Document:

MOODY NATIONAL REIT I, INC. 10-Q

 

Exhibit
10.2

 

AMENDED
AND RESTATED ASSIGNMENT
AND ASSUMPTION OF PURCHASE
AGREEMENT

 

This Amended and Restated Assignment and Assumption of Purchase Agreement ("Assignment") is entered into between Moody National
REIT I, Inc., a Maryland corporation ("Assignor"), and Moody National Realty Company, L.P., a Texas limited partnership ("Assignee"),
as of September 22, 2015 ("Effective Date").

 

RECITALS

 

A. Pursuant to the terms of that certain Purchase and Sale Agreement dated May 5, 2015 by and between Revere Hospitality,
LLC, a Delaware limited liability company ("Seller''), as seller, and Assignor, as buyer, as amended, modified and supplemented
(the "Purchase Agreement"), Assignor agreed to acquire the Property (as such term is defined in the Purchase Agreement) commonly
referred to as Hampton Inn Boston Logan Airport.

 

B. Although certain amendments and notices purported to indicate that the Agreement had been assigned to an affiliate, no
previous assignment was formally authorized, executed or delivered, and this Assignment is being amended and restated to correctly
identify the parties hereto.

 

C. Assignor desires to assign Assignor's rights and interests in the Purchase Agreement to Assignee, and Assignee wishes to
assume all of Assignors rights and interests in the Contract.

 

D. The Parties desire to enter into this Assignment to, among other things, assign the Assignor's rights and interests in
the Purchase Agreement to Assignee and to evidence Assignee's assumption of Assignor's obligations and liabilities under the
Purchase Agreement.

 

ASSIGNMENT

 

NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree
as follows:

 

1. Payment. In consideration for this Assignment, Assignee shall pay Assignor the sum of One Million and No/100 Dollars ($1,000,000.00),
the same being the amount of the Earnest Money under the Agreement.

 

2.
Assignment of Contract. 
Assignor hereby assigns and transfers its interest in the Purchase Agreement to Assignee. Assignor hereby represents and warrants
that no previous assignment of the Agreement was previously effectuated and that Assignor has all right, title and interest
in the Agreement.

 

3.
Assumption. Assignee hereby acknowledges and agrees to all of the terms of the Purchase Agreement and accepts the foregoing assignment
and assumes and agrees to perform all obligations of Assignor under the Purchase Agreement, in accordance with the terms thereof.

 

4.
Counterparts: Facsimile Signatures. This Assignment may be executed in multiple counterparts which, when combined together, shall constitute an original of this
Assignment. In addition, facsimile signatures of the parties shall be effective on all counterparts of this Assignment.

 

    	 

    	 

    

 

Executed as of the date set forth above. 

 

	 	ASSIGNOR:
	 	 
	 	Moody National REIT I, Inc., a Maryland
 corporation
	 	 
	 	 
	 	By:	 	 
	 	Name:	Brett C. Moody	 
	 	Title:	CEO	 
	 	 
	 	 
	 	ASSIGNEE:
	 	 
	 	Moody National Realty Company, L.P., a Texas
 limited partnership
	 	 
	 	By:       Moody Realty Corporation, a Texas
 corporation, its general partner
	 	 
	 	 
	 	By:	 	 
	 	Name:	Brett C. Moody	 
	 	Title:	PresidentMOODY NATIONAL REIT I, INC. 10-Q

Exhibit 10.3

Assignment and Assumption of Agreement
of Purchase and Sale

 

This Assignment and Assumption of Agreement
of Purchase and Sale (“Assignment”) is entered into between Moody National REIT I, Inc., a Maryland corporation (“Assignor”),
and Moody National REIT II, Inc., a Maryland corporation (“Assignee”), as of September 25, 2015 (“Effective Date”).

 

RECITALS

 

A.            Pursuant
to the terms of that certain Agreement of Purchase and Sale dated May 11, 2015 by and between Mueller Hospitality, LP, a Texas
limited partnership (“Seller”), as seller, and Assignor, as buyer, as amended, modified and supplemented (the “Purchase
Agreement”), Assignor agreed to acquire the Property (as such term is defined in the Purchase Agreement) located at 1200
Barbara Jordan Boulevard, Building 4, Austin, Travis
County, Texas.

 

B.            Assignor desires to assign Assignor’s
rights and interests in the Purchase Agreement to Assignee, and Assignee wishes to assume all of Assignors rights and interests
in the Contract.

 

C.            The Parties desire to enter into this
Assignment to, among other things, assign the Assignor’s rights and interests in the Purchase Agreement to Assignee and to
evidence Assignee’s assumption of Assignor’s obligations and liabilities under the Purchase Agreement.

 

ASSIGNMENT

 

NOW, THEREFORE, for valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1.             Assignment of Contract. Assignor
hereby assigns and transfers its interest in the Purchase Agreement to Assignee. This Assignment does not release Assignor of liability
under the Purchase Agreement.

 

2.             Assumption. Assignee hereby acknowledges
and agrees to all of the terms of the Purchase Agreement and accepts the foregoing assignment and assumes and agrees to perform
all obligations of Assignor under the Purchase Agreement, in accordance with the terms thereof.

