prior to the taking of such action, and immediately thereafter and
after giving effect thereto, no Default or Event of Default is or would be in
existence;

 

(b)           the Borrower, its Subsidiaries and
the other Loan Parties may lease and sublease their respective assets, as
lessor or sublessor (as the case may be), in the ordinary course of their
business;

 

(c)           a Person may merge with and into the
Borrower so long as (i) the Borrower is the survivor of such merger,
(ii) immediately prior to such merger, and immediately thereafter and
after giving effect thereto, no Default or Event of Default is or would be in
existence; and (iii) the Borrower shall have given the Agent and the
Lenders at least 10 Business Days’ prior written notice of such merger (except
that such prior notice shall not be required in the case of the merger of a
Subsidiary with and into the Borrower); and

 

69

 

(d)           the Borrower and each Subsidiary may
sell, transfer or dispose of assets among themselves.

 

Section 9.5.  Plans.

 

The
Borrower shall not, and shall not permit any other Loan Party or any other Subsidiary
to, permit any of its respective assets to become or be deemed to be “plan
assets” within the meaning of ERISA, the Internal Revenue Code and the
respective regulations promulgated thereunder. 
The  Borrower shall not cause or
permit to occur, and shall not permit any other member of the ERISA Group to
cause or permit to occur, any ERISA Event if such ERISA Event could reasonably
be expected to have a Material Adverse Effect.

 

Section 9.6.  Fiscal Year.

 

The
Borrower shall not, and shall not permit any other Loan Party or other
Subsidiary to, change its fiscal year from that in effect as of the Agreement
Date.

 

Section 9.7.  Modifications
of Organizational Documents and Material Contracts.

 

(a)           The Borrower shall not, and shall not
permit any other Loan Party or any other Subsidiary to, amend, supplement,
restate or otherwise modify its certificate or articles of incorporation or
formation, by-laws, operating agreement, declaration of trust, partnership
agreement or other applicable organizational document if such amendment,
supplement, restatement or other modification (a) could reasonably be expected
to be adverse to the interest of the Lenders in any material respect or
(b) could reasonably be expected to have a Material Adverse Effect.

 

(b)           The Borrower shall not default in any
material respect in the performance of any of its obligations under the
Business Management Agreement or the Property Management Agreement or permit
the Business Management Agreement or the Property Management Agreement to be canceled
or terminated prior to its stated maturity. The Borrower shall not enter into
any material amendment, modification or waiver of or with respect to any of the
terms of the Business Management Agreement or the Property Management
Agreement, except for extensions thereof. 
With respect to Material Contracts other than the Business Management
Agreement and the Property Management Agreement, the Borrower shall not, and
shall not permit any Subsidiary or other Loan Party to, enter into any
amendment or modification to any such Material Contract which could reasonably
be expected to have a Material Adverse Effect.

 

Section 9.8.  Transactions
with Affiliates.

 

The
Borrower shall not permit to exist or enter into, and shall not permit any
other Loan Party or any other Subsidiary to permit to exist or enter into, any
transaction (including the purchase, sale, lease or exchange of any property or
the rendering of any service) with any Affiliate, except (a) as set forth
on Schedule 6.1.(s) or (b) transactions in the ordinary course of and
pursuant to the reasonable requirements of the business of the Borrower, such
other Loan Party or such other Subsidiary and upon fair and reasonable terms
which are no less favorable to the Borrower, such other Loan Party or such
other Subsidiary than would be obtained in a comparable arm’s length
transaction with a Person that is not an Affiliate.

 

70

 

Section 9.9.  Environmental Matters.

 

The
Borrower shall not, and shall not permit any other Loan Party, any other
Subsidiary or any other Person to, use, generate, discharge, emit, manufacture,
handle, process, store, release, transport, remove, dispose of or clean up any
Hazardous Materials on, under or from the Properties in violation of any
Environmental Law or in a manner that could lead to any environmental claim or
pose a risk to human health, safety or the environment, in each case, that
could reasonably be expected to have a Material Adverse Effect.  Nothing in this Section shall impose any
obligation or liability whatsoever on the Administrative Agent or any Lender.

 

Section 9.10.  Derivatives Contracts.

 

The
Borrower shall not, and shall not permit any other Loan Party or any other
Subsidiary to enter into or become obligated in respect of, Derivatives
Contracts, other than Derivatives Contracts entered into by the Borrower, any
such Loan Party or any such Subsidiary in the ordinary course of business and
which establish an effective hedge in respect of liabilities, commitments or
assets held or reasonably anticipated by the Borrower, such other Loan Party or
such other Subsidiary.

 

ARTICLE X. DEFAULT

 

Section 10.1.  Events of Default.

 

Each
of the following shall constitute an Event of Default, whatever the reason for
such event and whether it shall be voluntary or involuntary or be effected by
operation of Applicable Law or pursuant to any judgment or order of any
Governmental Authority:

 

(a)           Default in Payment.  The Borrower (i) shall fail to pay when due
under this Agreement or any other Loan Document (whether upon demand, at
maturity, by reason of acceleration or otherwise) the principal of any of the
Loans or any Reimbursement Obligation or (ii) shall fail to pay when due any
interest on any of the Loans or any of the other payment Obligations owing by
the Borrower under this Agreement, any other Loan Document or the Fee Letter or
any other Loan Party shall fail to pay when due any payment Obligation owing by
such other Loan Party under any Loan Document to which it is a party, and such
failure shall continue for a period of 5 Business Days.

 

(b)           Default in Performance.

 

(i)            Any Loan Party
shall fail to perform or observe any term, covenant, condition or agreement on
its part to be performed or observed and contained in Section 8.4.(h) or
Article IX.; or

 

(ii)           Any Loan Party
shall fail to perform or observe any term, covenant, condition or agreement
contained in this Agreement or any other Loan Document to which it is a party
and not otherwise mentioned in this Section, and in the case of this subsection
(b)(ii) only, such failure shall continue for a period of 30 days after the
earlier of (x) the date upon which a Responsible Officer of the Borrower
or such other Loan Party obtains knowledge of such failure or (y) the date
upon which the Borrower has received written notice of such failure from the
Administrative Agent.

 

(c)           Misrepresentations.  Any written statement, representation or
warranty made or deemed made by or on behalf of any Loan Party under this
Agreement or under any other Loan Document, or any amendment hereto or thereto,
or in any other writing or statement at any time furnished by, or at the 

 

71

 

direction
of, any Loan Party to the Administrative Agent, the Issuing Bank or any Lender,
shall at any time prove to have been incorrect or misleading, in light of the
circumstances in which made or deemed made, in any material respect when
furnished or made or deemed made.

 

(d)           Indebtedness Cross-Default.

 

(i)            The Borrower,
any other Loan Party or any other Subsidiary shall fail to pay when due and
payable the principal of, or interest on, any Indebtedness (other than the
Loans and Reimbursement Obligations) having an aggregate outstanding principal
amount (or, in the case of any Derivatives Contract, having a Derivatives
Termination Value) of $25,000,000 or more (or $75,000,000 or more in the case
of Nonrecourse Indebtedness of Excluded Subsidiaries) (“Material Indebtedness”);
or

 

(ii)           (x) The
maturity of any Material Indebtedness shall have been accelerated in accordance
with the provisions of any indenture, contract or instrument evidencing,
providing for the creation of or otherwise concerning such Material
Indebtedness or (y) any Material Indebtedness shall have been required to
be prepaid or repurchased prior to the stated maturity thereof; or

 

(iii)          Any other event
shall have occurred and be continuing which, with or without the passage of
time, the giving of notice, or otherwise, would permit any holder or holders of
any Material Indebtedness, any trustee or agent acting on behalf of such holder
or holders or any other Person, to accelerate the maturity of any such Material
Indebtedness or require any such Material Indebtedness to be prepaid or
repurchased prior to its stated maturity.

 

(e)           Voluntary Bankruptcy
Proceeding.  The
Borrower, any other Loan Party or any Subsidiary (other than (x) an Excluded
Subsidiary all Indebtedness of which is Nonrecourse Indebtedness, (y) a
Guarantor that, together with all other Guarantors then subject to a bankruptcy
proceeding or other proceeding or condition described in this subsection or the
immediately following subsection, does not account for more than $25,000,000 of
Total Asset Value, or (z) a Subsidiary (other than an Excluded Subsidiary
all the Indebtedness of which is Nonrecourse Indebtedness) that, together with
all other Subsidiaries then subject to a bankruptcy proceeding or other proceeding
or condition described in this subsection or the immediately following
subsection, does not account for more than $50,000,000 of Total Asset Value)
shall:  (i) commence a voluntary
case under the Bankruptcy Code, or other federal bankruptcy laws (as now or
hereafter in effect); (ii) file a petition seeking to take advantage of
any other Applicable Laws, domestic or foreign, relating to bankruptcy,
insolvency, reorganization, winding-up, or composition or adjustment of debts;
(iii) consent to, or fail to contest in a timely and appropriate manner,
any petition filed against it in an involuntary case under such bankruptcy laws
or other Applicable Laws or consent to any proceeding or action described in
the immediately following subsection; (iv) apply for or consent to, or
fail to contest in a timely and appropriate manner, the appointment of, or the
taking of possession by, a receiver, custodian, trustee, or liquidator of
itself or of a substantial part of its property, domestic or foreign;
(v) admit in writing its inability to pay its debts as they become due;
(vi) make a general assignment for the benefit of creditors;
(vii) make a conveyance fraudulent as to creditors under any Applicable
Law; or (viii) take any corporate or partnership action for the purpose of
effecting any of the foregoing.

 

(f)            Involuntary Bankruptcy
Proceeding.  A case or
other proceeding shall be commenced against the Borrower, any other Loan Party
or any Subsidiary (other than (x) an Excluded Subsidiary all Indebtedness of
which is Nonrecourse Indebtedness, (y) a Guarantor that, together with all
other Guarantors then subject to a bankruptcy proceeding or other proceeding or
condition described in this subsection or the immediately preceding subsection,
does not account for more than $25,000,000 of Total 

 

72

 

Asset
Value, or (z) a Subsidiary (other than an Excluded Subsidiary all the
Indebtedness of which is Nonrecourse Indebtedness) that, together with all
other Subsidiaries then subject to a bankruptcy proceeding or other proceeding
or condition described in this subsection or the immediately preceding
subsection, does not account for more than $50,000,000 of Total Asset Value) or
any other Loan Party, in any court of competent jurisdiction seeking:  (i) relief under the Bankruptcy Code, or
other federal bankruptcy laws (as now or hereafter in effect) or under any
other Applicable Laws, domestic or foreign, relating to bankruptcy, insolvency,
reorganization, winding-up, or composition or adjustment of debts; or
(ii) the appointment of a trustee, receiver, custodian, liquidator or the
like of such Person, or of all or any substantial part of the assets, domestic
or foreign, of such Person, and such case or proceeding shall continue undismissed
or unstayed for a period of 60 consecutive calendar days, or an order
granting the remedy or other relief requested in such case or proceeding
against the Borrower, such Subsidiary or such other Loan Party (including, but
not limited to, an order for relief under such Bankruptcy Code or such other
federal bankruptcy laws) shall be entered.

 

(g)           Revocation of Loan Documents.  Any Loan Party shall (or shall attempt to)
disavow, revoke or terminate any Loan Document or the Fee Letter to which it is
a party or shall otherwise challenge or contest in any action, suit or
proceeding in any court or before any Governmental Authority the validity or
enforceability of any Loan Document or the Fee Letter or any Loan Document or
the Fee Letter shall cease to be in full force and effect (except as a result
of the express terms thereof).

 

(h)           Judgment.   A judgment or order for the payment of money
or for an injunction or other non-monetary relief shall be entered against the
Borrower, any other Loan Party, or any other Subsidiary by any court or other
tribunal and (i) such judgment or order shall continue for a period of
thirty (30) days without being paid, stayed or dismissed through appropriate
appellate proceedings and (ii) either (A) the amount of such judgment
or order (x) for which insurance has not been acknowledged in writing by the
applicable insurance carrier (or the amount as to which the insurer has denied
liability) or (y) is not otherwise subject to indemnification or
reimbursement on reasonable terms and conditions by Persons reasonably likely
to honor such indemnification or reimbursement obligations, exceeds,
individually or together with all other such judgments or orders entered
against (1) in the case of the Borrower or any Guarantor, $25,000,000, or (2)
in the case of any other Subsidiaries, $50,000,000 or (B) in the case of
an injunction or other non-monetary relief, such injunction or judgment or
order could reasonably be expected to have a Material Adverse Effect.

 

(i)            Attachment.  A warrant, writ of attachment, execution or
similar process shall be issued against any property of the Borrower, any other
Loan Party or any other Subsidiary, which exceeds, individually or together
with all other such warrants, writs, executions and processes, (1) for the
Borrower or any Guarantor, $25,000,000, or (2) for any other Subsidiaries,
$50,000,000, and such warrant, writ, execution or process shall not be paid,
discharged, vacated, stayed or bonded for a period of thirty (30) days;
provided, however, that if a bond has been issued in favor of the claimant or
other Person obtaining such warrant, writ, execution or process, the issuer of
such bond shall execute a waiver or subordination agreement in form and
substance satisfactory to the Administrative Agent pursuant to which the issuer
of such bond subordinates its right of reimbursement, contribution or
subrogation to the Obligations and waives or subordinates any Lien it may have
on the assets of the Borrower or any Subsidiary.

 

(j)            ERISA.

 

(i)            Any ERISA Event
shall have occurred that results or could reasonably be expected to result in
liability to any member of the ERISA Group aggregating in excess of
$10,000,000; or

 

73

 

(ii)           The “benefit
obligation” of all Plans exceeds the “fair market value of plan assets” for
such Plans by more than $10,000,000, all as determined, and with such terms
defined, in accordance with FASB ASC 715.

 

(k)           Loan Documents.  An Event of Default (as defined therein)
shall occur under any of the other Loan Documents.

 

(l)            Change of Control.

 

(i)            Any “person” or
“group” (as such terms are used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)), is or becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that
a Person will be deemed to have “beneficial ownership” of all securities that
such Person has the right to acquire, whether such right is exercisable
immediately or only after the passage of time), directly or indirectly, of more
than 15.0 % of the total voting power of the then outstanding voting stock of
the Borrower;

 

(ii)           During any
period of 12 consecutive months ending after the Agreement Date, individuals
who at the beginning of any such 12-month period constituted the Board of
Trustees of the Borrower (together with any new trustees whose election by such
Board or whose nomination for election by the shareholders of the Borrower was
approved by a vote of a majority of the trustees then still in office who were
either directors at the beginning of such period or whose election or
nomination for election was previously so approved) cease for any reason to
constitute a majority of the Board of Directors of the Borrower then in office;
or

 

(iii)          RMR shall cease for any reason to act as the sole
business manager and property manager for the Borrower.

 

Section 10.2.  Remedies Upon Event of Default.

 

Upon
the occurrence of an Event of Default the following provisions shall apply:

 

(a)           Acceleration; Termination of
Facilities.

 

(i)            Automatic.  Upon the occurrence of an Event of Default
specified in Sections 10.1.(e) or 10.1.(f), (1)(A) the principal of, and
all accrued interest on, the Loans and the Notes at the time outstanding,
(B) an amount equal to the Stated Amount of all Letters of Credit
outstanding as of the date of the occurrence of such Event of Default for
deposit into the Letter of Credit Collateral Account and (C) all of the
other Obligations, including, but not limited to, the other amounts owed to the
Lenders and the Administrative Agent under this Agreement, the Notes or any of
the other Loan Documents shall become immediately and automatically due and
payable without presentment, demand, protest, or other notice of any kind, all
of which are expressly waived by the Borrower on behalf of itself and the other
Loan Parties, and (2) the Commitments and the Swingline Commitment and the
obligation of the Issuing Bank to issue Letters of Credit hereunder, shall all
immediately and automatically terminate.

 

(ii)           Optional.  If any other Event of Default shall exist,
the Administrative Agent may, and at the direction of the Requisite Lenders
shall:  (1) declare (A) the
principal of, and accrued interest on, the Loans and the Notes at the time
outstanding, (B) an amount equal to the Stated Amount of all Letters of
Credit outstanding as of the date of the occurrence of such Event of Default
for deposit into the Letter of Credit Collateral Account and (C) all of
the other 

 

74

 

Obligations,
including, but not limited to, the other amounts owed to the Lenders and the
Administrative Agent under this Agreement, the Notes or any of the other Loan
Documents to be forthwith due and payable, whereupon the same shall immediately
become due and payable without presentment, demand, protest or other notice of
any kind, all of which are expressly waived by the Borrower on behalf of itself
and the other Loan Parties, and (2) terminate the Commitments and the Swingline
Commitment and the obligation of the Issuing Bank to issue Letters of Credit
hereunder.

 

(b)           Loan Documents.  The Requisite Lenders may direct the
Administrative Agent to, and the Administrative Agent if so directed shall,
exercise any and all of its rights under any and all of the other Loan
Documents.

 

(c)           Applicable Law.  The Requisite Lenders may direct the
Administrative Agent to, and the Administrative Agent if so directed shall,
exercise all other rights and remedies it may have under any Applicable Law.

 

(d)           Appointment of Receiver.  To the extent permitted by Applicable Law,
the Administrative Agent and the Lenders shall be entitled to the appointment
of a receiver for the assets and properties of the Borrower and its
Subsidiaries, without notice of any kind whatsoever and without regard to the
adequacy of any security for the Obligations or the solvency of any party bound
for its payment, to take possession of all or any portion of the property
and/or the business operations of the Borrower and its Subsidiaries and to
exercise such power as the court shall confer upon such receiver.

 

(e)           Specified Derivatives
Contract Remedies. 
Notwithstanding any other provision of this Agreement or other Loan
Document, each Specified Derivatives Provider shall have the right, with prompt
notice to the Administrative Agent, but without the approval or consent of or
other action by the Administrative Agent or the Lenders, and without limitation
of other remedies available to such Specified Derivatives Provider under contract
or Applicable Law, in each case, in accordance with the terms of the applicable
Specified Derivatives Contract, to undertake any of the following:  (a) to declare an event of default,
termination event or other similar event under any Specified Derivatives
Contract and to create an “Early Termination Date” (as defined therein) in
respect thereof, (b) to determine net termination amounts in respect of any and
all Specified Derivatives Contracts in accordance with the terms thereof, and
to set off amounts among such contracts, (c) to set off or proceed against
deposit account balances, securities account balances and other property and
amounts held by such Specified Derivatives Provider pursuant to any Derivatives
Support Document, including any “Posted Collateral” (as defined in any credit
support annex included in any such Derivatives Support Document to which such
Specified Derivatives Provider may be a party), and (d) to prosecute any legal
action against the Borrower, any Loan Party or other Subsidiary to enforce or
collect net amounts owing to such Specified Derivatives Provider pursuant to
any Specified Derivatives Contract.

 

Section 10.3.  Remedies Upon Default.

 

Upon
the occurrence of a Default specified in Section 10.1.(f), the Commitments
shall immediately and automatically terminate.

 

Section 10.4.  Marshaling; Payments Set Aside.

 

None
of the Administrative Agent, the Issuing Bank, any Lender or any Specified
Derivatives Provider shall be under any obligation to marshal any assets in
favor of any Loan Party or any other party or against or in payment of any or
all of the Obligations or the Specified Derivatives Obligations.  To the extent that any Loan Party makes a
payment or payments to the Administrative Agent, the Issuing Bank, 

 

75

 

any
Lender or any Specified Derivatives Provider, or the Administrative Agent, the
Issuing Bank, any Lender or any Specified Derivatives Provider enforce their
security interests or exercise their rights of setoff, and such payment or
payments or the proceeds of such enforcement or setoff or any part thereof are
subsequently invalidated, declared to be fraudulent or preferential, set aside
and/or required to be repaid to a trustee, receiver or any other party under
any bankruptcy law, state or federal law, common law or equitable cause, then
to the extent of such recovery, the Obligations or Specified Derivatives
Obligations, or part thereof originally intended to be satisfied, and all
Liens, rights and remedies therefor, shall be revived and continued in full
force and effect as if such payment had not been made or such enforcement or
setoff had not occurred.

 

Section 10.5.  Allocation of Proceeds.

 

If
an Event of Default exists and maturity of any of the Obligations has been
accelerated, all payments received by the Administrative Agent under any of the
Loan Documents, in respect of any principal of or interest on the Obligations
or any other amounts payable by the Borrower hereunder or thereunder, shall be
applied in the following order and priority:

 

(a)           amounts due to
the Administrative Agent, the Issuing Bank and the Lenders in respect of
expenses due under Section 12.2. until paid in full, and then Fees;

 

(b)           payments of
interest on Swingline Loans;

 

(c)           payments of
interest on all other Loans and Reimbursement Obligations to be applied for the
ratable benefit of the Lenders;

 

(d)           payments of
principal of Swingline Loans;

 

(e)           payments of
principal of all other Loans, Reimbursement Obligations and other Letter of
Credit Liabilities, to be applied for the ratable benefit of the Lenders in
such order and priority as the Lenders may determine in their sole discretion;
provided, however, to the extent that any amounts available for distribution
pursuant to this subsection are attributable to the issued but undrawn amount
of an outstanding Letter of Credit, such amounts shall be paid to the
Administrative Agent for deposit into the Letter of Credit Collateral Account;

 

(f)            amounts due to
the Administrative Agent and the Lenders pursuant to Sections 11.6. and
12.10.;

 

(g)           payments of all
other amounts due under any of the Loan Documents, if any, to be applied for
the ratable benefit of the Lenders; and

 

(h)           any amount
remaining after application as provided above, shall be paid to the Borrower or
whomever else may be legally entitled thereto.

 

Section 10.6.  Letter of
Credit Collateral Account.

 

(a)           As collateral security for
the prompt payment in full when due of all Letter of Credit Liabilities and the
other Obligations, the Borrower hereby pledges and grants to the Administrative
Agent, for the ratable benefit of the Administrative Agent, the Issuing Bank
and the Lenders as provided herein, a security interest in all of its right,
title and interest in and to the Letter of Credit Collateral Account and the
balances from time to time in the Letter of Credit Collateral Account
(including the investments and reinvestments therein provided for below).  The balances from time to time in the Letter 

 

76

 

of
Credit Collateral Account shall not constitute payment of any Letter of Credit
Liabilities until applied by the Issuing Bank as provided herein.  Anything in this Agreement to the contrary
notwithstanding, funds held in the Letter of Credit Collateral Account shall be
subject to withdrawal only as provided in this Section.

 

(b)           Amounts on deposit in the
Letter of Credit Collateral Account shall be invested and reinvested by the
Administrative Agent in such Cash Equivalents as the Administrative Agent shall
determine in its sole discretion.  All
such investments and reinvestments shall be held in the name of and be under
the sole dominion and control of the Administrative Agent for the ratable
benefit of the Administrative Agent, the Issuing Bank and the Lenders; provided,
that all earnings on such investments will be credited to and retained in the
Letter of Credit Collateral Account.  The
Administrative Agent shall exercise reasonable care in the custody and
preservation of any funds held in the Letter of Credit Collateral Account and
shall be deemed to have exercised such care if such funds are accorded
treatment substantially equivalent to that which the Administrative Agent
accords other funds deposited with the Administrative Agent, it being
understood that the Administrative Agent shall not have any responsibility for
taking any necessary steps to preserve rights against any parties with respect
to any funds held in the Letter of Credit Collateral Account.

 

(c)           If a drawing pursuant to any
Letter of Credit occurs on or prior to the expiration date of such Letter of
Credit, the Borrower and the Lenders authorize the Administrative Agent to use
the monies deposited in the Letter of Credit Collateral Account to reimburse
the Issuing Bank for the payment made by the Issuing Bank to the beneficiary
with respect to such drawing or the payee with respect to such presentment.

 

(d)           If an Event of Default
exists, the Administrative Agent may (and, if instructed by the Requisite
Lenders, shall) in its (or their) discretion at any time and from time to time
elect to liquidate any such investments and reinvestments and apply the
proceeds thereof to the Obligations in accordance with Section 10.5.

 

(e)           So long as no Default or
Event of Default exists, and to the extent amounts on deposit in or credited to
the Letter of Credit Collateral Account exceed the aggregate amount of the
Letter of Credit Liabilities then due and owing, the Administrative Agent
shall, from time to time, at the request of the Borrower, deliver to the
Borrower within 5 Business Days after the Administrative Agent’s receipt of
such request from the Borrower, against receipt but without any recourse,
warranty or representation whatsoever, such of amount of the credit balances in
the Letter of Credit Collateral Account as exceeds the aggregate amount of
Letter of Credit Liabilities at such time. 
When all of the Obligations shall have been indefeasibly paid in full
and no Letters of Credit remain outstanding, the Administrative Agent shall
deliver to the Borrower, against receipt but without any recourse, warranty or
representation whatsoever, the balances remaining in the Letter of Credit
Collateral Account.

 

(f)            The Borrower shall pay to
the Administrative Agent from time to time such fees as the Administrative
Agent normally charges for similar services in connection with the
Administrative Agent’s administration of the Letter of Credit Collateral
Account and investments and reinvestments of funds therein.

 

Section 10.7.  Performance
by Administrative Agent.

 

If
the Borrower shall fail to perform any covenant, duty or agreement contained in
any of the Loan Documents, the Administrative Agent may, after notice to the
Borrower, perform or attempt to perform such covenant, duty or agreement on
behalf of the Borrower after the expiration of any cure or grace periods set
forth herein.  In such event, the
Borrower shall, at the request of the Administrative 

 

77

 

Agent,
promptly pay any amount reasonably expended by the Administrative Agent in such
performance or attempted performance to the Administrative Agent, together with
interest thereon at the applicable Post-Default Rate from the date of such
expenditure until paid.  Notwithstanding
the foregoing, neither the Administrative Agent nor any Lender shall have any
liability or responsibility whatsoever for the performance of any obligation of
the Borrower under this Agreement or any other Loan Document.

 

Section 10.8.  Rights
Cumulative.

 

The
rights and remedies of the Administrative Agent, the Issuing Bank, the Lenders
and the Specified Derivatives Providers under this Agreement, each of the other
Loan Documents, the Fee Letter and Specified Derivatives Contracts shall be
cumulative and not exclusive of any rights or remedies which any of them may
otherwise have under Applicable Law.  In
exercising their respective rights and remedies the Administrative Agent, the
Issuing Bank, the Lenders and the Specified Derivatives Providers may be selective
and no failure or delay by the Administrative Agent, the Issuing Bank, any of
the Lenders or any of the Specified Derivatives Providers in exercising any
right shall operate as a waiver of it, nor shall any single or partial exercise
of any power or right preclude its other or further exercise or the exercise of
any other power or right.

 

ARTICLE XI. THE
ADMINISTRATIVE AGENT

 

Section 11.1.  Appointment
and Authorization.

 

Each
Lender hereby irrevocably appoints and authorizes the Administrative Agent to
take such action as contractual representative on such Lender’s behalf and to
exercise such powers under this Agreement and the other Loan Documents as are
specifically delegated to the Administrative Agent by the terms hereof and
thereof, together with such powers as are reasonably incidental thereto. Not in
limitation of the foregoing, each Lender authorizes and directs the
Administrative Agent to enter into the Loan Documents for the benefit of the
Lenders.  Each Lender hereby agrees that,
except as otherwise set forth herein, any action taken by the Requisite Lenders
in accordance with the provisions of this Agreement or the Loan Documents, and
the exercise by the Requisite Lenders of the powers set forth herein or
therein, together with such other powers as are reasonably incidental thereto,
shall be authorized and binding upon all of the Lenders.  Nothing herein shall be construed to deem the
Administrative Agent a trustee or fiduciary for any Lender or to impose on the
Administrative Agent duties or obligations other than those expressly provided
for herein.  Without limiting the
generality of the foregoing, the use of the terms “Agent”, “Administrative
Agent”, “agent” and similar terms in the Loan Documents with reference to the
Administrative Agent is not intended to connote any fiduciary or other implied
(or express) obligations arising under agency doctrine of any Applicable
Law.  Instead, use of such terms is
merely a matter of market custom, and is intended to create or reflect only an
administrative relationship between independent contracting parties.  The Administrative Agent shall deliver to
each Lender, promptly upon receipt thereof by the Administrative Agent, copies
of each of the financial statements, certificates, notices and other documents
delivered to the Administrative Agent pursuant to Article VIII. that the
Borrower is not otherwise required to deliver directly to the Lenders.  The Administrative Agent will furnish to any
Lender, upon the request of such Lender, a copy (or, where appropriate, an
original) of any document, instrument, agreement, certificate or notice
furnished to the Administrative Agent by the Borrower, any other Loan Party or
any other Affiliate of the Borrower, pursuant to this Agreement or any other
Loan Document not already delivered to such Lender pursuant to the terms of
this Agreement or any such other Loan Document. 
As to any matters not expressly provided for by the Loan Documents
(including, without limitation, enforcement or collection of any of the Obligations),
the Administrative Agent shall not be required to exercise any discretion or
take any action, but shall be required to act or to refrain from acting (and
shall be fully protected in so acting or refraining from acting) upon the
instructions of the Requisite Lenders (or all of the Lenders if explicitly
required under any other provision 

 

78

 

of
this Agreement), and such instructions shall be binding upon all Lenders and
all holders of any of the Obligations; provided, however, that, notwithstanding
anything in this Agreement to the contrary, the Administrative Agent shall not
be required to take any action which exposes the Administrative Agent to
personal liability or which is contrary to this Agreement or any other Loan
Document or Applicable Law.  Not in
limitation of the foregoing, the Administrative Agent may exercise any right or
remedy it or the Lenders may have under any Loan Document upon the occurrence of
a Default or an Event of Default unless the Requisite Lenders have directed the
Administrative Agent otherwise.  Without
limiting the foregoing, no Lender shall have any right of action whatsoever
against the Administrative Agent as a result of the Administrative Agent acting
or refraining from acting under this Agreement or any of the other Loan
Documents in accordance with the instructions of the Requisite Lenders, or
where applicable, all the Lenders.

 

Section 11.2.  Wells Fargo as Lender.

 

Wells
Fargo, as a Lender shall have the same rights and powers under this Agreement
and any other Loan Document as any other Lender and may exercise the same as
though it were not the Administrative Agent; and the term “Lender” or “Lenders”
shall, unless otherwise expressly indicated, include Wells Fargo in each case
in its individual capacity.  Wells Fargo
and its affiliates may each accept deposits from, maintain deposits or credit
balances for, invest in, lend money to, act as trustee under indentures of,
serve as financial advisor to, and generally engage in any kind of business
with the Borrower, any other Loan Party or any other affiliate thereof as if it
were any other bank and without any duty to account therefor to the Issuing
Bank, or the other Lenders.  Further, the
Administrative Agent and any affiliate may accept fees and other consideration
from the Borrower for services in connection with this Agreement, or otherwise
without having to account for the same to the Issuing Bank, or the other
Lenders.  The Issuing Bank and the
Lenders acknowledge that, pursuant to such activities, Wells Fargo or its
affiliates may receive information regarding the Borrower, other Loan Parties,
other Subsidiaries and other Affiliates (including information that may be
subject to confidentiality obligations in favor of such Person) and acknowledge
that the Administrative Agent shall be under no obligation to provide such
information to them.

 

Section 11.3.  Approvals of Lenders.

 

All
communications from the Administrative Agent to any Lender requesting such
Lender’s determination, consent, approval or disapproval (a) shall be
given in the form of a written notice to such Lender, (b) shall be
accompanied by a description of the matter or issue as to which such
determination, approval, consent or disapproval is requested, or shall advise
such Lender where information, if any, regarding such matter or issue may be
inspected, or shall otherwise describe the matter or issue to be resolved,
(c) shall include, if reasonably requested by such Lender and to the
extent not previously provided to such Lender, written materials and, as
appropriate, a brief summary of all oral information provided to the
Administrative Agent by the Borrower in respect of the matter or issue to be
resolved, and (d) shall include the Administrative Agent’s recommended
course of action or determination in respect thereof.  Unless a Lender shall give written notice to
the Administrative Agent that it specifically objects to the recommendation or
determination of the Administrative Agent (together with a reasonable written
explanation of the reasons behind such objection) within ten (10) Business
Days (or such lesser or greater period as may be specifically required under
the express terms of the Loan Documents) of receipt of such communication, such
Lender shall be deemed to have conclusively approved of or consented to such
recommendation or determination.

 

79

 

Section 11.4.  Notice of Events of Default.

 

The
Administrative Agent shall not be deemed to have knowledge or notice of the
occurrence of a Default or Event of Default unless the Administrative Agent has
received notice from a Lender or the Borrower referring to this Agreement,
describing with reasonable specificity such Default or Event of Default and
stating that such notice is a “notice of default.”  If any Lender (excluding the Lender which is
also serving as the Administrative Agent) becomes aware of any Default or Event
of Default, it shall promptly send to the Administrative Agent such a “notice of
default”.  Further, if the Administrative
Agent receives such a “notice of default,” the Administrative Agent shall give
prompt notice thereof to the Lenders.

 

Section 11.5.  Administrative Agent’s Reliance.

 

Notwithstanding
any other provisions of this Agreement or any other Loan Documents, neither the
Administrative Agent nor any of its directors, officers, agents, employees or
counsel shall be liable for any action taken or not taken by it under or in
connection with this Agreement or any other Loan Document, except for its or
their own gross negligence or willful misconduct in connection with its duties
expressly set forth herein or therein as determined by a court of competent
jurisdiction in a final non-appealable judgment.  Without limiting the generality of the
foregoing, the Administrative Agent may consult with legal counsel (including
its own counsel or counsel for the Borrower or any other Loan Party),
independent public accountants and other experts selected by it and shall not
be liable for any action taken or omitted to be taken in good faith by it in
accordance with the advice of such counsel, accountants or experts.  Neither the Administrative Agent nor any of
its directors, officers, agents, employees or counsel: (a) makes any
warranty or representation to any Lender, the Issuing Bank or any other Person,
or shall be responsible to any Lender, the Issuing Bank or any other Person for
any statement, warranty or representation made or deemed made by the Borrower,
any other Loan Party or any other Person in or in connection with this
Agreement or any other Loan Document; (b) shall have any duty to ascertain or
to inquire as to the performance or observance of any of the terms, covenants
or conditions of this Agreement or any other Loan Document or the satisfaction
of any conditions precedent under this Agreement or any Loan Document on the
part of the Borrower or other Persons, or to inspect the property, books or
records of the Borrower or any other Person; (c) shall be responsible to
any Lender or the Issuing Bank for the due execution, legality, validity,
enforceability, genuineness, sufficiency or value of this Agreement or any
other Loan Document, any other instrument or document furnished pursuant
thereto or any collateral covered thereby or the perfection or priority of any
Lien in favor of the Administrative Agent on behalf of the Lenders, the Issuing
Bank and the Specified Derivatives Providers in any such collateral; (d) shall
have any liability in respect of any recitals, statements, certifications,
representations or warranties contained in any of the Loan Documents or any
other document, instrument, agreement, certificate or statement delivered in
connection therewith; and (e) shall incur any liability under or in respect of
this Agreement or any other Loan Document by acting upon any notice, consent,
certificate or other instrument or writing (which may be by telephone, telecopy
or electronic mail) believed by it to be genuine and signed, sent or given by
the proper party or parties.  The
Administrative Agent may execute any of its duties under the Loan Documents by
or through agents, employees or attorneys-in-fact and shall not be responsible
for the negligence or misconduct of any agent or attorney-in-fact that it
selects in the absence of gross negligence or willful misconduct as determined
by a court of competent jurisdiction in a final non-appealable judgment.

 

Section 11.6.  Indemnification of Administrative Agent.

 

Each
Lender agrees to indemnify the Administrative Agent (to the extent not
reimbursed by the Borrower and without limiting the obligation of the Borrower
to do so) pro rata in accordance with such Lender’s respective Commitment
Percentage, from and against any and all liabilities, obligations, losses, 

 

80

 

damages,
penalties, actions, judgments, suits, reasonable out-of-pocket costs and
expenses of any kind or nature whatsoever which may at any time be imposed on,
incurred by, or asserted against the Administrative Agent (in its capacity as
Administrative Agent but not as a Lender) in any way relating to or arising out
of the Loan Documents, any transaction contemplated hereby or thereby or any
action taken or omitted by the Administrative Agent under the Loan Documents (collectively,
“Indemnifiable Amounts”); provided, however, that no Lender shall be liable for
any portion of such Indemnifiable Amounts to the extent resulting from the
Administrative Agent’s gross negligence or willful misconduct as determined by
a court of competent jurisdiction in a final, non-appealable judgment; provided,
however, that no action taken in accordance with the directions of the
Requisite Lenders (or all of the Lenders, if expressly required hereunder)
shall be deemed to constitute gross negligence or willful misconduct for
purposes of this Section.  Without
limiting the generality of the foregoing, each Lender agrees to reimburse the
Administrative Agent (to the extent not reimbursed by the Borrower and without
limiting the obligation of the Borrower to do so) promptly upon demand for its
ratable share of any out-of-pocket expenses (including the reasonable fees and
expenses of the counsel to the Administrative Agent) incurred by the
Administrative Agent in connection with the preparation, negotiation,
execution, administration, or enforcement (whether through negotiations, legal
proceedings, or otherwise) of, or legal advice with respect to the rights or
responsibilities of the parties under, the Loan Documents, any suit or action
brought by the Administrative Agent to enforce the terms of the Loan Documents
and/or collect any Obligations, any “lender liability” suit or claim brought
against the Administrative Agent and/or the Lenders, and any claim or suit
brought against the Administrative Agent and/or the Lenders arising under any
Environmental Laws.  Such out-of-pocket
expenses (including counsel fees) shall be advanced by the Lenders on the
request of the Administrative Agent notwithstanding any claim or assertion that
the Administrative Agent is not entitled to indemnification hereunder upon
receipt of an undertaking by the Administrative Agent that the Administrative
Agent will reimburse the Lenders if it is actually and finally determined by a
court of competent jurisdiction that the Administrative Agent is not so
entitled to indemnification.  The
agreements in this Section shall survive the payment of the Loans and all other
amounts payable hereunder or under the other Loan Documents and the termination
of this Agreement.  If the Borrower shall
reimburse the Administrative Agent for any Indemnifiable Amount following
payment by any Lender to the Administrative Agent in respect of such
Indemnifiable Amount pursuant to this Section, the Administrative Agent shall
share such reimbursement on a ratable basis with each Lender making any such
payment.

 

Section 11.7.  Lender Credit Decision, Etc.

 

Each
of the Lenders and the Issuing Bank expressly acknowledges and agrees that
neither the Administrative Agent nor any of its officers, directors, employees,
agents, counsel, attorneys-in-fact or other affiliates has made any
representations or warranties to the Issuing Bank or such Lender and that no
act by the Administrative Agent hereafter taken, including any review of the
affairs of the Borrower, any other Loan Party or any other Subsidiary or
Affiliate, shall be deemed to constitute any such representation or warranty by
the Administrative Agent to the Issuing Bank or any Lender.  Each of the Lenders and the Issuing Bank
acknowledges that it has made its own credit and legal analysis and decision to
enter into this Agreement and the transactions contemplated hereby,
independently and without reliance upon the Administrative Agent, any other
Lender or counsel to the Administrative Agent, or any of their respective
officers, directors, employees, agents or counsel, and based on the financial
statements of the Borrower, the other Loan Parties, the other Subsidiaries and
other Affiliates, and inquiries of such Persons, its independent due diligence
of the business and affairs of the Borrower, the other Loan Parties, the other
Subsidiaries and other Persons, its review of the Loan Documents, the legal
opinions required to be delivered to it hereunder, the advice of its own
counsel and such other documents and information as it has deemed
appropriate.  Each of the Lenders and the
Issuing Bank also acknowledges that it will, independently and without reliance
upon the Administrative Agent, any other Lender or counsel to the
Administrative Agent or any of their respective officers, directors, employees 

 

81

 

and
agents, and based on such review, advice, documents and information as it shall
deem appropriate at the time, continue to make its own decisions in taking or
not taking action under the Loan Documents. 
The Administrative Agent shall not be required to keep itself informed
as to the performance or observance by the Borrower or any other Loan Party of
the Loan Documents or any other document referred to or provided for therein or
to inspect the properties or books of, or make any other investigation of, the
Borrower, any other Loan Party or any other Subsidiary.  Except for notices, reports and other
documents and information expressly required to be furnished to the Lenders and
the Issuing Bank by the Administrative Agent under this Agreement or any of the
other Loan Documents or furnished to the Administrative Agent for distribution
to the Lenders and/or the Issuing Bank, the Administrative Agent shall have no
duty or responsibility to provide any Lender or the Issuing Bank with any
credit or other information concerning the business, operations, property,
financial and other condition or creditworthiness of the Borrower, any other
Loan Party or any other Affiliate thereof which may come into possession of the
Administrative Agent or any of its officers, directors, employees, agents,
attorneys-in-fact or other Affiliates. 
Each of the Lenders and the Issuing Bank acknowledges that the
Administrative Agent’s legal counsel in connection with the transactions
contemplated by this Agreement is only acting as counsel to the Administrative
Agent and is not acting as counsel to any Lender or the Issuing Bank.

 

Section 11.8.  Successor Administrative Agent.

