Document:

Asset Purchase Agreement

 Exhibit 10.1 
 ASSET PURCHASE AGREEMENT 
 BY AND BETWEEN 
 PEDIATRIC SERVICES OF AMERICA, INC., 
 AND 
 MELMEDICA CHILDREN’S HEALTHCARE, INC. 
 DATED: MAY 9, 2006 

 ASSET PURCHASE AGREEMENT 
 THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of May 9, 2006 by and between Pediatric
Services of America, Inc., a Georgia corporation (the “Buyer”) and Melmedica Children’s Healthcare, Inc., an Illinois corporation (“Seller”). 
 W I T N E S S E T H 
 WHEREAS, Seller owns, operates and engages in the business of providing pediatric nursing services (“Business”); 
 WHEREAS, Seller desires to sell to Buyer and Buyer desires to purchase from Seller substantially all of the assets and rights used in or related to the operation or conduct of the Business on the terms and
conditions set forth in this Agreement (the “Acquisition”); and 
 WHEREAS, Concurrent with the execution of this
Agreement, as a condition and inducement to Buyer’s willingness to enter into this Agreement, (i) the Seller and those officers and affiliates of Seller listed on Exhibit A hereto have entered into restrictive covenant agreements
(copies of which are attached hereto) that become effective automatically with the Closing. 
 Terms used in this Agreement are defined in
Article 10 hereof. 
 NOW, THEREFORE, in consideration of the above and the mutual warranties, representations, covenants and
agreements set forth herein, the parties agree as follows: 
 ARTICLE 1 
 PURCHASE OF RIGHTS AND ASSETS 
 1.1 Agreement to Purchase and
Sell. Subject to the terms and conditions set forth herein, Seller agrees to sell, convey, transfer, assign and deliver to Buyer free and clear of any and all Liens, and Buyer agrees to purchase, all of Seller’s rights, title and interest
in and to all of the rights and assets owned by Seller and used or held for use in the operation of the Business (except for the Retained Assets as defined in Section 1.3 below), including, without limitation, the following (collectively, the
“Assets”): 
 (a) All tangible personal property used or held for use in the operation of the Business, including all furniture,
machinery, office furnishings, equipment and equipment leasehold improvements and all office and warehouse supplies existing on the Closing Date including, but not limited to, the items set forth on Schedule 1.1(a); 
 (b) All authorizations, permits and licenses necessary to operate the Business including, but not limited to, those set forth on Schedule 1.1(b);

  

 2 

 (c) All leases set forth on Schedule 1.1(c) including any and all security and other deposits,
advance rents and any other payments made thereunder prior to the Closing (the “Assigned Leases”); 
 (d) Contracts and
agreements relating to the Business set forth on Schedule 1.1(d) (the “Assigned Contracts”); 
 (e) All guarantees,
warranties and rights of Seller against suppliers and manufacturers including, but not limited to, those set forth on Schedule 1.1(e); 
 (f) All intangible assets relating to the operation of the Business, including, but not limited to, all patents, trademarks, service marks and designs and those trade names and service names set forth on Schedule 1.1(f) hereto, data,
information systems and software, and all telephone numbers and the goodwill in or arising from the operation of the Business; 
 (g) All
prepaid items including, without limitation, all equipment, lease and other deposits existing on the Closing Date; 
 (h) All patient lists
and patient medical or operating records, employment records, customer lists, customer contracts and financial records relating to the Business (copies of the foregoing documents may be provided to Buyer in lieu of originals where Seller is required
by Law to retain original documentation; provided, further and in limitation of the foregoing with respect to patient medical records and employment records, Buyer will determine, and the bear the expense of copying, the specific patient medical
records and employment records that Buyer desires to acquire and possess); 
 (i) Except for corporate records and minutes and those books,
records and documents necessary for Seller to collect the Seller Receivables (including the Pledged Receivables), all books, records and documents owned by or required for the operation of the Business (copies of the foregoing documents may be
provided to Buyer in lieu of originals where Seller is required by Law to retain original documentation), with Fifth Third Bank retaining reasonable right of access and inspection, upon reasonable prior notice, to books, records and documents
pertaining to the Seller Receivables, including the Pledged Receivables; 
 (j) All inventory as of the close of business on the Closing Date
and used in the operation of the Business (the “Inventory”); and 
 (l) Any and all assets of whatever type or description
which are (i) reflected in the books and records of the Business, except to the extent any such assets have been disposed of in the ordinary course of business or (ii) used or held for use in the operation of the Business. 
  

 3 

 1.2 Consideration. 
 (a) The total consideration to be paid by Buyer for the Assets shall be an aggregate of One Million Five Hundred Ninety Seven Thousand Six Hundred Sixty Eight Dollars ($1,597,668) (the “Purchase
Price”), which shall be allocated among the Assets as provided in Section 1.7. 
 (b) At the Closing, the Aggregate
Consideration shall be payable as follows: 
 (i) One Hundred Fifty Thousand Dollars ($150,000) (the “Primary Escrow Amount”)
shall be placed in escrow for a period not to exceed one hundred and eighty (180) days after the Closing Date to be disbursed pursuant to the Primary Escrow Agreement in substantially the form attached hereto as Exhibit 4.10(a);

 (ii) A cash payment by wire transfer of immediately available funds to such account or accounts as Fifth Third Bank shall designate in the
aggregate amount of One Million Three Hundred Forty Seven Thousand Six Hundred Sixty Eight Dollars ($1,347,668); and, 
 (iii) One Hundred
Thousand Dollars ($100,000) (the “Gunter Escrow Amount”) shall be placed in escrow to be disbursed to Ms. Karen Gunter pursuant to the Gunter Escrow Agreement in substantially the form attached hereto as Exhibit 4.10(b),
which shall provide for the disbursement of such funds to Ms. Karen Gunter only in the event that Fifth Third Bank is paid all amounts owed to it pursuant to that certain promissory note, dated February 5, 2005, by and among Fifth Third
Bank and Seller. 
 1.3 Retained Assets. The Parties expressly agree that excluded from the Assets sold or assigned to Buyer hereunder
are (i) all accounts receivable arising out of or generated by the Business prior to the Closing, whether or not reduced to a bill or invoice prior to the Closing (the “Seller Receivables”), a listing of which is attached hereto as
Schedule 1.3(a); provided, further, the Parties acknowledge and agree that the Seller Receivables include the accounts receivable that have been pledged as security to Fifth Third Bank pursuant to that certain promissory note, dated
February 5, 2005, by and among Fifth Third Bank and Seller (the “Pledged Receivables”); (ii) all personnel records and other records that the Seller is required by law to retain in its possession; (iii) all governmental
permits and other governmental authorizations that the Seller is required by law to retain in its possession (iv) all cash on hand, cash equivalents, investments and bank accounts of the Seller at the Closing Date other than as set forth in
Section 1.1(1) above, (v) all claims for the refund of Taxes and other governmental charges of whatever nature, (vi) that certain real property lease by and between Seller and MSAC Limited (relating to 17600 Crawford Avenue, Country
Club Hills, Illinois 60478, having a commencement date of February 18, 2006) (the “Country Club Hills Property”), (vii) subject to Section 1.10 hereof, those certain assets located at the Country Club Hills Property as
specified on Schedule 1.3(b) (the “Country Club Hills Inventory”), (viii) all rights, title and interest in and to the Homsys software (including any licenses thereto) utilized by Seller for the billing and collection of
accounts receivable, (ix) those books, records and documents 

  

 4 

 
necessary for Seller and/or Fifth Third Bank to collect the Seller Receivables (including the Pledged Receivables), and (x) without in any manner
limiting the foregoing, those assets listed on Schedule 1.3(c) hereto (collectively, the “Retained Assets”). 
 1.4
Retained Liabilities. Except as specifically set forth in Section 1.5, Seller retains all Liabilities directly or indirectly arising out of or related to (i) the Retained Assets and (ii) the operation of the Business on and
prior to the Closing Date, whether such Liabilities are disclosed on a Schedule hereto or any other document provided to Buyer, known or unknown, disclosed or undisclosed, matured or unmatured, accrued, absolute or contingent on and as of the
Closing Date (collectively, the “Retained Liabilities”). Without limiting the generality of the first sentence of this Section 1.4, Buyer shall not assume or become liable for any obligations or Liabilities of Seller not
specifically described in Section 1.5, including without limitation, the following Retained Liabilities: 
 (a) Any Liability for any
incorrect, erroneous, improper or false billings or requests for reimbursements made by Seller or overpayments received by Seller under any Medicare, Medicaid, or other government or private payor arrangement in respect of goods or services provided
on or prior to the Closing Date or any other violation of Laws or Orders on or prior to the Closing Date; 
 (b) Any Liability for failure by
Seller to have complied with the terms of any corporate integrity programs or compliance plans with Regulatory Authorities; 
 (c) Any
Liability arising out of any breach by Seller prior to or on or as a result of the Closing of any provision of the Seller Agreements (as defined herein) or any other contract to which Seller is a party; 
 (d) Any Liability arising prior to or as a result of the Closing, to any employee, agent, or independent contractor of Seller, whether or not employed by
Buyer after the Closing, or under any benefit arrangement with respect thereto; 
 (e) All wages, commissions, vacation, holiday,
workers’ compensation and sick pay obligations of Seller with respect to its employees, including, but not limited to, the employees engaged in the operation of the Business listed on Schedule 2.14(a), accrued through the Closing Date
and all bonuses and fringe benefits as to such employees accrued through the Closing Date, and all severance pay obligations of Seller to employees resulting from the consummation of the transactions contemplated by the Agreement; 
 (f) Any Liability arising out of any employee benefit plan maintained by or covering employees of Seller, including, but not limited to, the Business
Employees, or to which Seller has made any contribution or to which Seller could be subject to any Liability; 
 (g) Any Liability for any
Taxes of Seller whether disputed or not, including any Liabilities or obligations of Seller relating to any transfer, sales, use, excise, realty transfer, controlling interest, recording, documentary stamp and other similar non-income Taxes and fees
incurred in connection with the consummation of the transactions contemplated in this Agreement (“Transfer Taxes”) as set forth in Section 4.9, and 

  

 5 

 
including any Taxes resulting from any gain on the sale of the Assets pursuant to this Agreement, any Taxes related to the Assets or the Business with
respect to Taxable periods ending on or prior to the Closing Date, and in the case of Taxable periods ending after the Closing Date (but beginning before the Closing Date), the portion of such periods ending on or prior to the Closing Date; and

 (h) Any Liability related to, arising out of, or in connection with the Parties’ waiver of compliance with any Bulk Transfer Act or
any similar statute as enacted in any jurisdiction, domestic or foreign (if applicable), including the defenses thereof and reasonable attorneys’ and other professional fees. 
 (i) Any Liability resulting from Seller’s acts or omissions made on or prior to the Closing Date. 
 1.5 Assumed Liabilities. Buyer shall assume on the Closing Date performance of the Assigned Leases and the Assigned Contracts from and after the
Closing Date, except to the extent any such obligations under such Assigned Leases and the Assigned Contracts relate to a default occurring on or before the Closing Date (the “Assumed Liabilities”). 
 1.6 Time and Place of Closing. The closing of the transaction (the “Closing”) will take place no later than two (2) business
days following satisfaction or waiver of all of the conditions set forth in Article 6 hereof (the “Closing Date”). The place of Closing shall be at Buyer’s offices located at 310 Technology Parkway, Norcross, GA 30092, or such
other place as may be mutually agreed upon by the Parties. The Closing shall be effective as of the close of business on the Closing Date. 
 1.7 Allocation of Consideration. The consideration paid for the Assets and the Restrictive Covenant Agreements, together with any assumed liabilities and capitalizable costs (the “Allocable Consideration”), shall be
allocated as shown on an allocation schedule (the “Allocation Schedule”) to be prepared by Buyer prior to the Closing Date. The allocation set forth in such Allocation Schedule shall comply with the rules of Section 1060 of the
Code and the treasury regulations promulgated thereunder. Except to the extent that a contrary position is required by law, Buyer and Seller agree to be bound by the allocation set forth in the Allocation Schedule for all purposes of Tax reporting,
including the filing of IRS Form 8594 in accordance with the Allocation Schedule, and the filing of an amended IRS Form 8594 in the event a Revised Allocation Schedule is prepared. The Parties agree that the Allocation Schedule shall include an
allocation by state where necessary to calculate applicable state sales or transfer taxes applicable to the transaction. 
 1.8
Prorations. Except as otherwise set forth in this Agreement, the following prorations relating to the Assets will be made as of the Closing Date, with Seller liable to the extent such items relate to any time period on or prior to the Closing
Date and Buyer liable to the extent such items relate to periods after the Closing Date: (i) ad valorem, personal property, real estate, occupancy and other similar Taxes, if any, on or with respect to the Assets; (ii) the amount of
charges for rent, water, telephone, electricity and other 

  

 6 

 
utilities; and (iii) other similar items. The net amount of all such prorations will be settled and paid on the Closing Date. In the event that the
amount of any of the items to be prorated pursuant to this Section 1.8 is not known by Seller and Buyer at the Closing, the proration shall be made based upon the amount of the most recent cost of such item to Seller. After Closing, Buyer and
Seller each shall provide to the other, promptly after receipt, each third party invoice relating to any items so estimated. Within ten (10) business days thereafter, Buyer and Seller shall make any payments to the other that are necessary to
compensate for any difference between the proration made at the Closing and the correct proration based on the third party invoice, and amounts owed by Seller shall be considered a Retained Liability of Parent and amounts owed by Buyer shall be
considered an Assumed Liability of Buyer. 
 1.9 Assignment of Contracts and Agreements. Seller shall assign to Buyer all of
Seller’s rights under the Assigned Contracts and the Assigned Leases. Seller shall use its best efforts to ensure that any such assignment(s) do not preclude, impact or otherwise impair Fifth Third’s right to collect the Pledged
Receivables. Seller shall use commercially reasonable efforts to obtain at the earliest practicable date and prior to the Closing all Consents of third parties related to the consummation of the transactions contemplated hereby and will provide to
Buyer copies of each such Consent as such Consents are obtained. Seller shall be responsible for any out-of-pocket costs required to obtain the Consents for the contracts and agreements assigned pursuant to this Agreement. To the extent that the
assignment of any of such contracts and agreements requires the Consent of another party that is not obtained at the Closing, Buyer may waive its right at the Closing to receive such Consent (if listed on Schedule 6.1(b)) in its sole
discretion, (i) such contracts will not be transferred or assigned at Closing and shall constitute “Deferred Contracts,” (ii) Seller will continue to undertake commercially reasonable efforts to obtain any such Consent
and/or remove any other impediments to the transfer or assignment of such Deferred Contracts at the earliest practicable date and shall transfer or assign such Deferred Contract within three (3) business days after receipt of such Consent,
(iii) until the time of assignment of a Deferred Contract, Seller shall cooperate with Buyer to provide Buyer all benefits under any such contract or agreement and to allow Buyer to perform its obligations under the Assumed Liabilities, to the
same extent as if the Deferred Contract were transferred or assigned to Buyer at the Closing, and each Party shall bear its own administrative expenses incurred in connection with any such arrangement, and (iv) until the time of assignment or
termination of a Deferred Contract, Seller shall, at the request and for the account of Buyer, and subject to Buyer’s direction, enforce, at Buyer’s expense, Seller’s rights thereto or interests therein against other parties.

 1.10 Country Club Hills Inventory Option. The parties hereto acknowledge and agree that for a period of ninety (90) days
following the one (1) year anniversary of the Closing Date (the “Option Period”), Buyer or its affiliates shall, upon (5) five days’ written notice (“Written Notice”) to Seller, have the option to purchase any or
all of the assets comprising the Country Club Hills Inventory for an aggregate purchase price of ten dollars ($10.00). From the date hereof through the Option Period, Seller shall not enter into any agreement to sell, pledge, or otherwise encumber
any Country Club Hills Inventory. Upon Seller’s receipt of Written Notice, the parties shall cooperate in good faith to promptly prepare and execute appropriate documentation to effect the sale of the assets selected for purchase by Buyer.

  

 7 

 ARTICLE 2 
 REPRESENTATIONS AND WARRANTIES OF SELLER 
 Seller represents and warrants to Buyer as follows:

 2.1 Organization, Authority and Capacity. Seller is a corporation duly organized, validly existing and in good standing under the
laws of the State of Illinois. Seller has the full power and authority to carry on its business as it has been and is now being conducted and to own and lease the properties and assets which it now owns or leases. Seller has the full power and
authority (in the case of Seller, the corporate authority) necessary to execute, deliver and perform its obligations under the Acquisition Documents to be executed by it. Seller is duly qualified to do business and is in good standing in every
jurisdiction in which the failure to be so qualified or in good standing would have a Seller Material Adverse Effect. Set forth on Schedule 2.1 is a list of all jurisdictions in which Seller is required to be qualified as a foreign
corporation by reason of its ownership or operation of the Business. 
 2.2 Authorization and Validity. The execution, delivery and
performance of the Acquisition Documents to be executed and delivered by Seller have been duly authorized by all necessary corporate action on the part of Seller. The Acquisition Documents to be executed and delivered by Seller have been or will be,
as the case may be, duly executed and delivered by Seller, and constitute or will constitute the legal, valid and binding obligations of Seller, enforceable against Seller in accordance with their respective terms, except as may be limited by
bankruptcy, insolvency, or other laws affecting creditors’ rights generally, or as may be modified by a court of equity. 
 2.3
Absence of Conflicting Agreements or Required Consents. Except as set forth on Schedule 2.3, the execution, delivery and performance by Seller of the Acquisition Documents to be executed and delivered by Seller: (i) do not require
the Consent of or notice to any Regulatory Authority; (ii) will not conflict with any provision of the charter and bylaws of Seller; (iii) will not conflict with or result in a violation of any Law, ordinance, regulation, ruling, judgment,
order or injunction of any court or Regulatory Authority to which Seller is subject or by which Seller or any of its respective assets or properties are bound; (iv) will not conflict with, constitute grounds for termination of, result in a
breach of, constitute a default under, require any notice under, or accelerate or permit the acceleration of any performance required by the terms of any agreement, instrument, license or permit to which Seller is a party or by which Seller or any
of its respective properties are bound; and (v) will not create any Lien upon any of the Assets. 
 2.4 Governing Documents of the
Sellers. True and correct copies of the certificate or articles of incorporation and all amendments thereto and bylaws of Seller have been provided to Buyer. Buyer has previously been provided with access to the books and records of Seller,
including without limitation, the books of account, which books and records are correct in all material respects and there have been no material transactions involving the Business of Seller which properly should have been set forth 

  

 8 

 
therein and which have not been so set forth. Buyer has previously been provided with access to all of the minutes of Seller, which minutes accurately
reflect in all material respects the proceedings of the board of directors (and all committees thereof) and shareholders of Seller. 
 2.5
Subsidiaries and Investments. 
 (a) Except as set forth on Schedule 2.5(a), Seller has not owned nor does it currently own,
directly or indirectly, of record, beneficially or equitably, any capital stock or other equity, ownership or proprietary interest in any entity or Person, which has an ownership interest in the Assets. 
 (b) Except as listed on Schedule 2.5(b), Seller has not, within the last six (6) months and other than in the ordinary course of its
business, sold or disposed of, by way of asset sale, stock sale, spin-off or otherwise, any assets or business in any way related to the Business or the Assets. 
 2.6 Financial Information. 
 (a) The Business Financial Statements are set forth on Schedule 2.6(a)
and fairly present in all material respects the results of operations for the Business and the Assets and Liabilities set forth therein for the periods set forth therein and have been prepared in accordance with generally accepted accounting
principles consistently applied. 
 (b) Seller is able to pay its debts generally as they become due and is solvent (solvency is defined as
assets exceeding the fair market value of liabilities) and will not be rendered insolvent as a result of the transactions contemplated hereby. Except as set forth on Schedule 2.6 (b), neither Seller nor any of its Affiliates is in breach or
default of any obligation owed to any creditor for borrowed money or any other creditor who may have a Lien on any of its rights or assets, other than any person who is a lienholder by reason of being a lessor of property under an operating lease
with such party. Neither Seller nor any of its Subsidiaries has, either voluntarily or involuntarily, (i) admitted in writing that it is or may become unable to pay its debts generally as they become due, (ii) filed or consented to the
filing against it of a petition in bankruptcy or a petition to take advantage of an insolvency act, (iii) made an assignment for the benefit of its creditors, (iv) consented to the appointment of a receiver for itself or for the whole or
any substantial part of its property, (v) had a petition in bankruptcy filed against it, or (vi) been adjudged a bankrupt or filed a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws or any Law or
statute of the United States of America or any other jurisdiction, (vii) incurred, or believed or reasonably should have believed it would incur, debts that are or will be beyond its ability to pay as such debts mature. 
 (c) Set forth on Schedule 2.6(c) is a list of each creditor to which Seller has granted a security interest in any of the Assets other than in
connection with personal property leases that are not material to the Business. 
  

 9 

 2.7 Absence of Changes. Except as set forth on Schedule 2.7, and except as contemplated by
this Agreement, since December 31, 2005, the Business has been operated only in the ordinary course and Seller has not: 
 (i) suffered
any material adverse change in working capital, financial or otherwise condition, assets, liabilities, reserves, business or operations; 
 (ii) paid, discharged or satisfied any liability other than in the ordinary course of business; 
 (iii) written off as
uncollectible any account receivable other than in the ordinary course of business; 
 (iv) compromised any debts, claims or rights or
disposed of any of its properties or assets; 
 (v) entered into any commitments or transactions not in the ordinary course of business
involving aggregate value in excess of $25,000 or made aggregate capital expenditures or commitments in excess of $25,000; 
 (vi) made any
change in any method of accounting or accounting practice; 
 (vii) sold, assigned or transferred any tangible asset or any patents,
trademarks, trade names, copyrights or other intangible assets; 
 (viii) subjected any of its assets, tangible or intangible, to any Lien;

 (ix) increased any salaries, wages or employee benefits or made any arrangement for payment of any bonus or special compensation for any
employee who devotes substantially all of their time to the operation of the Business other than in the ordinary course of business; 
 (x)
hired or committed to hire any employee; or terminated any employee other than in the ordinary course of business; 
 (xi) terminated or
amended any material contract, license or other instrument or suffered any loss or termination or of a threatened loss or termination of any existing material business arrangement or supplier; 
 (xii) sold or otherwise transferred any interest in the Business or the Assets; 
 (xiii) had any patients for whom billings in the preceding six (6) months exceeded $50,000 either: (a) transferred to the care of another home
care provider; (b) expire; (c) discharged for any reason; (d) re-hospitalized; or (e) experience any change in their insurer or insurance coverage; or 
 (xiv) agreed, whether in writing or otherwise, to take any action described in this Section 2.7. 
  

 10 

 2.8 No Undisclosed Liabilities. Except as listed on Schedule 2.8 or as accrued or reserved
in the Business Financial Statements, to the Knowledge of Seller there are no Liabilities or obligations, whether accrued, absolute, contingent or otherwise, relating to or affecting the Business or the Assets. 
 2.9 Litigation, etc. Except as listed on Schedule 2.9, there is no Litigation pending against Seller affecting or relating to the Business.
Except as listed on Schedule 2.9, no such matter described in the previous sentence is threatened to the Knowledge of Seller and there is no basis for any such action. Except as listed on Schedule 2.9, there are no judgments
against or consent decrees binding on Seller relating to or which affect the Business or Assets. 
 2.10 No Violation of Law. Except
as listed on Schedule 2.10, to the Knowledge of Seller: 
 (a) Seller has not been or is not currently in violation of any applicable
local, state or federal Law, order, injunction or decree, or any other requirement of any governmental body, agency or Regulatory Authority or court related to the Business or the Assets. 
 (b) Seller is not subject to any fine, penalty, Liability or disability as the result of a failure to comply with any requirement of federal, state or
local Law nor has Seller received any notice of such noncompliance related to the Business. 
 2.11 Title to Assets; Sufficiency of Assets
and Employees; No Services. 
 (a) Except as set forth on Schedule 2.11(a), Seller (i) has good and valid title to all of the
personal and mixed, tangible and intangible property, rights and assets included among the Assets which Seller purports to own; (ii) owns such rights, assets and personal property free and clear of all Liens; and (iii) will, upon the
Closing, convey good and valid title to the Assets to Buyer free and clear of any and all Liens. All of the Assets, whether owned or leased, are and will be in the possession and control of and owned by Seller at the Closing, and no other party has
any right or interest in or to the Assets. 
 (b) The Assets, in conjunction with the rights under the other Acquisition Documents, comprise
all of the assets currently used or held for use by the Seller to operate, and are collectively sufficient to provide Buyer with the means and capability to operate, the Business, as and in the manner the Business has been performed by the Seller
prior to the date of this Agreement. 
 (c) Except as set forth on Schedule 2.11(c), there are no services being provided by any
Affiliate of Seller that are necessary for the operation of the Business by Buyer after the Closing Date in the manner the Business has been performed by the Seller prior to the date of this Agreement. 
  

 11 

 (d) Buyer will reasonably cooperate with Seller and Fifth Third Bank regarding the collection of the
Seller Receivables, including the Pledged Receivables; provided, further, Buyer acknowledges and agrees that it will not retain any Seller Receivables, including the Pledged Receivables, which, to Buyer’s Knowledge, are inadvertently or
incorrectly remitted to Buyer. Seller and Business Employees will reasonably cooperate and assist Fifth Third Bank with the collection of the Pledged Receivables; provided, further and without limiting the foregoing, Seller agrees that it will
immediately turn over any funds received on account of the Pledged Receivables to Fifth Third Bank and direct that parties obligated on the Pledged Receivables tender payment to such addresses as provided by Fifth Third Bank. 
  

 12 

 2.12 Real, Personal and Intellectual Property. 
 (a) Seller does not own any real property used in the operation of the Business. Schedule 2.12(a) contains a true and correct description of all
real property leased by Seller and used in the Business, including all tenant improvements located thereon (the “Facilities”). The Facilities are the only real property and improvements used primarily in the Business. Seller has
valid and binding leases for each such property, true and complete copies of which have been made available to Buyer, and (i) the Seller is current with respect to all payments due under such leases, (ii) Seller has complied in all
material respects with its obligations under such leases, and (iii) there are no defaults under any such lease that remain uncured and no condition exists which, with the lapse of time or giving of notice, or both, would give rise to a default
under any such lease. No condemnation or similar actions are currently in effect or, to the Knowledge of Seller, pending against any part of any such real property leased by the Seller in connection with the Business. Further, Seller has not been
expressly notified of a threatened condemnation or similar action against any part of any such real property leased by the Seller in connection with the Business. To the Knowledge of Seller, there are no encroachments, leases, easements, covenants,
restrictions, reservations or other burdens of any nature which could reasonably be expected to impair the use of any such leased real property in a manner consistent with past practices nor does any part of any building structure or any other
improvement thereon encroach on any other property. 
 (b) Except as set forth on Schedule 2.12(b), to the Knowledge of Seller the
present zoning, subdivision, building and other ordinances and regulations applicable to the leased real property listed on Schedule 2.12(a) permit the continued operation, use, occupancy and enjoyment of such real property consistent with
past practices, and, with respect to such leased real property, Seller has received no notices of violations of, and to the Knowledge of Seller, Seller is in compliance with, any applicable zoning, subdivision or building regulation, ordinance or
other Law, regulation, or requirement. Seller has all rights and easements necessary for public ingress thereto and egress therefrom and for the provision of all utility services thereto, including any required curb cut or street opening permits or
licenses for vehicular access over presently existing roads and driveways. No portion of the leased real property listed on Schedule 2.12(a), or any building, structure, fixture or improvement thereon, is the subject of, or affected by, any
condemnation, taking, eminent domain or inverse condemnation proceeding currently instituted or pending, and none of the foregoing are, or, to the Knowledge of the Seller will be, the subject of, or affected by, any such proceedings. 
 (c) The tangible property included in the Assets is in good operating condition and repair, ordinary wear and tear excepted, and, except as disclosed on
Schedule 2.12(c), includes all rights, properties, interests in properties, and assets necessary to permit Buyer to continue the Business after the Closing Date in a manner consistent with past practices. The Seller has only conducted the
Business under such names and at such locations as are identified on Schedule 2.12(c), and all of the Assets are currently located at those locations identified on Schedule 2.12(a). 
  

 13 

 (d) Schedule 2.12(d) contains a complete and correct list of all trademarks, trade names, service
marks, service names, brand names, copyrights, technology rights and licenses, know-how, software and patents, registrations thereof and applications therefor, and any other intellectual property used in the Business, together with a complete list
of all licenses granted by or to Seller with respect to any of the foregoing. Seller is not currently in receipt of any notice of any violation or infringement of, and has no reason to believe that the operation of the Business is violating or
infringing, the rights of others with respect to any such matter. No proceedings have been instituted or are pending or threatened, which challenge the rights of Seller with respect to the intellectual property used, sold or licensed by Seller in
the course of the Business. Except as set forth on Schedule 2.12(d), Seller is not obligated to pay any recurring royalties to any Person with respect to intellectual property related to the Business. 
 (e) Seller will cooperate with Buyer to convey to Buyer in an orderly fashion all software, systems, data and any licenses or any other rights related
thereto used by the Business. 
 2.13 Contracts and Commitments. 
 (a) Schedule 2.13(a) contains a complete and accurate list of all contracts, agreements, commitments, instruments and obligations (whether written
or oral, proposed, contingent or otherwise, but, excluding such obligation requiring financial payments or commitments of less than $2,500 per year) of the Seller, which relate to or affect the Business or the Assets (the “Seller
Agreements”) including those concerning the following matters: 
 (i) the lease, as lessee or lessor, or license, as licensee or
licensor, of any real or personal property (tangible or intangible); 
 (ii) the employment or engagement of any officer, director,
employee, consultant or agent, other than those terminable at will without severance obligation, and any covenant not to compete with any former employees; 
 (iii) any contract or commitment that requires financial payments in the aggregate in excess of $10,000 or performance over a period of more than thirty (30) days; 
 (iv) any arrangement with any person or entity affiliated with or related to Seller or any Affiliate of Seller or any immediate family member thereof;

 (v) any arrangement limiting the freedom of Seller to compete, solicit customers or solicit employees in any manner in any geographic
area or line of business, or requiring Seller to share profits; 
 (vi) any arrangement not in the ordinary course of business under which
Seller has agreed to assume Liabilities of another party or indemnify or hold harmless another party; 
  

 14 

 (vii) any arrangement that could reasonably be anticipated to have a Seller Material Adverse Effect;

 (viii) any arrangement not in the ordinary course of business; 
 (ix) any power of attorney, whether limited or general, granted by or to Seller; 
 (x) any charitable commitment in excess of $2,000 individually per year; 
 (xi) any arrangement with customers, patients, managed care organizations, third party payors, pharmacy benefit managers or drug suppliers that requires financial payments in the aggregate in excess of $10,000 per
year or performance over a period of more than thirty (30) days; and 
 (xii) any other arrangement that requires performance for a
period of more than thirty (30) days or that requires aggregate payments in excess of $10,000. 
 (b) Seller has delivered to Buyer true
and complete copies of all of the written Seller Agreements. Except as indicated on Schedule 2.13(b), the Seller Agreements are valid and effective in accordance with their terms, and there is not under any of Seller Agreements (i) any
existing or claimed default by Seller or event which, with the notice or lapse of time, or both, would constitute a default by Seller or (ii) to the Knowledge of Seller any existing or claimed default by any other party or event which with
notice or lapse of time, or both, would constitute a material default by any such party. Except as indicated on Schedule 2.13(b), the continuation, validity and effectiveness of the Seller Agreements will not be affected by the Acquisition,
and the Acquisition will not result in a breach of or default under, or require the Consent of any other party to, any of the Seller Agreements. There is no actual or threatened termination, cancellation or limitation of Seller Agreements identified
in Section 2.13(a). To the Knowledge of the Seller, there is no pending or threatened bankruptcy, insolvency or similar proceeding with respect to any other party to the Seller Agreements. 
 2.14 Employment and Labor Matters. 
 (a) Other than the Business Employees listed on Schedule 2.14(a), there are no other employees of Seller whose services are engaged in the Business. 
 (b) With respect to the Business Employees, Seller has complied at all times in all material respects with all applicable Laws respecting employment and employment practices, terms and conditions of employment, wages
and hours, and occupational safety and health, including Laws concerning unfair labor practices within the meaning of Section 8 of the National Labor Relations Act, and the employment of non-residents under the Immigration Reform and Control
Act of 1986. 
 (c) Except as disclosed on Schedule 2.14(b), with respect to the Business: 
  

 15 

 (i) there are no charges, governmental audits, investigations, administrative proceedings or complaints
concerning the employment practices of Seller pending, nor has Seller been expressly notified of any such matters being threatened, before any federal, state or local agency or court and, to the Knowledge of Seller, no basis for any such matter
exists; 
 (ii) there are no inquiries, investigations or monitoring of activities pending, nor has Seller been expressly notified of any
such matters being threatened by any state professional board or agency charged with regulating the professional activities of any licensed, registered, or certified professional personnel employed by, credentialed or privileged by, or otherwise
affiliated with Seller and who provides services to the Business; 
 (iii) Seller is not a party to any union or collective bargaining
agreement, no union attempts to organize its employees have been made, nor are any such attempts now threatened; 
 (iv) Seller has not
experienced any organized slowdown, work interruption, strike, or work stoppage by any of its employees; and 
 (v) Seller will not incur
any Liability to any employee or, to the Knowledge of Seller, violate any applicable Laws respecting employment and employment practices as a result of this Acquisition. 
 2.15 Employee Benefit Matters. 
 (a) The Business Employees receive benefits or are eligible under
only the employee pension benefit plans, as defined in Section 3(2) of ERISA, as are listed on Schedule 2.15(a) (the “Pension Plans”). Except as disclosed on Schedule 2.15(a), Seller has never maintained or
contributed to any other employee pension benefit plan, as defined in Section 3(2) of ERISA. 
 (b) The Business Employees receive
benefits or are eligible under only the employee welfare benefit plans, as defined in Section 3(1) of ERISA (including but not limited to, life insurance, medical, hospitalization, holiday, vacation, disability dental and vision plans) as are
listed on Schedule 2.15(b) (the “Welfare Plans”). 
 (c) The Business Employees receive benefits or are eligible
under only the compensation programs and/or employment arrangements, (including but not limited to, any written or unwritten incentive compensation, fringe benefit, payroll or employment practice, bonus, option, employee stock ownership, stock
purchase, severance, sick pay, salary continuation, deferred compensation, supplemental executive compensation plans, employment agreements and consulting agreements for the benefit of their officers, directors, employees, former employees, or
independent contractors) as are listed on Schedule 2.15(c) (the “Compensation Programs”). 
 (d) To the extent
applicable, each Pension Plan, Welfare Plan and Compensation Program has been operated and administered in material compliance with 

  

 16 

 
ERISA, the Code and all other statutes, rules and regulations, agreements and instruments by which it is governed. Seller has not received any notice from
any Regulatory Authority questioning or challenging such compliance. Each Pension Plan which is intended to be qualified under Section 401(a) of the Code has been determined by the IRS to be so qualified or a request for such determination has
been timely filed with the IRS (and Seller does not have Knowledge that any event has occurred between the date of the last such determination and the Closing Date that would cause the Internal Revenue Service to revoke such determination).

 (e) All amounts required to be paid by Seller with respect to any Business Employee under each Pension Plan, Welfare Plan and Compensation
Program on or before the Closing Date have been paid or will be paid prior to the Closing Date. All liabilities arising out of or related to the Pension Plans, Welfare Plans, or Compensation Programs of Seller are reflected on the Business Financial
Statements in accordance with generally accepted accounting principles. 
 (f) Except as set forth on Schedule 2.15(f), neither the
execution and delivery of this Agreement nor the consummation of any of the transactions contemplated hereby will (i) result in any payment (including, without limitation, severance, unemployment compensation, golden parachute or otherwise)
becoming due to any Business Employee, (ii) increase any benefits otherwise payable under any Pension Plan, Welfare Plan or Compensation Program to any such Business Employee, or (iii) result in any acceleration of the time of payment or
vesting of any such benefits. 
 (g) Seller nor any of its ERISA Affiliates has at any time sponsored, contributed to, or been obligated
under Title I or Title IV of ERISA to contribute to a “defined benefit plan” (as defined in ERISA 3(35)). None of Seller nor its ERISA Affiliates have ever had an “obligation to contribute” (as defined in ERISA Section 4212)
to a “multiemployer plan” (as defined in ERISA Sections 4001(a)(3) and 3(37)(A). Seller has no liability under Title IV of ERISA either directly or through their ERISA Affiliates, including any liability that could arise as a result of any
Seller’s membership in a “controlled group” as defined in ERISA Section 4001(a)(14) and ERISA Section 4001(b)(1). 
 2.16 Insurance Policies. All of the Assets and the operations of the Business of an insurable nature and of a character usually insured by companies of similar size and in similar businesses are insured by the Seller in such amounts
and against such losses, casualties or risks as is (i) usual in such companies and for such assets, operations and businesses, (ii) to the Knowledge of Seller, required by any Law applicable to the Seller, or (iii) required by any
contract or agreement entered into by any Seller. All such policies relating to the Business are identified in Schedule 2.16 and correct and complete copies of certificates of insurance for all such policies have been delivered to Buyer by
the Seller on or before the date of this Agreement. Schedule 2.16 lists and Seller has furnished to Buyer complete copies of all insurance policies relating to the Business. All such policies are in full force and effect and enforceable in
accordance with their terms. Seller is not currently in default regarding the provisions of any such policy, including, without limitation, failure to make timely payment of all premiums due thereon, and has not failed to file any notice 

  

 17 

 
or present any claim thereunder in due and timely fashion. Seller has not been refused, or denied renewal of, any insurance coverage by insurance companies
offering such insurance in connection with the ownership or use of the Assets or the operation of the Business. Seller has provided to Buyer correct and complete copies of all insurance audit reports, loss prevention reports, all claims made and
loss history reports in respect of any insurance maintained by Seller or any predecessor of Seller, including under any organized plan of self insurance, relating to the Business during the past five (5) years. All professional and general
liability insurance covering the Business is and has been “claims made” insurance. 
 2.17 Environmental Matters.

 (a) Except as set forth on Schedule 2.17(a), to Seller’s Knowledge Seller’s operation of the Business and its Facilities
is, and has at all times been, in compliance with all Environmental Laws. Except as disclosed on Schedule 2.17(a), there is no Litigation pending or, to Seller’s Knowledge, threatened before any Regulatory Authority or other forum in
which Seller or any of its Facilities has been, or with respect to pending Litigation, may be named as a defendant (i) for alleged noncompliance (including by any predecessor) or with Liability under any Environmental Law or (ii) relating
to the release, discharge, spillage, or disposal into the environment of any Hazardous Material, whether or not occurring at, on, under, adjacent to, or affecting (or potentially affecting) a site currently or formerly owned, leased, or operated by
Seller or any of its Facilities, nor, to the Knowledge of Seller, is there any reasonable basis for any Litigation of a type described in this sentence. 
 (b) Except as disclosed on Schedule 2.17(b), during the period of (i) Seller’s ownership or operation of any of its current properties, or (ii) Seller’s participation in the management of
any Facility, there have been no releases, discharges, spillages, or disposals of Hazardous Material in, on, under, adjacent to, or affecting (or potentially affecting) such properties. 
 (c) Schedule 2.17(c) contains a true, complete and accurate listing and description of each facility or location at which Seller has been named as
or alleged to be a responsible party or potentially responsible party under any Environmental Law in connection with the release, disposal, transportation or arrangement for the release, disposal or transportation of Hazardous Materials. 

(d) Seller has obtained all permits, licenses, approvals, Consents, Orders, and authorizations which are required under any Environmental Law in
connection with the ownership, use, or lease of the Assets (“Environmental Permits”). Schedule 2.17(d) contains a true, complete and accurate listing and description of, and Seller has delivered, or caused to be delivered or
made available, to Buyer true and complete copies of each Environmental Permit. Except as described on Schedule 2.17(d), Seller is in compliance with each such Environmental Permit, and no Environmental Permit restricts Seller from operating
any equipment covered by such Environmental Permit as currently conducted. 
  

 18 

 (e) Seller has delivered, or caused to be delivered or made available, to Buyer true and complete copies
of each contract or agreement under which the Seller retained Liability for environmental matters, agreed to indemnify third parties with respect to environmental matters, or is indemnified by a third party with respect to environmental matters.

 2.18 Taxes. 
 (a)
Seller has timely filed with the appropriate Taxing authorities all Tax Returns in all jurisdictions in which Tax Returns are required to be filed, and such Tax Returns are correct and complete in all respects. Seller is not the beneficiary of any
extension of time within which to file any Tax Return. All Taxes of Seller (whether or not shown on any Tax Return) have been fully and timely paid. There are no Liens for any Taxes (other than a Lien for current real property or ad valorem Taxes
not yet due and payable) on any of the Assets of Seller. No claim has ever been made by an authority in a jurisdiction where Seller does not file a Tax Return that such entity may be subject to Taxes by that jurisdiction. 
 (b) Seller has not received any notice of assessment or proposed assessment in connection with any Taxes, and there are no pending or, to Seller’s
Knowledge, threatened disputes, claims, audits or examinations regarding any Taxes of Seller or the assets of Seller. No officer or employee responsible for tax matter of Seller expects any Taxing authority to assess any additional Taxes for any
period for which Tax Returns have been filed. Seller has not waived any statute of limitations in respect of any Taxes or agreed to a Tax assessment or deficiency. 
 (c) Seller has complied with all applicable Laws, rules and regulations relating to the withholding of Taxes and the payment thereof to appropriate authorities, including Taxes required to have been withheld and paid
in connection with amounts paid or owing to any employee or independent contractor, and Taxes required to be withheld and paid pursuant to Sections 1441 and 1442 of the Internal Revenue Code or similar provisions under foreign Law. 
 (d) The unpaid Taxes of Seller (i) did not, as of the most recent fiscal month end, exceed the reserve for Tax Liability (rather than any reserve
for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the face of the most recent balance sheet (rather than in any notes thereto) for Seller and (ii) do not exceed that reserve as adjusted for
the passage of time through the Closing Date in accordance with past custom and practice of Seller in filing its Tax Returns. 
 (e) Seller
is not a party to any Tax allocation or sharing agreement and Seller has not been a member of an affiliated group filing a consolidated federal income Tax Return (other than a group the common parent of which is Parent) or has any Tax Liability of
any Person under Treasury Regulation Section 1.1502-6 or any similar provision of state, local or foreign Law (other than the other members of the consolidated group of which Parent is parent), or as a transferee or successor, by contract or
otherwise. 
  