 

3.             Counterparts; Facsimile Signatures.
This Assignment may be executed in multiple counterparts which, when combined together, shall constitute an original of this Assignment.
In addition, facsimile signatures of the parties shall be effective on all counterparts of this Assignment.

 

[Signature Page to Follow]

 

    	 

    	 

    

Executed as of the date set forth above.

 

	 	ASSIGNOR:
	 	 	 
	 	Moody National REIT I, Inc., a Maryland
corporation
	 	 	 
	 	By:	
	 	Name:	Brett C. Moody
	 	Title:	CEO
	 	 	 
	 	ASSIGNEE:
	 	 	 
	 	Moody National REIT II, Inc., a Maryland
corporation
	 	 	 
	 	By:	
	 	Name:	Brett C. Moody
	 	Title:	CEOEX-4.1

 Exhibit 4.1 

MHR Fund Management LLC 

1345 Avenue of the Americas, 42nd Floor 

New York, NY 10105 
 Telephone:
(212) 262-0005 
 Facsimile: (212) 262-9356 

November 10, 2015 
 Emisphere Technologies, Inc. 

4 Becker Farm Road, Suite 103 
 Roseland, NJ 07068, USA 

Attention: President and Chief Executive Officer 
 Ladies and
Gentlemen: 
 Reference is made to (a) the Second Amended and Restated 13% Senior Secured Convertible Notes (the “Convertible
Notes”), dated as of August 20, 2014, by Emisphere Technologies, Inc. (the “Company”) in favor of each of (i) MHR Institutional Partners IIA LP, (ii) MHR Capital Partners Master Account LP, (iii) MHR
Capital Partners (100) LP and (iv) MHR Institutional Partners II LP (each, a “MHR Entity” and, collectively, the “MHR Entities”) and (b) the Senior Secured Loan Agreement (the “Loan
Agreement”), dated as of August 20, 2014, by and among the Company and the MHR Entities, as may be amended, restated or otherwise modified from time to time. 

WHEREAS, under the Loan Agreement and the Convertible Notes, the Company is required to have Net Sales (as such term is defined in the Loan
Agreement and in the Convertible Notes) of Eligen-B12 during the Fiscal Year (as such term is defined in the Loan Agreement and in the Convertible Notes) ended December 31, 2015 of at least $4.3 million (the “2015 Net Sales
Milestone”); 
 WHEREAS, the failure to achieve the 2015 Net Sales Milestone would result in the occurrence of an Event of Default
(as such term is defined in the Loan Agreement and in the Convertible Notes) under the Loan Agreement and the Convertible Notes; and 

WHEREAS, the Company has advised the MHR Entities that it does not expect to meet the 2015 Net Sales Milestone and has requested that the MHR
Entities waive any Event of Default that will arise under the Loan Agreement and Convertible Notes as a result of the Company’s failure to meet the 2015 Net Sales Milestone. 

NOW, THEREFORE, the MHR Entities agree as follows: 

1. This letter shall constitute a waiver of (i) any Event of Default (as such term is defined in the Loan Agreement) under
Section 8(a)(xiii) of the Loan Agreement and (ii) any Event of Default (as such term is defined in the Convertible Notes) under Section 8(a)(xiii) of the Convertible Notes that, in either case, may arise directly as a result of the
Company’s failure to meet the 2015 Net Sales Milestone. 

  
 1 

 2. Except as expressly set forth herein, the Loan Agreement and Convertible Notes are unmodified
and remain in full force and effect. Execution of this waiver by the MHR Entities does not and shall not constitute a waiver of or otherwise affect any rights or remedies to which the MHR Entities are or may at any time be entitled pursuant to the
Loan Agreement or Convertible Notes nor, except as expressly set forth herein, shall the same constitute at any time a waiver of any default or event of default with respect to the Loan Agreement or the Convertible Notes. Except as expressly set
forth herein, this letter shall not be used in connection with or affect any other requests by the Company to the MHR Entities under either the Loan Agreement or the Convertible Notes. 

[Remainder of Page Intentionally Left Blank] 

  
 2 

					
	Very truly yours,
	
	MHR Institutional Partners II LP
		
	By:	 	MHR Institutional Advisors II LLC,
		 	its General Partner
			
		 	By:	 	 /s/ Janet Yeung

		 	Name:	 	Janet Yeung
		 	Title:	 	Authorized Signatory
	
	MHR Institutional Partners IIA LP
		
	By:	 	MHR Institutional Advisors II LLC,
		 	its General Partner
			
		 	By:	 	 /s/ Janet Yeung

		 	Name:	 	Janet Yeung
		 	Title:	 	Authorized Signatory
	
	MHR Capital Partners Master Account LP
		
	By:	 	MHR Advisors LLC,
		 	its General Partner
			
		 	By:	 	 /s/ Janet Yeung

		 	Name:	 	Janet Yeung
		 	Title:	 	Authorized Signatory
	
	MHR Capital Partners (100) LP
		
	By:	 	MHR Advisors LLC,
		 	its General Partner
			
		 	By:	 	 /s/ Janet Yeung

		 	Name:	 	Janet Yeung
		 	Title:	 	Authorized Signatory

 [MHR Eligen-B12 Waiver]

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