Document:

EX-4.26

 Exhibit 4.26 
 1st January 2012 
 TEEKAY LNG OPERATING LLC 

-and- 
 TEEKAY
SHIPPING LIMITED 
  
  

BUSINESS DEVELOPMENT SERVICES AGREEMENT 
  

 

  

					
		 	TLO/TSL ADMIN SERVICES AGREEMENT	 	1

 THIS AGREEMENT is made effective the 1st day of January 2012 

BETWEEN: 
  

	(1)	TEEKAY LNG OPERATING LLC, a limited liability company incorporated under the laws of the Republic of the Marshall Islands whose registered office is at Trust
Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 (‘TLO’); and 

  

	(2)	TEEKAY SHIPPING LIMITED, a company incorporated under the laws of the Commonwealth of the Bahamas with Company Registration Number 5621 B whose registered office
is at Bayside House, Bayside Executive Park, West Bay Street & Blake Road, P.O. Box A.P. 59213, Nassau, The Bahamas (‘TSL’) 

 WHEREAS: 
  

	 	A.	TLO is a corporation which, inter alia, is directly and indirectly engaged in the business of international shipping, holding all of the issued and outstanding shares
in a number of vessel owning corporations and being the sole member of a number of vessel owning limited liability companies; 

  

	 	B.	TSL is a wholly owned subsidiary of Teekay Corporation (“TSC”) and is a provider of a variety of global shipping and associated administrative services; and

  

	 	C.	TLO wishes to contract the services of TSL as described herein and TSL is willing to perform the services under the terms of this Agreement. 

NOW THEREFORE this Agreement witnesses that in consideration of the mutual covenants and agreements herein contained the parties hereto agree as
follows: 
  

	1	Definitions 

  

	1.1	In this Agreement the following terms shall have the meanings set out below: 

 

	 	1.1.1	‘Services’ means all matters and services described in Schedule A hereto. 

 

	 	1.1.2	‘Service Fee’ means the fee calculated in accordance with the terms set out in Schedule B hereto. 

 

	 	1.1.3	‘TSC Group’ means TSC any and all direct and indirect subsidiaries and affiliates of Teekay Corporation. 

 

	 	1.1.4	‘TLO Group’ means TLO any and all direct and indirect subsidiaries and affiliates of TLO. 

  

					
		 	TLO/TSL ADMIN SERVICES AGREEMENT	 	2

	1.2	Interpretation: In this Agreement: 

  

	 	1.2.1	References to persons include references to bodies corporate and unincorporate. 

 

	 	1.2.2	Unless the context requires otherwise, words In the singular number include the plural number and vice versa. 

 

	 	1.2.3	Words in one gender shall include all other genders. 

  

	 	1.2.4	Clause headings are inserted for convenience only and shall not effect the construction of this Agreement and, unless otherwise specified, all references to clauses and
schedules are to clauses of, and schedules to, this Agreement. 

  

	2	Appointment 

  

	2.1	TLO hereby appoints TSL to provide, and TSL hereby agrees to provide, the Services for TLO subject to and upon the terms and conditions set out in this Agreement.

  

	3	Services 

  

	3.1	TSL shall, except as otherwise instructed by TLO in writing, perform all or any of the Services for TLO as TLO may from time to time reasonably request.

  

	3.2	TSL shall retain or procure at all times qualified staff so as to maintain a level of expertise sufficient to provide the Services for TLO in accordance with this
Agreement. 

  

	3.3	In exercise of its duties hereunder, TSL shall act in accordance with TLO’s corporate policies and standards as communicated to it by TLO from time to time and TSL
shall at all times perform the Services diligently and in a commercially reasonable manner and be responsible to TLO for the due and proper performance of the same. 

 

	3.4	TSL shall keep full and proper books, records and accounts showing clearly all transactions relating to its provision of the Services in accordance with established
general commercial practices and in accordance with generally accepted accounting principles, and allow TLO and its representatives to audit and examine such books, records and accounts at any time during customary business hours.

  

					
		 	TLO/TSL ADMIN SERVICES AGREEMENT	 	3

	4	Fees and Expenses 

  

	4.1	In return for TSL providing the Services for TLO, TLO shall pay to TSL the Service Fee as determined, and by installments as set out, in Schedule B hereto.

