Document:

EX-10.2

 Exhibit 10.2 
  

					
	

		 FIRST REPUBLIC BANK

It’s a privilege to serve you®
		 

 RENEWAL AND MODIFICATION AGREEMENT 

This Renewal and Modification Agreement (the “Agreement”), dated as of June 26, 2015 for reference purposes only, is made by
and between Evercore Partners Services East L.L.C. (the “Borrower”) and First Republic Bank (the “Lender”), with reference to the following facts: 

A. Borrower and Lender entered into that certain Loan Agreement (Line of Credit) dated June 27, 2013 (as amended, the “Loan
Agreement”) pursuant to which a line of credit in the current maximum principal amount of Fifty Million and 00/100 Dollars ($50,000,000.00) (the “Loan”) was made to Borrower, and such Loan has previously been renewed by
Borrower and Lender. The Loan is evidenced by Borrower’s Amended and Restated Promissory Note dated November 20, 2014 (the “Note”). 

B. Borrower has requested that Lender further renew the Loan and modify certain of the Loan Documents on the terms and conditions of this
Agreement. 
 C. All terms with an initial capital letter that are used but not defined in this Agreement shall have the respective meanings
given to such terms in the Loan Agreement or the Note. 
 THEREFORE, for valuable consideration, the Lender and Borrower agree as follows:

 1. Modification of Loan Documents. 

1.1 Principal Amount of the Loan.   Effective as of the date hereof, the principal amount of the Loan (and the face
amount of the Note) is hereby increased from the principal amount of Fifty Million and 00/100 Dollars ($50,000,000.00) to Seventy-Five Million and 00/100 Dollars ($75,000,000.00) pursuant to the terms of the Second Amended and Restated Promissory
Note dated June 26, 2015 (the “Second Amended and Restated Promissory Note”). 
 1.2 Extension of Maturity
Date.   The Maturity Date is extended to June 27, 2016 pursuant to the terms of the Second Amended and Restated Promissory Note, at which time the entire unpaid principal balance of the Second Amended and Restated Promissory Note
and all accrued but unpaid interest and any other outstanding amounts due Lender under the Loan documents shall be due and payable. 

1.3 Definition of Accounts.   Section 1.3 of the Third Party Security Agreement is amended to read as follows:

 1.3 Accounts.  All presently existing and hereafter arising accounts (as defined in the Code)
owing to Pledgor arising out of (i) the sale or lease of goods, (ii) the sale or licensing of software, patents, trademarks, copyrights and other intellectual property or technology, (iii) the rendering of services (whether or not
earned by performance), or (iv) any credit insurance, guaranties, and other security therefor; and excluding any such accounts arising out of the equity sales, trading and research business of Evercore LP and its affiliates. 

2. Execution of Second Amended and Restated Promissory Note.   Concurrently with the execution of this Agreement,
Borrower shall execute and deliver to Lender the Second Amended and Restated Promissory Note. All references to the “Note” in the Loan Documents shall hereafter refer to and be the Second Amended and Restated Promissory Note, which when
executed in favor of and delivered to Lender shall supersede and replace, in its entirety, the Note (as referenced in Recital A hereof). 

 3. Authority.   Borrower has the full power and authority to enter into
and perform all of its obligations under this Agreement, and this Agreement, when executed by the Person(s) signing this Agreement on behalf of Borrower, shall constitute a legal, valid and binding obligation of Borrower enforceable in accordance
with its terms. The Person(s) executing this Agreement on behalf of Borrower have been duly authorized to execute this Agreement by all required action on the part of Borrower. 

4. Renewal/Modification Fees.   Borrower shall pay to the Lender, upon execution of this Agreement, a loan fee of
$247,500 and a documentation fee of $1,000.00, which fees shall be debited from account number                      held with Lender. 

5. Entire Agreement.   This Agreement and the Second Amended and Restated Promissory Note and the other Loan Documents
contain the entire agreement and understanding among the parties concerning the matters covered thereby and supersede all prior and contemporaneous agreements, statements, understandings, terms, conditions, negotiations, representations and
warranties, whether written or oral, made by the Lender or Borrower concerning the matters covered by this Agreement and the other Loan Documents. 

