Document:

THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. IT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED
IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION OF COUNSEL SATISFACTORY
TO THE CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED.

 

SKINVISIBLE,
INC.

PROMISSORY
NOTE

 

	$______________	__________________,
    2013
	 	Las
    Vegas, Nevada

 

FOR
VALUE RECEIVED, Skinvisible, Inc., a Nevada corporation (the “Company”) promises to pay to _________________
(“Investor”), or its registered assigns, in lawful money of the United States of America the principal sum
of _________________________ ($________), or such lesser amount as shall equal the outstanding principal amount hereof, together
with interest from the date of this Note on the unpaid principal balance at a rate equal to 9% per annum, computed on the basis
of the actual number of days elapsed and a year of 365 days. All unpaid principal, together with any then unpaid and accrued interest
and other amounts payable hereunder, shall be due and payable on the earlier of (i) the second anniversary of the date of
this Note (the “Maturity Date”), (ii) upon the occurrence of an IPO of at least $10,000,000, sale of assets
or change of control, or (iii) when, upon or after the occurrence of an Event of Default (as defined below), such amounts
are declared due and payable by Investor or made automatically due and payable in accordance with the terms hereof. This Note
is one of the “Notes” issued pursuant to the Note Purchase Agreement of even date herewith (as amended, modified or
supplemented, the “Note Purchase Agreement”) between the Company and the Investors (as defined in the Note
Purchase Agreement).

The
following is a statement of the rights of Investor and the conditions to which this Note is subject, and to which Investor, by
the acceptance of this Note, agrees:

1.
 Definitions. As used in this Note, the following capitalized terms have the following meanings:

(a)    
 the “Company” includes the corporation initially executing this Note and any Person which shall succeed to
or assume the obligations of the Company under this Note.

(b)    
“Event of Default” has the meaning given in Section 4 hereof.

(c)    
“GAAP” shall mean generally accepted accounting principles as in effect in the United States of America from
time to time. 

(d)    
“Investor” shall mean the Person specified in the introductory paragraph of this Note or any Person who shall
at the time be the registered holder of this Note. 

(e)    
 “Majority in Interest” shall mean, more than 50% of the aggregate outstanding principal amount of the
Notes issued pursuant to the Note Purchase Agreement.

(f)     
“Material Adverse Effect” shall mean a material adverse effect on (a) the business, assets, operations,
prospects or financial or other condition of the Company; (b) the ability of the Company to pay or perform the Obligations
in accordance with the terms of this Note and the other Transaction Documents and to avoid an Event of Default, or an event which,
with the giving of notice or the passage of time or both, would constitute an Event of Default, under any Transaction Document;
or (c) the rights and remedies of Investor under this Note, the other Transaction Documents or any related document, instrument
or agreement. 

(g)    
“Note Purchase Agreement” has the meaning given in the introductory paragraph hereof.

(h)    
“Obligations” shall mean and include all loans, advances, debts, liabilities and obligations, howsoever arising,
owed by the Company to Investor of every kind and description (whether or not evidenced by any note or instrument and whether
or not for the payment of money), now existing or hereafter arising under or pursuant to the terms of this Note and the Note Purchase
Agreement, including, all interest, fees, charges, expenses, attorneys’ fees and costs and accountants’ fees and costs
chargeable to and payable by the Company hereunder and thereunder, in each case, whether direct or indirect, absolute or contingent,
due or to become due, and whether or not arising after the commencement of a proceeding under Title 11 of the United States
Code (11 U. S. C. Section 101 et seq.), as amended from time to time (including post-petition interest) and whether
or not allowed or allowable as a claim in any such proceeding. 

    	

    	 

    

(i)      
“Person” shall mean and include an individual, a partnership, a corporation (including a business trust), a
joint stock company, a limited liability company, an unincorporated association, a joint venture or other entity or a governmental
authority.

(j)     
“Securities Act” shall mean the Securities Act of 1933, as amended.

(k)    
“Subsidiary” shall mean (a) any corporation of which more than 50% of the issued and outstanding
equity securities having ordinary voting power to elect a majority of the Board of Directors of such corporation is at the time
directly or indirectly owned or controlled by the Company, (b) any partnership, joint venture, or other association of which
more than 50% of the equity interest having the power to vote, direct or control the management of such partnership, joint
venture or other association is at the time directly or indirectly owned and controlled by the Company, (c) any other entity
included in the financial statements of the Company on a consolidated basis.

(l)      
“Transaction Documents” shall mean this Note, each of the other Notes issued under the Note Purchase Agreement
and the Note Purchase Agreement.

2.      
Interest. Accrued interest on this Note shall be payable monthly to the Investor and paid as per instructions on
Exhibit B. 

3.      
Prepayment. Upon five days prior written notice to Investor, the Company may prepay this Note in whole or in part;
provided that: (i) any prepayment of this Note may only be made in connection with the prepayment of all Notes issued
under the Note Purchase Agreement on a pro rata basis, based on the respective aggregate outstanding principal amounts of each
such Note, and (ii) any such prepayment will be applied first to the payment of expenses due under this Note, second to interest
accrued on this Note and third, if the amount of prepayment exceeds the amount of all such expenses and accrued interest, to the
payment of principal of this Note.

4.      
Events of Default. The occurrence of any of the following shall constitute an “Event of Default”
under this Note and the other Transaction Documents:

(a)    
Failure to Pay. The Company shall fail to pay (i) when due any principal or interest payment on the due date hereunder
and such payment shall not have been made within ten days of the Company’s receipt of Investor’s written notice
to the Company of such failure to pay; or

(b)    
Voluntary Bankruptcy or Insolvency Proceedings. The Company shall (i) discontinue its business, (ii) apply
for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of
its property, (iii) make a general assignment for the benefit of its or any of its creditors, (iv) be dissolved or liquidated,
(v) become insolvent (as such term may be defined or interpreted under any applicable statute), (vi) commence a voluntary
case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy,
insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession
of its property by any official in an involuntary case or other proceeding commenced against it, or (vii) take any action
for the purpose of effecting any of the foregoing; 

(c)    
Involuntary Bankruptcy or Insolvency Proceedings. Proceedings for the appointment of a receiver, trustee, liquidator or
custodian of the Company or of all or a substantial part of the property thereof, or an involuntary case or other proceedings
seeking liquidation, reorganization or other relief with respect to the Company or the debts thereof under any bankruptcy, insolvency
or other similar law now or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not
be dismissed or stayed within 60 days of commencement;