 

The
Administrative Agent may (a) resign at any time as Administrative Agent
under the Loan Documents by giving written notice thereof to the Lenders and
the Borrower or (b) be removed as Administrative Agent under the Loan
Documents for gross negligence or willful misconduct upon 30 day’s prior
written notice by all Lenders (other than the Lender then acting as
Administrative Agent.  Upon any such
resignation or removal, the Requisite Lenders shall have the right to appoint a
successor Administrative Agent which appointment shall, provided no Default or
Event of Default exists, be subject to the Borrower’s approval, which approval
shall not be unreasonably withheld or delayed (except that the Borrower shall,
in all events, be deemed to have approved each Lender and any of its Affiliates
as a successor Administrative Agent).  If
no successor Administrative Agent shall have been so appointed in accordance
with the immediately preceding sentence, and shall have accepted such
appointment, within 30 days after the resigning Administrative Agent’s giving
of notice of resignation or the giving of notice of removal of the
Administrative Agent, then the current Administrative Agent may, on behalf of
the Lenders and the Issuing Bank, appoint a successor Administrative Agent, which
shall be a Lender, if any Lender shall be willing to serve, and otherwise shall
be an Eligible Assignee.  Upon the
acceptance of any appointment as Administrative Agent hereunder by a successor
Administrative Agent, such successor Administrative Agent shall thereupon
succeed to and become vested with all the rights, powers, privileges and duties
of the current Administrative Agent, and the current Administrative Agent shall
be discharged from its duties and obligations under the Loan Documents.  Such successor Administrative Agent shall
issue letters of credit in substitution for the Letters of Credit, if any,
outstanding at the time of such succession or shall make other arrangements
satisfactory to the current Administrative Agent, in either case, to assume
effectively the obligations of the current Administrative Agent with respect to
such Letters of Credit.  After any
Administrative Agent’s resignation hereunder as Administrative Agent, the
provisions of this Article XI. shall continue to inure to its benefit as to any
actions taken or omitted to be taken by it while it was Administrative Agent
under the Loan Documents. 
Notwithstanding anything contained herein to the contrary, the
Administrative Agent may assign its rights and duties under the Loan Documents
to any of its Affiliates by giving the Borrower and each Lender prior written
notice.

 

Section 11.9.  Titled Agents.

 

Each
of the Lead Arrangers, the Syndication Agent, and the Documentation Agents
(each a “Titled Agent”) in each such respective capacity, assumes no
responsibility or obligation hereunder, 

 

82

 

including,
without limitation, for servicing, enforcement or collection of any of the
Loans, nor any duties as an agent hereunder for the Lenders.  The titles given to the Titled Agents are
solely honorific and imply no fiduciary responsibility on the part of the
Titled Agents to the Administrative Agent, any Lender, the Issuing Bank, the
Borrower or any other Loan Party and the use of such titles does not impose on
the Titled Agents any duties or obligations greater than those of any other
Lender or entitle the Titled Agents to any rights other than those to which any
other Lender is entitled.

 

ARTICLE XII. MISCELLANEOUS

 

Section 12.1.  Notices.

 

Unless
otherwise provided herein (including without limitation as provided in
Section 8.5.), communications provided for hereunder shall be in writing
and shall be mailed, telecopied, or delivered as follows:

 

If
to the Borrower:

 

CommonWealth REIT

400 Centre Street

Newton, Massachusetts  02458

Attention:  Chief Financial
Officer

	
  Telecopier:

  	
  (617)
  332-2261

  
	
  Telephone:

  	
  (617)
  332-3990

  

 

If
to the Administrative Agent:

 

Wells Fargo Bank, National Association

101 Federal Street, 28th Floor

Boston, Massachusetts  02110

Attention: Frederick G. Bright, Vice President

	
  Telecopier:

  	
  (617)
  261-1604

  
	
  Telephone:

  	
  (617)
  574-6310

  

 

with
a copy to:

 

Wells Fargo Bank, National Association

301 South College Street

Charlotte, NC 28288

Attention: Amit Khimji

	
  Telecopier:

  	
  (704)
  383-6205

  
	
  Telephone:

  	
  (704)
  715-1347

  

 

with
a copy to:

 

Alston & Bird LLP

1201 West Peachtree Street

Atlanta, Georgia 30309

Attention: Paul M. Cushing, Esq.

	
  Telecopier:

  	
  (404)
  881-4777

  
	
  Telephone:

  	
  (404) 881-7578

  

 

83

 

If
to the Issuing Bank:

 

Wells Fargo Bank, National Association

101 Federal Street, 28th Floor

Boston, Massachusetts  02110

Attention: Frederick G. Bright, Vice President

	
  Telecopier:

  	
  (617)
  261-1604

  
	
  Telephone:

  	
  (617)
  574-6310

  

 

with
a copy to:

 

Wells Fargo Bank, National Association

301 South College Street

Charlotte, NC 28288

Attention: Amit Khimji

	
  Telecopier:

  	
  (704)
  383-6205

  
	
  Telephone:

  	
  (704)
  715-1347

  

 

If
to any other Lender:

 

To
such Lender’s address or telecopy number as set forth in the applicable Administrative
Questionnaire

 

or,
as to each party at such other address as shall be designated by such party in
a written notice to the other parties delivered in compliance with this
Section; provided, a Lender or the Issuing Bank shall only be required to give
notice of any such other address to the Administrative Agent and the
Borrower.  All such notices and other
communications shall be effective (i) if mailed, upon the first to occur
of receipt or the expiration of three (3) days after the deposit in the United
States Postal Service mail, postage prepaid and addressed to the address of the
Borrower or the Administrative Agent, the Issuing Bank and Lenders at the
addresses specified; (ii) if telecopied, when transmitted; (iii) if
hand delivered or sent by overnight courier, when delivered; or (iv) if
delivered in accordance with Section 8.5. to the extent applicable;
provided, however, that, in the case of the immediately preceding clauses (i), (ii) and
(iii), non-receipt of any communication as of the result of any change of
address of which the sending party was not notified or as the result of a
refusal to accept delivery shall be deemed receipt of such communication.  Notwithstanding the immediately preceding
sentence, all notices or communications to the Administrative Agent, the
Issuing Bank or any Lender under Article II. shall be effective only when
actually received.  None of the
Administrative Agent, the Issuing Bank or any Lender shall incur any liability
to any Loan Party (nor shall the Administrative Agent incur any liability to
the Issuing Bank or the Lenders) for acting upon any telephonic notice referred
to in this Agreement which the Administrative Agent, the Issuing Bank or such
Lender, as the case may be, believes in good faith to have been given by a
Person authorized to deliver such notice or for otherwise acting in good faith
hereunder.  Failure of a Person
designated to get a copy of a notice to receive such copy shall not affect the
validity of notice properly given to another Person.

 

Section 12.2.  Expenses.

 

The
Borrower agrees (a) to pay or reimburse the Administrative Agent for all
of its reasonable out-of-pocket costs and expenses incurred in connection with
the preparation, negotiation and execution of, and any amendment, supplement or
modification to, any of the Loan Documents (including due diligence expense and
reasonable travel expenses related to closing), and the consummation of the
transactions contemplated hereby and thereby, including the reasonable fees and
disbursements of counsel 

 

84

 

to
the Administrative Agent and all costs and expenses of the Administrative Agent
in connection with the use of IntraLinks, SyndTrak or other similar information
transmission systems in connection with the Loan Documents and the reasonable
fees and disbursements of counsel to the Administrative Agent relating to all
such activities, (b) to pay or reimburse the Administrative Agent, the
Issuing Bank and the Lenders for all their reasonable costs and expenses
incurred in connection with the enforcement or preservation of any rights under
the Loan Documents and the Fee Letter, including the reasonable fees and
disbursements of their respective counsel (including the allocated fees and
expenses of in-house counsel) and any payments in indemnification or otherwise
payable by the Lenders to the Administrative Agent pursuant to the Loan
Documents, (c) to pay, and indemnify and hold harmless the Administrative
Agent, the Issuing Bank and the Lenders from, any and all recording and filing
fees and any and all liabilities with respect to, or resulting from any failure
to pay or delay in paying, documentary, stamp, excise and other similar taxes,
if any, which may be payable or determined to be payable in connection with the
execution and delivery of any of the Loan Documents, or consummation of any
amendment, supplement or modification of, or any waiver or consent under or in
respect of, any Loan Document and (d) to the extent not already covered by
any of the preceding subsections, to pay or reimburse the fees and
disbursements of counsel to the Administrative Agent, the Issuing Bank and any
Lender incurred in connection with the representation of the Administrative
Agent, the Issuing Bank or such Lender in any matter relating to or arising out
of any bankruptcy or other proceeding of the type described in Sections 10.1.(e) or
10.1.(f), including, without limitation (i) any motion for relief from any
stay or similar order, (ii) the negotiation, preparation, execution and
delivery of any document relating to the Obligations and (iii) the
negotiation and preparation of any debtor-in-possession financing or any plan
of reorganization of the Borrower or any other Loan Party, whether proposed by
the Borrower, such Loan Party, the Lenders or any other Person, and whether
such fees and expenses are incurred prior to, during or after the commencement
of such proceeding or the confirmation or conclusion of any such
proceeding.  If the Borrower shall fail
to pay any amounts required to be paid by it pursuant to this Section, the
Administrative Agent and/or the Lenders may pay such amounts on behalf of the
Borrower and such amounts shall be deemed to be Obligations owing hereunder.

 

Section 12.3.  Stamp, Intangible and Recording Taxes.

 

The
Borrower will pay any and all stamp, excise, intangible, registration,
recordation and similar taxes, fees or charges and shall indemnify the
Administrative Agent and each Lender against any and all liabilities with
respect to or resulting from any delay in the payment or omission to pay any
such taxes, fees or charges, which may be payable or determined to be payable
in connection with the execution, delivery, recording, performance or
enforcement of this Agreement, the Notes and any of the other Loan Documents,
the amendment, supplement, modification or waiver of or consent under this
Agreement, the Notes or any of the other Loan Documents or the perfection of
any rights or Liens under this Agreement, the Notes or any of the other Loan
Documents.

 

Section 12.4.  Setoff.

 

Subject
to Section 3.3. and in addition to any rights now or hereafter granted
under Applicable Law and not by way of limitation of any such rights, the
Borrower hereby authorizes the Administrative Agent, the Issuing Bank, each
Lender, each Affiliate of the Administrative Agent, the Issuing Bank or any
Lender, and each Participant, at any time or from time to time while an Event
of Default exists, without notice to the Borrower or to any other Person, any
such notice being hereby expressly waived, but in the case of the Issuing Bank,
a Lender, an Affiliate of the Issuing Bank or a Lender, or a Participant,
subject to receipt of the prior written consent of the Requisite Lenders
exercised in their sole discretion, to set off and to appropriate and to apply
any and all deposits (general or special, including, but not limited to,
indebtedness evidenced by certificates of deposit, whether matured or
unmatured) and any other indebtedness at any time held or owing by the Administrative
Agent, the Issuing Bank, such Lender, any 

 

85

 

Affiliate
of the Administrative Agent, the Issuing Bank or such Lender, or such
Participant, to or for the credit or the account of the Borrower against and on
account of any of the Obligations, irrespective of whether or not any or all of
the Loans and all other Obligations have been declared to be, or have otherwise
become, due and payable as permitted by Section 10.2., and although such
Obligations shall be contingent or unmatured. 
Promptly following any such set-off the Agent shall notify the Borrower
thereof and of the application of such set-off, provided that the failure to
give such notice shall not invalidate such set-off.

 

Section 12.5.  Litigation; Jurisdiction; Other Matters;
Waivers.

 

(a)           EACH PARTY HERETO
ACKNOWLEDGES THAT ANY DISPUTE OR CONTROVERSY BETWEEN OR AMONG THE BORROWER, THE
ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY OF THE LENDERS WOULD BE BASED ON
DIFFICULT AND COMPLEX ISSUES OF LAW AND FACT AND WOULD RESULT IN DELAY AND
EXPENSE TO THE PARTIES.  ACCORDINGLY, TO
THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE LENDERS, THE ADMINISTRATIVE
AGENT, THE ISSUING BANK AND THE BORROWER HEREBY WAIVES ITS RIGHT TO A TRIAL BY
JURY IN ANY ACTION OR PROCEEDING OF ANY KIND OR NATURE IN ANY COURT OR TRIBUNAL
IN WHICH AN ACTION MAY BE COMMENCED BY OR AGAINST ANY PARTY HERETO ARISING
OUT OF THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE FEE LETTER OR BY REASON
OF ANY OTHER SUIT, CAUSE OF ACTION OR DISPUTE WHATSOEVER BETWEEN OR AMONG THE
BORROWER, THE ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY OF THE LENDERS OF
ANY KIND OR NATURE RELATING TO ANY OF THE LOAN DOCUMENTS.

 

(b)           EACH OF THE BORROWER, THE
ADMINISTRATIVE AGENT, THE ISSUING BANK AND EACH LENDER HEREBY AGREES THAT THE
FEDERAL DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK AND ANY STATE COURT
LOCATED IN NEW YORK, NEW YORK SHALL HAVE JURISDICTION TO HEAR AND DETERMINE ANY
CLAIMS OR DISPUTES BETWEEN OR AMONG THE BORROWER, THE ADMINISTRATIVE AGENT, THE
ISSUING BANK OR ANY OF THE LENDERS, ARISING OUT OF THIS AGREEMENT, ANY OTHER
LOAN DOCUMENT OR THE FEE LETTER OR BY REASON OF ANY OTHER SUIT, CAUSE OF ACTION
OR DISPUTE WHATSOEVER BETWEEN OR AMONG THE BORROWER, THE ADMINISTRATIVE AGENT,
THE ISSUING BANK OR ANY OF THE LENDERS OF ANY KIND OR NATURE RELATING TO ANY OF
THE LOAN DOCUMENTS.  THE BORROWER, THE
ISSUING BANK AND EACH OF THE LENDERS EXPRESSLY SUBMIT AND CONSENT IN ADVANCE TO
SUCH JURISDICTION IN ANY ACTION OR PROCEEDING COMMENCED IN SUCH COURTS.  EACH PARTY FURTHER WAIVES ANY OBJECTION THAT
IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING
IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN
INCONVENIENT FORUM AND EACH AGREES NOT TO PLEAD OR CLAIM THE SAME.  THE CHOICE OF FORUM SET FORTH IN THIS SECTION SHALL
NOT BE DEEMED TO PRECLUDE THE BRINGING OF ANY ACTION BY THE ADMINISTRATIVE
AGENT, THE ISSUING BANK OR ANY LENDER OR THE ENFORCEMENT BY THE ADMINISTRATIVE
AGENT, THE ISSUING BANK OR ANY LENDER OF ANY JUDGMENT OBTAINED IN SUCH FORUM IN
ANY OTHER APPROPRIATE JURISDICTION.

 

(c)           THE PROVISIONS OF THIS SECTION HAVE
BEEN CONSIDERED BY EACH PARTY WITH THE ADVICE OF COUNSEL AND WITH A FULL
UNDERSTANDING OF THE LEGAL CONSEQUENCES THEREOF, AND SHALL SURVIVE THE PAYMENT
OF THE LOANS AND ALL OTHER AMOUNTS PAYABLE HEREUNDER OR UNDER THE OTHER LOAN 

 

86

 

DOCUMENTS,
THE TERMINATION OR EXPIRATION OF ALL LETTERS OF CREDIT AND THE TERMINATION OF
THIS AGREEMENT.

 

Section 12.6.  Successors and Assigns.

 

(a)           Successors and Assigns
Generally.  The
provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted
hereby, except that the Borrower may
not  assign or otherwise transfer any of
its rights or obligations hereunder without the prior written consent of the
Administrative Agent and each Lender and no Lender may assign or otherwise
transfer any of its rights or obligations hereunder except (i) to an
Eligible Assignee in accordance with the provisions of the immediately
following subsection (b), (ii) by way of participation in accordance
with the provisions of the immediately following subsection (d) or
(iii) by way of pledge or assignment of a security interest subject to the
restrictions of the immediately following subsection (f) (and subject
to the last sentence of the immediately following subsection (d), any
other attempted assignment or transfer by any party hereto shall be null and
void).  Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than
the parties hereto, their respective successors and assigns permitted hereby,
Participants to the extent provided in the immediately following
subsection (d) and, to the extent expressly contemplated hereby, the
Related Parties of the Administrative Agent and the Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement.

 

(b)           Assignments by Lenders.  Any Lender may at any time assign to one or
more Eligible Assignees all or a portion of its rights and obligations under
this Agreement (including all or a portion of its Commitment and the Loans at
the time owing to it); provided that any such assignment shall be
subject to the following conditions:

 

(i)            Minimum Amounts.

 

(A)          in the case of an assignment of the entire remaining
amount of an  assigning Lender’s
Commitment and the Loans at the time owing to it, or in the case of an
assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no
minimum amount need be assigned; and

 

(B)           in any case not described in the immediately
preceding subsection (A), the aggregate amount of the Commitment (which
for this purpose includes Loans outstanding thereunder) or, if the applicable
Commitment is not then in effect, the principal outstanding balance of the
Loans of the assigning Lender subject to each such assignment (determined as of
the date the Assignment and Assumption with respect to such assignment is delivered
to the Administrative Agent or, if “Trade Date” is specified in the Assignment
and Assumption, as of the Trade Date) shall not be less than $5,000,000, unless
each of the Administrative Agent and, so long as no Default or Event of Default
shall exist, the Borrower otherwise consents (each such consent not to be
unreasonably withheld or delayed).

 

(ii)           Proportionate
Amounts.  Each partial assignment shall
be made as an assignment of a proportionate part of all the assigning Lender’s
rights and obligations under this Agreement with respect to the Loan or the
Commitment assigned.

 

(iii)          Required
Consents.  No consent
shall be required for any assignment except to the extent required by
clause (i)(B) of this subsection (b) and, in addition:

 

87

 

(A)          the consent of the Borrower (such consent not to be
unreasonably withheld or delayed) shall be required unless (x) a Default
or Event of Default shall exist at the time of such assignment or (y) such
assignment is to a Lender, an Affiliate of a Lender or an Approved Fund;
provided that the Borrower shall be deemed to have consented to any such
assignment unless it shall object thereto by written notice to the
Administrative Agent within 5 Business Days after having received notice
thereof; and

 

(B)           the consent of the Administrative Agent (such
consent not to be unreasonably withheld or delayed) shall be required for
assignments in respect of a Commitment if such assignment is to a Person that
is not already a Lender with a Commitment, an Affiliate of such Lender or an
Approved Fund with respect to such Lender; and

 

(C) the consent of the Swingline Lender and the
Issuing Bank (such consent not to be unreasonably withheld or delayed) shall be
required for any assignment in respect of a Commitment.

 

(iv)          Assignment and
Acceptance; Notes.  The parties
to each assignment shall execute and deliver to the Administrative Agent an
Assignment and Acceptance, together with a processing and recordation fee of
$4,500 for each assignment, and the assignee, if it is not a Lender, shall
deliver to the Administrative Agent an Administrative Details Form.  If requested by the transferor Lender or the
Assignee, upon the consummation of any assignment, the transferor Lender, the
Administrative Agent and the Borrower shall make appropriate arrangements so
that new Notes are issued to the Assignee and such transferor Lender, as
appropriate.

 

(v)           No Assignment
to Borrower.  No such
assignment shall be made to the Borrower or any of the Borrower’s Affiliates or
Subsidiaries.

 

(vi)          No Assignment
to Natural Persons.  No such
assignment shall be made to a natural person.

 

Subject
to acceptance and recording thereof by the Administrative Agent pursuant to the
immediately following subsection (c), from and after the effective date
specified in each Assignment and Acceptance, the assignee thereunder shall be a
party to this Agreement and, to the extent of the interest assigned by such
Assignment and Assumption, have the rights and obligations of a Lender under
this Agreement, and the assigning Lender thereunder shall, to the extent of the
interest assigned by such Assignment and Assumption, be released from its
obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under
this Agreement, such Lender shall cease to be a party hereto) but shall
continue to be entitled to the benefits of Sections 3.10., 4.1., 4.4., 12.2. and 12.10.
and the other provisions of this Agreement and the other Loan Documents as
provided in Section 12.11.
with respect to facts and circumstances occurring prior to the effective date
of such assignment.  Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does
not comply with this paragraph shall be treated for purposes of this Agreement
as a sale by such Lender of a participation in such rights and obligations in
accordance with the immediately following subsection (d).

 

(c)           Register.  The Administrative Agent, acting solely for
this purpose as an agent of the Borrower, shall maintain at the Principal
Office a copy of each Assignment and Assumption delivered to it and a register
for the recordation of the names and addresses of the Lenders, and the Commitments
of, and principal amounts of the Loans owing to, each Lender pursuant to the
terms hereof from time to time 

 

88

 

(the
“Register”).  The entries in the Register
shall be conclusive, and the Borrower, the Administrative Agent and the Lenders
may treat each Person whose name is recorded in the Register pursuant to the
terms hereof as a Lender hereunder for all purposes of this Agreement,
notwithstanding notice to the contrary. 
The Register shall be available for inspection by the Borrower and any
Lender, at any reasonable time and from time to time upon reasonable prior
notice.

 

(d)           Participations.  Any Lender may at any time, without the
consent of, or notice to, the Borrower or the Administrative Agent, sell
participations to any Person (other than a natural person or the Borrower or
any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in
all or a portion of such Lender’s rights and/or obligations under this
Agreement (including all or a portion of its Commitment and/or the Loans owing
to it); provided that (i) such Lender’s obligations under this Agreement
shall remain unchanged, (ii) such Lender shall remain solely responsible
to the other parties hereto for the performance of such obligations and
(iii) the Borrower, the Administrative Agent and the Lenders shall
continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement.  Any agreement or instrument pursuant to which
a Lender sells such a participation shall provide that such Lender shall retain
the sole right to enforce this Agreement and to approve any amendment,
modification or waiver of any  provision
of this Agreement; provided that such agreement or instrument may provide that
such Lender will not, without the consent of the Participant, agree to any
amendment, modification or waiver of any provision of any Loan Document that
(i) increases such Lender’s Commitment, (ii) extends the date fixed
for the payment of principal on the Loans or portions thereof owing to such
Lender, or (iii) reduces the rate at which interest is payable
thereon.  Subject to the immediately
following subsection (e), the Borrower agrees that each Participant shall
be entitled to the benefits of Sections 3.10., 4.1., 4.4.  to
the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to paragraph (b) of this Section.  To the extent permitted by Applicable Law,
each Participant also shall be entitled to the benefits of Section 12.4. as though it were a Lender,
provided such Participant agrees to be subject to Section 3.3. as though it were a Lender.  Upon request from the Administrative Agent, a
Lender shall notify the Administrative Agent and the Borrower of the sale of
any participation hereunder.

 

(e)           Limitations upon Participant
Rights.  A Participant shall not be
entitled to receive any greater payment under Sections 3.10. and 4.1. than the applicable Lender would have been entitled to
receive with respect to the participation sold to such Participant, unless the
sale of the participation to such Participant is made with the Borrower’s prior
written consent.  A Participant that
would be a Foreign Lender if it were a Lender shall not be entitled to the
benefits of Section 3.10.
unless the Borrower is notified of the participation sold to such Participant
and such Participant agrees, for the benefit of the Borrower and the
Administrative Agent, to comply with Section 3.10.(c) as though it were a Lender.

 

(f)            Certain Pledges.  Any Lender may at any time pledge or assign a
security interest in all or any portion of its rights under this Agreement to
secure obligations of such Lender, including any pledge or assignment to secure
obligations to a Federal Reserve Bank; provided that no such pledge or
assignment shall release such Lender from any of its obligations hereunder or
substitute any such pledgee or assignee for such Lender as a party hereto.

 

(g)           No Registration.  Each Lender agrees that, without the prior written
consent of the Borrower and the Administrative Agent, it will not make any
assignment hereunder in any manner or under any circumstances that would
require registration or qualification of, or filings in respect of, any Loan or
Note under the Securities Act or any other securities laws of the United States
of America or of any other jurisdiction.

 

89

 

Section 12.7.  Amendments and Waivers.

 

(a)           Generally.  Except as otherwise expressly provided in
this Agreement, (i) any consent or approval required or permitted by this
Agreement or any other Loan Document to be given by the Lenders may be given, (ii) any
term of this Agreement or of any other Loan Document may be amended, (iii) the
performance or observance by the Borrower, any other Loan Party or any other
Subsidiary of any terms of this Agreement or such other Loan Document may be
waived, and (iv) the continuance of any Default or Event of Default may be
waived (either generally or in a particular instance and either retroactively
or prospectively) with, but only with, the written consent of the Requisite
Lenders (or the Administrative Agent at the written direction of the Requisite
Lenders), and, in the case of an amendment to any Loan Document, the written
consent of each Loan Party which is party thereto.

 

(b)           Certain Lender Consents.  Notwithstanding the foregoing, no amendment,
waiver or consent shall, unless in writing, and signed by Lenders having at
least 66 2/3% of the aggregate amount of the Commitments of all Lenders, or if
the Commitments have been terminated or reduced to zero, Lenders holding at
least 66 2/3% of the principal amount of the aggregate outstanding Loans and
Letter of Credit Liabilities, do any of the following:

 

(i)            amend any of
the financial covenants set forth in Section 9.1. or any of the
definitions related thereto, waive the performance or observance of any of the
financial covenants set forth in Section 9.1. or waive any Default or
Event of Default resulting from a breach of any of the financial covenants set
forth in Section 10.1.; or

 

(ii)           amend
Section 10.1.(l) or waive any Default or Event of Default occurring
under such Section.

 

(c)           Consent of Lenders Directly
Affected.  In addition
to the foregoing requirements, no amendment, waiver or consent shall, unless in
writing, and signed by each of the Lenders directly and adversely affected
thereby (or the Administrative Agent at the written direction of such Lenders),
do any of the following:

 

(i)            increase the
Commitments of the Lenders (excluding any increase as a result of an assignment
of Commitments permitted under Section 12.6. and any increases
contemplated under Section 2.15.)  or
subject the Lenders to any additional obligations;

 

(ii)           reduce the
principal of, or interest that has accrued or the rates of interest that will
be charged on the outstanding principal amount of, any Loans or other
Obligations;

 

(iii)          reduce the
amount of any Fees payable to the Lenders hereunder;

 

(iv)          modify the
definition of “Termination Date” (except in accordance with
Section 2.12.), or otherwise postpone any date fixed for any payment of
principal of, or interest on, any Loans or for the payment of Fees or any other
Obligations, or extend the expiration date of any Letter of Credit beyond the
Termination Date (except as permitted under Section 2.2.(b)) or, with
respect to any Letter of Credit having an expiration date beyond the
Termination Date as permitted by Section 2.2.(b), extend the expiration
date of such Letter of Credit;

 

(v)           modify the
definition of “Commitment Percentage” or amend or otherwise modify the
provisions of Section 3.2.;

 

90

 

(vi)          amend this Section or
amend any of the other definitions of the terms used in this Agreement or the
other Loan Documents insofar as such definitions affect the substance of this
Section;

 

(vii)         modify the
definition of the term “Requisite Lenders” or modify in any other manner the
number or percentage of the Lenders required to make any determinations or
waive any rights hereunder or to modify any provision hereof;

 

(viii)        release any
Guarantor from its obligations under the Guaranty  except as
contemplated by Section 7.13.(b);

 

(ix)           waive a Default
or Event of Default under Section 10.1.(a); or

 

(x)            amend, or waive
the Borrower’s compliance with, Section 2.14.

 

(d)           Amendment of Administrative
Agent’s Duties, Etc.  No
amendment, waiver or consent unless in writing and signed by the Administrative
Agent, in addition to the Lenders required hereinabove to take such action,
shall affect the rights or duties of the Administrative Agent under this
Agreement or any of the other Loan Documents. 
Any amendment, waiver or consent relating to Section 2.3. or the
obligations of the Swingline Lender under this Agreement or any other Loan
Document shall, in addition to the Lenders required hereinabove to take such
action, require the written consent of the Swingline Lender.  Any amendment, waiver or consent relating to
Section 2.2. or the obligations of the Issuing Bank under this Agreement
or any other Loan Document shall, in addition to the Lenders required
hereinabove to take such action, require the written consent of the Issuing
Bank.  Any amendment, waiver or consent
with respect to any Loan Document that (i) diminishes the rights of a
Specified Derivatives Provider in a manner or to an extent dissimilar to that
affecting the Lenders or (ii) increases the liabilities or obligations of
a Specified Derivatives Provider shall, in addition to the Lenders required hereinabove
to take such action, require the consent of the Lender that is (or having an
Affiliate that is) such Specified Derivatives Provider.  No waiver shall extend to or affect any
obligation not expressly waived or impair any right consequent thereon and any
amendment, waiver or consent shall be effective only in the specific instance
and for the specific purpose set forth therein. 
No course of dealing or delay or omission on the part of the
Administrative Agent or any Lender in exercising any right shall operate as a
waiver thereof or otherwise be prejudicial thereto.  Any Event
of Default occurring hereunder shall continue to exist until such time as such
Event of Default is waived in writing in accordance with the terms of this
Section, notwithstanding any attempted cure or other action by the Borrower,
any other Loan Party or any other Person subsequent to the occurrence of such
Event of Default.  Except as
otherwise explicitly provided for herein or in any other Loan Document, no
notice to or demand upon the Borrower shall entitle the Borrower to other or
further notice or demand in similar or other circumstances.

 

Section 12.8.  Nonliability of Administrative Agent and
Lenders.

 

The
relationship between the Borrower, on the one hand, and the Lenders and the
Administrative Agent, on the other hand, shall be solely that of borrower and
lender.  Neither the Administrative Agent
nor any Lender shall have any fiduciary responsibilities to the Borrower and no
provision in this Agreement or in any of the other Loan Documents, and no
course of dealing between or among any of the parties hereto, shall be deemed
to create any fiduciary duty owing by the Administrative Agent or any Lender to
any Lender, the Borrower, any Subsidiary or any other Loan Party.  Neither the Administrative Agent nor any
Lender undertakes any responsibility to the Borrower to review or inform the
Borrower of any matter in connection with any phase of the Borrower’s business
or operations.

 

91

 

Section 12.9.  Confidentiality.

 

Except
as otherwise provided by Applicable Law, each of the Administrative Agent, the
Issuing Bank and the Lenders shall maintain the confidentiality of all
Information (as defined below) in accordance with its customary procedure for
handling confidential information of this nature and in accordance with safe
and sound banking practices but in any event may make disclosure: (a) to
its Affiliates and to its and its Affiliates’ respective partners, directors,
officers, employees, agents, advisors and other representatives (it being
understood that the Persons to whom such disclosure is made will be informed of
the confidential nature of such Information and instructed to keep such
Information confidential); (b) subject to an agreement containing
provisions substantially the same as those of this Section, to (i) any
actual or proposed Assignee, Participant or other transferee in connection with
a potential transfer of any Commitment or participation therein as permitted hereunder,
or (ii) any actual or prospective counterparty (or its advisors) to any
swap or derivative transaction relating to the Borrower and its obligations;
(c) as required or requested by any Governmental Authority or
representative thereof or pursuant to legal process or in connection with any
legal proceedings, or as otherwise required by Applicable Law; (d) to the
Administrative Agent’s, Issuing Bank’s or such Lender’s independent
auditors and other professional advisors (provided they shall be notified of the
confidential nature of the information); (e) in connection with the
exercise of any remedies under any Loan Document (or any Specified Derivatives
Contract) or any action or proceeding relating to any Loan Document (or any
such Specified Derivatives Contract) or the enforcement of rights hereunder or
thereunder; (f) to the extent such Information (i) becomes publicly
available other than as a result of a breach of this Section actually
known by the Administrative Agent or such Lender to be a breach of this Section or
(ii) becomes available to the Administrative Agent, any Lender or any
Affiliate of the Administrative Agent or any Lender on a nonconfidential basis
from a source other than the Borrower or any Affiliate of the Borrower;
(g) to the extent requested by, or required to be disclosed to, any
nationally recognized rating agency or regulatory or similar authority
(including any self-regulatory authority, such as the National Association of
Insurance Commissioners) having or purporting to have jurisdiction over it;
(h) to bank trade publications, such information to consist of deal terms
and other information customarily found in such publications; (i) to any
other party hereto; and (j) with the consent of the Borrower.
Notwithstanding the foregoing, the Administrative Agent and each Lender may
disclose any such confidential information, without notice to the Borrower or
any other Loan Party, to Governmental Authorities in connection with any
regulatory examination of the Administrative Agent or such Lender or in
accordance with the regulatory compliance policy of the Administrative Agent or
such Lender.  As used in this Section,
the term “Information” means all information received from the Borrower, any
other Loan Party, any other Subsidiary or Affiliate relating to any Loan Party
or any of their respective businesses, other than any such information that is
available to the Administrative Agent, any Lender or the Issuing Bank on a
nonconfidential basis prior to disclosure by the Borrower, any other Loan
Party, any other Subsidiary or any Affiliate, provided that, in the case of any
such information received from the Borrower, any other Loan Party, any other
Subsidiary or any Affiliate after the date hereof, such information is clearly
identified at the time of delivery as confidential.  Any Person required to maintain the
confidentiality of Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such
Information as such Person would accord to its own confidential information.

 

Section 12.10.  Indemnification.

 

(a)           The Borrower shall and hereby agrees
to indemnify, defend and hold harmless the Administrative Agent, the Issuing
Bank, the Lenders, all of the Affiliates of each of the Administrative Agent,
the Issuing Bank or any of the Lenders, and their respective directors,
officers, shareholders, agents, employees and counsel (each referred to herein
as an “Indemnified Party”) from and against any and all of the following
(collectively, the “Indemnified Costs”): 
losses, costs, claims, penalties, damages, 

 

92

 

liabilities,
deficiencies, judgments or expenses of every kind and nature (including,
without limitation, amounts paid in settlement, court costs and the fees and
disbursements of counsel incurred in connection with any litigation,
investigation, claim or proceeding or any advice rendered in connection
therewith, but excluding Indemnified Costs indemnification in respect of which
is specifically covered by Section 3.10. or 4.1. or expressly excluded
from the coverage of such Sections) incurred by an Indemnified Party in
connection with, arising out of, or by reason of, any suit, cause of action,
claim, arbitration, investigation or settlement, consent decree or other
proceeding (the foregoing referred to herein as an “Indemnity Proceeding”)
which is in any way related directly or indirectly to: (i) this Agreement
or any other Loan Document or the transactions contemplated thereby;
(ii) the making of any Loans or issuance of Letters of Credit hereunder;
(iii) any actual or proposed use by the Borrower of the proceeds of the
Loans or Letters of Credit; (iv) the Administrative Agent’s, the Issuing
Bank’s or any Lender’s entering into this Agreement; (v) the fact that the
Administrative Agent, the Issuing Bank and the Lenders have established the
credit facility evidenced hereby in favor of the Borrower; (vi) the fact
that the Administrative Agent, the Issuing Bank and the Lenders are creditors
of the Borrower and have or are alleged to have information regarding the
financial condition, strategic plans or business operations of the Borrower and
the Subsidiaries; (vii) the fact that the Administrative Agent, the
Issuing Bank and the Lenders are material creditors of the Borrower and are
alleged to influence directly or indirectly the business decisions or affairs
of the Borrower and the Subsidiaries or their financial condition;
(viii) the exercise of any right or remedy the Administrative Agent, the
Issuing Bank or the Lenders may have under this Agreement or the other Loan
Documents provided, however, that the Borrower shall not be obligated to
indemnify any Indemnified Party for any acts or omissions of such Indemnified
Party in connection with matters described in this clause (viii) to
the extent arising from the gross negligence or willful misconduct of such
Indemnified Party, as determined by a court of competent jurisdiction in a
final, non-appealable judgment; (ix) any civil penalty or fine assessed by
the OFAC against, and all costs and expenses (including counsel fees and
disbursements) incurred in connection with defense thereof by, the
Administrative Agent, the Issuing Bank or any Lender as a result of conduct of
the Borrower, any other Loan Party or any other Subsidiary that violates a
sanction administered or enforced by the OFAC; or (x) any violation or
non-compliance by the Borrower or any Subsidiary of any Applicable Law
(including any Environmental Law) including, but not limited to, any Indemnity
Proceeding commenced by (A) the Internal Revenue Service or state taxing
authority or (B) any Governmental Authority or other Person under any
Environmental Law, including any Indemnity Proceeding commenced by a
Governmental Authority or other Person seeking remedial or other action to
cause the Borrower or its Subsidiaries (or its respective properties) (or the
Administrative Agent and/or the Lenders and/or the Issuing Bank as successors
to the Borrower) to be in compliance with such Environmental Laws.

 

(b)           The Borrower’s indemnification
obligations under this Section shall apply to all Indemnity Proceedings
arising out of, or related to, the foregoing whether or not an Indemnified
Party is a named party in such Indemnity Proceeding.  In this connection, this indemnification
shall cover all Indemnified Costs of any Indemnified Party in connection with
any deposition of any Indemnified Party or compliance with any subpoena
(including any subpoena requesting the production of documents).  This indemnification shall, among other
things, apply to any Indemnity Proceeding commenced by other creditors of the
Borrower or any Subsidiary, any shareholder of the Borrower or any Subsidiary
(whether such shareholder(s) are prosecuting such Indemnity Proceeding in
their individual capacity or derivatively on behalf of the Borrower), any
account debtor of the Borrower or any Subsidiary or by any Governmental
Authority.

 

(c)           This indemnification shall apply to
any Indemnity Proceeding arising during the pendency of any bankruptcy
proceeding filed by or against the Borrower and/or any Subsidiary.

 

(d)           All out-of-pocket fees and expenses
of, and all amounts paid to third-persons by, an Indemnified Party shall be
advanced by the Borrower at the request of such Indemnified Party 

 

93

 

notwithstanding
any claim or assertion by the Borrower that such Indemnified Party is not
entitled to indemnification hereunder upon receipt of an undertaking by such
Indemnified Party that such Indemnified Party will reimburse the Borrower if it
is actually and finally determined by a court of competent jurisdiction that
such Indemnified Party is not so entitled to indemnification hereunder.

 

(e)           An Indemnified Party may conduct its
own investigation and defense of, and may formulate its own strategy with
respect to, any Indemnity Proceeding covered by this Section and, as
provided above, all Indemnified Costs incurred by such Indemnified Party shall
be reimbursed by the Borrower.  No action
taken by legal counsel chosen by an Indemnified Party in investigating or
defending against any such Indemnity Proceeding shall vitiate or in any way
impair the obligations and duties of the Borrower hereunder to indemnify and
hold harmless each such Indemnified Party; provided, however, that if
(i) the Borrower is required to indemnify an Indemnified Party pursuant
hereto and (ii) the Borrower has provided evidence reasonably satisfactory
to such Indemnified Party that the Borrower has the financial wherewithal to
reimburse such Indemnified Party for any amount paid by such Indemnified Party
with respect to such Indemnity Proceeding, such Indemnified Party shall not
settle or compromise any such Indemnity Proceeding without the prior written
consent of the Borrower (which consent shall not be unreasonably withheld or
delayed).  Notwithstanding the foregoing,
an Indemnified Party may settle or compromise any such Indemnity Proceeding
without the prior written consent of the Borrower where (x) no monetary
relief is sought against such Indemnified Party in such Indemnity Proceeding or
(y) there is an allegation of a violation of law by such Indemnified
Party.

 

(f)            If and to the extent that the
obligations of the Borrower under this Section 12.10. are unenforceable
for any reason, the Borrower hereby agrees to make the maximum contribution to
the payment and satisfaction of such obligations which is permissible under
Applicable Law.

 

(g)           The Borrower’s obligations under this
Section 12.10. shall survive any termination of this Agreement and the
other Loan Documents and the payment in full in cash of the Obligations, and
are in addition to, and not in substitution of, any of the other obligations
set forth in this Agreement or any other Loan Document to which it is a party.

 

References
in this Section 12.10. to “Lender” or “Lenders” shall be deemed to include
such Persons (and their Affiliates) in their capacity as Specified Derivatives
Providers.

 

Section 12.11.  Termination; Survival.

 

This
Agreement shall terminate at such time as (a) all of the Commitments have
been terminated, (b) all Letters of Credit have terminated or expired or
been cancelled (other than Letters of Credit the expiration dates of which
extend beyond the Termination Date as permitted under Section 2.2.(b) and
in respect of which the Borrower has satisfied the requirements of such
Section), (c) none of the Lenders is obligated any longer under this
Agreement to make any Loans and the Issuing Bank is no longer obligated under
this Agreement to issue Letters of Credit and (d) all Obligations (other
than obligations which survive as provided in the following sentence) have been
paid and satisfied in full; provided, however, if on the Termination Date or
any other date the Commitments are terminated or reduced to zero (whether
voluntarily, by reason of the occurrence of an Event of Default or otherwise)
any Letters of Credit remain outstanding, then the provisions of this Agreement
applicable to Letters of Credit, including without limitation, the terms of Section 2.13 and the
Borrower’s reimbursement obligations under Section 2.2.(d), shall remain in effect until all such
Letters of Credit have expired, have been cancelled or have otherwise
terminated.  The indemnities to
which the Administrative Agent, the Issuing Bank and the Lenders are entitled
under the provisions of Sections 3.10., 4.1., 4.4., 11.6., 12.2. and
12.10. and any other provision of this Agreement and the other Loan Documents,
and the provisions of Sections 12.5. and 12.13, shall continue in full
force and effect and shall protect the Administrative 

 

94

 

Agent,
the Issuing Bank and the Lenders (i) notwithstanding any termination of
this Agreement, or of the other Loan Documents, against events arising after
such termination as well as before and (ii) at all times after any such
party ceases to be a party to this Agreement with respect to all matters and events
existing on or prior to the date such party ceased to be a party to this
Agreement.