  

	5	Subcontracting 

  

	5.1	TSL shall not assign, sub-contract or sub-license any of the obligations or rights hereunder to any party that is not a member of the Teekay Corporation Group without
the prior written consent of TLO and provided that in all cases TSL shall remain responsible for the due fulfillment of this Agreement. 

  

	6	Termination and Variation 

  

	6.1	Either party may terminate this Agreement upon giving to the other party at least sixty (60) days prior written notice of the effective date oftermination.

  

	6.2	This Agreement shall automatically terminate: 

  

	 	6.2.1	should TLO no longer directly or indirectly be engaged in the business of international shipping; 

 

	 	6.2.2	at the option of the party not in breach, if either party breaches a material obligation of this Agreement and fails to remedy the breach within thirty (30) days
after written notice thereof; 

  

	 	6.2.3	at the option of the other party, if a party makes a general assignment for the benefit of its creditors, files a petition in bankruptcy or for liquidation, is adjudged
insolvent or bankrupt, commences any proceedings for a reorganization or arrangement of debts, dissolution, or liquidation under any law or statute or any jurisdiction applicable thereto, or if any such proceedings shall be commenced and not
dismissed or otherwise disposed of within sixty (60) days; or 

  

	 	6.2.4	if a final judgment, order or decree which materially and adversely affects the ability of either party to perform its obligations under this Agreement shall have been
obtained or entered against the other party and such judgment, order or decree shall not have been vacated, discharged or stayed. 

  

	6.3	Upon termination of this Agreement the Service Fee payable to TSL shall be calculated and paid to the actual date of termination. Any overpayment shall be refunded to
TLO and any underpayment shall be paid to TSL. 

  

					
		 	TLO/TSL ADMIN SERVICES AGREEMENT	 	4

	6.4	In the event of tennination as herein provided TLO will be fully responsible and liable for any cost or expense incurred by TSL in connection with the provision of the
Services prior to such termination or as a consequence of such termination and TSL shall remain liable to TLO to account for monies received by TSL in connection with the provision of the· Services prior to termination and not expended prior
to or as a consequence of termination. 

  

	7	Ratification and indemnification 

  

	7.1	TLO ratifies and confirms and undertakes at all times to ratifY and confirm whatever may be properly done or caused to be done by TSL in the provision of the Services.

  

	7.2	TLO undertakes to keep TSL and its employees and agents indemnified and to hold them harmless against all actions, proceedings, claims, demands, or liabilities
whatsoever which may be brought against them due to this Agreement including, without limitation, all actions, proceedings, claims, demands or liabilities brought under the environmental laws of any jurisdiction, and against and in respect of all
costs and expenses (including legal costs and expenses on a full indemnity basis) they may suffer or incur due to defending or settling any or all of the same, provided however, that such indemnity shall exclude any or all losses, actions,
proceedings, claims, demands, costs, damages, expenses and liabilities whatsoever which may be caused by or due to the negligence or willful misconduct of TSL or its employees or agents. 

 

	8	Force Majeure 

  

	8.1	Neither party shall be liable for any failure to perform its obligations under this Agreement due to any cause beyond its reasonable control. 

 

	9	Entire Agreement 

  

	9.1	This Agreement forms the entire agreement between the parties with respect to the subject matter hereof and supersedes and replaces all previous agreements, written or
oral, with respect to the subject matter hereof. 

  

	10	Severability 

  

	10.1	If any provision herein is held to be void or unenforceable, the validity and enforceability of the remaining provisions herein shall remain unaffected and enforceable.

  

					
		 	TLO/TSL ADMIN SERVICES AGREEMENT	 	5

	11	Relationship between the Parties 

  

	11.1	The relationship between the parties is that of independent contractor. Nothing herein shall be interpreted so as to create a partnership, joint venture, employee or
agency relationship between TSL and TLO or any member of the TLO Group. 