(d)Foreclosure
Proceedings. Proceedings are commenced to foreclose a security interest or lien on any property or assets of the Company as
a result of default in the payment or performance of any debt of the Company for borrowed money in excess of $1,000,000;

(e)Judgment
Against the Company. A final judgment for the payment of money in excess of $200,000 is entered against the Company by a court
of competent jurisdiction, and such judgment is not discharged in accordance with its terms within sixty (60) days after the date
such judgment is entered, and within such period an appeal therefrom has not been prosecuted and the execution thereof caused
to be stayed during such appeal; or

(f)Garnishment.
An attachment or garnishment is levied against the assets or properties of the Company involving an amount in excess of $1,000,000,
and such levy is not vacated or otherwise terminated within sixty (60) days after the date of its effectiveness;

    	2

    	 

    

5.      
Rights of Investor upon Default. Upon the occurrence or existence of any Event of Default (other than an Event of
Default described in Sections 4(b) or 4(c)) and at any time thereafter during the continuance of such Event
of Default, Investor may, with the consent of a Majority in Interest of the holders of the Notes issued under the Note Purchase
Agreement, by written notice to the Company, declare all outstanding Obligations payable by the Company hereunder to be immediately
due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived.
Upon the occurrence or existence of any Event of Default described in Sections 4(b) and 4(c), immediately
and without notice, all outstanding Obligations payable by the Company hereunder shall automatically become immediately due and
payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived. In addition
to the foregoing remedies, upon the occurrence or existence of any Event of Default and subject to the consent of a Majority in
Interest of the holders of the Notes issued under the Note Purchase Agreement, Investor may exercise any other right power or
remedy granted to it by the Transaction Documents or otherwise permitted to it by law, either by suit in equity or by action at
law, or both.

6.      
Security Interest. 

(a)    
Grant. As collateral security for the prompt, complete, and timely satisfaction of all present and future indebtedness,
liabilities, duties, and obligations of Company to Investor evidenced by or arising under this Note, and including, without limitation,
all principal and interest payable under this Note, any future advances added to the principal amount due hereunder (collectively,
the “Obligations”), the Company hereby pledges, assigns and grants to Investor a continuing security interest and
lien in all of the Company’s right, title and interest in and to the property, whether now owned or hereafter acquired by
the Company and whether now existing or hereafter coming into existence or acquired, including the proceeds of any disposition
thereof, described on Exhibit “A” attached hereto and incorporated herein by this reference (collectively, the “Collateral”).
As applicable, the terms of this Note with respect to the Company’s granting of a security interest in the Collateral to
Investor shall be deemed to be a security agreement under applicable provisions of the Uniform Commercial Code (“UCC”),
with the Company as the debtor and Investor as the secured party. 

(b)    
Perfection. Upon the execution and delivery of this Note, the Company authorizes Investor to file such financing statements
and other documents in such offices as shall be necessary or as Investor may reasonably deem necessary to perfect and establish
the priority of the liens granted by this Note, including any amendments, modifications, extensions or renewals thereof. The Company
agrees, upon Investor’s request, to take all such actions as shall be necessary or as Investor may reasonably request to
perfect and establish the priority of the liens granted by this Note, including any amendments, modifications, extensions or renewals
thereof.

7.      
Successors and Assigns. Subject to the restrictions on transfer described in Section 9 below, the rights
and obligations of the Company and Investor shall be binding upon and benefit the successors, assigns, heirs, administrators and
transferees of the parties.

8.      
Waiver and Amendment. Any provision of this Note may be amended, waived or modified upon the written consent of
the Company and the holders of a Majority in Interest.

    	3

    	 

    

9.      
Transfer of this Note. Investor may transfer this Note to a parent, subsidiary or other affiliate of the Investor,
provided that the transferee has agreed in writing for the benefit of the Company to take and hold such Note subject to,
and to be bound by, the terms and conditions set forth in this Agreement. Each Note thus transferred and each certificate representing
the securities thus transferred shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance
with the Securities Act, unless in the opinion of counsel for the Company such legend is not required to ensure compliance with
the Securities Act. The Company may issue stop transfer instructions to its transfer agent in connection with such restrictions.
Subject to the foregoing, transfers of this Note shall be registered upon registration books maintained for such purpose by or
on behalf of the Company. Prior to presentation of this Note for registration of transfer, the Company shall treat the registered
holder hereof as the owner and holder of this Note for all purposes whatsoever, and the Company shall not be affected by notice
to the contrary. 

10.   
Notices. All notices, requests, demands, consents, instructions or other communications required or permitted hereunder
shall in writing and faxed, mailed or delivered to each party at the respective addresses of the parties as set forth in the Note
Purchase Agreement, or at such other address or facsimile number as the Company shall have furnished to Investor in writing. All
such notices and communications will be deemed effectively given the earlier of (i) when received, (ii) when delivered
personally, (iii) one business day after being delivered by facsimile (with receipt of appropriate confirmation), (iv) one
business day after being deposited with an overnight courier service of recognized standing or (v) four days after being
deposited in the U.S. mail, first class with postage prepaid.

11.   
Pari Passu Notes. Investor acknowledges and agrees that the payment of all or any portion of the outstanding principal
amount of this Note and all interest hereon shall be pari passu in right of payment and in all other respects to the other
Notes issued pursuant to the Note Purchase Agreement or pursuant to the terms of such Notes. In the event Investor receives payments
in excess of its pro rata share of the Company’s payments to the Investors of all of the Notes, then Investor shall hold
in trust all such excess payments for the benefit of the holders of the other Notes and shall pay such amounts held in trust to
such other holders upon demand by such holders.

12.   
Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum
rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed
a payment of principal and applied against the principal of this Note.

13.   
Waivers. The Company hereby waives notice of default, presentment or demand for payment, protest or notice of nonpayment
or dishonor and all other notices or demands relative to this instrument.

14.   
Governing Law. This Note and all actions arising out of or in connection with this Note shall be governed by and
construed in accordance with the laws of the State of Nevada, without regard to the conflicts of law provisions of the State of
Nevada, or of any other state.

    	4

    	 

    

The
Company has caused this Note to be issued as of the date first written above.

 

	SKINVISIBLE,
    INC.
	By: /s/
    Terry Howlett
	Terry Howlett
	CEO

    	5

    	 

    

EXHIBIT
A

COLLATERAL

 

US
Patent rights granted for the Company’s Sunscreen Products: US patent number #8,128,913: “Sunscreen Composition with
Enhanced UV-A Absorber Stability and Methods.”