 19 

 2.19 Licenses, Authorizations and Provider Programs. 
 (a) Set forth on Schedule 2.19(a)(i) is a correct and complete list of all (i) licenses, accreditations, permits and other rights held by
Seller and (ii) provider agreements under all Government Programs and Private Programs related to the Business, complete and correct copies of which have been provided to Buyer. True, complete and correct copies of all surveys of Seller or its
predecessors in interest related to the Business and conducted in connection with any Government Program, Private Program or licensing or accreditor body during the past three (3) years have been provided to Buyer. Except as set forth on
Schedule 2.19(a)(ii), Seller holds all valid licenses, accreditations, permits, certificates, consents, exceptions, authorizations and other rights required by Law, ordinance, regulation or ruling of any Regulatory Authority necessary to
operate the Business. Except as disclosed on Schedule 2.19(a)(iii), Seller is certified for participation and reimbursement under Titles XVIII and XIX of the Social Security Act (the “Medicare and Medicaid programs”)
(Medicare and Medicaid programs and such other similar federal, state or local reimbursement or governmental programs for which Seller is eligible are hereinafter referred to collectively as the “Government Programs”) and has
current provider agreements for such Government Programs and with such private non-governmental programs, including without limitation, any private insurance program under which they directly or indirectly are presently receiving payments (such
non-governmental programs herein referred to as “Private Programs”). 
 (b) Except as disclosed on Schedule 2.19(b),
to Seller’s Knowledge no violation, default, order or deficiency exists with respect to any of the items listed on Schedule 2.19(a)(i). Seller has not received any notice of any action, investigation, inquiry or informational request
pending or recommended by any Regulatory Authority having jurisdiction over the items listed on Schedule 2.19(a)(i), either to revoke, withdraw, limit or suspend any license, right or authorization or to suspend, terminate the participation
of Seller in any Government Program or Private Program. No event has occurred which, with the giving of notice, the passage of time, or both, would constitute grounds for a violation, order or deficiency with respect to any of the items listed on
Schedule 2.19(a)(i) or to revoke, withdraw, or suspend any such license, or to terminate or modify the participation of Seller in any Government Program or Private Program. Except as set forth on Schedule 2.19(b), since January 1,
2006, there has been no decision not to renew any provider or third-party payor agreement of Seller. Except as listed on Schedule 2.19(b), no Consent or approval of, prior filing with or notice to, or any action by, any governmental body or
agency or any other third party is required in connection with the transfer or change of ownership of such license, accreditation, permit, certificate or Government Program or Private Program, by reason of the assignment thereof to Buyer at the
Closing, and the continued operation of the Business by Buyer thereafter on a basis consistent with past practices. No Business Employee or agent or contractor engaged by Seller in connection with the Business has been excluded from, suspended from
or prohibited from providing services under any federal or state program, including but not limited to any federal or state health care program such as Medicare and Medicaid. 
 (c) With respect to the Business, Seller has timely filed all reports and billings required to be filed by it prior to the date hereof with respect to
the Government 

  

 20 

 
Programs and Private Programs, all fiscal intermediaries and other insurance carriers and all such reports and billings are complete and accurate in all
material respects and, to Seller’s Knowledge, have been prepared in compliance with all applicable Laws, regulations, policies, terms and conditions and principles governing reimbursement and payment of claims. True and complete copies of such
reports and billings for the most recent year have heretofore been made available to Buyer. Set forth on Schedule 2.19(c)(i) is a true and complete list of any refunds, overpayments , discounts or adjustments in excess of $5,000 paid to any
single Government Program or Private Program by the Business since January 1, 2006. Seller has paid or caused to be paid all known and undisputed refunds, overpayments, discounts or adjustments which have become due pursuant to such reports and
billings and has no Liability under any Government Program or Private Program (known or unknown, contingent or otherwise) for any refund, overpayment, discount or adjustment. Except as set forth on Schedule 2.19(c)(ii), (i) there are no
pending appeals, adjustments, challenges, audits, claims, litigation, or notices of intent to audit such prior reports or billings, and (ii) during the last two (2) years Seller has not been audited or otherwise examined by any Government
Program or Private Program. There are no other reports required to be filed by Seller in order to be paid under any Government Program or Private Program for services rendered in connection with the Business, except for cost reports not yet due.

 (d) Seller is not subject to any corporate integrity agreements or any other agreements, corporate integrity programs, regulatory guidance
or compliance plans with any Regulatory Authority. Seller has provided Buyer with true, correct and complete copies of any corporate integrity agreements and any other agreement, corporate integrity program or compliance plan that is applicable to
Seller or any Affiliate of Seller. 
 2.20 Inspections and Investigations. Except as set forth and described on Schedule 2.20,
(i) neither Seller’s right nor the right of any licensed professional or other individual affiliated with the Business to receive reimbursements pursuant to any Government Program or Private Program has been terminated or otherwise
adversely affected as a result of any investigation or action whether by any Regulatory Authority or other third party, (ii) neither Seller, nor any licensed professional or other individual who provides services in connection with the
operation of the Business on behalf of Seller has, during the past three (3) years, has been the subject of any inspection, investigation, survey, audit, monitoring or other form of review by any Regulatory Authority, trade association,
professional review organization, accrediting organization or certifying agency based upon any alleged improper activity on the part of such individual, nor has Seller received any notice of deficiency during the past three (3) years in
connection with the operations of the Business, (iii) there are not presently, and at the Closing Date there will not be, any outstanding deficiencies or work orders of any Regulatory Authority having jurisdiction over the Business or the
Assets, or requiring conformity to any applicable agreement, statute, regulation, ordinance or bylaw, including but not limited to, the Government Programs and Private Programs, and (iv) there is not any notice of any claim, requirement or
demand of any licensing or certifying agency or other third party supervising or having authority over the Business or the Assets to rework or redesign any part thereof or to provide additional furniture, fixtures, equipment, appliances or inventory
for the Business so as to conform to or comply with any existing Law, code, rule, 

  

 21 

 
regulation or standard. Attached to Schedule 2.20 are copies of all reports, correspondence, notices and other documents relating to any matter
described or referenced therein. 
 2.21 Certain Relationships. Except as set forth on Schedule 2.21, neither Seller nor any of
its respective Affiliates, Business Employees, independent contractors, agents, representatives or predecessors has with respect to the Business: 
 (a) offered, paid, solicited or received anything of value, paid directly or indirectly, overtly or covertly, in cash or in kind (“Remuneration”) to or from any physician, family member of a physician, or an entity in which
a physician or physician family member has an ownership or investment interest, including, but not limited to: 
 (i) payments for personal
or management services pursuant to a medical director agreement, consulting agreement, management contract, personal services agreement, or otherwise; 
 (ii) payments for the use of premises leased to or from a physician, a family member of a physician or an entity in which a physician or family member has an ownership or investment interest; or 
 (iii) payments for the acquisition or lease of equipment, goods or supplies from a physician, a family member of a physician or an entity in which a
physician or family member has an ownership or investment interest; 
 (b) offered, paid, solicited or received any Remuneration (excluding
fair market value payments for services, equipment or supplies) to or from any healthcare provider, pharmacy, drug or equipment supplier, distributor or manufacturer, including, but not limited to: 
 (i) payments or exchanges of anything of value under a warranty provided by a manufacturer or supplier of an item to a Seller; or 
 (ii) discounts, rebates, or other reductions in price on a good or service received by Seller; 
 (c) offered, paid, solicited or received any Remuneration to or from any person or entity in order to induce business, including, but not limited to,
payments intended not only to induce referrals of patients, but also to induce the purchasing, leasing, ordering or arrangement for any good, facility, service or item; 
 (d) entered into any joint venture, partnership, co-ownership or other arrangement involving any ownership or investment interest by any physician, or family member of a physician, or an entity in which physician or
physician family member has an ownership or investment interest, directly or indirectly, through equity, debt, or other means, including, but not limited to, an interest in an entity providing goods or services to Seller; 
  

 22 

 (e) entered into any joint venture, partnership, co-ownership or other arrangement involving any
ownership or investment interest by any person or entity that is or was in a position to make or influence referrals, furnish items or services to, or otherwise generate business for Seller; or 
 (f) entered into any agreement providing for the referral of any patient for the provision of goods or services by Seller, or payments by Seller as a
result of any referrals of patients to Seller. 
 2.22 Stark; Fraud and Abuse; Civil Monetary Penalties; False Claims; HIPAA; FFDCA.
Neither Seller nor any of Seller’s predecessors nor any persons and entities providing professional services on behalf of and in connection with the Business have engaged in any activities which are prohibited under 42 C.F.R. § 1320a-7a,
42 U.S.C. § 1320a-7b, 42 U.S.C. § 1395nn or 31 U.S.C. § 3729-3733 (or other federal or state statutes related to false or fraudulent claims) or the regulations promulgated thereunder pursuant to such statutes, or
related or similar state or local statutes or regulations, or which are prohibited by rules of professional conduct, including but not limited to the following: (a) knowingly and willfully making or causing to be made a false statement or
representation of a fact in any application for any benefit or payment; (b) knowingly and willfully making or causing to be made any false statement or representation of a fact for use in determining rights to any benefit or payment;
(c) failing to disclose knowledge by a claimant of the occurrence of any event affecting the initial or continued right to any benefit or payment on its own behalf or on behalf of another, with intent to fraudulently secure such benefit or
payment; and (d) knowingly and willfully soliciting or receiving any remuneration (including any kickback, bribe or rebate), directly or indirectly, overtly or covertly, in cash or in kind or offering to pay or receive such remuneration
(i) in return for referring an individual to a person for the furnishing or arranging for the furnishing of any item or service for which payment may be made in whole or in part by Medicare or Medicaid, or (ii) in return for purchasing,
leasing, or ordering or arranging for or recommending purchasing, leasing, or ordering any good, facility, service or item for which payment may be made in whole or in part by a federal health care program such as Medicare or Medicaid. Seller has
not engaged in activities that are prohibited under HIPAA. Seller is in compliance with HIPAA and other applicable federal and state privacy Laws. 
 2.23 Rates and Reimbursement Policies. Except as set forth on Schedule 2.23(i), Seller does not have a rate appeal currently pending before any Regulatory Authority or any administrator of any Private
Programs. Except as set forth on Schedule 2.23(ii), Seller has no Knowledge of any applicable Law, which has been enacted, promulgated or issued within the eighteen (18) months preceding the date of this Agreement of any such legal
requirement proposed or currently pending in the jurisdictions in which the Seller does business, which would have a Seller Material Adverse Effect or may result in the imposition of additional Medicaid, Medicare, charity, free care, welfare, or
other discounted or government assisted patients or require the Seller to obtain any necessary authorization which it does not currently possess. 
  

 23 

 2.24 Patients and Orders. Schedule 2.24 sets forth a true and complete list of all current
patients of the Business. 
 2.25 Accounts Receivable; Inventories. 
 (a) Except as set forth on Schedule 2.25(a), the accounts receivable reflected in the Business Financial Statements, and all accounts receivable
related to the Business arising since January 1, 2006, arose from bona fide transactions in the ordinary course of business. Except as set forth on Schedule 2.25(a), the accounts receivable reflected in the Business Financial Statements
have been properly recorded and reserved against consistent with past practice. No such account receivable has been assigned or pledged to any other person, firm or corporation other than to Fifth Third Bank or is subject to any right of set off
other than to Fifth Third Bank. Reasonable provision has been made in the Business Financial Statements for collection losses, contractual discounts and other adjustments from third party payers. 
 (b) All items of Inventory of the Seller will, at the Closing, consist of items of a quality and quantity usable and saleable in the ordinary course of
business and conform to generally accepted standards in the industry in which the Business is a part. Except as set forth on Schedule 2.25(b), since January 1, 2006, no Inventory has been sold or disposed of, except through sales in the
ordinary course of business, and in no event at prices less than the book value of such Inventory as of January 1, 2006 
 2.26
Business Relationships. 
 (a) Except as disclosed on Schedule 2.26(a), the relationships between the Seller and all customers,
clients, third party payors, patients, Employees and vendors who receive goods and services from or provide goods and services to Seller are satisfactory, and Seller has no Knowledge of (i) any facts or circumstances which might materially
alter, negate, impair or in any way adversely affect the continuity of any such relationships or (ii) any complaints, claims, threats of which Seller has received express notice, plans or intentions to discontinue or curtail relations under any
such relationships. Seller is not under any obligation with respect to the return of goods in the possession of customers or patients related to the Business. 
 (b) Except as disclosed on Schedule 2.26(b), Seller has no Knowledge of any present or future condition or state of facts or circumstances which would prevent the Business from being carried on by Buyer after
the Closing Date in the same manner as it is presently being carried on. 
 2.27 Absence of Certain Business Practices. Neither Seller
nor any officers, director, employee or agent of Seller, nor any other person or entity acting on behalf of Seller, acting alone or together, has (i) received, directly or indirectly, any rebates, payments, commissions, promotional allowances
or any other economic benefits, regardless of their nature or type, from any customer, governmental employee or other person or entity with whom Seller has done business directly or indirectly, or (ii) directly or indirectly, given or agreed to
give any gift or similar benefit to any customer, 

  

 24 

 
governmental employee or other person or entity who is or may be in a position to help or hinder the Business (or assist Seller in connection with any actual
or proposed transaction) which, in the case of either clause (i) or clause (ii) above, would reasonably be expected to subject Seller to any damage or penalty in any civil, criminal or governmental Litigation. Neither Seller nor any
officer, director, employee or agent of Seller has used any funds for unlawful contributions, gifts, entertainment or other expenses relating to political activity or otherwise, or has made any direct or indirect unlawful payment to governmental
officials or employees from Seller’s funds or been reimbursed from Seller’s funds for any such payment, or is aware that any other person associated with or acting on behalf of Seller has engaged in any such activities. 
 2.28 Statement True and Correct. No representation or warranty made herein by Seller, nor in any statement, certificate or instrument to be
furnished to Buyer by Seller pursuant to any Acquisition Document, contains or will contain any untrue statement of material fact or omits or omit to state a material fact necessary to make these statements contained herein and therein not
misleading. 
 ARTICLE 3 
 REPRESENTATIONS AND WARRANTIES OF BUYER 
 Buyer hereby represents and warrants to Seller as follows: 
 3.1 Organization, Authority and Capacity. Buyer is a corporation, duly organized, validly existing and in good standing under the laws of the State
of Georgia. Buyer has the full power and authority necessary to (i) execute, deliver and perform its obligations under the Acquisition Documents to be executed and delivered by it, and (ii) carry on its business as it has been and is now
being conducted and to own and lease the properties and assets which it now owns or leases. Buyer is duly qualified to do business and is in good standing in each jurisdiction in which a failure to be so qualified or in good standing would have a
material adverse effect on Buyer. 
 3.2 Authorization and Validity. The execution, delivery and performance of the Acquisition
Documents to be executed and delivered by Buyer have been duly authorized by all necessary action by Buyer. The Acquisition Documents to be executed and delivered by Buyer have been or will be, as the case may be, duly executed and delivered by
Buyer and constitute or will constitute the legal, valid and binding obligations of Buyer, enforceable in accordance with their respective terms, except as may be limited by bankruptcy, insolvency, or other laws affecting creditors’ rights
generally, or as may be modified by a court of equity. 
 3.3 Absence of Conflicting Agreements or Required Consents. The execution,
delivery and performance by Buyer of the Acquisition Documents to be executed and delivered by it: (i) do not require the Consent of or notice to any Regulatory Authority; (ii) will not conflict with any provision of Buyer’s charter
or bylaws; (iii) will not conflict with or result in a violation of any Law, ordinance, regulation, ruling, judgment, order or injunction of any court or Regulatory Authority to which Buyer is subject or by which Buyer or any of its assets or
properties is bound; and (iv) will not 

  

 25 

 
conflict with, constitute grounds for termination of, result in a breach of, constitute a default under, require any notice under, or accelerate or permit
the acceleration of any performance required by the terms of any agreement, instrument, license or permit to which Buyer is a party or by which any of Buyer’s properties are bound. 
 3.4 Statements True and Correct. No representation or warranty made herein by Buyer, nor in any statement, certificate or instrument to be
furnished to the Seller by Buyer pursuant to any Acquisition Document contains or will contain any untrue statement of material fact or omits or will omit to state a material fact necessary to make these statements contained therein not misleading.

 ARTICLE 4 
 ADDITIONAL AGREEMENTS 
 4.1 Consent of Regulatory Authorities. 
 (a) The Parties hereto shall cooperate with each other and use their reasonable efforts to promptly prepare and file all necessary documentation, to
effect all applications, notices, petitions and filings and to obtain as promptly as practicable all Consents of all Regulatory Authorities and other Persons which are necessary or advisable to consummate the Acquisition and the other transactions
contemplated by this Agreement. The Parties agree that they shall consult with each other with respect to the obtaining of all Consents of all Regulatory Authorities and other Persons necessary or advisable to consummate the transactions
contemplated by this Agreement and each Party shall keep the other apprised of the status of matters relating to consummation of the transactions contemplated herein. Each Party also shall promptly advise the other upon receiving any communication
from any Regulatory Authority or other Person whose Consent is required for consummation of the transactions contemplated by this Agreement which causes such Party to believe that there is a reasonable likelihood that any requisite Consent shall not
be obtained or that the receipt of any such Consent will be materially delayed. 
 (b) The Seller and Buyer will coordinate causing the
Seller’s licenses, permits, supply agreements, agreements with customers and other material contracts related to the Business to be transferred to Buyer and where appropriate Buyer shall apply, at Buyer’s expense, for any change of
ownership required for government licenses or permits or for new licenses or permits to enable Buyer to operate the Business from and after the Closing Date. In the event that any license or contract cannot be transferred and such failure is
material to Buyer, the Seller will reasonably cooperate in making alternate arrangements acceptable to Buyer in order to facilitate Buyer’s ability to conduct the Business in the same manner as conducted by the Seller prior to the Closing.

  

 26 

 4.2 Agreement as to Efforts to Consummate. Subject to the terms and conditions of this Agreement,
each Party agrees to use, and to cause its Subsidiaries to use, its reasonable efforts to take, or cause to be taken, all actions, and to do, or cause to be done, all things necessary, proper, or advisable under applicable Laws to consummate and
make effective, as soon as reasonably practicable after the date of this Agreement, the transactions contemplated by this Agreement, including using its reasonable efforts to lift or rescind any Order adversely affecting its ability to consummate
the transactions contemplated herein and to cause to be satisfied the conditions referred to in Article 6; provided, that nothing herein shall preclude either Party from exercising its rights under this Agreement. Buyer and Seller agree, on or prior
to the Closing Date, to execute those documents listed in Article 6 hereof to which they are a party and to cause their Affiliates to execute any such documents to which they are to become a party. 
 4.3 Confidentiality Agreements. 
 (a)
The Parties acknowledge and affirm the Confidentiality Agreement between them and their Affiliates, dated February 9, 2006 (the “Confidentiality Agreement”). 
 (b) The Parties shall take all reasonable commercial actions to maintain the confidentiality of the confidential information and trade secrets relating
to the Business and to enforce the provisions of its confidentiality agreements with other Persons, including such reasonable commercial actions as requested by Buyer or Seller, as the case may be. 
 4.4 Bulk Transfer Act. The Parties hereby waive compliance with the state “Bulk Transfer Act,” to the extent applicable to the
transactions contemplated hereby. Seller shall indemnify Buyer with respect to such waiver as a Retained Liability as provided in Section 8.1. 
 4.5 Retained Liabilities. Seller covenants and agrees to pay or otherwise satisfy all Retained Liabilities, as and when due. Seller further covenants and agrees that it will not take or fail to take any action which is likely to
affect Buyer’s relationship with any suppliers or representatives related to the Business between the date hereof and the Closing Date. 
 4.6 Risk of Loss. Seller shall maintain all risk of condemnation, destruction, loss or damage due to fire or other casualty from the date of this Agreement until the Closing. If the condemnation, destruction, loss or damage is such
that the operation of the Business is materially interrupted or curtailed and has a Seller Material Adverse Effect, then Buyer shall have the right to terminate this Agreement. If Buyer nonetheless elects to close, Seller shall remit all net
condemnation proceeds or third party insurance proceeds to Buyer and the Aggregate Consideration shall be adjusted at Closing to reflect such condemnation, destruction, loss or damage to the extent that insurance or condemnation proceeds are not
sufficient to cover such destruction, loss or damage. 
  

 27 

 4.7 Certain Tax Matters. Buyer, on the one hand, and Seller, on the other hand, shall provide each
other with any such assistance as may reasonably be requested by any of them in connection with (i) the preparation or filing of any Tax Return, (ii) any audit or other examination by any Regulatory Authority, or (iii) any judicial or
administrative proceedings relating to Liability for Taxes, and each party will retain for the applicable statute of limitations or the required period of time under state or local law for the retention of documents related to Taxes, whichever is
greater, and to provide the requesting party, any records or information that may be relevant to any of the foregoing. 
 4.8 Title
Search; Discharge of Liens. As soon as practicable after the date hereof, but in no event later than the Closing, Seller shall (i) use commercially reasonable efforts to ascertain all Liens, if any, to which any of the Assets is subject,
whether in the name of Seller, or any predecessor or Affiliate of Seller (which may include reviewing Lien searches obtained by Buyer and provided to the Seller), (ii) notify Buyer in writing of the nature and extent thereof, and
(iii) discharge all such Liens; provided, further, Seller expressly acknowledges and agrees that it shall: (a) cause Fifth Third Bank to release any and all Liens relating to the Assets; provided, however, Buyer agrees that Fifth Third
Bank may retain or otherwise possess a Lien with respect to the Seller Receivables, including the Pledged Receivables; (b) to the extent that MSAC has any Lien with respect to the Assets, cause MSAC Limited to release any and all Liens relating
to the Assets; provided, however, Buyer agrees that MSAC Limited may retain or otherwise possess a Lien with respect to those certain Retained Assets specifically set forth on Schedule 1.3 (a); and, (c) cause CapitalSource Finance LLC to
release any and all Liens relating to the Assets. 
 4.9 Transfer Taxes. All Transfer Taxes shall be borne by Seller. Buyer and the
Seller shall cooperate with one another in promptly making any filings in connection with any such taxes. Buyer or the Seller, as the case may be, shall execute and deliver to each other, at Closing any certificates or other documents as the other
may reasonably request to perfect any exemption from any such Transfer Taxes. 
 4.10 Escrow Agreements. The Parties shall enter into
the Primary Escrow Agreement substantially in the form of Exhibit 4.10(a) and the Gunter Escrow Agreement substantially in the form of Exhibit 4.10(b). 
 4.11 Tail Insurance. Seller shall obtain and provide evidence satisfactory to Buyer of customary extended reporting endorsements, or “tail coverage,” on any “claims made” insurance covering
professional and general liability of the Business, with such tail coverage insuring all claims arising out of events occurring prior to the Closing Date and having the same coverage limits and deductibles as in effect prior to the date hereof.

 4.12 Shareholders’ Meeting. Seller, acting through the Seller’s Board of Directors, shall, using its best efforts and in
accordance with applicable law promptly following the date hereof (a) duly set a record date for, call and give notice of a special meeting of its shareholders (the “Special Meeting”) for the purpose of considering and taking
action upon this Agreement, and (b) convene and hold the Special Meeting and take all other action reasonably necessary or advisable to secure the approval of shareholders required by law to affect the Agreement and the transactions
contemplated hereby. The 

  

 28 

 
parties agree that this Agreement shall be and become null and void in the event that the shareholders of Seller do not provide the requisite approval
described and referenced herein. 
 4.13 No Shop. From the date of this Agreement until the Closing, (a) Neither Seller, nor its
Subsidiaries, officers, directors, or the directors and officers of their Subsidiaries, nor any of their respective Affiliates shall, and each of them shall cause each of their respective employees, agents and representatives (including, without
limitation, any investment banking, legal or accounting firm retained by Seller and any individual member or employee of Seller) not to, directly or indirectly (i) initiate, solicit or seek, any inquiries or the making or implementation of any
proposal or offer with respect to any purchase of all or a substantial portion of the Assets or the outstanding capital stock of Seller (any such proposal or offer being hereinafter referred to as an “Acquisition Proposal”), or
(ii) engage in any negotiations concerning, or provide any confidential information or data to, or have any discussions with, any person relating to an Acquisition Proposal, or (iii) otherwise cooperate in any effort or attempt to make,
implement or accept an Acquisition Proposal; (b) Seller will cease any current discussions regarding any Acquisition Proposal or similar transaction. 
 4.14 Continuation of Business. Following the Closing and at Buyer’s expense, Buyer will continue to provide services similar to those being provided by Seller; provided, however, that Buyer may discontinue
such services, in its sole discretion, based upon the availability of qualified nurses, community need or the economic and financial viability of such services. 
 4.15 Seller’s Name and Logo. As promptly as feasible after the Closing, Seller shall cease doing business, save and except, any activity relating to the winding down of its affairs and the collection of
the Seller Receivables. Within one (1) year after the Closing Date, Seller shall change its name to a name that does not include the words “Melmedica Children’s Healthcare, Inc.” and thereafter shall discontinue the use of the
name “Melmedica Children’s Healthcare, Inc.,” any derivative of or variation thereof or any logo or design related thereto, and such other names, logos and designs used in any of Seller’s present or future business operations, as
part of any corporate or other business name or in any other manner. Seller acknowledges that the name “Melmedica Children’s Healthcare, Inc.” is among the Assets acquired by Buyer pursuant to this Agreement and Buyer shall have the
exclusive right to use the name “Melmedica Children’s Healthcare, Inc.” 
 4.16 Disclosure Schedules. The parties agree
to work in good faith to revise, update and supplement the disclosure schedules to this Agreement from the date hereof to the Closing Date. Before any such supplement shall be effective, Buyer must first consent to the Seller’s proposed
revisions or supplement to such schedule(s), which consent shall not be unreasonably withheld. 
  

 29 

 ARTICLE 5 
 CONDUCT OF BUSINESS 
 5.1 Access to Information. At all times prior to the Closing,
Seller will afford the officers and authorized representatives of Buyer access upon reasonable notice to all of the properties, books and records that relate to or concern the Business and Seller will furnish such parties with such additional
financial, operating and other information as to the business and properties of Seller as such parties may from time to time reasonably request. Buyer shall also be allowed access, upon reasonable notice, to consult with the officers, employees,
accountants, counsel and agents of Seller in connection with such investigation. No such investigation shall diminish or otherwise affect any of the representations, warranties, covenants or agreements of any party under this Agreement. At all times
following the Closing, (i) Seller will afford the officers and authorized representatives of Buyer access upon reasonable notice to all of the books and records that are retained as part of the Retained Assets (including, without limitation,
all patient medical records and employee records, regardless of whether Buyer has previously made partial or complete copies of such records) as such parties may from time to time reasonably request and (ii) Buyer will afford the officers and
authorized representatives of Seller access, after reasonable notice, to the books and records of the Business as Seller may from time to time reasonably request, but solely as necessary to complete tax returns or handle tax disputes, to administer
the Retained Assets and Retained Liabilities and to perform the Seller’s indemnification obligations under Article 8 hereof. Prior to the Closing Date, each Party shall keep the other Party advised of all material developments relevant to its
business and to consummation of the Acquisition. 
 5.2 Affirmative Covenants of Seller. 
 (a) From the date hereof until the earlier of the Closing Date or the termination of this Agreement, unless the prior written consent of Buyer shall have
been obtained, such consent not to be unreasonably withheld or denied, and except as otherwise expressly contemplated herein, Seller shall to the extent any of the following relates to or in any way may effect the Acquisition or the Assets:

 (i) operate the Business only in the usual, regular and ordinary course of business, consistent with past practices; 
 (ii) use reasonable commercial efforts to preserve intact their business organization, licenses, permits, government programs, private programs and
customers; 
 (iii) use reasonable commercial efforts to retain the services of their employees, agents and consultants on terms and
conditions not less favorable than those existing prior to the date hereof and to ensure that there are no material or adverse changes to employee relations; 
 (iv) keep and maintain their assets in their present condition, repair and working order, except for normal depreciation and wear and tear, and maintain its insurance, rights and licenses; 
  

 30 

 (v) pay all accounts payable of Seller in accordance with past practice and collect all accounts
receivable in accordance with past practice, but not less than in accordance with prudent business practices; 
 (vi) confer on a regular
and frequent basis with one or more designated representatives of Buyer to report material operational matters and to report the general status of ongoing Business operations; 
 (vii) make available to Buyer true and correct copies of all internal management and control reports (including aging of accounts receivable, listings
of accounts payable, and inventory control reports) and available financial statements of Seller; 
 (viii) cause all Tax Returns relating
the Business or the Assets that are due and have not been filed prior to the date hereof or which become due prior to the Closing Date (taking into account valid extensions), to be prepared and filed on or before the date such Tax Return is required
to be filed; provided, however, that any such Tax Return shall be prepared in accordance with past practice and custom unless Seller reasonably determines that changes are required by changes in facts or applicable Law; 
 (ix) perform in all material respects all obligations under agreements relating to or affecting its assets, properties or rights, except for the failure
of which performance would not have a material adverse effect on the Business taken as a whole, financial or otherwise; 
 (x) keep in full
force and effect present insurance policies or other comparable insurance coverage; and 
 (xi) notify Buyer of (i) any event or
circumstance which is reasonably likely to have a Seller Material Adverse Effect or would cause or constitute a breach of any representations, warranties or covenants of Seller contained herein; (ii) any change in the normal course of business
or in the operation of the assets of the Business, or (iii) of any governmental complaints, investigations or hearings (or communications indicating that the same may be contemplated), any adjudicatory proceedings, any budget meetings or any
submissions involving the Assets. Seller shall keep Buyer fully informed of such events and permit Buyer’s representatives prompt and reasonable access to all materials prepared in connection therewith. 
 (xii) Cooperate with Fifth Third Bank as set forth in Section 2.11(d). 
 (b) Seller shall provide Buyer such information and supporting documentation as reasonably requested by Buyer to support the representations and
warranties made by Seller pursuant to Sections 2.6(a) and 2.6(b) hereof. 
  

 31 

 5.3 Negative Covenants of Seller. 
 (a) From the date hereof until the earlier of the Closing Date or the termination of this Agreement, Seller will not, other than as contemplated hereby or
as disclosed on Schedule 5.3(a), do any of the following without the prior written consent of Buyer to the extent any of the following relates to or in any way may affect the Acquisition, the Business or the Assets: 
 (i) take any action which would (a) adversely affect the ability of any party to the Acquisition Documents to obtain any Consents required for the
transactions contemplated thereby, or (b) adversely affect the ability of any party hereto to perform its covenants and agreements under the Acquisition Documents; 
 (ii) amend any of its organizational or governing documents, except for the purpose of accomplishing the transactions contemplated by this Agreement; 
 (iii) impose, or suffer the imposition, on any material asset of Seller of any Lien or permit any such Lien to exist; 
 (iv) other than pursuant to the Acquisition Documents, sell, pledge or encumber, or enter into any contract to sell, pledge or encumber, any interest in
the assets of Seller; 
 (v) purchase or acquire any assets or properties related to the Business, whether real or personal, tangible or
intangible, or sell or dispose of any assets or properties, whether real or personal, tangible or intangible, except in the ordinary course of business and consistent with past practices; 
 (vi) grant any increase in compensation or benefits to any Business Employee, except in accordance with past practice; pay any severance or termination
pay or any bonus other than pursuant to written policies or written contracts in effect as of the date hereof and disclosed on Schedule 5.3(a)(vi); enter into or amend any severance agreements with any Business Employee; 
 (vii) enter into or amend any employment contract between Seller and any Business Employee (unless such amendment is required by law) that Seller does
not have the unconditional right to terminate without Liability (other than compensation for services already rendered), at any time on or after the Closing Date; 
 (viii) except as disclosed in Schedule 5.3(a)(viii), adopt any new employee benefit plan or make any material change in or to any existing Business Employee benefit plans other than any such change that is
required by law or that, in the opinion of counsel, is necessary or advisable to maintain the tax qualified status of any such plan except as disclosed in Schedule 5.3(a)(viii); 
 (ix) commence any Litigation other than in accordance with past practice, settle any Litigation involving any Liability of Seller for material money
damages or restrictions upon the operations of the Business; 
  

 32 

 (x) except in the ordinary course of business and which is not material, modify, amend or terminate any
material contract or waive, release, compromise or assign any material rights or claims; 
 (xi) except in the ordinary course of business
and, even if in the ordinary course of business, then not in an amount to exceed $10,000 in the aggregate, make or commit to make any capital expenditure, or enter into any lease of capital equipment as lessee or lessor, related to the Business;

 (xii) make any loan to any person or increase the aggregate amount of any loan currently outstanding to any person; 
 (xiii) make any significant change in any Tax or accounting methods or systems of internal accounting controls, except as may be appropriate to conform
to changes in Tax Laws or regulatory accounting requirements or generally accepted accounting principles; 
 (xiv) except in the ordinary
course of business and which is not material, modify, amend or terminate any material contract or waive, release, compromise or assign any material rights or claims; 
 (xv) take any action, or omit to take any action, which would cause any of the representations and warranties contained in Article 2 to be untrue or incorrect; 
 (xvi) modify, amend or terminate any of the insurance policies listed on Schedule 2.16. 
 (xvii) take any action, or omit to take any action, that would adversely impact the ability of Seller to complete the Acquisition upon the terms and
conditions set. 
 ARTICLE 6 
 CONDITIONS PRECEDENT TO OBLIGATIONS TO CONSUMMATE 
 6.1 Conditions to Obligations of Each Party. 

The respective obligations of each Party to perform this Agreement and consummate the Acquisition and the other transactions contemplated hereby are
subject to the satisfaction of the following conditions, unless waived by both Parties pursuant to Section 11.3: 
 (a) Regulatory
Approvals. All material Consents, filings and registrations with, and notifications to, all Regulatory Authorities required for consummation of the Acquisition shall have been obtained or made and shall be in full force and effect. No Consent
obtained from any Regulatory Authority which is necessary to consummate the transactions contemplated hereby shall be conditioned or restricted in a manner (including requirements relating to the raising of additional capital or the disposition of
Assets) which Buyer determines would reasonably likely result in a Seller Material Adverse Effect. 
  

 33 

 (b) Consents and Approvals. Seller shall have obtained the Consents listed on Schedule
6.1(b). No Consent so obtained which is necessary to consummate the transactions contemplated hereby shall be conditioned or restricted in a manner which Buyer determines would reasonably likely have an adverse impact on the Business if the
Acquisition were consummated notwithstanding such conditions or restrictions. 
 (c) Legal Proceedings. No court or governmental or
Regulatory Authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any Law or Order (whether temporary, preliminary or permanent) or taken any other action which prohibits, restricts or makes illegal
consummation of the transactions contemplated by this Agreement and no such Law, Order or action shall be pending. 
 6.2 Conditions to
Obligations of Buyer. 
 The obligations of Buyer to perform this Agreement and consummate the Acquisition and the other transactions
contemplated hereby are subject to the satisfaction of the following conditions, unless waived by Buyer pursuant to Section 11.3: 
 (a)
Representations and Warranties. For purposes of this Section 6.2(a), the accuracy of the representations and warranties of Seller set forth in this Agreement shall be assessed as of the date of this Agreement and as of the Closing Date
with the same effect as though all such representations and warranties had been made on and as of the Closing Date (provided that representations and warranties which are confined to a specified date shall speak only as of such date). The
representations and warranties of Seller contained herein shall be true and correct in all material respects as of the Closing Date, provided that any representation or warranty that is qualified as to materiality shall be true and correct in all
respects as of the Closing Date after giving effect to such qualification as to materiality. 
 (b) Performance of Agreements and
Covenants. Each and all of the agreements and covenants of Seller to be performed and complied with pursuant to this Agreement and the other agreements contemplated hereby prior to the Closing Date shall have been duly performed and complied
with in all material respects. 
 (c) Material Adverse Effect. No Seller Material Adverse Effect shall have occurred and be
continuing. 
 (d) Certificates. Seller shall have duly executed and delivered to Buyer (i) a certificate, dated as of the
Closing Date and signed on its behalf by its chief executive officer and its chief financial officer, to the effect that the conditions set forth in Section 6.1 as relates to Seller and in Sections 6.2(a), 6.2(b) and 6.2(c) have been satisfied,
and (ii) certified copies of resolutions duly adopted by Seller’s Board of Directors evidencing the taking of all corporate action necessary to authorize the execution, delivery and performance of this Agreement, and the consummation of
the transactions contemplated hereby, all in such reasonable detail as Buyer and its counsel shall request. 
  

 34 

 (e) Delivery of Documents at Closing. Delivery of the following documents, duly executed by
authorized officers of Seller: 
 (i) Bills of sale in favor of Buyer and, at the direction of Buyer in such form as shall be mutually agreed
to by the Parties for the transfer of the Assets, and all such other endorsements, assignments and other instruments as Buyer may reasonably request and are reasonably necessary to transfer to Buyer good and marketable title to the Assets (the
“Conveyance Documents”); 
 (ii) Assignment and assumption agreements in favor of Buyer in such form as shall be mutually
agreed to by the Parties, for the Assumed Liabilities (the “Assignment and Assumption Agreements”); 
 (iii) The Primary
Escrow Agreement and the Gunter Escrow Agreement substantially in the forms attached hereto as Exhibit 4.10(a) and Exhibit 4.10(b), respectively; and 
 (f) Lien Releases. Buyer shall have received evidence, satisfactory to it, that Seller has identified the Liens on the Assets and discharged all such Liens (including, without limitation, as set forth in
Section 4.8 hereof) on or prior to the Closing Date. 
 (g) Legal Opinion. Buyer shall have received an opinion of counsel to
Seller to the effect set forth in Exhibit 6.2(g). 
 (h) Delivery of Audited Financial Statements. Seller shall have delivered
and Buyer shall have reviewed and approved, at Buyer’s sole discretion, the Business Financial Statements. 
 (i) Evidence of Tail
Insurance. Seller shall obtain and provide evidence satisfactory to Buyer of “tail coverage” insurance as set forth in Section 4.11 hereof. 
 (j) Due Diligence Review. Representatives of the Buyer shall have completed the due diligence review of the operations, condition (financial and other), prospects, assets and liabilities of, and other matters
related to, the Business to the Buyer’s satisfaction, and the findings shall, in Buyer’s sole discretion, be acceptable. The parties acknowledge and agree that completion of Buyer’s due diligence review includes review and approval of
updated disclosure schedules, as set forth in Section 4.16 hereof. 
 (k) Shareholder Approval. Seller shall have obtained
approval of its shareholders for the consummation of this Agreement and the transactions contemplated hereby in accordance with the terms of Seller’s Articles of Incorporation, bylaws and applicable law; provided, further, Buyer may not waive
the satisfaction of this condition. 
  

 35 

 6.3 Conditions to Obligations of the Seller. 
 The obligations of Seller to perform this Agreement and consummate the Acquisition and the other transactions contemplated hereby are subject to the
satisfaction of the following conditions, unless waived by Seller pursuant to Section 11.3: 
 (a) Representations and Warranties.
For purposes of this Section 6.3(a), the accuracy of the representations and warranties of Buyer set forth in this Agreement shall be assessed as of the date of this Agreement and as of the Closing Date with the same effect as though all such
representations and warranties had been made on and as of the Closing Date (provided that representations and warranties which are confined to a specified date shall speak only as of such date). The representations and warranties of Buyer contained
herein shall be true and correct in all material respects as of the Closing Date, provided that any representation or warranty that is qualified as to materiality shall be true and correct in all respects as of the Closing Date after giving effect
to such qualification as to materiality. 
 (b) Performance of Agreements and Covenants. Each and all of the agreements and covenants
of Buyer to be performed and complied with pursuant to this Agreement and the other agreements contemplated hereby prior to the Closing Date shall have been duly performed and complied with in all material respects. 
 (c) Certificates. Buyer shall have delivered to Seller (i) a certificate, dated as of the Closing Date and signed on its behalf by its chief
executive officer and its chief financial officer, to the effect that the conditions set forth in Section 6.1 as relates to Buyer and in Sections 6.3(a) and 6.3(b) have been satisfied, and (ii) certified copies of resolutions duly adopted
by Buyer’s Board of Directors evidencing the taking of all corporate action necessary to authorize the execution, delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby, all in such reasonable
detail as Seller and its counsel shall request. 
 (d) Delivery of Documents at Closing. Delivery of the following documents, duly
executed by authorized officers of Buyer: 
 (i) The Assignment and Assumption Agreements; 
 (ii) The Primary Escrow Agreement and the Gunter Escrow Agreement in substantially the forms attached hereto as Exhibit 4.10(a) and Exhibit
4.10(b), respectively. 
 ARTICLE 7 
 TERMINATION 
 7.1 Termination. 
 Notwithstanding any other provision of this Agreement, this Agreement may be terminated and the Acquisition abandoned at any time prior to the Closing
Date as follows: 
 (a) By mutual written consent duly authorized by the Boards of Directors of Buyer and Seller; or 
  

 36 

 (b) By either Buyer or Seller in the event that the Acquisition shall not have been consummated by
December 31, 2006 (the “End Date”), if the failure to consummate the transactions contemplated hereby on or before such date is not caused by any breach of this Agreement by the Party electing to terminate pursuant to this
Section 7.1(b); or 
 (c) By either Buyer or Seller (provided that the terminating Party is not then in material breach of any
representation, warranty, covenant, or other agreement contained in this Agreement) in the event of a breach by the other Party of any representation, warranty, covenant or agreement contained in this Agreement which breach is reasonably likely, in
the opinion of the non-breaching Party, to permit such Party to refuse to consummate the transactions contemplated by this Agreement pursuant to the standards set forth in Section 6.2 (a) or (b) or 6.3(a) or (b), as applicable;
provided that if such breach in the representations, warranties, covenants or agreements is curable prior to the End Date through the exercise of reasonable efforts and the breaching Party exercises reasonable efforts to cure such breach, then the
non-breaching Party may not terminate this Agreement under this Section 7.1(c) prior to thirty (30) days following the receipt of written notice of such breach; or 
 (d) By either Buyer or Seller in the event (i) any Consent of any Regulatory Authority required for consummation of the Acquisition and the other
transactions contemplated hereby, shall have been denied by final nonappealable action of such authority or if any action taken by such authority is not appealed within the time limit for appeal, or (ii) any Law or Order permanently
restraining, enjoining or otherwise prohibiting the consummation of the Acquisition shall have become final and nonappealable; or 
 (e) By
either Buyer or Seller (provided that the terminating Party is not then in material breach of any representation, warranty, covenant, or other agreement contained in this Agreement) in the event that any of the conditions precedent to the
obligations of such Party (as contained in Sections 6.2 and 6.3, as applicable) to consummate the Acquisition cannot be satisfied or fulfilled by the date specified in Section 7.1(b). 
 7.2 Effect of Termination. 
 In the
event of the termination and abandonment of this Agreement pursuant to Section 7.1, this Agreement shall become void and have no effect, except that (i) the provisions of Sections 4.4(a), 7.2, 7.3 and Article 11, shall survive any such
termination and abandonment, and (ii) no such termination shall relieve the breaching Party from Liability resulting from any breach by that Party of this Agreement. In the event that Buyer, on the one hand, or Seller, on the other hand,
defaults upon or breaches in any material respect any commitment or agreement set forth in this Agreement, the non-breaching party shall have all rights afforded by law and equity against the defaulting or breaching party. 
  