  

	12	Confidential Information 

  

	12.1	TSL shall keep confidential, both during and after the currency of this Agreement, all information relating in any way to TLO or any member of the TLO Group that it has
acquired or developed in the course of providing the Services under this Agreement. The foregoing shall not apply to such information which is generally known to the public other than by way of breach of this Agreement by TSL and shall not apply to
the extent that TSL is required by law to disclose any such information. TSL shall not make use of such information for any purpose other than in the course of providing the Services hereunder. TLO shall be entitled to any equitable remedy available
at law or equity, including specific performance, against a breach by TSL of this obligation. TSL shall not resist such application for relief on the basis that TLO has an adequate remedy at law, and TSL shall waive any requirement for the securing
or posting of any bond in connection with such remedy. 

  

	13	Surrender of Books and Records 

  

	13.1	Upon termination of this Agreement TSL shall forthwith surrender to TLO any and all books, records, documents and other property in the possession or control of TSL
relating to this Agreement and to the business, finance, technology, trademarks or affairs of TLO and any member of the TLO Group and except as required by law shall not retain any copies of the same. 

 

	14	Currency 

  

	14.1	Unless otherwise Dollars. stated, all currency references herein are to United States 

 

	15	Law and arbitration 

  

	15.1	This Agreement shall for all purposes be governed and construed in accordance with the laws of England & Wales. Any dispute arising out of this Agreement shall
be referred to the exclusive jurisdiction of the High Court of England & Wales at London, England, subject to the procedures applicable thereto. 

  

	16	Modification and Benefit 

  

	16.1	This Agreement shall not be amended, altered or modified except by an instrument in writing executed by the parties hereto and shall be binding upon and inure to their
benefit and be binding and inure to the benefit of their respective successors and assigns. 

  

					
		 	TLO/TSL ADMIN SERVICES AGREEMENT	 	6

	17	Notice 

  

	17.1	All notices, requests, demands and other communications given or made in accordance with the provisions of this Agreement shall be in writing and shall be given either
by hand or by fax to the addresses below and shall be deemed to have been given when actually received: 

  

			
	If to TLO:	 	If to TSL:
		
	 Teekay LNG Operating LLC
 Suite
No. 1778
 48 Par-la-Ville Road

Hamilton, HM 11 Bermuda
	 	 Teekay Shipping Limited
 Suite
No. 1778
 48 Par-la-Ville Road

Hamilton, HM 11 Bermuda

		
	Attn: Secretary	 	Attn: Director
		
	Fax: (441) 2923931	 	Fax: (441) 292 3931

  

	18	Waiver 

  

	18.1	The failure of either party to enforce any term of this Agreement shall not act as a waiver. Any waiver must be specifically stated as such in writing

  

	19	Counterparts 

  

	19.1	This Agreement may be executed in one or more signed counterparts, facsimile or otherwise, which shall together form one instrument. 

  

					
		 	TLO/TSL ADMIN SERVICES AGREEMENT	 	7

 IN WITNESS whereof the parties hereto have caused this Agreement to be executed by their duly
authorized officers the day and year first above written 
  

									
	TEEKAY LNG OPERATING LLC	 		 	TEEKAY SHIPPING LIMITED
					
	By:	 	 

  
	 		 	By:	 	 

  

	Name:	 	MARK CAVE	 		 	Name:	 	MARK CAVE
	Title:	 	DIRECTOR	 		 	Title:	 	DIRECTOR

  

					
		 	TLO/TSL ADMIN SERVICES AGREEMENT	 	8

 SCHEDULE ‘A’ 

SERVICES 
 TSL shall
provide for TLO such of the Services as TLO shall from time to time request and direct TSL to provide for it pursuant to Section 3 of this Agreement. 
 In this Agreement ‘Services’ means all matters and activities including but not limited to those listed below: 
  

	1)	Business Development Services 

  

	 	a)	researching macroeconomic trends affecting the oil tanker markets; 

  

	 	b)	developing and implementing strategic plans for the purpose of expanding existing business as well as developing new business; 

 

	 	c)	providing advice regarding the negotiating and arranging the purchase, sale and financing of vessels; 

 

	 	d)	coordinating construction of new vessels in various shipyards around the world; 

 

	 	e)	monitoring and evaluating ship construction and scrapping activities in order to assess available tonnage; 

 

	 	f)	providing advice and making introductions to enable TLO to develop strategic alliances; 

 

	 	g)	assisting in implementing strategic business decisions such as new joint ventures or profit pooling arrangements; 

 

	 	h)	monitoring and analyzing markets worldwide on a continuous basis to stay abreast of market activities and potential business opportunities; 

 

	 	i)	providing advice regarding strategic customer relations; 

  

	 	j)	all such other business development services as TLO may request from TSL from time to time. 