    	6

    	 

    

EXHIBIT
B

PAYMENT

 

 

Please
send monthly interest payment by bank wire to:

 

Credit
Account of_________________________________

Name
of Bank: ____________________________________

Account
Number: _________________________________

Federal
Routing Number: ___________________________

 

Or
send by mail to:

 

Name
of Investor____________________________

Address:
____________________________________

___________________________________

_____________________________________

 

    	7exhibit10_1.htm

EXHIBIT 10.1

 

 

SECOND AMENDMENT TO TERM LOAN AGREEMENT

 

THIS SECOND AMENDMENT TO TERM LOAN AGREEMENT (this “Amendment”) made as of the 21st day of August, 2013, by and among KITE REALTY GROUP, L.P., a Delaware limited partnership (“Borrower”), KITE REALTY GROUP TRUST, a real estate investment trust formed under the laws of the State of Maryland (“REIT”), the Subsidiaries executing below as Guarantors (the “Subsidiary Guarantors”; REIT and the Subsidiary Guarantors, collectively the “Guarantors”), KEYBANK NATIONAL ASSOCIATION, a national banking association (“KeyBank”), THE OTHER LENDERS WHICH ARE SIGNATORIES HERETO (KeyBank and the other lenders which are signatories hereto, collectively, the “Lenders”), and KEYBANK NATIONAL ASSOCIATION, a national banking association, as Administrative Agent for the Lenders (the “Agent”).

 

W I T N E S S E T H:

 

WHEREAS, Borrower, Agent, the Lenders and certain other parties entered into that certain Term Loan Agreement dated as of April 30, 2012, as amended by that certain First Amendment to Term Loan Agreement dated as of February 26, 2013 (as amended, the “Credit Agreement”); and

 

WHEREAS, Borrower has requested that the Agent and the Lenders make certain modifications to the terms of the Credit Agreement; and

 

WHEREAS, the Agent and the Lenders have agreed to make such modifications subject to the execution and delivery by Borrower and Guarantors of this Amendment.

 

NOW, THEREFORE, for and in consideration of the sum of TEN and NO/100 DOLLARS ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto do hereby covenant and agree as follows:

 

1. Definitions.  All the terms used herein which are not otherwise defined herein shall have the meanings set forth in the Credit Agreement.

 

2. Modification of the Credit Agreement.  Borrower, the Lenders and Agent do hereby modify and amend the Credit Agreement as follows:

 

(a) By deleting the number “$115,000,000.00” appearing in the first “WHEREAS” paragraph on page 1 of the Credit Agreement, and inserting in lieu thereof the number “$230,000,000.00”.

 

(b) By deleting in their entirety the definitions of “Applicable Margin”, “Borrowing Base”, “Termination Date” and “Term Loan”, appearing in Section 1.1. of the Credit Agreement, and inserting in lieu thereof the following:

 

“Applicable Margin” means (a) as of any date of determination prior to such time as Administrative Agent receives written notice that Parent or Borrower has first obtained an Investment Grade Rating from a Rating Agency, the percentage rate set forth below corresponding to the Leverage Ratio in effect at such time:

 

 

  

  

  

 

	
Level

	
Leverage Ratio

	
Applicable Margin

For LIBOR Loans

	
Applicable Margin

For Base Rate Loans

	
1

	
Less than or equal to 45%

	
1.45%

	
0.45%

	
2

	
Greater than 45% but less than or equal to 50.0%

	
1.65%

	
0.65%

	
3

	
Greater than 50.0% but less than or equal to 55.0%

	
1.80%

	
0.80%

	
4

	
Greater than 55.0% but less than or equal to 60.0%

	
2.00%

	
1.00%

	
5

	
Greater than 60.0%

	
2.45%

	
1.45%

The Applicable Margin shall be determined by the Agent under this clause (a) from time to time, based on the Leverage Ratio as set forth in the Compliance Certificate most recently delivered by the Borrower pursuant to Section 9.3.  Any adjustment to the Applicable Margin shall be effective (i) in the case of a Compliance Certificate delivered in connection with quarterly financial statements of the Parent delivered pursuant to Section 9.3., as of the date 50 days following the end of the last day of the applicable fiscal period covered by such Compliance Certificate, and (ii) in the case of a Compliance Certificate delivered in connection with annual financial statements of the Parent delivered pursuant to Section 9.3., as of the date 95 days following the end of the last day of the applicable fiscal period covered by such Compliance Certificate.  If the Borrower shall fail to deliver a Compliance Certificate within the time period required under Section 9.3., the Applicable Margin shall be determined based on Level 5 until the Borrower delivers the required Compliance Certificate, in which case the Applicable Margin shall be determined as provided above effective as of the date of delivery of such Compliance Certificate.  If the Borrower shall deliver a Compliance Certificate which is subsequently determined to be incorrect and, if correct when delivered, would have resulted in a higher Applicable Margin, Borrower shall pay to the Agent, within five (5) days after demand, any additional interest that would have accrued and been payable on any Loans using such higher Applicable Margin during the period that such lower Applicable Margin was applied incorrectly.

 

(b)           From and after the time that Administrative Agent receives written notice from Parent or Borrower that Parent or Borrower has first obtained an Investment Grade Rating from a Rating Agency, “Applicable Margin” shall mean, as of any date of determination, a percentage per annum determined by reference to the Credit Rating Level as set forth below (provided that any interest accrued prior to receipt of such notice that is payable at the Applicable Margin determined by reference to the Leverage Ratio shall be payable as provided in Section 2.4.):

 

 

  

  

  

 

	
Pricing

Level

	
 

Credit Rating Level

	
Applicable Margin for LIBOR

Rate Loans

	
Applicable Margin for

Base Rate Loans

	
1

	
Credit Rating Level 1

	
1.05%

	
0.05%

	
2

	
Credit Rating Level 2

	
1.15%

	
0.15%

	
3

	
Credit Rating Level 3

	
1.30%

	
0.30%

	
4

	
Credit Rating Level 4

	
1.65%

	
0.65%

	
5

	
Credit Rating Level 5

	
2.05%

	
1.05%

The Applicable Margin for each Base Rate Loan shall be determined by reference to the Credit Rating Level in effect from time to time, and the Applicable Margin for any Interest Period for all LIBOR Loans comprising part of the same LIBOR tranche shall be determined by reference to the Credit Rating Level in effect on the first day of such Interest Period; provided, however, that no change in the Applicable Margin resulting from the application of the Credit Rating Levels or a change in the Credit Rating Level shall be effective until three (3) Business Days after the date on which the Administrative Agent receives written notice of the application or change of the Credit Rating Levels pursuant to Section 9.4.(o) or receives written notice from the applicable Rating Agency of the application or a change in such Credit Rating Level, or otherwise confirms such application or change through information made publicly available by such Rating Agency.  From and after the first time that the Applicable Margin is based on Parent’s or Borrower’s Investment Grade Rating, the Applicable Margin shall no longer be calculated by reference to the Leverage Ratio.