 37 

 7.3 Expenses. Each of the Parties shall bear and pay all direct costs and expenses incurred by it
or on its behalf in connection with the transactions contemplated hereunder, including filing, registration and application fees, printing fees, and fees and expenses of its own financial or other consultants, investment bankers, accountants, and
counsel. 
 ARTICLE 8 
 INDEMNIFICATION 
 8.1 Indemnification by the Seller. Seller hereby agrees to indemnify and hold harmless Buyer
and the respective officers, directors, agents or Affiliates of Buyer (the “Buyer Indemnified Parties”), from and against any and all demands, claims, actions or causes of action, assessments, losses, diminution in value, damages
(including special and consequential damages), Liabilities, costs and expenses, including but not limited to reasonable attorneys’ fees (“Losses”), suffered or incurred by any such party by reason of or arising out of any of
the following: 
 (a) the Retained Liabilities and the Retained Assets; 
 (b) the breach of any representation or warranty of Seller contained herein or in any other document or instrument delivered by Seller in connection
herewith; 
 (c) the non-fulfillment of any covenant or agreement of Seller contained herein or any other document or instrument delivered by
Seller in connection herewith; 
 (d) the failure to deliver good, valid and marketable title to any of the Assets; and 
 (e) the impairment or preclusion of Fifth Third Bank’s right to collect the Pledged Receivables as a result of Seller’s assignment to Buyer of
the Assigned Contracts. 
 8.2 Indemnification by Buyer. Buyer shall indemnify and hold harmless Seller, and any of its respective
officers, directors, agents and Affiliates (the “Seller Indemnified Parties”), at all times after the date hereof from and against any and all Losses suffered or incurred by any such party by reason of, or arising out of any of the
following: 
 (a) the Assumed Liabilities and the operation by Buyer of the Business after the Closing; 
 (b) the breach of any representation or warranty contained herein or in any other document or instrument delivered by Buyer in connection herewith; and

  

 38 

 (c) the non-fulfillment of any covenant or agreement of Buyer contained herein or in any other document
or instrument delivered by Buyer in connection herewith. 
 8.3 Notice and Opportunity to Defend; Third Party Claims. 
 (a) The Buyer Indemnified Party or the Seller Indemnified Party, as applicable (the “Indemnified Party”), shall promptly notify in
writing the indemnifying party (the “Indemnifying Party”) of any matter giving rise to an obligation to indemnify, specifying the basis on which indemnification is sought. 
 (b) If the claim for indemnification does not involve a Third Party Claim, the Indemnifying Party shall have twenty (20) days to object to such
claim by delivery of a written notice of such objection to the Indemnified Party specifying the basis for such objection. Failure to timely so object shall constitute a final and binding acceptance by the Indemnifying Party of the claim and the
Indemnifying Party shall pay such claim by wire transfer of immediately available funds within ten (10) days after such twenty (20) day period or, if later, the date the amount of such claim is determined. 
 (c) If the claim for indemnification involves a Third Party Claim, such Third Party Claim shall be subject to the following terms and conditions:

 (i) The Indemnifying Party shall have thirty (30) days (or such lesser time as may be necessary to comply with statutory response
requirements for litigation claims) from receipt of the claim (the “Notice Period”) to notify the Indemnified Party, (x) whether or not the Indemnifying Party disputes its Liability to the Indemnified Party with respect to such
Third Party Claim, and (y) notwithstanding any such dispute, whether or not the Indemnifying Party desires, at its sole cost and expense, to defend the Indemnified Party against such Third Party Claim. 
 (ii) In the event that the Indemnifying Party notifies the Indemnified Party within the Notice Period that it desires to defend the Indemnified Party
against such Third Party Claim then the Indemnifying Party shall have the right to defend the Indemnified Party by appropriate proceedings, which proceedings shall be promptly settled or prosecuted by the Indemnifying Party to a final conclusion in
such a manner as to minimize the risk of the Indemnified Party becoming subject to Liability for any significant matter. If the Indemnified Party desires to participate in, but not control, any such defense or settlement, it may do so at its sole
cost and expense. If in the reasonable opinion of this Indemnified Party, any such Third Party Claim or the litigation or resolution of any such Third Party Claim involves an issue or matter which could have a material adverse effect on the
Indemnified Party, including, without limitation, the administration of the Tax Returns of the Indemnified Party or a dispute with a significant customer or supplier of the Business, then the Indemnified Party shall have the right to control the
defense or settlement of any such claim or demand and its reasonable costs and expenses shall be included as part of the indemnification obligation of the Indemnifying Party. If the Indemnified Party should elect to exercise such right, the
Indemnifying Party shall have the right to participate in, but not control, the defense or settlement of such claim at its sole cost and expense. 
  

 39 

 (iii) Except where the Indemnifying Party disputes its Liability in a timely manner under this
Section 8.3(c), the Indemnifying Party shall be conclusively liable for the amount of any Loss resulting from such claim or defense which is unsuccessful. 
 (iv) The Indemnified Party and the Indemnifying Party shall cooperate with each other in all reasonable respects in connection with the defense of any Third Party Claim, including making available records relating to
such claim and management employees as may be reasonably necessary for the preparation of the defense of any such claim or for testimony as witness in any proceeding relating to such Third Party Claim. 
 (v) No settlement of a Third Party Claim shall be made without the prior written consent of the Indemnified Party, which consent shall not be
unreasonably withheld or delayed. 
 8.4 Survival of Representations and Warranties. The representations and warranties of the Parties
hereto contained herein shall survive the Closing and shall remain in full force and effect until the third (3rd) anniversary of the Closing Date except that each representation of warranty set forth in Sections 2.1, 2.2, 2.3, 2.11, 2.18, 2.19, 2.20, 2.21, 2.22, 2.25 and 2.27 shall remain in fully force and effect until the expiration of
the applicable statute of limitation period for any claim related thereto. Any right of indemnification pursuant to this Article 8 with respect to a claimed breach of a representation or warranty shall expire at the date of termination of the
representation or warranty claimed to be breached except that the Indemnifying Party shall continue to be responsible after such date for those specific claims and losses of which they have received notice required by this Section prior to the end
of the survival periods referred to herein. The representations, warranties, covenants and agreements herein shall not be affected or deemed waived by reason of the fact that the other Party or its representatives should have known that any such
representations, warranties, covenants or agreements are or might be inaccurate in any respect. Except as set forth in this Agreement, any furnishing of information to a Party by the other Party, pursuant to, or otherwise in connection with, this
Agreement shall not waive a Party’s right to rely on any representation, warranty, covenant or agreement made by the other Party. 
  

 40 

 8.5 Primary Escrow Agreement. The funds held in escrow by the escrow agent pursuant to the Primary
Escrow Agreement are intended to give security to the Buyer Indemnified Parties in case Seller shall become liable, after the Closing Date, for any amounts for which the Buyer Indemnified Parties are entitled to indemnification by Seller pursuant to
this Article 8. The Buyer Indemnified Parties may set off the amount to which they are entitled under this Article 8 against the escrowed funds in the Primary Escrow Agreement. The rights and remedies of the Buyer Indemnified Parties under the
Primary Escrow Agreement shall be in addition to, and not exclusive of, any other rights and remedies that the Buyer Indemnified Parties may have against Seller for a breach of any provision of this Agreement or with respect to any of the items
enumerated above. 
 8.6 Indemnification Security. The indemnification obligations of the Seller under this Article 8 shall be binding
on successors and assigns of Seller. In the event that Seller or its Subsidiaries enter into a transaction or series of transactions at any time after the date of this Agreement but prior to the expiration of all indemnification obligations under
this Agreement to sell a material portion of Seller and its Subsidiaries remaining business other than in the ordinary course of business, then, as a condition to the closing of such transaction or transactions, the buyer shall agree to be subject
to and bound by the Seller’s indemnification obligations contained in this Article 8. 
 ARTICLE 9 
 EMPLOYEE MATTERS 
 9.1
Employees. 
 (a) Seller shall be responsible for the payment of all earned but unpaid salaries, bonus, vacation pay, sick pay, holiday
pay, severance pay and other like obligations and payments to the Business Employees for all periods ending on and prior to the Closing Date. Seller shall be responsible for the payment of any amounts due to its employees pursuant to the employee
benefit plans of Seller as a result of the employment of its employees through the Closing Date, and, in determining bonuses and other similar payments due to such employees for any period ended on or prior to the Closing, Seller shall, if payment
thereof will occur after the Closing, waive any requirement that such employees be employees of a Seller on the date such bonuses or other similar payments are paid. Seller shall be responsible for all unpaid medical claims occurring prior to the
Closing and for the cost associated with confinement in any medical care, nursing, rehabilitation or similar facility which commences prior to the Closing. Seller shall be responsible for (a) all Liabilities arising under the employee benefit
plans of Seller or ERISA Affiliate of Seller or (b) Liabilities associated with any leaves taken prior to the Closing Date in connection with the Family and Medical Leave Act of 1993. Effective at the Closing, Seller (i) shall assign to
Buyer any confidentiality agreement previously entered into between Seller and such employees related to the Business, and (ii) to the extent such confidentiality agreement is not assignable, Seller hereby releases such employee from any
confidentiality agreement previously entered into between Seller and such employees relating to the Business to the extent (but only to the extent) necessary for Buyer to operate the Business in the same manner as operated by Seller prior to the
Closing Date. Seller shall not release any employee from any confidentiality agreement executed by such employee in favor of third parties relating to receipt of confidential information in connection with potential business acquisitions.

  

 41 

 (b) Buyer may, at its sole discretion, offer employment to any Business Employee. Seller hereby consents
to the hiring of any of the Business Employees and waives any claims or rights Seller may have against Purchaser or any such employee under any non-competition or employment agreement to the extent such agreements would preclude such employment by
Buyer or limit the ability of such employee to perform services on Buyer’s behalf. 
 9.2 Seller’s Benefit Plans. Buyer
shall assume no Liability with respect to and Buyer shall not become the sponsor of any employee benefit plan or arrangement of any type whatsoever maintained by or contributed to by Seller or any ERISA Affiliate of Seller. Seller shall be
responsible for complying with the requirements of Code Section 4980B and Part 6 of Title 1 of ERISA for Business Employees (whether or not such employees are hired by Buyer) and their “qualified beneficiaries” who experience a
“qualifying event” (as such terms are defined in Code Section 4980B) and lose coverage under a Seller Welfare Plan. Seller will cause all applicable employer matching contributions to be made to the accounts of all Business Employees
under the Sellers’ Code Section 401(k) plan for that portion of the plan year during which such Business Employee was eligible to receive an employer matching contribution, without regard to any requirement that such employee be employed
on any particular date or earn any minimum number of hours of service to receive such contribution. Seller shall cause all Business Employees to become fully vested as of the Closing Date in their accounts under Seller’s Code § 401(k)
plan. To the extent permitted by, and in accordance with, the provisions of Seller’s Code Section 401(k) plan, the Code and ERISA, the Seller will provide for distribution under such plan to each Business Employee by reason of the
termination of employment of such employee from Seller. 
 9.3 Employee Files. To the extent permitted by Law, on the Closing Date, or
as soon as practicable thereafter, Seller shall deliver to a designee of Buyer a copy of all historical personnel and medical records of each of the Business Employees hired by Buyer, if any, including, but not limited to, employment agreements,
confidentiality and noncompete agreements, employment applications, corrective action reports, disciplinary reports, notices of transfer, notices of rate changes, other similar documents and all medical records. Buyer shall be responsible for any
unlawful use or disclosure by it of any such personal or medical records, 
 9.4 Non-Solicitation. Seller shall terminate effective as
of the Closing all employment agreements it has with any of the Business Employees hired by Buyer, if any. Until the expiration of five (5) years after the Closing, Seller shall not directly or indirectly solicit or offer employment to any
employee who is then an employee of Buyer, or who has terminated such employment without the consent of Buyer within one (1) year of such solicitation or offer. 
 9.5 WARN Act. To the extent that any obligations under the WARN Act or any similar provision of Law (“WARN Obligations”) arise as a consequence of the 

  

 42 

 
transactions contemplated by this Agreement, it is agreed that Seller shall be responsible for any WARN Obligations arising as a result of any employment
losses from Seller occurring prior to the Closing Date, except to the extent that such WARN Obligations are the result of the offers of employment made by Buyer to the Business Employees which WARN Obligations shall be the responsibility of Buyer,
and Buyer shall be responsible for any WARN Obligations arising as a result of any employment losses occurring upon or following the Closing Date. 
 9.6 Retained Liabilities and Assumed Liabilities. All amounts under this Article 9 which the Seller is specifically responsible for shall constitute Retained Liabilities, and all amounts under this Article 9 which Buyer is
specifically responsible for shall constitute Assumed Liabilities. 
 ARTICLE 10 
 CERTAIN DEFINITIONS 
 10.1
Definitions. 
 (a) Except as otherwise provided herein, the capitalized terms set forth below shall have the following meanings:

 “Acquisition” shall have the meaning set forth in the Preamble 
 “Acquisition Documents” shall mean this Agreement and the other documents and instruments to be delivered pursuant to this Agreement.

 “Acquisition Proposal” shall have the meaning set forth in Section 4.13. 
 “Agreement” shall have the meaning set forth in the Preamble. 
 “Affiliate” of a party shall mean: (i) any other Person directly, or indirectly through one or more intermediaries, controlling, controlled by or under common control with such party; (ii) any
officer, director, partner, employer or direct or indirect beneficial owner of any ten percent (10%) or greater equity or voting interest of such party; or (iii) any other Person for which a Person described in clause (ii) above acts
in any such capacity. For purposes of the foregoing, “control” shall have the meaning provided by Rule 405 of the Securities Act, or any successor rule thereto. 
 “Agreement” shall mean this Asset Purchase Agreement, including the Exhibits and Schedules delivered pursuant hereto and incorporated herein by reference. 
 “Allocable Consideration” shall have the meaning set forth in Section 1.7. 
 “Allocation Schedule” shall have the meaning set forth in Section 1.7. 
 “Assets” shall have the meaning set forth in Section 1.1. 
 “Assigned Contracts” shall have the meaning set forth in Section 1.1(d). 
  

 43 

 “Assigned Leases” shall have the meaning set forth in Section 1.1(c). 
 “Assumed Liabilities” shall have the meaning set forth in Section 1.5. 
 “Assignment and Assumption Agreements” shall have the meaning set forth in Section 6.2(e)(ii). 
 “Business” shall have the meaning set forth in the Preamble. 
 “Business Financial Statements” shall mean the Income Statements and the Statement of Assets and Liabilities. 
 “Business Employees” shall mean those individuals listed on Schedule 2.14. 
 “Buyer”
shall have the meaning set forth in the Preamble. 
 “Buyer Indemnified Parties” shall have the meaning set forth in
Section 8.1. 
 “Closing” shall have the meaning set forth in Section 1.6. 
 “Closing Date” shall have the meaning set forth in Section 1.6. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder. 
 “Compensation Programs” shall have the meaning set forth in Section 2.15(c). 
 “Confidentiality Agreements” shall have the meaning set forth in Section 4.3(a). 
 “Consent” shall mean any consent, approval, authorization, clearance, exemption, waiver of or similar affirmation by any Person pursuant to any
contract or agreement, Law, Order or permit. 
 “Conveyance Documents” shall have the meaning set forth in Section 6.2(e)(i).

 “Deferred Contracts” shall have the meaning set forth in Section 1.9. 
 “DGCL” shall mean the Delaware General Corporation Law. 
 “End Date” shall have the meaning set forth in Section 7.1(b). 
 “Environmental
Laws” means all Laws relating to pollution or protection of human health or the environment (including ambient air, surface water, groundwater, land surface, or subsurface strata), including, without limitation (i) the Comprehensive
Environmental Response Compensation and Liability Act, 42 U.S.C. §§9601 et seq. (“CERCLA”); (ii) the Solid Waste Disposal Act, as amended by the Resource 

  

 44 

 
Conservation and Recovery Act, as amended, 42 U.S.C. §§6901 et seq., (“RCRA”); (iii) the Emergency Planning and Community Right to
Know Act (42 U.S.C. §§11001 et seq.); (iv) the Clean Air Act (42 U.S.C. §§ 7401 et seq.); (v) the Clean Water Act (33 U.S.C. §§1251 et seq.); (vi) the Toxic Substances Control Act (15 U.S.C.
§§2601 et seq.); (vii) the Hazardous Materials Transportation Act (49 U.S.C. §§ 5101 et seq.); (viii) the Federal Insecticide, Fungicide and Rodenticide Act (7 U.S.C. §§136 et seq.); (ix) the Safe
Drinking Water Act (41 U.S.C. §§300f et seq.); (x) any state, county, municipal or local statutes, laws or ordinances similar or analogous to the federal statutes listed in parts (i)—(ix) of this subparagraph; (xi) any
amendments to the statutes, laws or ordinances listed in parts (i)—(x) of this subparagraph, regardless of whether in existence on the date hereof; (xii) any rules, regulations, guidelines, directives, orders or the like adopted pursuant
to or implementing the statutes, laws, ordinances and amendments listed in parts (i)—(xi) of this subparagraph; and (xiii) any other law, statute, ordinance, amendment, rule, regulation, guideline, directive, order or the like in effect
now or in the future relating to environmental, health or safety matters. 
 “Environmental Permits” shall have the meaning set
forth in Section 2.17(d). 
 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

“ERISA Affiliate” shall mean, with respect to any entity, any other entity, which, together with such entity, would be treated as a single
employer (i) under Section 414(b) or (c) of the Code or (ii) for purposes of any Benefit Plan subject to Title IV of ERISA, under Section 414(b), (c), (m) or (o) of the Code. 
 “Exhibits” shall mean the Exhibits so marked, copies of which are attached to this Agreement. Such Exhibits are hereby incorporated by
reference herein and made a part hereof, and may be referred to in this Agreement and any other related instrument or document without being attached hereto. 
 “Facilities” shall have the meaning set forth in Section 2.12(a). 
 “Government
Programs” shall have the meaning set forth in Section 2.19(a). 
 “Gunter Escrow Amount” shall have the meaning set forth
in Section 1.2(b)(iii). 
 “Hazardous Material” means any chemical, substance, waste, material, pollutant, contaminant,
equipment or fixture defined as or deemed hazardous or toxic or otherwise regulated under any Environmental Law, including, without limitation, RCRA hazardous wastes, CERCLA hazardous substances, pesticides and other agricultural chemicals, oil and
petroleum products or byproducts and any constituents thereof, asbestos and asbestos-containing materials, and polychlorinated biphenyls (PCBs). 
  

 45 

 “HIPAA” shall mean the Health Insurance Portability and Accountability Act of 1996, 42 U.S.C.
§ 1320d through d-8, as amended, and regulations promulgated thereunder, including the privacy, transaction standard, and security regulations. 
 “Indemnified Party” shall have the meaning set forth in Section 8.3(b). 
 Indemnifying Party
shall have the meaning set forth in Section 8.3(a). 
 “Income Statements” shall mean audited income statements for the
Business for the twelve-month periods ended December 31, 2005 and 2004 and an unaudited interim income statement for the most recent completed month immediately preceding the Closing Date. 
 “Inventory” shall have the meaning set forth in Section 1.1(j). 
 “IRS” means the Internal Revenue Service. 
 “Knowledge” as used with respect to a Person (including references to such Person being aware of a particular matter) shall mean those facts which are known or should reasonably have been known after due inquiry by the chairman,
president, chief financial officer, chief accounting officer, chief operating officer, general counsel, any assistant or deputy general counsel, compliance officer, any senior executive or other vice president or sales manager of such Person.

 “Law” shall mean any code, law, ordinance, regulation, reporting or licensing requirement, rule, or statute applicable to a
person or its assets, Liabilities or business, including those promulgated, interpreted or enforced by any Regulatory Authority. 
 “Liability” shall mean any direct or indirect, primary or secondary, liability, indebtedness, obligation, penalty, cost or expense (including costs of investigation, collection and defense), claim, deficiency, guaranty or
endorsement of or by any Person (other than endorsements of notes, bills, checks, and drafts presented for collection or deposit in the ordinary course of business) of any type, whether accrued, absolute or contingent, liquidated or unliquidated,
matured or unmatured, or otherwise. 
 “Lien” means any lien, mortgage, pledge, reservation, option, right of first refusal,
restriction, security interest, title retention, or other security arrangement, conditional sale agreement, default of title, easement, encroachment, encumbrance, hypothecation, infringement or any adverse right or interest, charge, or claim of any
nature whatsoever of, on, or with respect to any property or property interest, other than Liens for current property Taxes not yet due and payable. 
 “Litigation” means any action, arbitration, cause of action, lawsuit, claim, complaint, criminal prosecution, governmental or other examination, investigation or inquiry (whether formal or informal), audit
(other than regular audits of financial statements by outside auditors), compliance review, inspection, hearing, administrative or other proceeding relating to or affecting a Party, its business, its records, its policies, its practices, its
compliance with Law, its actions, its assets (including contracts related to it), or the transactions contemplated by this Agreement. 
  

 46 

 “Losses” shall have the meaning set forth in Section 8.1. 
 Medicare and Medicaid Programs shall have the meaning set forth in Section 2.19(a). 
 “Notice Period” shall have the meaning set forth in Section 8.3(c)(i). 
 “Party” means Buyer, on the one hand, and Seller, on the other hand, and “Parties” means the Seller and Buyer. 
 “Pension Plans” shall have the meaning set forth in Section 2.15(a). 
 “Person” shall mean a natural person or any legal, commercial or governmental entity, such as, but not limited to, a corporation, general
partnership, joint venture, limited partnership, limited liability company, trust, business association, group acting in concert, or any person acting in a representative capacity. 
 “Pledged Receivables” shall have the meaning set forth in Section 1.3. 
 “Primary Escrow Amount” shall have the meaning set forth in Section 1.2(b)(i). 
 “Private Programs” shall have the meaning set forth in Section 2.19(a). 
 “Purchase Price” shall have the meaning set forth in Section 1.2(a). 
 “Regulatory Authorities” shall mean, collectively, all federal and state regulatory agencies having jurisdiction over the Parties and their
respective Subsidiaries. 
 “Remuneration” shall have the meaning set forth in Section 2.21(a). 
 “Restrictive Covenant Agreements” shall mean the restrictive covenant agreements by and between Buyer and each of Seller, Ms. Karen
Gunter, and Ms. Sandra Matteson, respectively. 
 “Retained Assets” shall have the meaning set forth in Section 1.3.

 “Retained Liabilities” shall have the meaning set forth in Section 1.4. 
 “Seller” shall have the meaning set forth in the Preamble. 
 “Seller Agreements” shall mean those agreements listed on Schedule 2.13(a). 
 “Seller
Indemnified Parties” shall have the meaning set forth in Section 8.2. 
  

 47 

 “Seller Material Adverse Effect” shall mean an event, change or occurrence which, individually
or together with any other event, change or occurrence, has had or is reasonably likely to have a material adverse impact on (i) the Assets or on the financial position, business, results of operations or prospects of the Business, or
(ii) the ability of Seller to perform its obligations under this Agreement or to consummate the Acquisition or the other transactions contemplated by this Agreement. 
 “Seller Receivables” shall have the meaning set forth in Section 1.3. 
 “Special
Meeting” shall have the meaning set forth in Section 4.12. 
 “Statement of Assets and Liabilities” shall mean audited
statements of the assets and liabilities of the Business as of December 31, 2005. 
 “Subsidiaries” shall mean all those
corporations, associations, or other business entities of which the entity in question either (i) owns or controls fifty percent (50%) or more of the outstanding equity securities either directly or through an unbroken chain of entities as
to each of which fifty percent (50%) or more of the outstanding equity securities is owned directly or indirectly by its parent (provided, there shall not be included any such entity the equity securities of which are owned or controlled in a
fiduciary capacity), (ii) in the case of partnerships, serves as a general partner, (iii) in the case of limited liability companies, serves as a managing member, or (iv) otherwise has the ability to elect a majority of the directors,
trustees, managing members or managers thereof. 
 “Taxes” shall mean any federal, state, county, local, or foreign tax, charge,
fee, levy, impost, duty, or other assessment, including income, gross receipts, excise, employment, sales, use, transfer, recording, license, payroll, franchise, severance, documentary, stamp, occupation, windfall profits, environmental, highway
use, commercial rent, customs duty, capital stock, paid-up capital, profits, withholding, Social Security, single business, unemployment, disability, real property, personal property, registration, ad valorem, value added, alternative or add-on
minimum, estimated, or other tax or governmental fee of any kind whatsoever, imposed or required to be withheld by any governmental authority, including any estimated payments relating thereto, any interest, penalties, and additions imposed thereon
or with respect thereto, and including liability for taxes of another person under Treas. Reg. Section 1.1502-6 or similar provision of state, local or foreign law, as a transferee or successor, by contract or otherwise. 
 “Tax Return” means any return, filing, questionnaire, information return or other document required to be filed, including requests for
extensions of time, filings made with estimated tax payments, claims for refund and amended returns that may be filed, for any period with any taxing authority (whether domestic or foreign) in connection with any Tax (whether or not a payment is
required to be made with respect to such filing). 
 “Third Party Claim” shall mean any Litigation threatened or instituted against
an Indemnified Party by anyone not a Party to this Agreement which would be a matter for which the Indemnified Party is entitled to indemnification under Article 8 of this Agreement. 
  

 48 

 “Transferring Employees” shall have the meaning set forth in Section 9.1(b). 

“Transfer Taxes” shall have the meaning set forth in Section 1.4(g). 
 “WARN Act” shall mean the Worker Adjustment and Retraining Notification Act, as amended. 
 “WARN Obligations” shall have the meaning set forth in Section 9.5. 
 “Welfare Plans” shall have the meaning set forth in Section 2.15(b). 
 (b) Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular. Whenever the words “include,”
“includes” or “including” are used in this Agreement, they shall be deemed followed by the words “without limitation.” The terms Buyer and Seller shall be deemed to include their respective Subsidiaries where the
context requires but such term is not provided. 
  

 49 

 ARTICLE 11 
 MISCELLANEOUS PROVISIONS 
 11.1 Notices. 
 (a) Any notice sent in accordance with the provisions of this Section 11.1 shall be deemed to have been received (even if delivery is refused or
unclaimed) on the date which is: (i) the third day following the date of proper posting, if sent by certified U.S. mail or by Express U.S. mail or private overnight courier; or (ii) the date on which sent, if sent by facsimile
transmission, with confirmation and with the original to be sent by certified U.S. mail, addressed as follows: 
  

			
	If to the Buyer:	 	Pediatric Services of America, Inc.
		 	310 Technology Parkway
		 	Norcross, Georgia 30092-2929
		 	Attention: James M. McNeill
		 	Telecopy Number: (770) 248-8192
		
	Copy to Counsel:	 	McKenna Long & Aldridge LLP
		 	303 Peachtree Street, Suite 5300
		 	Atlanta, Georgia 30308
		 	Attention: Thomas Wardell, Esq.
		 	Telecopy Number: (404) 527-4198
		
	If to Seller:	 	Melmedica Children’s Healthcare, Inc.
		 	17600 South Pulaski Rd.
		 	Country Club Hills, IL 60478
		
	Copy to Counsel:	 	Stone, Pogrund & Korey
		 	221 North La Salle Street, 32nd Floor
		 	Chicago, Illinois 60601
		 	Attention: Sherwin I. Pogrund, Esq.
		 	Telecopy Number: (312) 782-1482
		
	Copy to Fifth Third Bank:	 	James W. Lee, AVP
		 	830 Pleasant St.
		 	St. Joseph, MI 49085
		 	Telecopy Number: (269) 982-7444

 (b) Any party hereto may change its address specified for notices herein by designating a new
address by notice in accordance with this Section 11.1. 
 11.2 Further Assurances. Each party covenants that at any time, and
from time to time, after the Closing, it will execute such additional instruments and take such actions as may be reasonably requested by the other parties to confirm or perfect or otherwise to carry out the intent and purposes of this Agreement.

  

 50 

 11.3 Waiver. Each Party has the right to waive any default in the performance of any term of this
Agreement by the other Party, to waive or extend the time for compliance or fulfillment by the other Party of any of its obligations under this Agreement, and to waive any of the conditions precedent to the obligations of such Party under this
Agreement except any condition which, if not satisfied, would result in the violation of any Law. No such waiver shall be effective unless in writing signed by a duly authorized officer of Buyer or the Seller, as applicable. 
 11.4 Assignment. This Agreement shall not be assignable by either of the Parties hereto without the written consent of the other Party; provided,
however, that Buyer may assign its rights and obligations under this Agreement, in whole or in part, without the consent of the Seller to any direct or indirect subsidiary or affiliate of Buyer or to any party that acquires substantially all of the
assets or stock of Buyer or any successor entity resulting from a merger or consolidation of or with Buyer. No such assignment shall relieve Buyer of its obligations hereunder. 
 11.5 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legal
representatives, executors, administrators, successors and assigns. This Agreement shall survive the Closing and not be merged therein. 
 11.6 Headings. The section and other headings in this Agreement are inserted solely as a matter of convenience and for reference, and are not a part of this Agreement. 
 11.7 Entire Agreement. All Schedules and Exhibits attached to this Agreement are by reference made a part hereof. This Agreement and the Exhibits,
Schedules, certificates and other documents delivered pursuant hereto or incorporated herein by reference, contain and constitute the entire agreement among the Parties and supersede and cancel any prior agreements, representations, warranties, or
communications, whether oral or written, among the Parties relating to the transactions contemplated by this Agreement. Neither this Agreement nor any provision hereof may be changed, waived, discharged or terminated orally, but only by an agreement
in writing signed by the party against whom or which the enforcement of such change, waiver, discharge or termination is sought. 
 11.8
Governing Law; Severability. This Agreement shall be governed by and construed in accordance with the Laws of the State of Georgia, without regard to any applicable conflicts of Laws. The provisions of this Agreement are severable and the
invalidity of one or more of the provisions herein shall not have any effect upon the validity or enforceability of any other provision. 
 11.9 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
  

 51 

 11.10 Brokers. Seller shall indemnify, hold harmless and defend Buyer and its Affiliates, and
Buyer shall indemnify, hold harmless and defend Seller and its Affiliates from and against the payment of any and all broker’s and finder’s expenses, commissions, fees or other forms of compensation which may be due or payable from or by
the indemnifying party, or which may have been earned by any third party acting on behalf of the indemnifying party in connection with the negotiation, execution and consummation of the transactions contemplated hereby. 
 11.11 No Intention to Benefit Third Parties. Nothing in this Agreement is intended to, and shall not, benefit any Person other than the Parties
hereto nor create any third party beneficiary right in any such other Person. 
 [Signatures Begin on Next Page] 
  

 52 

 EXECUTION VERSION 
 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed on its behalf and its corporate seal to be hereunto affixed and attested by officers thereunto as of the day and year first above
written. 
  

					
	SELLER:	 	MELMEDICA CHILDREN’S HEALTHCARE, INC.
			
		 	By:	 	 /s/ Karen Gunter

		 	Name:	 	Karen Gunter
		 	Title:	 	President/CEO
		
	BUYER:	 	PEDIATRIC SERVICES OF AMERICA, INC.
			
		 	By:	 	 /s/ Daniel J. Kohl

		 	Name:	 	Daniel J. Kohl
		 	Title:	 	CEO

 EXHIBITS 
  

			
	4.10(a)	 	Form of Primary Escrow Agreement
		
	4.10(b)	 	Form of Gunter Escrow Agreement
		
	6.2(g)	 	Legal Opinion
		
	Exhibit A	 	Restrictive CovenantsLoan Agreement TPG-2101 CW 1 & 2 and Greenwich Capital Financial

 Exhibit 10.32 
  

 LOAN AGREEMENT 
 Dated as of June 15, 2006 
 Between 
 TPG-2101 CITYWEST 1 & 2, L.P. 
 as Borrower 
 And 
 GREENWICH CAPITAL FINANCIAL PRODUCTS,
INC. 
 as Lender 
  

 TABLE OF CONTENTS 
  

									
	1.	  	DEFINITIONS; PRINCIPLES OF CONSTRUCTION	  	1
		  	1.1	  	Specific Definitions	  	1
		  	1.2	  	Index of Other Definitions	  	17
		  	1.3	  	Principles of Construction	  	19
			
	2.	  	GENERAL LOAN TERMS	  	19
		  	2.1	  	The Loan	  	19
		  	2.2	  	Interest; Monthly Payments	  	19
		  		  	2.2.1	  	Generally	  	19
		  		  	2.2.2	  	Default Rate	  	20
		  		  	2.2.3	  	Taxes	  	20
		  		  	2.2.4	  	New Payment Date	  	20
		  	2.3	  	Loan Repayment.	  	21
		  		  	2.3.1	  	Repayment	  	21
		  		  	2.3.2	  	Mandatory Prepayments	  	21
		  		  	2.3.3	  	Defeasance	  	21
		  		  	2.3.4	  	Optional Prepayments	  	23
		  	2.4	  	Release of Property	  	24
		  		  	2.4.1	  	Release on Defeasance	  	24
		  		  	2.4.2	  	Release on Payment in Full	  	24
		  	2.5	  	Payments and Computations	  	24
		  		  	2.5.1	  	Making of Payments	  	24
		  		  	2.5.2	  	Computations	  	25
		  		  	2.5.3	  	Late Payment Charge	  	25
			
	3.	  	CASH MANAGEMENT AND RESERVES	  	25
		  	3.1	  	Cash Management Arrangements	  	25
		  	3.2	  	Intentionally Omitted	  	25
		  	3.3	  	Taxes and Insurance	  	25
		  	3.4	  	Capital Expense Reserves	  	26
		  	3.5	  	Rollover Reserves	  	27
		  		  	3.5.1	  	General	  	27
		  		  	3.5.2	  	Rollover Letter of Credit	  	28
		  	3.6	  	Operating Expense Subaccount	  	30
		  	3.7	  	Casualty/Condemnation Subaccount	  	30
		  	3.8	  	Security Deposits	  	30
		  	3.9	  	Cash Collateral Subaccount	  	31
		  	3.10	  	Grant of Security Interest; Application of Funds	  	31
		  	3.11	  	Property Cash Flow Allocation	  	32
			
	4.	  	REPRESENTATIONS AND WARRANTIES	  	33
		  	4.1	  	Organization; Special Purpose	  	33
		  	4.2	  	Proceedings; Enforceability	  	33
		  	4.3	  	No Conflicts	  	34

  

 i 

									
		  	4.4	  	Litigation	  	34
		  	4.5	  	Agreements	  	34
		  	4.6	  	Title	  	34
		  	4.7	  	No Bankruptcy Filing	  	35
		  	4.8	  	Full and Accurate Disclosure	  	35
		  	4.9	  	Tax Filings	  	35
		  	4.10	  	ERISA; No Plan Assets	  	36
		  	4.11	  	Compliance	  	36
		  	4.12	  	Contracts	  	36
		  	4.13	  	Federal Reserve Regulations; Investment Company Act	  	36
		  	4.14	  	Easements; Utilities and Public Access	  	37
		  	4.15	  	Physical Condition	  	37
		  	4.16	  	Leases	  	37
		  	4.17	  	Fraudulent Transfer	  	38
		  	4.18	  	Ownership of Borrower	  	38
		  	4.19	  	Purchase Options	  	38
		  	4.20	  	Management Agreement	  	38
		  	4.21	  	Hazardous Substances	  	38
		  	4.22	  	Name; Principal Place of Business	  	39
		  	4.23	  	Other Debt	  	39
		  	4.24	  	REA	  	39
			
	5.	  	COVENANTS	  	40
		  	5.1	  	Existence	  	40
		  	5.2	  	Taxes and Other Charges	  	40
		  	5.3	  	Access to Property	  	40
		  	5.4	  	Repairs; Maintenance and Compliance; Alterations	  	40
		  		  	5.4.1	  	Repairs; Maintenance and Compliance	  	40
		  		  	5.4.2	  	Alterations	  	41
		  		  	5.4.3	  	Parking Garage	  	41
		  	5.5	  	Performance of Other Agreements	  	42
		  	5.6	  	Cooperate in Legal Proceedings	  	42
		  	5.7	  	Further Assurances	  	42
		  	5.8	  	Environmental Matters	  	42
		  		  	5.8.1	  	Hazardous Substances	  	42
		  		  	5.8.2	  	Environmental Monitoring	  	42
		  		  	5.8.3	  	O & M Program	  	44
		  	5.9	  	Title to the Property	  	44
		  	5.10	  	Leases	  	44
		  		  	5.10.1	  	Generally	  	44
		  		  	5.10.2	  	Material Leases	  	45
		  		  	5.10.3	  	Minor Leases	  	45
		  		  	5.10.4	  	Additional Covenants with respect to Leases	  	46
		  		  	5.10.5	  	BMC Space Master Lease	  	46
		  	5.11	  	Estoppel Statement	  	48
		  	5.12	  	Property Management	  	48
		  		  	5.12.1	  	Management Agreement	  	48

  

 ii 

									
		  		 	5.12.2	 	Termination of Manager	  	48
		  	5.13	 	Special Purpose Bankruptcy Remote Entity	  	49
		  	5.14	 	Intentionally Omitted	  	49
		  	5.15	 	Change in Business or Operation of Property	  	49
		  	5.16	 	Debt Cancellation	  	49
		  	5.17	 	Affiliate Transactions	  	49
		  	5.18	 	Zoning	  	49
		  	5.19	 	No Joint Assessment	  	49
		  	5.20	 	Principal Place of Business	  	49
		  	5.21	 	Change of Name, Identity or Structure	  	50
		  	5.22	 	Indebtedness	  	50
		  	5.23	 	Licenses	  	50
		  	5.24	 	Compliance with Restrictive Covenants, Etc.	  	50
		  	5.25	 	ERISA.	  	50
		  	5.26	 	Prohibited Transfers	  	50
		  		 	5.26.1	 	Generally	  	51
		  		 	5.26.2	 	Transfer and Assumption.	  	51
		  	5.27	 	Liens	  	53
		  	5.28	 	Dissolution	  	53
		  	5.29	 	Expenses	  	53
		  	5.30	 	Indemnity	  	54
		  	5.31	 	Patriot Act Compliance	  	56
		  	5.32	 	REA	  	57
			
	6.	  	NOTICES AND REPORTING	  	57
		  	6.1	 	Notices	  	57
		  	6.2	 	Borrower Notices and Deliveries	  	57
		  	6.3	 	Financial Reporting	  	58
		  		 	6.3.1	 	Bookkeeping	  	58
		  		 	6.3.2	 	Annual Reports	  	58
		  		 	6.3.3	 	Quarterly Reports	  	59
		  		 	6.3.4	 	Monthly Reports	  	59
		  		 	6.3.5	 	Other Reports	  	59
		  		 	6.3.6	 	Annual Budget	  	60
		  		 	6.3.7	 	Breach	  	60
			
	7.	  	INSURANCE; CASUALTY; AND CONDEMNATION	  	60
		  	7.1	 	Insurance	  	60
		  		 	7.1.1	 	Coverage	  	60
		  		 	7.1.2	 	Policies	  	64
		  	7.2	 	Casualty	  	65
		  		 	7.2.1	 	Notice; Restoration	  	65
		  		 	7.2.2	 	Settlement of Proceeds	  	65
		  	7.3	 	Condemnation	  	66
		  		 	7.3.1	 	Notice; Restoration	  	66
		  		 	7.3.2	 	Collection of Award	  	66
		  	7.4	 	Application of Proceeds or Award.	  	67

  

 iii 

									
		  		  	7.4.1	  	Application to Restoration	  	67
		  		  	7.4.2	  	Application to Debt	  	67
		  		  	7.4.3	  	Procedure for Application to Restoration	  	68
			
	8.	  	DEFAULTS	  	68
		  	8.1	  	Events of Default	  	68
		  	8.2	  	Remedies	  	70
		  		  	8.2.1	  	Acceleration	  	70
		  		  	8.2.2	  	Remedies Cumulative	  	70
		  		  	8.2.3	  	Severance	  	71
		  		  	8.2.4	  	Delay	  	71
		  		  	8.2.5	  	Lender’s Right to Perform	  	71
			
	9.	  	SPECIAL PROVISIONS	  	72
		  	9.1	  	Sale of Note and Secondary Market Transaction	  	72
		  		  	9.1.1	  	General; Borrower Cooperation	  	72
		  		  	9.1.2	  	Use of Information	  	73
		  		  	9.1.3	  	Borrower Obligations Regarding Disclosure Documents	  	73
		  		  	9.1.4	  	Borrower Indemnity Regarding Filings	  	74
		  		  	9.1.5	  	Indemnification Procedure	  	74
		  		  	9.1.6	  	Contribution	  	75
		  		  	9.1.7	  	Rating Surveillance	  	76
		  		  	9.1.8	  	Severance of Loan	  	76
			
	10.	  	MISCELLANEOUS	  	76
		  	10.1	  	Exculpation	  	76
		  	10.2	  	Brokers and Financial Advisors	  	78
		  	10.3	  	Retention of Servicer	  	79
		  	10.4	  	Survival	  	79
		  	10.5	  	Lender’s Discretion	  	79
		  	10.6	  	Governing Law	  	79
		  	10.7	  	Modification, Waiver in Writing	  	80
		  	10.8	  	Trial by Jury	  	81
		  	10.9	  	Headings/Exhibits	  	81
		  	10.10	  	Severability	  	81
		  	10.11	  	Preferences	  	81
		  	10.12	  	Waiver of Notice	  	81
		  	10.13	  	Remedies of Borrower	  	82
		  	10.14	  	Entire Agreement	  	82
		  	10.15	  	Offsets, Counterclaims and Defenses	  	82
		  	10.16	  	Publicity	  	82
		  	10.17	  	No Usury	  	83
		  	10.18	  	Conflict; Construction of Documents	  	83
		  	10.19	  	No Third Party Beneficiaries	  	83
		  	10.20	  	Yield Maintenance Premium	  	83
		  	10.21	  	Assignment	  	84
		  	10.22	  	Certain Additional Rights of Lender	  	84

  

 iv 

							
		  	10.23	 	Set-Off	  	85
		  	10.24	 	Counterparts	  	85
	Schedule 1	 	Intentionally Omitted	  	
	Schedule 2	 	Exceptions to Representations and Warranties	  	
	Schedule 3	 	Rent Roll	  	
	Schedule 4A	 	Organization of Borrower	  	
	Schedule 4B-D	 	Post-Closing Potential Organization of Borrower	  	
	Schedule 5	 	Definition of Special Purpose Bankruptcy Remote Entity	  	

  

 v 

 LOAN AGREEMENT 
 LOAN AGREEMENT dated as of June 15, 2006 (as the same may be modified, supplemented, amended or otherwise changed, this “Agreement”) between TPG-2101
CITYWEST 1 & 2, L.P., a Delaware limited partnership (together with its permitted successors and assigns, “Borrower”), and GREENWICH CAPITAL FINANCIAL PRODUCTS, INC., a Delaware
corporation (together with its successors and assigns, “Lender”). 
 1.
DEFINITIONS; PRINCIPLES OF CONSTRUCTION 
 1.1 Specific Definitions. The following terms have the meanings set
forth below: 
 Affiliate: as to any Person, any other Person that, directly or indirectly, is in Control of, is Controlled by
or is under common Control with such Person or is a director or officer of such Person or of an Affiliate of such Person. 
 Amortization Commencement Date: August 6, 2011, as such date may be changed in accordance with Section 2.2.4. 
 Approved Bank: a bank or other financial institution, the long term unsecured debt obligations of which are rated at least “AA” by Fitch and S&P and “Aa2” by Moody’s.