  

					
		 	TLO/TSL ADMIN SERVICES AGREEMENT	 	9

 SCHEDULE ‘B’ 

SERVICE FEE 
  

	1	In return for the provision of the Services by TSL for TLO, TLO shall pay to TSL an annual Service Fee for each calendar year during the term of this Agreement divided
into Twelve (12) equal monthly installments payable in advance and which is equal to the annual aggregate amount of such costs and expenses (the ‘Costs and Expenses’) as TSL may reasonably incur in connection with the provision of the
Services plus a reasonable profit mark-up to be agreed upon and reviewed annually by the parties to this Agreement and which shall be consistent with the guidelines of the Organization for Economic Cooperation and Development (‘OECD’) for
transfer pricing as well as local rules and regulations. 

  

	2	In respect of each calendar year during the term of this Agreement, TSL shall prepare an estimate of the Costs and Expenses it reasonably expects to incur during such
year and shall submit such estimate to TLO within Fourteen (14) days of the last day of the immediately preceding year. 

  

	3	The calculation of TSL’s aforesaid estimated Costs and Expenses may be adjusted from time to time by agreement between the parties, and the Service Fee payable by
TLO shall be re-calculated accordingly. 

  

	4	Within Ninety (90) days (or such longer period as the parties shall agree) after the end of each year, TSL shall submit to TLO an accounting of the Costs and
Expenses it has incurred in that year (the ‘Actual Costs and Expenses’). 

  

	5	Fourteen (14) days (or such longer period as the parties shall agree) after the date on which TSL delivers such accounting of its Actual Costs and Expenses:

  

	 	a)	where the aggregate of all Service Fees paid in the relevant year, is less than the Actual Costs and Expenses with the agreed profit mark-up (if any), TLO shall pay an
Adjustment to TSL; 

  

	 	b)	where the aggregate of all Service Fees paid in the relevant year, is greater than the Actual Costs and expenses with the agreed profit mark-up (if any), TSL shall pay
an Adjustment to TLO; and 

  

	 	c)	where the aggregate of all Service Fees paid in a year, is equal to the Actual Costs and Expenses with the agreed profit mark-up (if any), no Adjustment is payable.

  

	6.	For the purposes hereof’Adjustment’ means a payment (made in accordance with the foregoing) in the amount of the difference between the aggregate of all
Service Fees paid in a year, and the Actual Costs and Expenses with the agreed profit mark-up (if any) incurred in that year. 

  

					
		 	TLO/TSL ADMIN SERVICES AGREEMENT	 	10EX-10.19

 Exhibit 10.19 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 THIS FIRST AMENDMENT TO CREDIT
AGREEMENT, dated as of March 4, 2013 (this “Agreement”), is entered into among Cole Corporate Income Operating Partnership, LP, a Delaware limited partnership (the “Borrower”), the Guarantors party to the
Guaranty (as defined below), the Lenders party hereto and Bank of America, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”). Capitalized terms used herein and not otherwise defined shall have the meanings
ascribed thereto in the Credit Agreement (as defined below). 
 RECITALS 

A. The Borrower, the Lenders and the Administrative Agent entered into that certain Credit Agreement, dated as of November 29, 2012
(as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”). 
 B. The Guarantors entered into that certain Continuing Guaranty, dated as of November 29, 2012 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the
“Guaranty”), delivered to the Administrative Agent for the benefit of the Secured Parties (as defined therein). 
 C. The Borrower and the Lenders have requested certain changes to the Credit Agreement, and, in connection therewith, the parties hereto have agreed to amend the Credit Agreement as provided herein.