 

Section 12.12.  Severability of Provisions.

 

If
any provision under this Agreement or the other Loan Documents shall be
determined by a court of competent jurisdiction to be invalid or unenforceable,
that provision shall be deemed severed from the Loan Documents, and the
validity, legality and enforceability of the remaining provisions shall remain
in full force as thought the invalid, illegal, or unenforceable provision had
never been part of the Loan Documents.

 

Section 12.13.  GOVERNING LAW.

 

THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY
PERFORMED, IN SUCH STATE.

 

Section 12.14.  Counterparts.

 

To
facilitate execution, this Agreement and any amendments, waivers, consents or
supplements may be executed in any number of counterparts as may be convenient
or required.  It shall not be necessary
that the signature of, or on behalf of, each party, or that the signature of
all persons required to bind any party, appear on each counterpart.  All counterparts shall collectively
constitute a single document.  It shall
not be necessary in making proof of this document to produce or account for
more than a single counterpart containing the respective signatures of, or on
behalf of, each of the parties hereto.

 

Section 12.15.  Obligations with Respect to Loan Parties.

 

The
obligations of the Borrower to direct or prohibit the taking of certain actions
by the other Loan Parties as specified herein shall be absolute and not subject
to any defense the Borrower may have that the Borrower does not control such
Loan Parties.

 

Section 12.16.  Independence of Covenants.

 

All
covenants hereunder shall be given in any jurisdiction independent effect so
that if a particular action or condition is not permitted by any of such
covenants, the fact that it would be permitted by an exception to, or be
otherwise within the limitations of, another covenant shall not avoid the
occurrence of a Default or an Event of Default if such action is taken or
condition exists.

 

Section 12.17.  Limitation of Liability.

 

None
of the Administrative Agent, the Issuing Bank or any Lender, or any affiliate,
officer, director, employee, attorney, or agent of the Administrative Agent,
the Issuing Bank or any Lender shall have any liability with respect to, and
the Borrower hereby waives, releases, and agrees not to sue any of them upon,
any claim for any special, indirect, incidental, or consequential damages
suffered or incurred by the Borrower in connection with, arising out of, or in
any way related to, this Agreement, any of the other Loan Documents or the Fee
Letter, or any of the transactions contemplated by this Agreement or any of the
other Loan Documents.  The Borrower
hereby waives, releases, and agrees not to sue the 

 

95

 

Administrative
Agent, the Issuing Bank or any Lender or any of the Administrative Agent’s, the
Issuing Bank’s or any Lender’s affiliates, officers, directors, employees,
attorneys, or agents for punitive damages in respect of any claim in connection
with, arising out of, or in any way related to, this Agreement, any of the
other Loan Documents, the Fee Letter, or any of the transactions contemplated
by this Agreement or financed hereby.

 

Section 12.18.  Entire Agreement.

 

This
Agreement, the Notes, the other Loan Documents and the Fee Letter embody the
final, entire agreement among the parties hereto and supersede any and all
prior commitments, agreements, representations, and understandings, whether
written or oral, relating to the subject matter hereof and thereof and may not
be contradicted or varied by evidence of prior, contemporaneous, or subsequent
oral agreements or discussions of the parties hereto.  There are no oral agreements among the
parties hereto.

 

Section 12.19.  Construction.

 

The
Administrative Agent, the Issuing Bank, the Borrower and each Lender
acknowledge that each of them has had the benefit of legal counsel of its own
choice and has been afforded an opportunity to review this Agreement and the
other Loan Documents with its legal counsel and that this Agreement and the
other Loan Documents shall be construed as if jointly drafted by the
Administrative Agent, the Issuing Bank, the Borrower and each Lender.

 

Section 12.20.  Headings.

 

The
paragraph and section headings in this Agreement are provided for convenience
of reference only and shall not affect its construction or interpretation.

 

Section 12.21.  LIABILITY OF TRUSTEES, ETC.

 

THE
PARTIES HERETO ACKNOWLEDGE AND AGREE AS FOLLOWS:

 

THE
AMENDED AND RESTATED DECLARATION OF TRUST ESTABLISHING COMMONWEALTH REIT, DATED
JULY 1, 1994, AS AMENDED AND SUPPLEMENTED, AS FILED WITH THE STATE DEPARTMENT
OF ASSESSMENTS AND TAXATION OF MARYLAND, PROVIDES THAT NO TRUSTEE, OFFICER,
SHAREHOLDER, EMPLOYEE OR AGENT OF COMMONWEALTH REIT SHALL BE HELD TO ANY
PERSONAL LIABILITY, JOINTLY OR SEVERALLY, FOR ANY OBLIGATION OF, OR CLAIM
AGAINST, COMMONWEALTH REIT.  ALL PERSONS
DEALING WITH COMMONWEALTH REIT IN ANY WAY, SHALL LOOK ONLY TO THE ASSETS OF
COMMONWEALTH REIT FOR THE PAYMENT OF ANY SUM OR THE PERFORMANCE OF ANY
OBLIGATION.

 

[Signatures on Following Pages]

 

96

 

IN
WITNESS WHEREOF, the parties hereto have caused this Credit Agreement to be
executed by their authorized officers all as of the day and year first above
written.

 

	
   

  	
  COMMONWEALTH
  REIT

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  John C. Popeo

  
	
   

  	
   

  	
  Name:

  	
  John
  C. Popeo

  
	
   

  	
   

  	
  Title:

  	
  Treasurer
  and Chief Financial Officer

  

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  WELLS FARGO BANK, NATIONAL
  ASSOCIATION, as Administrative Agent and as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Frederick G. Bright

  
	
   

  	
   

  	
  Name:

  	
  Frederick
  G. Bright

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  BANK
  OF AMERICA, N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Michael W. Edwards

  
	
   

  	
   

  	
  Name:

  	
  Michael
  W. Edwards

  
	
   

  	
   

  	
  Title:

  	
  Senior
  Vice President

  

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  ROYAL
  BANK OF CANADA, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  G. David Cole

  
	
   

  	
   

  	
  Name:

  	
  G.
  David Cole

  
	
   

  	
   

  	
  Title:

  	
  Authorized
  Signatory

  

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  REGIONS
  BANK, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Thomas K. Day

  
	
   

  	
   

  	
  Name:

  	
  Thomas
  K. Day

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  SUMITOMO MITSUI BANKING CORPORATION, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Natsuhiro Samejima

  
	
   

  	
   

  	
  Name:

  	
  Natsuhiro
  Samejima

  
	
   

  	
   

  	
  Title:

  	
  Senior
  Vice President

  

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  U.S.
  BANK NATIONAL ASSOCIATION, as a Lender

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  David Heller

  
	
   

  	
   

  	
  Name:

  	
  David
  Heller

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  MIZUHO
  CORPORATE BANK, LTD., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Yasuo Imaizumi

  
	
   

  	
   

  	
  Name:

  	
  Yasuo
  Imaizumi

  
	
   

  	
   

  	
  Title:

  	
  Deputy
  General Manager

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  PNC
  BANK, NATIONAL ASSOCIATION, as a Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Andrew D. Coler

  
	
   

  	
   

  	
  Name:

  	
  Andrew
  D. Coler

  
	
   

  	
   

  	
  Title:

  	
  Senior
  Vice President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  TD
  BANK, N.A., as a Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Paula Mello

  
	
   

  	
   

  	
  Name:

  	
  Paula
  Mello

  
	
   

  	
   

  	
  Title:

  	
  Senior
  Vice President

  
					

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  BANK
  HAPOALIM BM, as a Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  James P. Surless

  	
  /s/
  Charles McLaughlin

  
	
   

  	
   

  	
  Name:

  	
  James
  P. Surless

  	
  Charles
  McLaughlin

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  	
  Senior
  Vice President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  BRANCH
  BANKING AND TRUST COMPANY, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Ahaz A. Armstrong

  
	
   

  	
   

  	
  Name:

  	
  Ahaz
  A. Armstrong

  
	
   

  	
   

  	
  Title:

  	
  Assistant
  Vice President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with CommonWealth
REIT]

 

 

	
   

  	
  THE
  BANK OF NEW YORK MELLON, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Carol Murray

  
	
   

  	
   

  	
  Name:

  	
  Carol
  Murray

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  CHEVY CHASE BANK, a division of Capital One, N.A.,
  as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Frederick H. Denecke

  
	
   

  	
   

  	
  Name:

  	
  Frederick
  H. Denecke

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  COMPASS
  BANK, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Keely W. McGee

  
	
   

  	
   

  	
  Name:

  	
  Keely
  W. McGee

  
	
   

  	
   

  	
  Title:

  	
  Senior
  Vice President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  COMERICA
  BANK, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Casey L. Stevenson

  
	
   

  	
   

  	
  Name:

  	
  Casey
  L. Stevenson

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  MALAYAN
  BANKING BERHAD, NEW YORK BRANCH, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Fauzi Zulkifli

  
	
   

  	
   

  	
  Name:

  	
  Fauzi
  Zulkifli

  
	
   

  	
   

  	
  Title:

  	
  General
  Manager

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  SOVEREIGN
  BANK, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  John Everly

  
	
   

  	
   

  	
  Name:

  	
  John
  Everly

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  THE
  BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  James T. Taylor

  
	
   

  	
   

  	
  Name:

  	
  James
  T. Taylor

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  UNION
  BANK, N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Bob Ryan

  
	
   

  	
   

  	
  Name:

  	
  Bob
  Ryan

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  BANK
  OF NOVA SCOTIA, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  George Sherman

  
	
   

  	
   

  	
  Name:

  	
  George
  Sherman

  
	
   

  	
   

  	
  Title:

  	
  Director

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  SCOTIABANC
  INC., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  J.F. Todd

  
	
   

  	
   

  	
  Name:

  	
  J.F.
  Todd

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  FIRST
  HAWAIIAN BANK, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Dawn Hofmann

  
	
   

  	
   

  	
  Name:

  	
  Dawn
  Hofmann

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  CHANG HWA COMMERCIAL BANK, LTD., NEW YORK BRANCH,
  as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Eric Y.S. Tsai

  
	
   

  	
   

  	
  Name:

  	
  Eric
  Y.S. Tsai

  
	
   

  	
   

  	
  Title:

  	
  VP
  & General Manager

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  CITIBANK,
  N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Michael Chlopak

  
	
   

  	
   

  	
  Name:

  	
  Michael
  Chlopak

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  RBS
  CITIZENS, N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Stephen Smith

  
	
   

  	
   

  	
  Name:

  	
  Stephen
  Smith

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  JEFFERIES
  FINANCE LLC, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  E. Joseph Hess

  
	
   

  	
   

  	
  Name:

  	
  E.
  Joseph Hess

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  MORGAN
  STANLEY BANK, N.A., as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Ryan Vetsch

  
	
   

  	
   

  	
  Name:

  	
  Ryan
  Vetsch

  
	
   

  	
   

  	
  Title:

  	
  Authorized
  Signatory

  

 

 

[Signatures Continued on Next Page]

 

 

[Signature Page to Credit Agreement with
CommonWealth REIT]

 

 

	
   

  	
  UBS
  LOAN FINANCE LLC, as a Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Irja R. Otsa

  
	
   

  	
   

  	
  Name:

  	
  Irja
  R. Otsa

  
	
   

  	
   

  	
  Title:

  	
  Associate
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Mary E. Evans

  
	
   

  	
   

  	
  Name:

  	
  Mary
  E. Evans

  
	
   

  	
   

  	
  Title:

  	
  Associate
  Director

  

 

 

SCHEDULE I

 

Commitments

 

	
  Lender

  	
   

  	
  Commitment Amount

  	
   

  
	
  Wells Fargo Bank, National Association 

  	
   

  	
  $

  	
  75,000,000

  	
   

  
	
  Bank of America, N.A.

  	
   

  	
  $

  	
  50,000,000

  	
   

  
	
  Royal Bank of Canada

  	
   

  	
  $

  	
  40,000,000

  	
   

  
	
  Regions Bank

  	
   

  	
  $

  	
  40,000,000

  	
   

  
	
  Sumitomo Mitsui Banking Corporation

  	
   

  	
  $

  	
  40,000,000

  	
   

  
	
  US Bank National Association

  	
   

  	
  $

  	
  40,000,000

  	
   

  
	
  Mizuho Corporate Bank, Ltd.

  	
   

  	
  $

  	
  35,000,000

  	
   

  
	
  PNC Bank, National Assocation

  	
   

  	
  $

  	
  35,000,000

  	
   

  
	
  TD Bank, N.A.

  	
   

  	
  $

  	
  35,000,000

  	
   

  
	
  Bank Hapoalim BM

  	
   

  	
  $

  	
  30,000,000

  	
   

  
	
  Branch Banking and Trust Company

  	
   

  	
  $

  	
  30,000,000

  	
   

  
	
  Chevy Chase Bank, a division of Capital One, N.A.

  	
   

  	
  $

  	
  30,000,000

  	
   

  
	
  The Bank of New York Mellon

  	
   

  	
  $

  	
  30,000,000

  	
   

  
	
  Compass Bank

  	
   

  	
  $

  	
  25,000,000

  	
   

  
	
  Comercia Bank

  	
   

  	
  $

  	
  25,000,000

  	
   

  
	
  Malayan Banking Berhad, New York Branch

  	
   

  	
  $

  	
  25,000,000

  	
   

  
	
  Sovereign Bank

  	
   

  	
  $

  	
  25,000,000

  	
   

  
	
  The Bank of Tokyo-Mitsubishi UFJ, Ltd.

  	
   

  	
  $

  	
  25,000,000

  	
   

  
	
  Union Bank, N.A.

  	
   

  	
  $

  	
  25,000,000

  	
   

  
	
  Bank of Nova Scotia

  	
   

  	
  $

  	
  17,500,000

  	
   

  
	
  Scotiabanc Inc.

  	
   

  	
  $

  	
  17,500,000

  	
   

  
	
  First Hawaiian Bank

  	
   

  	
  $

  	
  15,000,000

  	
   

  
	
  Chang Hwa Commercial Bank, Ltd. New York Branch

  	
   

  	
  $

  	
  10,000,000

  	
   

  
	
  RBS Citizens, N.A.

  	
   

  	
  $

  	
  10,000,000

  	
   

  
	
  Citibank, N.A.

  	
   

  	
  $

  	
  5,000,000

  	
   

  
	
  Jefferies Finance LLC

  	
   

  	
  $

  	
  5,000,000

  	
   

  
	
  Morgan Stanley Bank, N.A. 

  	
   

  	
  $

  	
  5,000,000

  	
   

  
	
  UBS Loan Finance LLC

  	
   

  	
  $

  	
  5,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  TOTAL

  	
   

  	
  $

  	
  750,000,000

  	
   

  

 

 

SCHEDULE 1.1(a)

 

Existing Letter of Credit

 

Irrevocable
Standby Letter of Credit Number SM233107W in the Stated Amount of $250,000 for
the account of HUB Highridge LLC for the benefit of Wachovia Bank, National
Association, as Master Servicer on behalf of LaSalle Bank, NA, as Trustee for
the benefit of the Certificate Holders of, its successors commercial mortgage
pass-through certificates series Wachovia Bank 2004-C12.

 

 

SCHEDULE 1.1(b)

 

List of Loan Parties

 

ASA
Properties Trust

Blue
Dog Bookspan Properties LLC

Blue
Dog LLC

Blue
Dog Properties Trust

Candler
Associates, L.L.C.

Candler
Property Trust

First
Associates LLC

Hawaii
2x5 O Properties Trust

Higgins
Properties LLC

HRP
Nom 2 L.P.

HRP
Nom L.P.

HRPT
Lenexa Properties Trust

HRPT
Medical Buildings Realty Trust

Hub
Acquisition Trust

Hub
BD Mixed Sec. Properties, L.P.

Hub
Hoboken Properties LLC

Hub
LA Properties Trust

Hub MA Realty Trust

Hub Madrone Properties LLC

Hub
Mid-West LLC

Hub
Properties GA LLC

Hub
Properties Trust

Hub
Realty College Park I, LLC

Hub
Realty Funding, Inc.

Indemnity
Collection Corporation

LTMAC
Properties LLC

Masters
Properties LLC

MOB Realty Trust

Orville
Properties LLC

Oscar
Properties Trust

Putnam Place Realty Trust

RFRI
Properties LLC

Ridge
Lake Properties LLC

Robin
1 Properties LLC

Tanaka
Properties LLC

TedCal
Properties LLC

TSM
Properties LLC

Z&A Properties LLC

 

 

SCHEDULE 6.1(b)

 

Ownership Structure

 

Part I
(Subsidiaries)

 

	
  Entity and Jurisdiction

  of Organization

  	
   

  	
  Ownership Structure

  	
   

  	
  Material

  Subsidiary

  	
   

  	
  Excluded

  Subsidiary

  	
   

  	
  To Be Dissolved 

  or Merged Out 

  of Existence 

  Post Closing 

  Date

  
	
  1600
  Market Street Property Trust (Maryland)

  	
   

  	
  SP
  Holding Property Trust owns 1,000 shares of beneficial interest, $.01 par
  value, representing 100% ownership.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
  X

  
	
  1735
  Market Street Properties Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 100 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  4 Maguire Road Realty Trust (Nominee Trust –
  Massachusetts)

  	
   

  	
  Hub Properties Trust is the 100% beneficiary.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  47 Harvard Street Real Estate Trust (Nominee Trust –
  Massachusetts)

  	
   

  	
  Hub Properties Trust is the 100% beneficiary.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  ALPHA BT LLC (Maryland)

  	
   

  	
  Hawaii Soupson LLC – 100% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ASA
  Properties Trust

  	
   

  	
  CommonWealth
  REIT owns 1,000 shares of beneficial interest, $.01 par value, representing
  100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  BD 33 Stiles Lane Property LLC (Maryland)

  	
   

  	
  Blue Dog Properties Trust – 100% membership interest.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
   

  
	
  Blue Dog Bookspan Properties LLC (Delaware)

  	
   

  	
  Blue Dog Properties Trust – 100% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Blue Dog LLC (Maryland)

  	
   

  	
  Blue Dog Properties Trust – 100% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Blue
  Dog Properties Trust (Maryland)

  	
   

  	
  CommonWealth
  REIT owns 1,000 shares of beneficial interest, $.01 par value, representing
  100% ownership.

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
   

  
	
  Bridgepoint
  Property Trust (Maryland)

  	
   

  	
  SP
  Holding Property Trust owns 1,000 shares of beneficial interest, $.01 par
  value, representing 100% ownership.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
  X

  

 

 

	
  Entity and Jurisdiction

  of Organization

  	
   

  	
  Ownership Structure

  	
   

  	
  Material

  Subsidiary

  	
   

  	
  Excluded

  Subsidiary

  	
   

  	
  To Be Dissolved 

  or Merged Out 

  of Existence 

  Post Closing 

  Date

  
	
  Candler
  Associates, L.L.C. (Maryland)

  	
   

  	
  Candler
  Property Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Candler
  Property Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 1,000 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Causeway
  Holdings, Inc. (Massachusetts)

  	
   

  	
  CommonWealth
  REIT owns 100 shares of common stock, $.01 par value, representing 100%
  ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Cedars
  LA LLC (Delaware)

  	
   

  	
  Hub
  LA Limited Partnership – 100% membership interest

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
   

  
	
  First
  Associates LLC (Maryland)

  	
   

  	
  Hub
  Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fourth
  and Roma Properties Trust (Maryland)

  	
   

  	
  CommonWealth
  REIT owns 1,000 shares of beneficial interest, $.01 par value, representing
  100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Franklin
  Plaza Property Trust (Maryland)

  	
   

  	
  SP
  Holding Property Trust owns 1,000 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
  X

  
	
  Hawaii
  2x5 O Properties Trust (Maryland)

  	
   

  	
  CommonWealth
  REIT owns 1,000 shares of beneficial interest, $.01 par value, representing
  100% ownership.

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
   

  
	
  Hawaii
  Metamorphosis LLC (Maryland)

  	
   

  	
  Hawaii
  Soupson LLC – 100% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hawaii
  MMGD LLC (Maryland)

  	
   

  	
  Hawaii
  Soupson LLC – 100% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hawaii
  Phoenix Properties LLC (Maryland)

  	
   

  	
  Hawaii
  Soupson LLC – 100% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hawaii
  Soupson LLC (Maryland)

  	
   

  	
  CommonWealth
  REIT – 100% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Health
  and Retirement Properties International, Inc. (Delaware)

  	
   

  	
  CommonWealth
  REIT owns 100 shares of common stock, $.01 par value, representing 100%
  ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Herald
  Square LLC (Delaware)

  	
   

  	
  SP
  Holding Property Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
  X

  
	
  HH
  HUB Properties LLC (Delaware)

  	
   

  	
  Hub
  Properties Trust – 99% membership interest

  HRPT Memphis LLC – 1% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Higgins
  Properties LLC (Maryland)

  	
   

  	
  Hawaii
  2x5 O Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

	
  Entity and Jurisdiction

  of Organization

  	
   

  	
  Ownership Structure

  	
   

  	
  Material

  Subsidiary

  	
   

  	
  Excluded

  Subsidiary

  	
   

  	
  To Be Dissolved 

  or Merged Out 

  of Existence 

  Post Closing 

  Date

  
	
  HRP
  GP, LLC (Delaware)

  	
   

  	
  CommonWealth
  REIT – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  HRP
  Nom 2 Inc. (Delaware)

  	
   

  	
  CommonWealth
  REIT owns 1,000 shares of common stock, $.01 par value, representing 100%
  ownership

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  HRP
  Nom 2 L.L.C. (Delaware)

  	
   

  	
  Hub
  BD Mixed Sec. Properties, L.P. – 90% membership interest.

  HRP Nom 2 Inc. – 10% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  HRP
  Nom 2 L.P. (Delaware)

  	
   

  	
  Hub
  BD Mixed Sec. Properties, L.P. – 99% membership interest.

  HRP Nom 2, L.L.C. – 1% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  HRP
  Nom Inc. (Delaware)

  	
   

  	
  CommonWealth
  REIT owns 1,000 shares of common stock, $.01 par value, representing 100%
  ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  HRP
  Nom L.L.C. (Delaware)

  	
   

  	
  Hub
  BD Mixed Sec. Properties, L.P. – 90% membership interest.

  HRP Nom Inc. – 10% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  HRP
  Nom L.P. (Delaware)

  	
   

  	
  Hub
  BD Mixed Sec. Properties, L.P. – 99% membership interest.

  HRP Nom, L.L.C. – 1% membership interest.

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
  X

  
	
  HRPT
  Lenexa Properties Trust (Maryland)

  	
   

  	
  CommonWealth
  REIT – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  HRPT Medical Buildings Realty Trust (Nominee Trust –
  Massachusetts)

  	
   

  	
  Hub Properties Trust  is the 100% beneficiary.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  HRPT
  Memphis LLC (Delaware)

  	
   

  	
  CommonWealth
  REIT – 99% membership interest

  HRPT TRS, Inc. – 1% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  HRPT
  TRS, Inc. (Delaware)

  	
   

  	
  CommonWealth
  REIT owns 100 shares of common stock, $.01 par value, representing 100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hub
  Acquisition Trust (Maryland)

  	
   

  	
  CommonWealth
  REIT owns 1,000 shares of beneficial interest, $.01 par value, representing
  100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hub
  Albuquerque 25 LLC (Maryland)

  	
   

  	
  Hub
  Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  

 

 

	
  Entity and Jurisdiction

  of Organization

  	
   

  	
  Ownership Structure

  	
   

  	
  Material

  Subsidiary

  	
   

  	
  Excluded

  Subsidiary

  	
   

  	
  To Be Dissolved 

  or Merged Out 

  of Existence 

  Post Closing 

  Date

  
	
  Hub
  BD Mixed Sec. Properties, L.P. (Delaware)

  	
   

  	
  HRP
  GP, LLC – 1% ownership interest CommonWealth REIT – 99% ownership interest

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
  X

  
	
  Hub
  Corporate Crossing, LLC (Delaware)

  	
   

  	
  Hub
  Corporate Crossing Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
   

  
	
  Hub
  Corporate Crossing Properties Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 1,000 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
   

  
	
  Hub
  Highridge Properties Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 1,000 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
   

  
	
  Hub
  Highridge, LLC (Delaware)

  	
   

  	
  Hub
  Highridge Properties Trust – 100% membership interest.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
   

  
	
  Hub
  Hoboken Properties LLC (Delaware)

  	
   

  	
  Hub
  Properties Trust – 100% membership interest.

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
  X

  
	
  Hub
  LA Limited Partnership (Delaware)

  	
   

  	
  Hub
  Properties Trust – 98% ownership interest

  Hub LA Properties Trust – 1% ownership interest

  Medical Office Buildings Limited – 1% ownership interest

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
   

  
	
  Hub
  LA Properties Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 1,000 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hub
  Management, Inc. (Delaware)

  	
   

  	
  Hub
  Acquisition Trust owns 1,000 shares of common stock, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Hub MA Realty Trust  (Nominee Trust – Massachusetts)

  	
   

  	
  Hub Properties Trust  is the 100% beneficiary.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hub Madrone Properties LLC (Delaware)

  	
   

  	
  Hub Properties Trust – 100% membership
  interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hub Mid-West LLC (Maryland)

  	
   

  	
  Hub Properties Trust – 100% membership
  interest.

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
   

  
	
  Hub Milwaukee Center Properties LLC  (Delaware)

  	
   

  	
  Hub Properties Trust – 100% membership
  interest.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
   

  

 

 

	
  Entity and Jurisdiction

  of Organization

  	
   

  	
  Ownership Structure

  	
   

  	
  Material

  Subsidiary

  	
   

  	
  Excluded

  Subsidiary

  	
   

  	
  To Be Dissolved

  or Merged Out

  of Existence

  Post Closing

  Date

  
	
  Hub Northeast Medical Arts Center LLC (Delaware)

  	
   

  	
  Hub Properties GA LLC – 100% membership
  interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Hub OEC Properties LLC (Delaware)

  	
   

  	
  Hub Properties Trust – 100% membership
  interest.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
   

  
	
  Hub
  Properties GA LLC (Maryland)

  	
   

  	
  Hub
  Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hub
  Properties Trust (Maryland)

  	
   

  	
  CommonWealth
  REIT owns 1,000 shares of beneficial interest, $.01 par value, representing
  100% ownership.

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
   

  
	
  Hub
  Realty Buffalo, Inc. (Delaware)

  	
   

  	
  Hub
  Acquisition Trust owns 1 share of common stock, $.01 par value, representing
  100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Hub
  Realty College Park I, LLC (Maryland)

  	
   

  	
  Hub
  Management, Inc. – 50% membership interest

  Hub Realty College Park, Inc. – 50% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hub
  Realty College Park, Inc. (Delaware)

  	
   

  	
  Hub
  Acquisition Trust owns 1 share of common stock, $.01 par value, representing
  100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Hub
  Realty Funding, Inc. (Delaware)

  	
   

  	
  Hub
  Acquisition Trust owns 1 share of common stock, $.01 par value, representing
  100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hub
  Realty Golden, Inc. (Delaware)

  	
   

  	
  Hub
  Acquisition Trust owns 1 share of common stock, $.01 par value, representing
  100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Hub
  Realty Kansas City, Inc. (Delaware)

  	
   

  	
  Hub
  Acquisition Trust owns 1 share of common stock, $.01 par value, representing
  100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Hub
  Realty Richland, Inc. (Delaware)

  	
   

  	
  Hub
  Acquisition Trust owns 1 share of common stock, $.01 par value, representing
  100% ownership

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Hub
  RI Properties Trust (Maryland)

  	
   

  	
  CommonWealth
  REIT owns 1,000 shares of beneficial interest, $.01 par value, representing
  100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Hub
  Woodmont Investment Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 100 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  

 

 

	
  Entity and Jurisdiction

  of Organization

  	
   

  	
  Ownership Structure

  	
   

  	
  Material

  Subsidiary

  	
   

  	
  Excluded

  Subsidiary

  	
   

  	
  To Be Dissolved

  or Merged Out

  of Existence

  Post Closing

  Date

  
	
  HUB
  Woodmont Limited Liability Company (Delaware)

  	
   

  	
  Hub
  Woodmont Investment Trust – 99% membership interest

  Blackridge Woodmont LLC – 1% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Indemnity
  Collection Corporation (Delaware)

  	
   

  	
  CommonWealth
  REIT owns 100 shares of common stock, $.01 par value, representing 100%
  ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Indiana
  Avenue LLC (Delaware)

  	
   

  	
  SP
  Holding Property Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
  X

  
	
  Lakewood
  Property Trust (Maryland)

  	
   

  	
  SP
  Holding Property Trust owns 1,000 shares of beneficial interest, $.01 par
  value, representing 100% ownership.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
  X

  
	
  LTMAC
  Properties LLC (Maryland)

  	
   

  	
  Hawaii
  2x5 O Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Masters Properties LLC (Maryland)

  	
   

  	
  Hawaii 2x5 O Properties Trust – 100% membership
  interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  MOB Realty Trust (Nominee Trust – Massachusetts)

  	
   

  	
  Hub Properties Trust  is the 100% beneficiary.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nine
  Penn Center Associates, L.P. (Pennsylvania)

  	
   

  	
  Hub
  Properties Trust – 88% ownership interest

  Nine Penn Center Properties Trust – 1% ownership interest

  Transportation Associates – 11% ownership interest.

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
   

  
	
  Nine
  Penn Center Properties Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 100 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
  X

  	
   

  	
   

  
	
  Orville
  Properties LLC (Maryland)

  	
   

  	
  Hawaii
  2x5 O Properties Trust – 100% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Oscar
  Properties Trust (Maryland)

  	
   

  	
  CommonWealth
  REIT – 100% membership interest.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Park
  San Antonio Properties Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 1,000 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Putnam Place Realty Trust (Nominee Trust –
  Massachusetts)

  	
   

  	
  Hub Properties Trust  is the 100% beneficiary.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quarry
  Lake Properties Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 1,000 shares of beneficial interest, $.01 

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  

 

 

	
  Entity and Jurisdiction

  of Organization

  	
   

  	
  Ownership Structure

  	
   

  	
  Material

  Subsidiary

  	
   

  	
  Excluded

  Subsidiary

  	
   

  	
  To Be Dissolved

  or Merged Out

  of Existence

  Post Closing

  Date

  
	
   

  	
   

  	
  par
  value, representing 100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Research
  Park Properties Trust (Maryland)

  	
   

  	
  CommonWealth
  REIT owns 100 shares of beneficial interest, $.01 par value, representing
  100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  RFRI
  Properties LLC (Maryland)

  	
   

  	
  Hawaii
  2x5 O Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Ridge
  Lake Properties LLC (Delaware)

  	
   

  	
  Hub
  Properties Trust – 99% membership interest

  HRPT Memphis LLC – 1% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Robin
  1 Properties LLC (Maryland)

  	
   

  	
  Hawaii
  2x5 O Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Rosedale Corporate Plaza Condominium, Inc. (Minnesota)

  	
   

  	
  Rosedale
  Properties LLC owns 5 condo units representing 89% ownership. 

   

  Servico
  Roseville, Inc. owns 1 condo unit representing 11% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Rosedale
  Properties, Inc. (Delaware)

  	
   

  	
  Rosedale
  Properties Trust owns 100 shares of common stock, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Rosedale
  Properties Limited Liability Company (Delaware)

  	
   

  	
  Hub
  Properties Trust – 99% membership interest

  Rosedale Properties, Inc. – 1% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  Rosedale
  Properties Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 1,000 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  SP
  Holding Property Trust (Maryland)

  	
   

  	
  Hub
  Properties Trust owns 1,000 shares of beneficial interest, $.01 par value,
  representing 100% ownership.

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
  X

  
	
  Tanaka
  Properties LLC (Maryland)

  	
   

  	
  Hawaii
  2x5 O Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TedCal
  Properties LLC (Maryland)

  	
   

  	
  Hawaii
  2x5 O Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TSM Properties LLC (Maryland)

  	
   

  	
  Hawaii 2x5 O Properties Trust – 100% membership
  interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  University Avenue Realty Trust (Nominee Trust –
  Massachusetts)

  	
   

  	
  Hub Properties Trust  is the 100% beneficiary.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  

 

 

	
  Entity and Jurisdiction

  of Organization

  	
   

  	
  Ownership Structure

  	
   

  	
  Material

  Subsidiary

  	
   

  	
  Excluded

  Subsidiary

  	
   

  	
  To Be Dissolved

  or Merged Out

  of Existence

  Post Closing

  Date

  
	
  Z&A
  Properties LLC (Maryland)

  	
   

  	
  Hawaii
  2x5 O Properties Trust – 100% membership interest

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

Part II (Unconsolidated Affiliates)

 

1.                                      Affiliates
Insurance Company, an Indiana insurance company – 20,000 shares (14.29%).

 

 

SCHEDULE 6.1(f)

 

Title To Properties; Liens

 

Part
I (Real Property)

 

	
  OWNER

  	
   

  	
  STREET

  	
   

  	
  CITY

  	
   

  	
  STATE

  
	
  1600
  Market Street Property Trust

  	
   

  	
  1600
  Market Street

  	
   

  	
  Philadelphia

  	
   

  	
  PA

  
	
  ALPHA
  BT LLC

  	
   

  	
  91-222
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  ALPHA
  BT LLC

  	
   

  	
  91-209
  Kuhela

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  BD
  33 Stiles Lane Property LLC

  	
   

  	
  33
  Stiles Lane

  	
   

  	
  North
  Haven

  	
   

  	
  CT

  
	
  Blue
  Dog Bookspan Properties LLC

  	
   

  	
  501
  Ridge Avenue

  	
   

  	
  Hanover

  	
   

  	
  PA

  
	
  Blue
  Dog LLC

  	
   

  	
  400
  Princeton Blvd.

  	
   

  	
  Adairsville

  	
   

  	
  GA

  
	
  Blue
  Dog LLC

  	
   

  	
  7629
  Highway 140

  	
   

  	
  Adairsville

  	
   

  	
  GA

  
	
  Blue
  Dog LLC

  	
   

  	
  951
  Trails Road

  	
   

  	
  Eldridge

  	
   

  	
  IA

  
	
  Blue
  Dog LLC

  	
   

  	
  625
  Crane Street

  	
   

  	
  Aurora

  	
   

  	
  IL

  
	
  Blue
  Dog LLC

  	
   

  	
  745
  S. Gardner Street

  	
   

  	
  Scottsburg

  	
   

  	
  IN

  
	
  Blue
  Dog LLC

  	
   

  	
  5015
  S. Water Circle

  	
   

  	
  Wichita

  	
   

  	
  KS

  
	
  Blue
  Dog LLC

  	
   

  	
  2300
  North 33rd Avenue East

  	
   

  	
  Newton

  	
   

  	
  IA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  4
  South 84th Ave

  	
   

  	
  Tolleson

  	
   

  	
  AZ

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  411
  Farwell Avenue

  	
   

  	
  St.
  Paul

  	
   

  	
  MN

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  2660
  Mercantile Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  2664
  Mercantile Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  2668
  Mercantile Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  8500
  Fruitridge Road

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  8516
  Fruitridge Road

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9727
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9745
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9767
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9777
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9778
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9779
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9792
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9795
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9800
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9816
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9840
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9844
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9848
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9852
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  

 

 

	
  Blue
  Dog Properties Trust

  	
   

  	
  9856
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9975
  Horn Road

  	
   

  	
  Sacramento

  	
   

  	
  CA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  19026
  72nd Avenue South

  	
   

  	
  Kent

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  19030
  West Valley Highway

  	
   

  	
  Kent

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  19030-42
  72nd Avenue South

  	
   

  	
  Kent

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  340
  Andover Park East

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  505
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  530
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  533
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  564
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  565
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  596
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  605
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  630
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  644
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  662
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  742
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  698
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  701
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  505
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  15201
  Mercantile Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  3001
  Gulley Road

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  3101
  Gulley Road

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  3231
  Gulley Road

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  3241
  Gulley Road

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  3251
  Gulley Road

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  97
  Newberry Road

  	
   

  	
  East
  Windsor

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  129
  Worthington Ridge Road

  	
   

  	
  Berlin

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  15
  Sterling Drive

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  2
  Tower Drive

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  50
  Barnes Industrial Road North

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  23-27
  Village Lane

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  29-33
  Village Lane

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  One
  Barnes Industrial Rd South

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  5-9
  Barnes Industrial Road

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  860
  North Main Street

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  866
  North Main Street

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  181
  Marsh Hill Road

  	
   

  	
  Orange

  	
   

  	
  CT

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  500
  Industrial Boulevard

  	
   

  	
  Russellville

  	
   

  	
  AR

  

 

 

	
  Blue
  Dog Properties Trust

  	
   

  	
  546
  Harvey Faulk Road

  	
   

  	
  Sanford

  	
   

  	
  NC

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  2735
  E. 40th Street

  	
   

  	
  Cleveland

  	
   

  	
  OH

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  721
  Richard Street

  	
   

  	
  Miamisburg

  	
   

  	
  OH

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  1043
  Global Avenue

  	
   

  	
  Graniteville

  	
   

  	
  SC

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  128
  Crews Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  351
  Collins Road

  	
   

  	
  Jefferson

  	
   

  	
  WI

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  111
  Southchase Blvd.

  	
   

  	
  Fountain
  Inn

  	
   

  	
  SC

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  32150
  Just Imagine Drive

  	
   

  	
  Avon

  	
   

  	
  OH

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  6200
  Glenn Carlson Drive

  	
   

  	
  St.
  Cloud

  	
   

  	
  MN

  
	
  Bridgepoint
  Property Trust

  	
   

  	
  Bridgepoint
  Parkway 1

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Bridgepoint
  Property Trust

  	
   

  	
  Bridgepoint
  Parkway 2

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Bridgepoint
  Property Trust

  	
   

  	
  Bridgepoint
  Parkway 3

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Bridgepoint
  Property Trust

  	
   

  	
  Bridgepoint
  Parkway 4

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Bridgepoint
  Property Trust

  	
   

  	
  Bridgepoint
  Parkway 5

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Candler
  Associates L.L.C.

  	
   

  	
  111
  Market Street

  	
   

  	
  Baltimore

  	
   

  	
  MD

  
	
  Causeway
  Holdings Inc.

  	
   

  	
  251
  Causeway Street

  	
   

  	
  Boston

  	
   

  	
  MA

  
	
  Cedars
  LA LLC

  	
   

  	
  8631
  W. 3rd Street – East

  	
   

  	
  Los
  Angeles

  	
   

  	
  CA

  
	
  Cedars
  LA LLC

  	
   

  	
  8631
  W. 3rd Street – West

  	
   

  	
  Los
  Angeles

  	
   

  	
  CA

  
	
  First
  Associates LLC

  	
   

  	
  25
  S. Charles Street

  	
   

  	
  Baltimore

  	
   

  	
  MD

  
	
  Fourth
  and Roma Property Trust

  	
   

  	
  500
  4th Street & 303 Roma Ave

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Franklin
  Plaza Property Trust

  	
   

  	
  One
  Franklin Plaza

  	
   

  	
  Philadelphia

  	
   

  	
  PA

  
	
  Hawaii
  Metamorphosis LLC

  	
   

  	
  91-008
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-265
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-255
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-241
  Kalaeloa

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-325
  Komohana

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Komohana

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-202
  Kalaeloa

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-080
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-027
  Kaomi Loop

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-185
  Kalaeloa

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-329
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-086
  Kaomi Loop

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-349
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-400
  Komohana

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-170
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-218
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-175
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  

 

 

	
  Hawaii
  MMGD LLC

  	
   

  	
  91-087
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-083
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-091
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-220
  Kalaeloa

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-252
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-259
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-238
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-410
  Komohana

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-410
  Komohana

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-300
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-255
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-120
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-150
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-102
  Kaomi Loop – A

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-102
  Kaomi Loop – B

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-064
  Kaomi Loop

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-119
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Texaco
  Easement

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Tesaro
  967 Easement

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  AES
  HI Easement

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Other
  Easments & Lots

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Hawaii
  Phoenix Properties LLC

  	
   

  	
  91-150
  Kaomi Loop

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Herald
  Square LLC

  	
   

  	
  1250
  H Street, NW

  	
   

  	
  Washington

  	
   

  	
  DC

  
	
  HH
  Hub Properties LLC

  	
   

  	
  One
  Memphis Place

  	
   

  	
  Memphis

  	
   

  	
  TN

  
	
  Higgins
  Properties LLC

  	
   

  	
  80
  Sand Island Access Road

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Higgins
  Properties LLC

  	
   

  	
  94-240
  Pupuole St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Higgins
  Properties LLC

  	
   

  	
  525
  N. King Street

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  2
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  3E
  Executive Park East

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  4E
  Executive Park East

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  4
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  6
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  8
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  11
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  14
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  16
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  17
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  18
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  

 

 

	
  HRP
  Nom 2 L.P.

  	
   

  	
  20
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  22
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  24
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  26
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  50
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  52
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  57
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  59
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom L.P.