 

“Borrowing Base” as of any date, the lesser of (a) an amount equal to sixty-two and one-half percent (62.5%) of the then-current Unencumbered Pool Value, and (b) the maximum principal amount of debt which would not cause the Borrowing Base Debt Service Coverage Ratio to be less than 1.40 to 1.  The Borrowing Base shall equal $0 if at any time (i) there are fewer than fifteen (15) Eligible Unencumbered Pool Properties or (ii) the Unencumbered Pool Value is less than $320,000,000.

 

“Termination Date” means August 21, 2018 or such later date to which the Termination Date may be extended pursuant to Section 2.12.

 

“Term Loan” means an individual term loan or the aggregate term loans, as the case may be, in the maximum principal amount of $230,000,000.00 made by the Lenders hereunder pursuant to Section 2.1, as such maximum principal amount may be increased pursuant to Section 2.11.

 

(c) By inserting the following new definitions in Section 1.1. of the Credit Agreement, in appropriate alphabetical order:

 

 

  

  

  

 

“Credit Rating” means, as of any date of determination, the highest of the credit ratings (or their equivalents) then assigned to Parent’s or Borrower’s long-term senior unsecured non-credit enhanced debt by any of the Rating Agencies.  A credit rating of BBB- from S&P is equivalent to a credit rating of Baa3 from Moody’s and vice versa.  A credit rating of BBB from S&P is equivalent to a credit rating of Baa2 from Moody’s and vice versa.  It is the intention of the parties that if Parent or Borrower only has one credit rating in effect from a Rating Agency, then such rating shall apply.  If Parent or Borrower shall have obtained a credit rating from both of the Rating Agencies, the highest of the credit ratings shall control.  If Parent or Borrower shall have obtained a credit rating from one or more of the Rating Agencies and shall thereafter lose such credit rating (whether as a result of a withdrawal, suspension, election to not obtain a rating, or otherwise) from all of the Rating Agencies that have provided a credit rating, the Parent or Borrower shall be deemed for the purposes hereof not to have a credit rating.  If at any time both of the Rating Agencies or any Rating Agency which has issued a credit rating of Parent or Borrower shall no longer perform the functions of a securities rating agency, then the Borrower and the Administrative Agent shall promptly negotiate in good faith to agree upon a substitute rating agency or agencies (and to correlate the system of ratings of each such substitute rating agency with that of the rating agency being replaced) and, pending such amendment, (i) in the case of a cessation of the functions of the Rating Agencies that have provided a credit rating, the Applicable Rate shall be determined by reference to the rating most recently in effect prior to such cessation and (ii) in the case of a cessation of function of one Rating Agency and not another Rating Agency that has provided a credit rating, the Credit Rating of the other of the Rating Agencies shall continue to apply.

 

“Credit Rating Level” means one of the following five pricing levels, as applicable, and provided that, from and after the time that Administrative Agent receives written notice that Parent or Borrower has first obtained an Investment Grade Rating from at least one of the Rating Agencies, during any period that the Parent has no Credit Rating Level, Credit Rating Level 5 shall be the applicable Credit Rating Level:

 

“Credit Rating Level 1” means the Credit Rating Level which would be applicable for so long as the Credit Rating is greater than or equal to A- by S&P or A3 by Moody’s;

 

“Credit Rating Level 2” means the Credit Rating Level which would be applicable for so long as the Credit Rating is greater than or equal to BBB+ by S&P or Baa1 by Moody’s and Credit Rating Level 1 is not applicable;

 

“Credit Rating Level 3” means the Credit Rating Level which would be applicable for so long as the Credit Rating is greater than or equal to BBB by S&P or Baa2 by Moody’s and Credit Rating Levels 1 and 2 are not applicable;

 

“Credit Rating Level 4” means the Credit Rating Level which would be applicable for so long as the Credit Rating is greater than or equal to BBB- by S&P or Baa3 by Moody’s and Credit Rating Levels 1, 2 and 3 are not applicable; and

 

“Credit Rating Level 5” means the Credit Rating Level which would be applicable for so long as the Credit Rating is less than BBB- by S&P or Baa3 by Moody’s or there is no Credit Rating.

 

 

  

  

  

 

“Extension Request” has the meaning set forth in Section 2.12.

 

“Investment Grade Rating” means a Credit Rating of BBB- or better by S&P or Baa3 or better by Moody’s.

 

“Rating Agencies” means S&P and Moody’s, collectively, and “Rating Agency” means S&P or Moody’s.

 

(d) By deleting in its entirety Section 2.7.(a) of the Credit Agreement, and inserting in lieu thereof the following:

 

“(a)           Optional.  The Borrower shall have the right, at its election, to prepay the outstanding amount of the applicable Loans, as a whole or in part, without a prepayment premium or penalty; provided, that if any full or partial prepayment of the outstanding amount of any LIBOR Loan is made other than on the last day of the Interest Period relating thereto, such prepayment shall be accompanied by the payment of any amounts required to compensate the Lenders for any losses, costs or expenses which may reasonably be incurred as a result of such prepayment.  The Borrower shall give the Agent, no later than 10:00 a.m., Cleveland time, at least five (5) Business Days’ prior written notice of any prepayment pursuant to this Section 2.7., in each case specifying the proposed date of payment of the Loan and the principal amount to be paid.”

 

(e) By deleting in its entirety the number “$125,000,000” appearing in the fifth (5th) line of Section 2.11. of the Credit Agreement, and inserting in lieu thereof the number “$300,000,000”.

 

(f) By inserting the following as Section 2.12. of the Credit Agreement:

 

“Section 2.12.                                Extension of Termination Date.