 D. In consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows. 

 AGREEMENT 
 1. Amendments. 
 (a) The cover page of the Credit Agreement is amended and
restated in its entirety to read as set forth on Exhibit A hereto. 
 (b) The definition of Applicable Rate in Section 1.01
of the Credit Agreement is amended and restated in its entirety to read as follows: 
 “Applicable
Rate” means (a) with respect to Eurodollar Rate Loans, a percentage per annum equal to: (i) if the Leverage Ratio is greater than .65 to 1.0, LIBOR plus 3.50%, (ii) if the Leverage Ratio is greater than .60 to 1.0 but less
than or equal to .65 to 1.0, LIBOR plus 3.00% and (iii) if the Leverage Ratio is less than or equal to .60 to 1.0, LIBOR plus 2.50% and (b) with respect to Base Rate Loans, a percentage per annum equal to: (i) if the Leverage Ratio is
greater than .65 to 1.0, Base Rate plus 2.50%, (ii) if the Leverage Ratio is greater than .60 to 1.0 but less than or equal to .65 to 1.0, Base Rate plus 2.00% and (iii) if the Leverage Ratio is less than or equal to .60 to 1.0, Base Rate
plus 1.50%. 
 Beginning on the effective date of the First Amendment to this Agreement, the Applicable Rate shall be
determined in accordance with clauses (a)(i) and (b)(i) above. Thereafter, any increase or decrease in the Applicable Rate resulting from a change in the Leverage Ratio shall become effective as of the first Business Day immediately following the
date a Compliance Certificate is required to be delivered pursuant to Section 6.02(a); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then the rates set forth in
clauses (a)(i) and (b)(i) above shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered (until such time as such delinquent Compliance Certificate is delivered).

 (c) Clause (e) of the definition of “Indebtedness” in Section 1.01 of the Credit Agreement is
amended by replacing the clause “(other than a Lien for taxes not yet due and payable)” with the clause “(other than (i) a Lien for taxes not yet due and payable or (ii) a Lien of the type described in
Section 7.01(c))”.  

  
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 (d) The definition of “Qualified Collateral Property” in Section 1.01 of the
Credit Agreement is amended by deleting the reference to “25%” set forth in clause (i) of such definition and substituting “18.75%” in replacement thereof. 

(e) In Section 2.03(a)(i) of the Credit Agreement, clause (x) of the proviso is amended and restated in its entirety to read as
follows: 
 (x) the Total Revolving Outstandings shall not exceed the lesser of (I) the Aggregate Revolving Commitments
and (II) the Borrowing Base then in effect 
 (f) In Section 2.04(a) of the Credit Agreement, clause (i) of the
proviso is amended and restated in its entirety to read as follows: 
 (i) the Total Revolving Outstandings shall not exceed
the lesser of (A) the Aggregate Revolving Commitments and (B) the Borrowing Base then in effect 
 (g)
Section 2.10 of the Credit Agreement is amended by adding the following paragraph at the end of such Section. 
 If, as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the Borrower or the Lenders determine that (i) the Leverage Ratio as
calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay
to the Administrative Agent for the account of the applicable Lenders or the L/C Issuer, as the case may be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to
the Borrower under the Bankruptcy Code of the United States, automatically and without further action by the Administrative Agent, any Lender or the L/C Issuer), an amount equal to the excess of the amount of interest and fees that should have been
paid for such period 

  
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over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent, any Lender or the L/C Issuer, as the case may be, under
Section 2.03(c)(iii), 2.03(h) or 2.08(b) or under Article VIII. 
 (h) The first sentence of Section 2.14(a) of the
Credit Agreement is amended and restated in its entirety to read as follows: 
 “As long as no Default
exists and is continuing, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may request increases in the Aggregate Revolving Commitments by an amount not exceeding, in the aggregate, Six Hundred Million
and No/100 Dollars ($600,000,000) at any time; provided that (i) any such request for an increase shall be in a minimum amount of Twenty Five Million and No/100 Dollars ($25,000,000.00) and (ii) the Aggregate Revolving Commitments
cannot exceed (x) Four Hundred Million and No/100 Dollars at any time prior to March 1, 2013 and (y) Seven Hundred Fifty Million and No/100 Dollars ($750,000,000) at any time thereafter.” 