  	
   

  	
  5100-70
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5101
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5201
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5250
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5260
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5265
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5275
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5325
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5351
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5370
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5375
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5380
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5385
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  5401
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  
	
  HRP
  Nom L.P.

  	
   

  	
  8555
  Aero Drive

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  HRP
  Nom L.P.

  	
   

  	
  600
  108th Ave. NE

  	
   

  	
  Bellevue

  	
   

  	
  WA

  
	
  HRP
  Nom L.P.

  	
   

  	
  1
  Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom L.P.

  	
   

  	
  2
  Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom L.P.

  	
   

  	
  9
  Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom L.P.

  	
   

  	
  13
  Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom L.P.

  	
   

  	
  54
  Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  HRP
  Nom L.P.

  	
   

  	
  1
  Parklane Boulevard

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  HRP
  Nom L.P.

  	
   

  	
  15000
  Commerce Drive North

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  HRP
  Nom L.P.

  	
   

  	
  15001
  Commerce Drive North

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  HRP
  Nom L.P.

  	
   

  	
  15050
  Commerce Drive North

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  HRP
  Nom L.P.

  	
   

  	
  15120
  Commerce Drive North

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  HRP
  Nom L.P.

  	
   

  	
  15101
  Century Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  HRP
  Nom L.P.

  	
   

  	
  15201
  Century Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  HRP
  Nom L.P.

  	
   

  	
  15301
  Century Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  HRP
  Nom L.P.

  	
   

  	
  15401
  Century Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  HRP
  Nom L.P.

  	
   

  	
  15301
  Mercantile Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  

 

 

	
  HRP
  Nom L.P.

  	
   

  	
  15300
  Rotunda Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  
	
  HRP
  Nom L.P.

  	
   

  	
  6001
  Montrose Road

  	
   

  	
  Rockville

  	
   

  	
  MD

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11300
  Corporate Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13400-13428
  West 99th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13401-13423
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13424-13430
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13300-13316
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13250-13256
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13200-13202
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13253-13269
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13309-13321
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13306-13318
  West 99th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13208-13228
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13900
  West 101st Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13901
  West 101st Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 1

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 2

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 3

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 4

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 5

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 6

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9901
  Pflumm Road

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9850
  Industrial Blvd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9802
  Widmer Road

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9851-9875
  Widmer

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9801-9829
  Widmer Road

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9745-9777
  Widmer Road

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  10105
  Marshall Drive

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  NWC
  Industrial Blvd and Widmer Rd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  E/S
  of Widmer Road

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SWC
  W 98th St. and Marshall Drive

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SEC
  College Blvd. and Renner Blvd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  15705-15734
  College Boulevard

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  15501-15529
  College Boulevard

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11140-11145
  Thompson Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11150-11180
  Thompson Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11206-11228
  Thompson Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  15620-15642
  West 113th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11203-11211
  Lakeview Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  

 

 

	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  15405
  College Boulevard

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11135
  Sante Fe Trail Drive

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  15500
  West 113th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  16011
  College Boulevard

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  16025-16105
  West 113th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  22300
  Lakeview Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SW
  Corner of College Blvd & Lackm – Retail

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SW
  Corner of College Blvd & Lackm – ATM

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SEC
  College Blvd. and Renner Blvd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  E/S
  of Renner Blvd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  NEC
  W 113th St. and Renner Blvd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SWC
  College Blvd and Corporate Av

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  NEC
  College Blvd Corporate Ave

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  NEC
  Corporate Ave and 113th – Parcel 17.6

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  NEC
  Corporate Ave and W 113th – Parcel 17.7

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  Waterside
  Maintenance District

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  Southlake
  Owners Association

  	
   

  	
  Lenexa

  	
   

  	
  KS

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  4700
  Belleview Avenue

  	
   

  	
  Kansas
  City

  	
   

  	
  MO

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  131-165
  West Ninth Street

  	
   

  	
  N
  Kansas City

  	
   

  	
  MO

  
	
  HRPT
  Medical Building Realty Trust

  	
   

  	
  1295
  Boylston Street

  	
   

  	
  Boston

  	
   

  	
  MA

  
	
  HRPT
  Medical Building Realty Trust

  	
   

  	
  109
  Brookline Avenue

  	
   

  	
  Boston

  	
   

  	
  MA

  
	
  Hub
  Acquisition Trust

  	
   

  	
  55
  North Robinson Ave.

  	
   

  	
  Oklahoma
  City

  	
   

  	
  OK

  
	
  Hub
  Acquisition Trust

  	
   

  	
  5051
  Rodeo Road

  	
   

  	
  Los
  Angeles

  	
   

  	
  CA

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6501
  Americas Parkway NE

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6602
  Indian School Road

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Acquisition Trust

  	
   

  	
  2121
  Louisiana Ave

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6511
  Americas Parkway NE

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6600
  Indian School Road

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6640-46
  Indian School Road

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6521
  Americas Parkway NE

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Corporate Crossing, LLC

  	
   

  	
  179
  Sully’s Trail

  	
   

  	
  Pittsford

  	
   

  	
  NY

  
	
  Hub
  Corporate Crossing, LLC

  	
   

  	
  183
  Sully’s Trail

  	
   

  	
  Pittsford

  	
   

  	
  NY

  
	
  Hub
  Highridge, LLC

  	
   

  	
  Highridge
  Center

  	
   

  	
  Macon

  	
   

  	
  GA

  
	
  Hub
  Hoboken Properties LLC 

  	
   

  	
  111
  River Street

  	
   

  	
  Hoboken

  	
   

  	
  NJ

  
	
  Hub
  MA Realty Trust

  	
   

  	
  2300
  Crown Colony Drive

  	
   

  	
  Quincy

  	
   

  	
  MA

  
	
  Hub
  MA Realty Trust

  	
   

  	
  One
  Heritage Drive

  	
   

  	
  Quincy

  	
   

  	
  MA

  
	
  Hub
  MA Realty Trust

  	
   

  	
  Two
  Heritage Drive

  	
   

  	
  Quincy

  	
   

  	
  MA

  

 

 

	
  Hub
  MA Realty Trust

  	
   

  	
  111
  Powerdermill Rd.

  	
   

  	
  Maynard

  	
   

  	
  MA

  
	
  Hub
  Madrone Properties LLC

  	
   

  	
  18705
  Madrone Parkway

  	
   

  	
  Morgan
  Hill

  	
   

  	
  CA

  
	
  Hub
  Madrone Properties LLC

  	
   

  	
  18715
  Madrone Parkway

  	
   

  	
  Morgan
  Hill

  	
   

  	
  CA

  
	
  Hub
  Madrone Properties LLC

  	
   

  	
  18735
  Madrone Parkway

  	
   

  	
  Morgan
  Hill

  	
   

  	
  CA

  
	
  Hub
  Mid-West LLC

  	
   

  	
  1615
  Lakeside Street

  	
   

  	
  Waukegan

  	
   

  	
  IL

  
	
  Hub
  Mid-West LLC

  	
   

  	
  1675
  Lakeside Drive

  	
   

  	
  Waukegan

  	
   

  	
  IL

  
	
  Hub
  Mid-West LLC

  	
   

  	
  1955
  West Field Court

  	
   

  	
  Lake
  Forest

  	
   

  	
  Il

  
	
  Hub
  Mid-West LLC

  	
   

  	
  1717
  Deerfield Road

  	
   

  	
  Deerfield

  	
   

  	
  IL

  
	
  Hub
  Mid-West LLC

  	
   

  	
  1200
  Lakeside Drive

  	
   

  	
  Bannockburn

  	
   

  	
  IL

  
	
  Hub
  Mid-West LLC

  	
   

  	
  905
  Meridian Lake Drive

  	
   

  	
  Aurora

  	
   

  	
  IL

  
	
  Hub
  Milwaukee Center Properties LLC

  	
   

  	
  111
  East Kilbourn Avenue

  	
   

  	
  Milwaukee

  	
   

  	
  WI

  
	
  Hub
  OEC Properties LLC

  	
   

  	
  225
  Water Street

  	
   

  	
  Jacksonville

  	
   

  	
  FL

  
	
  Hub
  Properties GA LLC

  	
   

  	
  3
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  Hub
  Properties GA LLC

  	
   

  	
  5
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  Hub
  Properties GA LLC

  	
   

  	
  9040
  Roswell Road

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  Hub
  Properties GA LLC

  	
   

  	
  1765
  The Exchange

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  Hub
  Properties GA LLC

  	
   

  	
  115
  W. Washington Street

  	
   

  	
  Indianapolis

  	
   

  	
  IN

  
	
  Hub
  Properties GA LLC

  	
   

  	
  3600
  Woodview Trace

  	
   

  	
  Indianapolis

  	
   

  	
  IN

  
	
  Hub
  Properties GA LLC

  	
   

  	
  1000
  Holcomb Woods Parkway

  	
   

  	
  Roswell

  	
   

  	
  GA

  
	
  Hub
  Properties GA LLC

  	
   

  	
  1775
  The Exchange

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  Hub
  Properties GA LLC

  	
   

  	
  Fidelity
  Tower II

  	
   

  	
  Carmel

  	
   

  	
  IN

  
	
  Hub
  Properties GA LLC

  	
   

  	
  1339
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  
	
  Hub
  Properties GA LLC

  	
   

  	
  1775
  West Oak Commons

  	
   

  	
  Marrietta

  	
   

  	
  GA

  
	
  Hub
  Properties GA LLC

  	
   

  	
  3120
  Breckinridge – 1

  	
   

  	
  Duluth

  	
   

  	
  GA

  
	
  Hub
  Properties GA LLC

  	
   

  	
  3120
  Breckinridge – 2

  	
   

  	
  Duluth

  	
   

  	
  GA

  
	
  Hub
  Properties Trust

  	
   

  	
  5555
  Oberlin Drive

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  5627
  Oberlin Drive

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  5601
  Oberlin Drive

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  5626
  Oberlin Drive

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  1035
  Virginia Drive

  	
   

  	
  FT.
  Washington

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  515
  Pennsylvania Ave.

  	
   

  	
  FT.
  Washington

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  723
  Dresher Road

  	
   

  	
  Horsham

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  443
  Gulph Road

  	
   

  	
  King
  of Prussia

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  100
  South Charles Street

  	
   

  	
  Baltimore

  	
   

  	
  MD

  
	
  Hub
  Properties Trust

  	
   

  	
  830
  Potomac Circle

  	
   

  	
  Aurora

  	
   

  	
  CO

  
	
  Hub
  Properties Trust

  	
   

  	
  6937
  N. IH 35 North

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Hub
  Properties Trust

  	
   

  	
  3043
  Walton Road

  	
   

  	
  Plymouth
  Meeting

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  475
  Virginia Drive

  	
   

  	
  FT.
  Washington

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  216
  Mall Blvd.

  	
   

  	
  King
  of Prussia

  	
   

  	
  PA

  

 

 

	
  Hub
  Properties Trust

  	
   

  	
  1305
  Corporate Center Drive

  	
   

  	
  Eagan

  	
   

  	
  MN

  
	
  Hub
  Properties Trust

  	
   

  	
  8800
  Queen Ave South & 88th St.

  	
   

  	
  Bloomington

  	
   

  	
  MN

  
	
  Hub
  Properties Trust

  	
   

  	
  2100
  NW 82nd Ave & NW 21st St.

  	
   

  	
  Miami

  	
   

  	
  FL

  
	
  Hub
  Properties Trust

  	
   

  	
  2250
  Pilot Knob Road

  	
   

  	
  Mendota
  Heights

  	
   

  	
  MN

  
	
  Hub
  Properties Trust

  	
   

  	
  4421
  W. John Carpenter Freeway

  	
   

  	
  Irving

  	
   

  	
  TX

  
	
  Hub
  Properties Trust

  	
   

  	
  1000
  Vorhees Drive

  	
   

  	
  Vorhees

  	
   

  	
  NJ

  
	
  Hub
  Properties Trust

  	
   

  	
  333
  Laurel Oak Road

  	
   

  	
  Vorhees

  	
   

  	
  NJ

  
	
  Hub
  Properties Trust

  	
   

  	
  400
  Laurel Oak Road

  	
   

  	
  Vorhees

  	
   

  	
  NJ

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  Stuart Plaza (Donahue Road)

  	
   

  	
  Greensburg

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  35
  Thorpe Avenue

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Hub
  Properties Trust

  	
   

  	
  5300
  Kings Island Drive

  	
   

  	
  Mason

  	
   

  	
  OH

  
	
  Hub
  Properties Trust

  	
   

  	
  100
  Kings Hwy.

  	
   

  	
  Irondoquoit

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  802
  Delaware Ave.

  	
   

  	
  Wilmington

  	
   

  	
  DE

  
	
  Hub
  Properties Trust

  	
   

  	
  7-9
  Vreeland Road

  	
   

  	
  Florham
  Park

  	
   

  	
  NJ

  
	
  Hub
  Properties Trust

  	
   

  	
  3330
  N. Washington Blvd

  	
   

  	
  Arlington

  	
   

  	
  VA

  
	
  Hub
  Properties Trust

  	
   

  	
  700
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  580
  Virginia Drive

  	
   

  	
  FT.
  Washington

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  101
  Barnes Road

  	
   

  	
  Wallingford

  	
   

  	
  CT

  
	
  Hub
  Properties Trust

  	
   

  	
  2800
  Eisenhower Drive

  	
   

  	
  Alexandria

  	
   

  	
  VA

  
	
  Hub
  Properties Trust

  	
   

  	
  3000
  Goffs Falls Road

  	
   

  	
  Manchester

  	
   

  	
  NH

  
	
  Hub
  Properties Trust

  	
   

  	
  1601
  Rio Grande St.

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Hub
  Properties Trust

  	
   

  	
  1525
  Locust Street

  	
   

  	
  Philadelphia

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  Suffolk Square

  	
   

  	
  Islandia

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  200
  Old County Rd.

  	
   

  	
  Minneola

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  Lincoln Center

  	
   

  	
  Syracuse

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Exchange
  Park

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Hub
  Properties Trust

  	
   

  	
  1920 &
  1930 University Drive

  	
   

  	
  Tempe

  	
   

  	
  AZ

  
	
  Hub
  Properties Trust

  	
   

  	
  1001
  Jefferson Plaza

  	
   

  	
  Wilmington

  	
   

  	
  DE

  
	
  Hub
  Properties Trust

  	
   

  	
  Two
  Corporate Center

  	
   

  	
  Melville

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  2444
  W. Las Palmaritas Drive

  	
   

  	
  Phoenix

  	
   

  	
  AZ

  
	
  Hub
  Properties Trust

  	
   

  	
  8701
  MOPAC

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Hub
  Properties Trust

  	
   

  	
  7100
  Northland Circle

  	
   

  	
  Minneapolis

  	
   

  	
  MN

  
	
  Hub
  Properties Trust

  	
   

  	
  1000
  Shelard Parkway

  	
   

  	
  Minneapolis

  	
   

  	
  MN

  
	
  Hub
  Properties Trust

  	
   

  	
  9800
  Shelard Parkway

  	
   

  	
  Plymouth

  	
   

  	
  MN

  
	
  Hub
  Properties Trust

  	
   

  	
  525
  Park Street

  	
   

  	
  St.
  Paul

  	
   

  	
  MN

  
	
  Hub
  Properties Trust

  	
   

  	
  200
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  300
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  400
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  500
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  

 

 

	
  Hub
  Properties Trust

  	
   

  	
  600
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  625
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  Cherrington
  Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  Randolph
  Bldg.

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Properties Trust

  	
   

  	
  Buena
  Vista Bldg.

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Properties Trust

  	
   

  	
  Lab
  Bldg.

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Properties Trust

  	
   

  	
  Sandia
  Vista Bldg.

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Properties Trust

  	
   

  	
  960
  Harvest Run Drive Bldg A

  	
   

  	
  Blue
  Bell

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  960
  Harvest Run Drive Bldg B

  	
   

  	
  Blue
  Bell

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  960
  Harvest Run Drive Bldg C

  	
   

  	
  Blue
  Bell

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  251
  Salina Meadows Parkway

  	
   

  	
  Syracuse

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  14026 &
  14030 Thunderbolt Place – 1

  	
   

  	
  Fairfax

  	
   

  	
  VA

  
	
  Hub
  Properties Trust

  	
   

  	
  14026 &
  14030 Thunderbolt Place – 2

  	
   

  	
  Fairfax

  	
   

  	
  VA

  
	
  Hub
  Properties Trust

  	
   

  	
  4516
  Seton Center Parkway

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Hub
  Properties Trust

  	
   

  	
  3840
  South Wadsworth Blvd – 1

  	
   

  	
  Lakewood

  	
   

  	
  CO

  
	
  Hub
  Properties Trust

  	
   

  	
  3840
  South Wadsworth Blvd – 2

  	
   

  	
  Lakewood

  	
   

  	
  CO

  
	
  Hub
  Properties Trust

  	
   

  	
  5790
  Widewaters Parkway

  	
   

  	
  DeWitt

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  9110
  East Nichols Ave

  	
   

  	
  Englewood

  	
   

  	
  CO

  
	
  Hub
  Properties Trust

  	
   

  	
  11209-11211
  North Tatum Blvd

  	
   

  	
  Phoenix

  	
   

  	
  AZ

  
	
  Hub
  Properties Trust

  	
   

  	
  11201
  North Tatum Blvd

  	
   

  	
  Phoenix

  	
   

  	
  AZ

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  South Church

  	
   

  	
  Tucson

  	
   

  	
  AZ

  
	
  Hub
  Properties Trust

  	
   

  	
  9173
  Sky Park Centre

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  9177
  Sky Park Centre

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  1500-1542
  Market Street

  	
   

  	
  Philadelphia

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  6160
  Kempsville Circle

  	
   

  	
  Norfolk

  	
   

  	
  VA

  
	
  Hub
  Properties Trust

  	
   

  	
  373
  Inverness Drive South

  	
   

  	
  Englewood

  	
   

  	
  CO

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  Constitution Way

  	
   

  	
  Foxborough

  	
   

  	
  MA

  
	
  Hub
  Properties Trust

  	
   

  	
  5555
  North Beach Street

  	
   

  	
  Ft.
  Worth

  	
   

  	
  TX

  
	
  Hub
  Properties Trust

  	
   

  	
  1101
  Pacific Avenue

  	
   

  	
  Erianger

  	
   

  	
  KY

  
	
  Hub
  Properties Trust

  	
   

  	
  599
  Research Parkway

  	
   

  	
  Meriden

  	
   

  	
  CT

  
	
  Hub
  Properties Trust

  	
   

  	
  20
  Cabot Ave

  	
   

  	
  Mansfield

  	
   

  	
  MA

  
	
  Hub
  Properties Trust

  	
   

  	
  100
  Hampshire Street

  	
   

  	
  Mansfield

  	
   

  	
  MA

  
	
  Hub
  Properties Trust

  	
   

  	
  575
  West Street

  	
   

  	
  Mansfield

  	
   

  	
  MA

  
	
  Hub
  Properties Trust

  	
   

  	
  50
  Cabot Blvd

  	
   

  	
  Mansfield

  	
   

  	
  MA

  
	
  Hub
  Properties Trust

  	
   

  	
  100
  Northfield Drive

  	
   

  	
  Windsor

  	
   

  	
  CT

  
	
  Hub
  Properties Trust

  	
   

  	
  15
  Hampshire Street

  	
   

  	
  Mansfield

  	
   

  	
  MA

  
	
  Hub
  Properties Trust

  	
   

  	
  5
  Hampshire Street

  	
   

  	
  Mansfield

  	
   

  	
  MA

  
	
  Hub
  Properties Trust

  	
   

  	
  4411
  The 25 Way

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Properties Trust

  	
   

  	
  4420
  The 25 Way

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  

 

 

	
  Hub
  Properties Trust

  	
   

  	
  4430
  The 25 Way

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  
	
  Hub
  Properties Trust

  	
   

  	
  1285
  Fern Ridge Parkway

  	
   

  	
  St.
  Louis

  	
   

  	
  MO

  
	
  Hub
  Properties Trust

  	
   

  	
  1921
  E. Alton Ave

  	
   

  	
  Santa
  Ana

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  1926
  Meyer Drury Drive

  	
   

  	
  Arnold

  	
   

  	
  MO

  
	
  Hub
  Properties Trust

  	
   

  	
  448
  Viking Drive

  	
   

  	
  Virginia
  Beach

  	
   

  	
  VA

  
	
  Hub
  Properties Trust

  	
   

  	
  3420
  Camino del Rio North

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  3430
  Camino del Rio North

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  3530
  Camino del Rio North

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  3550
  Camino del Rio North

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  3570
  Camino del Rio North

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  9715
  Key West Ave

  	
   

  	
  Rockville

  	
   

  	
  MD

  
	
  Hub
  Properties Trust

  	
   

  	
  9717
  Key West Ave

  	
   

  	
  Rockville

  	
   

  	
  MD

  
	
  Hub
  Properties Trust

  	
   

  	
  9719
  Key West Ave

  	
   

  	
  Rockville

  	
   

  	
  MD

  
	
  Hub
  Properties Trust

  	
   

  	
  4350
  Northern Pike

  	
   

  	
  Monroeville

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  1601
  Dry Creek Drive

  	
   

  	
  Longmont

  	
   

  	
  CO

  
	
  Hub
  Properties Trust

  	
   

  	
  167
  Sully’s Trail

  	
   

  	
  Pittsford

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  171
  Sully’s Trail

  	
   

  	
  Pittsford

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  175
  Sully’s Trail

  	
   

  	
  Pittsford

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  1200
  Pittsford - Victor Road

  	
   

  	
  Pittsford

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  1212
  Pittsford - Victor Road

  	
   

  	
  Pittsford

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  205
  Indigo Creek Drive

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  185
  Plains Road

  	
   

  	
  Milford

  	
   

  	
  CT

  
	
  Hub
  Properties Trust

  	
   

  	
  415
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  425
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  601
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  501
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  651
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  681
  Andersen Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  661
  Andersen Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  730
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  680
  Andersen Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  
	
  Hub
  Properties Trust

  	
   

  	
  800
  East 101st Terrace

  	
   

  	
  Kansas
  City

  	
   

  	
  MO

  
	
  Hub
  Properties Trust

  	
   

  	
  3
  Crown Point Court

  	
   

  	
  Sharonville

  	
   

  	
  OH

  
	
  Hub
  Properties Trust

  	
   

  	
  9435
  Waterstone Boulevard

  	
   

  	
  Mason

  	
   

  	
  OH

  
	
  Hub
  Properties Trust

  	
   

  	
  140
  Canal View Blvd

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  180
  Canal View Blvd

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  500
  Canal View Blvd

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  777
  Canal View Blvd

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  2100
  Brighton Henrietta Town

  	
   

  	
  Rochester

  	
   

  	
  NY

  

 

 

	
  Hub
  Properties Trust

  	
   

  	
  2144
  Brighton Henrietta Town

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  2165
  Brighton Henrietta Town

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  2320
  Brighton Henrietta Town

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  1057
  E Henrietta Road

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  3144
  Winton Road South

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  150
  Bellwood Drive

  	
   

  	
  Rochester

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  8687
  Carling Road

  	
   

  	
  Liverpool

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  I

  	
   

  	
  Dewitt

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  II

  	
   

  	
  Dewitt

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  III

  	
   

  	
  Dewitt

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  VI

  	
   

  	
  Dewitt

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  VII

  	
   

  	
  Dewitt

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  VIII

  	
   

  	
  Dewitt

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  IX

  	
   

  	
  Dewitt

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  I

  	
   

  	
  Fairport

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  II

  	
   

  	
  Fairport

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  III

  	
   

  	
  Fairport

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  IV

  	
   

  	
  Fairport

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  V

  	
   

  	
  Fairport

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  VI

  	
   

  	
  Fairport

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Enterprise
  Building

  	
   

  	
  Dewitt

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Brittonfield
  I

  	
   

  	
  East
  Syracuse

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Corporate
  Woods

  	
   

  	
  Liverpool

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Interstate
  Place I

  	
   

  	
  North
  Syracuse

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Interstate
  Place II

  	
   

  	
  North
  Syracuse

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Henry
  Clay Building

  	
   

  	
  Liverpool

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Lakeshore
  Office Building

  	
   

  	
  Liverpool

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Citizens
  Office Building

  	
   

  	
  Sherburne

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  Bushnells
  Basin

  	
   

  	
  Pittsford

  	
   

  	
  NY

  
	
  Hub
  Properties Trust

  	
   

  	
  181
  Battaile Drive

  	
   

  	
  Winchester

  	
   

  	
  VA

  
	
  Hub
  Properties Trust

  	
   

  	
  201
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  121
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  250
  Berryhill Road

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  111
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  101
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  100
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  220
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  Cornell
  Center

  	
   

  	
  Blue
  Ash

  	
   

  	
  OH

  
	
  Hub
  Properties Trust

  	
   

  	
  West
  Park I

  	
   

  	
  St.
  Louis

  	
   

  	
  MO

  

 

 

	
  Hub
  Properties Trust

  	
   

  	
  1001
  East 101st Terrace

  	
   

  	
  Kansas
  City

  	
   

  	
  MO

  
	
  Hub
  Properties Trust

  	
   

  	
  The
  Colonial Bank Building

  	
   

  	
  Birmingham

  	
   

  	
  AL

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  Southern Court

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  720
  Gracern Rd, Bldg. 100

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  714
  Betsy Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  720
  Gracern Rd, Bldg. 400

  	
   

  	
  Columbia

  	
   

  	
  SC

  
	
  Hub
  Properties Trust

  	
   

  	
  440
  Myles Standish Blvd

  	
   

  	
  Taunton

  	
   

  	
  MA

  
	
  Hub
  Properties Trust

  	
   

  	
  470
  Myles Standish Blvd

  	
   

  	
  Taunton

  	
   

  	
  MA

  
	
  Hub
  Properties Trust

  	
   

  	
  40
  Sebethe Drive

  	
   

  	
  Cromwell

  	
   

  	
  CT

  
	
  Hub
  Properties Trust

  	
   

  	
  901
  Lakeside Ave (E. 9th Street)

  	
   

  	
  Cleveland

  	
   

  	
  OH

  
	
  Hub
  Properties Trust

  	
   

  	
  1001
  Lakeside Ave

  	
   

  	
  Cleveland

  	
   

  	
  OH

  
	
  Hub
  Properties Trust

  	
   

  	
  North
  Point Garage

  	
   

  	
  Cleveland

  	
   

  	
  OH

  
	
  Hub
  Properties Trust

  	
   

  	
  17th
  Street Plaza

  	
   

  	
  Denver

  	
   

  	
  CO

  
	
  Hub
  Properties Trust

  	
   

  	
  2001
  Wisconsin Ave

  	
   

  	
  Washington

  	
   

  	
  DC

  
	
  Hub
  Properties Trust

  	
   

  	
  3300
  Whitehaven St

  	
   

  	
  Washington

  	
   

  	
  DC

  
	
  Hub
  Properties Trust

  	
   

  	
  333
  108th Avenue NE

  	
   

  	
  Bellevue

  	
   

  	
  WA

  
	
  Hub
  Properties Trust

  	
   

  	
  5073,
  5075, 5085 South Syracuse Street

  	
   

  	
  Denver

  	
   

  	
  CO

  
	
  Hub
  Properties Trust

  	
   

  	
  7450
  Campus Drive

  	
   

  	
  Colorado
  Springs

  	
   

  	
  CO

  
	
  Hub
  Properties Trust

  	
   

  	
  777
  East Eisenhower Parkway

  	
   

  	
  Ann
  Arbor

  	
   

  	
  MI

  
	
  Hub
  Properties Trust

  	
   

  	
  789
  East Eisenhower Parkway

  	
   

  	
  Ann
  Arbor

  	
   

  	
  MI

  
	
  Hub
  Properties Trust

  	
   

  	
  18701
  Wilmington Avenue

  	
   

  	
  Carson

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  1815
  University Drive

  	
   

  	
  Carson

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  47201
  Lakeview Blvd

  	
   

  	
  Fremont

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  47211
  Lakeview Blvd

  	
   

  	
  Fremont

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  47900
  Bayside Pkway

  	
   

  	
  Fremont

  	
   

  	
  CA

  
	
  Hub
  Properties Trust

  	
   

  	
  47131
  Bayside Pkway

  	
   

  	
  Fremont

  	
   

  	
  CA

  
	
  Hub
  Realty College Park I, LLC

  	
   

  	
  4700
  River Road

  	
   

  	
  Riverdale
  Park

  	
   

  	
  MD

  
	
  Hub
  Realty Funding, Inc.

  	
   

  	
  1474
  Rodeo Rd.

  	
   

  	
  Sante
  Fe

  	
   

  	
  NM

  
	
  Hub
  Realty Funding, Inc.

  	
   

  	
  820
  W. Diamond Ave.

  	
   

  	
  Gaithersburg

  	
   

  	
  MD

  
	
  Hub
  Realty Funding, Inc.

  	
   

  	
  6710
  Oxen Hill Road

  	
   

  	
  Oxen
  Hill

  	
   

  	
  MD

  
	
  Indiana
  Avenue LLC

  	
   

  	
  625
  Indiana Ave.

  	
   

  	
  Washington

  	
   

  	
  DC

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2833
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Lakewood
  Property Trust

  	
   

  	
  7600
  Capitol of Texas Highway – A

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Lakewood
  Property Trust

  	
   

  	
  7600
  Capitol of Texas Highway – B

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Lakewood
  Property Trust

  	
   

  	
  7600
  Capitol of Texas Highway – C

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2879
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2833
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1055
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2875
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  

 

 

	
  LTMAC
  Properties LLC

  	
   

  	
  1000
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2850
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2828
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1045
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1122
  Manunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2810
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2886
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1052
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1024
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1030
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  733
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  812
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2969
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2839
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2861
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2831
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2814
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2804
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  692
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  669
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2857
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2812
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  819
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2831
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  673
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2827
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  633
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  789
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2808
  Kam Hwy

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2815
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2821
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2829
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  140
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2106
  Kaliawa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2122
  Kaliawa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  151
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  204
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2810
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  944
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  

 

 

	
  Masters
  Properties LLC

  	
   

  	
  918
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  1050
  Kikowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  949
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2850
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  905
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  1062
  Kikowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2829
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2841
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2819
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  1024
  Kilowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2840
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2830
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2635
  Waiwai Loop A

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Masters
  Properties LLC

  	
   

  	
  2635
  Waiwai Loop B

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  MOB
  Realty Trust

  	
   

  	
  340
  Thompson Road

  	
   

  	
  Webster

  	
   

  	
  MA

  
	
  Nine
  Penn Center Associates, L.P.

  	
   

  	
  1735
  Market Street

  	
   

  	
  Philadelphia

  	
   

  	
  PA

  
	
  Orville
  Properties LLC

  	
   

  	
  2344
  Pahounui Dr

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Orville
  Properties LLC

  	
   

  	
  238
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Orville
  Properties LLC

  	
   

  	
  2308
  Pahounui Dr

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Orville
  Properties LLC

  	
   

  	
  2264
  Pahounui Dr

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Orville
  Properties LLC

  	
   

  	
  2276
  Pahounui Dr

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Orville
  Properties LLC

  	
   

  	
  228
  Mohonua Pl

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Orville
  Properties LLC

  	
   

  	
  214
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Orville
  Properties LLC

  	
   

  	
  120
  Sand Island Access Rd.

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Oscar
  Properties Trust

  	
   

  	
  785
  Schilinger Road South

  	
   

  	
  Mobile

  	
   

  	
  AL

  
	
  Oscar
  Properties Trust

  	
   

  	
  401
  Vine Street

  	
   

  	
  Delmont

  	
   

  	
  PA

  
	
  Oscar
  Properties Trust

  	
   

  	
  3003
  South Expressway 281

  	
   

  	
  Edinburg

  	
   

  	
  TX

  
	
  Oscar
  Properties Trust

  	
   

  	
  9840
  Gateway Blvd North

  	
   

  	
  El
  Paso

  	
   

  	
  TX

  
	
  Oscar
  Properties Trust

  	
   

  	
  633
  Frazier Drive

  	
   

  	
  Franklin

  	
   

  	
  TN

  
	
  Oscar
  Properties Trust

  	
   

  	
  1331
  North Center Parkway

  	
   

  	
  Kennewick

  	
   

  	
  WA

  
	
  Park
  San Antonio Properties Trust

  	
   

  	
  812
  San Antonio Park

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Putnam
  Place Realty Trust

  	
   

  	
  One
  Adams Place

  	
   

  	
  Quincy

  	
   

  	
  MA

  
	
  Putnam
  Place Realty Trust

  	
   

  	
  Two
  Adams Place

  	
   

  	
  Quincy

  	
   

  	
  MA

  
	
  Quarry
  Lake Properties Trust

  	
   

  	
  4545
  Seton Center Parkway

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  Research
  Park Properties Trust

  	
   

  	
  12501
  Research Park

  	
   

  	
  Austin

  	
   

  	
  TX

  
	
  RFRI
  Properties LLC

  	
   

  	
  848
  Ala Lilikoi Blvd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  RFRI
  Properties LLC

  	
   

  	
  846
  Ala Lilikoi Blvd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Ridge
  Lake Properties LLC

  	
   

  	
  775
  Ridge Lake Blvd

  	
   

  	
  Memphis

  	
   

  	
  TN

  
	
  Ridge
  Lake Properties LLC

  	
   

  	
  6060
  Primacy Parkway

  	
   

  	
  Memphis

  	
   

  	
  TN

  

 

 

	
  Robin
  1 Properties LLC

  	
   

  	
  2815
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  609
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2849
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2915
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  619
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2847
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  659
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2760
  Kam Hwy

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  645
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  675
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2816
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2829
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2836
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  148
  Mokauea St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2135
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  218
  Mohonua Pl

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  180
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2250
  Pahounui Dr

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  158
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Robin
  1 Properties LLC

  	
   

  	
  228
  Mohonua Pl

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Rosedale
  Properties LLC

  	
   

  	
  2200
  Country Road CW

  	
   

  	
  Roseville

  	
   

  	
  MN

  
	
  Rosedale
  Properties LLC

  	
   

  	
  2665
  Long Lake Road

  	
   

  	
  Roseville

  	
   

  	
  MN

  
	
  Rosedale
  Properties LLC

  	
   

  	
  2675
  Long Lake Road

  	
   

  	
  Roseville

  	
   

  	
  MN

  
	
  Rosedale
  Properties LLC

  	
   

  	
  2685
  Long Lake Road

  	
   

  	
  Roseville

  	
   

  	
  MN

  
	
  Tanaka
  Properties LLC

  	
   

  	
  113
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2140
  Kaliawa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  165
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2020
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2103
  Kaliawa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  1926
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  1391
  Kahai St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  125
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  207
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  125
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  125B
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2001
  Kahai St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2110
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  142
  Mokauea St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2139
  Kaliawa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  

 

 

	
  Tanaka
  Properties LLC

  	
   

  	
  2127
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2144
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  179
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  106
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  120
  Mokauea St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  120B
  Mokauea St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  231
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  231B
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  220
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  150
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  197
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2019
  Kahai St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TedCal
  Properties LLC

  	
   

  	
  1360
  Pali Hwy (Safeway)

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TedCal
  Properties LLC

  	
   

  	
  1360
  Pali Hwy (Longs)

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TedCal
  Properties LLC

  	
   

  	
  33
  S. Vineyard Blvd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  709
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2839
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2906
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2850
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2864
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2806
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2838
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  852
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  855
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2855
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  865
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  719
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  759
  Puuloa Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  770
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  704
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  822
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  842
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2829
  Kaihikapu St - A

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2928
  Kaihikapu St - B

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  850
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2965
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2833
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  761
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  702
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  

 

 

	
  TSM
  Properties LLC

  	
   

  	
  2858
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2809
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  803
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2889
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  830
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2846-A
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  697
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  808
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  659
  Puuloa Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  667
  Puuloa Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  679
  Puuloa Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  689
  Puuloa Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2826
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  685
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2844
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2819
  Mokumoa St - A

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2819
  Mokumoa St - B

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2879
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  851
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  855
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  766
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2908
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  729
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  739
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2868
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  660
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2869
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  TSM
  Properties LLC

  	
   

  	
  2850
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  1001
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  2864
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  2855
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  2856
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  1150
  Kikowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  960
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  950
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  960
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  930
  Manunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  1038
  Kilowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  910
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  

 

 

	
  Z&A
  Properties LLC

  	
   

  	
  970
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  1027
  Kikowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  
	
  Z&A
  Properties LLC

  	
   

  	
  2960
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  

 

 

SCHEDULE 6.1(f)

 

Title To Properties; Liens

 

Part II
(Permitted Liens)

 

1.             Fee and Leasehold Mortgage,
Assignment of Leases and Rents and Security Agreement, dated as of October 1,
2002, made by Hub Corporate Crossing, LLC, as successor to Sully’s Trail Corporate
Park II, LLC and the County of Monroe Industrial Development Agency, for the
benefit of LaSalle Bank National Association, as Trustee for the Registered
Holders of LB-UBS Commercial Mortgage Trust 2002-C7, Commercial Mortgage
Pass-Through Certificates, Series 2002-C7, as successor to UBS Warburg
Real Estate Investments, Inc. 
(Secured)

 

2.             Assignment of Leases and
Rents, dated as of October 1, 2002, made by Hub Corporate Crossing, LLC,
as successor to Sully’s Trail Corporate Park II, LLC and the County of Monroe
Industrial Development Agency, for the benefit of LaSalle Bank National
Association, as Trustee for the Registered Holders of LB-UBS Commercial
Mortgage Trust 2002-C7, Commercial Mortgage Pass-Through Certificates, Series 2002-C7,
as successor to UBS Warburg Real Estate Investments, Inc.  (Secured)

 

3.             Loan Assumption and
Reaffirmation Agreement, dated as of November 30, 2004, by and among Hub
Corporate Crossing, LLC, as Assuming Borrower, Hub Properties Trust, as
Assuming Indemnitor, Sully’s Trail Corporate Park II, LLC and the County of
Monroe Industrial Development Agency, and David F. Christa, as Original
Indemnitor, in favor of LaSalle Bank National Association, as Trusteed for the
Registered Holders of LB-UBS Commercial Mortgage Trust 2002-C7, Commercial
Mortgage Pass-Through Certificates, Series 2002-C7, as successor to UBS
Warburg Real Estate Investments, Inc. 
(Secured)

 

1200 Lakeside Drive,
Bannockburn, IL — Hub Mid-West LLC (Assumed December 29, 2005)

 

4.             Loan Agreement dated as of May 11,
2000, between Hub Mid-West LLC, as successor to Prentiss Properties Acquisition
Partners, L.P., and Jackson National Life Insurance Company.

 

5.             Mortgage, Security Agreement
and Financing Statement, dated as of May 11, 2000, from Hub Mid-West LLC,
as successor to Prentiss Properties Acquisition Partners, L.P., to Jackson
National Life Insurance Company.

 

6.             Assignment of Leases and
Rents, dated as of May 11, 2000, from Hub Mid-West LLC, as successor to
Prentiss Properties Acquisition Partners, L.P., to Jackson National Life
Insurance Company.

 

 

7.             Assumption Agreement, dated
as of December 29, 2005, by and among Prentiss Properties Acquisition
Partners, L.P., Hub Mid-West LLC, Hub Properties Trust and Jackson National
Life Insurance Company.