6. Modifications.   This Agreement may be modified only by a written agreement signed by Borrower and the Lender. 

7. NO CLAIMS.   BORROWER ACKNOWLEDGES AND AGREES THAT (A) IT HAS NO OFFSETS OR DEDUCTIONS OF ANY KIND AGAINST ANY
OR ALL OF THE OBLIGATIONS; AND (B) IT HAS NO DEFENSES OR OTHER CLAIMS OR CAUSES OF ACTION OF ANY KIND AGAINST THE LENDER IN CONNECTION WITH THE LOAN OR THE COLLATERAL. 

8. Fees.   Borrower shall pay to the Lender all reasonable and documented out-of-pocket costs, charges, and expenses
paid or incurred by the Lender in connection with the preparation of this Agreement and the transactions contemplated hereby, including reasonable attorneys’ fees and costs, filing fees, recording charges, and document preparation fees. 

9. Continuing Effect of Documents.   The Second Amended and Restated Promissory Note, the Loan Agreement and other
Loan Documents, as modified by this Agreement, shall remain in full force and effect in accordance with their terms and are affirmed by Borrower. 

10. Counterparts; Electronic Signatures; Successors.   This Agreement may be executed in counterparts, each of which
shall constitute on original, and all of which together shall constitute one and the same agreement. A signed copy of this Agreement transmitted by a party to another party via facsimile or an emailed “.pdf” version shall be binding on the
signatory thereto. Notwithstanding the delivery of the faxed or emailed copy, Borrower agrees to deliver to Lender original executed copies of this Agreement. This Agreement shall be binding upon and shall inure to the benefit of the parties and
their respective permitted successors and assigns. 
  

									
	BORROWER:				LENDER:
			
	Evercore Partners Services East L.L.C.				First Republic Bank
					
	By:		 /s/ Robert B. Walsh
				By:		 /s/ Thomas Ehrhardt

					
	Name:		 Robert B. Walsh
				Name:		 Thomas Ehrhardt

					
	Title:		 CFO
				Title:		 Vice President

  
 2EX-10.3

 Exhibit 10.3 
  

					
	

		 FIRST REPUBLIC BANK

It’s a privilege to serve you®
		

 SECOND AMENDED AND RESTATED PROMISSORY NOTE 

(Line of Credit - Prime Rate Adjustable - Interest Only) 
  

											
	 $75,000,000.00
										June 26, 2015

 1. Promise to Pay.  In installments and at the times stated in this Note, for value
received, Evercore Partners Services East L.L.C (“Borrower”), promises to pay to First Republic Bank (“Lender”), or order, at 111 Pine Street, San Francisco, California 94111, Attention: Commercial Loan Operations,
or at such other place as the Lender may from time to time designate in writing, the principal sum of Seventy Five Million and no/100 Dollars ($75,000,000.00), or so much thereof as may be disbursed by the Lender, with interest from the date
of initial disbursement of all or any part of the principal of this Note (the “Disbursement Date”) on unpaid principal at the interest rate or interest rates provided for in this Note. This Second Amended and Restated Promissory Note
(“Note”) supersedes and replaces in its entirety that certain Amended and Restated Promissory Note dated November 20, 2014. 

2. Interest Rate; Payment of Principal and Interest. 

2.1 Certain Definitions.  For purposes of this Note, the following terms shall have the following definitions: 

(a) Note Rate.  The per annum interest rate on the principal sum of this Note which is outstanding from time to time. 

(b) Index.  The rate of interest published in the Western Edition of The Wall Street Journal as the U.S. “prime
rate”. 
 (c) Interest Payment Date.  July 1, 2015 and the same date of each month thereafter to and
including the same date of the month immediately preceding the month in which the Maturity Date occurs. 
 2.2
Interest.  From the Disbursement Date to the Maturity Date of this Note, the Note Rate shall be equal to the Index plus zero percent (0.0%) per annum rounded upward to the nearest one-eighth (1/8th) of one percentage
point (0.125%), subject to Section 4 below. The Note Rate shall be adjusted concurrently with, and such adjustments shall be effective on the same date as, adjustments announced in the Index. 