(i) In Section 6.01(a) of the Credit Agreement the reference to “December 31, 2011” is amended to read “December 31,
2012”. 
 (j) In Section 6.13 of the Credit Agreement, (x) the reference to “Qualifies Collateral
Properties” is amended to read “Qualified Collateral Properties” and (y) the “.” at the end of clause (c) is amended to read “;”. 
 (k) In Section 7.01 of the Credit Agreement the “and” after clause (a) is deleted, an “and” is inserted after clause (b) and a new clause (c) is added to read as
follows: 
 (c) Any Lien on the assets of a Loan Party securing the obligations under tax incremental
financing notes or other similar obligations that are owed to a Wholly-Owned Subsidiary of the Borrower so long as such Lien is fully subordinated to any Lien on such assets securing the Obligations in a manner reasonably satisfactory to the
Administrative Agent. 

  
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 (l) Clause (f) of Section 7.02 of the Credit Agreement is amended and restated in
its entirety to read as follows: 
 (f) Investments related to income-producing Properties, single tenant or
mixed-use Properties, Construction in Progress, improved land, unimproved land, Eligible Real Estate Investments and any business activities and Investments reasonably incidental thereto and Investments in partnerships or joint ventures; provided,
that such Investments together with any such Investments held by all other members of the Consolidated Group (collectively, the “Consolidated Group Investments”) shall, as applicable, be limited as follows: 

(i) the aggregate value of the Consolidated Group Investments in all non-wholly owned general and limited partnerships, joint ventures
and other Persons (including, without limitation, Investments in C Corporations, Investments in Investment Affiliates and any such Investments in existence as of the date hereof), in each case, which are not consolidated with CCIT for financial
reporting purposes under GAAP, shall not constitute more than ten percent (10.0%) of Consolidated Total Asset Value; 

(ii) Consolidated Group Investments in Properties contributing to the calculation of Construction in Progress shall not, in the
aggregate, at any time exceed an amount equal to ten percent (10.0%) of Consolidated Total Asset Value (which for Construction in Progress held or owned by Investment Affiliates will be based upon the Consolidated Group Pro Rata Share of such
Construction in Progress); 
 (iii) Consolidated Group Investments in Eligible Real Estate Investments shall not, in the
aggregate, exceed ten percent (10.0%) of Consolidated Total Asset Value (which for Eligible Real Estate Investments held or owned by Investment Affiliates, will be based upon the Consolidated Group Pro Rata Share of such Eligible Real Estate
Investments); 

  
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 (iv) Consolidated Group Investments in CMBS Securities shall not exceed five percent
(5.0%) of Consolidated Total Asset Value (which for CMBS Securities held or owned by Investment Affiliates, will be based upon the Consolidated Group Pro Rata Share of such CMBS Securities); and 

(v) Consolidated Group Investments in Properties contributing to the calculation of Improved Land Value and Unimproved Land Value
shall not, in the aggregate, at any time exceed an amount equal to five percent (5.0%) of Consolidated Total Asset Value (which for Improved Land Value or Unimproved Land Value held or owned by Investment Affiliates will be based upon the
Consolidated Group Pro Rata Share of such Improved Land Value and Unimproved Land Value). 
 In addition to the
limitations above contained in this clause (f), the aggregate value of the types of Consolidated Group Investments permitted pursuant to clauses (f)(i) – (v) above shall not, in any case, exceed an amount equal to twenty-five percent
(25.0%) of Consolidated Total Asset Value; 
 (m) In Section 7.03 of the Credit Agreement: 

(i) clauses (d) and (e) are amended and restated to read as set forth below; and 

(d) Guaranties by the Borrower or CCIT of losses relating to customary exceptions to the non-recourse limitations
under Indebtedness incurred by a Subsidiary that is not a Loan Party and customary guaranties by the Borrower or CCIT of the full amount of non-recourse Indebtedness incurred by a Subsidiary that is not a Loan Party if certain events occur (e.g.,
bankruptcy, violation of due on sale clauses, etc.); provided that the incurrence of any Indebtedness pursuant to this clause (d) does not cause the Borrower to violate any of the financial covenants set forth in Section 7.11;