 

The Borrower shall have the right, exercisable one time, to extend the Termination Date to February 21, 2019.  The Borrower may exercise such right only by executing and delivering to the Agent at least 90 days prior to the current Termination Date, a written request for such extension (an “Extension Request”).  The Agent shall forward to each Lender a copy of the Extension Request delivered to the Agent promptly upon receipt thereof.  Subject to satisfaction of the following conditions, the Termination Date shall be extended as provided above:  (a) at the time of such notice, immediately prior to such extension and immediately after giving effect thereto, (i) no Default or Event of Default shall exist and (ii) 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 on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents and (b) the Borrower shall have paid the Fees payable under Section 3.6.(b).”

 

 

  

  

  

 

(g) By deleting in its entirety Section 3.6. of the Credit Agreement and inserting in lieu thereof the following:

 

“Section 3.6.                      Fees.

 

(a)           The Borrower agrees to pay the administrative and other fees of the Agent and the Arrangers as may be agreed to in writing by the Borrower, the Agent and the Arrangers from time to time.

 

(b)           If the Borrower exercises its right to extend the Termination Date in accordance with Section 2.12., the Borrower agrees to pay to the Agent for the account of each Lender a fee equal to fifty hundredths of one percent (0.50%) of the amount of such Lender’s outstanding Loans at the time of such extension.  Such fee shall be due and payable in full on the date the Agent receives the Extension Request pursuant to such Section.”

 

(h) By deleting in its entirety Section 8.15. of the Credit Agreement;

 

(i) By deleting the word “and” appearing at the end of Section 9.4.(n) of the Credit Agreement, by renumbering Section 9.4.(o) of the Credit Agreement as Section 9.4.(p), and inserting the following as Section 9.4.(o) of the Credit Agreement:

 

“(o)           Credit Rating.  Promptly upon becoming aware thereof, notice of a change in the Credit Rating given by a Rating Agency or any announcement that any rating is “under review” or that such rating has been placed on a watch list or that any similar action has been taken by a Rating Agency; and”

 

(j) By inserting the words “(other than pursuant to an extension of the Termination Date pursuant to Section 2.12.)” after the words “or portions thereof owing to such Lender” in clause (ii) of the proviso in the fourth sentence of Section 13.5.(c) of the Credit Agreement.

 

(k) By deleting in its entirety Section 13.6.(b)(iv) of the Credit Agreement and inserting in lieu thereof the following:

 

“(iv)           modify the definition of the term “Termination Date” (except as provided in Section 2.12.) or otherwise postpone any date fixed for any payment of any principal of, or interest on, any Loans or any other Obligations (including the waiver of any Default or Event of Default as a result of the nonpayment of any such Obligations as and when due)(which action shall be deemed only to affect those Lenders the Termination Date of whose Commitments or other such date for payment are postponed or extended);”

 

 

  

  

  

 

3. Commitments.

 

(a) Borrower and Guarantors hereby acknowledge and agree that as of the effective date of this Amendment and following satisfaction of all conditions thereto as provided herein, the amount of each Lender’s Commitment shall be the amount set forth on Schedule 2 attached hereto.  In connection with this Amendment, each of JPMorgan Chase Bank, N.A., U.S. Bank National Association, Regions Bank, SunTrust Bank, and Fifth Third Bank, an Ohio banking corporation (each individually a “New Lender” and collectively, the “New Lenders”) shall be issued a Note in the principal face amount of its Commitment, which will be a “Note” under the Credit Agreement, and each New Lender shall be a Lender under the Credit Agreement.

 

(b) By its signature below, each New Lender, subject to the terms and conditions hereof, hereby agrees to perform all obligations with respect to its respective Commitment as if such New Lender were an original Lender under and signatory to the Credit Agreement having a Commitment, as set forth above, equal to its respective Commitment, which obligations shall include, but shall not be limited to, the obligation to make Loans to the Borrower with respect to its Commitment as of the effective date of this Amendment, and the obligation to indemnify the Agent as provided in the Credit Agreement.  Each New Lender makes and confirms to the Agent and the other Lenders all of the representations, warranties and covenants of a Lender under Article XII of the Credit Agreement.  Without limiting the foregoing, each New Lender (a) represents and warrants that (i) it is legally authorized to enter into this Amendment, (ii) it is an “accredited investor” (as such term is used in Regulation D of the Securities Act), (b) confirms it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant thereto and such other documents and information (including without limitation the Loan Documents) as it has deemed appropriate to make its own credit analysis and decision to become a party to and be bound by the Credit Agreement, (c) appoints and authorizes the Agent to take such action as contractual representative on its behalf and to exercise such powers under the Loan Documents as are delegated to the Agent by the terms thereof together with such powers as are reasonably incidental thereto; and (d) agrees that it hereby becomes a party to and shall be bound by the Credit Agreement and the other Loan Documents to which the other Lenders are a party and will perform in accordance therewith all of the obligations which are required to be performed by it as a Lender.  Each of the Lenders, including the New Lenders, acknowledges and confirms that its address for its lending office is as set forth on Schedule 2 attached hereto.  Not in limitation of the foregoing, each New Lender acknowledges and agrees that the Agent and the other Lenders are making no representations or warranties with respect to, and each New Lender hereby releases and discharges the Agent and the other Lenders for any responsibility or liability for:  (i) the present or future solvency or financial condition of the Borrower, any Subsidiary or any other Loan Party, (ii) any representations, warranties, statements or information made or furnished by the Borrower, any Subsidiary or any other Loan Party in connection with the Credit Agreement or otherwise, (iii) the validity, efficacy, sufficiency, or enforceability of the Credit Agreement, any other Loan Document or any other document or instrument executed in connection therewith, or the collectability of the Obligations, (iv) the perfection, priority or validity of any Lien with respect to any collateral at any time securing the Obligations under the Notes or the Credit Agreement and (v) the performance or failure to perform by the Borrower or any other Loan Party of any obligation under the Credit Agreement or any other Loan Document to which it is a party.  Further, each New Lender acknowledges that it has, independently and without reliance upon the Agent, or on any affiliate or subsidiary thereof, or any of the other Lenders and based on the financial statements supplied by the Borrower and such other documents and information as it has deemed appropriate, made its own credit analysis and decision to become a Lender under the Credit Agreement.  Each New Lender also acknowledges that it will, independently and without reliance upon the Agent or any of the other Lenders 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 Credit Agreement or any other Loan Documents or pursuant to any other obligation.  Except as expressly provided in the Credit Agreement, the Agent shall have no duty or responsibility whatsoever, either initially or on a continuing basis, to provide each New Lender with any credit or other information with respect to the Borrower or any other Loan Party or to notify each New Lender of any Default or Event of Default.  No New Lender has relied on the Agent as to any legal or factual matter in connection herewith or in connection with the transactions contemplated hereunder or thereunder.