 Approved Capital Expenses: Capital Expenses incurred by Borrower, provided that during a Cash Management Period, such
Capital Expenses shall either be (i) included in the Approved Capital Budget for the current calendar year or (ii) approved by Lender in its reasonable discretion. 
 Approved Leasing Expenses: actual out-of-pocket expenses incurred by Borrower and payable to third parties (including leasing commissions
payable to Manager pursuant to the terms of the Management Agreement) in leasing space at the Property pursuant to Leases entered into in accordance with the Loan Documents, including brokerage commissions and tenant improvements, which expenses
(i) are (A) specifically approved by Lender in connection with approving the applicable Lease, (B) incurred in the ordinary course of business and on market terms and conditions in connection with Leases which do not require
Lender’s approval under the Loan Documents, or (C) otherwise approved by Lender, which approval shall not be unreasonably withheld or delayed, and (ii) are substantiated by executed Lease documents and brokerage agreements.

 Approved Major Lease Leasing Expenses: actual out-of-pocket expenses incurred by Borrower and payable to third parties
(including leasing commissions payable to Manager pursuant to the terms of the Management Agreement) in re-leasing space demised under a Major Lease at the Property pursuant to replacement Leases entered into in accordance with the Loan Documents,
including brokerage commissions and tenant improvements, which expenses (i) are (A) specifically approved by Lender in connection with approving the applicable Lease, (B) incurred in the ordinary course of business and on market terms
and conditions in connection with Leases which do not require Lender’s approval under the Loan Documents, or (C) or otherwise approved by Lender, which approval shall not be unreasonably withheld or delayed, and (ii) are substantiated
by executed Lease documents and brokerage agreements. 

 Approved Mezzanine Loan: a loan from an Approved Mezzanine Loan Lender to Approved
Mezzanine Loan Borrower which Approved Mezzanine Loan: (i) will be in an amount that when added to the Loan will result in a combined loan to “as is” appraised value (based on an appraisal commissioned by Lender and otherwise
reasonably acceptable to Lender) of the Property of no more than 78%; (ii) will result in a minimum combined Debt Service Coverage Ratio (the ratio of the Net Operating Income to the combined scheduled principal and interest payments under the
Loan and the Approved Mezzanine Loan) of not less than 1.16:1.00; (iii) is on terms and conditions reasonably acceptable to Lender and evidenced by loan documents which have been approved by Lender; (iv) is secured only by a pledge of all
or a portion of the direct or indirect ownership interests in (x) if the Other Pledge Agreement is then outstanding, a newly formed entity that is wholly owned directly or indirectly by TPG/CalSTRS and which entity holds one hundred percent
(100%) of the direct and indirect ownership interests in Borrower and SPE Party (as more particularly shown on Schedule 4B) or any other collateral not mortgaged or pledged to Lender under the Loan, or (y) if the Other Pledge Agreement is
not then outstanding, Borrower and SPE Party or any other collateral not mortgaged or pledged to Lender under the Loan; (v) creates no obligations or liabilities on the part of Borrower or the SPE Party and results in no Liens on any portion of
the Property; (vi) has a term expiring on the Stated Maturity Date; (vii) the Approved Mezzanine Lender shall enter into an intercreditor agreement with Lender in form and substance reasonably acceptable to Lender and the applicable Rating
Agencies (the “Intercreditor Agreement”), which Intercreditor Agreement shall, among other things, restrict the ability of such Approved Mezzanine Loan Lender to transfer the Approved Mezzanine Loan or the pledged interests
to another Person without first obtaining the consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed, and after a Secondary Market Transaction, a Rating Comfort Letter shall be obtained; and (viii) if the
Approved Mezzanine Loan is entered into after a Secondary Market Transaction, no such Approved Mezzanine Loan shall be permitted which would result in a downgrade, qualification or withdrawal of any of the ratings of any of the Securities issued in
such Secondary Market Transaction. 
 Approved Mezzanine Loan Borrower: the borrower under the Approved Mezzanine Loan, which
shall be (i) if the Other Pledge Agreement is then outstanding, a newly formed entity that is wholly owned directly or indirectly by TPG/CalSTRS and which entity holds one hundred percent (100%) of the direct and indirect ownership
interests in Borrower and SPE Party (as more particularly shown on Schedule 4B), or (ii) if the Other Pledge Agreement is not then outstanding, the holder or holders of all or a portion of the direct or indirect ownership interests in Borrower
(provided however, that the Approved Mezzanine Loan Borrower shall not be the SPE Party). 
 Approved Mezzanine Loan Documents:
all documents, agreements or instruments evidencing, securing or delivered to and approved by Lender in connection with the Approved Mezzanine Loan, as the same may be modified, amended and restated in accordance with the terms and conditions of the
Intercreditor Agreement. 
  

 2 

 Approved Mezzanine Loan Lender: any bank, savings and loan association, investment bank,
insurance company, trust company, commercial credit corporation, pension plan, pension fund, pension advisory firm, mutual fund, government entity or plan, investment company or institution substantially similar to any of the foregoing, provided in
each case that such institution: (i) has total assets (in name or under management) in excess of $600,000,000 and (except with respect to a pension advisory firm or similar fiduciary) capital/statutory surplus or shareholder’s equity in
excess of $250,000,000, (ii) is regularly engaged in the business of making or owning commercial real estate loans or operating commercial mortgage properties and (iii) has been reasonably approved by Lender and the Rating Agencies.

 Approved Mezzanine Loan Liens: the Liens in favor of the holder of the Approved Mezzanine Loan created pursuant to the
Approved Mezzanine Loan Documents. 
 Approved Operating Expenses: during a Cash Management Period, operating expenses incurred
by Borrower which (i) are included in the Approved Operating Budget for the current calendar month, (ii) are for real estate taxes, insurance premiums, electric, gas, oil, water, sewer or other utility service to the Property,
(iii) are for payment of fees and expenses payable to the Manager pursuant to the Management Agreement, or (iv) have been approved by Lender, such approval not to be unreasonably withheld, conditioned or delayed. 
 Available Cash: as of each Payment Date during the continuance of a Cash Management Period, the amount of Rents, if any, remaining in the
Deposit Account after the application of all of the payments required under clauses (i) through (v) of Section 3.11(a) hereof. 
 BMC Software Leases: (i) the lease agreement between Borrower, as landlord, and BMC Software, Inc., as tenant, dated as of June 15, 2006, with respect to premises located in Building 1 at the
Property and (ii) the lease agreement between Borrower, as landlord, and BMC Software, Inc., as tenant, dated as of June 15, 2006, with respect to premises located in Building 2 at the Property (each, a “BMC Software
Lease”). 
 BMC Software Lease Special Termination: the surrender, cancellation or termination of either or both
of the BMC Software Leases (in whole or in part) by the tenant thereunder as a result of any act, omission, event or occurrence at the Other Property, including, without limitation, Sections 6(e), 13 and 14 of each BMC Software Lease. 
 Business Day: any day other than a Saturday, Sunday or any day on which commercial banks in New York, New York, Houston, Texas or Los
Angeles, California are authorized or required to close. 
 Calculation Date: the last day of each calendar quarter during the
Term. 
 CalSTRS: California State Teachers’ Retirement System, a public entity. 
 Capital Expenses: expenses that are capital in nature or required under GAAP to be capitalized. 
  

 3 

 Cash Management Period: shall commence upon Lender giving written notice to the Clearing
Bank of the occurrence of any of the following: (i) the Stated Maturity Date, (ii) an Event of Default, or (iii) if, as of any two consecutive Calculation Dates, the Debt Service Coverage Ratio is less than 1.025:1 (a “DSCR
Cash Management Period”) or (iv) the commencement of a Lease Sweep Period; and shall end upon Lender giving written notice to the Clearing Bank that the sweeping of funds into the Deposit Account may cease, which notice Lender
shall only be required to give if (1) the Loan and all other obligations under the Loan Documents have been repaid in full or (2) the Stated Maturity Date has not occurred and (A) with respect for the matters described in clause
(ii) above, such Event of Default has been cured and no other Event of Default has occurred and is continuing or (B) with respect to the matter described in clause (iii) above, Lender has determined that the Property has achieved a
Debt Service Coverage Ratio of at least 1.025:1 for two (2) consecutive Calculation Dates or (C) with respect to the matter described in clause (iv) above, such Lease Sweep Period has ended. Additionally, a Cash Management Period
shall exist at any time that an Approved Mezzanine Loan (or any portion thereof) is outstanding. 
 Code: the Internal Revenue
Code of 1986, as amended and as it may be further amended from time to time, any successor statutes thereto, and applicable U.S. Department of Treasury regulations issued pursuant thereto in temporary or final form. 
 Control: with respect to any Person, either (i) ownership directly or indirectly of 49% or more of all equity interests in such Person
or (ii) the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, through the ownership of voting securities, by contract or otherwise. 
 Debt: the unpaid Principal, all interest accrued and unpaid thereon, any Yield Maintenance Premium and all other sums due to Lender in
respect of the Loan or under any Loan Document. 
 Debt Service: with respect to any particular period, the scheduled Principal
and interest payments due under the Note in such period. 
 Debt Service Coverage Ratio: as of any date, the ratio calculated
by Lender in its good faith determination of (i) the Net Operating Income to (ii) the annualized Debt Service with respect to such period. 
 Default: the occurrence of any event under any Loan Document which, with the giving of notice or passage of time, or both, would be an Event of Default. 
 Default Rate: a rate per annum equal to the lesser of (i) the maximum rate permitted by applicable law, or (ii) five percent
(5%) above the Interest Rate, compounded monthly. 
 Defeasance Collateral: U.S. Obligations, which provide payments
(i) on or prior to, but as close as possible to, all Payment Dates and other scheduled payment dates, if any, under the Note after the Defeasance Date and up to and including the Permitted Prepayment Date, and (ii) in amounts equal to or
greater than the Scheduled Defeasance Payments. 
  

 4 

 Deposit Bank: Wachovia Bank, National Association, or such other bank or depository
selected by Lender in its discretion. 
 Eligible Account: a separate and identifiable account from all other funds held by the
holding institution that is either (i) an account or accounts (A) maintained with a federal or state-chartered depository institution or trust company which complies with the definition of Eligible Institution or (B) as to which
Lender has received a Rating Comfort Letter from each of the applicable Rating Agencies with respect to holding funds in such account, or (ii) a segregated trust account or accounts maintained with the corporate trust department of a federal
depository institution or state chartered depository institution subject to regulations regarding fiduciary funds on deposit similar to Title 12 of the Code of Federal Regulations §9.10(b), having in either case corporate trust powers, acting
in its fiduciary capacity, and a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal and state authorities. An Eligible Account will not be evidenced by a certificate of deposit, passbook or
other instrument. 
 Eligible Institution: a depository institution insured by the Federal Deposit Insurance Corporation the
short term unsecured debt obligations or commercial paper of which are rated at least A-1 by S&P, P-1 by Moody’s and F-1+ by Fitch, in the case of accounts in which funds are held for thirty (30) days or less or, in the case of Letters
of Credit or accounts in which funds are held for more than thirty (30) days, the long term unsecured debt obligations of which are rated at least “AA” by Fitch and S&P and “Aa2” by Moody’s. 
 ERISA: the Employment Retirement Income Security Act of 1974, as amended from time to time, and the rules and regulations promulgated
thereunder. 
 ERISA Affiliate: all members of a controlled group of corporations and all trades and business (whether or not
incorporated) under common control and all other entities which, together with Borrower, are treated as a single employer under any or all of Section 414(b), (c), (m) or (o) of the Code. 
 GAAP: generally accepted accounting principles in the United States of America as of the date of the applicable financial report.

 Governmental Authority: any court, board, agency, commission, office or authority of any nature whatsoever for any
governmental unit (federal, state, county, district, municipal, city or otherwise) now or hereafter in existence. 
 Halliburton
Leases: (i) the Amended and Restated Lease Agreement dated as of October 1, 2004 by and between BMC Software Texas, L.P., as landlord, and Halliburton Energy Services, Inc., as tenant, as amended by First Amendment to Amended and
Restated Lease Agreement dated as of April 1, 2005, with respect to certain premises located in Building 2 at the Property and (ii) Lease Agreement dated as of April 1, 2005 by and between BMC Software Texas, L.P., as landlord, and
Halliburton Energy Services, Inc., as tenant, with respect to certain premises in Building 1 at the Property (each, a “Halliburton Lease”). 
 Interest Period: (i) the period from the date hereof through the first day thereafter that is the 5th day of a calendar month and (ii) each period thereafter from the 6th day of each 

  

 5 

 calendar month through the 5th day of the following calendar month; except that the Interest Period, if any, that would otherwise commence before and end after the Maturity Date shall end on the Maturity Date. Notwithstanding the
foregoing, if Lender exercises its right to change the Payment Date to a New Payment Date in accordance with Section 2.2.4 hereof, then from and after such election, each Interest Period shall be the period from the New Payment Date in
each calendar month through the day in the next succeeding calendar month immediately preceding the New Payment Date in such calendar month. 
 Interest Rate: a rate of interest equal to 6.155% per annum (as the same may be reduced pursuant to Section 2.3.4(b) (or, when applicable pursuant to this Agreement or any other Loan Document, the Default Rate).

 Leases: all leases and other agreements or arrangements heretofore or hereafter entered into affecting the use, enjoyment or
occupancy of the Property or the Improvements, including any extensions, renewals, modifications or amendments thereof and all additional remainders, reversions and other rights and estates appurtenant thereunder. 
 Lease Sweep Period: the period which shall commence and end as hereinafter provided. 
 A Lease Sweep Period shall commence on the first Payment Date following the occurrence of any of the following: 
 (i) the date required under a Major Lease by which the applicable Major Tenant is required to give notice of its exercise of a renewal
option thereunder (and such renewal has not been so exercised, or if such Major Tenant delivers a notice of non-renewal); or 
 (ii) the date that is twelve (12) months prior to the stated expiration date of the term of any Major Lease (including any renewal terms), unless such Major Lease contains a renewal notice provision at a later date, in which case
clause (i) above shall apply; or 
 (iii) any Major Lease is surrendered, cancelled or terminated (in whole or in part)
prior to its then current expiration date (or such earlier date that the subject Major Tenant delivers notice that it intends to exercise any such surrender, cancellation or termination); or 
 (iv) any Major Tenant shall discontinue its business at the entirety of its premises (i.e., “goes dark”) or give notice that it
intends to discontinue its business; or 
 (v) the occurrence of a Major Tenant Insolvency Proceeding. 
 Notwithstanding the foregoing, a Lease Sweep Period shall not commence if, after giving effect to such matters, the Debt Service Coverage
Ratio is at least 1.15:1; provided, however, that for purposes of the foregoing, the Debt Service Coverage Ratio shall be calculated without giving credit for any Rent payable under the subject Major Lease (or portion thereof) that gave rise to the
subject Lease Sweep Period. 
  

 6 

 A Lease Sweep Period shall end upon the earlier to occur of (A) the determination by
Lender that sufficient funds have been accumulated in the Rollover Reserve Subaccount to pay for all anticipated expenses in connection with the re-leasing of the space under the applicable Major Lease that gave rise to the subject Lease Sweep
Period, including brokerage commissions and tenant improvements, and any anticipated shortfalls of payments required hereunder during any period of time that Rents are insufficient as a result of down-time or free rent periods, (B) the date
that either (x) the applicable Lease Sweep Rollover Amount (inclusive of any Lease Termination Payments paid by the applicable Major Tenant and deposited into the Rollover Reserve Subaccount) has been accumulated in the Rollover Reserve
Subaccount as a result of the applicable Lease Sweep Period or (y) Borrower delivers to Lender a Rollover Letter of Credit in an amount equal to the applicable Lease Sweep Rollover Amount (less the amount of any Lease Termination Payments paid
by the applicable Major Tenant and deposited into the Rollover Reserve Subaccount) in accordance with Section 3.5.2, or (C) the occurrence of any of the following: 
 (1) with respect to a Lease Sweep Period caused by a matter described in clauses (i), (ii), (iii) or (iv) above, upon the earlier to occur
of (A) the date on which the subject Major Tenant irrevocably exercises its renewal or extension option (or otherwise enters into an extension agreement with Borrower and acceptable to Lender) with respect to all of the space demised under its
Major Lease, and in Lender’s reasonable good faith judgment, sufficient funds have been accumulated in the Rollover Reserve Subaccount (which shall not be more than funds in the amount of $15.00 per square foot of the premises under such Major
Lease (or such lesser amount approved by Lender)) during the continuance of the subject Lease Sweep Period to pay for all anticipated Approved Major Lease Leasing Expenses for such Major Lease and any other anticipated expenses in connection with
such renewal or extension, or (B) the date on which (x) all or any portion of the space demised under the subject Major Lease that gave rise to the subject Lease Sweep Period has been re-leased pursuant to a replacement Lease or
replacement Leases approved by Lender (or which do not require Lender’s approval pursuant to Section 5.10), and entered into in accordance with Section 5.10 hereof, (y) all Approved Major Lease Leasing Expenses (and
any other expenses in connection with the re-tenanting of such space) have been paid in full and (z) after giving effect to the Rent that is payable under such replacement Lease(s), the Property will achieve a Debt Service Coverage Ratio of at
least 1.15:1; or 
 (2) with respect to a Lease Sweep Period caused by a matter described in clause (v) above, if the applicable Major
Tenant Insolvency Proceeding has terminated and the applicable Major Lease has been affirmed, assumed or assigned in a manner reasonably satisfactory to Lender. 
 Lease Sweep Rollover Amount: (i) an amount equal to $15 per square foot of the leased premises under a Major Lease that is the subject of the applicable Lease Sweep Period or
(ii) in the case of a Lease Sweep Period that was triggered by a contraction/partial termination of a Major Lease, $10 per square foot of the terminated space under such Major Lease. 
  

 7 

 Lease Termination Payments: (i) all fees, penalties, commissions or other payments
made to Borrower in connection with or relating to the rejection, buy-out, termination, surrender or cancellation of any Lease (including in connection with any bankruptcy proceeding), (ii) any security deposits or proceeds of letters of credit
held by Borrower in lieu of cash security deposits, which Borrower is permitted to retain pursuant to the applicable provisions of any Lease and (iii) any payments made to Borrower relating to unamortized tenant improvements and leasing
commissions under any Lease. 
 Legal Requirements: statutes, laws, rules, orders, regulations, ordinances, judgments, decrees
and injunctions of Governmental Authorities affecting Borrower, any Loan Document or all or part of the Property or the construction, ownership, use, alteration or operation thereof, whether now or hereafter enacted and in force, and all permits,
licenses and authorizations and regulations relating thereto, and all covenants, agreements, restrictions and encumbrances contained in any instrument, either of record or known to Borrower, at any time in force affecting all or part of the
Property. 
 Letter of Credit: an irrevocable, unconditional, transferable, clean sight draft letter of credit acceptable to
Lender in its reasonable discretion and to the Rating Agencies (either an evergreen letter of credit or one which does not expire until at least thirty (30) days after the Stated Maturity Date) in favor of Lender and entitling Lender to draw
thereon in New York, New York (or such other location agreed to by Lender), issued by a domestic Approved Bank or the U.S. agency or branch of a foreign Approved Bank, to an applicant/obligor that is an Affiliate of Borrower. 
 Lien: any mortgage, deed of trust, lien (statutory or otherwise), pledge, hypothecation, easement, restrictive covenant, preference,
assignment, security interest or any other encumbrance, charge or transfer of, or any agreement to enter into or create any of the foregoing, on or affecting all or any part of the Property or any interest therein, or any direct or indirect interest
in Borrower or the SPE Party, including any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, the filing of any financing statement, and mechanic’s,
materialmen’s and other similar liens and encumbrances. 
 Loan Documents: this Agreement and all other documents,
agreements and instruments now or hereafter evidencing, securing or delivered to Lender in connection with the Loan, including the following, each of which is dated as of the date hereof: (i) the Promissory Note or Promissory Notes made by
Borrower to Lender in the aggregate principal amount equal to the Loan (the “Note”), (ii) the Deed of Trust, Assignment of Leases and Rents and Security Agreement made by Borrower to a trustee, favor of Lender which
covers the Property (the “Mortgage”), (iii) Assignment of Leases and Rents from Borrower to Lender (the “Assignment of Leases”), (iv) Assignment of Agreements, Licenses, Permits and Contracts
from Borrower to Lender, (v) the Clearing Account Agreement (the “Clearing Account Agreement”) among Borrower, Lender, Manager and Clearing Bank, (vi) the Deposit Account Agreement (the “Deposit Account
Agreement”) among Borrower, Lender, Manager and the Deposit Bank, and (vii) the Pledge and Security Agreement executed by TPG/CalSTRS in favor of Lender which creates a security interest in the 100% direct and indirect ownership
interest of TPG/CalSTRS in the Other Property Owner; as each of the foregoing may be (and each of the foregoing defined 

  

 8 

 terms shall refer to such documents as they may be) amended, restated, replaced, severed, split, supplemented or
otherwise modified from time to time (including pursuant to Section 9.1.8 hereof). 
 Major Lease:
each BMC Software Lease and each Halliburton Lease. 
 Major Tenant: any tenant under a Major Lease. 

Major Tenant Insolvency Proceeding: (A) the admission in writing by any Major Tenant of its inability to pay its
debts generally, or the making of a general assignment for the benefit of creditors, or the instituting by any Major Tenant of any proceeding seeking to adjudicate it insolvent or seeking a liquidation or dissolution, or the taking advantage by any
Major Tenant of any Insolvency Law (as hereinafter defined), or the commencement by any Major Tenant of a case or other proceeding naming it as debtor under any Insolvency Law or the instituting of a case or other proceeding against or with respect
to any Major Tenant under any Insolvency Law or (B) the instituting of any proceeding against or with respect to any Major Tenant seeking liquidation of its assets or the appointment of (or if any Major Tenant shall consent to or acquiesce in
the appointment of) a receiver, liquidator, conservator, trustee or similar official in respect of it or the whole or any substantial part of its properties or assets or the taking of any corporate, partnership or limited liability company
action in furtherance of any of the foregoing. As used herein, the term “Insolvency Law” shall mean Title 11 of the United States Code (11 U.S.C. §§ 101 et seq.) as the same has been or may be amended
or superseded from time to time, or any other applicable domestic or foreign liquidation, conservatorship, bankruptcy, receivership, insolvency, reorganization, or any similar debtor relief laws affecting the rights, remedies, powers, privileges and
benefits of creditors generally. 
 Management Agreement: the management agreement between Borrower and Manager, pursuant to
which Manager is to manage the Property, as same may be amended, restated, replaced, supplemented or otherwise modified from time to time in accordance with Section 5.12 hereof. 
 Manager: TPG-FP Services, L.P., a Texas limited partnership, or any successor, assignee or replacement manager appointed by Borrower in
accordance with Section 5.12 hereof. 
 Material Alteration: any alteration affecting structural elements of the
Property the cost of which exceeds $1,000,000; provided, however, that in no event shall (i) any tenant improvement work performed pursuant to any Lease existing on the date hereof or entered into hereafter in accordance with the provisions of
this Agreement, or (ii) alterations performed as part of a Restoration, constitute a Material Alteration. 
 Material
Lease: all Leases which individually or in the aggregate with respect to the same tenant and its Affiliates (i) cover more than 80,000 square feet of the Improvements or (ii) have a gross annual rent of more than twelve percent
(12%) of the total annual Rents. 
 Maturity Date: the date on which the final payment of principal of the Note becomes
due and payable as therein provided, whether at the Stated Maturity Date, by declaration of acceleration, or otherwise. 
  

 9 

 Minor Lease: any Lease that is not a Material Lease. 
 Net Operating Income: for any period, the actual net operating income of the Property determined on a cash basis of accounting, after
deducting therefrom deposits to (but not withdrawals from) any reserves required under this Agreement, and without taking into account in such calculation of Net Operating Income any non-recurring extraordinary items of income. Notwithstanding
anything to the contrary contained herein, Net Operating Income shall be calculated on a trailing 12-month basis; provided, however, with respect to income from base rent and recoveries under Non-Affiliated Leases (hereinafter defined) at the
Property, such portion of Net Operating Income shall be calculated based upon the monthly base rent and recoveries under all executed Non-Affiliated Leases in place (for which the tenants thereunder have taken occupancy and have commenced the
payment of rent thereunder) for the then current month, multiplied by twelve (12) (i.e., annualizing such income for the then current month, in lieu of using a trailing 12 month basis), without regard to any free rent periods then in effect. As
used herein, “Non-Affiliated Leases” means all Leases with tenants that are not Affiliates of Borrower. Additionally, notwithstanding the foregoing, for the purposes of calculating Net Operating Income during a Lease Sweep
Period, no deduction for deposits to the Rollover Reserve Subaccount shall be taken. 
 Officer’s Certificate: a
certificate delivered to Lender by Borrower which is signed by a senior executive officer of the SPE Party. 
 OP: Thomas
Properties Group, L.P., a Maryland limited partnership. 
 Other Charges: all ground rents, maintenance charges, impositions
other than Taxes, and any other charges, including vault charges and license fees for the use of vaults, chutes and similar areas adjoining the Property, now or hereafter levied or assessed or imposed against the Property or any part thereof.

 Other Loan: the loan being made on the date hereof from Lender to Other Property Owner in the amount of up to $92,400,000.

 Other Pledge Agreement: that certain Pledge and Security Agreement of even date herewith made by TPG/CalSTRS for the benefit
of the holder of the Other Loan, which creates a security interest in the 100% ownership direct and indirect interest of TPG/CalSTRS in Borrower. 
 Other Property: The property known as Buildings 3 and 4 at 2101 CityWest Boulevard, Houston, Texas. 
 Other
Property Owner: TPG-2101 CityWest 3 & 4, L.P., a Delaware limited partnership (the owner of the Other Property). 
 Payment
Date: the 6th day of each calendar month or, upon Lender’s exercise of its right to change the Payment
Date in accordance with Section 2.2.4 hereof, the New Payment Date (in either case, if such day is not a Business Day, the Payment Date shall be the first Business Day thereafter). The first Payment Date hereunder shall be August 6,
2006. 
  

 10 

 Permitted Encumbrances: (i) the Liens created by the Loan Documents, (ii) all
Liens and other matters disclosed in the Title Insurance Policy, (iii) Liens, if any, for Taxes or Other Charges not yet due and payable and not delinquent, (iv) any workers’, mechanics’ or other similar Liens on the Property
provided that any such Lien is bonded or discharged within thirty (30) days after Borrower first receives notice of such Lien, (v) such other title and survey exceptions as Lender approves in writing in Lender’s reasonable discretion,
(vi) Liens created by the Other Pledge Agreement and (vii) during any period that an Approved Mezzanine Loan is outstanding, the Approved Mezzanine Loan Liens. 
 Permitted Transfers: 
 (i) a Lease entered into in accordance with the
Loan Documents; 
 (ii) a Permitted Encumbrance; 
 (iii) a Transfer and Assumption; 
 (iv) a Transfer of the Property in connection with a Condemnation; 
 (v) provided that no Default or
Event of Default shall then exist, (x) if the Other Pledge Agreement is then outstanding, a Transfer of a direct or indirect interest in Borrower (other than any partnership interest in Borrower and any membership interest in SPE Party
encumbered by the Other Pledge Agreement), or (y) if the Other Pledge Agreement is not then outstanding, a Transfer of a direct or indirect interest in Borrower, other than the partnership interest held by SPE Party, to any Person provided that
(A) such Transfer shall not (x) cause the transferee (other than TPG, the REIT, CalSTRS or an Approved Mezzanine Lender), together with its Affiliates, to acquire Control of Borrower or the SPE Party or to increase its direct or indirect
interest in Borrower or in the SPE Party to an amount which equals or exceeds forty-nine percent (49%) or (y) result in Borrower or the SPE Party no longer being Controlled (in the sense of clause (ii) of the defined term
“Control”) by TPG or the REIT (or an Approved Mezzanine Lender), (B) after giving effect to such Transfer, TPG or the REIT (or an Approved Mezzanine Lender) shall (1) continue to Control Borrower (in the sense of clause
(ii) of the defined term “Control”) and (2) directly or indirectly, own at least fifteen percent (15%) of all equity interests (direct or indirect) in Borrower, (C) if such Transfer would cause the transferee (other
than TPG or the REIT or CalSTRS or an Approved Mezzanine Lender) to increase its direct or indirect interest in Borrower or in the SPE Party to an amount which equals or exceeds twenty percent (20%), Lender shall have approved in its reasonable
discretion such proposed transferee, which approval shall be based upon Lender’s satisfactory determination as to the reputable character and creditworthiness of such proposed transferee, as evidenced by credit and background checks performed
by Lender and such other financial statements and other information reasonably requested by Lender, (D) Borrower shall give Lender notice of such Transfer together with copies of all instruments effecting such Transfer not less than ten
(10) days prior to the date of such Transfer, and (E) the legal and financial structure of Borrower and its members and the single purpose nature and bankruptcy remoteness of Borrower and its members after such Transfer, shall satisfy
Lender’s then current applicable underwriting criteria and requirements; 
  

 11 

 (vi) provided that no Event of Default shall then exist, a Transfer of interests in TPG in connection
with the conversion of TPG into a real estate investment trust; provided that (A) after giving affect thereto, the REIT continues to (1) Control Borrower (in the sense of clause (ii) of the defined term “Control”) and
(2) own at least fifteen percent (15%) of all equity interests (direct or indirect) in Borrower, (B) such Transfer shall not result in a change of the day to day management and operations of the Property, and (C) Borrower shall
give Lender notice of such Transfer together with copies of all instruments effecting such Transfer at least 30 days prior to the date of such Transfer; or 
 (vii) (A) the issuance of any securities, options, warrants or other interests in TPG or the REIT or any entity owning an interest in the REIT, (B) the sale or pledge of stock in the TPG or the REIT,
provided such stock is listed on the New York Stock Exchange or such other nationally recognized stock exchange, (C) the merger or consolidation of the REIT or (D) the merger or consolidation of the OP, provided that in the case of each of
(C) and (D) above, the surviving entity shall be the REIT and/or the OP, as applicable, and after giving effect to such merger or consolidation, the surviving entity (the REIT or the OP, as applicable) shall continue to own not less than
fifteen percent (15%) of all equity interests (direct or indirect) in Borrower and, in the case of each of (A), (B), (C) and (D) above, the REIT and/or the OP shall continue to Control (in the sense of clause (ii) of the defined
term “Control”) Borrower and the day to day operations of the Property; or 
 (viii) provided that no Default or Event of Default
shall then exist, a Transfer of all limited partnership interests in Borrower and all membership interests in SPE Party to one or more newly formed entities (the “New JV”) owned jointly by TPG/CalSTRS (in an
amount of up to fifty-one percent (51%)) and by the transferee (in an amount of up to forty-nine percent (49%)) (for the purposes of this clause (viii), the “Transferee”) (as more particularly shown on
Schedule 4C attached hereto), provided that: (A) such Transfer shall not result in such Transferee acquiring Control (in the sense of clause (ii) of the defined term “Control”) of Borrower or SPE Party; (B) if such Transfer
results in the Transferee (other than TPG, the REIT, CalSTRS or an Approved Mezzanine Lender) acquiring a 49% interest in the New JV, such Transfer is first approved by Lender in its reasonable discretion; (C) if such Transfer results in the
Transferee (other than TPG, the REIT, CalSTRS or an Approved Mezzanine Lender) acquiring a 20% (or greater) interest in the New JV, Lender shall have approved in its reasonable discretion the Transferee, which approval shall be based upon
Lender’s satisfactory determination as to the reputable character and creditworthiness of the Transferee, as evidenced by credit and background checks performed by Lender and such other financial statements and other information reasonably
requested by Lender, (D) if such Transfer results in the Transferee (other than TPG, the REIT, CalSTRS or an Approved Mezzanine Lender) acquiring a 49% interest in the New JV, Borrower, at its sole cost and expense, shall have delivered (or
caused to be delivered) to Lender and, if such Transfer occurs after a Secondary Market Transaction, the applicable Rating Agencies, a substantive non-consolidation opinion with respect to Borrower in form and substance reasonably satisfactory to
Lender and the applicable Rating Agencies, (E) Borrower shall have reimbursed Lender for all reasonable expenses incurred by it in connection with such Transfer; (F) if such Transfer results in the Transferee (other than TPG, the REIT,
CalSTRS or an Approved Mezzanine Lender) acquiring a 49% interest in the New JV, and if such Transfer occurs after a Secondary Market Transaction, Borrower, at its sole cost and expense, shall have delivered (or caused to be delivered) to Lender and
the applicable Rating 

  

 12 

 Agencies, a Rating Comfort Letter; and (G) if the Other Pledge Agreement is then outstanding, the New JV shall
execute and deliver to the holder of the Other Loan one or more pledge and security agreement(s) in the same form as the Other Pledge Agreement, which creates a security interest in the one hundred percent (100%) ownership direct and indirect
interest of the New JV in Borrower and SPE Party (such that at all times, if the Other Pledge Agreement is then outstanding, the holder of the Other Loan will have a first priority Lien on one hundred percent (100%) of the direct and indirect
ownership interests in Borrower and SPE Party); or 
 (ix) provided that no Default or Event of Default shall then exist, a Transfer of all
limited partnership interests in Borrower and all membership interests in SPE Party to one or more newly formed entities wholly owned by the OP and CalSTRS (for the purposes of this clause (ix), such newly formed entity or entities are referred to
as the “Transferee”) (as more particularly shown on Schedule 4D attached hereto), and from and after the date of such Permitted Transfer described in this clause (ix), all references in the Loan Documents to
“TPG/CalSTRS” shall be deemed to refer to the Transferee, provided that (A) after giving effect to such Transfer, TPG, the REIT, or an Approved Mezzanine Lender shall continue to Control Borrower and the SPE Party (in the sense of
clause (ii) of the defined term “Control”), (B) Borrower, at its sole cost and expense, shall have delivered (or caused to be delivered) to Lender and, if such Transfer occurs after a Secondary Market Transaction, the applicable
Rating Agencies, a substantive non-consolidation opinion with respect to Borrower in form and substance reasonably satisfactory to Lender and the applicable Rating Agencies, (C) Borrower shall have reimbursed Lender for all reasonable expenses
incurred by it in connection with such Transfer, (D) Borrower shall give Lender notice of such Transfer together with copies of all instruments effecting such Transfer not less than ten (10) days prior to such Transfer, (E) if the
Other Pledge Agreement is then outstanding, the Transferee shall execute and deliver to the holder of the Other Loan one or more pledge and security agreement(s) in the same form as the Other Pledge Agreement, which creates a security interest in
the one hundred percent (100%) ownership direct and indirect interest of the Transferee in Borrower and SPE Party (such that at all times, if the Other Pledge Agreement is then outstanding, the holder of the Other Loan will have a first
priority Lien on one hundred percent (100%) of the direct and indirect ownership interests in Borrower and SPE Party), and (F) the Transferee shall assume the obligations of the BMC Space Master Lease Tenant with respect to the BMC Space
Master Lease, and TPG/CalSTRS shall be released from such obligations. 
 Person: any individual, corporation, partnership,
limited liability company, joint venture, estate, trust, unincorporated association, any other person or entity, and any federal, state, county or municipal government or any bureau, department or agency thereof and any fiduciary acting in such
capacity on behalf of any of the foregoing. 
 Plan: (i) an employee benefit or other plan established or maintained by
Borrower or any ERISA Affiliate or to which Borrower or any ERISA Affiliate makes or is obligated to make contributions and (ii) which is subject to Title IV of ERISA or Section 302 of ERISA or Section 412 of the Code. 
 Pledge Agreement: that certain Pledge and Security Agreement of even date herewith made by TPG/CalSTRS for the benefit of Lender, which
creates a security interest in the 100% ownership direct and indirect interest of TPG/CalSTRS in the Other Property Owner. 
  

 13 

 Property: the parcel of real property and Improvements thereon owned by Borrower and
encumbered by the Mortgage; together with all rights pertaining to such real property and Improvements, and all other collateral for the Loan as more particularly described in the Granting Clauses of the Mortgage and referred to therein as the Trust
Property. The Property is known as Buildings 1 and 2 at 2101 CityWest Boulevard, Houston, Texas and includes all parking facilities and structures serving the Property, including those known as Parking Garages 1 and 2. 
 Rating Agency: each of Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“S&P”),
Moody’s Investors Service, Inc. (“Moody’s”), and Fitch, Inc., a division of Fitch Ratings Ltd. (“Fitch”) or any other nationally-recognized statistical rating organization to the extent any
of the foregoing have been engaged by Lender or its designee in connection with or in anticipation of any Secondary Market Transaction. 
 Rating Comfort Letter: a letter issued by each of the applicable Rating Agencies which confirms that the taking of the action referenced to therein will not result in any qualification, withdrawal or downgrading of any
existing ratings of Securities created in a Secondary Market Transaction. 
 REA: that certain Declaration of Easements and
Restrictive Covenants dated as of June 14, 2006 by BMC Software Texas, L.P., a Texas limited partnership. 
 Release Date:
the earlier to occur of (i) the thirty sixth (36th) Payment Date of the Term and (ii) the date that
is two (2) years from the “startup day” (within the meaning of Section 860G(a)(9) of the Code) of the REMIC Trust established in connection with the final Secondary Market Transaction involving this Loan. 
 REIT: the resulting real estate investment trust from and after the conversion of TPG into a real estate investment trust pursuant to
clause (vi) of the definition of “Permitted Transfer” above. 
 REMIC Trust: a “real estate mortgage
investment conduit” within the meaning of Section 860D of the Code that holds the Note. 
 Rents: all rents, rent
equivalents, moneys payable as damages (including payments by reason of the rejection of a Lease in a Bankruptcy Proceeding) or in lieu of rent or rent equivalents, royalties (including all oil and gas or other mineral royalties and bonuses),
income, fees, receivables, receipts, revenues (including parking revenue), deposits (including security, utility and other deposits), accounts, cash, issues, profits, charges for services rendered, and other payment and consideration of whatever
form or nature received by or paid to or for the account of or benefit of Borrower, Manager or any of their agents or employees from any and all sources arising from or attributable to the Property and the Improvements, including all receivables,
customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of the Property or
rendering of services by Borrower, Manager or any of their agents or employees and proceeds, if any, from business interruption or other loss of income insurance. 
  