 

3920 Arkwright Road, Highridge Center, Macon, GA —
Hub Highridge, LLC (Assumed April 28, 2006)

 

8.             Deed to Secure Debt,
Assignment of Leases and Rents and Security Agreement, dated as of April 22,
2004, made by Hub Highridge, LLC, as successor to Macon Highridge Property I,
LLC, in favor of LaSalle Bank National Association, as Trustee for the
Registered Holders of Wachovia Bank Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates, Series 2004-C12, as successor to
Citigroup Global Markets Realty Corp., as Lender.  (Secured)

 

9.             Assignment of Leases and
Rents, dated as of April 22, 2004, made by Hub Highridge, LLC, as
successor to Macon Highridge Property I, LLC, in favor of LaSalle Bank National
Association, as Trustee for the Registered Holders of Wachovia Bank Commercial
Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2004-C12,
as successor to Citigroup Global Markets Realty Corp., as Lender.  (Secured)

 

10.           Loan Assumption and
Substitution Agreement, dated as of April 28, 2006, made by Hub Highridge,
LLC, as successor to Macon Highridge Property I, LLC, as Borrower, Hub
Properties Trust and Hub Highridge Properties Trust, as successors to Kevin D.
Cogan, as Indemnitor, in favor of LaSalle Bank National Association, as Trustee
for the registered holders of Wachovia Bank Commercial Mortgage Trust,
Commercial Mortgage Pass-Through Certificates, Series 2004-C12.  (Secured)

 

33 Stiles Lane, North Haven, CT — BD 33 Stiles Lane
Property, LLC (Assumed October 24, 2006)

 

11.           Open-End Mortgage, Security
Agreement and Fixture Filing, dated as of February 12, 2002, made by BD 33
Stiles Lane Property LLC, as successor to WE 33 Stiles Lane, L.L.C., as
Borrower, in favor of Metropolitan Life Insurance Company, as Lender.  (Secured)

 

12.           Assignment of Leases and
Rents, dated as of February 12, 2002, made by BD 33 Stiles Lane Property
LLC, as successor to WE 33 Stiles Lane, L.L.C., as Borrower, in favor of
Metropolitan Life Insurance Company, as Lender. 
(Secured)

 

13.           Assignment, Assumption and
Modification Agreement, dated as of October 24, 2006 by and among WE 33
Stiles Lane, L.L.C., as Borrower, BD 33 Stiles Lane Property, LLC, as
Transferee, and Metropolitan Life Insurance Company, as Lender.  (Secured)

 

97 Newberry Road, East Windsor, CT — Blue Dog
Properties Trust (Assumed October 24, 2006)

 

 

14.           Open-End Mortgage, Fixture
Filing, Financing Statement and Assignment of Leases and Rents, dated February 7,
2006, made by Blue Dog Properties Trust, as successor to WE 97 Newberry Trust,
as Borrower, in favor of American General Life and Accident Insurance Company,
as Lender.  (Secured)

 

15.           Amendment to Open-End
Mortgage, Fixture Filing, Financing Statement and Assignment of Leases and
Rents, dated February 8, 2006, made by Blue Dog Properties Trust, as
successor to WE 97 Newberry LLC, as Borrower, in favor of American General Life
and Accident Insurance Company, as Lender. 
(Secured)

 

16.           Loan Assumption and
Modification Agreement, dated as of October 24, 2006 by and among WE 97
Newbury LLC, as Borrower, Blue Dog Properties Trust, as Assumptor, HRPT
Properties Trust as Principal, and American General Life and Accident Insurance
Company as Lender.  (Secured)

 

111 East Kilbourn Avenue, Milwaukee, WI — Hub
Milwaukee Center Properties Trust LLC (Assumed June 12, 2008)

 

17.           Loan Agreement, dated as of June 1,
2001, by and among Hub Milwaukee Center Properties LLC, as successor to GLR
Milwaukee Center, LLC, as Borrower, HRPT Properties Trust, as successor to
Transwestern Great Lakes LP, f/k/a Great Lakes REIT, as Borrower Principal, and
Wells Fargo Bank, N.A., as Trustee for the Registered Holders of Banc of
America Commercial Mortgage, Inc., Commercial Mortgage Pass-Through
Certificates Series 2001-PB1, as successor to Bank of America, N.A., as
Lender.  (Secured)

 

18.           Mortgage, Assignment of
Leases and Rents, Security Agreement and Fixture Filing, dated as of June 1,
2001, made by Hub Milwaukee Center Properties LLC, as successor to GLR
Milwaukee Center, LLC, as Borrower, in favor of Wells Fargo Bank, N.A., as
Trustee for the Registered Holders of Banc of America Commercial Mortgage, Inc.,
Commercial Mortgage Pass-Through Certificates Series 2001-PB1, as
successor to Bank of America, N.A., as Lender. 
(Secured)

 

19.           Loan Assumption and Consent
Agreement, dated as June 12, 2008, made by GLR Milwaukee Center, LLC, as
Prior Owner, Transwestern Great Lakes LP, f/k/a Great Lakes REIT, as Prior
Guarantor, Hub Milwaukee Center Properties LLC, as Borrower, HRPT Properties
Trust, as New Guarantor, and Wells Fargo Bank, N.A., as Trustee for the
Registered Holders of Banc of America Commercial Mortgage, Inc.,
Commercial Mortgage Pass-Through Certificates Series 2001-PB1, as
successor to Bank of America, N.A., as Lender. 
(Secured)

 

16025 — 16105 West 113th Street, Lenexa, KS, Ecoworks I & II —
HRPT Lenexa Properties Trust (Assumed July 16, 2008)

 

 

20.           Mortgage and Security
Agreement, dated as of April 11, 2006, made by HRPT Lenexa Properties
Trust, as successor to Lenexa Industrial Park, Inc., as Borrower, in favor
of State Farm Life Insurance Company, as Lender.  (Secured)

 

21.           Assignment of Leases and
Rents, dated as of April 11, 2006, made by HRPT Lenexa Properties Trust,
as successor to Lenexa Industrial Park, Inc., as Borrower, in favor of
State Farm Life Insurance Company, as Lender. 
(Secured)

 

22.           First Modification
Agreement, dated as of July 17, 2008, by and among State Farm Life
Insurance Company, Lenexa Industrial Park, Inc. and HRPT Lenexa Properties
Trust.  (Secured)

 

2501
20th Place South, The Colonial Bank Building,
Birmingham, AL — Hub Properties Trust (Assumed December 27, 2006)

 

23.           Amended and Restated
Mortgage and Security Agreement, dated as of July 24, 2001, made by Hub
Properties Trust, as successor to Shades Valley LLC, as Mortgagor, in favor of
American General Life Insurance, as Lender. 
(Secured)

 

24.           Absolute Assignment of
Leases and Rents, dated as of July 24, 2001, made by Hub Properties Trust,
as successor to Shades Valley LLC, as Mortgagor, in favor of American General
Life Insurance, as Lender.  (Secured)

 

25.           Assumption, Consent and Loan
Modification Agreement, dated as of December 27, 2006, by and among Shades
Valley LLC, as Original Borrower, The Estate of Robert E. Reed, E. Todd Sharley, Jr.,
Robert A. Schleusner, W. Carlton Rhodes, collectively as Original Guarantor,
Hub Properties Trust, as Borrower, HRPT Properties Trust, as Guarantor, and
American General Life Insurance Company, as Lender.  (Secured)

 

18705, 18715, and 18735 Madrone Parkway, Morgan
Hill, CA — Hub Madrone Properties LLC (Assumed November 7, 2008)

 

26.           Deed of Trust, Financing
Statement, Fixture Filing and Security Agreement with Assignment of Rents,
dated as of October 24, 2002, made by Hub Madrone Properties LLC, as
successor to TBI-Mission West, LLC, as Trustor, to First American Title
Insurance Company, as Trustee, for the benefit of Thrivent Financial For
Lutherans, as Beneficiary.  (Secured)

 

27.           Assignment of Rents and
Leases, dated as of October 24, 2002, made by Hub Madrone Properties LLC,
as successor to TBI-Mission West, LLC, in favor of Thrivent Financial For
Lutherans.  (Secured)

 

28.           Consent, Assumption and
Modification Agreement, dated as of November 7, 2008, by and among
TBI-Mission West, LLC, Hub Madrone Properties LLC and Thrivent Financial For
Lutherans.  (Secured)

 

 

29.           Deed of Trust, Security
Agreement and Fixture Filing with Assignment of Rents and Proceeds, dated as of
December 27, 2007, made by Hub Madrone Properties LLC, as successor to
TBI-Mission West, LLC, as Trustor, to First American Title Company, as Trustee,
for the benefit of The Prudential Insurance Company of America, as
Beneficiary.  (Secured)

 

30.           Assignment of Lessor’s
Interest in Leases, dated as of December 27, 2007, made by Hub Madrone
Properties LLC, as successor to TBI-Mission West, LLC in favor of The
Prudential Insurance Company of America, as Beneficiary.  (Secured)

 

31.           Consent, Assumption of
Liability and Modification Agreement, dated as of November 7, 2008, by and
among TBI-Mission West, LLC, Hub Madrone Properties LLC and The Prudential
Insurance Company of America.  (Secured)

 

225 Water Street, Jacksonville, FL — Hub OEC
Properties LLC (Assumed November 24, 2008)

 

32.           Note and Mortgage
Modification Agreement Evidencing Renewal Promissory Note Including Future
Advance and Amended and Restate Mortgage, Security Agreement and Fixture
Filing, dated as of May 10, 2006, made by Hub OEC Properties LLC, as
successor to One Enterprise Financial Associates, LLC and Sendar Jacksonville
(ENTERPRISE) LLC, as Borrower, in favor of Wells Fargo Bank, N.A., as trustee
for the registered holders of Wachovia Bank Commercial Mortgage Trust,
Commercial Mortgage Pass-Through Certificates, Series 2006-C26, as
successor to Wachovia Bank, National Association, as Lender.  (Secured)

 

33.           Assignment of Leases and
Rents, dated as of May 10, 2006, made by Hub OEC Properties LLC, as
successor to One Enterprise Financial Associates, LLC and Sendar Jacksonville
(ENTERPRISE) LLC, as Borrower, in favor of Wells Fargo Bank, N.A., as Trustee
for the registered holders of Wachovia Bank Commercial Mortgage Trust,
Commercial Mortgage Pass-Through Certificates, Series 2006-C26, as
successor to Wachovia Bank, National Association, as Lender.  (Secured)

 

34.           Assignment of Warranties and
Other Contract Right, dated as of May 10, 2006, made by Hub OEC Properties
LLC, as successor to One Enterprise Financial Associates, LLC and Sendar
Jacksonville (ENTERPRISE) LLC, as Borrower, in favor of Wells Fargo Bank, N.A.,
as Trustee for the registered holders of Wachovia Bank Commercial Mortgage
Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C26, as
successor to Wachovia Bank, National Association, as Lender.  (Secured)

 

 

35.           Loan Assumption,
Substitution and Modification Agreement, dated as of November 24, 2008, by
and among Hub OEC Properties LLC, HRPT Properties Trust, One Enterprise
Financial Associates, LLC, Sendar Jacksonville (ENTERPRISE) LLC, HGGP Capital
II, LLC, Sendar Development Co. LLC and Wells Fargo Bank, N.A., as Trustee for
the registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates, Series 2006-C26, as successor to
Wachovia Bank, National Association. 
(Secured)

 

6200 Glenn Carlson Drive, St. Cloud, MN — Blue Dog
Properties Trust (Assumed October 15, 2009)

 

36.           Mortgage, Security
Agreement, Assignment of Leases and Rents, and Fixture Filing, dated as of January 13,
2005, made by Blue Dog Properties Trust, as successor to OLP ST. CLOUD LLC, as
Borrower, and GE Commercial Finance Business Property Corporation, as
Mortgagee.  (Secured)

 

37.           Assignment of Rents and
Leases, dated as of January 13, 2005, made by Blue Dog Properties Trust,
as successor to OLP ST. CLOUD LLC, in favor of GE Commercial Finance Business
Property Corporation (Secured)

 

38.           Security Agreement, dated as
of January 13, 2005, made by made by Blue Dog Properties Trust, as
successor to OLP ST. CLOUD LLC, in favor of GE Commercial Finance Business
Property Corporation (Secured)

 

39.           Loan Modification Agreement,
dated as of April 4, 2006, between Blue Dog Properties Trust, as successor
to OLP ST. CLOUD LLC, and GE Commercial Finance Business Property
Corporation.  (Secured)

 

40.           Second Loan Modification
Agreement, dated as of October 15, 2009, by and among Blue Dog Properties
Trust, OLP ST. CLOUD LLC and GE Commercial Finance Business Property
Corporation.  (Secured)

 

1735 Market Street, Philadelphia, PA — Nine Penn
Center Associates, L.P.  (Financed December 3,
2009)

 

41.           Loan Agreement, dated as of December 1,
2009 and effective December 3, 2009, among Nine Penn Center Associates,
L.P., as Borrower, PB (USA) Realty Corporation and Immobilienbank AG, as
Lenders, and PB Capital Corporation, as Administrative Agent.  (Secured)

 

42.           Open-End Mortgage, Security
Agreement and Fixture Filing, dated as of December 1, 2009 and effective
as of December 3, 2009, made by Nine Penn Center Associates, L.P., as
Borrower, in favor of PB Capital Corporation, as Administrative Agent.  (Secured)

 

 

43.           Assignment of Leases and
Rents, dated as of December 1, 2009 and effective as of December 3,
2009, made by Nine Penn Center Associates, L.P., as Borrower, in favor of PB
Capital Corporation, as Administrative Agent. 
(Secured)

 

 

SCHEDULE 6.1(g)(1)

 

Indebtedness and Guaranties

 

1.             Indenture, dated July 9,
1997, by and between the Borrower and U.S. Bank National Association, as
successor to State Street Bank and Trust Company, as Trustee.

 

2.             Supplemental Indenture No.
8, dated as of July 31, 2000, by and between the Borrower and U.S. Bank
National Association, as successor to State Street Bank and Trust Company, as
Trustee, relating to 8.875% Senior Notes due 2010. (Unsecured) ($30,000,000)

 

3.             Supplemental Indenture No.
9, dated as of September 29, 2000, by and between the Borrower and U.S. Bank
National Association, as successor to State Street Bank and Trust Company, as
Trustee, relating to 8.625% Senior Notes due 2010. (Unsecured) ($20,000,000)

 

4.             Supplemental Indenture No.
10, dated as of April 10, 2002, by and between the Borrower and U.S. Bank
National Association, as successor to State Street Bank and Trust Company, as
Trustee, relating to 6.95% Senior Notes due 2012. (Unsecured) ($150,680,000)

 

5.             Supplemental Indenture No.
11, dated as of December 6, 2002, by and between the Borrower and U.S. Bank
National Association, as successor to State Street Bank and Trust Company, as
Trustee, relating to 6.50% Senior Notes due 2013. (Unsecured) ($190,980,000)

 

6.             Supplemental
Indenture No. 12, dated as of January 30, 2003, by and between the Borrower and
U.S. Bank National Association, as Trustee, relating to 6.40% Senior Notes due
2015. (Unsecured) ($186,000,000)

 

7.             Supplemental
Indenture No. 13, dated as of October 30, 2003, by and between the
Borrower and U.S. Bank National Association, as Trustee, relating to 5.75%
Senior Notes due 2014. (Unsecured) ($244,655,000)

 

8.             Supplemental Indenture No.
14, dated as of August 5, 2004, by and between the Borrower and U.S. Bank
National Association, as Trustee, relating to 6 1⁄4% Senior Notes due 2016.
(Unsecured) ($400,000,000)

 

9.             Supplemental Indenture No.
15, dated as of October 31, 2005, by and between the Borrower and U.S. Bank
National Association, as Trustee, relating to 5.75% Senior Notes due 2015.
(Unsecured) ($250,000,000)

 

(1)   Amounts stated in Schedule 6.1(g) represent
the unpaid principal balance as of June 30, 2010.

 

 

10.           Supplemental Indenture No.
16, dated as of March 16, 2006, by and between the Borrower and U.S. Bank National
Association, as Trustee, including the form of Floating Rate Senior Note due
2011. (Unsecured) ($168,219,000)

 

11.           Supplemental Indenture No.
17, dated as of June 25, 2007, by and between the Borrower and U.S. Bank
National Association, as Trustee, relating to 6.25% Senior Notes due 2017.
(Unsecured) ($250,000,000)

 

12.           Supplemental Indenture No.
18. dated as of September 18, 2007, by and between the Borrower and U.S. Bank
National Association, as Trustee, relating to 6.65% Senior Notes due 2018. (Unsecured)
($250,000,000)

 

13.           Supplemental Indenture No.
19, dated as of November 25, 2009, by and between the Borrower and U.S. Bank
National Association, as Trustee, relating to 7.50% Senior Notes due 2019.
(Unsecured) ($125,000,000)

 

179 & 183 Sully’s Trail, Pittsford, NY — Hub
Corporate Crossing, LLC (Assumed November 30, 2004)

 

14.           Mortgage Note, dated as of
October 1, 2002, made by Hub Corporate Crossing, LLC, as successor to Sully’s
Trail Corporate Park II, LLC, for the benefit of LaSalle Bank National
Association, as successor to UBS Warburg Real Estate Investments, Inc.
(Secured) ($4,871,188)

 

15.           Fee and Leasehold Mortgage,
Assignment of Leases and Rents and Security Agreement, dated as of October 1,
2002, made by Hub Corporate Crossing, LLC, as successor to Sully’s Trail
Corporate Park II, LLC and the County of Monroe Industrial Development Agency,
for the benefit of LaSalle Bank National Association, as Trustee for the
Registered Holders of LB UBS Commercial Mortgage Trust 2002-C7, Commercial
Mortgage Pass-Through Certificates, Series 2002-C7, as successor to UBS Warburg
Real Estate Investments, Inc. (Secured) ($4,871,188)

 

16.           Allonge to Note, dated as of
November 30, 2004, made by Hub Corporate Crossing, LLC, as Assuming Borrower,
Hub Properties Trust, as Assuming Indemnitor, Sully’s Trail Corporate Park II,
LLC and the County of Monroe Industrial Development Agency, and David F.
Christa, as Original Indemnitor, in favor of LaSalle Bank National Association,
as Trustee for the Registered Holders of LB-UBS Commercial Mortgage Trust
2002-C7, Commercial Mortgage Pass-Through Certificates, Series 2002-C7, as
successor to UBS Warburg Real Estate Investments, Inc.  (Secured) ($4,871,188)

 

 

17.           Loan Assumption and
Reaffirmation Agreement, dated as of November 30, 2004, by and among Hub
Corporate Crossing, LLC, as Assuming Borrower, Hub Properties Trust, as
Assuming Indemnitor, Sully’s Trail Corporate Park II, LLC and the County of
Monroe Industrial Development Agency, and David F. Christa, as Original Indemnitor,
in favor of LaSalle Bank National Association, as Trustee for the Registered
Holders of LB-UBS Commercial Mortgage Trust 2002-C7, Commercial Mortgage
Pass-Through Certificates, Series 2002-C7, as successor to UBS Warburg Real
Estate Investments, Inc.  (Secured)
($4,871,188)

 

1200 Lakeside Drive, Bannockburn, IL — Hub Mid-West
LLC (Assumed December 29, 2005)

 

18.           Loan Agreement dated as of
May 11, 2000, between Hub Mid-West LLC, as successor to Prentiss Properties
Acquisition Partners, L.P., and Jackson National Life Insurance Company.  (Secured) ($23,710,260)

 

19.           Mortgage, Security Agreement
and Financing Statement, dated as of May 11, 2000, from Hub Mid-West LLC, as
successor to Prentiss Properties Acquisition Partners, L.P., to Jackson
National Life Insurance Company. 
(Secured) ($23,710,260)

 

20.           Assignment of Leases and
Rents, dated as of May 11, 2000, from Hub Mid-West LLC, as successor to
Prentiss Properties Acquisition Partners, L.P., to Jackson National Life
Insurance Company.  (Secured) ($23,710,260)

 

21.           Assumption Agreement, dated
as of December 29, 2005, by and among Prentiss Properties Acquisition Partners,
L.P., Hub Mid-West LLC, Hub Properties Trust and Jackson National Life
Insurance Company.  (Secured) ($23,710,260)

 

3920
Arkwright Road, Highridge Center, Macon, GA — Hub Highridge, LLC (Assumed April
28, 2006)

 

22.           Fixed Rate Note, dated as of
April 22, 2004, made by Hub Highridge, LLC, as successor to Macon Highridge
Property I, LLC, as Borrower, in favor of LaSalle Bank National Association, as
Trustee for the Registered Holders of Wachovia Bank Commercial Mortgage Trust,
Commercial Mortgage Pass-Through Certificates, Series 2004-C12, as successor to
Citigroup Global Markets Realty Corp., as Lender.  (Secured) ($13,077,150)

 

23.           Deed to Secure Debt,
Assignment of Leases and Rents and Security Agreement, dated as of April 22,
2004, made by Hub Highridge, LLC, as successor to Macon Highridge Property I,
LLC, in favor of LaSalle Bank National Association, as Trustee for the
Registered Holders of Wachovia Bank Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates, Series 2004-C12, as successor to Citigroup
Global Markets Realty Corp., as Lender. (Secured) ($13,077,150)

 

 

24.           Guaranty, dated as of April
22, 2004, made by Hub Properties Trust and Hub Highridge Properties Trust, as
successors to Kevin D. Cogan, in favor of LaSalle Bank National Association, as
Trustee for the Registered Holders of Wachovia Bank Commercial Mortgage Trust,
Commercial Mortgage Pass-Through Certificates, Series 2004-C12, as successor to
Citigroup Global Markets Realty Corp., as Lender.  (Secured) ($13,077,150)

 

25.           Loan Assumption and
Substitution Agreement, dated as of April 28, 2006, made by Hub Highridge, LLC,
as successor to Macon Highridge Property I, LLC, as Borrower,  Hub Properties Trust and Hub Highridge
Properties Trust, as successors to Kevin D. Cogan, as Indemnitor, in favor of
LaSalle Bank National Association, as Trustee for the registered holders of
Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through
Certificates, Series 2004-C12.  (Secured)
($13,077,150)

 

26.           Allonge to Note, dated as of
April 28, 2008, from Hub Highridge, LLC in favor of LaSalle Bank National
Association, as Trustee for the registered holders of Wachovia Bank Commercial
Mortgage Trust, Mortgage Pass-Through Certificates, Series 2004-C12.  (Secured) ($13,077,150)

 

33
Stiles Lane, North Haven, CT — BD 33 Stiles Lane Property, LLC (Assumed October
24, 2006)

 

27.           Promissory Note, dated as of
February 12, 2002, made by BD 33 Stiles Lane Property, LLC, as successor to WE
33 Stiles Lane, L.L.C., as Borrower, in favor of Metropolitan Insurance
Company, as Lender.  (Secured)
($4,432,940)

 

28.           Open-End Mortgage,  Security Agreement and Fixture Filing, dated
as of February 12, 2002, made by BD 33 Stiles Lane Property LLC, as successor
to WE 33 Stiles Lane, L.L.C., as Borrower, in favor of Metropolitan Insurance
Company, as Lender.  (Secured)
($4,432,940)

 

29.           Assignment, Assumption and
Modification Agreement, dated as of October 24, 2006 by and among WE 33 Stiles
Lane, L.L.C., as Borrower, BD 33 Stiles Lane Property, LLC, as Transferee, and
Metropolitan Life Insurance Company, as Lender. (Secured) ($4,432,940)

 

30.           Guaranty, dated as of
February 12, 2002, made by HRPT Properties Trust and Winstanley Enterprises
LLC, as Guarantors, in favor of Metropolitan Life Insurance Company, as
Lender.  (Secured) ($4,432,940)

 

31.           Amendment and Confirmation
of Guaranty, dated as of October 24, 2006, made by Winstanley Enterprises, LLC
and HRPT Properties Trust, as Guarantor and Additional Guarantor respectively,
in favor of Metropolitan Life Insurance Company, as Lender.  (Secured) ($4,432,940)

 

 

32.           Guaranty Agreement, dated as
of October 24, 2006, made by HRPT Properties Trust, as New Guarantor, in favor
of Metropolitan Life Insurance Company, as Lender.  (Secured) ($4,432,940)

 

97
Newberry Road, East Windsor, CT — Blue Dog Properties Trust (Assumed October
24, 2006)

 

33.           Promissory Note, dated
February 7, 2006, made by Blue Dog Properties Trust, as successor to WE 97
Newberry LLC, as Borrower, in favor of American General Life and Accident
Insurance Company, as Lender.  (Secured)
($8,536,476)

 

34.           Open-End Mortgage, Fixture
Filing, Financing Statement and Assignment of Leases and Rents, dated February
7, 2006, made by Blue Dog Properties Trust, as successor to WE 97 Newberry
Trust, as Borrower, in favor of American General Life and Accident Insurance
Company, as Lender.  (Secured)
($8,536,476)

 

35.           Guaranty Agreement, dated as
of February 7, 2006, made by HRPT Properties Trust, as successor to Winstanley
Enterprises LLC, in favor of American General Life and Accident Insurance
Company, as Lender.  (Secured)
($8,536,476)

 

36.           Amendment to Open-End
Mortgage Fixture Filing, Financing Statement and Assignment of Leases and
Rents, dated February 8, 2006, made by Blue Dog Properties Trust, as successor
to WE 97 Newberry LLC, as Borrower, in favor of American General Life and
Accident Insurance Company, as Lender. 
(Secured) ($8,536,476)

 

37.           Loan Assumption and
Modification Agreement, dated as of October 24, 2006 by and among WE 97 Newbury
LLC, as Borrower, Blue Dog Properties Trust, as Assumptor, HRPT Properties
Trust, as Principal, and American General Life and Accident Insurance Company,
as Lender.  (Secured) ($8,536,476)

 

38.           Guaranty Agreement, dated as
of October 24, 2006, made by HRPT Properties Trust, as Borrower, in favor of
American General Life and Accident Insurance, as Lender.  (Secured) ($8,536,476)

 

111
East Kilbourn Avenue, Milwaukee, WI — Hub Milwaukee Center Properties LLC
(Assumed June 12, 2008)

 

39.           Promissory Note, dated as of
June 1, 2001, made by Hub Milwaukee Center Properties, LLC, as successor to GLR
Milwaukee Center, LLC, as Borrower, in favor of Bank of America, N.A., as
Lender.  (Secured) ($29,680,657)

 

 

40.           Loan Agreement, dated as of
June 1, 2001, by and among Hub Milwaukee Center Properties, LLC, as successor
to GLR Milwaukee Center, LLC, as Borrower, HRPT Properties Trust, as successor
to Transwestern Great Lakes LP, f/k/a Great Lakes REIT, as Borrower Principal,
and Wells Fargo Bank, N.A., as Trustee for the Registered Holders of Banc of
America Commercial Mortgage, Inc., Commercial Mortgage Pass-Through
Certificates Series 2001-PB1, as successor to Bank of America, N.A., as
Lender.  (Secured) ($29,680,657)

 

41.           Mortgage, Assignment of
Leases and Rents, Security Agreement and Fixture Filing, dated as of June 1,
2001, made by Hub Milwaukee Center Properties, LLC, as successor to GLR
Milwaukee Center, LLC, as Borrower, in favor of Wells Fargo Bank, N.A., as
Trustee for the Registered Holders of Banc of America Commercial Mortgage,
Inc., Commercial Mortgage Pass-Through Certificates Series 2001-PB1, as
Lender.  (Secured) ($29,680,657)

 

42.           Loan Assumption and Consent
Agreement, dated as of June 12, 2008, made by GLR Milwaukee Center, LLC, as
Prior Owner, Transwestern Great Lakes LP, f/k/a Great Lakes REIT, as Prior
Guarantor, Hub Milwaukee Center Properties LLC, as Borrower, HRPT Properties
Trust, as New Guarantor, and Wells Fargo Bank, N.A., as Trustee for the
Registered Holders of Banc of America Commercial Mortgage, Inc., Commercial
Mortgage Pass-Through Certificates Series 2001-PB1, as Lender.(Secured)
($29,680,657)

 

16025 — 16105 West 113th Street, Lenexa, KS, Ecoworks I & II — HRPT
Lenexa Properties Trust (Assumed July 16, 2008)

 

43.           Promissory Note, dated as of
April 11, 2006, made by HRPT Lenexa Properties Trust, as successor to Lenexa
Industrial Park, Inc., as Borrower, in favor of State Farm Life Insurance
Company, as Lender.  (Secured)
($8,334,647)

 

44.           Mortgage and Security
Agreement, dated as of April 11, 2006, made by and among HRPT Lenexa Properties
Trust, as successor to Lenexa Industrial Park, Inc., as Borrower, in favor of
State Farm Life Insurance Company, as Lender. 
(Secured) ($8,334,647)

 

45.           First Modification
Agreement, dated as of July 17, 2008, by HRPT Lenexa Properties Trust, as New
Borrower, Lenexa Industrial Park, Inc., as Original Borrower, and State Farm
Life Insurance Company, as Lender. 
(Secured) ($8,334,647)

 

2501
20th Place South, The Colonial Bank Building,
Birmingham, AL — Hub Properties Trust (Assumed December 27, 2006)

 

46.           Amended and Restated
Promissory Note, dated as of July 24, 2001, made by Hub Properties Trust, as
successor to Shades Valley LLC, to American General Life Insurance
Company.  (Secured) ($12,400,433)

 

 

47.           Amended and Restated
Mortgage and Security Agreement, dated as of July 24, 2001, made by Hub
Properties Trust, as successor to Shades Valley LLC, as Mortgagor, in favor of
American General Life Insurance, as Lender. 
(Secured) ($12,400,433)

 

48.           Assumption, Consent and Loan
Modification Agreement, dated as of December 27, 2006, by and among Shades
Valley LLC, as Original Borrower, The Estate of Robert E. Reed, E. Todd
Sharley, Jr., Robert A. Schleusner, W. Carlton Rhodes, collectively as Original
Guarantor, Hub Properties Trust, as Borrower, HRPT Properties Trust, as
Guarantor, and American General Life Insurance Company, as Lender.  (Secured) ($12,400,433)

 

49.           Guaranty Agreement, made as
of December 27, 2006, by HRPT Properties Trust, as Guarantor, in favor of
American General Life Insurance Company, as Lender.  (Secured) ($12,400,433)

 

18705 — 18715 Madrone
Parkway, Morgan Hill, CA — Hub Madrone Properties LLC (Assumed November 7,
2008)

 

50.           Secured Promissory Note,
dated as of October 24, 2002, from Hub Madrone Properties LLC, as successor to
TBI-Mission West, LLC, as Borrower, to Thrivent Financial For Lutherans.  (Secured) ($13,616,320)

 

51.           Deed of Trust, Financing
Statement, Fixture Filing and Security Agreement with Assignment of Rents,
dated as of October 24, 2002, made by Hub Madrone Properties LLC, as successor
to TBI-Mission West, LLC, as Trustor, to First American Title Insurance Company,
as Trustee, for the benefit of Thrivent Financial For Lutherans, as
Beneficiary.  (Secured) ($13,616,320)

 

52.           Consent, Assumption, and
Modification Agreement, dated as of November 7, 2008, by and among TBI-Mission
West, LLC and Hub Madrone LLC, and Thrivent Financial for Lutherans, as
Lender.  (Secured) ($13,616,320)

 

53.           Guaranty, dated as of
November 7, 2008, by HRPT Properties Trust, as Guarantor, in favor of Thrivent
Financial For Lutherans, as Lender. 
(Secured) ($13,616,320)

 

54.           Promissory Note, dated as of
December 27, 2007, made by Hub Madrone Properties LLC, as successor to
TBI-Mission West, LLC to The Prudential Insurance Company of America.  (Secured) ($14,752,180)

 

55.           Deed of Trust, Security
Agreement and Fixture Filing with Assignment of Rents and Proceeds, dated as of
December 27, 2007, made by Hub Madrone Properties LLC, as successor to
TBI-Mission West, LLC, as Trustor, to First American Title Company, as Trustee,
for the benefit of The Prudential Insurance Company of America, as Beneficiary.
(Secured) ($14,752,180)

 

 

56.           Recourse Guaranty, dated as
of December 27, 2007, by HRPT Properties Trust, as successor to Charles J.
Toeniskoetter, Dan L. Breeding and Brad W. Krouskup, collectively as Original
Guarantor, in favor of The Prudential Life Insurance Company of America.  (Secured) ($14,752,180)

 

57.           Consent, Assumption of
Liability and Modification Agreement, dated as of November 7, 2008 by and among
TBI-Mission West, LLC, Hub Madrone Properties LLC and The Prudential Life
Insurance Company of America.  (Secured)
($14,752,180)

 

58.           Substitution of Guarantor,
dated as of November 7, 2008, made by HRPT Properties Trust, as New Guarantor,
Charles J. Toeniskoetter, Dan L. Breeding and Brad W. Krouskup, collectively as
Original Guarantor, and The Prudential Insurance Company of America, as
Lender.  (Secured) ($14,752,180)

 

225 Water Street, Jacksonville, FL — Hub OEC
Properties LLC (Assumed November 24, 2008)

 

59.           Renewal Promissory Note
Including Future Advance, dated as of May 10, 2006, made by Hub OEC Properties
LLC, as successor to One Enterprise Financial Associates, LLC and Sendar
Jacksonville (ENTERPRISE) LLC, as Borrower, in favor of Wachovia Bank, National
Association.  (Secured) ($41,600,000)

 

60.           Amended, Restated, and
Consolidated Fee and Leasehold Mortgage and Security Agreement and Assignment
of Leases and Rents, dated March 27, 2002, by and between Hub OEC Properties
LLC, as successor to One Enterprise Financial Associates, LLC and Sendar
Jacksonville (ENTERPRISE) LLC, as Borrower, and Wells Fargo Bank, N.A., as
Trustee for the registered holders of Wachovia Bank Commercial Mortgage Trust,
Commercial Mortgage Pass-Through Certificates, Series 2006-C26, as successor to
Wachovia Bank, National Association, as Lender. 
(Secured) ($41,600,000)

 

61.           Note and Mortgage
Modification Agreement Evidencing Renewal Promissory Note Including Future
Advance and Amended and Restated Mortgage, Security Agreement and Fixture
Filing, dated as of May 10, 2006, made by Hub OEC Properties LLC, as successor
to One Enterprise Financial Associates, LLC and Sendar Jacksonville
(ENTERPRISE) LLC, as Borrower, in favor of Wells Fargo Bank, N.A., as Trustee
for the registered holders of Wachovia Bank Commercial Mortgage Trust,
Commercial Mortgage Pass-Through Certificates, Series 2006-C26, as successor to
Wachovia Bank, National Association, as Lender. 
(Secured) ($41,600,000)

 

62.           Indemnity and Guaranty
Agreement, made as of May 10, 2006, by Hub OEC Properties LLC as Successor to
HGGP Capital II, LLC and Sendar Development Co. LLC, as Indemnitors, in favor
of Wachovia Bank, National Association, as Lender.  (Secured) ($41,600,000)

 

 

63.           Loan Assumption,
Substitution and Modification Agreement, dated as of November 24, 2008, by and
among Hub OEC Properties LLC, HRPT Properties Trust, One Enterprise Financial
Associates, LLC, Sendar Jacksonville (ENTERPRISE) LLC, HGGP Capital II, LLC,
Sendar Development Co. LLC and Wells Fargo Bank, N.A., as Trustee for the
registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates, Series 2006-C26, as successor to Wachovia
Bank, National Association.  (Secured)
($41,600,000)

 

64.           Allonge to Note, dated as of
November 24, 2008, made by Hub OEC Properties LLC, as successor to One Enterprise
Financial Associates, LLC and Sendar Jacksonville (ENTERPRISE) LLC, as
Borrower, in favor of Wells Fargo Bank, N.A., as Trustee for the registered
holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2006-C26, as successor to Wachovia Bank,
National Association, as Lender. 
(Secured) ($41,600,000)

 

6200
Glenn Carlson Drive, St. Cloud, MN — Blue Dog Properties Trust (Assumed October
15, 2009)

 

65.           Balloon Promissory Note,
dated as of January 13, 2005, made by Blue Dog Properties Trust, as successor
to OLP ST. CLOUD LLC, as Borrower, in favor of GE Commercial Finance Business
Property Corporation, as Lender. 
(Secured) ($8,931,485)

 

66.           Mortgage, Security
Agreement, Assignment of Leases and Rents, and Fixture Filing, dated as of
January 13, 2005, made by Blue Dog Properties Trust, as successor to OLP ST.
CLOUD LLC, as Borrower, and GE Commercial Finance Business Property
Corporation, as Mortgagee.  (Secured)
($8,931,485)

 

67.           Loan Modification Agreement,
dated as of April 4, 2006, between Blue Dog Properties Trust, as successor to
OLP ST. CLOUD LLC, and GE Commercial Finance Business Property
Corporation.  (Secured) ($8,931,485)

 

68.           Second Loan Modification and
Assignment and Assumption Agreement, dated October 15, 2009, by and among OLP
ST. CLOUD LLC, as Borrower, GE Commercial Finance Business Property
Corporation, as Mortgagee, and Blue Dog Properties Trust, as Transferee.  (Secured) ($8,931,485)

 

1735 Market Street, Philadelphia, PA — Nine Penn
Center Associates, L.P.  (Financed
December 3, 2009)

 

69.           Note, dated as of December
3, 2009, made by Nine Penn Center Associates, L.P., as Borrower, in favor of PB
Capital Corporation, as Lender. 
(Secured) ($37,500,000)

 

70.           Note, dated as of December
3, 2009, made by Nine Penn Center Associates, L.P., as Borrower, in favor of PB
(USA) Realty Corporation, as Lender. 
(Secured) ($50,000,000)

 

 

71.           Loan Agreement, dated as of
December 1, 2009, by and among Nine Penn Center Associates, L.P., as Borrower,
PB (USA) Realty Corporation, PB Capital Corporation, and Westdeutsche
Immobilienbank AG, collectively as Lender, and PB Capital Corporation, as
Administrative Agent.  (Secured)
($175,000,000)

 

72.           Open-End Mortgage, Security
Agreement and Fixture Filing, dated December 1, 2009 made by Nine Penn Center
Associates, L.P., as Borrower, in favor of PB Capital Corporation, as
Lender.  (Secured) ($175,000,000)

 

73.           Guaranty, dated as of
December 3, 2009, made by HRPT Properties Trust, as Guarantor, in favor of PB
(USA) Realty Corporation, Westdeutsche Immobilienbank AG, and PB Realty, as
Lenders.  (Secured) ($175,000,000)

 

74.           Amended and Restated Note,
dated as of February 1, 2010, made by Nine Penn Center Associates, L.P., as
Borrower, in favor of Westdeutsche Immobilienbank AG, as Lender.  (Secured) ($43,750,000)

 

75.           Amended and Restated Note,
dated as of February 1, 2010, made by Nine Penn Center Associates, L.P., as
Borrower, in favor of Deutsche Genossenschafts-Hypothekenbank AG, as
Lender.  (Secured) ($43,750,000)

 

76.           ISDA 2002 Master Agreement,
dated as of December 1, 2009 having an effective date as of December 3, 2009,
between PB Capital Corporation and Nine Penn Center Associates, L.P.

 

77.           ISDA Schedule to the 2002
Master Agreement, dated as of December 1, 2009 having an effective date as of
December 3, 2009, between PB Capital Corporation and Nine Penn Center
Associates, L.P.

 

78.           Confirmation of Swap
Transaction #212437, dated December 4, 2009, between PB Capital Corporation and
Nine Penn Center Associates, L.P.

 

79.           Collateral Assignment of
Interest Rate Protection Agreements, dated as of December 1, 2009 having an
effective date as of December 3, 2009, made by Nine Penn Center Associates,
L.P. in favor of PB Capital Corporation, as Administrative Agent.

 

80.           ISDA 2002 Master Agreement,
dated as of December 1, 2009 having an effective date as of December 3, 2009,
between Westdeutsche Immobilienbank AG and Nine Penn Center Associates, L.P.

 

81.           ISDA Schedule to the 2002
Master Agreement, dated as of December 1, 2009 having an effective date as of
December 3, 2009, between Westdeutsche Immobilienbank AG and Nine Penn Center
Associates, L.P.

 

82.           Confirmation of Swap
Transaction, dated December 4, 2009, between Westdeutsche Immobilienbank AG and
Nine Penn Center Associates, L.P.

 

 

83.           Collateral Assignment of
Interest Rate Protection Agreements, dated as of December 1, 2009 having an
effective date as of December 3, 2009, made by Nine Penn Center Associates,
L.P. in favor of PB Capital Corporation, as Administrative Agent.

 

 

SCHEDULE 6.1(h)

 

Material Contracts

 

	
  1.

  	
   

  	
  Business Management Agreement, dated as of June 8, 2009, between
  the Borrower and Reit Management & Research LLC.

  
	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  First Amendment to Business Management Agreement, dated as of
  January 21, 2010, between the Borrower and Reit Management &
  Research LLC.

  
	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  Amended and Restated Property Management Agreement, dated as of
  January 21, 2010, among Reit Management & Research LLC and
  the Borrower.

  
	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  Transaction Agreement, dated as of September 21, 1999, between
  Senior Housing Properties Trust and the Borrower.

  
	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
  First Amendment to Transaction Agreement, dated as of May 5,
  2008, between Senior Housing Properties Trust and the Borrower.

  
	
   

  	
   

  	
   

  
	
  6.

  	
   

  	
  Transaction Agreement dated June 8, 2009, between the Borrower
  and Government Properties Income Trust.

  
	
   

  	
   

  	
   

  
	
  7.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, among the
  Borrower, Hub Properties Trust and MOB Realty Trust, as Sellers, and Senior
  Housing Properties Trust, as Purchaser (with respect to 21 properties located
  in Massachusetts, Pennsylvania, and New York).

  
	
   

  	
   

  	
   

  
	
  8.

  	
   

  	
  First Amendment to Purchase and Sale Agreement, dated as of
  August 7, 2008, among the Borrower, Hub Properties Trust, MOB Realty
  Trust, as Seller, and Senior Housing Properties Trust, as Purchaser.

  
	
   

  	
   

  	
   

  
	
  9.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to Torrey Pines, 3030-50, Science Park Road, San
  Diego, California).

  
	
   

  	
   

  	
   

  
	
  10.

  	
   

  	
  First Amendment to Purchase Agreement, dated as of December 23,
  2008, between Hub Properties Trust, as Seller, and Senior Housing Properties
  Trust, as Purchaser (with respect to Torrey Pines, 3030-50, Science Park
  Road, San Diego, California).

  
	
   

  	
   

  	
   

  
	
  11.

  	
   

  	
  Second Amendment to Purchase and Sale Agreement, dated as of
  August 6, 2009, between Hub Properties Trust, as Seller, and Senior
  Housing Properties Trust, as Purchaser (with respect to Torrey Pines, 3030-50
  Science Park, San Diego, California).

  
	
   

  	
   

  	
   

  
	
  12.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to Amelia Building, 855 Kempsville Road, Norfolk,
  Virginia).

  
	
   

  	
   

  	
   

  
	
  13.

  	
   

  	
  First Amendment to Purchase Agreement, dated as of December 23,
  2008, between Hub Properties Trust, as Seller, and Senior Housing Properties
  Trust, as Purchaser (with respect to Amelia Building, 855 Kempsville Road,
  Norfolk, Virginia).