  
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 (e) Guarantees by the Borrower or CCIT of any Indebtedness incurred by a
Subsidiary that is not a Loan Party (i) if on the date of any incurrence of such Indebtedness, the Aggregate Revolving Commitments in effect on such day exceed 60% of the Aggregate Asset Value in effect on such date but do not exceed 65% of the
Aggregate Asset Value in effect on such day, Indebtedness, as long as the aggregate amount of all guarantees allowed by this clause (i) does not exceed 10% of Consolidated Total Asset Value; and (ii) if on the date of any incurrence of
such Indebtedness, the Aggregate Revolving Commitments in effect on such date do not exceed 60% of the Aggregate Asset Value in effect on such day, as long as either (x) the aggregate amount of guarantees allowed by this clause (ii) does
not exceed 10% of Consolidated Total Asset Value or (y) no asset that is subject to a guaranty allowed by this clause (ii) has a loan to cost ratio greater than 65%; provided that the incurrence of any Indebtedness pursuant to this clause
(e) does not cause the Borrower to violate any of the financial covenants set forth in Section 7.11; 
 2.
Effectiveness; Conditions Precedent. This Agreement shall be effective upon receipt by the Administrative Agent of copies of this Agreement duly executed by the Borrower, the Guarantors, the Lenders and the Administrative Agent. 

3. Ratification of Credit Agreement. The Borrower acknowledges and consents to the terms set forth herein and agrees that this
Agreement does not impair, reduce or limit any of its obligations under the Loan Documents as amended hereby. 
 4.
Representations and Warranties. Each of the Loan Parties represents and warrants to the Lenders as follows: 
 (a) It has taken all necessary action to authorize the execution, delivery and performance of this Agreement; 
 (b) This Agreement has been duly executed and delivered by such Person and constitutes such Person’s legal, valid and binding obligations, enforceable in accordance with its terms, except as such
enforceability may be subject to (i) applicable Debtor Relief Laws and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity); 

  
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 (c) No consent, approval, authorization or order of, or filing, registration
or qualification with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by such Person of this Agreement; 

(d) The execution and delivery of this Agreement does not (i) violate, contravene or conflict with any provision of
its Organization Documents or (ii) materially violate, contravene or conflict with any Laws applicable to it; 
 (e) After giving effect to this Agreement, the representations and warranties of the Borrower set forth in Article V of the Credit Agreement and the other Loan Documents are true and correct
in all material respects as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct, in all material respects, as of such earlier date, and
except that for purposes of this Section 4, the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements
furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement; and 
 (f) After giving effect to this Agreement, no event has occurred and is continuing which constitutes a Default or an Event of Default. 

5. Guaranty. By their execution below, each of the Guarantors, hereby consents to this Agreement and hereby agrees (a) that
the Guaranty is and shall continue in full force and effect with respect to the Guaranteed Obligations (as defined therein) as amended by this Agreement, (b) that, to its knowledge, as of the Closing Date, there are no offsets, claims,
counterclaims, cross-claims or defenses of any Guarantor with respect to the Guaranty nor, to each Guarantor’s knowledge, with respect to such Guaranteed Obligations (as defined therein), (c) that the Guaranty is not released, diminished
or impaired in any way by this Agreement or the transactions contemplated hereby, and (d) that the Guaranty is hereby ratified and confirmed in all respects. Each Guarantor hereby reaffirms all of the representations and warranties set forth in
the Guaranty, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct, in all material respects, as of such earlier date. Each Guarantor hereby consents to the
terms of this Agreement and acknowledges that without this consent and reaffirmation, the Administrative Agent and Lenders party hereto would not execute this Agreement or otherwise consent to its terms. 

  
 8 

 6. Counterparts/Telecopy. This Agreement may be executed in any number of
counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of executed counterparts of this Agreement by telecopy or .pdf shall be effective as an
original. 
 7. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED
BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 8. Reference to and Effect on
Credit Agreement. Except as specifically modified herein, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are each hereby ratified and confirmed. This Agreement shall be considered a Loan Document from
and after the date hereof. The Borrower and the Guarantors intend for the amendments to the Loan Documents set forth herein to evidence an amendment to the terms of the existing indebtedness of the Borrower and the Guarantors to the Administrative
Agent and the Lenders and do not intend for such amendments to constitute a novation in any manner whatsoever. 

[remainder of page intentionally left blank] 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed
as of the date first above written. 
  