 14 

 Scheduled Defeasance Payments: the Monthly Debt Service Payment Amount and/or Monthly
Interest Payment Amount, as the case may be, required under the Note for all Payment Dates occurring after the Defeasance Date through the Permitted Prepayment Date (including payment of the outstanding Principal balance on the Note on the Permitted
Prepayment Date). 
 Security Agreement: a security agreement in form and substance that would be satisfactory to Lender (in
Lender’s sole but good faith discretion) pursuant to which Borrower grants Lender a perfected, first priority security interest in the Defeasance Collateral Account and the Defeasance Collateral. 
 Servicer: a servicer selected by Lender to service the Loan, including any “master servicer” or “special servicer”
appointed under the terms of any pooling and servicing agreement or similar agreement entered into as a result of a Secondary Market Transaction. 
 SPE Party: TPG-2101 CityWest 1 & 2 GP, LLC, a Delaware limited liability company. 
 State: the
state in which the Property is located. 
 Stated Maturity Date: July 6, 2016, as such date may be changed in accordance
with Section 2.2.4 hereof. 
 Survey: ALTA/ACSM Land Title Survey by Prejean & Company, Inc., issued under
Job. No. 157-7 and 157-7-1, last updated June 12, 2006. 
 Taxes: all real estate and personal property taxes,
assessments, water rates or sewer rents, maintenance charges, impositions, vault charges and license fees, now or hereafter levied or assessed or imposed against all or part of the Property. 
 Term: the entire term of this Agreement, which shall expire upon repayment in full of the Debt and full performance of each and every
obligation to be performed by Borrower pursuant to the Loan Documents. 
 Title Insurance Policy: the ALTA mortgagee title
insurance policy in the form acceptable to Lender issued with respect to the Property and insuring the Lien of the Mortgage. 
 TPG: Thomas Properties Group, Inc., a Delaware corporation. 
 “TPG/CalSTRS: TPG/CalSTRS, LLC, a
Delaware limited liability company. 
 Transfer: (i) any sale, conveyance, transfer, Lease or assignment, or the entry
into any agreement to sell, convey, transfer, lease or assign, whether by law or otherwise, of, on, in or affecting (x) all or part of the Property (including any legal or beneficial direct or indirect interest therein), (y) any direct or
indirect interest in Borrower (including any profit interest), or (z) any direct or indirect interest in the SPE Party or (ii) any change of Control of Borrower or the SPE Party. For purposes hereof, (i) a Transfer of an interest in
Borrower or the SPE Party shall be deemed to include (A) if Borrower or the SPE Party or controlling shareholder of 

  

 15 

 Borrower or the SPE Party is a corporation, the voluntary or involuntary sale, conveyance or transfer of such
corporation’s stock (or the stock of any corporation directly or indirectly controlling such corporation by operation of law or otherwise) or the creation or issuance of new stock in one or a series of transactions by which an aggregate of more
than ten percent (10%) of such corporation’s stock shall be vested in a party or parties who are not now stockholders or any change in the control of such corporation and (B) if Borrower, the SPE Party or controlling shareholder of
Borrower or the SPE Party is a limited or general partnership, joint venture or limited liability company, the change, removal, resignation or addition of a general partner, managing partner, limited partner, joint venturer or member or the transfer
of the partnership interest of any general partner, managing partner or limited partner or the transfer of the interest of any joint venturer or member and (ii) a change of Control of Borrower or the SPE Party shall be deemed to have occurred
if (A) there is any change in the identity of any individual or entity or any group of individuals or entities who have the right, by virtue of any partnership agreement, articles of incorporation, by-laws, articles of organization, operating
agreement or any other agreement, with or without taking any formative action, to cause Borrower (or the SPE Party) to take some action or to prevent, restrict or impede Borrower (or the SPE Party) from taking some action which, in either case,
Borrower (or the SPE Party) could take or could refrain from taking were it not for the rights of such individuals or (B) the individual or entity or group of individuals or entities that Control Borrower (and the SPE Party) as described in
clause (A) ever cease to own at least fifteen percent (15%) of all equity interests (direct or indirect) in Borrower (and the SPE Party). 
 UCC: the Uniform Commercial Code as in effect in the State or the state in which any of the Cash Management Accounts are located, as the case may be. 
 U.S. Obligations: (i) direct full faith and credit obligations of (or guaranteed as to timely payment by) the United States of America
(or any agency or instrumentality of the United States of America, to the extent acceptable by the applicable Rating Agencies), or the obligations of which are backed by the full faith and credit of the United States of America, in each case that
are not subject to prepayment, call or early redemption, or (ii) obligations that are “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, or (iii) to the extent
acceptable to the applicable Rating Agencies, other non-callable government securities satisfying the REMIC Provisions (hereinafter defined), in each case to the extent such obligations are not subject to prepayment, call or early redemption. As
used herein, “REMIC Provisions” mean provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections 860A through 860G of Subchapter M of Chapter 1 of Subtitle A of the
Code, and related provisions, and temporary and final regulations and, to the extent not inconsistent with such temporary and final regulations, proposed regulations, and published rulings, notices and announcements promulgated thereunder, as the
foregoing may be in effect from time to time. 
 Welfare Plan: an employee welfare benefit plan, as defined in
Section 3(1) of ERISA. 
 Yield Maintenance Premium: an amount which, when added to the outstanding Principal, would be
sufficient to purchase U.S. Obligations which provide payments (a) on or prior to, but as close as possible to, all successive scheduled payment dates under this Agreement 
  

 16 

 through the Stated Maturity Date and (b) in amounts equal to the Monthly Debt Service Payment Amount and/or Monthly
Interest Payment Amount, as the case may be, required under this Agreement for all successive scheduled payment dates under this Agreement through the Stated Maturity Date together with the outstanding principal balance of the Note as of the Stated
Maturity Date assuming all such Monthly Debt Service Payment Amounts and/or Monthly Interest Payment Amounts, as the case may be, are made (including any servicing costs associated therewith). In no event shall the Yield Maintenance Premium be less
than zero. 
 1.2 Index of Other Definitions. The following terms are defined in the sections or Loan Documents indicated
below: 
 “Annual Budget “ - 6.3.5 
 “Applicable Taxes” - 2.2.3 
 “Approved Annual Budget “  -  6.3.5 
 “Approved Capital Budget”  -  6.3.5 
 “Approved Engineer”  -  5.4.3 
 “Approved Operating Budget”  -  6.3.5

 “Assignment of Leases”  -  1.1 (Definition of Loan Documents) 
 “Award”  -  7.3.2 
 “Bankruptcy
Proceeding”  -  4.7 
 “BMC Space Master Lease”  -  5.10.5 
 “BMC Space Master Lease Space”  -  5.10.5 
 “BMC Space Master Lease Tenant”  -  5.10.5 
 “Borrower’s Recourse
Liabilities”  -  10.1 
 “Capital Reserve Subaccount”  -  3.4 
 “Cash Collateral Subaccount”  -  3.9 
 “Cash Management Accounts”  -  3.10 
 “Casualty”  -  7.2.1 
 “Casualty/Condemnation Prepayment”  -  2.3.2 
 “Casualty/Condemnation Subaccount”  -  3.7 
 “Clearing Account”  -  3.1

 “Clearing Account Agreement”  -  1.1 (Definition of Loan Documents) 
 “Clearing Bank”  -  3.1 
 “Condemnation”  -  7.3.1 
 “Defeasance Collateral Account”  -  2.3.3

 “Defeasance Event”  -  2.3.3 
 “Defeasance Date”  -  2.3.3 
 “Deposit Account”  -  3.1 
 “Deposit Account Agreement”  -  1.1 (Definition of Loan Documents) 
 “Disclosure Document”  -  9.1.2 
 “DSCR Cash Management
Period”  -  1.1 (Definition of Cash Management Period). 
 “Easements”  -  4.14 

“Endorsement”  -  5.26 
 “Environmental Laws”  -  4.21 
 “Equipment”  -  Mortgage 
 “Event of Default”  -  8.1 
 “Exchange Act”  -  9.1.2 
  

 17 

 “Fitch”  -  1.1 (Definition of Rating Agency)

 “GCM Group”  -  9.1.3 
 “Government Lists”  -  5.31 
 “Hazardous Substances”  -   4.21 
 “Improvements”  -  Mortgage 
 “Indemnified Liabilities”  -  5.30 
 “Indemnified Party”  -  5.30 
 “Independent Director”  -  Schedule 5 
 “Insurance Premiums”  -  7.1.2 
 “Insured Casualty”  -  7.2.2 
 “Intercreditor Agreement”  -  1.1 (Definition of Approved Mezzanine Loan) 
 “Issuer”  -  9.1.3 
 “Late Payment Charge”  -  2.5.3 
 “Lender’s Consultant”  -  5.8.1 
 “Liabilities”  -  9.1.3 
 “Licenses”  -  4.11 
 “Loan”  -  2.1 
 “Minimum PSF Rent and Recoveries”  -  5.10.5 
 “Monthly Debt Service Payment Amount”  -  2.2.1 
 “Monthly Interest Payment Amount”  -  2.2.1 
 “Moody’s”  -  1.1 (Definition of Rating Agency) 
 “Mortgage”  -  1.1 (Definition of Loan Documents) 
 “New ML Lease”  -  5.10.5 
 “New ML Tenant”  -  5.10.5 
 “New Payment Date”  -  2.2.4 
 “Note”  -  1.1 (Definition of Loan Documents) 
 “Notice”  -  6.1 
 “O & M Program”  -  5.8.3 
 “OFAC”  -  5.31 
 “Operating Expense Subaccount”  -  3.6 
 “Parking Garage”  -  5.4.3 
 “Parking Garage Work”  -  5.4.3 
 “Patriot Act”  -  5.31 
 “Patriot Act Offense”  -  5.31 
 “Permitted Indebtedness”  -  5.22 
 “Permitted Investments”  -  Deposit Account Agreement 
 “Permitted Prepayment Date”  -  2.3.4 
 “Policies”  -  7.1.2 
 “Principal”  -  2.1 
 “Proceeds”  -  7.2.2 
 “Proposed Material Lease”  -  5.10.2 
 “Provided Information”  -  9.1.1 
 “Qualified Carrier”  -  7.1.1 
 “Registration Statement”  -  9.1.3 
 “Remedial Work”  -  5.8.2 
 “REMIC Provisions”  -  1.1 (Definition of U.S. Obligations) 
  

 18 

 “Rent Roll”  -  4.16 
 “Required Records”  -  6.3.6 
 “Restoration”  -  7.4.1 
 “Rollover Letter of Credit”  -  3.5.2 
 “Rollover Reserve Subaccount”  -  3.5 
 “S&P”  -  1.1 (Definition of Rating Agency) 
 “Secondary Market Transaction”  -  9.1.1 
 “Securities”  -  9.1.1 
 “Securities Act”  -  9.1.2 
 “Securitization”  -  9.1.1 
 “Security Deposit Account”  -  3.8 
 “Security Deposit Subaccount”  -  3.8 
 “Significant Casualty”  -  7.2.2 
 “Special Purpose Bankruptcy Remote Entity”  -  5.13 
 “Springing Recourse Event”  -  10.1 
 “Subaccounts”  -  3.1 
 “Successor Borrower”  -  2.3.3 
 “Tax and Insurance Subaccount”  -  3.3 
 “Toxic Mold”  -  4.21 
 “Transfer and Assumption”  -  5.26 
 “Transferee Borrower”  -  5.26 
 “Underwriter Group”  -  9.1.3 
 “Underwriters”  -  9.1.3 
 1.3 Principles of Construction. Unless otherwise specified, (i) all references to sections and schedules are to those in this
Agreement, (ii) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision, (iii) all definitions are equally applicable to
the singular and plural forms of the terms defined, (iv) the word “including” means “including but not limited to,” and (v) accounting terms not specifically defined herein shall be construed in accordance with GAAP.

 2. GENERAL LOAN TERMS 
 2.1
The Loan. Lender is making a loan (the “Loan”) to Borrower on the date hereof, in the original principal amount (the “Principal”) of $121,000,000, which shall mature on the Stated Maturity
Date. Borrower acknowledges receipt of the Loan, the proceeds of which are being and shall be used to (i) acquire the Property, (ii) fund certain of the Subaccounts, and (iii) pay transaction costs. Any excess proceeds may be used for
any lawful purpose. No amount repaid in respect of the Loan may be reborrowed. 
 2.2 Interest; Monthly Payments. 

2.2.1 Generally. From and after the date hereof, interest on the unpaid Principal shall accrue at the Interest Rate and be payable as
hereinafter provided. On the date hereof, Borrower shall pay interest on the unpaid Principal from the date hereof through and including July 5, 2006. On August 6, 2006 and each Payment Date thereafter through and 

  

 19 

 including the Payment Date immediately preceding the Amortization Commencement Date, Borrower shall pay interest only on
the unpaid Principal accrued at the Interest Rate during the Interest Period immediately preceding such Payment Date (the “Monthly Interest Payment Amount”). On the Amortization Commencement Date and each Payment Date
thereafter through and including June 6, 2016, the Principal and interest thereon at the Interest Rate shall be payable in equal monthly installments of $737,557.81 (the “Monthly Debt Service Payment Amount”);
which is based on the Interest Rate and a 360-month amortization schedule; provided, however, in the event that Borrower prepays a portion of the Loan in accordance with Section 2.3.4(b), and the Interest Rate is thereby reduced to 5.805% (as
set forth in Section 2.3.4(b)), then the Monthly Debt Service Payment Amount shall accordingly be reduced to $363,984.32. The Monthly Debt Service Payment Amount due on any Payment Date shall first be applied to the payment of interest
accrued during the preceding Interest Period and the remainder of such Monthly Debt Service Payment Amount shall be applied to the reduction of the unpaid Principal. All accrued and unpaid interest shall be due and payable on the Maturity Date. If
the Loan is repaid on any date other than on a Payment Date (whether prior to or after the Stated Maturity Date), Borrower shall also pay interest that would have accrued on such repaid Principal to but not including the next Payment Date.

 2.2.2 Default Rate. After the occurrence and during the continuance of an Event of Default, the entire unpaid Debt shall
bear interest at the Default Rate, and shall be payable upon demand from time to time, to the extent permitted by applicable law. 
 2.2.3 Taxes. Any and all payments by Borrower hereunder and under the other Loan Documents shall be made free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, charges or
withholdings, and all liabilities with respect thereto, excluding taxes imposed on Lender’s income, and franchise taxes imposed on Lender by the law or regulation of any Governmental Authority (all such non-excluded taxes, levies, imposts,
deductions, charges, withholdings and liabilities being hereinafter referred to in this Section 2.2.3 as “Applicable Taxes”). If Borrower shall be required by law to deduct any Applicable Taxes from or in respect
of any sum payable hereunder to Lender, the following shall apply: (i) the sum payable shall be increased as may be necessary so that after making all required deductions (including deductions applicable to additional sums payable under this
Section 2.2.3), Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) Borrower shall make such deductions and (iii) Borrower shall pay the full amount deducted to the relevant
taxation authority or other authority in accordance with applicable law. Payments pursuant to this Section 2.2.3 shall be made within ten (10) days after the date Lender makes written demand therefor. 
 2.2.4 New Payment Date. Lender shall have the right, to be exercised not more than once during the term of the Loan, to change the Payment
Date to a date later than the sixth day of each month (a “New Payment Date”), on thirty (30) days’ written notice to Borrower; provided, however, that any such change in the Payment Date: (i) shall not modify
the amount of regularly scheduled monthly interest and principal (if applicable) payments, except that the first payment of interest and principal (if applicable) payable on the New Payment Date shall be accompanied by interest at the interest rate
herein provided for the period from the Payment Date in the month in which the New Payment Date first occurs to the New Payment Date, (ii) shall change the Stated Maturity Date to the New Payment Date occurring in the month set forth in the

  

 20 

 definition of Stated Maturity Date; and (iii) shall extend the Amortization Commencement Date to the New Payment
Date occurring in the month set forth in the definition of Amortization Commencement Date. 
 2.3 Loan Repayment. 

2.3.1 Repayment. Borrower shall repay the entire outstanding principal balance of the Note in full on the Maturity Date, together with
interest thereon to (but excluding) the date of repayment and any other amounts due and owing under the Loan Documents. Borrower shall have no right to prepay or defease all or any portion of the Principal except in accordance with
Section 2.3.2 below, Section 2.3.3 below and Section 2.4 below. Except during the continuance of an Event of Default, all proceeds of any repayment, including any prepayments of the Loan, shall be applied by
Lender as follows in the following order of priority: First, accrued and unpaid interest at the Interest Rate; Second, to Principal; and Third, to and any other amounts then due and owing under the Loan Documents. If prior to
the Stated Maturity Date the Debt is accelerated by reason of an Event of Default, then Lender shall be entitled to receive, in addition to the unpaid Principal and accrued interest and other sums due under the Loan Documents, an amount equal to the
Yield Maintenance Premium applicable to such Principal so accelerated. During the continuance of an Event of Default, all proceeds of repayment, including any payment or recovery on the Property (whether through foreclosure, deed-in-lieu of
foreclosure, or otherwise) shall, unless otherwise provided in the Loan Documents, be applied in such order and in such manner as Lender shall elect in Lender’s discretion. 
 2.3.2 Mandatory Prepayments. The Loan is subject to mandatory prepayment in certain instances of Insured Casualty or Condemnation (each a
“Casualty/Condemnation Prepayment”), in the manner and to the extent set forth in Section 7.4.2 hereof. Each Casualty/Condemnation Prepayment, after deducting Lender’s costs and expenses (including reasonable
attorneys’ fees and expenses) in connection with the settlement or collection of the Proceeds or Award, shall be applied in the same manner as repayments under Section 2.3.1 above, and if such Casualty/Condemnation Payment is made
on any date other than a Payment Date, then such Casualty/Condemnation Payment shall include interest that would have accrued on the Principal prepaid to but not including the next Payment Date. Provided that no Event of Default is continuing, any
such mandatory prepayment under this Section 2.3.2 shall be without the payment of the Yield Maintenance Premium. Notwithstanding anything to the contrary contained herein, each Casualty/Condemnation Prepayment shall be applied in
inverse order of maturity and shall not extend or postpone the due dates of the monthly installments due under the Note or this Agreement, or change the amounts of such installments. 
 2.3.3 Defeasance 
 (a)
Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower shall have the right on any Payment Date after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of
the Principal and obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “Defeasance Event”), subject to the satisfaction of the following conditions precedent: 
  

 21 

 (i) Borrower shall give Lender not less than thirty (30) days prior written notice specifying a
Payment Date (the “Defeasance Date”) on which the Defeasance Event is to occur. 
 (ii) Borrower shall pay to Lender
(A) all payments of Principal and interest due on the Loan to and including the Defeasance Date and (B) all other sums, then due under the Note, this Agreement and the other Loan Documents; 
 (iii) Borrower shall deposit the Defeasance Collateral into the Defeasance Collateral Account and otherwise comply with the provisions of subsections
(b) and (c) of this Section 2.3.3; 
 (iv) Borrower shall execute and deliver to Lender a Security Agreement in
respect of the Defeasance Collateral Account and the Defeasance Collateral; 
 (v) Borrower shall deliver to Lender an opinion of counsel
for Borrower that is standard in commercial lending transactions and subject only to customary qualifications, assumptions and exceptions opining, among other things, that (i) Lender has a legal and valid perfected first priority security
interest in the Defeasance Collateral Account and the Defeasance Collateral, (ii) if a Securitization has occurred, the REMIC Trust formed pursuant to such Securitization will not fail to maintain its status as a “real estate mortgage
investment conduit” within the meaning of Section 860D of the Code as a result of a Defeasance Event pursuant to this Section 2.3.3, (iii) the Defeasance Event will not result in a significant modification and will not be
an exchange of the Note for purposes of Section 1001 of the Code and the Treasury Regulations thereunder, (iv) delivery of the Defeasance Collateral and the grant of a security interest therein to Lender shall not constitute a voidable
preference under Section 547 of the Bankruptcy Code or applicable state law and (v) a non-consolidation opinion with respect to the Successor Borrower; 
 (vi) if required by any Rating Agency, Borrower shall deliver to Lender and the Rating Agencies a Rating Comfort Letter as to the Defeasance Event; 
 (vii) Borrower shall deliver an Officer’s Certificate certifying that the requirements set forth in this Section 2.3.3 have been
satisfied; 
 (viii) Borrower shall deliver a certificate of a nationally recognized public accounting firm acceptable to Lender certifying
that (A) the Defeasance Collateral will generate monthly amounts equal to or greater than the Scheduled Defeasance Payments, (B) the revenue from the Defeasance Collateral will be applied within four (4) months of receipt towards
payments of Debt Service, (C) the securities that comprise the Defeasance Collateral are not subject to prepayment, call or early redemption and (D) the interest income to Borrower (or the Successor Borrower, if applicable) from the
Defeasance Collateral will not in any tax year exceed the interest expense associated with the defeased Loan; 
 (ix) Borrower shall deliver
such other certificates, opinions, documents and instruments as Lender may reasonably request; 
  

 22 

 (x) Borrower shall pay all costs and expenses of Lender incurred in connection with the Defeasance
Event, including Lender’s reasonable attorneys’ fees and expenses and Rating Agency fees and expenses; and 
 (xi) All conditions
with respect to the defeasance of the Approved Mezzanine Loan, if any (as set forth in the Approved Mezzanine Loan Documents) shall have been satisfied. 
 (b) Defeasance Collateral Account. On or before the date on which Borrower delivers the Defeasance Collateral, Borrower shall open at any Eligible Institution the defeasance collateral account (the
“Defeasance Collateral Account”) which shall at all times be an Eligible Account. The Defeasance Collateral Account shall contain only (i) Defeasance Collateral, and (ii) cash from interest and principal paid on the
Defeasance Collateral. All cash from interest and principal payments paid on the Defeasance Collateral shall be paid over to Lender on each Payment Date and applied first to accrued and unpaid interest and then to Principal. Any cash from interest
and principal paid on the Defeasance Collateral not needed to pay accrued and unpaid interest or Principal shall be retained in the Defeasance Collateral Account as additional collateral for the Loan. Borrower shall cause the Eligible Institution at
which the Defeasance Collateral is deposited to enter an agreement with Borrower and Lender, satisfactory to Lender in its sole discretion, pursuant to which such Eligible Institution shall agree to hold and distribute the Defeasance Collateral in
accordance with this Agreement. The Successor Borrower shall be the owner of the Defeasance Collateral Account and shall report all income accrued on Defeasance Collateral for federal, state and local income tax purposes in its income tax return.
Borrower shall prepay all cost and expenses associated with opening and maintaining the Defeasance Collateral Account. Lender shall not in any way be liable by reason of any insufficiency in the Defeasance Collateral Account. 
 (c) Successor Borrower. In connection with a Defeasance Event under this Section 2.3.3, Borrower shall, if required by the
Rating Agencies or if Borrower elects to do so, establish or designate a successor entity (the “Successor Borrower”) which shall be a Special Purpose Bankruptcy Remote Entity and which shall be approved by the Rating
Agencies. Any such Successor Borrower may, at Borrower’s option, be an Affiliate of Borrower unless the Rating Agencies shall require otherwise. Borrower shall transfer and assign all obligations, rights and duties under and to the Defeased
Note, together with the Defeasance Collateral to such Successor Borrower. Such Successor Borrower shall assume the obligations under the Note and the Security Agreement and Borrower shall be relieved of its obligations under such documents. Borrower
shall pay a minimum of $1,000 to any such Successor Borrower as consideration for assuming the obligations under the Note and the Security Agreement. Borrower shall pay all reasonable costs and expenses reasonably incurred by Lender, including
Lender’s reasonable attorney’s fees and expenses, reasonably incurred in connection therewith. 
 2.3.4 Optional
Prepayments. (a) From and after the third Payment Date prior to the Stated Maturity Date (the “Permitted Prepayment Date”), Borrower shall have the right to prepay the Loan in whole (but not in part), provided
that Borrower gives Lender at least fifteen (15) days’ prior written notice thereof. If any such prepayment is not made on a Payment Date, Borrower shall also pay interest that would have accrued on such prepaid Principal to, but not
including, the next Payment Date. Any such prepayment shall be made without payment of the Yield Maintenance Premium. 
  

 23 

 (b) Notwithstanding anything to the contrary contained herein, Borrower shall have the right (in Borrower’s sole and
absolute discretion) at any time prior to September 15, 2006 to prepay a $59,000,000 portion of the Loan (such that, after giving effect to such partial prepayment, the outstanding Principal balance of the Loan will be reduced to $62,000,000),
provided that Borrower gives Lender at least fifteen (15) days’ prior written notice thereof. Any such prepayment shall be made without payment of the Yield Maintenance Premium. Upon such prepayment the Interest Rate shall automatically be
reduced to 5.805%. 
 2.4 Release of Property. 
 2.4.1 Release on Defeasance. If Borrower has elected to defease the Note and the requirements of Section 2.3.3 above and this Section 2.4 have been satisfied, the Property shall be released
from the Lien of the Mortgage and the Defeasance Collateral pledged pursuant to the Security Agreement shall be the sole source of collateral securing the Note. In connection with the release of the Lien, Borrower shall submit to Lender, not less
than thirty (30) days prior to the Defeasance Date (or such shorter time as is acceptable to Lender in its sole discretion), a release of Lien (and related Loan Documents) for execution by Lender. Such release shall be in a form appropriate in
the jurisdiction in which the Property is located and contain standard provisions protecting the rights of the releasing lender. In addition, Borrower shall provide all other documentation Lender reasonably requires to be delivered by Borrower in
connection with such release, together with an Officer’s Certificate certifying that such documentation (i) is in compliance with all Legal Requirements, and (ii) will effect such release in accordance with the terms of this
Agreement. Borrower shall pay all costs, taxes and expenses associated with the release of the Lien of the Mortgage, including Lender’s reasonable attorneys’ fees. 
 2.4.2 Release on Payment in Full. Lender shall, upon the written request and at the expense of Borrower, upon payment in full of the
Debt in accordance herewith, release or, if requested by Borrower, assign to Borrower’s designee (without any representation or warranty by and without any recourse against Lender whatsoever), the Lien of the Loan Documents if not theretofore
released. 
 2.5 Payments and Computations. 
 2.5.1 Making of Payments. Each payment by Borrower shall be made in funds settled through the New York Clearing House Interbank Payments System or other funds immediately available to Lender by 3:00
p.m., New York City time, on the date such payment is due, to Lender by deposit to such account as Lender may designate by written notice to Borrower. Whenever any such payment shall be stated to be due on a day that is not a Business Day, such
payment shall be made on the first Business Day thereafter. All such payments shall be made irrespective of, and without any deduction, set-off or counterclaim whatsoever and are payable without relief from valuation and appraisement laws and with
all costs and charges incurred in the collection or enforcement thereof, including attorneys’ fees and court costs. 
  

 24 

 2.5.2 Computations. Interest payable under the Loan Documents shall be computed on the
basis of the actual number of days elapsed over a 360-day year. 
 2.5.3 Late Payment Charge. If any Principal, interest or
other sum due under any Loan Document is not paid by Borrower on the date on which it is due (other than the balloon payment of Principal due on the Maturity Date or acceleration of the Loan), Borrower shall pay to Lender upon demand an amount equal
to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by applicable law (the “Late Payment Charge”), in order to defray the expense incurred by Lender in handling and processing such
delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Such amount shall be secured by the Loan Documents. Provided no Event of Default is then continuing, no Late Payment Charge shall apply if adequate funds
are available in the Deposit Account for any such Principal, interest or other sums due under any Loan Document and the Deposit Bank fails to allocate such funds in accordance with the Loan Documents. 
 3. CASH MANAGEMENT AND RESERVES 
 3.1
Cash Management Arrangements. Borrower shall cause all Rents to be transmitted directly by non-residential tenants of the Property into an Eligible Account (the “Clearing Account”) maintained by Borrower at a bank
selected by Borrower, which shall at all times be an Eligible Institution (the “Clearing Bank”) as more fully described in the Clearing Account Agreement. Without in any way limiting the foregoing, all Rents received by
Borrower or Manager shall be deposited into the Clearing Account within three (3) Business Days of receipt. Funds deposited into the Clearing Account shall be swept by the Clearing Bank on a weekly basis into Borrower’s operating account
at the Clearing Bank, unless a Cash Management Period is continuing, in which event such funds shall be swept on a daily basis into an Eligible Account at the Deposit Bank controlled by Lender (the “Deposit Account”) and
applied and disbursed in accordance with this Agreement. Funds in the Deposit Account shall be invested at Borrower’s discretion only in Permitted Investments. Lender will also establish subaccounts of the Deposit Account which shall at all
times be Eligible Accounts (and may be ledger or book entry accounts and not actual accounts) (such subaccounts are referred to herein as “Subaccounts”). The Deposit Account and any Subaccount will be under the sole control
and dominion of Lender, and Borrower shall have no right of withdrawal therefrom. Borrower shall pay for all expenses of opening and maintaining all of the above accounts. 
 3.2 Intentionally Omitted. 
 3.3 Taxes and Insurance. (a) Borrower shall pay to Lender on each Payment Date (i) one-twelfth (1/12th) of the Taxes that Lender reasonably estimates will be payable during the next twelve (12) months in order to accumulate with Lender sufficient funds to pay all such Taxes at least thirty (30) days prior to
their respective due dates and (ii) one-twelfth (1/12th) of the Insurance Premiums that Lender estimates
will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof in order to accumulate with Lender sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the
Policies. Such amounts will be transferred by Lender to a Subaccount (the “Tax and Insurance Subaccount”). Lender will (a) apply funds in the Tax and Insurance Subaccount to payments of Taxes and Insurance Premiums
required to be made by Borrower pursuant to Section 5.2 hereof 
  

 25 

 and Section 7.1 hereof, provided that Borrower has promptly supplied Lender with notices of all Taxes and
Insurance Premiums due, or (b) reimburse Borrower for such amounts upon presentation of evidence of payment; subject, however, to Borrower’s right to contest Taxes in accordance with Section 5.2 hereof. In making any payment
relating to Taxes and Insurance Premiums, Lender may do so according to any bill, statement or estimate procured from the appropriate public office (with respect to Taxes) or insurer or agent (with respect to Insurance Premiums), without inquiry
into the accuracy of such bill, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof. If Lender determines in its reasonable judgment that the funds in the Tax and Insurance
Subaccount will be insufficient to pay (or in excess of) the Taxes or Insurance Premiums next coming due, Lender may increase (or decrease) the monthly contribution required to be made by Borrower to the Tax and Insurance Subaccount. 
 (b) Notwithstanding anything to the contrary contained herein, it is understood and agreed that for so long as Building 1 (which is part of the Property) and Building 4
(which is part of the Other Property) share part of the same tax lot, the amount to be paid pursuant to clause (i) of subsection (a) above (with respect to Building 1) shall be calculated based on the entirety of such tax lot (inclusive of
Building 4); provided, that once Borrower provides evidence to Lender that Building 1 and Building 4 no longer share a single tax lot, Lender shall promptly return to Borrower any excess amounts then on deposit in the Tax and Insurance Subaccount
that have been deposited therein on account of Building 4. 
 3.4 Capital Expense Reserves. (a) Subject to the provisions
of subsection (b) below, Borrower shall pay to Lender on each Payment Date an amount initially equal to one-twelfth (1/12th) of the product obtained by multiplying $0.20 by the aggregate number of rentable square feet of space in the Property. Lender will transfer such amounts into a Subaccount (the “Capital Reserve
Subaccount”). Additionally, upon thirty (30) days’ prior notice to Borrower, Lender may reassess the amount of the monthly payment required under this Section 3.4 not more than once every six (6) months (based
upon its then current underwriting standards); provided, however that Lender shall only increase the amount of such monthly contributions if Lender reasonably determines that such increase is necessary to address unanticipated material
changes after the date hereof in the anticipated Capital Expenses for the Property (in which event such reassessment shall be limited to address only such issues). Provided that no Default or Event of Default has occurred and is continuing, Lender
shall disburse funds held in the Capital Reserve Subaccount to Borrower, within ten (10) days after the delivery by Borrower to Lender of a request therefor (but not more often than once per month), in increments of at least $5,000 provided
that (i) such disbursement is for an Approved Capital Expense; (ii) Lender shall have (if it desires) verified (by an inspection conducted at Borrower’s expense) performance of the work associated with such Approved Capital Expense;
and (iii) the request for disbursement is accompanied by (A) an Officer’s Certificate certifying (1) that such funds will be used to pay or reimburse Borrower for Approved Capital Expenses and a description thereof, (2) that
all outstanding trade payables (other than those to be paid from the requested disbursement or those constituting Permitted Indebtedness) have been paid in full, (3) that the same has not been the subject of a previous disbursement, and
(4) that all previous disbursements have been used to pay the previously identified Approved Capital Expenses, and (B) lien waivers or other evidence of payment satisfactory to Lender, (C) at Lender’s option, with respect to
disbursements in excess of $100,000, a title search for the Property indicating that the Property is free from all Liens, 
  

 26 

 claims and other encumbrances not previously approved by Lender and (D) such other evidence as Lender shall
reasonably request that the Approved Capital Expenses at the Property to be funded by the requested disbursement have been completed and are paid for or will be paid upon such disbursement to Borrower. Any such disbursement of more than $10,000 to
pay (rather than reimburse) Approved Capital Expenses may, at Lender’s option, be made by joint check payable to Borrower and the payee on such Approved Capital Expenses. 
 (b) Notwithstanding anything to the contrary contained in subsection (a) above, Borrower shall not be required to make any payments into the Capital Reserve Subaccount pursuant to subsection (a) above at any
time that an Event of Default has not occurred and is continuing. 
 3.5 Rollover Reserves 
 3.5.1 General 
 (a)
Borrower shall pay to Lender $512,097.10 (the “Initial Rollover Deposit”), and Lender will transfer such amount into a Subaccount (the “Rollover Reserve Subaccount”). On each Payment Date occurring
during the continuance of a Lease Sweep Period (provided no Cash Management Period is then continuing (other than a Cash Management Period triggered solely as a result of a Lease Sweep Period)), all Available Cash shall be paid to Lender, and Lender
will transfer such amount into the Rollover Reserve Subaccount. Borrower shall also pay to Lender for transfer into the Rollover Reserve Subaccount all Lease Termination Payments received by Borrower. Provided that no Default or Event of Default has
occurred and is continuing, Lender shall disburse funds held in the Rollover Reserve Subaccount to Borrower, within ten (10) days after the delivery by Borrower to Lender of a request therefor (but not more often than once per month), in
increments of at least $5,000, provided (i) such disbursement is for an Approved Major Lease Leasing Expense (or any other Approved Leasing Expense if the funds in question are comprised of Lease Termination Payments that have been deposited
into the Rollover Reserve Subaccount on account of any other Lease); (ii) Lender shall have (if it desires) verified (by an inspection conducted at Borrower’s expense) performance of any construction work associated with such Approved
Major Lease Leasing Expense (or any other Approved Leasing Expense if the funds in question are comprised of Lease Termination Payments that have been deposited into the Rollover Reserve Subaccount on account of any other Lease); and (iii) the
request for disbursement is accompanied by (A) an Officer’s Certificate certifying (1) that such funds will be used only to pay (or reimburse Borrower for) Approved Major Lease Leasing Expenses (or any other Approved Leasing Expense
if the funds in question are comprised of Lease Termination Payments that have been deposited into the Rollover Reserve Subaccount on account of any other Lease) and a description thereof, (2) that all outstanding trade payables (other than
those to be paid from the requested disbursement or those constituting Permitted Indebtedness) have been paid in full, (3) that the same has not been the subject of a previous disbursement, and (4) that all previous disbursements have been
used only to pay (or reimburse Borrower for) the previously identified Approved Major Lease Leasing Expenses (or any other Approved Leasing Expense if the funds in question are comprised of Lease Termination Payments that have been deposited into
the Rollover Reserve Subaccount on account of any other Lease), and (B) reasonably detailed supporting documentation as to the amount, necessity and purpose therefor. Any such disbursement of more than $10,000 to pay (rather than reimburse)
Approved Leasing Expenses may, at Lender’s option, be made by joint 
  

 27 

 check payable to Borrower and the payee of such Approved Major Lease Leasing Expenses (or any other Approved Leasing
Expense if the funds in question are comprised of Lease Termination Payments that have been deposited into the Rollover Reserve Subaccount on account of any other Lease). Provided no Event of Default is continuing, upon the termination of the
subject Lease Sweep Period, and Lender’s receipt of satisfactory evidence that all Approved Major Lease Leasing Expenses incurred in connection therewith (and any other expenses in connection with the re-tenanting of the applicable space) have
been paid in full (which evidence may include (i) a letter or certification from the applicable broker, if any, that all brokerage commissions payable in connection therewith have been paid and (ii) an estoppel certificate executed by each
applicable tenant which certifies that all contingencies under such Lease to the payment of full rent (including Borrower’s contribution to the cost of any tenant improvement work) have been satisfied), any funds (if any) remaining in the
Rollover Reserve Subaccount that have been deposited therein as a result of such Lease Sweep Period shall be disbursed to Borrower; provided, however, if a Cash Management Period is then continuing, then no such funds shall be disbursed to
Borrower, and all such funds shall instead be deposited into the Cash Collateral Subaccount, to be applied in accordance with Section 3.9 hereof. Notwithstanding anything to the contrary contained in this Section 3.5, funds
constituting the Initial Rollover Deposit shall be allocated to pay only Approved Leasing Expenses payable in connection with the Halliburton Leases (in accordance with the terms and conditions set forth in this Section 3.5.1(a)).

 (b) Any Lease Termination Payments and any other funds deposited into the Rollover Reserve Subaccount from the Security Deposit Subaccount
in accordance with Section 3.8 hereof shall be applied, at Lender’s election, towards either (a) subject to the rights of Borrower under the applicable Lease, rent arrearages under such Lease (or to cure any other tenant
default under such Lease), (b) debt service shortfalls that may arise as a result of a termination of such Lease (and Borrower hereby authorizes Lender to disburse to itself any such amounts without any request therefor by Borrower) or
(c) funding any Approved Leasing Expenses (or Approved Major Lease Leasing Expenses, if applicable) which are anticipated to occur in connection with the re-tenanting of the space under the Lease that was the subject of such termination (in
accordance with the terms and conditions of Section 3.5.1(a) above. 
 3.5.2 Rollover Letter of
Credit. Notwithstanding anything to the contrary contained in Section 3.5.1, at Borrower’s option, Borrower may at any time deliver a Letter of Credit to Lender in an amount equal to the applicable Lease Sweep
Rollover Amount (the “Rollover Letter of Credit”), which Rollover Letter of Credit shall be held by Lender subject to and in accordance with the provisions of this Section 3.5.2. Upon delivery by Borrower to Lender of
the Rollover Letter of Credit, any funds that have been deposited into the Rollover Reserve Subaccount on account of the subject Lease Sweep Period shall be promptly returned to Borrower (and the subject Lease Sweep Period shall terminate). If
Borrower fails to timely pay for any Approved Major Lease Leasing Expenses and such failure continues for ten (10) days after written notice from Lender, Lender shall have the right, but not the obligation, to draw on the Rollover Letter of
Credit for purposes of making such payment of Approved Major Lease Leasing Expenses. 
  