  

 

 

	
  14.

  	
   

  	
  Second Amendment to Purchase Agreement, dated as of May 20,
  2009, between Hub Properties Trust, as Seller, and Senior Housing Properties
  Trust, as Purchaser (with respect to Amelia Building, 855 Kempsville Road,
  Norfolk, Virginia).

  
	
   

  	
   

  	
   

  
	
  15.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to Halifax Building, 6161 Kempsville Circle, Norfolk,
  Virginia).

  
	
   

  	
   

  	
   

  
	
  16.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to Fair Oaks, 4001 Fair Ridge Drive, Fairfax,
  Virginia).

  
	
   

  	
   

  	
   

  
	
  17.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to 2141 K Street, NW, Washington, DC).

  
	
   

  	
   

  	
   

  
	
  18.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to 6818 Austin Center Boulevard, Austin, Texas).

  
	
   

  	
   

  	
   

  
	
  19.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to 1145 19th Street, NW,
  Washington, DC).

  
	
   

  	
   

  	
   

  
	
  20.

  	
   

  	
  First Amendment to Purchase Agreement, dated as of December 23,
  2008, between Hub Properties Trust, as Seller, and Senior Housing Properties
  Trust, as Purchaser (with respect to 1145 19th Street, NW,
  Washington, DC).

  
	
   

  	
   

  	
   

  
	
  21.

  	
   

  	
  Second Amendment to Purchase Agreement, dated as of May 20,
  2009, between Hub Properties Trust, as Seller, and Senior Housing Properties
  Trust, as Purchaser (with respect to 1145 19th Street, NW,
  Washington, DC).

  
	
   

  	
   

  	
   

  
	
  22.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to Oklahoma Clinics, 8315 South Walker Avenue, 701 NE
  10th Street, 200 North Bryant, 600 National Avenue, Oklahoma City,
  Oklahoma).

  
	
   

  	
   

  	
   

  
	
  23.

  	
   

  	
  First Amendment to Purchase Agreement, dated as of December 23,
  2008, between Hub Properties Trust, as Seller, and Senior Housing Properties
  Trust, as Purchaser (with respect to Oklahoma Clinics, 8315 South Walker
  Avenue, 701 NE 10th Street, 200 North Bryant, 600 National Avenue,
  Oklahoma City, Oklahoma).

  
	
   

  	
   

  	
   

  
	
  24.

  	
   

  	
  Second Amendment to Purchase Agreement, dated as of September 1,
  2009, between Hub Properties Trust, as Seller, and Senior Housing Properties
  Trust, as Purchaser (with respect to Oklahoma Clinics, 8315 South Walker
  Avenue, 701 NE 10th Street, 200 North Bryant, 600 National Avenue,
  Oklahoma City, Oklahoma).

  
	
   

  	
   

  	
   

  
	
  25.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  the Borrower, as Seller, and Senior Housing Properties Trust, as Purchaser
  (with respect to HIP of White Plains, 15 North Broadway, White Plains, New
  York).

  

 

 

	
  26.

  	
   

  	
  First Amendment to Purchase and Sale Agreement, dated as of
  January 26, 2009, between the Borrower, as Seller, and Senior Housing
  Properties Trust, as Purchaser (with respect to HIP of White Plains, 15 North
  Broadway, White Plains, New York).

  
	
   

  	
   

  	
   

  
	
  27.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to 4770 Regent Boulevard, Irving, Texas).

  
	
   

  	
   

  	
   

  
	
  28.

  	
   

  	
  First Amendment to Purchase and Sale Agreement, dated as of
  June 25, 2008, between Hub Properties Trust, as Seller, and Senior
  Housing Properties Trust, as Purchaser (with respect to 4770 Regent Boulevard,
  Irving, Texas).

  
	
   

  	
   

  	
   

  
	
  29.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub RI Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to 701 George Washington Highway, Lincoln, Rhode
  Island).

  
	
   

  	
   

  	
   

  
	
  30.

  	
   

  	
  First Amendment to Purchase and Sale Agreement, dated as of
  June 25, 2008, between Hub RI Properties Trust, as Seller, and Senior
  Housing Properties Trust, as Purchaser (with respect to 701 George Washington
  Highway, Lincoln, Rhode Island).

  
	
   

  	
   

  	
   

  
	
  31.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between 4
  Maguire Road Realty Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to 4 Maguire Road, Lexington, Massachusetts).

  
	
   

  	
   

  	
   

  
	
  32.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to 4000 Old Court Road, Pikesville, Maryland).

  
	
   

  	
   

  	
   

  
	
  33.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to 1825, 1911 and 1925 North Mills Avenue, Orlando,
  Florida).

  
	
   

  	
   

  	
   

  
	
  34.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to Bailey Square, 1111 West 34th Street, Austin,
  Texas).

  
	
   

  	
   

  	
   

  
	
  35.

  	
   

  	
  First Amendment to Purchase and Sale Agreement, dated as of
  June 25, 2008, between Hub Properties Trust, as Seller, and Senior
  Housing Properties Trust, as Purchaser (with respect to Bailey Square, 1111
  West 34th Street,
  Austin, Texas).

  
	
   

  	
   

  	
   

  
	
  36.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to Brittonfield II and III, Lot 5E-2 and Lot 5E-1,
  5008 Brittonfield Parkway, East Syracuse, New York).

  
	
   

  	
   

  	
   

  
	
  37.

  	
   

  	
  First Amendment to Purchase and Sale Agreement, dated as of
  July 9, 2008, between Hub Properties Trust, as Seller, and Senior
  Housing Properties Trust, as Purchaser (with respect to Brittonfield II and
  III, Lot 5E-2 and Lot 5E-1, 5008 Brittonfield Parkway, East Syracuse, New
  York).

  

 

 

	
  38.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to Centre Commons, 5750 Centre Avenue, Pittsburgh,
  Pennsylvania).

  
	
   

  	
   

  	
   

  
	
  39.

  	
   

  	
  First Amendment to Purchase and Sale Agreement, dated as of
  June 11, 2008, between Hub Properties Trust, as Seller, and Senior
  Housing Properties Trust, as Purchaser (with respect to Centre Commons, 5750
  Centre Avenue, Pittsburgh, Pennsylvania).

  
	
   

  	
   

  	
   

  
	
  40.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to 710 North Euclid, Anaheim, California).

  
	
   

  	
   

  	
   

  
	
  41.

  	
   

  	
  First Amendment to Purchase and Sale Agreement, dated as of
  July 9, 2008, between Hub Properties Trust, as Seller, and Senior
  Housing Properties Trust, as Purchaser (with respect to 710 North Euclid,
  Anaheim, California).

  
	
   

  	
   

  	
   

  
	
  42.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Properties Trust, as Seller, and Senior Housing Properties Trust, as
  Purchaser (with respect to 525 Virginia Drive, Fort Washington,
  Pennsylvania).

  
	
   

  	
   

  	
   

  
	
  43.

  	
   

  	
  First Amendment to Purchase and Sale Agreement, dated as of
  June 25, 2008, between Hub Properties Trust, as Seller, and Senior
  Housing Properties Trust, as Purchaser (with respect to 525 Virginia Drive,
  Fort Washington, Pennsylvania).

  
	
   

  	
   

  	
   

  
	
  44.

  	
   

  	
  Purchase and Sale Agreement, dated as of May 5, 2008, between
  Hub Northeast Medical Arts Center LLC, as Seller, and Senior Housing
  Properties Trust, as Purchaser (with respect to Northeast Medical Arts
  Center, 2801 North Decatur Road, Decatur, Georgia).

  
	
   

  	
   

  	
   

  
	
  45.

  	
   

  	
  First Amendment to Purchase and Sale Agreement, dated as of
  July 9, 2008, between Hub Northeast Medical Arts Center LLC, as
  Seller, and Senior Housing Properties Trust, as Purchaser (with respect to
  Northeast Medical Arts Center, 2801 North Decatur Road, Decatur, Georgia).

  
	
   

  	
   

  	
   

  
	
  46.

  	
   

  	
  Right of First Refusal Agreement dated as of May 5, 2008 between
  the Borrower, Blue Dog Properties Trust, Cedars LA LLC, HRP
  NOM L.P., HRP NOM 2 L.P., HRPT Medical Buildings Realty Trust, Hub
  Properties Trust, Lakewood Property Trust , LTMAC Properties LLC, Hub
  Mid-West LLC, and Rosedale Properties Limited Liability Borrower, as
  Grantors, and Senior Housing Properties Trust.

  
	
   

  	
   

  	
   

  
	
  47.

  	
   

  	
  Amended and Restated Shareholders Agreement, dated as of
  December 16, 2009, by and among the Borrower, Affiliates Insurance
  Borrower, Five Star Quality Care, Inc., Hospitality Properties Trust,
  Senior Housing Properties Trust, TravelCenters of America LLC, Reit
  Management & Research LLC and Government Properties Income
  Trust.

  
	
   

  	
   

  	
   

  
	
  48.

  	
   

  	
  Purchase and Sale Agreement, dated as of June 14, 2010, by and
  between Hub Realty Funding, Inc., as Seller, and Government Properties Income
  Trust, as Purchaser (with respect to the property located at 711 S. 14th Avenue,
  Safford, AZ).

  

 

 

	
  49.

  	
   

  	
  Purchase and Sale Agreement, dated as of June 14, 2010, by and
  between Hub Realty Funding, Inc., as Seller, and Government Properties Income
  Trust, as Purchaser (with respect to the property located at 400 State
  Avenue, Kansas City, KS).

  
	
   

  	
   

  	
   

  
	
  50.

  	
   

  	
  Purchase and Sale Agreement, dated June 14, 2010, by and between Hub
  Acquisition Trust, as Seller, and Government Properties Income Trust, as
  Purchaser (with respect to the property located at One Montvale Avenue,
  Stoneham, MA).

  
	
   

  	
   

  	
   

  
	
  51.

  	
   

  	
  Purchase and Sale Agreement, dated June 14, 2010, by and between Hub
  Acquisition Trust, as Seller, and Government Properties Income Trust, as
  Purchaser (with respect to the property located at 330 South Second Avenue,
  Minneapolis, MN).

  
	
   

  	
   

  	
   

  
	
  52.

  	
   

  	
  Purchase and Sale Agreement, dated June 14, 2010, by and between Hub
  Acquisition Trust, as Seller, and Government Properties Income Trust, as
  Purchaser (with respect to the property located at 4181 Ruffin Road, San
  Diego, CA).

  
	
   

  	
   

  	
   

  
	
  53.

  	
   

  	
  Purchase and Sale Agreement, dated June 14, 2010, by and between Hub
  Properties Trust, as Seller, and Government Properties Income Trust, as
  Purchaser (with respect to the property located at 101 Executive Center
  Drive, Columbia, SC).

  
	
   

  	
   

  	
   

  
	
  54.

  	
   

  	
  Purchase and Sale Agreement, dated June 14, 2010, by and between Hub
  Properties Trust, as Seller, and Government Properties Income Trust, as
  Purchaser (with respect to the property located at 111 Executive Center
  Drive, Columbia, SC).

  
	
   

  	
   

  	
   

  
	
  55.

  	
   

  	
  Purchase and Sale Agreement, dated June 14, 2010, by and between Hub
  Acquisition Trust, as Seller, and Government Properties Income Trust, as
  Purchaser (with respect to the property located at 55 North Robinson Avenue,
  Oklahoma City, OK).

  
	
   

  	
   

  	
   

  
	
  56.

  	
   

  	
  Purchase and Sale Agreement, dated as of June 14, 2010, by and
  between HH Hub Properties LLC, as Seller, and Government Properties Income
  Trust, as Purchaser (with respect to the property located at One Memphis
  Place, 200 Jefferson Avenue, Memphis, TN).

  
	
   

  	
   

  	
   

  
	
  57.

  	
   

  	
  Purchase and Sale Agreement, dated as of June 14, 2010, by and
  between Hub Realty Funding, Inc., as Seller, and Government Properties Income
  Trust, as Purchaser (with respect to the property located at 3285 Hemisphere
  Loop, Tucson, AZ).

  
	
   

  	
   

  	
   

  
	
  58.

  	
   

  	
  Purchase and Sale Agreement, dated as of June 14, 2010, by and
  between Hub Realty Funding, Inc., as Seller, and Government Properties Income
  Trust, as Purchaser (with respect to the property located at 625 Indiana
  Avenue NW, Washington, DC).

  
	
   

  	
   

  	
   

  
	
  59.

  	
   

  	
  Purchase and Sale Agreement, dated as of June 14, 2010, by and
  between Causeway Holdings, Inc., as Seller, and Government Properties Income
  Trust, as Purchaser (with respect to the property located at 251 Causeway
  Street, Boston, MA).

  
	
   

  	
   

  	
   

  
	
  60.

  	
   

  	
  Purchase and Sale Agreement, dated as of June 14, 2010, by and
  between Hub Realty Funding, Inc., as Seller, and Government Properties Income
  Trust, as Purchaser (with respect to the property located at 435 Montano Road
  NE, Albuquerque, NM).

  

 

 

	
  61.

  	
   

  	
  Purchase and Sale Agreement, dated as of June 14, 2010, by and
  between Hub Realty Funding, Inc., as Seller, and Government Properties Income
  Trust, as Purchaser (with respect to the property located at 220 E. Bryan
  Street, Savannah, GA).

  
	
   

  	
   

  	
   

  
	
  62.

  	
   

  	
  Purchase and Sale Agreement, dated as of June 14, 2010, by and
  between Hub Realty College Park I, LLC, as Seller, and Government Properties
  Income Trust, as Purchaser (with respect to the property located at 4700
  River Road, Riverdale, MD). 

  
	
   

  	
   

  	
   

  
	
  63.

  	
   

  	
  Agreements 1-13 listed on Schedule 6.1(g).

  

 

 

SCHEDULE 6.1(i)

 

Litigation

 

None.

 

 

SCHEDULE 6.1(s)

 

Affiliate Transactions

 

1.             Agreements 1-62 listed on Schedule
6.1(h).

 

 

SCHEDULE 6.1(t)

 

Intellectual Property

 

None.

 

 

SCHEDULE 6.1(z)

 

List
of Unencumbered Assets and Unencumbered Mortgage Notes

 

Part I
(Unencumbered Assets)

 

	
  OWNER

  	
   

  	
  STREET

  	
   

  	
  CITY

  	
   

  	
  STATE

  	
   

  	
  PROPERTIES

  
	
  1600
  Market Street Property Trust

  	
   

  	
  1600
  Market Street

  	
   

  	
  Philadelphia

  	
   

  	
  PA

  	
   

  	
  1

  
	
  ALPHA
  BT LLC

  	
   

  	
  91-222
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  ALPHA
  BT LLC

  	
   

  	
  91-209
  Kuhela

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Blue
  Dog Bookspan Properties LLC

  	
   

  	
  501
  Ridge Avenue

  	
   

  	
  Hanover

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Blue
  Dog LLC

  	
   

  	
  400
  Princeton Blvd.

  	
   

  	
  Adairsville

  	
   

  	
  GA

  	
   

  	
  1

  
	
  Blue
  Dog LLC

  	
   

  	
  7629
  Highway 140

  	
   

  	
  Adairsville

  	
   

  	
  GA

  	
   

  	
  1

  
	
  Blue
  Dog LLC

  	
   

  	
  951
  Trails Road

  	
   

  	
  Eldridge

  	
   

  	
  IA

  	
   

  	
  1

  
	
  Blue
  Dog LLC

  	
   

  	
  625
  Crane Street

  	
   

  	
  Aurora

  	
   

  	
  IL

  	
   

  	
  1

  
	
  Blue
  Dog LLC

  	
   

  	
  745
  S. Gardner Street

  	
   

  	
  Scottsburg

  	
   

  	
  IN

  	
   

  	
  1

  
	
  Blue
  Dog LLC

  	
   

  	
  5015
  S. Water Circle

  	
   

  	
  Wichita

  	
   

  	
  KS

  	
   

  	
  1

  
	
  Blue
  Dog LLC

  	
   

  	
  2300
  North 33rd Avenue East

  	
   

  	
  Newton

  	
   

  	
  IA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  4
  South 84th Ave

  	
   

  	
  Tolleson

  	
   

  	
  AZ

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  411
  Farwell Avenue

  	
   

  	
  St.
  Paul

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  2660
  Mercantile Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  2664
  Mercantile Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  2668
  Mercantile Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  8500
  Fruitridge Road

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  8516
  Fruitridge Road

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9727
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9745
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9767
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9777
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9778
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9779
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9792
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9795
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9800
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9816
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9840
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9844
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9848
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9852
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  9856
  Business Park Drive

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  

 

 

	
  Blue
  Dog Properties Trust

  	
   

  	
  9975
  Horn Road

  	
   

  	
  Sacramento

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  19026
  72nd Avenue South

  	
   

  	
  Kent

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  19030
  West Valley Highway

  	
   

  	
  Kent

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  19030-42
  72nd Avenue South

  	
   

  	
  Kent

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  340
  Andover Park East

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  505
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  —

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  530
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  533
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  —

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  564
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  565
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  —

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  596
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  605
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  630
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  644
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  662
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  698
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  701
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  742
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  505
  Industry Drive

  	
   

  	
  Tukwila

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  15201
  Mercantile Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  3001
  Gulley Road

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  3101
  Gulley Road

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  3231
  Gulley Road

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  3241
  Gulley Road

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  3251
  Gulley Road

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  129
  Worthington Ridge Road

  	
   

  	
  Berlin

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  15
  Sterling Drive

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  2
  Tower Drive

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  50
  Barnes Industrial Road North

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  23-27
  Village Lane

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  29-33
  Village Lane

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  One
  Barnes Industrial Rd South

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  5-9
  Barnes Industrial Road

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  860
  North Main Street

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  866
  North Main Street

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  181
  Marsh Hill Road

  	
   

  	
  Orange

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  500
  Industrial Boulevard

  	
   

  	
  Russellville

  	
   

  	
  AR

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  546
  Harvey Faulk Road

  	
   

  	
  Sanford

  	
   

  	
  NC

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  2735
  E. 40th Street

  	
   

  	
  Cleveland

  	
   

  	
  OH

  	
   

  	
  1

  

 

 

	
  Blue
  Dog Properties Trust

  	
   

  	
  721
  Richard Street

  	
   

  	
  Miamisburg

  	
   

  	
  OH

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  1043
  Global Avenue

  	
   

  	
  Graniteville

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  128
  Crews Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  351
  Collins Road

  	
   

  	
  Jefferson

  	
   

  	
  WI

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  111
  Southchase Blvd.

  	
   

  	
  Fountain
  Inn

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Blue
  Dog Properties Trust

  	
   

  	
  32150
  Just Imagine Drive

  	
   

  	
  Avon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  Candler
  Associates L.L.C.

  	
   

  	
  111
  Market Street

  	
   

  	
  Baltimore

  	
   

  	
  MD

  	
   

  	
  1

  
	
  Bridgepoint
  Property Trust

  	
   

  	
  Bridgepoint
  Parkway 1

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Bridgepoint
  Property Trust

  	
   

  	
  Bridgepoint
  Parkway 2

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Bridgepoint
  Property Trust

  	
   

  	
  Bridgepoint
  Parkway 3

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Bridgepoint
  Property Trust

  	
   

  	
  Bridgepoint
  Parkway 4

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Bridgepoint
  Property Trust

  	
   

  	
  Bridgepoint
  Parkway 5

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Causeway
  Holdings, Inc.

  	
   

  	
  251
  Causeway Street

  	
   

  	
  Boston

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Cedars
  LA LLC

  	
   

  	
  8631
  W. 3rd Street – East

  	
   

  	
  Los
  Angeles

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Cedars
  LA LLC

  	
   

  	
  8631
  W. 3rd Street – West

  	
   

  	
  Los
  Angeles

  	
   

  	
  CA

  	
   

  	
  1

  
	
  First
  Associates LLC

  	
   

  	
  25
  S. Charles Street

  	
   

  	
  Baltimore

  	
   

  	
  MD

  	
   

  	
  1

  
	
  Fourth
  and Roma Property Trust

  	
   

  	
  500
  4th Street & 303 Roma Ave

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  2

  
	
  Franklin
  Plaza Property Trust

  	
   

  	
  One
  Franklin Plaza

  	
   

  	
  Philadelphia

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hawaii
  Metamorphosis LLC

  	
   

  	
  91-008
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-265
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-255
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-241
  Kalaeloa

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-325
  Komohana

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Komohana

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-202
  Kalaeloa

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-080
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-027
  Kaomi Loop

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  2

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-185
  Kalaeloa

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-329
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-086
  Kaomi Loop

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-349
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-400
  Komohana

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-170
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-218
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-175
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-087
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-083
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-091
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  

 

 

	
  Hawaii
  MMGD LLC

  	
   

  	
  91-220
  Kalaeloa

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-252
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-259
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-238
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-410
  Komohana

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-410
  Komohana

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-300
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-255
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-120
  Kauhi

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-150
  Hanua

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  2

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-102
  Kaomi Loop – A

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-102
  Kaomi Loop – B

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-064
  Kaomi Loop

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  91-119
  Olai

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Texaco
  Easement

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Tesaro
  967 Easement

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  AES
  HI Easement

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Hawaii
  MMGD LLC

  	
   

  	
  Other
  Easments & Lots

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Hawaii
  Phoenix Properties LLC

  	
   

  	
  91-150
  Kaomi Loop

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Herald
  Square LLC

  	
   

  	
  1250
  H Street, NW

  	
   

  	
  Washington

  	
   

  	
  DC

  	
   

  	
  1

  
	
  HH
  HUB Properties LLC

  	
   

  	
  One
  Memphis Place

  	
   

  	
  Memphis

  	
   

  	
  TN

  	
   

  	
  1

  
	
  Higgins
  Properties LLC

  	
   

  	
  80
  Sand Island Access Road

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Higgins
  Properties LLC

  	
   

  	
  94-240
  Pupuole St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Higgins
  Properties LLC

  	
   

  	
  525
  N. King Street

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  2
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  3E
  Executive Park East

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  4E
  Executive Park East

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  4
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  6
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  8
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  11
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  14
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  16
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  17
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  18
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  20
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  22
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  24
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  

 

 

	
  HRP
  Nom 2 L.P.

  	
   

  	
  26
  Executive Park West

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  50
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  52
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  57
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom 2 L.P.

  	
   

  	
  59
  Executive Park South

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5100-70
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5101
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5201
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5250
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5260
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5265
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5275
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5325
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5351
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5370
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5375
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5380
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5385
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  5401
  Naiman Parkway

  	
   

  	
  Solon

  	
   

  	
  OH

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  8555
  Aero Drive

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  600
  108th Ave. NE

  	
   

  	
  Bellevue

  	
   

  	
  WA

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  2
  Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  3
  Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  9
  Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  13
  Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  54
  Corporate Boulevard

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  1
  Parklane Boulevard

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  2

  
	
  HRP
  Nom L.P.

  	
   

  	
  15000
  Commerce Drive North

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  15001
  Commerce Drive North

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  15050
  Commerce Drive North

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  15120
  Commerce Drive North

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  15101
  Century Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  15201
  Century Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  15301
  Century Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  15401
  Century Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  15301
  Mercantile Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  15300
  Rotunda Drive

  	
   

  	
  Dearborn

  	
   

  	
  MI

  	
   

  	
  1

  
	
  HRP
  Nom L.P.

  	
   

  	
  6001
  Montrose Road

  	
   

  	
  Rockville

  	
   

  	
  MD

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11300
  Corporate Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  

 

 

	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13400-13428
  West 99th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13401-13423
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13424-13430
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13300-13316
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13250-13256
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13200-13202
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13253-13269
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13309-13321
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13306-13318
  West 99th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13208-13228
  West 98th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13900
  West 101st Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  13901
  West 101st Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 1

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 2

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 3

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 4

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 5

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9900
  Pflumm Road – 6

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9901
  Pflumm Road

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9850
  Industrial Blvd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9802
  Widmer Road

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9851-9875
  Widmer

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9801-9829
  Widmer Road

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  9745-9777
  Widmer Road

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  10105
  Marshall Drive

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  NWC
  Industrial Blvd and Widmer Rd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  E/S
  of Widmer Road

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SWC
  W 98th St. and Marshall Drive

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SEC
  College Blvd. and Renner Blvd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  15705-15734
  College Boulevard

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  15501-15529
  College Boulevard

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11140-11145
  Thompson Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11150-11180
  Thompson Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11206-11228
  Thompson Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  15620-15642
  West 113th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11203-11211
  Lakeview Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  15405
  College Boulevard

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  11135
  Sante Fe Trail Drive

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  15500
  West 113th Street

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  

 

 

	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  16011
  College Boulevard

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  22300
  Lakeview Avenue

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SW
  Corner of College Blvd & Lackm – Retail

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SW
  Corner of College Blvd & Lackm – ATM

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SEC
  College Blvd. and Renner Blvd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  E/S
  of Renner Blvd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  NEC
  W 113th St. and Renner Blvd

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  SWC
  College Blvd and Corporate Av

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  NEC
  College Blvd Corporate Ave

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  NEC
  Corporate Ave and 113th – Parcel 17.6

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  NEC
  Corporate Ave and W 113th – Parcel 17.7

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  Waterside
  Maintenance District

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  Southlake
  Owners Association

  	
   

  	
  Lenexa

  	
   

  	
  KS

  	
   

  	
  —

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  4700
  Belleview Avenue

  	
   

  	
  Kansas
  City

  	
   

  	
  MO

  	
   

  	
  1

  
	
  HRPT
  Lenexa Properties Trust

  	
   

  	
  131-165
  West Ninth Street

  	
   

  	
  N
  Kansas City

  	
   

  	
  MO

  	
   

  	
  1

  
	
  HRPT
  Medical Building Realty Trust

  	
   

  	
  1295
  Boylston Street

  	
   

  	
  Boston

  	
   

  	
  MA

  	
   

  	
  1

  
	
  HRPT
  Medical Building Realty Trust

  	
   

  	
  109
  Brookline Avenue

  	
   

  	
  Boston

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  Acquisition Trust

  	
   

  	
  55
  North Robinson Ave.

  	
   

  	
  Oklahoma
  City

  	
   

  	
  OK

  	
   

  	
  1

  
	
  Hub
  Acquisition Trust

  	
   

  	
  5051
  Rodeo Road

  	
   

  	
  Los
  Angeles

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6501
  Americas Parkway NE

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6602
  Indian School Road

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  —

  
	
  Hub
  Acquisition Trust

  	
   

  	
  2121
  Louisiana Ave

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6511
  Americas Parkway NE

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6600
  Indian School Road

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6640-46
  Indian School Road

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Acquisition Trust

  	
   

  	
  6521
  Americas Parkway NE

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Hoboken Properties LLC

  	
   

  	
  111
  River Street

  	
   

  	
  Hoboken

  	
   

  	
  NJ

  	
   

  	
  1

  
	
  Hub
  MA Realty Trust

  	
   

  	
  2300
  Crown Colony Drive

  	
   

  	
  Quincy

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  MA Realty Trust

  	
   

  	
  One
  Heritage Drive

  	
   

  	
  Quincy

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  MA Realty Trust

  	
   

  	
  Two
  Heritage Drive

  	
   

  	
  Quincy

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  MA Realty Trust

  	
   

  	
  111
  Powerdermill Rd.

  	
   

  	
  Maynard

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  Mid-West LLC

  	
   

  	
  1615
  Lakeside Street

  	
   

  	
  Waukegan

  	
   

  	
  IL

  	
   

  	
  1

  
	
  Hub
  Mid-West LLC

  	
   

  	
  1675
  Lakeside Drive

  	
   

  	
  Waukegan

  	
   

  	
  IL

  	
   

  	
  1

  
	
  Hub
  Mid-West LLC

  	
   

  	
  1955
  West Field Court

  	
   

  	
  Lake
  Forest

  	
   

  	
  Il

  	
   

  	
  1

  
	
  Hub
  Mid-West LLC

  	
   

  	
  1717
  Deerfield Road

  	
   

  	
  Deerfield

  	
   

  	
  IL

  	
   

  	
  1

  

 

 

	
  Hub
  Mid-West LLC

  	
   

  	
  905
  Meridian Lake Drive

  	
   

  	
  Aurora

  	
   

  	
  IL

  	
   

  	
  1

  
	
  Hub
  Properties GA LLC

  	
   

  	
  3
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  —

  
	
  Hub
  Properties GA LLC

  	
   

  	
  5
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  —

  
	
  Hub
  Properties GA LLC

  	
   

  	
  9040
  Roswell Road

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  Hub
  Properties GA LLC

  	
   

  	
  1765
  The Exchange

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  Hub
  Properties GA LLC

  	
   

  	
  115
  W. Washington Street

  	
   

  	
  Indianapolis

  	
   

  	
  IN

  	
   

  	
  1

  
	
  Hub
  Properties GA LLC

  	
   

  	
  3600
  Woodview Trace

  	
   

  	
  Indianapolis

  	
   

  	
  IN

  	
   

  	
  1

  
	
  Hub
  Properties GA LLC

  	
   

  	
  1000
  Holcomb Woods Parkway

  	
   

  	
  Roswell

  	
   

  	
  GA

  	
   

  	
  8

  
	
  Hub
  Properties GA LLC

  	
   

  	
  1775
  The Exchange

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  Hub
  Properties GA LLC

  	
   

  	
  Fidelity
  Tower II

  	
   

  	
  Carmel

  	
   

  	
  IN

  	
   

  	
  1

  
	
  Hub
  Properties GA LLC

  	
   

  	
  1339
  Executive Park Drive

  	
   

  	
  Atlanta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  Hub
  Properties GA LLC

  	
   

  	
  1775
  West Oak Commons

  	
   

  	
  Marrietta

  	
   

  	
  GA

  	
   

  	
  1

  
	
  Hub
  Properties GA LLC

  	
   

  	
  3120
  Breckinridge – 1

  	
   

  	
  Duluth

  	
   

  	
  GA

  	
   

  	
  1

  
	
  Hub
  Properties GA LLC

  	
   

  	
  3120
  Breckinridge – 2

  	
   

  	
  Duluth

  	
   

  	
  GA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  5555
  Oberlin Drive

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  2

  
	
  Hub
  Properties Trust

  	
   

  	
  5627
  Oberlin Drive

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  —

  
	
  Hub
  Properties Trust

  	
   

  	
  5601
  Oberlin Drive

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  —

  
	
  Hub
  Properties Trust

  	
   

  	
  5626
  Oberlin Drive

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  2

  
	
  Hub
  Properties Trust

  	
   

  	
  1035
  Virginia Drive

  	
   

  	
  FT.
  Washington

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  515
  Pennsylvania Ave.

  	
   

  	
  FT.
  Washington

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  723
  Dresher Road

  	
   

  	
  Horsham

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  443
  Gulph Road

  	
   

  	
  King
  of Prussia

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  100
  South Charles Street

  	
   

  	
  Baltimore

  	
   

  	
  MD

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  830
  Potomac Circle

  	
   

  	
  Aurora

  	
   

  	
  CO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  6937
  N. IH 35 North

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3043
  Walton Road

  	
   

  	
  Plymouth Meeting

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  475
  Virginia Drive

  	
   

  	
  FT.
  Washington

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  216
  Mall Blvd.

  	
   

  	
  King
  of Prussia

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1305
  Corporate Center Drive

  	
   

  	
  Eagan

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  8800
  Queen Ave South & 88th St.

  	
   

  	
  Bloomington

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  2100
  NW 82nd Ave & NW 21st St.

  	
   

  	
  Miami

  	
   

  	
  FL

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  2250
  Pilot Knob Road

  	
   

  	
  Mendota
  Heights

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  4421
  W. John Carpenter Freeway

  	
   

  	
  Irving

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1000
  Vorhees Drive

  	
   

  	
  Vorhees

  	
   

  	
  NJ

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  333
  Laurel Oak Road

  	
   

  	
  Vorhees

  	
   

  	
  NJ

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  400
  Laurel Oak Road

  	
   

  	
  Vorhees

  	
   

  	
  NJ

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  Stuart Plaza (Donahue Road)

  	
   

  	
  Greensburg

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  35
  Thorpe Avenue

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  5300
  Kings Island Drive

  	
   

  	
  Mason

  	
   

  	
  OH

  	
   

  	
  1

  

 

 

	
  Hub
  Properties Trust

  	
   

  	
  100
  Kings Hwy.

  	
   

  	
  Irondoquoit

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  802
  Delaware Ave.

  	
   

  	
  Wilmington

  	
   

  	
  DE

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  7-9
  Vreeland Road

  	
   

  	
  Florham
  Park

  	
   

  	
  NJ

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3330
  N. Washington Blvd

  	
   

  	
  Arlington

  	
   

  	
  VA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  700
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  580
  Virginia Drive

  	
   

  	
  FT.
  Washington

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  101
  Barnes Road

  	
   

  	
  Wallingford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  2800
  Eisenhower Drive

  	
   

  	
  Alexandria

  	
   

  	
  VA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3000
  Goffs Falls Road

  	
   

  	
  Manchester

  	
   

  	
  NH

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1601
  Rio Grande St.

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1525
  Locust Street

  	
   

  	
  Philadelphia

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  Suffolk Square

  	
   

  	
  Islandia

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  200
  Old County Rd.

  	
   

  	
  Minneola

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  Lincoln Center

  	
   

  	
  Syracuse

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Exchange
  Park

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  4

  
	
  Hub
  Properties Trust

  	
   

  	
  1920 &
  1930 University Drive

  	
   

  	
  Tempe

  	
   

  	
  AZ

  	
   

  	
  2

  
	
  Hub
  Properties Trust

  	
   

  	
  1001
  Jefferson Plaza

  	
   

  	
  Wilmington

  	
   

  	
  DE

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Two
  Corporate Center

  	
   

  	
  Melville

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  2444
  W. Las Palmaritas Drive

  	
   

  	
  Phoenix

  	
   

  	
  AZ

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  8701
  MOPAC

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  7100
  Northland Circle

  	
   

  	
  Minneapolis

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1000
  Shelard Parkway

  	
   

  	
  Minneapolis

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  9800
  Shelard Parkway

  	
   

  	
  Plymouth

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  525
  Park Street

  	
   

  	
  St.
  Paul

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  200
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  300
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  400
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  500
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  600
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  625
  Cherrington Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Cherrington
  Parkway

  	
   

  	
  Moon
  Township

  	
   

  	
  PA

  	
   

  	
  —

  
	
  Hub
  Properties Trust

  	
   

  	
  Randolph
  Bldg.

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Buena
  Vista Bldg.

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Lab
  Bldg.

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Sandia
  Vista Bldg.

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  960
  Harvest Run Drive Bldg A

  	
   

  	
  Blue
  Bell

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  960
  Harvest Run Drive Bldg B

  	
   

  	
  Blue
  Bell

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  960
  Harvest Run Drive Bldg C

  	
   

  	
  Blue
  Bell

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  251
  Salina Meadows Parkway

  	
   

  	
  Syracuse

  	
   

  	
  NY

  	
   

  	
  1

  

 

 

	
  Hub
  Properties Trust

  	
   

  	
  14026 &
  14030 Thunderbolt Place – 1

  	
   

  	
  Fairfax

  	
   

  	
  VA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  14026 &
  14030 Thunderbolt Place – 2

  	
   

  	
  Fairfax

  	
   

  	
  VA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  4516
  Seton Center Parkway

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3840
  South Wadsworth Blvd – 1

  	
   

  	
  Lakewood

  	
   

  	
  CO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3840
  South Wadsworth Blvd – 2

  	
   

  	
  Lakewood

  	
   

  	
  CO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  5790
  Widewaters Parkway

  	
   

  	
  DeWitt

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  9110
  East Nichols Ave

  	
   

  	
  Englewood

  	
   

  	
  CO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  11209-11211
  North Tatum Blvd

  	
   

  	
  Phoenix

  	
   

  	
  AZ

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  11201
  North Tatum Blvd

  	
   

  	
  Phoenix

  	
   

  	
  AZ

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  South Church

  	
   

  	
  Tucson

  	
   

  	
  AZ

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  9173
  Sky Park Centre

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  9177
  Sky Park Centre

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1500-1542
  Market Street

  	
   

  	
  Philadelphia

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  6160
  Kempsville Circle

  	
   

  	
  Norfolk

  	
   

  	
  VA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  373
  Inverness Drive South

  	
   

  	
  Englewood

  	
   

  	
  CO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  Constitution Way

  	
   

  	
  Foxborough

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  5555
  North Beach Street

  	
   

  	
  Ft.
  Worth

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1101
  Pacific Avenue

  	
   

  	
  Erianger

  	
   

  	
  KY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  599
  Research Parkway

  	
   

  	
  Meriden

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  20
  Cabot Ave

  	
   

  	
  Mansfield

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  100
  Hampshire Street

  	
   

  	
  Mansfield

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  575
  West Street

  	
   

  	
  Mansfield

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  50
  Cabot Blvd

  	
   

  	
  Mansfield

  	
   

  	
  MA

  	
   

  	
  —

  
	
  Hub
  Properties Trust

  	
   

  	
  100
  Northfield Drive

  	
   

  	
  Windsor

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  15
  Hampshire Street

  	
   

  	
  Mansfield

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  5
  Hampshire Street

  	
   

  	
  Mansfield

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  4411
  The 25 Way

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  4420
  The 25 Way

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  4430
  The 25 Way

  	
   

  	
  Albuquerque

  	
   

  	
  NM

  	
   

  	
  —

  
	
  Hub
  Properties Trust

  	
   

  	
  1285
  Fern Ridge Parkway

  	
   

  	
  St.
  Louis

  	
   

  	
  MO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1921
  E. Alton Ave

  	
   

  	
  Santa
  Ana

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1926
  Meyer Drury Drive

  	
   

  	
  Arnold

  	
   

  	
  MO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  448
  Viking Drive

  	
   

  	
  Virginia
  Beach

  	
   

  	
  VA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3420
  Camino del Rio North

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3430
  Camino del Rio North

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3530
  Camino del Rio North

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3550
  Camino del Rio North

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3570
  Camino del Rio North

  	
   

  	
  San
  Diego

  	
   

  	
  CA

  	
   

  	
  1

  

 

 

	
  Hub
  Properties Trust

  	
   

  	
  9715
  Key West Ave

  	
   

  	
  Rockville

  	
   

  	
  MD

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  9717
  Key West Ave

  	
   

  	
  Rockville

  	
   

  	
  MD

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  9719
  Key West Ave

  	
   

  	
  Rockville

  	
   

  	
  MD

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  4350
  Northern Pike

  	
   

  	
  Monroeville

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1601
  Dry Creek Drive

  	
   

  	
  Longmont

  	
   

  	
  CO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  167
  Sully’s Trail

  	
   

  	
  Pittsford

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  171
  Sully’s Trail

  	
   

  	
  Pittsford

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  175
  Sully’s Trail

  	
   

  	
  Pittsford

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1200
  Pittsford - Victor Road

  	
   

  	
  Pittsford

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1212
  Pittsford - Victor Road

  	
   

  	
  Pittsford

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  205
  Indigo Creek Drive

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  185
  Plains Road

  	
   

  	
  Milford

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  415
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  425
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  601
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  501
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  651
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  681
  Andersen Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  661
  Andersen Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  730
  Holiday Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  680
  Andersen Drive

  	
   

  	
  Pittsburgh

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  800
  East 101st Terrace

  	
   

  	
  Kansas
  City

  	
   

  	
  MO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3
  Crown Point Court

  	
   

  	
  Sharonville

  	
   

  	
  OH

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  9435
  Waterstone Boulevard

  	
   

  	
  Mason

  	
   

  	
  OH

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  140
  Canal View Blvd

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  180
  Canal View Blvd

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  500
  Canal View Blvd

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  777
  Canal View Blvd

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  2100
  Brighton Henrietta Town

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  2144
  Brighton Henrietta Town

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  2165
  Brighton Henrietta Town

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  2320
  Brighton Henrietta Town

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1057
  E Henrietta Road

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3144
  Winton Road South

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  150
  Bellwood Drive

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  8687
  Carling Road

  	
   

  	
  Liverpool

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  I

  	
   

  	
  Dewitt

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  II

  	
   

  	
  Dewitt

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  III

  	
   

  	
  Dewitt

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  VI

  	
   

  	
  Dewitt

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  VII

  	
   

  	
  Dewitt

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  VIII

  	
   

  	
  Dewitt

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Widewaters
  IX

  	
   

  	
  Dewitt

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  I

  	
   

  	
  Fairport

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  II

  	
   

  	
  Fairport

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  III

  	
   

  	
  Fairport

  	
   

  	
  NY

  	
   

  	
  1

  

 

 

	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  IV

  	
   

  	
  Fairport

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  V

  	
   

  	
  Fairport

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Woodcliff
  VI

  	
   

  	
  Fairport

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Enterprise
  Building

  	
   

  	
  Dewitt

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Brittonfield
  I

  	
   

  	
  East
  Syracuse

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Corporate
  Woods

  	
   

  	
  Liverpool

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Interstate
  Place I

  	
   

  	
  North
  Syracuse

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Interstate
  Place II

  	
   

  	
  North
  Syracuse

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Henry
  Clay Building

  	
   

  	
  Liverpool

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Lakeshore
  Office Building

  	
   

  	
  Liverpool

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Citizens
  Office Building

  	
   

  	
  Sherburne

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Bushnells
  Basin

  	
   

  	
  Pittsford

  	
   

  	
  NY

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  181
  Battaile Drive

  	
   

  	
  Winchester

  	
   

  	
  VA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  201
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  121
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  250
  Berryhill Road

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  111
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  101
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  100
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  220
  Executive Center Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  Cornell
  Center

  	
   

  	
  Blue
  Ash

  	
   

  	
  OH

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  West
  Park I

  	
   

  	
  St.
  Louis

  	
   

  	
  MO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1001
  East 101st Terrace

  	
   

  	
  Kansas
  City

  	
   

  	
  MO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  One
  Southern Court

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  720
  Gracern Rd, Bldg. 100

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  714
  Betsy Drive

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  720
  Gracern Rd, Bldg. 400

  	
   

  	
  Columbia

  	
   

  	
  SC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  440
  Myles Standish Blvd

  	
   

  	
  Taunton

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  470
  Myles Standish Blvd

  	
   

  	
  Taunton

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  40
  Sebethe Drive

  	
   

  	
  Cromwell

  	
   

  	
  CT

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  901
  Lakeside Ave (E. 9th Street)

  	
   

  	
  Cleveland

  	
   

  	
  OH

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1001
  Lakeside Ave

  	
   

  	
  Cleveland

  	
   

  	
  OH

  	
   

  	
  1

  

 

 

	
  Hub
  Properties Trust

  	
   

  	
  North
  Point Garage

  	
   

  	
  Cleveland

  	
   

  	
  OH

  	
   

  	
  —

  
	
  Hub
  Properties Trust

  	
   

  	
  17th
  Street Plaza

  	
   

  	
  Denver

  	
   

  	
  CO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  2001
  Wisconsin Ave

  	
   

  	
  Washington

  	
   

  	
  DC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  3300
  Whitehaven St

  	
   

  	
  Washington

  	
   

  	
  DC

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  333
  108th Avenue NE

  	
   

  	
  Bellevue

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  5073,
  5075, 5085 South Syracuse Street

  	
   

  	
  Denver

  	
   

  	
  CO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  7450
  Campus Drive

  	
   

  	
  Colorado Springs

  	
   

  	
  CO

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  777
  East Eisenhower Parkway

  	
   

  	
  Ann
  Arbor

  	
   

  	
  MI

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  789
  East Eisenhower Parkway

  	
   

  	
  Ann
  Arbor

  	
   

  	
  MI

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  18701
  Wilmington Avenue

  	
   

  	
  Carson

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  1815
  University Drive

  	
   

  	
  Carson

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  47201
  Lakeview Blvd

  	
   

  	
  Fremont

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  47211
  Lakeview Blvd

  	
   

  	
  Fremont

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  47900
  Bayside Pkway

  	
   

  	
  Fremont

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Properties Trust

  	
   

  	
  47131
  Bayside Pkway

  	
   

  	
  Fremont

  	
   

  	
  CA

  	
   

  	
  1

  
	
  Hub
  Realty College Park I, LLC

  	
   

  	
  4700
  River Road

  	
   

  	
  Riverdale
  Park

  	
   

  	
  MD

  	
   

  	
  1

  
	
  Hub
  Realty Funding, Inc.