2.3 Payments.  Principal and interest shall be due and payable as follows: 

(a) Interest Payments.  Interest shall be payable in arrears commencing on the first (1st) Interest Payment Date after
the Disbursement Date and continuing on each Interest Payment Date thereafter until the Maturity Date. 
 (b) Payment on Maturity
Date.  The entire unpaid principal balance of this Note and all accrued and unpaid interest thereon shall be due and payable on June 27, 2016 (the “Maturity Date”). BORROWER ACKNOWLEDGES AND AGREES THAT
(1) THE LOAN EVIDENCED BY THIS NOTE IS NOT AN AMORTIZING LOAN; AND (2) THE ENTIRE PRINCIPAL BALANCE OF THIS NOTE SHALL BE DUE AND PAYABLE ON THE MATURITY DATE OF THIS NOTE. 

3. Loan Agreement; Interest Computation.  This Note arises out of a Loan Agreement dated June 27, 2013 (as
amended, the “Loan Agreement”) executed by Borrower and Lender. All terms with an initial capital letter that are used but not specifically defined in this Note shall have respective meanings given to such terms in the Loan Agreement. All
payments under this Note shall be made in immediately available funds and shall be credited first to accrued interest then due, thereafter to unpaid principal, and then to other charges, fees, costs, and expenses payable by Borrower under this Note
or in connection with the loan evidenced by this Note (the “Loan”) in such order and amounts as the Lender may determine in its sole and absolute discretion. If any payment of interest is not made when due, at the option of the Lender,
such interest payment shall bear interest at the same rate as principal from and after the due date of the interest payment. Principal and interest shall be payable only in lawful money of the United States of America. The receipt of any check or
other item of payment (a “payment item”) by the Lender, at its option, shall not be considered a payment until such payment item is honored when presented for payment at the drawee bank or institution, and the Lender, at its option, may
delay the credit of such 

 
payment until such payment item is so honored. Notwithstanding anything to the contrary contained in this Note, interest at the rates provided for in this Note shall be computed on the basis of a
three hundred sixty (360) day year for the actual number of days during which the principal balance of this Note is outstanding. Borrower acknowledges and agrees that the calculation of interest on the basis described in the immediately
preceding sentence may result in the accrual and payment of interest in amounts greater than those which would be payable if interest were calculated on the basis of a three hundred sixty-five (365) day year. 

4. After Maturity/Default Rate of Interest.  From and after either (a) the occurrence of an Event of Default
(whether or not the Lender has elected to accelerate unpaid principal and interest under this Note as a result of such Event of Default); or (b) the maturity of this Note (whether the stated maturity date of this Note or the maturity date
resulting from the Lender’s acceleration of unpaid principal and interest), then in either of such circumstances, interest on any unpaid principal balance of this Note that is overdue shall accrue at a rate equal to five percent
(5.00%) per annum above the otherwise applicable Note Rate. 
 5. Late Charge.  If any installment of interest
under this Note is not paid within eleven (11) days after the date on which it is due (other than as a result of Lender’s failure to make any automatic deduction from the Account or Lender’s gross negligence or willful misconduct),
Borrower shall immediately pay a late charge equal to five percent (5.00%) of such installment to the Lender to compensate the Lender for administrative costs and expenses incurred in connection with such late payment. Borrower agrees that the
actual damages suffered by the Lender because of any late installment payment are extremely difficult and impracticable to ascertain, and the late charge described in this Section represents a reasonable attempt to fix such damages under the
circumstances existing at the time this Note is executed. The Lender’s acceptance of any late charge shall not constitute a waiver of any of the terms of this Note and shall not affect the Lender’s right to enforce any of its rights and
remedies against any Person liable for payment of this Note. 
 6. Waivers.  Borrower and all sureties, guarantors,
endorsers and other Persons liable for payment of this Note (a) waive presentment, demand for payment, protest, notice of demand, dishonor, protest and nonpayment, and all other notices and demands in connection with the delivery, acceptance,
performance, default under, and enforcement of this Note; (b) waive the right to assert any statute of limitations as a defense to the enforcement of this Note to the fullest extent permitted by law; (c) consent to all extensions and
renewals of the time of payment of this Note and to all modifications of this Note by the Lender and Borrower without notice to and without in any way affecting the liability of any Person for payment of this Note; and (d) consent to any
forbearance by the Lender and to the release, addition, and substitution of any Person liable for payment of this Note and of any or all of the security for this Note without notice to and without in any way affecting the liability of any Person for
payment of this Note. 
 7. Default.  The Loan Agreement provides, among other things, for the acceleration of the
unpaid principal balance and accrued interest under this Note upon the occurrence of certain events. The Lender, at its option and without notice to or demand on Borrower or any other Person, may terminate any or all obligations which it may have to
extend further credit to Borrower and may declare the entire unpaid principal balance of this Note and all accrued interest thereon to be immediately due and payable upon the occurrence and during the continuation of any Event of Default. 