 

 

  

  

  

 

4. References to Credit Agreement.  All references in the Loan Documents to the Credit Agreement shall be deemed a reference to the Credit Agreement, as modified and amended herein.

 

5. Acknowledgment of Borrower and Guarantors.  Borrower and Guarantors hereby acknowledge, represent and agree that the Loan Documents, as modified and amended herein, remain in full force and effect and constitute the valid and legally binding obligation of Borrower and Guarantors, as applicable, enforceable against Borrower and Guarantors in accordance with their respective terms (except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors’ rights and the effect of general principles of equity), and that the execution and delivery of this Amendment does not constitute, and shall not be deemed to constitute, a release, waiver or satisfaction of Borrower’s or any Guarantor’s obligations under the Loan Documents.

 

6. Representations and Warranties.  Borrower and Guarantors represent and warrant to Agent and the Lenders as follows:

 

(a) Authorization.  The execution, delivery and performance of this Amendment and any agreements executed and delivered in connection herewith and the transactions contemplated hereby and thereby (i) are within the authority of Borrower and Guarantors, (ii) have been duly authorized by all necessary proceedings on the part of the Borrower and Guarantors, (iii) do not and will not conflict with or result in any breach or contravention of any provision of law, statute, rule or regulation to which any of the Borrower or Guarantors is subject or any judgment, order, writ, injunction, license or permit applicable to any of the Borrower or Guarantors, (iv) do not and will not conflict with or constitute a default (whether with the passage of time or the giving of notice, or both) under any provision of the partnership agreement or certificate, certificate of formation, operating agreement, articles of incorporation or other charter documents or bylaws of, or any mortgage, indenture, agreement, contract or other instrument binding upon, any of the Borrower or Guarantors or any of their respective properties or to which any of the Borrower or Guarantors is subject, and (v) do not and will not result in or require the imposition of any lien or other encumbrance on any of the properties, assets or rights of any of the Borrower or Guarantors.

 

(b) Enforceability.  The execution and delivery of this Amendment and any agreements executed and delivered in connection herewith are valid and legally binding obligations of Borrower and Guarantors enforceable in accordance with the respective terms and provisions hereof and thereof, except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors’ rights and the effect of general principles of equity.

 

 

  

  

  

 

(c) Approvals.  The execution, delivery and performance of this Amendment and any agreements executed and delivered in connection herewith and the transactions contemplated hereby and thereby do not require the approval or consent of any Person or the authorization, consent, approval of or any license or permit issued by, or any filing or registration with, or the giving of any notice to, any court, department, board, commission or other governmental agency or authority other than those already obtained and any disclosure filings with the SEC as may be required with respect to this Amendment.

 

(d) Reaffirmation.  Borrower and Guarantors reaffirm and restate as of the date hereof each and every representation and warranty made by the Borrower and Guarantors and their respective Subsidiaries in the Loan Documents or otherwise made by or on behalf of such Persons in connection therewith except for representations or warranties that expressly relate to an earlier date.

 

7. No Default.  By execution hereof, the Borrower and Guarantors certify that as of the date of this Amendment and immediately after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.

 

8. Waiver of Claims.  Borrower and Guarantors acknowledge, represent and agree that none of such Persons has any defenses, setoffs, claims, counterclaims or causes of action of any kind or nature whatsoever arising on or before the date hereof with respect to the Loan Documents, the administration or funding of the Loan or with respect to any acts or omissions of Agent or any Lender, or any past or present officers, agents or employees of Agent or any Lender pursuant to or relating to the Loan Documents, and each of such Persons does hereby expressly waive, release and relinquish any and all such defenses, setoffs, claims, counterclaims and causes of action arising on or before the date hereof, if any.

 

9. Ratification.  Except as hereinabove set forth, all terms, covenants and provisions of the Credit Agreement remain unaltered and in full force and effect, and the parties hereto do hereby expressly ratify and confirm the Loan Documents as modified and amended herein.  Guarantors hereby consent to the terms of this Amendment.  Nothing in this Amendment or any other document delivered in connection herewith shall be deemed or construed to constitute, and there has not otherwise occurred, a novation, cancellation, satisfaction, release, extinguishment or substitution of the indebtedness evidenced by the Notes or the other obligations of Borrower and Guarantors under the Loan Documents.

 

10. Effective Date.  This Amendment shall be deemed effective and in full force and effect as of the date hereof upon satisfaction of the following conditions:

 

(a) the execution and delivery of this Amendment by Borrower, Guarantors, Agent and all of the Lenders;

 

(b) An opinion of counsel to the Borrower and the Guarantors addressed to the Agent and the Lenders covering such matters as the Agent may reasonably request;

 

(c) A Note duly executed by the Borrower in favor of each New Lender in the amount set forth next to such Lender's name on Schedule 2 attached hereto;

 

 

  

  

  

 

(d) Evidence that the Borrower shall have paid all fees due and payable with respect to this Amendment; and

 

(e) Such other resolutions, certificates, documents, instruments and agreements as the Agent may reasonably request.

 

The Borrower will pay the reasonable fees and expenses of Agent in connection with this Amendment in accordance with Section 13.2. of the Credit Agreement.  All interest and fees accrued prior to the date of this Amendment under provisions of the Credit Agreement modified by this Amendment shall remain payable at the due dates set forth in the Credit Agreement.

 

11. Amendment as Loan Document.  This Amendment shall constitute a Loan Document.

 

12. Counterparts.  This Amendment may be executed in any number of counterparts which shall together constitute but one and the same agreement.

 

13. MISCELLANEOUS.  THIS AMENDMENT 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.  This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective permitted successors, successors-in-title and assigns as provided in the Credit Agreement.

 

 

  

  

  

IN WITNESS WHEREOF, the parties hereto have hereto set their hands and affixed their seals as of the day and year first above written.