 28 

 (b) Borrower may request that the Rollover Letter of Credit be drawn upon in increments of at least
$50,000 for Approved Major Lease Leasing Expenses and, within ten (10) days of the delivery of such request (but not more often than once per month), Lender will transfer the amount of the requested funds for Approved Major Lease Leasing
Expenses into the Rollover Reserve Subaccount, which funds will be disbursed to pay for Approved Major Lease Leasing Expenses in accordance with the terms and conditions set forth in Section 3.5.1. 
 (c) The Rollover Letter of Credit delivered under this Section 3.5.2 shall be held by Lender as additional security for the payment of the Debt.
Upon the occurrence and during the continuance of an Event of Default, Lender shall have the right, at its option, to draw on the Rollover Letter of Credit and to either deposit all or any portion of the proceeds therefrom into the Rollover Reserve
Subaccount (in which event, any such funds shall be disbursed to Borrower with respect to Approved Major Lease Leasing Expenses only upon the satisfaction of the requirements for disbursement set forth in Section 3.5.1), or to apply all or any
portion of such proceeds to payment of the Debt in such order, proportion or priority as Lender may determine. Any such application to the Debt, after an Event of Default which remains uncured shall be subject to the Yield Maintenance Premium. On
the Maturity Date, the Rollover Letter of Credit may be drawn upon by Lender and applied to any unpaid portion of the Debt. 
 (d) In
addition to any other right Lender may have to draw upon the Rollover Letter of Credit pursuant to the terms and conditions of this Agreement, Lender shall have the additional rights to draw in full the Rollover Letter of Credit: (i) if the
Rollover Letter of Credit is an evergreen Letter of Credit, if Lender has received a notice from the issuing bank that the Rollover Letter of Credit will not be renewed and a substitute Rollover Letter of Credit is not provided at least thirty
(30) days prior to the date on which the outstanding Rollover Letter of Credit is scheduled to expire; (ii) if the Rollover Letter of Credit has a stated expiration date, if Lender has not received a notice from the issuing bank that it
has renewed the Rollover Letter of Credit at least thirty (30) days prior to the date on which such Rollover Letter of Credit is scheduled to expire and a substitute Rollover Letter of Credit is not provided at least thirty (30) days prior
to the date on which the outstanding Rollover Letter of Credit is scheduled to expire; (iii) upon receipt of notice from the issuing bank that the Rollover Letter of Credit will be terminated (except if the termination of the Rollover Letter of
Credit is permitted pursuant to the terms of this Agreement or a substitute Rollover Letter of Credit is provided); or (iv) if Lender has received notice that the bank issuing the Rollover Letter of Credit shall cease to be an Approved Bank and
Borrower has not replaced such Rollover Letter of Credit with a Rollover Letter of Credit issued by an Approved Bank within ten (10) Business Days after written notice thereof from Lender to Borrower. Notwithstanding anything to the contrary
contained in the above, Lender is not obligated to draw on the Rollover Letter of Credit upon the happening of an event specified in (i), (ii), (iii) or (iv) above and shall not be liable for any losses sustained by Borrower due to the
insolvency of the bank issuing the Rollover Letter of Credit. 
 (e) Provided no Event of Default is continuing, upon the re-tenanting of all
of the space currently demised under the Major Lease that gave rise to the subject Lease Sweep Period pursuant to one or more replacement Leases approved by Lender and entered into in accordance with Section 5.10 hereof, and
Lender’s receipt of reasonably satisfactory evidence that all Approved Major Lease Leasing Expenses incurred in connection therewith (and any other expenses in connection with the re-tenanting of such space) have been paid in full (which

  

 29 

 evidence may include, (i) a letter or certification from the applicable broker, if any, that all brokerage
commissions payable in connection therewith have been paid and (ii) an estoppel certificate executed by each applicable tenant which certifies that all contingencies under such Lease to the payment of full rent (including Borrower’s
contribution to the cost of any tenant improvement work) have been satisfied), the Rollover Letter of Credit shall be promptly returned to Borrower. Additionally, upon Borrower’s delivery to Lender of evidence of payment of any portion of the
subject Approved Major Lease Leasing Expenses, then Borrower shall be entitled to reduce the face amount of the Letter of Credit by such amount. 
 3.6 Operating Expense Subaccount. During a Cash Management Period, on each Payment Date, a portion of the Rents that have been deposited into the Deposit Account during the immediately preceding Interest Period in an
amount equal to the monthly amount set forth in the Approved Operating Budget for the following month as being necessary for payment of Approved Operating Expenses at the Property for such month, shall be transferred into a Subaccount for the
payment of Approved Operating Expenses (the “Operating Expense Subaccount”). Provided no Default or Event of Default has occurred and is continuing, on each Payment Date, Lender shall disburse to Borrower funds from the
Operating Expense Subaccount in an amount equal to the monthly amount set forth in the Approved Operating Budget for the month in which such Payment Date occurs as being necessary for payment of Approved Operating Expenses at the Property for such
month (plus any other amounts requested by Borrower for such month for payment of items constituting Approved Operating Expenses, which are not included in the Approved Operating Budget), which disbursement shall be made without any requirement for
any Borrower request therefor or any Officer’s Certificate in connection therewith. 
 3.7 Casualty/Condemnation
Subaccount. Borrower shall pay, or cause to be paid, to Lender all Proceeds or Awards due to any Casualty or Condemnation to be transferred to a Subaccount (the “Casualty/Condemnation Subaccount”) in accordance with
the provisions of Article 7 hereof. All amounts in the Casualty/Condemnation Subaccount shall disbursed in accordance with the provisions of Article 7 hereof. 
 3.8 Security Deposits. Borrower shall keep and hold all security deposits under Leases in accordance with applicable Legal Requirements and
at a separately designated account under Borrower’s control at the Clearing Bank (or in another Eligible Account at an Eligible Institution) (and in the case of a letter of credit, assigned with full power of attorney and executed sight drafts
to Lender) so that the security deposits shall not be commingled with any other funds of Borrower (such account, the “Security Deposit Account”). After the occurrence of an Event of Default, Borrower shall, upon Lender’s
request, if permitted by applicable Legal Requirements, turn over to Lender the security deposits (and any interest theretofore earned thereon) under Leases, to be held by Lender in a Subaccount (the “Security Deposit
Subaccount”) subject to the terms of the Leases. After the occurrence of an Event of Default, Borrower shall also deliver to Lender (for deposit into the Security Deposit Subaccount) all amounts drawn under any letters of credit held by
Borrower in lieu of cash security deposits. Security deposits held in the Security Deposit Subaccount will be released by Lender upon notice from Borrower together with such evidence as Lender may reasonably request that such security deposit is
required to be returned to a tenant pursuant to the terms of a Lease. Any funds in the Security Deposit Subaccount which Borrower is permitted to retain pursuant to the applicable 
  

 30 

 provisions of any Lease which has expired or has been terminated, cancelled or surrendered shall be paid to Lender and
transferred by Lender into the Rollover Reserve Subaccount, to be applied and disbursed in accordance with the provisions of Section 3.5 hereof. Any letter of credit or other instrument that Borrower receives in lieu of a cash security
deposit under any Lease entered into after the date hereof shall (i) be maintained in full force and effect in the full amount unless replaced by a cash deposit as hereinabove described and (ii) if permitted pursuant to any Legal
Requirements, name Lender as payee or mortgagee thereunder (or at Lender’s option, be fully assignable to Lender). 
 3.9 Cash
Collateral Subaccount. If a Cash Management Period shall have commenced (other than a Cash Management Period triggered solely as a result of (i) a Lease Sweep Period or (ii) the existence of an Approved Mezzanine Loan), then
on the immediately succeeding Payment Date and on each Payment Date thereafter during the continuance of such Cash Management Period, all Available Cash shall be paid to Lender, which amounts shall be transferred by Lender into a Subaccount (the
“Cash Collateral Subaccount”) as cash collateral for the Debt. Notwithstanding the foregoing, if a Lease Sweep Period has occurred and is then continuing during the continuance of any Cash Management Period (other than a Cash
Management Period triggered solely as a result of a Lease Sweep Period), Lender shall have the right (but not the obligation) to allocate any funds in the Cash Collateral Subaccount to the Rollover Reserve Subaccount to be applied in accordance
with the terms and conditions of Section 3.5.1 hereof. Notwithstanding anything to the contrary contained herein, if Borrower delivers to Lender an Officer’s Certificate (with supporting backup) at least three (3) Business Days
prior to a Payment Date, stating that, as a result of advance payments of Rent by tenants (during any prior Interest Period), there will be a shortfall in the Deposit Account necessary to pay amounts specified in Section 3.11(a)(i) through
(v) on the applicable Payment Date, then a portion of the funds then being held in the Cash Collateral Subaccount (up to the amount represented by such advance rental payments) shall be made available to pay such shortfall (and no Event of
Default shall exist as a result thereof). Any funds in the Cash Collateral Account and not previously disbursed or applied shall be disbursed to Borrower upon the termination of such Cash Management Period. Lender shall have the right, but not the
obligation, at any time during the continuance of an Event of Default, in its sole and absolute discretion to apply all sums then on deposit in the Cash Collateral Subaccount to the Debt, in such order and in such manner as Lender shall elect in its
sole and absolute discretion, including to make a prepayment of Principal (together with the applicable Yield Maintenance Premium applicable thereto). Additionally, Lender shall have the right, but not the obligation, at any time subsequent to the
third Calculation Date following the commencement of a DSCR Cash Management Period (whether or not an Event of Default is then continuing), in its sole and absolute discretion to apply all sums then on deposit in the Cash Collateral Subaccount
towards a partial Defeasance of the Loan (together with any Defeasance costs associated therewith), and Borrower shall execute such documents and take such other actions necessary to satisfy the Defeasance requirements set forth in
Section 2.3.3 hereof. 
 3.10 Grant of Security Interest; Application of Funds. As security for payment of
the Debt and the performance by Borrower of all other terms, conditions and provisions of the Loan Documents, Borrower hereby pledges and assigns to Lender, and grants to Lender a security interest in, all Borrower’s right, title and interest
in and to all Rents and in and to all payments to or monies held in the Clearing Account, the Deposit Account, all Subaccounts 
  

 31 

 created pursuant to this Agreement (collectively, the “Cash Management Accounts”). Borrower
hereby grants to Lender a continuing security interest in, and agrees to hold in trust for the benefit of Lender, all Rents in its possession prior to the (i) payment of such Rents to Lender or (ii) deposit of such Rents into the Deposit
Account. Borrower shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in any Cash Management Account, or permit any Lien to attach thereto, or any levy to be made thereon, or any
UCC Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto. This Agreement is, among other things, intended by the parties to be a security agreement for purposes of the UCC. Upon the occurrence and
during the continuance of an Event of Default, Lender may apply any sums in any Cash Management Account in any order and in any manner as Lender shall elect in Lender’s discretion without seeking the appointment of a receiver and without
adversely affecting the rights of Lender to foreclose the Lien of the Mortgage or exercise its other rights under the Loan Documents. Cash Management Accounts shall not constitute trust funds and may be commingled with other monies held by Lender.
All interest which accrues on the funds in any Cash Management Account (other than the Tax and Insurance Subaccount) shall accrue for the benefit of Borrower and shall be taxable to Borrower and shall be added to and disbursed in the same manner and
under the same conditions as the principal sum on which said interest accrued. Upon repayment in full of the Debt, all remaining funds in the Subaccounts, if any, shall be promptly disbursed to Borrower. 
 3.11 Property Cash Flow Allocation. 
 (a) During any Cash Management Period, all Rents deposited into the Deposit Account during the immediately preceding Interest Period shall be applied on each Payment Date as follows in the following order of priority: 
 (i) First, to make payments into the Tax and Insurance Subaccount as required under Section 3.3 hereof; 
 (ii) Second, to pay the monthly portion of the fees charged by the Deposit Bank in accordance with the Deposit Account Agreement;

 (iii) Third, to Lender to pay the Monthly Debt Service Payment Amount or the Monthly Interest Payment Amount, as the case
may be, due on such Payment Date (plus, if applicable, interest at the Default Rate and all other amounts, other than those described under other clauses of this Section 3.11(a), then due to Lender under the Loan Documents); 

(iv) Fourth, to make payments into the Capital Reserve Subaccount, if and as required under Section 3.4 hereof; 

(v) Fifth, to make payments for Approved Operating Expenses as required under Section 3.6 hereof; 
 (vi) Sixth, during the continuance of a Lease Sweep Period (provided no other Cash Management Period is then continuing), to make payments
in an amount equal to all remaining Available Cash on such Payment Date into the Rollover Reserve Subaccount in accordance with Section 3.5.1 hereof; and 
  

 32 

 (vii) Lastly, (A) during the continuance of a Cash Management Period other than a
Cash Management Period triggered solely as a result of the existence of an Approved Mezzanine Loan, to make payments in an amount equal to all remaining Available Cash on such Payment Date into the Cash Collateral Subaccount in accordance with
Section 3.9 and (B) during a Cash Management Period triggered solely as a result of an Approved Mezzanine Loan, payments to Borrower of any remaining amounts. 
 (b) The failure of Borrower to make all of the payments required under clauses (i) through (iv) of Section 3.11(a) above in full on each Payment Date shall constitute an Event of Default under
this Agreement; provided, however, if adequate funds are available in the Deposit Account for such payments, the failure by the Deposit Bank to allocate such funds into the appropriate Subaccounts shall not constitute an Event of Default. Nothing
herein, however, shall be construed to restrict Borrower from depositing its own funds (other than Rents) into the Deposit Account in order to fund any of the amounts required under clauses (i) through (iv) of Section 3.11(a)
above (to the extent that the Rents previously deposited into the Deposit Account are insufficient for the same). 
 (c) Notwithstanding
anything to the contrary contained in this Section 3.11, after the occurrence and during the continuance of a Default or an Event of Default, Lender may apply all Rents deposited into the Deposit Account and other proceeds of repayment
in such order and in such manner as Lender shall elect. 
 4. REPRESENTATIONS AND WARRANTIES 
 Borrower represents and warrants to Lender as of the date hereof that, except to the extent (if any) disclosed on Schedule 2 hereto with reference to a specific
Section of this Article 4: 
 4.1 Organization; Special Purpose. Each of Borrower and the SPE Party has been duly
organized and is validly existing and in good standing under the laws of the state of its formation, with requisite power and authority, and all rights, licenses, permits and authorizations, governmental or otherwise, necessary to own its properties
and to transact the business in which it is now engaged. Each of Borrower and the SPE Party is duly qualified to transact business and is in good standing in each jurisdiction where it is required to be so qualified in connection with its
properties, business and operations. Each of Borrower and the SPE Party is a Special Purpose Bankruptcy Remote Entity. 
 4.2
Proceedings; Enforceability. Borrower has taken all necessary action to authorize the execution, delivery and performance of the Loan Documents. The Loan Documents have been duly executed and delivered by Borrower and, to Borrower’s
knowledge, constitute legal, valid and binding obligations of Borrower enforceable against Borrower in accordance with their respective terms, subject to applicable bankruptcy, insolvency and similar laws affecting rights of creditors generally, and
general principles of equity. The Loan Documents are not subject to, and Borrower has not asserted, any right of rescission, set-off, counterclaim or defense, including the defense of usury. No exercise of any of the terms of the Loan Documents, or
any right thereunder, will render any Loan Document unenforceable. 
  

 33 

 4.3 No Conflicts. The execution, delivery and performance of the Loan Documents by Borrower
and the transactions contemplated hereby will not conflict with or result in a breach of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any Lien (other than pursuant to the Loan
Documents) upon any of the property of Borrower pursuant to the terms of, any agreement or instrument to which Borrower is a party or by which its property is subject, nor will such action result in any violation of the provisions of any statute or
any order, rule or regulation of any Governmental Authority having jurisdiction over Borrower or any of its properties. Borrower’s rights under the Licenses and the Management Agreement will not be adversely affected by the execution and
delivery of the Loan Documents, Borrower’s performance thereunder, the recordation of the Mortgage, or the exercise of any remedies by Lender. Any consent, approval, authorization, order, registration or qualification of or with any
Governmental Authority required for the execution, delivery and performance by Borrower of the Loan Documents has been obtained and is in full force and effect. 
 4.4 Litigation. There are no actions, suits or other proceedings at law or in equity by or before any Governmental Authority now pending or threatened against or affecting Borrower, the SPE Party, the
Manager or the Property, which, if adversely determined, might materially adversely affect the condition (financial or otherwise) or business of Borrower (including the ability of Borrower to carry out its obligations under the Loan Documents), the
SPE Party, Manager or the use, value, condition or ownership of the Property. 
 4.5 Agreements. Borrower is not a party to any
agreement or instrument or subject to any restriction which might adversely affect Borrower or the Property, or Borrower’s business, properties, operations or condition, financial or otherwise. To Borrower’s knowledge, Borrower is not in
default in any material respect in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any Permitted Encumbrance or any other agreement or instrument to which it is a party or by which it or the
Property is bound. 
 4.6 Title. Borrower has good, marketable and indefeasible title in fee to the real property and good
title to the balance of the Property, free and clear of all Liens except the Permitted Encumbrances. All transfer taxes, deed stamps, intangible taxes or other amounts in the nature of transfer taxes required to be paid by any Person under
applicable Legal Requirements in connection with the transfer of the Property to Borrower have been paid. To Borrower’s knowledge, the Mortgage when properly recorded in the appropriate records, together with any UCC Financing Statements
required to be filed in connection therewith, will create (i) a valid, perfected first priority lien on the Borrower’s interest in the Property and (ii) valid and perfected first priority security interests in and to, and perfected
collateral assignments of, all personalty (including the Leases), all in accordance with the terms thereof, in each case subject only to any applicable Permitted Encumbrances. All mortgage, recording, stamp, intangible or other similar taxes
required to be paid by any Person under applicable Legal Requirements in connection with the execution, delivery, recordation, filing, registration, perfection or enforcement of any of the Loan Documents have been paid. The Permitted Encumbrances do
not materially adversely affect the value, operation or use of the Property, or Borrower’s ability to repay the Loan. No Condemnation or other proceeding has been commenced or, to Borrower’s knowledge, is contemplated with respect to all
or part of the Property or for the relocation of roadways providing access to the Property. To Borrower’s knowledge, there are no claims for payment for work, labor or materials affecting the Property which are or may become a Lien prior to, or
of equal priority with, the Liens created by the Loan Documents. To Borrower’s knowledge, there are no outstanding options to purchase or rights of first refusal affecting all or any portion of the Property. To Borrower’s 
  

 34 

 knowledge, the Survey does not fail to reflect any material matter affecting the Property or the title thereto. To
Borrower’s knowledge, except as disclosed on the Survey, all of the Improvements included in determining the appraised value of the Property lie wholly within the boundaries and building restriction lines of the Property, and no improvement on
an adjoining property encroaches upon the Property, and no easement or other encumbrance upon the Property encroaches upon any of the Improvements, except those insured against by the Title Insurance Policy. Except as described on Schedule 2, each
parcel comprising the Property is a separate tax lot and is not a portion of any other tax lot that is not a part of the Property. There are no pending or proposed special or other assessments for public improvements or otherwise affecting the
Property, or any contemplated improvements to the Property that may result in such special or other assessments. 
 4.7 No Bankruptcy
Filing. Borrower is not contemplating either the filing of a petition by it under any state or federal bankruptcy or insolvency law or the liquidation of all or a major portion of its property (a “Bankruptcy
Proceeding”), and Borrower has no knowledge of any Person contemplating the filing of any such petition against it. In addition, neither Borrower nor the SPE Party nor any principal nor Affiliate of either has been a party to, or the
subject of a Bankruptcy Proceeding for the past seven (7) years. 
 4.8 Full and Accurate Disclosure. No statement of fact
made by Borrower in any Loan Documents contains any untrue statement of a material fact or omits to state any material fact necessary to make statements contained therein not misleading. There is no material fact presently known to Borrower that has
not been disclosed to Lender which adversely affects the Property or the business, operations or condition (financial or otherwise) of Borrower. All financial data, including the statements of cash flow and income and operating expense, that have
been delivered to Lender in respect of Borrower and the Property (i) are true, complete and correct in all material respects, (ii) fairly represent the financial condition of Borrower and the Property as of the date of such reports, and
(iii) to the extent prepared by an independent certified public accounting firm, have been prepared in accordance with GAAP consistently applied throughout the periods covered, except as disclosed therein. Borrower has no contingent
liabilities, liabilities for taxes, unusual forward or long-term commitments, unrealized or anticipated losses from any unfavorable commitments or any liabilities or obligations not expressly permitted by this Agreement. Since the date of such
financial statements, there has been no materially adverse change in the financial condition, operations or business of Borrower or the Property from that set forth in said financial statements. 
 4.9 Tax Filings. To the extent required, Borrower has filed (or has obtained effective extensions for filing) all federal, state and local
tax returns required to be filed and have paid or made adequate provision for the payment of all federal, state and local taxes, charges and assessments payable by Borrower. Borrower believes that its tax returns (if any) properly reflect the income
and taxes of Borrower for the periods covered thereby, subject only to reasonable adjustments required by the Internal Revenue Service or other applicable tax authority upon audit. 
  

 35 

 4.10 ERISA; No Plan Assets. As of the date hereof and throughout the Term (i) Borrower
is not and will not be an “employee benefit plan,” as defined in Section 3(3) of ERISA, (ii) none of the assets of Borrower constitutes or will constitute “plan assets” of one or more such plans within the meaning of 29
C.F.R. Section 2510.3-101, (iii) Borrower is not and will not be a “governmental plan” within the meaning of Section 3(32) of ERISA, and (iv) transactions by or with Borrower are not and will not be subject to (or are
in compliance with) state statutes regulating investment of, and fiduciary obligations with respect to, governmental plans. As of the date hereof, neither Borrower, nor any member of a “controlled group of corporations” (within the meaning
of Section 414 of the Code) maintains, sponsors or contributes to a “defined benefit plan” (within the meaning of Section 3(35) of ERISA) or a “multiemployer pension plan” (within the meaning of Section 3(37)(A) of
ERISA). 
 4.11 Compliance. Borrower and, to Borrower’s knowledge, the Property and the use thereof comply in all material
respects with all applicable Legal Requirements (including with respect to parking and applicable zoning and land use laws, regulations and ordinances). Borrower is not in default or violation of any order, writ, injunction, decree or demand of any
Governmental Authority, the violation of which might materially adversely affect the condition (financial or otherwise) or business of Borrower. The Property is used exclusively for office and other appurtenant and related uses. In the event that
all or any part of the Improvements are destroyed or damaged, said Improvements can be legally reconstructed to their condition prior to such damage or destruction, and thereafter exist for the same use without violating any zoning or other
ordinances applicable thereto and currently in effect and without the necessity of obtaining any variances or special permits. No legal proceedings are pending or, to the knowledge of Borrower, threatened with respect to the zoning of the Property.
Neither the zoning nor any other right to construct, use or operate the Property is in any way dependent upon or related to any property other than the Property, other than as set forth in the REA. All certifications, permits, licenses and
approvals, including certificates of completion and occupancy permits required for the legal use, occupancy and operation of the Property (collectively, the “Licenses”), have been obtained and are in full force and effect.
The use being made of the Property is in conformity with the certificate of occupancy issued for the Property and all other restrictions, covenants and conditions affecting the Property. 
 4.12 Contracts. There are no service, maintenance or repair contracts affecting the Property that are not terminable on one
(1) month’s notice or less without cause and without penalty or premium. All service, maintenance or repair contracts affecting the Property have been entered into at arms-length in the ordinary course of Borrower’s business and
provide for the payment of fees in amounts and upon terms comparable to existing market rates. 
 4.13 Federal Reserve Regulations;
Investment Company Act. No part of the proceeds of the Loan will be used for the purpose of purchasing or acquiring any “margin stock” within the meaning of Regulation U of the Board of Governors of the Federal Reserve System or
for any other purpose that would be inconsistent with such Regulation U or any other regulation of such Board of Governors, or for any purpose prohibited by Legal Requirements or any Loan Document. Borrower is not (i) an “investment
company” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended; or (ii) subject to any other federal or state law or regulation which purports to
restrict or regulate its ability to borrow money. 
  

 36 

 4.14 Easements; Utilities and Public Access. All easements, cross easements, licenses, air
rights and rights-of-way or other similar property interests (collectively, “Easements”), if any, necessary for the full utilization of the Improvements for their intended purposes have been obtained, are described in the
Title Insurance Policy and are in full force and effect without default thereunder. The Property has rights of access to public ways and is served by water, sewer, sanitary sewer and storm drain facilities adequate to service it for its intended
uses. Except as disclosed on the Survey, to Borrower’s knowledge, all public utilities necessary or convenient to the full use and enjoyment of the Property are located in the public right-of-way abutting the Property, and all such utilities
are connected so as to serve the Property without passing over other property absent a valid easement. All roads necessary for the use of the Property for its current purpose have been completed and dedicated to public use and accepted by all
Governmental Authorities. 
 4.15 Physical Condition. Except as disclosed in the property condition reports delivered to Lender
in connection with the Loan dated June, 2006 and prepared by Building Analytics (File No. 106097), to Borrower’s knowledge, the Property, including all Improvements, parking facilities, systems, Equipment and landscaping, are in good
condition, order and repair in all material respects; there exists no structural or other material defect or damages to the Property, whether latent or otherwise. Borrower has not received notice from any insurance company or bonding company of any
defect or inadequacy in the Property, or any part thereof, which would adversely affect its insurability or cause the imposition of extraordinary premiums or charges thereon or any termination of any policy of insurance or bond. Except as disclosed
on the Survey, to Borrower’s knowledge, no portion of the Property is located in an area as identified by the Federal Emergency Management Agency as an area having special flood hazards. The Improvements have suffered no material casualty or
damage which has not been fully repaired and the cost thereof fully paid. 
 4.16 Leases. The rent roll attached hereto as
Schedule 3 (the “Rent Roll”) is, to Borrower’s knowledge, true, complete and correct in all material respects and the Property is not subject to any Leases other than the Leases described in the Rent Roll. To
Borrower’s knowledge, except as set forth on the Rent Roll: (i) each Lease is in full force and effect; (ii) the tenants under the Leases have accepted possession of and are in occupancy of all of their respective demised premises,
have commenced the payment of rent under the Leases, and there are no offsets, claims or defenses to the enforcement thereof; (iii) all rents due and payable under the Leases have been paid and no portion thereof has been paid for any period
more than thirty (30) days in advance; (iv) the rent payable under each Lease is the amount of fixed rent set forth in the Rent Roll, and there is no claim or basis for a claim by the tenant thereunder for an adjustment to the rent;
(v) to Borrower’s knowledge, no tenant has made any claim against the landlord under any Lease which remains outstanding, there are no defaults on the part of the landlord under any Lease, and no event has occurred which, with the giving
of notice or passage of time, or both, would constitute such a default; (vi) to Borrower’s best knowledge, there is no present material default by the tenant under any Lease; (vii) all security deposits under Leases are as set forth
on the Rent Roll and are held consistent with Section 3.8 hereof; (viii) Borrower is the sole owner of the entire lessor’s interest in each Lease; (ix) each Lease is the valid, binding and enforceable obligation of the
Borrower and the applicable tenant thereunder and (x) no Person has any possessory interest in, or right to occupy, the Property except under the terms of the Lease. None of the Leases contains any option to purchase or right of first refusal
to 
  

 37 

 purchase the Property or any part thereof. Neither the Leases nor the Rents have been assigned or pledged except to
Lender, and no other Person has any interest therein except the tenants thereunder. 
 4.17 Fraudulent Transfer. Borrower has
not entered into the Loan or any Loan Document with the actual intent to hinder, delay, or defraud any creditor, and Borrower has received reasonably equivalent value in exchange for its obligations under the Loan Documents. Giving effect to the
transactions contemplated by the Loan Documents, the fair saleable value of Borrower’s assets exceeds and will, immediately following the execution and delivery of the Loan Documents, exceed Borrower’s total probable liabilities, including
subordinated, unliquidated, disputed or contingent liabilities, including the maximum amount of its contingent liabilities or its debts as such debts become absolute and matured. Borrower’s assets do not and, immediately following the execution
and delivery of the Loan Documents will not, constitute unreasonably small capital to carry out its business as conducted or as proposed to be conducted. Borrower does not intend to, and does not believe that it will, incur debts and liabilities
(including contingent liabilities and other commitments) beyond its ability to pay such debts as they mature (taking into account the timing and amounts to be payable on or in respect of obligations of Borrower). 
 4.18 Ownership of Borrower. The sole general partner of Borrower is the SPE Party. The only limited partner of Borrower is TPG/CalSTRS.
TPG/CalSTRS is the sole member of the SPE Party. OP is the sole managing member of TPG/CalSTRS and the owner of twenty-five percent (25%) of the limited liability company interests in TPG/CalSTRS. CalSTRS is the only other member of TPG/CalSTRS
and the owner of seventy-five percent (75%) of the limited liability company interests in TPG/CalSTRS. TPG is the sole general partner and the owner of 46.3% of the partnership interests in the OP. As of the date hereof, the limited partnership
interests in Borrower and the OP and the limited liability company interests in the SPE Party are owned free and clear of all Liens, warrants, options and rights to purchase. Borrower has no obligation to any Person to purchase, repurchase or issue
any ownership interest in it. The organizational chart attached hereto as Schedule 4 is complete and accurate and illustrates all Persons who have a direct or indirect ownership interest in Borrower. 
 4.19 Purchase Options. Except with respect to the right of first offer granted in the BMC Software Leases, neither the Property nor any
part thereof is subject to any purchase options or other similar rights in favor of third parties. 
 4.20 Management
Agreement. The Management Agreement is in full force and effect. There is no default, breach or violation existing thereunder, and no event has occurred (other than payments due but not yet delinquent) that, with the passage of time or the
giving of notice, or both, would constitute a default, breach or violation thereunder, by either party thereto. 
 4.21 Hazardous
Substances. Except as expressly disclosed in any environmental report regarding the Property and delivered to Lender in connection with the Loan, and to Borrower’s knowledge, (i) the Property is not in violation of any Legal
Requirement pertaining to or imposing liability or standards of conduct concerning environmental regulation, contamination or clean-up, including the Comprehensive Environmental Response, Compensation and Liability Act, the Resource Conservation and
Recovery Act, the Emergency 
  

 38 

 Planning and Community Right-to-Know Act of 1986, the Hazardous Substances Transportation Act, the Solid Waste Disposal
Act, the Clean Water Act, the Clean Air Act, the Toxic Substance Control Act, the Safe Drinking Water Act, the Occupational Safety and Health Act, any state super-lien and environmental clean-up statutes (including with respect to Toxic Mold), any
local law requiring related permits and licenses and all amendments to and regulations in respect of the foregoing laws (collectively, “Environmental Laws”); (ii) the Property is not subject to any private or
governmental Lien or judicial or administrative notice or action or inquiry, investigation or claim relating to hazardous, toxic and/or dangerous substances, toxic mold or fungus of a type that may pose a risk to human health or the environment or
would negatively impact the value of the Property (“Toxic Mold”) or any other substances or materials which are included under or regulated by Environmental Laws (collectively, “Hazardous Substances”);
(iii) to Borrower’s knowledge, no Hazardous Substances are or have been (including the period prior to Borrower’s acquisition of the Property), discharged, generated, treated, disposed of or stored on, incorporated in, or removed or
transported from the Property other than in compliance with all Environmental Laws; (iv) to Borrower’s knowledge, no Hazardous Substances are present in, on or under any nearby real property which could migrate to or otherwise affect the
Property; (v) to Borrower’s knowledge, no Toxic Mold is on or about the Property which requires remediation; (vi) no underground storage tanks exist on the Property and the Property has never been used as a landfill; and
(vii) there have been no environmental investigations, studies, audits, reviews or other analyses conducted by or on behalf of Borrower which have not been provided to Lender. 
 4.22 Name; Principal Place of Business. Borrower does not use and will not use any trade name and has not done and will not do business
under any name other than its actual name set forth herein. The principal place of business of Borrower is its primary address for notices as set forth in Section 6.1 hereof, and Borrower has no other place of business. 
 4.23 Other Debt. There is no indebtedness with respect to the Property or any excess cash flow or any residual interest therein, whether
secured or unsecured, other than Permitted Encumbrances and Permitted Indebtedness. 
 4.24 REA. The REA is in full force and
effect and neither Borrower nor, to Borrower’s knowledge, any other party to the REA, is in default thereunder, and to the best of Borrower’s knowledge, there are no conditions which, with the passage of time or the giving of notice, or
both, would constitute a default thereunder. The REA has not been modified, amended or supplemented. 
 All of the representations and warranties in this
Article 4 and elsewhere in the Loan Documents (i) shall survive for so long as any portion of the Debt remains owing to Lender and (ii) shall be deemed to have been relied upon by Lender notwithstanding any investigation heretofore
or hereafter made by Lender or on its behalf, provided, however, that the representations, warranties and covenants set forth in Section 4.21 above shall survive in perpetuity. 
  

 39 

 5. COVENANTS 
 Until the end of the Term, Borrower hereby covenants and agrees with Lender that: 
 5.1 Existence. Each of Borrower
and the SPE Party shall (i) do or cause to be done all things necessary to preserve, renew and keep in full force and effect its existence, rights, and franchises, (ii) continue to engage in the business presently conducted by it,
(iii) obtain and maintain all Licenses, and (iv) qualify to do business and remain in good standing under the laws of each jurisdiction, in each case as and to the extent required for the ownership, maintenance, management and operation of
the Property. 
 5.2 Taxes and Other Charges. Borrower shall pay all Taxes and Other Charges as the same become due and
payable, and deliver to Lender receipts for payment or other evidence reasonably satisfactory to Lender that the Taxes and Other Charges have been so paid no later than ten (10) days before they would be delinquent if not paid (provided,
however, that Borrower need not pay such Taxes nor furnish such receipts for payment of Taxes paid by Lender pursuant to Section 3.3 hereof). Borrower shall not suffer and shall promptly cause to be paid and discharged any Lien against
the Property, and shall promptly pay for all utility services provided to the Property. After prior notice to Lender, Borrower, at its own expense, may contest by appropriate legal proceeding, promptly initiated and conducted in good faith and with
due diligence, the amount or validity or application of any Taxes or Other Charges, provided that (i) no Default or Event of Default has occurred and is continuing, (ii) such proceeding shall suspend the collection of the Taxes or such
Other Charges (or Borrower otherwise pays the same, including with funds from the Tax and Insurance Subaccount), (iii) such proceeding shall be permitted under and be conducted in accordance with the provisions of any other instrument to which
Borrower is subject and shall not constitute a default thereunder, (iv) no part of or interest in the Property will be in danger of being sold, forfeited, terminated, canceled or lost, (v) Borrower shall have furnished such security as may
be required in the proceeding, or as may be requested by Lender, to insure the payment of any such Taxes or Other Charges, together with all interest and penalties thereon, which shall not be more than 125% of the Taxes and Other Charges being
contested (less amounts then being retained in the Tax and Insurance Subaccount to pay such Taxes so contested), and (vi) Borrower shall promptly upon final determination thereof pay the amount of such Taxes or Other Charges, together with all
costs, interest and penalties. Lender may pay over any such security or part thereof held by Lender to the claimant entitled thereto at any time when, in the judgment of Lender, the entitlement of such claimant is established. 
 5.3 Access to Property. Borrower shall permit agents, representatives, consultants and employees of Lender to inspect the Property or any
part thereof at reasonable hours upon reasonable advance notice, subject however to the rights of tenants under any Leases. 
 5.4
Repairs; Maintenance and Compliance; Alterations. 
 5.4.1 Repairs; Maintenance and Compliance. Borrower shall
at all times maintain, preserve and protect all franchises and trade names, and Borrower shall cause the Property to be maintained in a good and safe condition and repair and shall not remove, demolish or alter the Improvements or Equipment (except
for alterations performed in accordance with Section 5.4.2 below and normal replacement of Equipment with Equipment of equivalent value and functionality). Borrower shall promptly comply with all Legal Requirements and promptly cure any
violation of a Legal Requirement. Borrower shall notify Lender in writing within three (3) Business Days after Borrower first receives notice of any such non-compliance. Borrower 
  

 40 

 shall promptly repair, replace or rebuild any part of the Property that becomes damaged, worn or dilapidated and shall
complete and pay for any Improvements at any time in the process of construction or repair. 
 5.4.2 Alterations. Borrower may,
without Lender’s consent, perform alterations to the Improvements and Equipment which (i) do not constitute a Material Alteration, (ii) do not adversely affect Borrower’s financial condition or the value or Net Operating Income
of the Property and (iii) are in the ordinary course of Borrower’s business. Borrower shall not perform any Material Alteration without Lender’s prior written consent, which consent shall not be unreasonably withheld, conditioned or
delayed; provided, however, that Lender may, in its sole and absolute discretion, withhold consent to any alteration the cost of which is reasonably estimated to exceed $2,500,000 or which is likely to result in a decrease of Net Operating Income by
two and one-half percent (2.5%) or more for a period of thirty (30) days or longer. Lender may, as a condition to giving its consent to a Material Alteration, require that Borrower deliver to Lender security for payment of the cost of such
Material Alteration in an amount equal to 125% of the amount by which the cost of the Material Alteration as reasonably estimated by Lender exceeds $2,500,000. Upon substantial completion of the Material Alteration, Borrower shall provide evidence
satisfactory to Lender that (i) the Material Alteration was constructed in accordance with applicable Legal Requirements and substantially in accordance with plans and specifications approved by Lender (which approval shall not be unreasonably
withheld, conditioned or delayed), (ii) all contractors, subcontractors, materialmen and professionals who provided work, materials or services in connection with the Material Alteration have been paid in full and have delivered unconditional
releases of lien and (iii) all material Licenses necessary for the use, operation and occupancy of the Material Alteration (other than those which depend on the performance of tenant improvement work) have been issued. Borrower shall reimburse
Lender upon demand for all actual out-of-pocket costs and expenses (including the reasonable fees of any architect, engineer or other professional engaged by Lender) incurred by Lender in reviewing plans and specifications or in making any
determinations necessary to implement the provisions of this Section 5.4.2. 
 5.4.3 Parking Garage. Borrower shall
cause that certain parking facility located on the Property known as Parking Garage 2 (the “Parking Garage”) to be inspected by Haynes Whaley Associates, Inc. or any other engineering firm reasonably approved by Lender (each,
an “Approved Engineer”) at least once in each twelve (12) month period during the Term, and shall cause such Approved Engineer to deliver to Lender a written report summarizing the conclusions and recommendations of such
inspection. In the event that the Approved Engineer recommends any remedial action or demolition and reconstruction of the Parking Garage (collectively, the “Parking Garage Work”), Borrower shall, at Borrower’s sole cost
and expense, promptly commence the performance of the same and shall diligently and expeditiously pursue the same to completion in a good and workmanlike and lien free manner. At Lender’s option, Lender shall have the right to review and
approve (such approval not to be unreasonably withheld or delayed) the construction budget and schedule, all plans and specifications, all engineering and other professionals’ reports, the general construction agreement, the architect’s
and/or engineer’s agreement(s) and all other material agreements relating to the design, construction and completion of the Parking Garage Work. Borrower shall pay all reasonable out-of pocket expenses incurred by Lender (including
Lender’s reasonable attorneys’ fees) in connection with Lender’s review and approval of the Parking Garage Work. Additionally, 
  

 41 

 Lender shall have the right (if it desires) to verify (by an inspection conducted at Borrower’s expense) the
performance of the work associated with the Parking Garage Work. Notwithstanding anything to the contrary contained herein, the Parking Garage Work shall be deemed to be a Material Alteration for all purposes set forth in Section 5.4.2 above
(other than the second sentence of Section 5.4.2 above). 
 5.5 Performance of Other Agreements. Borrower shall observe
and perform each and every term to be observed or performed by it pursuant to the terms of any agreement or instrument affecting or pertaining to the Property, including the Loan Documents. 
 5.6 Cooperate in Legal Proceedings. Borrower shall cooperate fully with Lender with respect to, and permit Lender, at its option, to
participate in, any proceedings before any Governmental Authority which may in any way affect the rights of Lender under any Loan Document. 
 5.7 Further Assurances. Borrower shall, at Borrower’s sole cost and expense, (i) execute and deliver to Lender such documents, instruments, certificates, assignments and other writings, and do such other acts
necessary or desirable, to evidence, preserve and/or protect the collateral at any time securing or intended to secure the Debt and/or for the better and more effective carrying out of the intents and purposes of the Loan Documents, as Lender may
reasonably require from time to time; and (ii) upon Lender’s request therefor given from time to time after the occurrence of any Default or Event of Default pay for (a) reports of UCC, federal tax lien, state tax lien, judgment and
pending litigation searches with respect to Borrower and the SPE Party and (b) searches of title to the Property, each such search to be conducted by search firms reasonably designated by Lender in each of the locations reasonably designated by
Lender. 
 5.8 Environmental Matters. 
 5.8.1 Hazardous Substances. So long as Borrower owns or is in possession of the Property, Borrower shall (i) keep the Property in compliance with all Environmental Laws, (ii) promptly notify
Lender if Borrower shall become aware that (A) any Hazardous Substance is on or near the Property, (B) the Property is in violation of any Environmental Laws or (C) any condition on or near the Property shall pose a threat to the
health, safety or welfare of humans and (iii) remove such Hazardous Substances and/or cure such violations and/or remove such threats, as applicable, as required by law (or as shall be required by Lender in the case of removal which is not
required by law, but in response to the reasonable opinion of a licensed hydrogeologist, licensed environmental engineer or other qualified environmental consulting firm engaged by Lender (“Lender’s Consultant”)),
promptly after Borrower becomes aware of same, at Borrower’s sole expense. Nothing herein shall prevent Borrower from recovering such expenses from any other party that may be liable for such removal or cure. 
 5.8.2 Environmental Monitoring. 
 (a) Borrower shall give prompt written notice to Lender of (i) any proceeding or inquiry by any party (including any Governmental Authority) with respect to the presence of any Hazardous Substance on, under, from or about the Property,
(ii) all claims made or threatened by any third party (including any Governmental Authority) against Borrower or the Property or any 
  

 42 

 party occupying the Property relating to any loss or injury resulting from any Hazardous Substance, and
(iii) Borrower’s discovery of any occurrence or condition on any real property adjoining or in the vicinity of the Property that could cause the Property to be subject to any investigation or cleanup pursuant to any Environmental Law. Upon
becoming aware of the presence of mold or fungus at the Property, Borrower shall (i) undertake an investigation to identify the source(s) of such mold or fungus and shall develop and implement an appropriate remediation plan to eliminate the
presence of any Toxic Mold, (ii) perform or cause to be performed all acts reasonably necessary for the remediation of any Toxic Mold (including taking any action necessary to clean and disinfect any portions of the Property affected by Toxic
Mold, including providing any necessary moisture control systems at the Property), and (iii) provide evidence reasonably satisfactory to Lender of the foregoing. Borrower shall permit Lender to join and participate in, as a party if it so
elects, any legal or administrative proceedings or other actions initiated with respect to the Property in connection with any Environmental Law or Hazardous Substance, and Borrower shall pay all reasonable attorneys’ fees and disbursements
incurred by Lender in connection therewith. 
 (b) Upon Lender’s request, at any time and from time to time (which request Lender shall
not make more than once in any 12-month period unless (i) such request is made in connection with a Secondary Market Transaction, or (ii) Lender has a good faith belief that there is a violation of Environmental Laws or a release of
Hazardous Substances at the Property), Borrower shall undertake an inspection or audit of the Property prepared by a licensed hydrogeologist, licensed environmental engineer or qualified environmental consulting firm approved by Lender assessing the
presence or absence of Hazardous Substances on, in or near the Property, and if Lender in its good faith judgment determines that reasonable cause exists for the performance of such environmental inspection or audit, then the cost and expense of
such audit or inspection shall be paid by Borrower. Such inspections and audit may include soil borings and ground water monitoring. If Borrower fails to provide any such inspection or audit within thirty (30) days after such request, Lender
may order same, and Borrower hereby grants to Lender and its employees and agents access to the Property and a license to undertake such inspection or audit. 
 (c) If any environmental site assessment report prepared in connection with such inspection or audit recommends that an operations and maintenance plan be implemented for any Hazardous Substance, whether such
Hazardous Substance existed prior to the ownership of the Property by Borrower, or presently exists or is reasonably suspected of existing, Borrower shall cause such operations and maintenance plan to be prepared and implemented at its expense upon
request of Lender, and with respect to any Toxic Mold, Borrower shall take all action necessary to clean and disinfect any portions of the Improvements affected by Toxic Mold in or about the Improvements, including providing any necessary moisture
control systems at the Property. If any investigation, site monitoring, containment, cleanup, removal, restoration or other work of any kind is reasonably necessary under an applicable Environmental Law (“Remedial Work”),
Borrower shall commence all such Remedial Work within thirty (30) days after written demand by Lender and thereafter diligently prosecute to completion all such Remedial Work within such period of time as may be required under applicable law.
All Remedial Work shall be performed by licensed contractors reasonably approved in advance by Lender and under the supervision of a consulting engineer reasonably approved by Lender. All costs of such Remedial Work shall be paid by Borrower,
including Lender’s reasonable attorneys’ fees and disbursements incurred in 
  

 43 

 connection with the monitoring or review of such Remedial Work. If Borrower does not timely commence and diligently
prosecute to completion the Remedial Work, Lender may (but shall not be obligated to) cause such Remedial Work to be performed at Borrower’s expense. Notwithstanding the foregoing, Borrower shall not be required to commence such Remedial Work
within the above specified time period: (x) if prevented from doing so by any Governmental Authority, (y) if commencing such Remedial Work within such time period would result in Borrower or such Remedial Work violating any Environmental
Law, or (z) if Borrower, at its expense and after prior written notice to Lender, is contesting by appropriate legal, administrative or other proceedings, conducted in good faith and with due diligence, the need to perform Remedial Work.
Borrower shall have the right to contest the need to perform such Remedial Work, provided that, (1) Borrower is permitted by the applicable Environmental Laws to delay performance of the Remedial Work pending such proceedings, (2) neither
the Property nor any part thereof or interest therein will be sold, forfeited or lost if Borrower fails to promptly perform the Remedial Work being contested, and if Borrower fails to prevail in contest, Borrower would thereafter have the
opportunity to perform such Remedial Work, (3) Lender would not, by virtue of such permitted contest, be exposed to any risk of any civil liability for which Borrower has not furnished additional security as provided in clause (4) below,
or to any risk of criminal liability, and neither the Property nor any interest therein would be subject to the imposition of any Lien for which Borrower has not furnished additional security as provided in clause (4) below, as a result of the
failure to perform such Remedial Work and (4) Borrower shall have furnished to Lender additional security in respect of the Remedial Work being contested and the loss or damage that may result from Borrower’s failure to prevail in such
contest in such amount as may be reasonably requested by Lender but in no event less than 125% of the cost of such Remedial Work as estimated by Lender or Lender’s Consultant and any loss or damage that may result from Borrower’s failure
to prevail in such contest. 
 (d) Borrower shall not install or permit to be installed on the Property any underground storage tank.

 5.8.3 O & M Program. In the event any environmental report delivered to Lender in connection with the Loan recommends
the development of or continued compliance with an operation and maintenance program for the Property (including, without limitation, with respect to the presence of asbestos and/or lead-based paint) (“O & M
Program”), Borrower shall develop (or continue to comply with, as the case may be) such O & M Program and shall, during the term of the Loan, including any extension or renewal thereof, comply in all material respects with the terms
and conditions of the O & M Program. 
 5.9 Title to the Property. Borrower will warrant and defend the title to the
Property, and the validity and priority of all Liens granted or otherwise given to Lender under the Loan Documents, subject only to Permitted Encumbrances, against the claims of all Persons. 
 5.10 Leases. 
 5.10.1
Generally. Upon request, Borrower shall furnish Lender with executed copies of all Leases then in effect. All renewals of Leases (unless provided otherwise by the terms of such Lease) and all proposed leases shall provide for rental rates
and terms comparable to existing local market rates and shall be arm’s length transactions with bona fide, independent third-party tenants. 
  