  	
   

  	
  1474
  Rodeo Rd.

  	
   

  	
  Sante
  Fe

  	
   

  	
  NM

  	
   

  	
  1

  
	
  Hub
  Realty Funding, Inc.

  	
   

  	
  820
  W. Diamond Ave.

  	
   

  	
  Gaithersburg

  	
   

  	
  MD

  	
   

  	
  1

  
	
  Hub
  Realty Funding, Inc.

  	
   

  	
  6710
  Oxen Hill Road

  	
   

  	
  Oxen
  Hill

  	
   

  	
  MD

  	
   

  	
  1

  
	
  Indiana
  Avenue LLC

  	
   

  	
  625
  Indiana Ave.

  	
   

  	
  Washington

  	
   

  	
  DC

  	
   

  	
  1

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2833
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Lakeview
  Property Trust

  	
   

  	
  7600
  Capitol of Texas Highway – A

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Lakeview
  Property Trust

  	
   

  	
  7600
  Capitol of Texas Highway – B

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Lakeview
  Property Trust

  	
   

  	
  7600
  Capitol of Texas Highway – C

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2879
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2833
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1055
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2875
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1000
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2850
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2828
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1045
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1122
  Manunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2810
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  2886
  Paa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1052
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1024
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  LTMAC
  Properties LLC

  	
   

  	
  1030
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  733
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  

 

 

	
  Masters
  Properties LLC

  	
   

  	
  812
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2969
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2839
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2861
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2831
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2814
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2804
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  692
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  669
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2857
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2812
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  819
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2831
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  673
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2827
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  633
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Masters
  Properties LLC

  	
   

  	
  789
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2808
  Kam Hwy

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2815
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2821
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2829
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  140
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2106
  Kaliawa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2122
  Kaliawa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  151
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  204
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2810
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  944
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  918
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  1050
  Kikowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  949
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2850
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  905
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  1062
  Kikowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2829
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2841
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2819
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  1024
  Kilowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2840
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  

 

 

	
  Masters
  Properties LLC

  	
   

  	
  2830
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Masters
  Properties LLC

  	
   

  	
  2635
  Waiwai Loop A

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Masters
  Properties LLC

  	
   

  	
  2635
  Waiwai Loop B

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  MOB
  Realty Trust

  	
   

  	
  340
  Thompson Road

  	
   

  	
  Webster

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Orville
  Properties LLC

  	
   

  	
  2344
  Pahounui Dr

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Orville
  Properties LLC

  	
   

  	
  238
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Orville
  Properties LLC

  	
   

  	
  2308
  Pahounui Dr

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Orville
  Properties LLC

  	
   

  	
  2264
  Pahounui Dr

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Orville
  Properties LLC

  	
   

  	
  2276
  Pahounui Dr

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Orville
  Properties LLC

  	
   

  	
  228
  Mohonua Pl

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Orville
  Properties LLC

  	
   

  	
  214
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Orville
  Properties LLC

  	
   

  	
  120
  Sand Island Access Rd.

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Oscar
  Properties Trust

  	
   

  	
  785
  Schilinger Road South

  	
   

  	
  Mobile

  	
   

  	
  AL

  	
   

  	
  1

  
	
  Oscar
  Properties Trust

  	
   

  	
  401
  Vine Street

  	
   

  	
  Delmont

  	
   

  	
  PA

  	
   

  	
  1

  
	
  Oscar
  Properties Trust

  	
   

  	
  3003
  South Expressway 281

  	
   

  	
  Edinburg

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Oscar
  Properties Trust

  	
   

  	
  9840
  Gateway Blvd North

  	
   

  	
  El
  Paso

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Oscar
  Properties Trust

  	
   

  	
  633
  Frazier Drive

  	
   

  	
  Franklin

  	
   

  	
  TN

  	
   

  	
  1

  
	
  Oscar
  Properties Trust

  	
   

  	
  1331
  North Center Parkway

  	
   

  	
  Kennewick

  	
   

  	
  WA

  	
   

  	
  1

  
	
  Park
  San Antonio Properties Trust

  	
   

  	
  812
  San Antonio Park

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Putnam
  Place Realty Trust

  	
   

  	
  One
  Adams Place

  	
   

  	
  Quincy

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Putnam
  Place Realty Trust

  	
   

  	
  Two
  Adams Place

  	
   

  	
  Quincy

  	
   

  	
  MA

  	
   

  	
  1

  
	
  Quarry
  Lake Properties Trust

  	
   

  	
  4545
  Seton Center Parkway

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  1

  
	
  Research
  Park Properties Trust

  	
   

  	
  12501
  Research Park

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  6

  
	
  RFRI
  Properties LLC

  	
   

  	
  848
  Ala Lilikoi Blvd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  RFRI
  Properties LLC

  	
   

  	
  846
  Ala Lilikoi Blvd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Ridge
  Lake Properties LLC

  	
   

  	
  775
  Ridge Lake Blvd

  	
   

  	
  Memphis

  	
   

  	
  TN

  	
   

  	
  1

  
	
  Ridge
  Lake Properties LLC

  	
   

  	
  6060
  Primacy Parkway

  	
   

  	
  Memphis

  	
   

  	
  TN

  	
   

  	
  1

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2815
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Robin
  1 Properties LLC

  	
   

  	
  609
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2849
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2915
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  619
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2847
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  659
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2760
  Kam Hwy

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  645
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  675
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2816
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2829
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  

 

 

	
  Robin
  1 Properties LLC

  	
   

  	
  2836
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  148
  Mokauea St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2135
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  218
  Mohonua Pl

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  180
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  2250
  Pahounui Dr

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  158
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Robin
  1 Properties LLC

  	
   

  	
  228
  Mohonua Pl

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Rosedale
  Properties LLC

  	
   

  	
  2200
  Country Road CW

  	
   

  	
  Roseville

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Rosedale
  Properties LLC

  	
   

  	
  2665
  Long Lake Road

  	
   

  	
  Roseville

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Rosedale
  Properties LLC

  	
   

  	
  2675
  Long Lake Road

  	
   

  	
  Roseville

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Rosedale
  Properties LLC

  	
   

  	
  2685
  Long Lake Road

  	
   

  	
  Roseville

  	
   

  	
  MN

  	
   

  	
  1

  
	
  Tanaka
  Properties LLC

  	
   

  	
  113
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2140
  Kaliawa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  165
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2020
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2103
  Kaliawa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  1926
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Tanaka
  Properties LLC

  	
   

  	
  1391
  Kahai St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  125
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  207
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  125
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  125B
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2001
  Kahai St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2110
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  142
  Mokauea St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2139
  Kaliawa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2127
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2144
  Auiki St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Tanaka
  Properties LLC

  	
   

  	
  179
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  106
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  120
  Mokauea St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  120B
  Mokauea St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  231
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  231B
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  220
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  150
  Puuhale Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  197
  Sand Island Access Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Tanaka
  Properties LLC

  	
   

  	
  2019
  Kahai St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  

 

 

	
  TedCal
  Properties LLC

  	
   

  	
  1360
  Pali Hwy (Safeway)

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  TedCal
  Properties LLC

  	
   

  	
  1360
  Pali Hwy (Longs)

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TedCal
  Properties LLC

  	
   

  	
  33
  S. Vineyard Blvd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  709
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2839
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2906
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2850
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2864
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2806
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2838
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  852
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  855
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2855
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  865
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  719
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  759
  Puuloa Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  770
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  704
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  822
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  842
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2829
  Kaihikapu St - A

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2928
  Kaihikapu St - B

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  850
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2965
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2833
  Kilihau St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  761
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  702
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2858
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2809
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  803
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2889
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  830
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2846-A
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  697
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  808
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  659
  Puuloa Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  667
  Puuloa Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  679
  Puuloa Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  689
  Puuloa Rd

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  

 

 

	
  TSM
  Properties LLC

  	
   

  	
  2826
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  685
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2844
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2819
  Mokumoa St - A

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2819
  Mokumoa St - B

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2879
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  851
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  855
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  766
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2908
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  729
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  739
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2868
  Kaihikapu St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  660
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2869
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  TSM
  Properties LLC

  	
   

  	
  2850
  Awaawaloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  1001
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  1

  
	
  Z&A
  Properties LLC

  	
   

  	
  2864
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  2855
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  2856
  Pukoloa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  1150
  Kikowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  960
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  950
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  960
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  930
  Manunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  1038
  Kilowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  910
  Mapunapuna St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  970
  Ahua St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  1027
  Kikowaena St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  Z&A
  Properties LLC

  	
   

  	
  2960
  Mokumoa St

  	
   

  	
  Oahu

  	
   

  	
  HI

  	
   

  	
  —

  
	
  GRAND
  TOTAL

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  502

  

 

Part II (Unencumbered
Mortgage Notes)

 

None.

 

 

Loan No. 1002588

 

EXHIBIT A

 

FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This
Assignment and Assumption Agreement (the “Assignment and Assumption”) is dated
as of the Effective Date set forth below and is entered into by and between
[the][each](1) Assignor identified in item 1 below ([the][each, an] “Assignor”)
and [the][each](2) Assignee identified in item 2 below ([the][each, an] “Assignee”).  [It is understood and agreed that the rights
and obligations of [the Assignors][the Assignees](3) hereunder are several
and not joint.](4)  Capitalized terms used but not defined herein shall
have the meanings given to them in the Credit Agreement identified below (as
amended, the “Credit Agreement”), receipt of a copy of which is hereby
acknowledged by [the][each] Assignee. 
The Standard Terms and Conditions set forth in Annex 1 attached
hereto are hereby agreed to and incorporated herein by reference and made a
part of this Assignment and Assumption as if set forth herein in full.

 

For an agreed consideration,
[the][each] Assignor hereby irrevocably sells and assigns to [the Assignee][the
respective Assignees], and [the][each] Assignee hereby irrevocably purchases
and assumes from [the Assignor][the respective Assignors], subject to and in
accordance with the Standard Terms and Conditions and the Credit Agreement, as
of the Effective Date inserted by the Administrative Agent as contemplated
below (i) all of [the Assignor’s][the respective Assignors’] rights and
obligations in [its capacity as a Lender][their respective capacities as
Lenders] under the Credit Agreement and any other documents or instruments
delivered pursuant thereto to the extent related to the amount and percentage
interest identified below of all of such outstanding rights and obligations of
[the Assignor][the respective Assignors] under the respective facilities
identified below (including without limitation any guarantees included in such
facilities) and (ii) to the extent permitted to be assigned under
applicable law, all claims, suits, causes of action and any other right of [the
Assignor (in its capacity as a Lender)][the respective Assignors (in their
respective capacities as Lenders)] against any Person, whether known or
unknown, arising under or in connection with the Credit Agreement, any other
documents or instruments delivered pursuant thereto or the loan transactions
governed thereby or in any way based on or related to any of the foregoing,
including, but not limited to, contract claims, tort claims, malpractice
claims, statutory claims and all other claims at law or in equity related to
the rights and obligations sold and assigned pursuant to clause (i) above
(the rights and obligations sold and assigned by [the][any] Assignor to
[the][any] Assignee pursuant to clauses (i) and (ii) above being
referred to herein collectively as [the][an] “Assigned Interest”).  Each such sale and assignment is without
recourse to [the][any] Assignor and, except as expressly provided in this
Assignment and Assumption, without representation or warranty by [the][any]
Assignor.

 

(1)           For bracketed language here and
elsewhere in this form relating to the Assignor(s), if the assignment is from a
single Assignor, choose the first bracketed language.  If the assignment is from multiple Assignors,
choose the second bracketed language.

 

(2)           For bracketed language here and
elsewhere in this form relating to the Assignee(s), if the assignment is to a
single Assignee, choose the first bracketed language.  If the assignment is to multiple Assignees,
choose the second bracketed language.

 

(3)           Select as appropriate.

 

(4)           Include bracketed language if there
are either multiple Assignors or multiple Assignees.

 

A-1

 

	
  1.

  	
  Assignor[s]:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
  Assignee[s]:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  [for
  each Assignee, indicate [Affiliate][Approved Fund] of [identify
  Lender]

  
	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
  Borrower(s):

  	
  CommonWealth REIT

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
  Administrative
  Agent:

  	
  Wells Fargo Bank, National Association, as the
  administrative agent under the Credit Agreement

  
	
   

  	
   

  	
   

  
	
  5.

  	
  Credit
  Agreement:

  	
  The
  $750,000,000.00 Credit Agreement dated as of                   ,
  2010 among CommonWealth REIT, the
  Lenders parties thereto, Wells Fargo Bank,
  National Association, as Administrative Agent, and the other agents
  parties thereto.

  
	
   

  	
   

  	
   

  
	
  6.

  	
  Assigned
  Interest[s]:

  	
   

  
					

 

	
  Assignor[s](5)

  	
   

  	
  Assignee[s](6)

  	
   

  	
  Facility

  Assigned(7)

  	
   

  	
  Aggregate

  Amount of

  Commitment/

  Loans for all

  Lenders(8)

  	
   

  	
  Amount of

  Commitment/

  Loans

  Assigned

  	
   

  	
  Percentage

  Assigned of

  Commitment/

  Loans(9)

  	
   

  	
  CUSIP

  Number

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
   

  	
  $

  	
   

  	
   

  	
  %

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
   

  	
  $

  	
   

  	
   

  	
  %

  	
   

  	
   

  

 

	
  [7.

  	
  Trade
  Date:

  	
                                  ](10)

  

[Page break]

 

(5)           List each Assignor, as appropriate.

 

(6)           List each Assignee, as appropriate.

 

(7)           Fill in the appropriate terminology
for the types of facilities under the Credit Agreement that are being assigned
under this Assignment (e.g. “Revolving Credit Commitment” etc.)

 

(8)           Amount to be adjusted by the
counterparties to take into account any payments or prepayments made between
the Trade Date and the Effective Date.

 

(9)           Set forth, to at least 9 decimals, as
a percentage of the Commitment/Loans of all Lenders thereunder.

 

(10)         To be completed if the Assignor(s) and
the Assignee(s) intend that the minimum assignment amount is to be
determined as of the Trade Date.

 

A-2

 

Effective Date:                    
      , 20     [TO BE
INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF
RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

The
terms set forth in this Assignment and Assumption are hereby agreed to:

 

	
   

  	
  ASSIGNOR[S](11)

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  [NAME
  OF ASSIGNOR]

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  [NAME
  OF ASSIGNOR]

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE[S](12)

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  [NAME
  OF ASSIGNEE]

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [NAME
  OF ASSIGNEE]

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

 

[Page Break]

 

(11)         Add additional signature blocks as
needed.

 

(12)         Add additional signature blocks as
needed.

 

A-3

 

	
  [Consented to and](13) Accepted:

  
	
   

  	
   

  	
   

  
	
  WELLS FARGO BANK, NATIONAL
  ASSOCIATION, as Administrative Agent

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  [Consented to:](14)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  COMMONWEALTH REIT

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  

 

(13)         To be added only if the consent of the
Administrative Agent is required by the terms of the Credit Agreement.

 

(14)         Include signature of the Borrower only
if required under Section 12.6.(b) of the Credit Agreement.

 

A-4

 

ANNEX 1

 

[                             ](15)

 

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

 

1.  Representations and Warranties.

 

1.1  Assignor[s].  [The][Each] Assignor (a) represents and
warrants that (i) it is the legal and beneficial owner of [the][the relevant]
Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of
any lien, encumbrance or other adverse claim and (iii) it has full power
and authority, and has taken all action necessary, to execute and deliver this
Assignment and Assumption and to consummate the transactions contemplated
hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the
Credit Agreement or any other Loan Document, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Loan
Documents or any collateral thereunder, (iii) the financial condition of
the Borrower, any of its Subsidiaries or Affiliates or any other Person
obligated in respect of any Loan Document or (iv) the performance or
observance by the Borrower, any of its Subsidiaries or Affiliates or any other
Person of any of their respective obligations under any Loan Document.

 

1.2.  Assignee[s].  [The][Each] Assignee (a) represents and
warrants that (i) it has full power and authority, and has taken all
action necessary, to execute and deliver this Assignment and Assumption and to
consummate the transactions contemplated hereby and to become a Lender under
the Credit Agreement, (ii) it meets all the requirements to be an Eligible
Assignee as defined in the Credit Agreement (subject to such consents, if any,
as may be required under such definition), (iii) from and after the
Effective Date specified for this Assignment and Assumption, it shall be bound
by the provisions of the Credit Agreement as a Lender thereunder and, to the
extent of [the][the relevant] Assigned Interest, shall have the obligations of
a Lender thereunder, (iv) it is sophisticated with respect to decisions to
acquire assets of the type represented by the Assigned Interest and either it,
or the person exercising discretion in making its decision to acquire the
Assigned Interest, is experienced in acquiring assets of such type, (v) it
has received a copy of the Credit Agreement, and has received or has been
accorded the opportunity to receive copies of the financial statements
referenced in Section 6.1.(k) thereof or of the most recent financial
statements delivered pursuant to Section 8.1 or 8.2. thereof, as
applicable, and such other documents and information as it deems appropriate to
make its own credit analysis and decision to enter into this Assignment and
Assumption and to purchase [the][such] Assigned Interest, (vi) it has,
independently and without reliance upon the Administrative Agent, the Assignor
or any other Lender and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into
this Assignment and Assumption and to purchase [the][such] Assigned Interest,
and (vii) if it is a Foreign Lender, attached to the Assignment and
Assumption is any documentation required to be delivered by it pursuant to the
terms of the Credit Agreement, duly completed and executed by [the][such]
Assignee; and (b) agrees that (i) it will, independently and without
reliance on the Administrative Agent, [the][any] Assignor or any other Lender,
and based on such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will

 

(15)         Describe Credit Agreement at option of
Administrative Agent.

 

A-5

 

perform
in accordance with their terms all of the obligations which by the terms of the
Loan Documents are required to be performed by it as a Lender.

 

2.  Payments.  From and after the Effective Date, the
Administrative Agent shall make all payments in respect of [the][each] Assigned
Interest (including payments of principal, interest, fees and other amounts) to
[the][the relevant] Assignee whether such amounts have accrued prior to, on or after the Effective Date
specified for this Assignment and Assumption. 
The Assignor[s] and the Assignee[s] shall make all appropriate adjustments
in payments by the Administrative Agent for periods prior to such Effective
Date or with respect to the making of this assignment directly between
themselves.

 

3.  General Provisions.  This Assignment and Assumption shall be
binding upon, and inure to the benefit of, the parties hereto and their
respective successors and assigns.  This
Assignment and Assumption may be executed in any number of counterparts, which
together shall constitute one instrument. 
Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by telecopy shall be effective as delivery of a
manually executed counterpart of this Assignment and Assumption.  This Assignment and Assumption shall be
governed by, and construed in accordance with, the law of the State of New
York.

 

A-6

 

EXHIBIT B

 

FORM OF GUARANTY

 

THIS
GUARANTY dated as of August 9, 2010 executed and delivered by each of the
undersigned and the other Persons from time to time party hereto pursuant to
the execution and delivery of an Accession Agreement in the form of Annex I
hereto (all of the undersigned, together with such other Persons each a “Guarantor”
and collectively, the “Guarantors”) in favor of WELLS FARGO BANK, NATIONAL
ASSOCIATION, in its capacity as Administrative Agent (the “Administrative Agent”)
for the Lenders under that certain Credit Agreement dated as of August 9,
2010 (as amended, restated, supplemented or otherwise modified from time to
time, the “Credit Agreement”), by and among CommonWealth REIT, a Maryland real
estate investment trust (the “Borrower”), the financial institutions party
thereto and their assignees under Section 12.6. thereof (the “Lenders”),
the Administrative Agent, and the other parties thereto, for its benefit and
the benefit of the Lenders, and the Issuing Bank (the Administrative Agent, the
Lenders, the Swingline Lender, and the Issuing Bank, each individually a “Guarantied
Party” and collectively, the “Guarantied Parties”).

 

WHEREAS,
pursuant to the Credit Agreement, the Administrative Agent, the Issuing Bank,
the Swingline Lender and the Lenders have agreed to make available to the
Borrower certain financial accommodations on the terms and conditions set forth
in the Credit Agreement;

 

WHEREAS,
each Guarantor is owned or controlled by the Borrower, or is otherwise an
Affiliate of the Borrower;

 

WHEREAS,
the Borrower and each Guarantor, though separate legal entities, are mutually
dependent on each other in the conduct of their respective businesses as an
integrated operation and have determined it to be in their mutual best interests
to obtain financing from the Administrative Agent, the Lenders, the Swingline
Lender, and the Issuing Bank through their collective efforts;

 

WHEREAS,
each Guarantor acknowledges that it will receive direct and indirect benefits
from the Administrative Agent, the Lenders, the Swingline Lender and the
Issuing Bank making such financial accommodations available to the Borrower
under the Credit Agreement and, accordingly, each Guarantor is willing to
guarantee the Borrower’s obligations to the Administrative Agent, the Lenders,
the Swingline Lender and the Issuing Bank on the terms and conditions contained
herein; and

 

WHEREAS,
each Guarantor’s execution and delivery of this Guaranty is a condition to the
Administrative Agent and the other Guarantied Parties’ making, and continuing
to make, such financial accommodations to the Borrower.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged by each Guarantor, each Guarantor agrees as
follows:

 

Section 1.  Guaranty.  Each Guarantor hereby absolutely, irrevocably
and unconditionally guaranties the due and punctual payment and performance
when due, whether at stated maturity, by acceleration or otherwise, of all of
the following (collectively referred to as the “Guarantied Obligations”): (a) all
indebtedness and obligations owing by the Borrower or any other Loan Party to
any Lender or the Administrative Agent under or in connection with the Credit
Agreement and any other Loan Document to which the Borrower or such other Loan
Party is a party, including without limitation, the repayment of all principal
of the Revolving Loans and Swingline Loans, and the Reimbursement Obligations,
and the payment of all interest, fees, charges, reasonable attorneys’ fees and
other amounts

 

B-1

 

payable
to any Lender, the Issuing Bank or the Administrative Agent thereunder or in
connection therewith; (b) any and all extensions, renewals, modifications,
amendments or substitutions of the foregoing; (c) all expenses, including,
without limitation, reasonable attorneys’ fees and disbursements, that are
incurred by the Administrative Agent or any other Guarantied Party in the
enforcement of any of the foregoing or any obligation of such Guarantor
hereunder and (d) all other Obligations.

 

Section 2.  Guaranty of Payment and Not of Collection.  This Guaranty is a guaranty of payment, and
not of collection, and a debt of each Guarantor for its own account.  Accordingly, the Guarantied Parties shall not
be obligated or required before enforcing this Guaranty against any Guarantor: (a) to
pursue any right or remedy the Guarantied Parties may have against the
Borrower, any other Loan Party or any other Person or commence any suit or other
proceeding against the Borrower, any other Loan Party or any other Person in
any court or other tribunal; (b) to make any claim in a liquidation or
bankruptcy of the Borrower, any other Loan Party or any other Person; or (c) to
make demand of the Borrower, any other Loan Party or any other Person or to
enforce or seek to enforce or realize upon any collateral security held by the
Guarantied Parties which may secure any of the Guarantied Obligations.

 

Section 3.  Guaranty Absolute.  Each Guarantor guarantees that the Guarantied
Obligations will be paid strictly in accordance with the terms of the documents
evidencing the same, regardless of any Applicable Law now or hereafter in
effect in any jurisdiction affecting any of such terms or the rights of the Guarantied
Parties with respect thereto.  The
liability of each Guarantor under this Guaranty shall be absolute, irrevocable
and unconditional in accordance with its terms and shall remain in full force
and effect without regard to, and shall not be released, suspended, discharged,
terminated or otherwise affected by, any circumstance or occurrence whatsoever,
including without limitation, the following (whether or not such Guarantor
consents thereto or has notice thereof):

 

(a)           (i) any change in the amount,
interest rate or due date or other term of any of the Guarantied Obligations, (ii) any
change in the time, place or manner of payment of all or any portion of the
Guarantied Obligations, (iii) any amendment or waiver of, or consent to
the departure from or other indulgence with respect to, the Credit Agreement,
any other Loan Document, or any other document or instrument evidencing or
relating to any Guarantied Obligations, or (iv) any waiver, renewal,
extension, addition, or supplement to, or deletion from, or any other action or
inaction under or in respect of, the Credit Agreement, any of the other Loan
Documents, or any other documents, instruments or agreements relating to the
Guarantied Obligations or any other instrument or agreement referred to therein
or evidencing any Guarantied Obligations or any assignment or transfer of any
of the foregoing;

 

(b)           any lack of validity or
enforceability of the Credit Agreement, any of the
other Loan Documents  or any other
document, instrument or agreement referred to therein or evidencing any
Guarantied Obligations or any assignment or transfer of any of the foregoing;

 

(c)           any furnishing to the Guarantied
Parties of any security for the Guarantied Obligations, or any sale, exchange,
release or surrender of, or realization on, any collateral securing any of the
Guarantied Obligations;

 

(d)           any settlement or compromise of any
of the Guarantied Obligations, any security therefor, or any liability of any
other party with respect to the Guarantied Obligations, or any subordination of
the payment of the Guarantied Obligations to the payment of any other liability
of the Borrower or any other Loan Party;

 

B-2

 

(e)           any bankruptcy, insolvency,
reorganization, composition, adjustment, dissolution, liquidation or other like
proceeding relating to such Guarantor, the Borrower, any other Loan Party or
any other Person, or any action taken with respect to this Guaranty by any
trustee or receiver, or by any court, in any such proceeding;

 

(f)            any act or failure to act by the
Borrower, any other Loan Party or any other Person which may adversely affect
such Guarantor’s subrogation rights, if any, against the Borrower to recover
payments made under this Guaranty;

 

(g)           any nonperfection or impairment of
any security interest or other Lien on any collateral, if any, securing in any
way any of the Guarantied Obligations;

 

(h)           any application of sums paid by the
Borrower, any Guarantor or any other Person with respect to the liabilities of
the Borrower to the Guarantied Parties, regardless of what liabilities of the
Borrower remain unpaid;

 

(i)            any defect, limitation or
insufficiency in the borrowing powers of the Borrower or in the exercise
thereof;

 

(j)            any defense, set off, claim or
counterclaim (other than indefeasible payment and performance in full) which
may at any time be available to or be asserted by the Borrower, any other Loan
party or any other Person against the Administrative Agent or any Lender;

 

(k)           any change in corporate existence,
structure or ownership of the Borrower or any other Loan Party;

 

(l)            any statement, representation or
warranty made or deemed made by or on behalf of the Borrower, any Guarantor or
any other Loan Party under any Loan Document, or any amendment hereto or
thereto, proves to have been incorrect or misleading in any respect; or

 

(m)          any other circumstance which might
otherwise constitute a defense available to, or a discharge of, a Guarantor
hereunder (other than indefeasible payment in full).

 

Section 4.  Action with Respect to Guarantied
Obligations.  The Guaranteed Parties
may, at any time and from time to time, without the consent of, or notice to,
any Guarantor, and without discharging any Guarantor from its obligations
hereunder, take any and all actions described in Section 3. and may
otherwise: (a) amend, modify, alter or supplement the terms of any of the
Guarantied Obligations, including, but not limited to, extending or shortening
the time of payment of any of the Guarantied Obligations or changing the
interest rate that may accrue on any of the Guarantied Obligations;
(b) amend, modify, alter or supplement the Credit Agreement or any other
Loan Document; (c) sell, exchange, release or otherwise deal with all, or
any part, of any collateral securing any of the Guarantied Obligations; (d) release
any Loan Party or other Person liable in any manner for the payment or
collection of the Guarantied Obligations; (e) exercise, or refrain from
exercising, any rights against the Borrower, any other Loan Party or any other
Person; and (f) apply any sum, by whomsoever paid or however realized, to
the Guarantied Obligations in such order as the Guarantied Parties shall elect.

 

Section 5.  Representations and Warranties.  Each Guarantor hereby makes to the Administrative
Agent and the other Guarantied Parties all of the representations and
warranties made by the Borrower with respect to or in any way relating to such
Guarantor in the Credit Agreement and the other Loan Documents, as if the same
were set forth herein in full.

 

B-3

 

Section 6.  Covenants.  Each Guarantor will comply with all covenants
with which the Borrower is to cause such Guarantor to comply under the terms of
the Credit Agreement or any of the other Loan Documents.

 

Section 7.  Waiver.  Each Guarantor, to the fullest extent
permitted by Applicable Law, hereby waives notice of acceptance hereof or any
presentment, demand, protest or notice of any kind, and any other act or thing,
or omission or delay to do any other act or thing, which in any manner or to
any extent might vary the risk of such Guarantor or which otherwise might
operate to discharge such Guarantor from its obligations hereunder.

 

Section 8.  Inability to Accelerate Loan.  If the Guarantied Parties or any of them are
prevented under Applicable Law or otherwise from demanding or accelerating
payment of any of the Guarantied Obligations by reason of any automatic stay or
otherwise, the Administrative Agent and/or the other Guarantied Parties shall
be entitled to receive from each Guarantor, upon demand therefor, the sums
which otherwise would have been due had such demand or acceleration occurred.

 

Section 9.  Reinstatement of Guarantied Obligations.  If claim is ever made on the Administrative
Agent or any other Guarantied Party for repayment or recovery of any amount or
amounts received in payment or on account of any of the Guarantied Obligations,
and the Administrative Agent or such other Guarantied Party repays all or part
of said amount by reason of (a) any judgment, decree or order of any court
or administrative body of competent jurisdiction, or (b) any settlement or
compromise of any such claim effected by the Administrative Agent or such other
Guarantied Party with any such claimant (including the Borrower or a trustee in
bankruptcy for the Borrower), then and in such event each Guarantor agrees that
any such judgment, decree, order, settlement or compromise shall be binding on
it, notwithstanding any revocation hereof or the cancellation of the Credit
Agreement, any of the other Loan Documents, or any other instrument evidencing
any liability of the Borrower, and such Guarantor shall be and remain liable to
the Administrative Agent or such other Guarantied Party for the amounts so repaid
or recovered to the same extent as if such amount had never originally been
paid to the Administrative Agent or such other Guarantied Party.

 

Section 10.  Subrogation.  Upon the making by any Guarantor of any
payment hereunder for the account of the Borrower, such Guarantor shall be
subrogated to the rights of the payee against the Borrower; provided, however,
that such Guarantor shall not enforce any right or receive any payment by way
of subrogation or otherwise take any action in respect of any other claim or
cause of action such Guarantor may have against the Borrower arising by reason
of any payment or performance by such Guarantor pursuant to this Guaranty,
unless and until all of the Guarantied Obligations have been indefeasibly paid
and performed in full.  If any amount
shall be paid to such Guarantor on account of or in respect of such subrogation
rights or other claims or causes of action, such Guarantor shall hold such
amount in trust for the benefit of the Guarantied Parties and shall forthwith
pay such amount to the Administrative Agent to be credited and applied against
the Guarantied Obligations, whether matured or unmatured, in accordance with
the terms of the Credit Agreement or to be held by the Administrative Agent as
collateral security for any Guarantied Obligations existing.

 

Section 11.
Payments Free and Clear.  All sums
payable by each Guarantor hereunder, whether of principal, interest, fees,
expenses, premiums or otherwise, shall be paid in full, without set-off or
counterclaim or any deduction or withholding whatsoever (including any Taxes),
and if such Guarantor is required by Applicable Law or by any Governmental
Authority to make any such deduction or withholding such Guarantor shall pay to
the Administrative Agent and the Lenders such additional

 

B-4

 

amount
as will result in the receipt by the Administrative Agent and the Lenders of
the full amount payable hereunder had such deduction or withholding not
occurred or been required.

 

Section 12.  Set-off.  In addition to any rights now or hereafter
granted under any of the other Loan Documents or Applicable Law and not by way
of limitation of any such rights, each Guarantor hereby authorizes each
Guarantied Party and each Participant, at any time while an Event of Default
exists, without any prior notice to such Guarantor or to any other Person, any
such notice being hereby expressly waived, but in the case of a Lender, the
Issuing Bank or a Participant subject to receipt of the prior written consent
of the Administrative Agent in its sole discretion, to set-off and to
appropriate and to apply any and all deposits (general or special, including,
but not limited to, indebtedness evidenced by certificates of deposit, whether
matured or unmatured) and any other indebtedness at any time held or owing by
the Administrative Agent, the Issuing Bank, such Lender or such Participant or
any affiliate of the Administrative Agent, the Issuing Bank, such Lender or
such Participant to or for the credit or the account of such Guarantor against
and on account of any of the Guarantied Obligations, although such obligations
shall be contingent or unmatured.  Each
Guarantor agrees, to the fullest extent permitted by Applicable Law, that any
Participant may exercise rights of setoff or counterclaim and other rights with
respect to its participation as fully as if such Participant were a direct
creditor of such Guarantor in the amount of such participation.

 

Section 13.  Subordination.  Each Guarantor hereby expressly covenants and
agrees for the benefit of the Guarantied Parties that all obligations and
liabilities of the Borrower to such Guarantor of whatever description,
including without limitation, all intercompany receivables of such Guarantor
from the Borrower (collectively, the “Junior Claims”) shall be subordinate and
junior in right of payment to all Guarantied Obligations.  If an Event of Default shall exist, then no
Guarantor shall accept any direct or indirect payment (in cash, property or
securities, by setoff or otherwise) from the Borrower on account of or in any
manner in respect of any Junior Claim until all of the Guarantied Obligations
have been indefeasibly paid in full.

 

Section 14.  Avoidance Provisions.  It is the intent of each Guarantor, the
Administrative Agent and the other Guarantied Parties that in any Proceeding,
such Guarantor’s maximum obligation hereunder shall equal, but not exceed, the
maximum amount which would not otherwise cause the obligations of such
Guarantor hereunder (or any other obligations of such Guarantor to the
Guarantied Parties) to be avoidable or unenforceable against such Guarantor in
such Proceeding as a result of Applicable Law, including without limitation, (a) Section 548
of the Bankruptcy Code of 1978, as amended (the “Bankruptcy Code”) and (b) any
state fraudulent transfer or fraudulent conveyance act or statute applied in
such Proceeding, whether by virtue of Section 544 of the Bankruptcy Code
or otherwise.  The Applicable Laws under
which the possible avoidance or unenforceability of the obligations of such
Guarantor hereunder (or any other obligations of such Guarantor to the
Guarantied Parties) shall be determined in any such Proceeding are referred to
as the “Avoidance Provisions”. 
Accordingly, to the extent that the obligations of any Guarantor
hereunder would otherwise be subject to avoidance under the Avoidance
Provisions, the maximum Guarantied Obligations for which such Guarantor shall
be liable hereunder shall be reduced to that amount which, as of the time any
of the Guarantied Obligations are deemed to have been incurred under the
Avoidance Provisions, would not cause the obligations of such Guarantor
hereunder (or any other obligations of such Guarantor to the Guarantied
Parties), to be subject to avoidance under the Avoidance Provisions.  This Section is intended solely to
preserve the rights of the Administrative Agent and the other Guarantied
Parties hereunder to the maximum extent that would not cause the obligations of
any Guarantor hereunder to be subject to avoidance under the Avoidance
Provisions, and no Guarantor or any other Person shall have any right or claim
under this Section as against the Guarantied Parties that would not
otherwise be available to such Person under the Avoidance Provisions.

 

B-5

 

Section 15.  Information.  Each Guarantor assumes all responsibility for
being and keeping itself informed of the financial condition of the Borrower
and the other Loan Parties, and of all other circumstances bearing upon the
risk of nonpayment of any of the Guarantied Obligations and the nature, scope
and extent of the risks that such Guarantor assumes and incurs hereunder, and
agrees that neither the Administrative Agent nor any other Guarantied Party
shall have any duty whatsoever to advise any Guarantor of information regarding
such circumstances or risks.

 

Section 16.  Governing Law.  THIS GUARANTY SHALL BE GOVERNED BY, AND
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY PERFORMED, IN SUCH
STATE.

 

SECTION 17.  WAIVER OF JURY TRIAL.

 

(a)           EACH GUARANTOR, AND EACH OF THE
ADMINISTRATIVE AGENT AND THE OTHER GUARANTIED PARTIES BY ACCEPTING THE BENEFITS
HEREOF, ACKNOWLEDGES THAT ANY DISPUTE OR CONTROVERSY BETWEEN SUCH GUARANTOR,
THE ADMINISTRATIVE AGENT OR ANY OF THE OTHER GUARANTIED PARTES WOULD BE BASED
ON DIFFICULT AND COMPLEX ISSUES OF LAW AND FACT AND WOULD RESULT IN DELAY AND
EXPENSE TO THE PARTIES.  ACCORDINGLY, TO
THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE GUARANTORS, THE
ADMINISTRATIVE AGENT AND THE OTHER GUARANTIED PARTIES HEREBY WAIVES ITS RIGHT
TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING OF ANY KIND OR NATURE IN ANY
COURT OR TRIBUNAL IN WHICH AN ACTION MAY BE COMMENCED BY OR AGAINST ANY
PARTY HERETO ARISING OUT OF THIS GUARANTY.

 

(b)           EACH GUARANTOR, AND EACH OF THE
ADMINISTRATIVE AGENT AND THE OTHER GUARANTIED PARTIES BY ACCEPTING THE BENEFITS
HEREOF, HEREBY AGREES THAT ANY FEDERAL DISTRICT COURT LOCATED IN THE SOUTHERN
DISTRICT OF NEW YORK AND ANY STATE COURT LOCATED IN NEW YORK, NEW YORK SHALL
HAVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN OR AMONG
THE GUARANTORS, THE ADMINISTRATIVE AGENT OR ANY OF THE OTHER GUARANTIED PARTIES,
PERTAINING DIRECTLY OR INDIRECTLY TO THIS GUARANTY.  EACH GUARANTOR AND EACH OF THE GUARANTIED
PARTIES EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY
ACTION OR PROCEEDING COMMENCED IN SUCH COURTS. 
EACH PARTY FURTHER WAIVES ANY OBJECTION THAT IT MAY NOW OR
HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT
OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT FORUM AND EACH
AGREES NOT TO PLEAD OR CLAIM THE SAME. 
THE CHOICE OF FORUM SET FORTH IN THIS SECTION SHALL NOT BE DEEMED
TO PRECLUDE THE BRINGING OF ANY ACTION BY THE ADMINISTRATIVE AGENT OR ANY OTHER
GUARANTIED PARTY OR THE ENFORCEMENT BY THE ADMINISTRATIVE AGENT OR ANY OTHER
GUARANTIED PARTY OF ANY JUDGMENT OBTAINED IN SUCH FORUM IN ANY OTHER
APPROPRIATE JURISDICTION.