 

BORROWER:

 

KITE REALTY GROUP, L.P., a Delaware limited partnership

 

	
  

	
By:

	
Kite Realty Group Trust, its sole General Partner

 

By:  /s/ Daniel R. Sink                                                                                   

Daniel R. Sink, Executive Vice President and Chief Financial Officer

 

 

REIT:

 

KITE REALTY GROUP TRUST

 

By:                 /s/ Daniel R. Sink                                                                               

Name:            Daniel R. Sink

Title:              Executive Vice President and Chief Financial Officer

 

 

SUBSIDIARY GUARANTORS:

EACH GUARANTOR WHICH IS A SUBSIDIARY AS LISTED ON SCHEDULE 1

 

	
  

	
By:

	
Kite Realty Group, L.P., the sole member of each such Guarantor

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

By:          /s/ Daniel R. Sink                                                                 

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

[Signatures Continued On Next Page]

 

 

  

  

  

KRG COURTHOUSE SHADOWS, LLC

 

	
  

	
By:

	
KRG Courthouse Shadows I, LLC, its sole member

 

By:           Kite Realty Group, L.P., its sole member

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

	
  

	
By:

	/s/ Daniel R. Sink

	
  

	
Name:

	
Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

CORNER ASSOCIATES, LP

 

	
  

	
By:

	
KRG Corner Associates, LLC, its sole general partner

 

By:           Kite Realty Group, L.P., its sole member

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

By:              /s/ Daniel R. Sink                                                   

Name:         Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

KITE REALTY EDDY STREET LAND, LLC

 

By:           Kite Realty Holding, LLC, its sole member

By:           Kite Realty Group, L.P., its sole member

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

By:          /s/ Daniel R. Sink                                                      

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

[Signatures Continued On Next Page]

 

 

  

  

  

KITE REALTY NEW HILL PLACE, LLC

KITE REALTY PEAKWAY AT 55, LLC

 

By:           Kite Realty Development, LLC, their sole member

 

By:           Kite Realty Holding, LLC, its sole member

 

	
  

	
By:

	
Kite Realty Group, L.P., its sole member

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

By:          /s/ Daniel R. Sink                                            

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

 

KRG CEDAR HILL VILLAGE, LP

KRG PIPELINE POINTE, LP

KRG SUNLAND II, LP

By:           KRG Texas, LLC, their sole general partner

By:           KRG Capital, LLC, its sole member

By:           Kite Realty Group, L.P., its sole member

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

By:          /s/ Daniel R. Sink                                            

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

[Signatures Continued On Next Page]

 

 

 

  

  

  

KRG MARKET STREET VILLAGE, LP

 

By:           KRG Market Street Village I, LLC, its sole general partner

 

By:           Kite Realty Group, L.P., its sole member

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

By:              /s/ Daniel R. Sink                                                  

Name:         Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

KRG SAN ANTONIO, LP

 

By:           Kite San Antonio, LLC, its sole general partner

 

By:           Kite Realty Group, L.P., its sole member

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

By:          /s/ Daniel R. Sink                                                      

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

KRG EAGLE CREEK III, LLC

 

KRG PANOLA II, LLC

 

By:           KRG Capital, LLC, their sole member

 

By:           Kite Realty Group, L.P., its sole member

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

By:          /s/ Daniel R. Sink                                                      

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

[Signatures Continued On Next Page]

 

 

  

  

  

KRG CEDAR HILL PLAZA, LP

	
  

	
By:

	
KRG CHP Management, LLC, its sole general partner

 

By:        /s/ Daniel R. Sink                                                                             

Name:   Daniel R. Sink

Title:     Executive Vice President and Chief Financial Officer

 

KRG CREC/KS PEMBROKE PINES, LLC

 

By:           KRG Pembroke Pines, LLC, its sole member

 

By:           Kite Realty Group, L.P., its sole member

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

By:          /s/ Daniel R. Sink                                                      

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

[Signatures Continued On Next Page]

 

 

  

  

  

KRG PLAZA GREEN, LLC

 

By:           Kite McCarty State, LLC, its member

 

By:           Kite Realty Group, L.P., its sole member

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

By:          /s/ Daniel R. Sink                                                      

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

By:           Preston Commons, LLP, its member

 

By:           Kite Realty Group, L.P., its managing partner

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

By:          /s/ Daniel R. Sink                                                      

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

[Signatures Continued On Next Page]

 

 

  

  

  

KRG WOODRUFF GREENVILLE, LLC

 

By:           Kite McCarty State, LLC, its member

 

By:           Kite Realty Group, L.P., its sole member

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

By:          /s/ Daniel R. .Sink                                                      

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

By:           Kite Pen, LLC, its member

 

By:           Kite Realty Group, L.P., its sole member

 

	
  

	
By:

	
Kite Realty Group Trust, its sole general partner

 

By:          /s/ Daniel R. Sink                                                      

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

 

[Signatures Continued On Next Page]

 

 

  

  

  

KRG COOL SPRINGS, LLC

 

By:           KRG CREC/KS Pembroke Pines, LLC, its sole member

 

By:           KRG Pembroke Pines, LLC, its sole member

 

By:           Kite Realty Group, L.P., its sole member

 

By:           Kite Realty Group Trust, its sole general partner

 

By:          /s/ Daniel R. Sink                                                      

Name:     Daniel R. Sink

	
  

	
Title:

	
Executive Vice President and Chief Financial Officer

[Signatures Continued On Next Page]

 

 

 

  

  

  

LENDERS:

 

KEYBANK NATIONAL ASSOCIATION, as Administrative Agent, and as a Lender

 

By:           /s/ James Komperda                                                                          

 

Name:      James Komperda                                                                               

 

Title:       Vice President                                                                               

 

 

[Signatures Continued On Next Page]

 

 

 

  

  

  

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

 

By:      /s/ Winita Lau                                                                               

 

Name:  Winita Lau

 

Title:    Vice President

 

 

[Signatures Continued On Next Page]

 

 

  

  

  

THE HUNTINGTON NATIONAL BANK

 

By:       /s/ Scott Childs                                                                              

 

Name:  Scott Childs

 

Title:    Senior Vice President

 

 

[Signatures Continued On Next Page]

 

 

  

  

  

RAYMOND JAMES BANK, N.A. (f/k/a Raymond James Bank, FSB)

 

By:       /s/ Alexander L. Rody                                                                              

 

Name:  Alexander L. Rody

 

Title:   Senior Vice President

 

 

[Signatures Continued On Next Page]

 

 

  

  

  

JPMORGAN CHASE BANK, N.A., as Documentation Agent and as a Lender

 

By:        /s/ Elizabeth Johnson                                                                              

 

Name:   Elizabeth Johnson

 

Title:     Authorized Signer

 

 

[Signatures Continued On Next Page]

 

 

  

  

  