 44 

 5.10.2 Material Leases. Borrower shall not enter into a proposed Material Lease or a
proposed renewal, extension or modification of an existing Material Lease without the prior written consent of Lender, which consent shall not, so long as no Event of Default is continuing, be unreasonably withheld, conditioned or delayed. Prior to
seeking Lender’s consent to any Material Lease, Borrower shall deliver to Lender a copy of such proposed lease (a “Proposed Material Lease”) blacklined to show changes from the standard form of Lease approved by Lender
and then being used by Borrower. Lender shall approve or disapprove each Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease for which Lender’s approval is required under this Agreement within
ten (10) Business Days of the submission by Borrower to Lender of a written request for such approval, accompanied by a final copy of the Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease. If
requested by Borrower, Lender will grant conditional approvals of Proposed Material Leases or proposed renewals, extensions or modifications of existing Material Leases at any stage of the leasing process, from initial “term sheet” through
negotiated lease drafts, provided that Lender shall retain the right to disapprove any such Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease, if subsequent to any preliminary approval material
changes are made to the terms previously approved by Lender, or additional material terms are added that had not previously been considered and approved by Lender in connection with such Proposed Material Lease or proposed renewal, extension or
modification of an existing Material Lease. Provided that no Event of Default is continuing, if Borrower provides Lender with a written request for approval (which written request shall specifically refer to this Section 5.10.2 and shall
explicitly state that failure by Lender to approve or disapprove within ten (10) Business Days will constitute a deemed approval) and Lender fails to reject the request in writing delivered to Borrower within ten (10) Business Days after
receipt by Lender of the request, the Proposed Material Lease or proposed renewal, extension or modification of an existing Material Lease shall be deemed approved by Lender, and Borrower shall be entitled to enter into such Proposed Material Lease
or proposed renewal, extension or modification of an existing Material Lease. 
 5.10.3 Minor Leases. Notwithstanding the
provisions of Section 5.10.2 above, provided that no Event of Default is continuing, renewals, amendments and modifications of existing Leases and proposed leases, shall not be subject to the prior approval of Lender provided
(i) the proposed lease would be a Minor Lease or the existing Lease as amended or modified or the renewal Lease is a Minor Lease, (ii) the proposed lease shall be written substantially in accordance with the standard form of Lease which
shall have been approved by Lender, (iii) the Lease as amended or modified or the renewal Lease or series of leases or proposed lease or series of leases: (a) shall provide for net effective rental rates comparable to existing local market
rates, (b) shall have an initial term (exclusive of any renewal options) of not less than three (3) years (provided, however, the foregoing shall not restrict Borrower’s ability to enter into one or more Leases, covering up to 10% of
the aggregate rentable square feet of the Improvements at any one time, with a term of less than three years) or greater than ten (10) years, (c) shall provide for automatic self-operative subordination to the Mortgage and, at
Lender’s option, attornment to Lender, and (d) shall not contain any option to purchase, any right of first refusal to purchase, any right to terminate (except in the event of the destruction or condemnation of substantially all

  

 45 

 of the Property), any requirement for a non-disturbance or recognition agreement (other than on Lender’s then
standard form of non-disturbance or recognition agreement), or any other provision which might adversely affect the rights of Lender under the Loan Documents in any material respect. Borrower shall deliver to Lender copies of all Leases which are
entered into pursuant to the preceding sentence together with Borrower’s certification that it has satisfied all of the conditions of the preceding sentence at the time of delivery of the next monthly report required under Section 6.3.4.

 5.10.4 Additional Covenants with respect to Leases. Borrower (i) shall observe and perform the material obligations
imposed upon the lessor under the Leases and shall do nothing to impair the value of the Leases as security for the Debt; (ii) shall promptly send copies to Lender of all notices of default that Borrower shall send or receive under any Lease;
(iii) shall enforce, in accordance with commercially reasonable practices for properties similar to the Property, the terms, covenants and conditions in the Leases to be observed or performed by the lessees, short of termination thereof (except
as provided in clause (ix) below); (iv) shall not collect any of the Rents more than one (1) month in advance (other than security deposits); (v) shall not execute any other assignment of lessor’s interest in the Leases or
the Rents (except as contemplated by the Loan Documents); (vi) shall not modify any Lease in a manner inconsistent with the Loan Documents; (vii) shall not convey or transfer or suffer or permit a conveyance or transfer of the Property so
as to effect a merger of the estates and rights of, or diminution of the obligations of, lessees under Leases; (viii) shall not consent to any assignment of or subletting under any Material Lease unless required in accordance with its terms
without the prior consent of Lender, which, with respect to a subletting, may not, so long as no Event of Default is continuing, be unreasonably withheld or delayed (provided that Lender’s consent shall not be required in connection with
(i) an assignment if the assigning tenant (and its guarantor, if applicable) remains primarily liable under the applicable Lease or (ii) a subletting of less than 80,000 square feet); and (ix) shall not cancel or terminate any Lease
or accept a surrender thereof (except in the exercise of Borrower’s commercially reasonable judgment in connection with a tenant default under a Minor Lease or if such a termination or cancellation is a condition to leasing, to another tenant
which will pay net effective rental rates comparable to existing local market rates, the space subject to the Lease being cancelled or terminated) without the prior consent of Lender, which consent shall not, so long as no Event of Default is
continuing, be unreasonably withheld, conditioned or delayed. 
 5.10.5 BMC Space Master Lease. In the event that a BMC
Software Lease Special Termination occurs, then upon the effective date of such BMC Software Lease Special Termination, Borrower (as landlord) shall enter into a “master lease” (the “BMC Space Master Lease”) with
TPG/CalSTRS (as tenant) (in such capacity, the “BMC Space Master Lease Tenant”), pursuant to which the BMC Space Master Lease Tenant leases from Borrower the entirety of the space under the BMC Software Lease(s) that has been
surrendered, cancelled or terminated as a result of the BMC Software Lease Special Termination (the “BMC Space Master Lease Space”), which BMC Space Master Lease shall provide for annual per square foot contract rent and
recoveries equal to then annual per square foot contract rent and recoveries payable pursuant to the BMC Software Lease(s) (the “Minimum PSF Rent and Recoveries”), for a term expiring on June 30, 2021. The BMC Space
Master Lease shall be on the form of the “Master Lease” prepared in connection with that certain loan being made concurrently herewith by Lender to Other Property Owner. Notwithstanding the provisions of this Section 5.10.5 to the

  

 46 

 contrary, BMC Space Master Lease Tenant may partially assign or sublet or partially release all or any portion of the BMC
Space Master Lease Space (and Borrower may approve the same), provided (i) such assignment or partial release shall be evidenced by a written modification or amendment of the BMC Space Master Lease in accordance with the provisions of
this Section 5.10 and Section 13 of the BMC Space Master Lease, (ii) that any space as to which BMC Space Master Lease Tenant is released is the subject, in each case, of a new direct Lease entered into between Borrower and a tenant
in accordance with this Section 5.10 (each such tenant a “New ML Tenant” and each such new direct lease, a “New ML Lease”), (iii) no such New ML Lease may be entered into (or approved by
Borrower) at any time that comparable vacant space at the Property is otherwise available for leasing (and acceptable to the proposed New ML Tenant), and (iv) to the extent that the per square foot contract rent and recoveries under all such
New ML Leases is less than the Minimum PSF Rent and Recoveries under the BMC Space Master Lease, the per square foot contract rent and recoveries under the BMC Space Master Lease with respect to the remaining space demised thereunder will be
automatically increased or decreased (pursuant to a written modification or amendment of the BMC Space Master Lease in accordance with the provisions of this Section 5.10.5) to the extent necessary so that the aggregate contract rent and
recoveries payable with respect to the remaining space demised under the BMC Space Master Lease and all such New ML Leases shall be equal to the Minimum PSF Rent and Recoveries originally payable with respect to the entirety of the BMC Space Master
Lease Space under the BMC Space Master Lease. Notwithstanding the foregoing, it is understood that if (i) the BMC Space Master Lease Tenant seeks a full and complete release from the BMC Space Master Lease in accordance with this
Section 5.10.5 and (ii) the aggregate per square foot contract rent and recoveries under all New ML Leases is less than the Minimum PSF Rent and Recoveries originally payable with respect to the entirety of the BMC Space Master Lease Space
under the BMC Space Master Lease, then in no event shall Borrower release BMC Space Master Lease Tenant from its remaining tenancy obligations under the Master Lease. Thus, at least a portion of the BMC Space Master Lease Space must either be
(i) subleased or (ii) retained as space leased directly by BMC Space Master Lease Tenant under the BMC Space Master Lease, such that, in either case, BMC Space Master Lease Tenant shall still be obligated to pay to Borrower, under the BMC
Space Master Lease, (x) the Minimum PSF Rent and Recoveries originally payable with respect to the entirety of the BMC Space Master Lease Space under the BMC Space Master Lease less (y) the aggregate contract rent and recoveries payable
with respect to all New ML Leases. Upon termination of the BMC Space Master Lease, Borrower may enter into direct Leases for all subleased space on the terms set forth in the subleases. 
 Notwithstanding anything to the contrary contained herein, nothing in this Agreement shall be deemed to restrict Borrower from entering into the BMC Space Master Lease at any time (even if prior to the occurrence of a
BMC Software Lease Special Termination), provided that the commencement date of the BMC Space Master Lease shall not occur later than the effective date of termination or cancellation or surrender of the BMC Software Lease(s). 
 Notwithstanding anything to the contrary contained above, with respect to any New ML Lease, the BMC Space Master Lease Tenant shall be responsible for all leasing costs
expenses incurred in connection therewith (including tenant improvement work and brokerage commissions), and the BMC Space Master Lease Tenant may not be released from its obligations under the BMC Space Master Lease (with respect to such New ML
Lease) until such time that such leasing costs and expenses have been paid in full. 
  

 47 

 5.11 Estoppel Statement. After request by Lender, Borrower shall within ten (10) days
furnish Lender with a statement addressed to Lender, its successors and assigns, duly acknowledged and certified, setting forth (i) the unpaid Principal, (ii) the Interest Rate, (iii) the date installments of interest and/or Principal
were last paid, (iv) any offsets or defenses to the payment of the Debt, and (v) that the Loan Documents are valid, legal and binding obligations and have not been modified or if modified, giving particulars of such modification.

 5.12 Property Management. 
 5.12.1 Management Agreement. Borrower shall (i) cause the Property to be managed pursuant to the Management Agreement; (ii) promptly perform and observe all of the covenants required to be
performed and observed by it under the Management Agreement and do all things necessary to preserve and to keep unimpaired its rights thereunder; (iii) promptly notify Lender of any default under the Management Agreement of which it is aware;
(iv) promptly deliver to Lender a copy of each financial statement, capital expenditure plan, and property improvement plan and any other notice, report and estimate received by Borrower under the Management Agreement; and (v) promptly
enforce the performance and observance of all of the covenants required to be performed and observed by Manager under the Management Agreement. Without Lender’s prior written consent, Borrower shall not (a) surrender, terminate, cancel,
extend or renew the Management Agreement or otherwise replace the Manager or enter into any other management agreement (except pursuant to Section 5.12.2 below); (b) reduce or consent to the reduction of the term of the Management
Agreement; (c) increase or consent to the increase of the amount of any charges under the Management Agreement; (d) otherwise modify, change, supplement, alter or amend in any material respect, or waive or release any of its rights and
remedies under, the Management Agreement; or (e) suffer or permit the occurrence and continuance of a default beyond any applicable cure period under the Management Agreement (or any successor management agreement) if such default permits the
Manager to terminate the Management Agreement (or such successor management agreement). 
 5.12.2 Termination of Manager. If
(i) an Event of Default shall be continuing, or (ii) Manager is in default under the Management Agreement beyond any applicable notice and cure periods, or (iii) upon the gross negligence, malfeasance or willful misconduct of the
Manager, Borrower shall, at the request of Lender, terminate the Management Agreement and replace Manager with a replacement manager acceptable to Lender in Lender’s discretion and the applicable Rating Agencies on terms and conditions
satisfactory to Lender and the applicable Rating Agencies. Borrower’s failure to appoint an acceptable manager within thirty (30) days after Lender’s request of Borrower to terminate the Management Agreement (as provided above) shall
constitute an immediate Event of Default. Borrower may from time to time appoint a successor manager to manage the Property, provided that such successor manager and Management Agreement shall be approved in writing by Lender in Lender’s
discretion and the applicable Rating Agencies (and Lender’s approval may be conditioned upon Borrower delivering a Rating Comfort Letter as to such successor manager and Management Agreement). If at any time Lender consents to the appointment
of a new manager, such new manager and Borrower shall, as a condition of Lender’s consent, execute a consent and subordination of management agreement substantially in the form of the Consent and Subordination of Manager of even date herewith
executed and delivered by Manager to Lender. 
  

 48 

 5.13 Special Purpose Bankruptcy Remote Entity. Each of Borrower and the SPE Party
shall at all times be a Special Purpose Bankruptcy Remote Entity. Neither Borrower nor the SPE Party shall directly or indirectly make any change, amendment or modification to its or such SPE Party’s organizational documents, or otherwise take
any action which could result in Borrower or the SPE Party not being a Special Purpose Bankruptcy Remote Entity. A “Special Purpose Bankruptcy Remote Entity” shall have the meaning set forth on Schedule 5 hereto.

 5.14 Intentionally Omitted.  
 5.15 Change in Business or Operation of Property. Borrower shall not purchase or own any real property other than the Property and shall not enter into any line of business other than the
ownership and operation of the Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business or otherwise
cease to operate the Property as an office property or terminate such business for any reason whatsoever (other than temporary cessation in connection with renovations to the Property). 
 5.16 Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in
accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business. 
 5.17 Affiliate Transactions. Except for the Management Agreement by and between Manager and Borrower, and the BMC Space Master Lease, Borrower shall not enter into, or be a party to, any transaction with an Affiliate of
Borrower or any of the partners of Borrower except in the ordinary course of business and on terms which are fully disclosed to Lender in advance and are no less favorable to Borrower or such Affiliate than would be obtained in a comparable
arm’s-length transaction with an unrelated third party. 
 5.18 Zoning. Borrower shall not initiate or consent to any
zoning reclassification of any portion of the Property or seek any variance under any existing zoning ordinance or use or permit the use of any portion of the Property in any manner that could result in such use becoming a non-conforming use under
any zoning ordinance or any other applicable land use law, rule or regulation, without the prior consent of Lender, such consent not to be unreasonably withheld, conditioned or delayed. 
 5.19 No Joint Assessment. Borrower shall not suffer, permit or initiate the joint assessment of the Property (i) with any other real
property constituting a tax lot separate from the Property, and (ii) with any portion of the Property which may be deemed to constitute personal property, or any other procedure whereby the lien of any taxes which may be levied against such
personal property shall be assessed or levied or charged to the Property. 
 5.20 Principal Place of Business. Borrower shall
not change its principal place of business or chief executive office without first giving Lender thirty (30) days’ prior notice. 
  

 49 

 5.21 Change of Name, Identity or Structure. Borrower shall not change its name, identity
(including its trade name or names) or Borrower’s corporate, partnership or other structure without notifying Lender of such change in writing at least thirty (30) days prior to the effective date of such change and, in the case of a
change in Borrower’s structure, without first obtaining the prior written consent of Lender. Borrower shall execute and deliver to Lender, prior to or contemporaneously with the effective date of any such change, any financing statement or
financing statement change required by Lender to establish or maintain the validity, perfection and priority of the security interest granted herein. At the request of Lender, Borrower shall execute a certificate in form satisfactory to Lender
listing the trade names under which Borrower intends to operate the Property, and representing and warranting that Borrower does business under no other trade name with respect to the Property. 
 5.22 Indebtedness. Borrower shall not directly or indirectly create, incur or assume any indebtedness other than (i) the Debt and
(ii) unsecured trade payables incurred in the ordinary course of business relating to the ownership and operation of the Property, which in the case of such unsecured trade payables (A) are not evidenced by a note, (B) do not exceed,
at any time, a maximum aggregate amount of two percent (2%) of the original amount of the Principal and (C) are paid within sixty (60) days of the date incurred (collectively, “Permitted Indebtedness”).

 5.23 Licenses. Borrower shall not Transfer any License required for the operation of the Property. 
 5.24 Compliance with Restrictive Covenants, Etc. Borrower will not enter into, modify, waive in any material respect or release any
Easements, restrictive covenants or other Permitted Encumbrances, or suffer, consent to or permit the foregoing, without Lender’s prior written consent, which consent may be granted or denied in Lender’s sole discretion. 
 5.25 ERISA. 
 (1)
Borrower shall not engage in any transaction which would cause any obligation, or action taken or to be taken, hereunder (or the exercise by Lender of any of its rights under the Note, this Agreement or the other Loan Documents) to be a non-exempt
(under a statutory or administrative class exemption) prohibited transaction under ERISA. 
 (2) Borrower shall not permit the assets of
Borrower to become “plan assets,” whether by operation of law or under regulations promulgated under ERISA. 
 (3) Borrower shall
deliver to Lender such certifications or other evidence from time to time throughout the Term, as requested by Lender in its sole discretion, that (A) Borrower is not and does not maintain an “employee benefit plan” as defined in
Section 3(3) of ERISA, which is subject to Title I of ERISA, or a “governmental plan” within the meaning of Section 3(32) of ERISA; (B) Borrower is not subject to state statutes (or is in compliance with state statutes)
regulating investments and fiduciary obligations with respect to governmental plans; and (C) the assets of Borrower do not constitute “plan assets” within the meaning of 29 C.F.R. Section 2510.3-101. 
  

 50 

 5.26 Prohibited Transfers. 
 5.26.1 Generally. Borrower shall not directly or indirectly make, suffer or permit the occurrence of any Transfer other than a Permitted
Transfer. 
 5.26.2 Transfer and Assumption. 
 (a) Notwithstanding the foregoing and subject to the terms and satisfaction of all the conditions precedent set forth in this Section 5.26.2, Borrower shall have the right to Transfer the Property to
another party (the “Transferee Borrower”) and have the Transferee Borrower assume all of Borrower’s obligations under the Loan Documents, and have replacement guarantors and indemnitors assume all of the obligations of
the indemnitors and guarantors (including those of the BMC Space Master Lease Tenant) of the Loan Documents (collectively, a “Transfer and Assumption”). Borrower may make a written application to Lender for Lender’s
consent to the Transfer and Assumption, subject to the conditions set forth in paragraphs (b) and (c) of this Section 5.26.2. Together with such written application, Borrower will pay to Lender the reasonable review fee then
required by Lender. Borrower also shall pay on demand all of the reasonable costs and expenses reasonably incurred by Lender, including reasonable attorneys’ fees and expenses, and including the fees and expenses of Rating Agencies and other
outside entities, in connection with considering any proposed Transfer and Assumption, whether or not the same is permitted or occurs. 
 (b)
Lender’s consent, which may be withheld in Lender’s reasonable discretion, to a Transfer and Assumption shall be subject to the following conditions: 
 (i) No Default or Event of Default has occurred and is continuing; 
 (ii) Borrower has submitted to Lender
true, correct and complete copies of any and all information and documents of any kind reasonably requested by Lender concerning the Property, Transferee Borrower, replacement guarantors and indemnitors and Borrower; 
 (iii) Evidence reasonably satisfactory to Lender has been provided showing that the Transferee Borrower and such of its Affiliates as shall be
designated by Lender comply and will comply with Section 5.13 hereof, as those provisions may be modified by Lender taking into account the ownership structure of Transferee Borrower and its Affiliates; 
 (iv) If the Loan, by itself or together with other loans, has been the subject of a Secondary Market Transaction, then Lender shall have received a
Rating Comfort Letter from the applicable Rating Agencies; 
 (v) If the Loan has not been the subject of a Secondary Market Transaction,
then Lender shall have determined in its reasonable discretion (taking into consideration such factors as Lender may determine, including the attributes of the loan pool in which the Loan might reasonably be expected to be securitized) that no
rating for any securities that would be issued in connection with such securitization will be diminished, qualified, or withheld by reason of the Transfer and Assumption; 
 (vi) Borrower shall have paid all of Lender’s reasonable costs and expenses in connection with considering the Transfer and Assumption, and shall
have paid the amount requested by Lender as a deposit against Lender’s costs and expenses in connection with the effecting the Transfer and Assumption; 
  

 51 

 (vii) Borrower, the Transferee Borrower, and the replacement guarantors and indemnitors shall have
indicated in writing in form and substance reasonably satisfactory to Lender their readiness and ability to satisfy the conditions set forth in subsection (c) below; 
 (viii) Intentionally omitted; 
 (ix) The
identity, experience, financial condition and creditworthiness of the Transferee Borrower and the replacement guarantors and indemnitors shall be reasonably satisfactory to Lender; 
 (x) The proposed property manager and proposed Management Agreement shall be reasonably satisfactory to Lender and the applicable Rating Agencies; and

 (xi) If any Approved Mezzanine Loan is outstanding at the time of the Transfer and Assumption, the proposed Transfer and Assumption shall
not constitute or cause a default under the Approved Mezzanine Loan Documents. 
 (c) If Lender consents to the Transfer and Assumption, the
Transferee Borrower and/or Borrower as the case may be, shall immediately deliver the following to Lender: 
 (i) Borrower shall deliver to
Lender an assumption fee in the amount of 0.25% of the then unpaid Principal (provided, that no assumption fee shall be payable in connection with the first Transfer and Assumption); 
 (ii) Borrower, Transferee Borrower and the original and replacement guarantors and indemnitors shall execute and deliver to Lender any and all documents
required by Lender, in form and substance required by Lender, in Lender’s reasonable discretion; 
 (iii) Counsel to the Transferee
Borrower and replacement guarantors and indemnitors shall deliver to Lender opinions in form and substance satisfactory to Lender as to such matters as Lender shall reasonably require, which may include opinions as to substantially the same matters
and were required in connection with the origination of the Loan (including a new substantive non-consolidation opinion with respect to the Transferee Borrower); 
 (iv) Borrower shall cause to be delivered to Lender, an endorsement (relating to the change in the identity of the vestee and execution and delivery of the Transfer and Assumption documents) to the Title Insurance
Policies in form and substance acceptable to Lender, in Lender’s reasonable discretion (the “Endorsement”); and 
 (v) Borrower shall deliver to Lender a payment in the amount of all remaining unpaid costs incurred by Lender in connection with the Transfer and Assumption, including but not limited to, Lender’s reasonable attorneys fees and
expenses, all recording fees, and all fees payable to the title company for the delivery to Lender of the Endorsement. 
  

 52 

 (d) Upon the closing of a Transfer and Assumption, Lender shall release Borrower from all obligations
under the Loan Documents arising prior to and after the date of the Transfer and Assumption (but only to the extent that such obligations of Borrower are expressly assumed by the Transferee Borrower, the Replacement Guarantor (if applicable) or any
other replacement guarantor, as the case may be, in connection with the Transfer and Assumption) Without limiting the generality of the foregoing, a Transfer and Assumption shall release Borrower and TPG/CalSTRS from any obligations under the Pledge
Agreement. Additionally, in the event that Borrower has prepaid a portion of the Loan in accordance with Section 2.3.4(b), then a Transfer and Assumption shall release Borrower and the BMC Space Master Lease Tenant from any obligations under
Section 5.10.5. 
 5.27 Liens. Without Lender’s prior written consent, Borrower shall not create, incur, assume,
permit or suffer to exist any Lien on all or any portion of the Property or any direct or indirect legal or beneficial ownership interest in Borrower or the SPE Party, except Liens in favor of Lender and Permitted Encumbrances, unless such Lien is
bonded or discharged within thirty (30) days after Borrower first receives notice of such Lien. 
 5.28 Dissolution.
Borrower shall not (i) to the fullest extent permitted by applicable law, engage in any dissolution, liquidation or consolidation or merger with or into any other business entity, (ii) engage in any business activity not related to the
ownership and operation of the Property or (iii) transfer, lease or sell, in one transaction or any combination of transactions, all or substantially all of the property or assets of Borrower except to the extent expressly permitted by the Loan
Documents. 
 5.29 Expenses. Borrower shall reimburse Lender upon receipt of notice for all reasonable out-of-pocket
costs and expenses (including reasonable attorneys’ fees and disbursements) reasonably incurred by Lender in connection with the Loan (or any portion thereof) (but excluding any costs and expenses incurred by Lender due to Lender’s or its
agents’ willful misconduct, gross negligence or breach of its obligations (if any) hereunder), including (i) the preparation, negotiation, execution and delivery of the Loan Documents and the consummation of the transactions contemplated
thereby and all the costs of furnishing all opinions (other than the non-consolidation opinion prepared by Lender’s counsel) by counsel for Borrower; (ii) Borrower’s ongoing performance under and compliance with the Loan Documents,
including confirming compliance with environmental and insurance requirements; (iii) the negotiation, preparation, execution, delivery and administration of any consents, amendments, waivers or other modifications of or under any Loan Document
and any other documents or matters requested by Borrower; (iv) filing and recording of any Loan Documents; (v) title insurance, surveys, inspections and appraisals (provided Lender delivers copies of the same to Borrower); (vi) the
creation, perfection or protection of Lender’s Liens in the Property and the Cash Management Accounts (including fees and expenses for title and lien searches, intangibles taxes, personal property taxes, mortgage recording taxes, due diligence
expenses, travel expenses, accounting firm fees, costs of appraisals, environmental reports and Lender’s Consultant, surveys and engineering reports); (vii) enforcing or preserving any rights in response to third party claims or the
prosecuting or defending of any action or proceeding or other litigation, in each case against, under or affecting Borrower, the Loan Documents, the Property, or any other security given for the Loan; (viii) fees charged by Servicer or the
Rating Agencies in connection with any modification of the Loan requested by Borrower and (ix) enforcing any 
  

 53 

 obligations of or collecting any payments due from Borrower under any Loan Document or with respect to the Property or in
connection with any refinancing or restructuring of the Loan in the nature of a “work-out”, or any insolvency or bankruptcy proceedings. Notwithstanding anything to the contrary contained herein, it is expressly understood and agreed that
no fees will be charged by Lender or Servicer (other than actual out-of-pocket costs and expenses) in connection with the review or approval of any subordination, non-disturbance and attornment agreement to be obtained from any tenant(s) at the
Property, provided that the same is on Lender’s then standard form. Any costs and expenses due and payable by Borrower hereunder which are not paid by Borrower within ten (10) Business Days after written demand may be paid from any amounts
in the Deposit Account, with notice thereof to Borrower. The obligations and liabilities of Borrower under this Section 5.29 shall survive the Term and the exercise by Lender of any of its rights or remedies under the Loan Documents,
including the acquisition of the Property by foreclosure or a conveyance in lieu of foreclosure. 
 5.30 Indemnity. BORROWER
SHALL DEFEND, INDEMNIFY AND HOLD HARMLESS LENDER AND EACH OF ITS AFFILIATES AND THEIR RESPECTIVE SUCCESSORS AND ASSIGNS, INCLUDING THE DIRECTORS, OFFICERS, PARTNERS, MEMBERS, SHAREHOLDERS, PARTICIPANTS, EMPLOYEES, PROFESSIONALS AND AGENTS OF ANY OF
THE FOREGOING (INCLUDING ANY SERVICER) AND EACH OTHER PERSON, IF ANY, WHO CONTROLS LENDER, ITS AFFILIATES OR ANY OF THE FOREGOING (EACH, AN “INDEMNIFIED PARTY”), FROM AND AGAINST ANY AND ALL LIABILITIES, OBLIGATIONS,
LOSSES, DAMAGES, PENALTIES, ACTIONS, JUDGMENTS, SUITS, CLAIMS, COSTS, EXPENSES AND DISBURSEMENTS OF ANY KIND OR NATURE WHATSOEVER (INCLUDING THE REASONABLE FEES AND DISBURSEMENTS OF COUNSEL FOR AN INDEMNIFIED PARTY IN CONNECTION WITH ANY
INVESTIGATIVE, ADMINISTRATIVE OR JUDICIAL PROCEEDING COMMENCED OR THREATENED, WHETHER OR NOT LENDER SHALL BE DESIGNATED A PARTY THERETO, COURT COSTS AND COSTS OF APPEAL AT ALL APPELLATE LEVELS, INVESTIGATION AND LABORATORY FEES, CONSULTANT FEES AND
LITIGATION EXPENSES), THAT MAY BE IMPOSED ON, INCURRED BY, OR ASSERTED AGAINST ANY INDEMNIFIED PARTY (COLLECTIVELY, THE “INDEMNIFIED LIABILITIES”) IN ANY MANNER, RELATING TO OR ARISING OUT OF OR BY REASON OF THE LOAN,
INCLUDING: (I) ANY BREACH BY BORROWER OF ITS OBLIGATIONS UNDER, OR ANY MISREPRESENTATION BY BORROWER CONTAINED IN, ANY LOAN DOCUMENT; (II) THE USE OR INTENDED USE OF THE PROCEEDS OF THE LOAN; (III) ANY INFORMATION PROVIDED BY OR ON
BEHALF OF BORROWER, OR CONTAINED IN ANY DOCUMENTATION APPROVED BY BORROWER; (IV) OWNERSHIP OF THE MORTGAGE, THE PROPERTY OR ANY INTEREST THEREIN, OR RECEIPT OF ANY RENTS; (V) ANY ACCIDENT, INJURY TO OR DEATH OF PERSONS OR LOSS OF OR DAMAGE
TO PROPERTY OCCURRING IN, ON OR ABOUT THE PROPERTY OR ON THE ADJOINING SIDEWALKS, CURBS, ADJACENT PROPERTY OR ADJACENT PARKING AREAS, STREETS OR WAYS; (VI) ANY USE, NONUSE OR CONDITION IN, ON OR ABOUT THE PROPERTY OR ON ADJOINING SIDEWALKS,
CURBS, ADJACENT PROPERTY OR ADJACENT PARKING AREAS, STREETS OR WAYS; (VII) PERFORMANCE OF ANY LABOR OR SERVICES OR THE 
  

 54 

 FURNISHING OF ANY MATERIALS OR OTHER PROPERTY IN RESPECT OF THE PROPERTY; (VIII) THE PRESENCE, DISPOSAL, ESCAPE,
SEEPAGE, LEAKAGE, SPILLAGE, DISCHARGE, EMISSION, RELEASE, OR THREATENED RELEASE OF ANY HAZARDOUS SUBSTANCE ON, FROM OR AFFECTING THE PROPERTY; (IX) ANY PERSONAL INJURY (INCLUDING WRONGFUL DEATH) OR PROPERTY DAMAGE (REAL OR PERSONAL)
ARISING OUT OF OR RELATED TO SUCH HAZARDOUS SUBSTANCE; (X) ANY LAWSUIT BROUGHT OR THREATENED, SETTLEMENT REACHED, OR GOVERNMENT ORDER RELATING TO SUCH HAZARDOUS SUBSTANCE; (XI) ANY VIOLATION OF THE ENVIRONMENTAL LAWS WHICH IS BASED UPON OR
IN ANY WAY RELATED TO SUCH HAZARDOUS SUBSTANCE, INCLUDING THE COSTS AND EXPENSES OF ANY REMEDIAL WORK; (XII) ANY FAILURE OF THE PROPERTY TO COMPLY WITH ANY LEGAL REQUIREMENT; (XIII) ANY CLAIM BY BROKERS, FINDERS OR SIMILAR PERSONS CLAIMING
TO BE ENTITLED TO A COMMISSION IN CONNECTION WITH ANY LEASE OR OTHER TRANSACTION INVOLVING THE PROPERTY OR ANY PART THEREOF, OR ANY LIABILITY ASSERTED AGAINST LENDER WITH RESPECT THERETO; AND (XIV) THE CLAIMS OF ANY LESSEE OF ANY PORTION OF THE
PROPERTY OR ANY PERSON ACTING THROUGH OR UNDER ANY LESSEE OR OTHERWISE ARISING UNDER OR AS A CONSEQUENCE OF ANY LEASE, IN ALL CASES, WHETHER OR NOT CAUSED BY, OR ARISING, IN WHOLE OR IN PART, OUT OF COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF
THE INDEMNIFIED PARTY; PROVIDED, HOWEVER, THAT BORROWER SHALL NOT HAVE ANY OBLIGATION TO ANY INDEMNIFIED PARTY HEREUNDER TO THE EXTENT THAT IT IS FINALLY JUDICIALLY DETERMINED THAT SUCH INDEMNIFIED LIABILITIES ARISE FROM THE GROSS NEGLIGENCE,
ILLEGAL ACTS, FRAUD OR WILLFUL MISCONDUCT OF SUCH INDEMNIFIED PARTY. ANY AMOUNTS PAYABLE TO ANY INDEMNIFIED PARTY BY REASON OF THE APPLICATION OF THIS PARAGRAPH SHALL BE PAYABLE ON DEMAND AND SHALL BEAR INTEREST AT THE DEFAULT RATE FROM THE DATE
LOSS OR DAMAGE IS SUSTAINED BY ANY INDEMNIFIED PARTY UNTIL PAID. THE OBLIGATIONS AND LIABILITIES OF BORROWER UNDER THIS SECTION 5.30 SHALL SURVIVE THE TERM AND THE EXERCISE BY LENDER OF ANY OF ITS RIGHTS OR REMEDIES UNDER THE LOAN
DOCUMENTS, INCLUDING THE ACQUISITION OF THE PROPERTY BY FORECLOSURE OR A CONVEYANCE IN LIEU OF FORECLOSURE. NOTWITHSTANDING THE FOREGOING, HOWEVER, BORROWER SHALL NOT BE OBLIGATED TO INDEMNIFY ANY INDEMNIFIED PARTY FOR ANY EVENT OR CONDITION, THAT
FIRST ARISES ON OR AFTER THE DATE ON WHICH LENDER (OR ITS TRANSFEREE) ACQUIRES TITLE OR CONTROL OF THE PROPERTY (WHETHER AT FORECLOSURE SALE, CONVEYANCE IN LIEU OF FORECLOSURE OR SIMILAR TRANSFER) OR AFTER A RECEIVER HAS BEEN APPOINTED FOR THE
PROPERTY; PROVIDED THAT BORROWER’S OBLIGATION TO INDEMNIFY THE INDEMNIFIED PARTIES WITH RESPECT TO AN EVENT OR CONDITION SPECIFIED IN CLAUSES (VIII) THROUGH (XI) ABOVE SHALL CONTINUE IN PERPETUITY AFTER LENDER (OR ITS
TRANSFEREE) ACQUIRES TITLE OR CONTROL OF THE PROPERTY UNLESS SUCH SPECIFIED 
  

 55 

 EVENT OR CONDITION OCCURS DURING LENDER’S PERIOD OF OWNERSHIP AND PROVIDED THAT BORROWER SHALL BEAR THE BURDEN OF
PROVING THAT SUCH SPECIFIED EVENT OR CONDITION OCCURRED DURING LENDER’S PERIOD OF OWNERSHIP. 
 5.31 Patriot Act
Compliance. (a) Borrower will use its good faith and commercially reasonable efforts to comply with the Patriot Act (as defined below) and all applicable requirements of governmental authorities having jurisdiction over Borrower and the
Property, including those relating to money laundering and terrorism. Lender shall have the right to audit Borrower’s compliance with the Patriot Act and all applicable requirements of governmental authorities having jurisdiction over Borrower
and the Property, including those relating to money laundering and terrorism. In the event that Borrower fails to comply with the Patriot Act or any such requirements of governmental authorities, then Lender may, at its option (after 10 days prior
written notice to Borrower), cause Borrower to comply therewith and any and all reasonable costs and expenses incurred by Lender in connection therewith shall be secured by the Mortgage and the other Loan Documents and shall be immediately due and
payable. For purposes hereof, the term “Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as the
same may be amended from time to time, and corresponding provisions of future laws. 
 (b) Neither Borrower nor any partner in Borrower or
member of such partner nor any owner of a direct or indirect interest in Borrower (other than shareholders having less than a twenty-five percent (25%) economic interest in TPG) (a) is listed on any Government Lists (as defined below),
(b) is a person who has been determined by competent authority to be subject to the prohibitions contained in Presidential Executive Order No. 13224 (Sept. 23, 2001) or any other similar prohibitions contained in the rules and regulations
of OFAC (as defined below) or in any enabling legislation or other Presidential Executive Orders in respect thereof, (c) has been previously indicted for or convicted of any felony involving a crime or crimes of moral turpitude or for any
Patriot Act Offense (as defined below), or (d) is currently under investigation by any governmental authority for alleged criminal activity. For purposes hereof, the term “Patriot Act Offense” means any violation of the
criminal laws of the United States of America or of any of the several states, or that would be a criminal violation if committed within the jurisdiction of the United States of America or any of the several states, relating to terrorism or the
laundering of monetary instruments, including any offense under (a) the criminal laws against terrorism; (b) the criminal laws against money laundering, (c) the Bank Secrecy Act, as amended, (d) the Money Laundering Control Act
of 1986, as amended, or the (e) Patriot Act. “Patriot Act Offense” also includes the crimes of conspiracy to commit, or aiding and abetting another to commit, a Patriot Act Offense. For purposes hereof, the term “Government
Lists” means (i) the Specially Designated Nationals and Blocked Persons Lists maintained by Office of Foreign Assets Control (“OFAC”), (ii) any other list of terrorists, terrorist organizations or
narcotics traffickers maintained pursuant to any of the Rules and Regulations of OFAC that Lender notified Borrower in writing is now included in “Governmental Lists”, or (iii) any similar lists maintained by the United States
Department of State, the United States Department of Commerce or any other government authority or pursuant to any Executive Order of the President of the United States of America that Lender notified Borrower in writing is now included in
“Governmental Lists”. 
  

 56 

 5.32 REA. 
 (a) Borrower shall (i) diligently perform and observe all of the material terms, covenants and conditions of the REA on the part of Borrower to be
performed and observed, (ii) promptly notify Lender of any default under the REA and (iii) diligently enforce all of the material obligations of other parties under the REA. If Borrower shall default in the performance or observance of any
term, covenant or condition of the REA on its part to be performed or observed beyond any applicable grace or cure period, then, without limiting Lender’s other rights or remedies under this Agreement or the other Loan Documents, and without
waiving or releasing Borrower from any of their obligations hereunder or under the REA, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be reasonably appropriate to cause all the terms,
covenants and conditions of the REA on the part of Borrower to be performed or observed, but such performance by Lender shall not be deemed a cure of any Default or Event of Default arising by reason of Borrower’s breach of the REA. 

(b) Borrower shall not (i) modify any of Sections 3.3, 4.1, 5.1(a), 5.2, 5.3, 8.1, 8.2, 9.1, 11.2, 11.3, 11.4, 11.9 or 11.12 of the REA (and
Borrower shall be permitted to modify any other provisions of the REA; provided that the same does not materially effect any of Lender’s rights under the REA or materially increase any of Borrower’s obligations under the REA), or
(ii) terminate the REA, in each case without the express written consent of Lender. Any action taken in violation of the foregoing without the prior express written consent of Lender shall be void and of no force and effect. 
 6. NOTICES AND REPORTING 
 6.1
Notices. All notices, consents, approvals and requests required or permitted hereunder or under any other Loan Document (a “Notice”) shall be given in writing and shall be effective for all purposes if either
hand delivered with receipt acknowledged, or by a nationally recognized overnight delivery service (such as Federal Express), or by certified or registered United States mail, return receipt requested, postage prepaid, or by facsimile and confirmed
by facsimile answer back, in each case addressed as follows (or to such other address or Person as a party shall designate from time to time by notice to the other party): If to Lender: Greenwich Capital Financial Products, Inc., 600 Steamboat Road,
Greenwich, Connecticut 06830, Attention: Mortgage Loan Department, Telecopier (203) 618-2052, with a copy to: Kaye Scholer LLP, 425 Park Avenue, New York, New York 10022, Attention: Stephen Gliatta, Esq., Telecopier: (212) 836-8689; if to
Borrower: c/o Thomas Properties Group, Inc., City National Plaza, 515 South Flower Street, Sixth Floor, Los Angeles, California 90071, Attention: Todd L. Merkle, Telecopier: (213) 633-4760, with a copy to: Cox Castle & Nicholson, LLP,
2049 Century Park East, 28th Floor, Los Angeles, California 90067-3284, Attention: Douglas P. Snyder, Telecopier:
(310) 277-7889. A notice shall be deemed to have been given: in the case of hand delivery, at the time of delivery; in the case of registered or certified mail, when delivered or the first attempted delivery on a Business Day; in the case of
overnight delivery, upon the first attempted delivery on a Business Day; or in the case of facsimile, upon the confirmation of such facsimile transmission. 
 6.2 Borrower Notices and Deliveries. Borrower shall (a) give prompt written notice to Lender of: (i) any litigation, governmental proceedings or claims or investigations pending or 

 

 57 

 threatened against Borrower or the SPE Party which might materially adversely affect Borrower’s or the SPE
Party’s condition (financial or otherwise) or business or the Property; (ii) any material adverse change in Borrower’s or the SPE Party’s condition, financial or otherwise, or of the occurrence of any Default or Event of Default
of which Borrower has knowledge; and (b) furnish and provide to Lender: (i) any Securities and Exchange Commission or other public filings, if any, of Borrower, the SPE Party, Manager, or any Affiliate of any of the foregoing within two
(2) Business Days of such filing and (ii) all instruments, documents, boundary surveys, footing or foundation surveys, certificates, plans and specifications, appraisals, title and other insurance reports and agreements, reasonably
requested, from time to time, by Lender. In addition, after request by Lender (but no more frequently than twice in any year), Borrower shall furnish to Lender (x) within ten (10) days, a certificate addressed to Lender, its successors and
assigns reaffirming all representations and warranties of Borrower set forth in the Loan Documents as of the date requested by Lender or, to the extent of any changes to any such representations and warranties, so stating such changes, and
(y) within thirty (30) days, tenant estoppel certificates addressed to Lender, its successors and assigns from each tenant at the Property in form and substance reasonably satisfactory to Lender. 
 6.3 Financial Reporting. 
 6.3.1 Bookkeeping. Borrower shall keep on a calendar year basis, in accordance with GAAP or federal income tax accounting principles, consistently applied, proper and accurate books, records and accounts reflecting all of the
financial affairs of Borrower and all items of income and expense and any services, Equipment or furnishings provided in connection with the operation of the Property, whether such income or expense is realized by Borrower, Manager or any Affiliate
of Borrower. Lender shall have the right from time to time during normal business hours upon reasonable notice to examine such books, records and accounts at the office of Borrower or other Person maintaining them, and to make such copies or
extracts thereof as Lender shall desire. After an Event of Default, Borrower shall pay any costs incurred by Lender to examine such books, records and accounts, as Lender shall determine to be necessary or appropriate in the protection of
Lender’s interest. 
 6.3.2 Annual Reports. Borrower shall furnish to Lender annually, within 120 days after each calendar
year, a complete copy of Borrower’s annual financial statements audited by a “big four” accounting firm or another independent certified public accountant (accompanied by an unqualified opinion from such accounting firm or other
independent certified public accountant) reasonably acceptable to Lender, each in accordance with GAAP or federal income tax accounting principles, consistently applied, and containing balance sheets and statements of profit and loss for Borrower
and the Property in such detail as Lender may request. Each such statement (x) shall be in form and substance satisfactory to Lender, (y) shall set forth the financial condition and the income and expenses for the Property for the
immediately preceding calendar year, including statements of annual Net Operating Income as well as identifying in the footnotes of the financial statements any tenants that account for more than 10% of the reported revenue of the Property and
(z) shall be accompanied by an Officer’s Certificate certifying (1) that such statement is true, correct, complete and accurate and presents fairly the financial condition of the Property and has been prepared in accordance with GAAP
or federal income tax accounting principles, consistently applied, and (2) whether there exists a Default or Event of Default, and if so, the nature thereof, the period of time it has existed and the action then being taken to remedy it.