											
	BORROWER:        	  	COLE CORPORATE INCOME OPERATING PARTNERSHIP, LP,
				
		  	a Delaware limited partnership	 		  	
					
		  	By:	 	Cole Corporate Income Trust, Inc.,	 		  	
					
		  		 	a Maryland corporation,	 		  	
					
		  		 	its general partner	 		  	
					
		  		 	By:	 	 /s/ D. Kirk McAllaster, Jr.
	  	
					
		  		 	Name: D. Kirk McAllaster, Jr.	 		  	
					
		  		 	Title:   Chief Operating Officer	 		  	
			
	GUARANTORS: COLE CORPORATE INCOME TRUST, INC.,	 		  	
				
		  	a Delaware Corporation	 		  	
					
		  	By:	 	 /s/ D. Kirk McAllaster, Jr.
	 		  	
				
		  	Name: D. Kirk McAllaster, Jr.	 		  	
				
		  	Title:   Chief Operating Officer	 		  	
		
		  	COLE ID ROANOKE VA, LLC, a Delaware limited liability company
		
		  	COLE OF CENTENNIAL CO, LLC, a Delaware limited liability company

  
 FIRST
AMENDMENT TO CREDIT AGREEMENT 
 CCIT 

											
		  	COLE OF IRVING TX, LLC, a Delaware limited liability company
		
		  	COLE ID COLORADO SPRINGS CO, LLC,
		
		  	a Delaware limited liability company
		
		  	COLE OF FORT MILL SC, LLC, a Delaware limited liability company
		
		  	COLE ID SPARTANBURG SC, LLC, a Delaware limited liability company
		
		  	COLE ID ANKENY IA, LLC, a Delaware limited liability company
		
		  	COLE OF CHARLOTTE NC, LLC, a Delaware limited liability company
		
		  	COLE ID LINCOLNSHIRE IL, LLC, a Delaware limited liability company
		
		  	COLE ID SALT LAKE CITY UT, LLC, a Delaware limited liability company
					
		  	By:	 	Cole Corporate Income Advisors, LLC,	 		  	
					
		  		 	a Delaware limited liability company,	 		  	
					
		  		 	the Manager of each of the foregoing	 		  	
					
		  		 	By:	 	 /s/ John M. Pons
	  	
					
		  		 	Name: John M. Pons	 		  	
					
		  		 	Title:   Executive Vice President	 		  	

 [SIGNATURE PAGES CONTINUE] 

  
 FIRST
AMENDMENT TO CREDIT AGREEMENT 
 CCIT 

									
	ADMINISTRATIVE        	  		  		 		  	
			
	AGENT:	  	BANK OF AMERICA, N.A.,	  	
				
		  		  	as Administrative Agent	  	
					
		  		  	By:	 	 /s/ Judy D. Payne
	  	
				
		  		  	Name: Judy D. Payne	  	
				
		  		  	Title: Vice President	  	
				
	LENDERS:	  		  	BANK OF AMERICA, N.A.,	  	
			
		  		  	as a Lender, L/C Issuer and Swing Line Lender
					
		  		  	By:	 	 /s/ James P. Johnson
	  	
				
		  		  	Name: James P. Johnson	  	
				
		  		  	Title: Senior Vice President	  	
			
		  		  	WELLS FARGO BANK, NATIONAL ASSOCIATION,
			
		  		  	as a Lender
					
		  		  	By:	 	 /s/ Dale Northup
	  	
				
		  		  	Name: Dale Northup	  	
				
		  		  	Title: Vice President	  	

  
 FIRST
AMENDMENT TO CREDIT AGREEMENT 
 CCIT 

 EXHIBIT A 

 
  

 
 CREDIT AGREEMENT

 Dated as of November 29, 2012 
 among 
 COLE CORPORATE INCOME OPERATING PARTNERSHIP, LP, 

as the Borrower, 

BANK OF AMERICA, N.A., 
 as Administrative Agent, Swing Line Lender and L/C Issuer, 
 WELLS FARGO BANK,
NATIONAL ASSOCIATION, 
 as Syndication Agent, 
 REGIONS BANK and 
 U.S. BANK, NATIONAL ASSOCIATION, 

as Co-Documentation Agent 
 and 
 THE OTHER LENDERS PARTY HERETO 

Arranged By: 

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 

and 
 WELLS
FARGO SECURITIES, LLC, 
 as Joint Lead Arrangers and Joint Book Managers

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