U.S. BANK NATIONAL ASSOCIATION as Documentation Agent and as a Lender

 

By:        /s/ Renee Lewis                                                                             

 

Name:  Renee Lewis

 

Title:    Senior Vice President

 

 

[Signatures Continued On Next Page]

 

 

  

  

  

               BANK OF AMERICA, N.A., as Documentation Agent and as a Lender

 

By:        /s/ Anne Kruer                                                                             

 

Name:   Anne Kruer

 

Title:     Vice President

 

 

[Signatures Continued On Next Page]

 

 

  

  

  

REGIONS BANK

 

By:        /s/ Kerri L. Raines                                                                             

 

Name:   Kerri L. Raines

 

Title:     Vice President

 

 

[Signatures Continued On Next Page]

 

 

 

  

  

  

SUNTRUST BANK

 

By:        /s/ Daniel J. Reddy                                                                              

 

Name:   Daniel J. Reddy

 

Title:     Senior Vice President

 

 

[Signatures Continued On Next Page]

 

 

 

  

  

  

FIFTH THIRD BANK, an Ohio banking corporation

 

By:        /s/ Michael Perillo                                                                             

 

Name:   Michael Perillo

 

Title:     Officer

 

 

 

 

 

 

  

  

  

SCHEDULE 1

 

	  	
Name of Subsidiary

	
State of Formation

	
1. 

	
82 & Otty, LLC

	
Indiana

	
2. 

	
Brentwood Land Partners, LLC

	
Indiana

	
3. 

	
Eagle Plaza II, LLC

	
Indiana

	
4. 

	
Glendale Centre, L.L.C.

	
Indiana

	
5. 

	
Kite Eagle Creek, LLC

	
Indiana

	
6. 

	
Kite Greyhound III, LLC

	
Indiana

	
7. 

	
Kite Greyhound, LLC

	
Indiana

	
8. 

	
Kite King’s Lake, LLC

	
Indiana

	
9. 

	
Kite New Jersey, LLC

	
Delaware

	
10. 

	
Kite Washington Parking, LLC

	
Indiana

	
11. 

	
Kite West 86th Street II, LLC

	
Indiana

	
12. 

	
KRG Bolton Plaza, LLC

	
Indiana

	
13. 

	
KRG Castleton Crossing, LLC

	
Indiana

	
14. 

	
KRG College I, LLC

	
Indiana

	
15. 

	
KRG College, LLC

	
Indiana

	
16. 

	
KRG Cool Creek Outlots, LLC

	
Indiana

	
17. 

	
KRG Cove Center, LLC

	
Indiana

	
18. 

	
KRG Eagle Creek IV, LLC

	
Indiana

	
19. 

	
KRG Eastwood, LLC

	
Indiana

	
20. 

	
KRG Eddy Street FS Hotel, LLC

	
Indiana

	
21. 

	
KRG Estero, LLC

	
Indiana

	
22. 

	
KRG Fox Lake Crossing, LLC

	
Delaware

	
23. 

	
KRG Gainesville, LLC

	
Indiana

	
24. 

	
KRG ISS LH OUTLOT, LLC

	
Indiana

	
25. 

	
KRG Lithia, LLC

	
Indiana

	
26. 

	
KRG New Hill Place, LLC

	
Indiana

	
27. 

	
KRG Oleander, LLC

	
Indiana

	
28. 

	
KRG Peakway at 55, LLC

	
Indiana

	
29. 

	
KRG Rivers Edge, LLC

	
Indiana

	
30. 

	
KRG Rivers Edge II, LLC

	
Indiana

	
31. 

	
KRG Vero, LLC

	
Indiana

	
32. 

	
KRG Waterford Lakes, LLC

	
Indiana

	
33. 

	
Noblesville Partners, LLC

	
Indiana

 

 

  

  

  

SCHEDULE 2

 

LENDERS AND COMMITMENTS

 

	
 

Name and Address

	
 

Commitment

	
KeyBank National Association

1200 Abernathy Road, Suite 1550

Atlanta, Georgia  30328

Attention:  James Komperda

Telephone:  770-510-2160

Facsimile:  770-510-2195

 

	
$30,000,000.00

	
Wells Fargo Bank, National Association

123 North Wacker Drive, Suite 1900

Chicago, Illinois  60606

Attn:  Gail L. Duran

Telephone:  (312) 345-1923

Telecopy:  (312) 782-0969

 

	
$30,000,000.00

	
JPMorgan Chase Bank, N.A.

10 S. Dearborn IL1-0958

Chicago, Illinois 60603

Attn: Elizabeth Johnson

Telephone: (312) 325-5008

Telecopy: (312) 325-5174

 

	
$25,000,000.00

	
U.S. Bank National Association

209 South LaSalle Street, Suite 210

Chicago, Illinois 60604

Attn: Renee Lewis

Telephone: (312) 325-8877

Telecopy: (312) 325-8852

 

	
$25,000,000.00

	
Bank of America, N.A.

30 S. Meridian Street, Suite 800

Indianapolis, Indiana 46204

Attn: Anne Kruer

Telephone: (317) 612-6644

Telecopy: (317) 612-6643

 

	
$25,000,000.00

 

 

  

  

  

 

 

	 Name and Address	 Commitment
	
Raymond James Bank, N.A.

710 Carillon Parkway

St. Petersburg, Florida 33716

Attn:  James Armstrong

Telephone:  (727) 567-7919

Telecopy:  (866) 205-1396

 

	
$20,000,000.00

	
Regions Bank

6805 Morrison Blvd., Suite 210

Charlotte, North Carolina

Attn: Kerri Raines

Telephone: (704) 362-3564

Telecopy: (704) 362-3594

 

	
$20,000,000.00

	
SunTrust Bank

8330 Boone Blvd., 8th Floor

Vienna, Virginia 22182

Attn: Daniel J. Reddy

Telephone: (646) 632-3701

Telecopy: (703) 442-1570

 

	
$20,000,000.00

	
Fifth Third Bank

222 S. Riverside Plaza, 30th Floor

Chicago, Illinois 60606

Attn: Michael Perillo

Telephone: (312) 704-6829

Telecopy: (312) 704-7364

 

	
$20,000,000.00

	
The Huntington National Bank

200 Public Square, CM-17

Cleveland, Ohio  44114

Attn:  Scott Childs

Telephone:  (216) 515-6529

Telecopy:    (877) 824-9123

 

	
$15,000,000.00

	
TOTAL

	
$230,000,000.00

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