 

(c)           THE PROVISIONS OF THIS SECTION HAVE
BEEN CONSIDERED BY EACH PARTY WITH THE ADVICE OF COUNSEL AND WITH A FULL
UNDERSTANDING OF THE LEGAL CONSEQUENCES THEREOF, AND SHALL SURVIVE THE PAYMENT
OF THE LOANS AND ALL OTHER AMOUNTS PAYABLE HEREUNDER OR UNDER THE OTHER LOAN

 

B-6

 

DOCUMENTS,
THE TERMINATION, CANCELLATION OR EXPIRATION OF ALL LETTERS OF CREDIT AND THE
TERMINATION OF THIS GUARANTY.

 

Section 18.  Loan Accounts.  The Administrative Agent and each Lender and
the Swingline Lender may maintain books and accounts setting forth the amounts
of principal, interest and other sums paid and payable with respect to the
Guarantied Obligations arising under or in connection with the Credit
Agreement, and in the case of any dispute relating to any of the outstanding
amount, payment or receipt of any of such Guarantied Obligations or otherwise,
the entries in such books and accounts shall constitute prima facie evidence of
the amounts and other matters set forth therein.  The failure of the Administrative Agent, the
Swingline Lender or any Lender to maintain such books and accounts shall not in
any way relieve or discharge any Guarantor of any of its obligations hereunder.

 

Section 19.  Waiver of Remedies.  No delay or failure on the part of the
Administrative Agent or any other Guarantied Party in the exercise of any right
or remedy it may have against any Guarantor hereunder or otherwise shall
operate as a waiver thereof, and no single or partial exercise by the
Administrative Agent or any other Guarantied Party of any such right or remedy
shall preclude any other or further exercise thereof or the exercise of any
other such right or remedy.

 

Section 20.  Termination.  This Guaranty shall remain in full force and
effect with respect to each Guarantor until indefeasible payment in full of the
Guarantied Obligations and the other Obligations and the termination or
cancellation of the Credit Agreement and all Specified Derivatives Contracts in
accordance with their respective terms and the termination, cancellation or
expiration of all Letters of Credit.

 

Section 21.  Successors and Assigns.  Each reference herein to the Administrative
Agent or any other Guarantied Party shall be deemed to include such Person’s
respective successors and assigns (including, but not limited to, any holder of
the Guarantied Obligations) in whose favor the provisions of this Guaranty also
shall inure, and each reference herein to each Guarantor shall be deemed to include
such Guarantor’s successors and assigns, upon whom this Guaranty also shall be
binding.  The Guarantied Parties may, in
accordance with the applicable provisions of the Credit Agreement, assign,
transfer or sell any Guarantied Obligation, or grant or sell participations in
any Guarantied Obligations, to any Person without the consent of, or notice to,
any Guarantor and without releasing, discharging or modifying any Guarantor’s
obligations hereunder.  Each Guarantor
hereby consents to the delivery by the Administrative Agent or any other
Guarantied Party to any Assignee or Participant (or any prospective Assignee or
Participant) of any financial or other information regarding the Borrower or
any Guarantor.  No Guarantor may assign
or transfer its rights or obligations hereunder to any Person without the prior
written consent of all Lenders and any such assignment or other transfer to
which all of the Lenders have not so consented shall be null and void.

 

Section 22.  JOINT AND SEVERAL OBLIGATIONS.  THE OBLIGATIONS OF THE GUARANTORS HEREUNDER
SHALL BE JOINT AND SEVERAL, AND, ACCORDINGLY, EACH GUARANTOR CONFIRMS THAT IT
IS LIABLE FOR THE FULL AMOUNT OF THE “GUARANTIED OBLIGATIONS” AND ALL OF THE
OBLIGATIONS AND LIABILITIES OF EACH OF THE OTHER GUARANTORS HEREUNDER.

 

Section 23.  Amendments.  This Guaranty may not be amended except in
writing signed by the Administrative Agent and each Guarantor, subject to Section 12.7.
of the Credit Agreement.

 

B-7

 

Section 24.  Payments.  All payments to be made by any Guarantor
pursuant to this Guaranty shall be made in Dollars, in immediately available
funds to the Administrative Agent at its Principal Office, not later than 12:00 p.m.
Eastern time, on the date one Business Day after demand therefor.

 

Section 25.  Notices.  All notices, requests and other
communications hereunder shall be in writing (including facsimile transmission
or similar writing) and shall be given (a) to each Guarantor at its
address set forth below its signature hereto, (b) to the Administrative
Agent or any other Guarantied Party at its address for notices provided for in
the Credit Agreement or Specified Derivatives Contract, as applicable, or (c) as
to each such party at such other address as such party shall designate in a
written notice to the other parties. 
Each such notice, request or other communication shall be effective (i) if
mailed, when received; (ii) if telecopied, when transmitted; or (iii) if
hand delivered, when delivered; provided, however, that any
notice of a change of address for notices shall not be effective until
received.

 

Section 26.  Severability.  In case any provision of this Guaranty shall
be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby.

 

Section 27.  Headings.  Section headings used in this Guaranty
are for convenience only and shall not affect the construction of this
Guaranty.

 

Section 28.  Trustees, Etc. Not Liable.

 

IN
THE CASE OF ANY GUARANTOR THAT IS A TRUST, NO TRUSTEE, OFFICER, SHAREHOLDER,
EMPLOYEE OR AGENT OF SUCH GUARANTOR SHALL BE HELD TO ANY PERSONAL LIABILITY,
JOINTLY OR SEVERALLY, FOR ANY OBLIGATION OF, OR CLAIM AGAINST, SUCH GUARANTOR.  ALL PERSONS DEALING WITH SUCH GUARANTOR, IN
ANY WAY, SHALL LOOK ONLY TO THE ASSETS OF SUCH GUARANTOR FOR THE PAYMENT OF ANY
SUM OR THE PERFORMANCE OF ANY OBLIGATION OWING BY SUCH GUARANTOR HEREUNDER. THE
PROVISIONS OF THIS SECTION SHALL NOT LIMIT ANY OBLIGATIONS OF ANY LOAN
PARTY.

 

Section 29.  Limitation of Liability.    Neither the Administrative Agent nor any
other Guarantied Party, nor any affiliate, officer, director, employee,
attorney, or agent of the Administrative Agent or any other Guarantied Party,
shall have any liability with respect to, and each Guarantor hereby waives,
releases, and agrees not to sue any of them upon, any claim for any special,
indirect, incidental, or consequential damages suffered or incurred by a
Guarantor in connection with, arising out of, or in any way related to, this
Guaranty or any of the other Loan Documents, or any of the transactions
contemplated by this Guaranty, the Credit Agreement or any of the other Loan
Documents.  Each Guarantor hereby waives,
releases, and agrees not to sue the Administrative Agent or any other
Guarantied Party or any of the Administrative Agent’s or any other Guarantied
Party’s affiliates, officers, directors, employees, attorneys, or agents for
punitive damages in respect of any claim in connection with, arising out of, or
in any way related to, this Guaranty, the Credit Agreement or any of the other
Loan Documents, or any of the transactions contemplated by thereby.

 

Section 30.  Electronic Delivery of Certain Information.  Each Guarantor acknowledges and agrees that
information regarding the Guarantor may be delivered electronically pursuant to
Section 8.5. of the Credit Agreement.

 

B-8

 

Section 31.  Definitions. (a) For the purposes
of this Guaranty:

 

“Proceeding”
means any of the following: (i) a voluntary or involuntary case concerning
any Guarantor shall be commenced under the Bankruptcy Code of 1978, as amended;
(ii) a custodian (as defined in such Bankruptcy Code or any other applicable
bankruptcy laws) is appointed for, or takes charge of, all or any substantial
part of the property of any Guarantor;   (iii) any
other proceeding under any Applicable Law, domestic or foreign, relating to
bankruptcy, insolvency, reorganization, winding-up or composition for
adjustment of debts, whether now or hereafter in effect, is commenced relating
to any Guarantor; (iv) any Guarantor is adjudicated insolvent or bankrupt;
(v) any order of relief or other order approving any such case or
proceeding is entered by a court of competent jurisdiction; (vi) any
Guarantor makes a general assignment for the benefit of creditors; (vii) any
Guarantor shall fail to pay, or shall state that it is unable to pay, or shall
be unable to pay, its debts generally as they become due; (viii) any
Guarantor shall call a meeting of its creditors with a view to arranging a
composition or adjustment of its debts; (ix) any Guarantor shall by any
act or failure to act indicate its consent to, approval of or acquiescence in
any of the foregoing; or (x) any corporate action shall be taken by any
Guarantor for the purpose of effecting any of the foregoing.

 

(b)           Terms not otherwise defined herein
are used herein with the respective meanings given them in the Credit
Agreement.

 

[Signatures on Following Page]

 

B-9

 

IN
WITNESS WHEREOF, each Guarantor has duly executed and delivered this Guaranty
as of the date and year first written above.

 

	
   

  	
   

  	
  [GUARANTORS]

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address
  for Notices for all Guarantors:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  c/o
  CommonWealth REIT

  
	
   

  	
   

  	
  400
  Centre Street

  
	
   

  	
   

  	
  Newton,
  Massachusetts 02458

  
	
   

  	
   

  	
  Attention:

  	
  Chief
  Financial Officer

  
	
   

  	
   

  	
  Telecopier:

  	
  (617)
  332-2261

  
	
   

  	
   

  	
  Telephone:

  	
  (617)
  332-3990

  
						

 

B-10

 

ANNEX I

 

FORM OF ACCESSION
AGREEMENT

 

THIS
ACCESSION AGREEMENT dated as of                   ,
       , executed and delivered by                                                 ,
a                          
(the “New Guarantor”) in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION, in
its capacity as Administrative Agent (the “Administrative Agent”) for the
Lenders under that certain Credit Agreement dated as of August 9, 2010 (as
amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among CommonWealth REIT, a Maryland real estate investment
trust (the “Borrower”), the financial institutions party thereto and their
assignees under Section 12.6. thereof (the “Lenders”), Wells Fargo Bank,
National Association, as Administrative Agent (the “Administrative Agent”), and
the other parties thereto, for its benefit and the benefit of the Lenders, the
Swingline Lender, and  the Issuing
Bank (the Administrative Agent, the Lenders, the Issuing Bank, and the
Specified Derivatives Providers, each individually a “Guarantied Party” and
collectively, the “Guarantied Parties”).

 

WHEREAS,
pursuant to the Credit Agreement, the Administrative Agent, the Swingline
Lender, the Issuing Bank and the Lenders have agreed to make available to the
Borrower certain financial accommodations on the terms and conditions set forth
in the Credit Agreement;

 

WHEREAS,
New Guarantor is owned or controlled by the Borrower, or is otherwise an
Affiliate of the Borrower;

 

WHEREAS,
the Borrower, the New Guarantor and the existing Guarantors of the Borrower,
though separate legal entities, are mutually dependent on each other in the
conduct of their respective businesses as an integrated operation and have
determined it to be in their mutual best interests to obtain financing from the
Administrative Agent, the Lenders and the Issuing Bank through their collective
efforts;

 

WHEREAS,
New Guarantor acknowledges that it will receive direct and indirect benefits
from the Administrative Agent, the Swingline Lender, the Lenders and the
Issuing Bank making such financial accommodations available to the Borrower
under the Credit Agreement and, accordingly, New Guarantor is willing to
guarantee the Borrower’s obligations to the Administrative Agent, the Lenders
and the Issuing Bank on the terms and conditions contained herein; and

 

WHEREAS,
the New Guarantor’s execution and delivery of this Agreement is a condition to
the Administrative Agent and the Lenders continuing to make such financial
accommodations to the Borrower.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged by the New Guarantor, the New Guarantor agrees as
follows:

 

Section 1.  Accession to Guaranty.  The New Guarantor hereby agrees that it is a “Guarantor”
under the Guaranty dated as of August 9, 2010 (as amended, restated or
otherwise modified from time to time, the “Guaranty”), made by the Guarantors
party thereto in favor of the Administrative Agent, for its benefit and the
benefit of the other Guarantied Parties, and assumes all obligations of a “Guarantor”
thereunder, all as if the New Guarantor had been an original signatory to the
Guaranty.  Without limiting the
generality of the foregoing, the New Guarantor hereby:

 

B-11

 

(a)           irrevocably and unconditionally
guarantees the due and punctual payment and performance when due, whether at
stated maturity, by acceleration or otherwise, of all Guarantied Obligations
(as defined in the Guaranty);

 

(b)           makes to the Administrative Agent and
the other Guarantied Parties as of the date hereof each of the representations
and warranties contained in Section 5 of the Guaranty and agrees to be
bound by each of the covenants contained in Section 6 of the Guaranty; and

 

(c)           consents and agrees to each provision
set forth in the Guaranty.

 

SECTION 2.  GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY PERFORMED, IN SUCH
STATE.

 

Section 3.  Definitions.  Capitalized terms used herein and not
otherwise defined herein shall have their respective defined meanings given
them in the Credit Agreement.

 

 

[Signatures on Next Page]

 

B-12

 

IN
WITNESS WHEREOF, the New Guarantor has caused this Accession Agreement to be
duly executed and delivered under seal by its duly authorized officers as of
the date first written above.

 

	
   

  	
  [NEW
  GUARANTOR]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  (CORPORATE SEAL)

  
	
   

  	
   

  
	
   

  	
  Address
  for Notices:

  
	
   

  	
   

  
	
   

  	
  c/o
  CommonWealth REIT

  
	
   

  	
  400
  Centre Street

  
	
   

  	
  Newton,
  Massachusetts 02458

  
	
   

  	
  Attention:

  	
  Chief
  Financial Officer

  
	
   

  	
  Telecopier:

  	
  (617)
  332-2261

  
	
   

  	
  Telephone:

  	
  (617)
  332-3990

  
	
   

  	
   

  
	
   

  	
   

  
	
  Accepted:

  	
   

  
	
   

  	
   

  
	
  WELLS FARGO BANK, NATIONAL
  

  ASSOCIATION, as Administrative Agent

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
								

 

B-13

 

EXHIBIT C

 

FORM OF NOTICE OF
BORROWING

 

                ,
20   

 

Wells Fargo Bank, National
Association

NorthStar
East Building

608
2nd Avenue South

Minneapolis,
MN 55402

Attn: 
David DeAngelis

 

Ladies
and Gentlemen:

 

Reference
is made to that certain Credit Agreement dated as of August 9, 2010 (as
amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among CommonWealth REIT, a Maryland real estate investment
trust (the “Borrower”), the financial institutions party thereto and their
assignees under Section 12.6. thereof (the “Lenders”), Wells Fargo Bank,
National Association, as Administrative Agent (the “Administrative Agent”), and
the other parties thereto.  Capitalized
terms used herein, and not otherwise defined herein, have their respective
meanings given them in the Credit Agreement.

 

1.                                       Pursuant to
Section 2.1.(b) of the Credit Agreement, the Borrower hereby requests
that the Lenders make Revolving Loans to the Borrower in an aggregate amount
equal to $                                .

 

2.                                       The Borrower
requests that such Revolving Loans be made available to the Borrower on                        ,
20    .

 

3.                                       The Borrower
hereby requests that such Revolving Loans be of the following Type:

 

[Check one box only]

 

o                        Base Rate Loan

o                        LIBOR Loan,
with an initial Interest Period for a duration of:

 

[Check one box only]

 

o                        7 days

o                        one month

o                        three months

o                        six months

 

The
Borrower hereby certifies to the Administrative Agent and the Lenders that as
of the date hereof, as of the date of the making of the requested Revolving
Loans, and after making such Revolving Loans, (a) no Default or Event of
Default exists or would exist, and none of the limits specified in Section 2.14.
of the Credit Agreement would be violated; and (b) the representations and
warranties made or deemed made by the Borrower and each other Loan Party in the
Loan Documents to which any of them is a party are and shall be true and
correct with the same force and effect as if made on and as of such date except
to the extent that such representations and warranties expressly relate solely
to an earlier 

 

C-1

 

date
(in which case such representations and warranties shall have been true and
accurate on and as of such earlier date) and except for changes in factual
circumstances specifically and expressly permitted under the Loan
Documents.  In addition, the Borrower
certifies to the Administrative Agent and the Lenders that all conditions to
the making of the requested Revolving Loans contained in Article V. of the
Credit Agreement will have been satisfied at the time such Revolving Loans are
made.

 

IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Notice of
Borrowing as of the date first written above.

 

	
   

  	
  COMMONWEALTH
  REIT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

C-2

 

EXHIBIT D

 

FORM OF NOTICE OF
CONTINUATION

 

             ,
20    

 

Wells Fargo Bank, National
Association

NorthStar
East Building

608
2nd Avenue South

Minneapolis,
MN 55402

Attn:  David DeAngelis

 

Ladies
and Gentlemen:

 

Reference
is made to that certain Credit Agreement dated as of August 9, 2010 (as
amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among CommonWealth REIT, a Maryland real estate investment
trust (the “Borrower”), the financial institutions party thereto and their
assignees under Section 12.6. thereof (the “Lenders”), Wells Fargo Bank,
National Association, as Administrative Agent (the “Administrative Agent”), and
the other parties thereto.  Capitalized
terms used herein, and not otherwise defined herein, have their respective
meanings given them in the Credit Agreement.

 

Pursuant
to Section 2.8. of the Credit Agreement, the Borrower hereby requests a
Continuation of Loans under the Credit Agreement, and in that connection sets
forth below the information relating to such Continuation as required by such Section of
the Credit Agreement:

 

1.                                       The requested
date of such Continuation is                  ,
20    .

 

2.                                       The aggregate
principal amount of the Loans subject to the requested Continuation is $                                     
and the portion of such principal amount subject to such Continuation is $                                        .

 

3.                                       The current
Interest Period of the Loans subject to such Continuation ends on                        ,
20    .

 

4.                                       The duration of
the Interest Period for the Loans or portion thereof subject to such
Continuation is:

 

[Check one box only]

 

 ̈                   7 days

 ̈                   one month

 ̈                   three months

 ̈                   six months

 

[Continued on next page]

 

D-1

 

The
Borrower hereby certifies to the Administrative Agent and the Lenders that as
of the date hereof, as of the proposed date of the requested Continuation, and
after giving effect to such Continuation, no Default or Event of Default exists
or will exist, and (b) the representations and warranties made or deemed
made by the Borrower and each other Loan Party in the Loan Documents to which
any of them is a party are and shall be true and correct with the same force
and effect as if made on and as of such date except to the extent that such
representations and warranties expressly relate solely to an earlier date (in
which case such representations and warranties shall have been true and
accurate on and as of such earlier date) and except for changes in factual
circumstances specifically and expressly permitted under the Loan Documents.

 

IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Notice of
Continuation as of the date first written above.

 

 

	
   

  	
  COMMONWEALTH
  REIT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

D-2

 

EXHIBIT E

 

FORM OF NOTICE OF
CONVERSION

 

           , 20   

 

Wells Fargo Bank, National
Association

NorthStar
East Building

608
2nd Avenue South

Minneapolis,
MN 55402

Attn: 
David DeAngelis

 

Ladies
and Gentlemen:

 

Reference
is made to the Credit Agreement dated as of August 9, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among CommonWealth REIT, a Maryland real estate investment
trust (the “Borrower”), the financial institutions party thereto and their
assignees under Section 12.6. thereof (the “Lenders”), Wells Fargo Bank,
National Association, as Administrative Agent (the “Administrative Agent”), and
the other parties thereto.  Capitalized
terms used herein, and not otherwise defined herein, have their respective
meanings given them in the Credit Agreement.

 

Pursuant
to Section 2.9. of the Credit Agreement, the Borrower hereby requests a
Conversion of Loans of one Type into Loans of another Type under the Credit
Agreement, and in that connection sets forth below the information relating to
such Conversion as required by such Section of the Credit Agreement:

 

1.                                       The requested
date of such Conversion is                         ,
20    .

 

2.                                       The Type of
Loans to be Converted pursuant hereto is currently:

 

[Check one box only]

 

 ̈                  Base Rate Loan

 ̈                  LIBOR Loan

 

3.                                       The aggregate
principal amount of the Loans subject to the requested Conversion is $                           
and the portion of such principal amount subject to such Conversion is $                                     .

 

E-1

 

4.                                       The amount of
such Loans to be so Converted is to be converted into Loans of the following
Type:

 

[Check one box only]

 

 ̈            Base Rate Loan

 ̈            LIBOR Loan, with an initial
Interest Period for a duration of:

 

[Check one box only]

 

 ̈                                    7 days

 ̈                                    one month

 ̈                                    three months

 ̈                                    six months

 

The
Borrower hereby certifies to the Administrative Agent and the Lenders that as
of the date hereof, as of the proposed date of the requested Conversion, and
after giving effect to such Conversion, no Default or Event of Default exists
or will exist (provided the certification under this clause (a) shall not
be made in connection with a Conversion of a Loan into a Base Rate Loan), and (b) the
representations and warranties made or deemed made by the Borrower and each
other Loan Party in the Loan Documents to which any of them is a party are and
shall be true and correct with the same force and effect as if made on and as
of such date except to the extent that such representations and warranties
expressly relate solely to an earlier date (in which case such representations
and warranties shall have been true and accurate on and as of such earlier
date) and except for changes in factual circumstances specifically and
expressly permitted under the Loan Documents.

 

IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Notice of
Conversion as of the date first written above.

 

	
   

  	
  COMMONWEALTH
  REIT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

E-2

 

EXHIBIT F

 

FORM OF NOTICE OF SWINGLINE
BORROWING

 

              ,
20   

 

Wells Fargo Bank, National
Association

NorthStar
East Building

608
2nd Avenue South

Minneapolis,
MN 55402

Attn: 
David DeAngelis

 

Ladies
and Gentlemen:

 

Reference
is made to the Credit Agreement dated as of August 9, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among CommonWealth REIT, a Maryland real estate investment
trust (the “Borrower”), the financial institutions party thereto and their
assignees under Section 12.6. thereof (the “Lenders”), Wells Fargo Bank,
National Association, as Administrative Agent (the “Administrative Agent”), and
the other parties thereto.  Capitalized
terms used herein, and not otherwise defined herein, have their respective
meanings given them in the Credit Agreement.

 

1.                                       Pursuant to
Section 2.3.(b) of the Credit Agreement, the Borrower hereby requests that
the Swingline Lender make a Swingline Loan to the Borrower in an amount equal
to $                                .

 

2.                                       The Borrower
requests that such Swingline Loan be made available to the Borrower on                     ,
20     .

 

3.                                       The Borrower
requests that the proceeds of such Swingline Loan be made available to the
Borrower by                                  .

 

The
Borrower hereby certifies to the Administrative Agent, the Swingline Lender and
the Lenders that as of the date hereof, as of the date of the making of the
requested Swingline Loan, and after making such Swingline Loan, (a) no
Default or Event of Default exists or would exist, and none of the limits
specified in Section 2.14. of the Credit Agreement would be violated; and
(b) the representations and warranties made or deemed made by the Borrower
and each other Loan Party in the Loan Documents to which any of them is a party
are and shall be true and correct with the same force and effect as if made on
and as of such date except to the extent that such representations and
warranties expressly relate solely to an earlier date (in which case such
representations and warranties shall have been true and accurate on and as of
such earlier date) and except for changes in factual circumstances specifically
and expressly permitted under the Loan Documents.  In addition, the Borrower certifies to the
Administrative Agent and the Lenders that all conditions to the making of the
requested Swingline Loan contained in Article V. of the Credit Agreement
will have been satisfied at the time such Swingline Loan is made.

 

[Continued on next page]

 

F-1

 

If
notice of the requested borrowing of this Swingline Loan was previously given
by telephone, this notice is to be considered the written confirmation of such
telephone notice required by Section 2.3.(b) of the Credit Agreement.

 

IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Notice of
Swingline Borrowing as of the date first written above.

 

	
   

  	
  COMMONWEALTH
  REIT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

F-2

 

EXHIBIT G

 

FORM OF REVOLVING NOTE

 

	
  $

  	
   

  	
  , 2010

  

 

FOR VALUE RECEIVED, the undersigned, COMMONWEALTH
REIT, a Maryland real estate investment trust (the “Borrower”) hereby
unconditionally promises to pay to the order of                                 
(the “Lender”), in care of Wells Fargo Bank, National Association, as
Administrative Agent (the “Administrative Agent”), to Wells Fargo Bank,
National Association, NorthStar East Building, 608 2nd Avenue South,
Minneapolis, Minnesota 55402, or at such other address as may be specified by
the Administrative Agent to the Borrower, the principal sum of                                  
AND      /100 DOLLARS ($                        ),
or such lesser amount as may be the then outstanding and unpaid balance of all
Revolving Loans made by the Lender to the Borrower pursuant to, and in
accordance with the terms of, the Credit Agreement.

 

The
Borrower further agrees to pay interest at said office, in like money, on the
unpaid principal amount owing hereunder from time to time on the dates and at
the rates and at the times specified in the Credit Agreement.

 

This
Revolving Note is one of the “Revolving Notes” referred to in the Credit
Agreement dated as of August 9, 2010 (as amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), by and among the
Borrower, the financial institutions party thereto and their assignees under
Section 12.6. thereof, the Administrative Agent, and the other parties
thereto, and is subject to, and entitled to, all provisions and benefits
thereof.  Capitalized terms used herein
and not defined herein shall have the respective meanings given to such terms
in the Credit Agreement.  The Credit
Agreement, among other things, (a) provides for the making of Revolving
Loans by the Lender to the Borrower from time to time in an aggregate amount
not to exceed at any time outstanding the Dollar amount first above mentioned,
(b) permits the prepayment of the Loans by the Borrower subject to certain
terms and conditions and (c) provides for the acceleration of the
Revolving Loans upon the occurrence of certain specified events.

 

The
Borrower hereby waives presentment, demand, protest and notice of any
kind.  No failure to exercise, and no delay
in exercising any rights hereunder on the part of the holder hereof shall
operate as a waiver of such rights.

 

Time is of the essence for this Revolving Note.

 

THIS
REVOLVING NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY
PERFORMED, IN SUCH STATE.

 

IN
WITNESS WHEREOF, the undersigned has executed and delivered this Revolving Note
under seal as of the date written above.

 

	
   

  	
  COMMONWEALTH
  REIT

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

G-1

 

EXHIBIT H

 

FORM OF SWINGLINE NOTE

 

	
  $50,000,000

  	
   

  	
   

  	
   

  	
  August 9, 2010

  

 

FOR
VALUE RECEIVED, the undersigned, COMMONWEALTH REIT, a Maryland real estate
investment trust (the “Borrower”), hereby promises to pay to the order of WELLS
FARGO BANK, NATIONAL ASSOCIATION (the “Swingline Lender”) at its address at
NorthStar East Building, 608 2nd Avenue South, Minneapolis, Minnesota 55402, or
at such other address as may be specified by the Swingline Lender to the
Borrower, the principal sum of FIFTY MILLION AND NO/100 DOLLARS ($50,000,000)
(or such lesser amount as shall equal the aggregate unpaid principal amount of
Swingline Loans made by the Swingline Lender to the Borrower under the Credit
Agreement), on the dates and in the principal amounts provided in the Credit
Agreement, and to pay interest on the unpaid principal amount owing hereunder,
at the rates and on the dates provided in the Credit Agreement.

 

The
date, amount of each Swingline Loan, and each payment made on account of the
principal thereof, shall be recorded by the Swingline Lender on its books and,
prior to any transfer of this Note, endorsed by the Swingline Lender on the
schedule attached hereto or any continuation thereof, provided that the
failure of the Swingline Lender to made any such recordation or endorsement
shall not affect the obligations of the Borrower to make a payment when due of
any amount owing under the Credit Agreement or hereunder in respect of the
Swingline Loans.

 

This
Note is the “Swingline Note” referred to in the Credit Agreement dated as of
August 9, 2010 (as amended, restated, supplemented or otherwise modified from
time to time, the “Credit Agreement”), by and among the Borrower, the financial
institutions party thereto and their assignees under Section 12.6.
thereof, the Administrative Agent, and the other parties thereto, and evidences
Swingline Loans made to the Borrower thereunder.  Terms used but not otherwise defined in this
Note have the respective meanings assigned to them in the Credit Agreement.

 

The
Credit Agreement provides for the acceleration of the maturity of this Note
upon the occurrence of certain events and for prepayments of Swingline Loans
upon the terms and conditions specified therein.

 

THIS
NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY PERFORMED,
IN SUCH STATE.

 

The
Borrower hereby waives presentment for payment, demand, notice of demand,
notice of non-payment, protest, notice of protest and all other similar
notices.

 

Time is of the essence for this Note.

 

H-1

 

IN WITNESS WHEREOF, the undersigned has executed and
delivered this Swingline Note under seal as of the date first written above.

 

	
   

  	
  COMMONWEALTH
  REIT

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

H-2

 

SCHEDULE OF SWINGLINE LOANS

 

This
Note evidences Swingline Loans made under the within-described Credit Agreement
to the Borrower, on the dates and in the principal amounts set forth below,
subject to the payments and prepayments of principal set forth below:

 

	
  Date
  of Loan

  	
   

  	
  Principal

  Amount of

  Loan

  	
   

  	
  Amount Paid

  or Prepaid

  	
   

  	
  Unpaid

  Principal

  Amount

  	
   

  	
  Notation

  Made By

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

H-3

 

EXHIBIT
I

 

TRANSFER AUTHORIZER
DESIGNATION

(For Disbursement of Loan
Proceeds by Funds Transfer)

 

o  NEW  o  REPLACE PREVIOUS
DESIGNATION   o  ADD   o   CHANGE    o  DELETE LINE NUMBER                  

 

The following representatives of CommonWealth REIT, a Maryland real
estate investment trust (“Borrower”) are authorized to request the disbursement
of Loan Proceeds and initiate funds transfers for Loan Number 1002588 assigned
to the unsecured  revolving credit facility
evidenced by the Credit Agreement dated August 9, 2010 among the Borrower, each
of the financial institutions initially a signatory thereto together with their
assignees under Section 12.6. thereof (the “Lenders”), Wells Fargo Bank,
National Association, as the Administrative Agent for the Lenders (the “Administrative
Agent”), and the other parties thereto. 
The Administrative Agent is authorized to rely on this Transfer
Authorizer Designation until it has received a new Transfer Authorizer
Designation signed by Borrower, even in the event that any or all of the
foregoing information may have changed.

 

	
   

  	
   

  	
  Name

  	
   

  	
  Title

  	
   

  	
  Maximum

  Wire

  Amount*

  	
   

  
	
  1.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

[Continued on next page]

 

I-1

 

Beneficiary Bank and Account Holder Information

 

1.

	
  Transfer
  Funds to (Receiving Party Account Name):

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Receiving
  Party Account Number:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Receiving
  Bank Name, City and State:

  	
   

  	
  Receiving
  Bank

  Routing (ABA)

  Number

  
	
  Maximum
  Transfer Amount:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Further
  Credit Information/Instructions:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
   

  
	
  Transfer Funds to (Receiving Party Account Name):

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Receiving Party Account Number: 

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Receiving Bank Name, City and State:

  	
   

  	
  Receiving Bank

  Routing (ABA)

  Number

  
	
  Maximum Transfer Amount:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Further Credit Information/Instructions:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
   

  
	
  Transfer Funds to (Receiving Party Account Name):

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Receiving Party Account Number: 

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Receiving Bank Name, City and State:

  	
   

  	
  Receiving Bank

  Routing (ABA)

  Number

  
	
  Maximum Transfer Amount:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Further Credit Information/Instructions:

  	
   

  	
   

  

 

* Maximum Wire Amount may not exceed the Loan
Amount.

 

I-2

 

	
  Date:
                 ,
  20

  	
   

  
	
   

  	
   

  
	
  “BORROWER”

  	
   

  
	
   

  	
   

  
	
  COMMONWEALTH REIT,

  	
   

  
	
  a Maryland real estate investment trust

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:
  

  	
   

  	
   

  

 

I-3

 

 

EXHIBIT J

 

FORM OF OPINION OF COUNSEL

 

August 9, 2010

 

Wells
Fargo Bank, National Association,

as
Administrative Agent

Wells
Fargo Bank, National Association

101
Federal Street, 28th Floor

Boston,
Massachusetts  02110

 

The
Lenders party to the Credit Agreement

referred
to below

 

Ladies
and Gentlemen:

 

We
have acted as counsel to CommonWealth REIT, a Maryland real estate investment
trust (the “Borrower”), in connection with the negotiation, execution and
delivery of that certain Credit Agreement dated as of August 9, 2010 (the “Credit
Agreement”), by and among the Borrower, each of the financial institutions
initially a signatory thereto together with their assignees pursuant to
Section 12.6. and Wells Fargo Bank, National Association, as
Administrative Agent.  We have also acted
as counsel to [List Names of Guarantors] (each a “Guarantor” and collectively,
the “Guarantors”, and together with the Borrower collectively referred to as
the “Loan Parties”) in connection with the Guaranty dated as of August 9,
2010, made by each Guarantor in favor of the Administrative Agent and the
Lenders.  All capitalized terms used but
not defined herein shall have the meanings set forth in the Credit Agreement.

 

In
these capacities, we have reviewed the following:

 

(a)           the Credit Agreement;

 

(b)                                 Revolving
Notes;

 

(c)                                  Swingline Note;

 

(d)                                 the Guaranty;
and

 

(e)                                   [Others].

 

The
documents and instruments set forth in items (a) through (_) above
are referred to herein as the “Loan Documents”.

 

In
addition to the foregoing, we have reviewed the articles of incorporation and
by-laws, certificates of limited partnership and limited partnership
agreements, deeds of trust or other similar organizational documents, as
applicable, of each Loan Party and certain resolutions of the board of directors,
as applicable, of each Loan Party (collectively, the “Organizational Documents”)
and have also examined originals or copies, certified or otherwise identified
to our satisfaction, of such documents, corporate records, and other
instruments, and made such other investigations of law and fact, as we have 

 

J-1

 

deemed
necessary or advisable for the purposes of rendering this opinion.  In our examination of documents, we assumed
the genuineness of all signatures on documents presented to us as originals
(other than the signatures of officers of the Loan Parties) and the conformity
to originals of documents presented to us as conformed or reproduced copies.

 

Based
upon the foregoing, and subject to all of the qualifications and assumptions
set forth herein, we are of the opinion that:

 

1.                                       The Borrower (i) is
duly organized as a corporation and is validly existing and in good standing
under the laws of the State of Maryland and (ii) has the power to execute,
deliver and perform the Loan Documents to which it is a party, to own and use
its assets, and to conduct its business as presently conducted and as proposed
to be conducted immediately following the consummation of the transactions
contemplated by the Credit Agreement. 
The Borrower is qualified to transact business as a foreign corporation
in [list all States in which the character of its properties or the nature of
its business requires such qualification or authorization and where the failure
to be so qualified could reasonably be expected to have a Material Adverse
Effect].

 

2.                                       Each Guarantor (i) is
duly organized as a [corporation][limited liability company] and is validly
existing and in good standing under the laws of its jurisdiction of [organization][formation]
and (ii) has the power to execute, deliver and perform the Loan Documents
to which it is a party, to own and use its assets, and to conduct its business
as presently conducted and as proposed to be conducted immediately following the
consummation of the transactions contemplated by the Credit Agreement.  Each Guarantor is qualified to transact
business as a foreign corporation in [list all States in which the character of
each Guarantor’s properties or the nature of each Guarantor’s business requires
such qualification or authorization and where the failure to be so qualified
could reasonably be expected to have a Material Adverse Effect].

 

3.                                       Each Loan Party
has duly authorized the execution and delivery of the Loan Documents to which
it is a party and all performance by each Loan Party thereunder.  Each of the Loan Parties has duly executed
and delivered such Loan Documents.

 

4.                                       The execution
and delivery by each of the Loan Parties of the Loan Documents to which each is
a party do not, and if each of the Loan Parties were now to perform its
obligations under such Loan Documents, such performance would not, result in
any:

 

(a)           violation of any Loan Party’s
respective Organizational Documents, as applicable,;

 

(b)           violation of any existing federal or
state constitution, statute, regulation, rule, order, or law to which any Loan
Party or its respective assets are subject;

 

(c)           breach or violation of or default
under, any agreements, instruments, indentures or other documents evidencing
any indebtedness for money borrowed or any other material agreement to which,
to our knowledge, a Loan Party is bound or under which a Loan Party or its
respective assets is subject;

 

(d)           creation or imposition of a
contractual lien or security interest in, on or against the assets of any Loan
Party under any material written agreements to which, any Loan Party is a party
or by which  any Loan Party or their
respective assets are bound; or

 

J-2

 

(e)           violation of any judicial or
administrative decree, writ, judgment or order to which, to our knowledge, any
Loan Party or its respective assets are subject.

 

5.                                       The execution,
delivery and performance by each of the Loan Parties of each Loan Document to
which it is a party, and the consummation of the transactions thereunder, do
not and will not require any registration with, consent or approval of, or
notice to, or other action to, with or by, any Governmental Authority of the
United States of America, the State of New York, the State of Maryland or the
States of [list all States in which the character of each Loan Parties’
properties or the nature of each Loan Parties’ business requires such
qualification or authorization and where the failure to be so qualified could
reasonably be expected to have a Material Adverse Effect].

 

6.                                       The Loan
Documents constitute the legal, valid and binding obligations of the Loan
Parties, enforceable against the respective Loan Parties in accordance with
their respective terms, except that the foregoing opinion is subject to:
(a) applicable bankruptcy, insolvency, reorganization, moratorium,
arrangement or similar laws relating to or affecting the enforcement of
creditors’ rights generally and (b) the fact that equitable remedies or
relief (including, but not limited to, the remedy of specific performance) are
subject to the discretion of the court before which any such remedies or relief
may be sought.

 

7.                                       To our
knowledge, there are no judgments outstanding against any of the Loan Parties
or affecting any of their respective assets, nor is there any litigation or
other proceeding against any of the Loan Parties or its assets pending or
overtly threatened.

 

8.                                       None of the
Loan Parties is, or, after giving effect to any Loan will be, subject to
regulation under the Investment Company Act of 1940 or to any federal or state
statute or regulation limiting its ability to incur indebtedness for borrowed
money.

 

9.                                       Assuming that
Borrower applies the proceeds of the Loans and as provided in the Credit Agreement,
the transactions contemplated by the Loan Documents do not violate the
provisions of Regulations T, U or X of the Federal Reserve Board.

 

10.                                 The
consideration to be paid to the Lenders for the financial accommodations to be
provided to the Loan Parties pursuant to the Credit Agreement does not violate
any law of the State of New York relating to interest and usury.

 

[Customary Qualifications/Assumptions/Limitations]

 

Very truly yours,

 

J-3

 

EXHIBIT K

 

FORM OF COMPLIANCE
CERTIFICATE

 

Reference
is made to the Credit Agreement dated as of August 9, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among CommonWealth REIT, a Maryland real estate investment
trust (the “Borrower”), the financial institutions party thereto and their
assignees under Section 12.6. thereof (the “Lenders”), Wells Fargo Bank,
National Association, as Administrative Agent (the “Administrative Agent”), and
the other parties thereto.  Capitalized
terms used herein, and not otherwise defined herein, have their respective
meanings given to them in the Credit Agreement.

 

Pursuant
to Section 8.3 of the Credit Agreement, the undersigned hereby certifies
to the Administrative Agent and the Lenders that:

 

1.             (a) The undersigned has
reviewed the terms of the Credit Agreement and has made a review of the
transactions, financial condition and other affairs of the Borrower and its
Subsidiaries as of, and during the relevant accounting period ending on,                            ,
20    and (b) such review has not disclosed the existence
during such accounting period, and the undersigned does not have knowledge of
the existence, as of the date hereof, of any condition or event constituting a
Default or Event of Default [except as set forth on
Attachment A hereto, which accurately describes the nature of the conditions(s) or
event(s) that constitute (a) Default(s) or (an) Event(s) of
Default and the actions which the Borrower (is taking)(is planning to take)
with respect to such condition(s) or event(s)] [;thus, to the best of the
undersigned’s knowledge, no Default or Event of Default exists](16).

 

2.             Schedule 1 attached hereto
accurately and completely sets forth the calculations required to establish
whether there has been compliance with Section 9.1. of the Credit
Agreement.

 

3.             The representations and warranties
of the Borrower and the other Loan Parties contained in the Credit Agreement
and the other Loan Documents are true and correct in all material respects,
except to the extent such representations or warranties expressly relate solely
to an earlier date (in which case such representations and warranties shall
have been true and accurate on and as of such earlier date) and except for
changes in factual circumstances specifically and expressly permitted under the
Credit Agreement or the other Loan Documents.

 

IN
WITNESS WHEREOF, the undersigned has signed this Compliance Certificate on and
as of                            ,
20        .

 

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

(16) Choose the one of the two preceding
bracketed options that is applicable and insert to complete.

 

K-1

 

Schedule 1

 

[calculations to be attached]

 

K-2

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