8. Application of Payments.  Upon the occurrence and during the continuation of any Event of Default, the Lender, at
its option, shall have the right to apply all payments made under this Note to principal, interest, and other charges, fees, costs and expenses payable by Borrower under this Note or in connection with the Loan in such order and amounts as the
Lender may determine in its sole and absolute discretion. 
 9. Modifications; Cumulative Remedies; Loss of Note; Time of
Essence.  No modification or waiver by the Lender of any of the terms of this Note shall be valid or binding on the Lender unless such modification or waiver is in writing and signed by the Lender. The Lender’s rights and
remedies under this Note are cumulative with and in addition to all other legal and equitable rights and remedies which the Lender may have in connection with the Loan. The headings to sections of this Note are for convenient reference only and
shall not be used in interpreting this Note. If this Note is lost, stolen, or destroyed, upon Borrower’s receipt of a reasonably satisfactory indemnification agreement executed by the Lender, or if this Note is mutilated, upon the Lender’s
surrender of the mutilated Note to Borrower, Borrower shall execute and deliver to the Lender a new promissory note which is identical in form and content to this Note to replace the lost, stolen, destroyed or mutilated Note. Time is of the essence
in the performance of each provision of this Note by Borrower. 
 10. Attorneys’ Fees.  If Borrower defaults
under any of the terms of this Note, Borrower shall pay all costs and expenses, including without limitation attorneys’ fees and costs, incurred by the Lender in enforcing this Note immediately upon the Lender’s demand, whether or not any
action or proceeding is commenced by the Lender. 
 11. Applicable Law; Prepayment; Successors.  This Note shall be
governed by and interpreted in accordance with the laws of the State of California. Borrower shall have the right to prepay all or part of the outstanding principal balance of this Note at any time without payment to the Lender of a prepayment fee
or charge. This Note shall be the joint and several obligation of all Persons executing this Note as Borrower and all sureties, guarantors, and endorsers of this Note, and this Note shall be binding upon each of such Persons and their respective
successors and assigns. This Note shall inure to the benefit of the Lender and its successors and assigns. 

  
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 12. Index.  If the Index becomes unavailable, the Lender shall, after
consultation with the Borrower, select a comparable index (the “Substituted Index”). In such event, if applicable, the Lender shall adjust the interest rate spread set forth above (the “Spread”) such that the sum of the
Substituted Index and the adjusted Spread equals the sum of the prior Index plus the prior Spread. Borrower acknowledges that the Index may not represent the lowest interest rate charged by the Lender and that Lender may make loans at, above or
below the Index or based on other reference rates. 
 13. Security.  This Note is secured by the Security
Agreements. 
  

			
	BORROWER:
	
	Evercore Partners Services East L.L.C.
		
	By:		 /s/ Robert B. Walsh

		
	Name:		 Robert B. Walsh

		
	Title:		 CFO

  
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