  

 58 

 6.3.3 Quarterly Reports. Borrower shall furnish to Lender within 45 days after the end of
each calendar quarter (as indicated below) the following items: (i) quarterly and year-to-date operating statements, noting Net Operating Income and other information necessary and sufficient under GAAP or federal income tax accounting
principles, consistently applied, to fairly represent the financial position and results of operation of the Property during such calendar month, all in form satisfactory to Lender; (ii) a balance sheet for such calendar quarter; (iii) a
comparison of the budgeted income and expenses and the actual income and expenses for the current month and year-to-date for the Property, together with a detailed explanation of any variances of the greater of (x) $10,000 and (y) ten
percent (10%) or more between budgeted and actual amounts for such period and year-to-date; (iv) a statement of the actual Capital Expenses made by Borrower during each calendar quarter as of the last day of such calendar quarter;
(v) to the extent not already disclosed by operating statements delivered pursuant to this Section 6.3.3, a statement that Borrower has not incurred any indebtedness other than indebtedness permitted hereunder; (vi) an aged
receivables report, (vii) rent rolls identifying the leased premises, names of all tenants, units leased, monthly rental and all other charges payable under each Lease, term of Lease and date of expiration, (viii) a year-by-year schedule
showing the rentable area of the Improvements and the total base rent attributable to Leases expiring each year. Each such statement shall be accompanied by an Officer’s Certificate certifying (1) that such items are true, correct,
accurate, and complete and fairly present the financial condition and results of the operations of Borrower and the Property in accordance with GAAP or federal income tax accounting principles, consistently applied, (subject to normal year-end
adjustments) and (2) whether there exists a Default or Event of Default, and if so, the nature thereof, the period of time it has existed and the action then being taken to remedy it and (ix) during a Cash Management Period, a
reconciliation of Operating Expenses identifying those funds which were disbursed to Borrower from the Operating Expense Subaccount during the prior calendar quarter which have not been used to pay Approved Operating Expenses. 
 6.3.4 Monthly Reports. Prior to the securitization of the Loan, Borrower shall furnish to Lender within thirty (30) days after the end
of each calendar month, the following items: (i) monthly and year-to-date operating statements, noting Net Operating Income and other information necessary and sufficient under GAAP or federal income tax accounting principles, consistently
applied, to fairly represent the financial position and results of operation of the Property during such calendar month, all in form satisfactory to Lender; (ii) an aged receivables report and (iii) rent rolls identifying the leased
premises, names of all tenants, units leased, monthly rental and all other charges payable under each Lease, term of Lease and date of expiration. Each such statement shall be accompanied by an Officer’s Certificate certifying (1) that
such items are true, correct, accurate, and complete and fairly present the financial condition and results of the operations of Borrower and the Property in accordance with GAAP or federal income tax accounting principles, consistently applied,
(subject to normal year-end adjustments) and (2) whether there exists a Default or Event of Default, and if so, the nature thereof, the period of time it has existed and the action then being taken to remedy it. 
 6.3.5 Other Reports. Borrower shall furnish to Lender, within ten (10) Business Days after request, such further detailed information
with respect to the operation of the Property and the financial affairs of Borrower, the SPE Party or Manager as may be reasonably requested by Lender or any applicable Rating Agency. 
  

 59 

 6.3.6 Annual Budget. Borrower shall prepare and submit (or shall cause Manager to prepare
and submit) to Lender within thirty (30) days after a Cash Management Period and by November 30th of each
year thereafter during the Term until such Cash Management Period has ended, for approval by Lender, which approval shall not be unreasonably withheld, conditioned or delayed, a proposed pro forma budget for the Property for the succeeding calendar
year (the “Annual Budget”, and each Annual Budget approved (or deemed approved pursuant to the terms of this Section 6.3.6) by Lender is referred to herein as the “Approved Annual
Budget”)), and, promptly after preparation thereof, any revisions to such Annual Budget. Lender’s failure to approve or disapprove any Annual Budget or revision within thirty (30) days after Lender’s receipt thereof shall
be deemed to constitute Lender’s approval thereof. The Annual Budget shall consist of (i) an operating expense budget showing, on a month-by-month basis, in reasonable detail, each line item of the Borrower’s anticipated operating
income and operating expenses (on an accrual basis), including amounts required to establish, maintain and/or increase any monthly payments required hereunder (and once such Annual Budget has been approved (or deemed approved pursuant to the terms
of this Section 6.3.6) by Lender, such operating expense budget shall be referred to herein as the “Approved Operating Budget”), and (ii) a Capital Expense budget showing, on a month-by-month basis, in
reasonable detail, each line item of anticipated Capital Expenses (and once such Annual Budget has been approved (or deemed approved pursuant to the terms of this Section 6.3.6) by Lender, such Capital Expense budget shall be referred to
herein as the “Approved Capital Budget”). Until such time that any Annual Budget has been approved (or deemed to have been approved) by Lender, the prior Approved Annual Budget shall apply for all purposes hereunder (with
such adjustments as reasonably determined by Lender (including increases for any non-discretionary expenses)). 
 6.3.7 Breach.
If Borrower fails to provide to Lender or its designee any of the financial statements, certificates, reports or information (the “Required Records”) required by this Article 6 within thirty (30) days after the
date upon which such Required Record is due, Borrower shall pay to Lender, at Lender’s option and in its discretion, an amount equal to $200.00 per day for each Required Record that is not delivered; provided Lender has given Borrower at least
fifteen (15) days prior written notice of such failure. In addition, thirty (30) days after Borrower’s failure to deliver any Required Records, Lender shall have the option, upon fifteen (15) days written notice to Borrower to
gain access to Borrower’s books and records and prepare or have prepared at Borrower’s expense, any Required Records not delivered by Borrower. 
 7. INSURANCE; CASUALTY; AND CONDEMNATION 
 7.1 Insurance. 
 7.1.1 Coverage. Borrower, at its sole cost, for the mutual benefit of Borrower and Lender, shall obtain and maintain during the Term the
following policies of insurance: 
  

 60 

 (a) Property insurance insuring against loss or damage customarily included under so called “all
risk” or “special form” policies including fire, lightning, vandalism, and malicious mischief, boiler and machinery and, if required by Lender, flood and/or earthquake coverage and subject to subsection (k) below, coverage for
damage or destruction caused by the acts of “Terrorists” (or such policies shall have no exclusion from coverage with respect thereto) and such other insurable hazards as, under good insurance practices, from time to time are insured
against for other property and buildings similar to the premises in nature, use, location, height, and type of construction. Such insurance policy shall also insure for ordinance of law coverage, loss of replacement cost value due to non-conforming
use, costs of demolition and increased cost of construction in amounts satisfactory to Lender. Each such insurance policy shall for all perils other than Tier 1 Wind and flood (i) be in an amount equal to 100% of the then replacement cost of
the Improvements without deduction for physical depreciation, (ii) have deductibles no greater than the lesser of $50,000 or five percent (5%) of Net Operating Income per occurrence (except for earthquake coverage, if required, and
terrorism coverage as described under subsection (k) below, each of which shall have deductibles in an amount satisfactory to Lender), (iii) be paid annually in advance and (iv) be on a replacement cost basis and contain either no
coinsurance or, an Agreed Amount endorsement, and shall cover, without limitation, all tenant improvements and betterments that Borrower is required to insure on a replacement cost basis. Lender shall be named Mortgagee and Loss Payee on a Standard
Mortgagee Endorsement. 
 (b) Flood insurance if any part of the Property is located in an area now or hereafter designated by the Federal
Emergency Management Agency as a Zone “A” & “V” Special Hazard Area, or such other Special Hazard Area if Lender so requires in its sole discretion. Provided such coverage is commercially available for comparable
properties in the same geographic area as the Property, such policy shall be in an amount equal to the lesser of (1) 20% of the insured value of each building comprising the Property or (2) such other amount as is approved by Lender.

 (c) Windstorm insurance if any part of the Property is located in an area now or hereafter designated as a Tier 1 Wind zone. Provided such
coverage is commercially available, such policy shall be in an amount equal to at least $213,400,000 (which represents the original principal amount of the Loan plus the aggregate principal amount of the Other Loan) or such lesser amount as is
approved by Lender, and having deductibles no greater than 5% of total insured value, subject to a $100,000 minimum deductible. In the event that such coverage with respect to Tier 1 Wind is not included as part of the “all risk” property
policy required by this subsection, Borrower shall, nevertheless be required to obtain coverage for windstorm (as stand alone coverage) in an amount equal to $213,400,000 (which represents the original principal amount of the Loan plus the aggregate
principal amount of the Other Loan) or such lesser amount as is approved by Lender; provided that such coverage is commercially available for comparable properties in the same geographic area as the Property. Notwithstanding the foregoing, Lender
agrees that in the event that the Rating Agencies establish criteria for windstorm coverage (relating to properties in the same geographic area as the Property, and secured by loans comparable to the Loan for the securitization market) that require
less coverage than that described above, then Lender agrees that Borrower may avail itself to such lesser coverage, provided the same is reasonably acceptable to Lender. 
  

 61 

 (d) Public liability insurance, including (i) ”Commercial General Liability Insurance”,
(ii) ”Owned”, “Hired” and “Non Owned Auto Liability”; and (iii) umbrella liability coverage for personal injury, bodily injury, death, accident and property damage, such insurance providing in combination no
less than containing minimum limits per occurrence of $1,000,000 and $2,000,000 in the aggregate for any policy year with no deductible or self insured retention; together with at least $50,000,000 excess and/or umbrella liability insurance for any
and all claims. The policies described in this subsection shall also include coverage for elevators, escalators, independent contractors, “Contractual Liability” (covering, to the maximum extent permitted by law, Borrower’s obligation
to indemnify Lender as required under this Agreement and the other Loan Documents), “Products” and “Completed Operations Liability” coverage. Notwithstanding the foregoing, Borrower may elect to convert to a self-insured
retention or deductible program for general liability coverage in the future, subject to Lender’s prior approval, not to be unreasonably withheld, conditioned or delayed; provided, however that the self-insured retention or deductible for
general liability coverage is not to exceed $100,000 per occurrence subject to a $500,000 maximum, and this deductible to be initially funded with a Letter of Credit in the amount of $200,000, held and administrated by the carrier. Once the first
$200,000 is exhausted additional Letters of Credit must be continually posted until the $500,000 maximum deductible is exhausted. 
 (e)
Rental loss and/or business interruption insurance (i) with Lender being named as “Lender Loss Payee”, (ii) in an amount equal to 100% of the projected Rents from the Property during an eighteen (18) month period; and
(iii) providing payment for the initial period of restoration followed by an extended period of indemnity endorsement which provides that after the physical loss to the Property has been repaired, the continued loss of income will be insured
until such income either returns to the same level it was at prior to the loss, or the expiration of six (6) months from the date that the Property is repaired or replaced and operations are resumed, whichever first occurs, and notwithstanding
that the policy may expire prior to the end of such period. The amount of such insurance shall be increased from time to time during the Term as and when the estimated or actual Rents increase. 
 (f) If the Borrower installs high pressure boilers at the Property, comprehensive boiler and machinery insurance covering all mechanical and electrical
equipment against physical damage, rent loss and improvements loss and covering, without limitation, all tenant improvements and betterments that Borrower is required to insure pursuant to the leases on a replacement cost basis and in an amount
equal to 100% of the full replacement cost of the Equipment on such Property (without any deduction for depreciation). All losses for resulting damage to building Improvements are to be paid under the Borrower’s manuscripted property policy
form. Under the terms and conditions of the current insurance program only damage to Equipment will be paid under the boiler & machinery policy. 
 (g) Worker’s compensation and disability insurance with respect to any employees of Borrower, as required by any Legal Requirement. 
 (h) To the extent not covered by the coverage required under Section 7.1.1(a) above, during any period of repair or restoration, builder’s “all-risk” insurance on the so called completed
value basis in an amount equal to not less than the full insurable value of the Property, against such risks (including fire and extended coverage and collapse of the Improvements to agreed limits) as Lender may reasonably request, in form and
substance acceptable to Lender. 
  

 62 

 (i) Ordinance and Law coverage to compensate for loss of value to the undamaged portion of the Property
due to a legal non-conforming use, the cost of demolition and debris removal, and the increased cost of construction, in an amount satisfactory to Lender. 
 (j) Such other insurance (including earthquake insurance, mine subsidence insurance and windstorm insurance) as may from time to time be reasonably required by Lender in order to protect its interests; provided that
such coverage is customarily required by institutional lenders originating first mortgage loans for the securitization market for comparable properties in the same geographic location as the Property. Notwithstanding anything to the contrary
contained herein, Borrower agrees that the Policies in place at closing and upon any renewals of the same, shall include coverage for land movement and/or property damage resulting from the creeping fault line running underneath a portion of the
Property (as described in the Physical Condition Report delivered to Lender in connection with the Loan), and the minimum sublimit required for this coverage is $25,000,000. 
 (k) Notwithstanding anything in subsection (a) above to the contrary, Borrower shall be required to obtain and maintain coverage in its property
insurance Policy (or by a separate Policy) against loss or damage by terrorist acts in an amount equal to 100% of the “Full Replacement Cost” of the Property; provided that such coverage is commercially available. In the event that such
coverage with respect to terrorist acts is not included as part of the “all risk” property policy required by subsection (a) above, Borrower shall, nevertheless be required to obtain coverage for terrorism (as stand alone coverage) in
an amount equal to 100% of the “Full Replacement Cost” of the Property; provided that such coverage is available. Notwithstanding the foregoing, with respect to any such stand-alone policy covering terrorist acts, Borrower shall not be
required to pay any Insurance Premiums solely with respect to such terrorism coverage in excess of the Terrorism Premium Cap (hereinafter defined); provided that if the Insurance Premiums payable with respect to such terrorism coverage exceeds the
Terrorism Premium Cap, Lender may, at its option (1) purchase such stand-alone terrorism Policy, with Borrower paying such portion of the Insurance Premiums with respect thereto equal to the Terrorism Premium Cap and the Lender paying such
portion of the Insurance Premiums in excess of the Terrorism Premium Cap or (2) modify the deductible amounts, policy limits and other required policy terms to reduce the Insurance Premiums payable with respect to such stand-alone terrorism
Policy to the Terrorism Premium Cap. As used herein, (i) “Terrorism Premium Cap” means an amount equal to 150% of the aggregate Insurance Premiums payable with respect to all the insurance coverage under
Section 7.1.1(a) above for the last policy year in which coverage for terrorism was included as part of the “all risk” (excluding earthquake, tier 1 wind and Flood insurance) property policy required by subsection
(a) above, adjusted annually by a percentage equal to the increase in the Consumer Price Index (hereinafter defined) and (ii) “Consumer Price Index” means the Consumer Price Index for All Urban Consumers published
by the Bureau of Labor Statistics of the United States Department of Labor, New York Metropolitan Statistical Area, All Items (1982-84 = 100), or any successor index thereto, approximately adjusted, and in the event that the Consumer Price Index is
converted to a different standard reference base or otherwise revised, the determination of adjustments provided for herein shall be made with the use of such conversion factor, formula or table for converting the Consumer Price Index as may

  

 63 

 be published by the Bureau of Labor Statistics or, if said Bureau shall not publish the same, then with the use of such
conversion factor, formula or table as may be published by Prentice-Hall, Inc., or any other nationally recognized publisher of similar statistical information; and if the Consumer Price Index ceases to be published, and there is no successor
thereto (i) such other index as Lender and Borrower shall agree upon in writing or (ii) if Lender and Borrower cannot agree on a substitute index, such other index, as reasonably selected by Lender. Borrower shall obtain the
coverage required under this subsection (k) from a carrier which otherwise satisfies the rating criteria specified in Section 7.1.2 below (a “Qualified Carrier”) or in the event that such coverage is not
available from a Qualified Carrier, Borrower shall obtain such coverage from the highest rated insurance company providing such coverage. 
 7.1.2 Policies. All policies of insurance (the “Policies”) required pursuant to Section 7.1.1 above shall (i) be issued by companies approved by Lender and authorized to do
business in the State, with a claims paying ability rating of “A-” or better by S&P (and the equivalent by any other Rating Agency), and a rating of A-:VIII or better in the current Best’s Insurance Reports (provided, however for
multi-layered policies, (A) if four (4) or less insurance companies issue the Policies, then at least 75% of the insurance coverage represented by the Policies must be provided by insurance companies with a claims paying ability rating of
“A-” or better by S&P (and the equivalent by any other Rating Agency), with no carrier below “BBB” (and the equivalent by any other Rating Agency) or (B) if five (5) or more insurance companies issue the Policies,
then at least sixty percent (60%) of the insurance coverage represented by the Policies must be provided by insurance companies with a claims paying ability rating of “A-” or better by S&P (and the equivalent by any other Rating
Agency), with no carrier below “BBB” (and the equivalent by any other Rating Agency), or (C) if thirty (30) or more insurance companies issue the Policies, then at least (60%) of the insurance coverage represented by the
Policies must be provided by insurance companies with a claims paying ability rating of “A-” or better by S&P (and the equivalent by any other Rating Agency), and no other carrier rating below “BBB” by S&P, except that up
to (2%) of carriers may have a carrier rating of AM Best’s A- IX or better, with no S&P rating; (ii) name Lender and its successors and/or assigns as their interest may appear as the mortgagee (in the case of property insurance),
loss payee (in the case of business interruption/loss of rents coverage) and an additional insured (in the case of liability insurance); (iii) contain (in the case of property insurance) a Non-Contributory Standard Mortgagee Clause and a
Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the person to which all payments made by such insurance company shall be paid; (iv) contain a waiver of all subrogation rights against Lender; (v) be assigned
and the originals thereof delivered to Lender; or, in lieu of delivering originals of the Policies, Borrower may, on an annual basis (and upon each renewal of the Policies), deliver Acord evidence of coverages (on Acord certificates acceptable to
Lender) as proof of coverage; provided, however, if at, any time, Lender requests carrier certified copies of the Policies representing the primary layers of insurance coverage, Borrower shall deliver such carrier certified copies
within ten (10) days of Lender’s request therefor; (vi) contain such provisions as Lender deems reasonably necessary or desirable to protect its interest, including (A) endorsements providing that neither Borrower, Lender nor any
other party shall be a co-insurer under the Policies, (B) that Lender shall receive at least (x) thirty (30) days’ prior written notice of any cancellation of any of the Policies and (y) ten (10) days’ prior
written notice for nonpayment of Insurance Premiums (and Borrower agrees to advise and obtain Lender’s approval for any material changes in the terms and conditions of any Policy, which approval shall not be unreasonably withheld),
(C) providing that Lender is 
  

 64 

 permitted to make payments to effect the continuation of such policy upon notice of cancellation due to non-payment of
premiums and (vii) in the event any insurance policy (except for general public and other liability and workers compensation insurance) shall contain breach of warranty provisions, such policy shall provide that with respect to the interest of
Lender, such insurance policy shall not be invalidated by and shall insure Lender regardless of (A) any act, failure to act or negligence of or violation of warranties, declarations or conditions contained in such policy by any named insured,
(B) the occupancy or use of the premises for purposes more hazardous than permitted by the terms thereof, or (C) any foreclosure or other action or proceeding taken by Lender pursuant to any provision of the Loan Documents. Borrower shall
pay the premiums for such Policies (the “Insurance Premiums”) as the same become due and payable and furnish to Lender evidence of the renewal of each of the Policies together with (unless such Insurance Premiums have been
paid by Lender pursuant to Section 3.3 hereof) receipts for or other evidence of the payment of the Insurance Premiums reasonably satisfactory to Lender. If Borrower does not furnish such evidence and receipts at least ten (10) days
prior to the expiration of any expiring Policy, then Lender may, but shall not be obligated to, procure such insurance and pay the Insurance Premiums therefor, and Borrower shall reimburse Lender for the cost of such Insurance Premiums promptly on
demand, with interest accruing at the Default Rate. Borrower shall deliver to Lender at closing and upon each renewal of the Policies, proof of the insurance coverages required hereunder on Acord certificates acceptable to Lender;
provided, however, if at, any time, Lender requests carrier certified copies of the Policies representing the primary layers of insurance coverage, Borrower shall deliver such carrier certified copies within ten (10) days of
Lender’s request therefor. Within thirty (30) days after request by Lender, Borrower shall obtain such increases in the amounts of coverage required hereunder as may be reasonably requested by Lender, taking into consideration changes in
the value of money over time, changes in liability laws, changes in prudent customs and practices, and the like. 
 7.2
Casualty. 
 7.2.1 Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by
fire or other casualty (a “Casualty”), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available (unless Lender has breached
its obligation (if any) to make such insurance proceeds available pursuant to Section 7.4.1), shall promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of
substantially the same character as prior to such damage or destruction. 
 7.2.2 Settlement of Proceeds. If a Casualty
covered by any of the Policies (an “Insured Casualty”) occurs where the loss does not exceed $2,000,000, provided no Default or Default or Event of Default has occurred and is continuing, Borrower may settle and adjust any
claim without the prior consent of Lender; provided such adjustment is carried out in a competent and timely manner, and Borrower is hereby authorized to collect and receipt for the insurance proceeds (the “Proceeds”). In the
event of an Insured Casualty where the loss equals or exceeds $2,000,000 (a “Significant Casualty”), Borrower may settle and adjust any claim with the prior consent of Lender (which consent shall not be unreasonably withheld
or delayed) unless an Event of Default has occurred and is continuing, in which case Lender may, in its sole discretion, settle and adjust any claim without the consent of Borrower and agree with the insurer(s) on the amount to be paid on the loss,
and the Proceeds shall be due and payable solely 
  

 65 

 to Lender and held by Lender in the Casualty/Condemnation Subaccount and disbursed in accordance herewith. If Borrower or
any party other than Lender is a payee on any check representing Proceeds with respect to a Significant Casualty, Borrower shall immediately endorse, and cause all such third parties to endorse, such check payable to the order of Lender. During the
continuance of an Event of Default, Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to endorse such check payable to the order of Lender. The actual, out-of-pocket expenses incurred by Lender in the
settlement, adjustment and collection of the Proceeds shall become part of the Debt and shall be reimbursed by Borrower to Lender upon demand. Notwithstanding anything to the contrary contained herein, if in connection with a Casualty any insurance
carrier makes a payment under a property insurance Policy that Borrower proposes be treated as business or rental interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier as to the purpose of
such payment, as between Lender and Borrower, such payment shall not be treated as business or rental interruption insurance proceeds unless Borrower has demonstrated to Lender’s satisfaction that the remaining net Proceeds that will be
received from the property insurance carriers are sufficient to pay 100% of the cost of fully restoring the Improvements or, if such net Proceeds are to be applied to repay the Debt in accordance with the terms hereof, that such remaining net
Proceeds will be sufficient to pay the Debt in full. 
 7.3 Condemnation. 
 7.3.1 Notice; Restoration. Borrower shall promptly give Lender notice of the actual or threatened commencement of any condemnation or
eminent domain proceeding affecting the Property (a “Condemnation”) and shall deliver to Lender copies of any and all papers served in connection with such Condemnation. Following the occurrence of a Condemnation, Borrower,
regardless of whether an Award is available (unless Lender has breached its obligation (if any) to make such Award available pursuant to Section 7.4.1), shall promptly proceed to restore, repair, replace or rebuild the Property in accordance
with Legal Requirements to the extent practicable to be of at least equal value and of substantially the same character (and to have the same utility) as prior to such Condemnation. 
 7.3.2 Collection of Award. If a Condemnation occurs where the award or payment in respect thereof (an
“Award”) does not exceed $2,000,000, provided no Event of Default has occurred and is continuing, Borrower may make any compromise, adjustment or settlement in connection with such Condemnation with the prior consent of
Lender, not to be unreasonably withheld, provided such adjustment is carried out in a competent and timely manner, and Borrower is hereby authorized to collect and receipt for the Award. In the event of a Condemnation where the Award is in excess of
$2,000,000, Lender may collect, receive and retain such Award and make any compromise, adjustment or settlement in connection with such Condemnation with the prior consent of Borrower (unless an Event of Default is continuing, in which case,
Borrower’s prior consent shall not be required, and Lender is hereby irrevocably appointed as Borrower’s attorney-in-fact, coupled with an interest, with exclusive power to take such actions during the continuance of an Event of Default),
not to be unreasonably withheld (which shall be deemed consented to if Borrower fails to respond to any request for consent therefor within ten (10) days of request). Notwithstanding any Condemnation (or any transfer made in lieu of or in
anticipation of such Condemnation), Borrower shall continue to pay the Debt at the time and in the manner provided for in the Loan Documents, and the Debt shall not 
  

 66 

 be reduced unless and until any Award shall have been actually received and applied by Lender to expenses of collecting
the Award and to discharge of the Debt. Lender shall not be limited to the interest paid on the Award by the condemning authority but shall be entitled to receive out of the Award interest at the rate or rates provided in the Note. If the Property
is sold, through foreclosure or otherwise, prior to the receipt by Lender of such Award, Lender shall have the right, whether or not a deficiency judgment on the Note shall be recoverable or shall have been sought, recovered or denied, to receive
all or a portion of the Award sufficient to pay the Debt. Except as provided in this Section 7.3.2, Borrower shall cause any Award that is payable to Borrower to be paid directly to Lender. Lender shall hold such Award in the
Casualty/Condemnation Subaccount and disburse such Award in accordance with the terms hereof. 
 7.4 Application of Proceeds or
Award. 
 7.4.1 Application to Restoration. If an Insured Casualty or Condemnation occurs where (i) the loss
is in an aggregate amount less than the fifteen percent (15%) of the unpaid Principal; (ii) in the reasonable judgment of Lender, the Property can be restored within twelve (12) months, and prior to six (6) months before the
Stated Maturity Date and prior to the expiration of the rental or business interruption insurance with respect thereto, to the Property’s pre-existing condition and utility as existed immediately prior to such Insured Casualty or Condemnation
and to an economic unit not less valuable and not less useful than the same was immediately prior to the Insured Casualty or Condemnation, and after such restoration will adequately secure the Debt; (iii) less than (x) thirty percent
(30%), in the case of an Insured Casualty or (y) fifteen percent (15%), in the case of a Condemnation, of the rentable area of the Improvements has been damaged, destroyed or rendered unusable as a result of such Insured Casualty or
Condemnation; (iv) Leases demising in the aggregate at least sixty-five percent (65%) of the total rentable space in the Property and in effect as of the date of the occurrence of such Insured Casualty or Condemnation remain in full force
and effect during and after the completion of the Restoration (hereinafter defined); and (v) no Event of Default shall have occurred and be then continuing, then the Proceeds or the Award, as the case may be (after reimbursement of any expenses
incurred by Lender), shall be applied to reimburse Borrower for the cost of restoring, repairing, replacing or rebuilding the Property (the “Restoration”), in the manner set forth herein. Borrower shall commence and
diligently prosecute such Restoration. Notwithstanding the foregoing, in no event shall Lender be obligated to apply the Proceeds or Award to reimburse Borrower for the cost of Restoration unless, in addition to satisfaction of the foregoing
conditions, both (x) Borrower shall pay (and if required by Lender, Borrower shall deposit with Lender in advance) all costs of such Restoration in excess of the net amount of the Proceeds or the Award made available pursuant to the terms
hereof; and (y) Lender shall have received evidence reasonably satisfactory to it that during the period of the Restoration, the Rents (inclusive of proceeds (if any) from business interruption or other loss of income insurance) will be at
least equal to the sum of the operating expenses and Debt Service and other reserve payments required hereunder, as reasonably determined by Lender. 
 7.4.2 Application to Debt. Except as provided in Section 7.4.1 above, any Proceeds and/or Award may, at the option of Lender in its discretion, be applied to the payment of
(i) accrued but unpaid interest on the Note, (ii) the unpaid Principal and (iii) other charges due under the Note and/or any of the other Loan Documents, or applied to reimburse Borrower for 
  

 67 

 the cost of any Restoration, in the manner set forth in Section 7.4.3 below. Any such prepayment of the Loan
shall be without any Yield Maintenance Premium, unless an Event of Default has occurred and is continuing at the time the Proceeds are received from the insurance company or the Award is received from the condemning authority, as the case may be, in
which event Borrower shall pay to Lender an additional amount equal to the Yield Maintenance Premium, if any, that may be required with respect to the amount of the Proceeds or Award applied to the unpaid Principal. 
 7.4.3 Procedure for Application to Restoration. If Borrower is entitled to reimbursement out of the Proceeds or an Award held by
Lender, such Proceeds or Award shall be disbursed from time to time from the Casualty/Condemnation Subaccount upon Lender being furnished with (i) evidence satisfactory to Lender of the estimated cost of completion of the Restoration,
(ii) a fixed price or guaranteed maximum cost construction contract for Restoration satisfactory to Lender, (iii) prior to the commencement of Restoration, all immediately available funds in addition to the Proceeds or Award that in
Lender’s judgment are required to complete the proposed Restoration, (iv) such architect’s certificates, waivers of lien, contractor’s sworn statements, title insurance endorsements, bonds, plats of survey, permits, approvals,
licenses and such other documents and items as Lender may reasonably require and approve in Lender’s discretion, and (iv) all plans and specifications for such Restoration, such plans and specifications to be approved by Lender prior to
commencement of any work (unless such plans are for rebuilding the Improvements as they existed prior to the Casualty or Condemnation, in which case no Lender approval shall be required). Lender may, at Borrower’s expense, retain a consultant
to review and approve all requests for disbursements, which approval shall also be a condition precedent to any disbursement. No payment made prior to the final completion of the Restoration shall exceed ninety percent (90%) of the value of the
work performed from time to time (until completion of specific trades, which may be paid in full on completion); funds other than the Proceeds or Award shall be disbursed prior to disbursement of such Proceeds or Award; and at all times, the
undisbursed balance of such Proceeds or Award remaining in the hands of Lender, together with funds deposited for that purpose or irrevocably committed to the satisfaction of Lender by or on behalf of Borrower for that purpose, shall be at least
sufficient in the reasonable judgment of Lender to pay for the cost of completion of the Restoration, free and clear of all Liens or claims for Lien. Provided no Default or Event of Default then exists, any surplus that remains out of the Proceeds
held by Lender after payment of such costs of Restoration shall be paid to Borrower. Any surplus that remains out of the Award received by Lender after payment of such costs of Restoration shall, in the discretion of Lender, be retained by Lender
and applied to payment of the Debt (without any Yield Maintenance Premium or any other prepayment premium or penalty) or returned to Borrower. 
 8.
DEFAULTS 
 8.1 Events of Default. An “Event of Default” shall exist with respect to the Loan if any
of the following shall occur: 
 (a) any portion of the Debt is not paid when due, or Borrower shall fail to pay when due any payment required
under Sections 3.3, 3.4, 3.5, 3.6, 3.7 or 3.9 hereof (provided, however, if during a Cash Management Period, adequate funds are available in the Deposit Account for such payments, the failure by the Deposit Bank to allocate such funds into
the appropriate Subaccounts shall not constitute an Event of Default); 
  

 68 

 (b) any of the Taxes are not paid when due (unless Lender is paying such Taxes pursuant to
Section 3.3 hereof), subject to Borrower’s right to contest Taxes in accordance with Section 5.2 hereof; 
 (c)
the Policies are not kept in full force and effect, or certificates of such insurance are not delivered to Lender upon written request, as required under Section 7.1.2; 
 (d) a Transfer other than a Permitted Transfer occurs; 
 (e) any representation or warranty made by Borrower or in any Loan Document, or by Borrower (or certified by Borrower) in any report, certificate, financial statement or other instrument, agreement or document
furnished by Borrower in connection with any Loan Document, shall be false or misleading in any material respect as of the date the representation or warranty was made; 
 (f) Borrower or the SPE Party shall make an assignment for the benefit of creditors, or shall generally not be paying its debts as they become due; 
 (g) a receiver, liquidator or trustee shall be appointed for Borrower or the SPE Party; or Borrower or the SPE Party shall be adjudicated a bankrupt or
insolvent; or any petition for bankruptcy, reorganization or arrangement pursuant to federal bankruptcy law, or any similar federal or state law, shall be filed by or against, consented to, or acquiesced in by, Borrower or the SPE Party, as the case
may be; or any proceeding for the dissolution or liquidation of Borrower or the SPE Party shall be instituted; provided, however, if such appointment, adjudication, petition or proceeding was involuntary and not consented to by Borrower or the SPE
Party, as the case may be, only upon the same not being discharged, stayed or dismissed within sixty (60) days; 
 (h) Borrower breaches
any covenant contained in Section 5.12.1 (a) - (f) hereof which continues for ten (10) days after written notice from Lender; 
 (i) Borrower breaches any covenant contained in Sections 5.13, 5.15, 5.22, 5.25 or 5.28 hereof; 
 (j)
except as expressly permitted hereunder, the alteration, improvement, demolition or removal of all or any portion of the Improvements without the prior written consent of Lender; 
 (k) an Event of Default as defined or described elsewhere in this Agreement or in any other Loan Document occurs; 
 (l) a default occurs under any term, covenant or provision set forth herein or in any other Loan Document which specifically contains a notice
requirement or grace period and such notice has been given and such grace period has expired without the cure of such default; 
  

 69 

 (m) any of the assumptions contained in any substantive non-consolidation opinion, delivered to Lender by
Lender’s counsel in connection with the Loan or otherwise hereunder, were not true and correct as of the date of such opinion or thereafter became untrue or incorrect in any material respects; 
 (n) a default shall be continuing under any of the other terms, covenants or conditions of this Agreement or any other Loan Document not otherwise
specified in this Section 8.1, for ten (10) days after written notice to Borrower from Lender, in the case of any default which can be cured by the payment of a sum of money, or for thirty (30) days after written notice from
Lender in the case of any other default; provided, however, that if such non-monetary default is susceptible of cure but cannot reasonably be cured within such thirty (30)-day period, and Borrower shall have commenced to cure such default within
such thirty (30)-day period and thereafter diligently and expeditiously proceeds to cure the same, such thirty (30)-day period shall be extended for an additional period of time as is reasonably necessary for Borrower in the exercise of due
diligence to cure such default, such additional period not to exceed ninety (90) days. 
 8.2 Remedies. 

8.2.1 Acceleration. Upon the occurrence of an Event of Default (other than an Event of Default described in paragraph (f) or
(g) of Section 8.1 above) and at any time and from time to time thereafter, in addition to any other rights or remedies available to it pursuant to the Loan Documents or at law or in equity, Lender may take such action, without
notice or demand, that Lender deems advisable to protect and enforce its rights against Borrower and in and to the Property; including declaring the Debt to be immediately due and payable (including unpaid interest), Default Rate interest, Late
Payment Charges, Yield Maintenance Premium and any other amounts owing by Borrower), without notice of acceleration, notice of intent to accelerate or any other notice or demand; and upon any Event of Default described in paragraph (f) or
(g) of Section 8.1 above, the Debt (including unpaid interest, Default Rate interest, Late Payment Charges, Yield Maintenance Premium and any other amounts owing by Borrower) shall immediately and automatically become due and
payable, without notice of acceleration, notice of intent to accelerate or any other notice or demand, and Borrower hereby expressly waives any such notice or demand (including notice of acceleration and notice of intent to accelerate), anything
contained in any Loan Document to the contrary notwithstanding. 
 8.2.2 Remedies Cumulative. Upon the occurrence of an
Event of Default, all or any one or more of the rights, powers, privileges and other remedies available to Lender against Borrower under the Loan Documents or at law or in equity may be exercised by Lender at any time and from time to time, whether
or not all or any of the Debt shall be declared, or be automatically, due and payable, and whether or not Lender shall have commenced any foreclosure proceeding or other action for the enforcement of its rights and remedies under any of the Loan
Documents. Any such actions taken by Lender shall be cumulative and concurrent and may be pursued independently, singly, successively, together or otherwise, at such time and in such order as Lender may determine in its discretion, to the fullest
extent permitted by law, without impairing or otherwise affecting the other rights and remedies of Lender permitted by law, equity or contract or as set forth in the Loan Documents. Without limiting the generality of the foregoing, Borrower agrees
that if an Event of Default is continuing, (i) to the extent 
  

 70 

 permitted by applicable law, Lender is not subject to any “one action” or “election of remedies” law
or rule, and (ii) all Liens and other rights, remedies or privileges provided to Lender shall remain in full force and effect until Lender has exhausted all of its remedies against the Property, the Mortgage has been foreclosed, the Property
has been sold and/or otherwise realized upon in satisfaction of the Debt or the Debt has been paid in full. To the extent permitted by applicable law, nothing contained in any Loan Document shall be construed as requiring Lender to resort to any
portion of the Property for the satisfaction of any of the Debt in preference or priority to any other portion, and Lender may seek satisfaction out of the entire Property or any part thereof, in its discretion. 
 8.2.3 Severance. After the occurrence and during the continuance of an Event of Default, Lender shall have the right from time to
time to sever the Note and the other Loan Documents into one or more separate notes, mortgages and other security documents in such denominations and priorities of payment and liens as Lender shall determine in its discretion for purposes of
evidencing and enforcing its rights and remedies. Borrower shall execute and deliver to Lender from time to time, promptly after the request of Lender, a severance agreement and such other documents as Lender shall request in order to effect the
severance described in the preceding sentence, all in form and substance reasonably satisfactory to Lender. Borrower hereby absolutely and irrevocably appoints Lender as its true and lawful attorney, coupled with an interest, in its name and stead
to make and execute all documents necessary or desirable to effect such severance, Borrower ratifying all that such attorney shall do by virtue thereof. 
 8.2.4 Delay. No delay or omission to exercise any remedy, right or power accruing upon an Event of Default, or the granting of any indulgence or compromise by Lender shall impair any such remedy,
right or power hereunder or be construed as a waiver thereof, but any such remedy, right or power may be exercised from time to time and as often as may be deemed expedient. A waiver of one Default or Event of Default shall not be construed to be a
waiver of any subsequent Default or Event of Default or to impair any remedy, right or power consequent thereon. Notwithstanding any other provision of this Agreement, Lender reserves the right to seek a deficiency judgment or preserve a deficiency
claim in connection with the foreclosure of the Mortgage to the extent necessary to foreclose on all or any portion of the Property, the Rents, the Cash Management Accounts or any other collateral, provided that any deficiency judgment obtained by
Lender shall be subject to the terms and provisions of Section 10.1 hereof. 
 8.2.5 Lender’s Right to
Perform. If Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of the greater of (a) ten (10) days after Borrower’s receipt of written notice thereof from Lender
and (b) any longer notice requirement or grace period (if any) specifically set forth in this Agreement after Borrower’s receipt of written notice thereof from Lender, without in any way limiting Lender’s right to exercise any of its
rights, powers or remedies as provided hereunder, or under any of the other Loan Documents, Lender may, but shall have no obligation to, perform, or cause performance of, such covenant or obligation, and all costs, expenses, liabilities, penalties
and fines of Lender incurred or paid in connection therewith shall be payable by Borrower to Lender upon demand and if not paid shall be added to the Debt (and to the extent permitted under applicable laws, secured by the Mortgage and other Loan
Documents) and shall bear interest thereafter at the Default Rate. Notwithstanding the foregoing, Lender shall have no obligation to send notice to Borrower of any such failure. 
  

 71 

 9. SPECIAL PROVISIONS 
 9.1 Sale of Note and Secondary Market Transaction. 
 9.1.1 General;
Borrower Cooperation. Lender shall have the right at any time and from time to time (i) to sell or otherwise transfer the Loan or any portion thereof or the Loan Documents or any interest therein to one or more investors, (ii) to
sell participation interests in the Loan to one or more investors or (iii) to securitize the Loan or any portion thereof in a single asset securitization or a pooled loan securitization of rated single or multi-class securities (the
“Securities”) secured by or evidencing ownership interests in the Note and the Mortgage (each such sale, assignment, participation and/or securitization is referred to herein as a “Secondary Market
Transaction” and the transactions referred to in this subsection (iii) shall be referred to herein as a “Securitization”). In connection with any Secondary Market Transaction, Borrower shall use all
reasonable efforts and cooperate fully and in good faith with Lender and otherwise assist Lender in satisfying the market standards to which Lender customarily adheres or which may be reasonably required in the marketplace or by the Rating Agencies
in connection with any such Secondary Market Transactions, including: (a) to (i) to provide such financial and other information with respect to the Property, Borrower and its Affiliates, Manager and any tenants of the Property,
(ii) provide business plans and budgets relating to the Property and (iii) perform or permit or cause to be performed or permitted such site inspection, appraisals, surveys, market studies, environmental reviews and reports, engineering
reports and other due diligence investigations of the Property, as may be reasonably requested from time to time by Lender or the Rating Agencies or as may be necessary or appropriate in connection with a Secondary Market Transaction or Exchange Act
requirements (the items provided to Lender pursuant to this paragraph (a) being called the “Provided Information”), together, if customary, with appropriate verification of and/or consents to the Provided Information
through letters of auditors or opinions of counsel of independent attorneys acceptable to Lender and the Rating Agencies; (b) cause counsel to render opinions customary in securitization transactions with respect to the Property, Borrower and
its Affiliates, which counsel and opinions shall be reasonably satisfactory to Lender and the Rating Agencies; (c) make such representations and warranties as of the closing date of any Secondary Market Transaction with respect to the Property,
Borrower and the Loan Documents as are customarily provided in such transactions and as may be reasonably requested by Lender or the Rating Agencies and consistent with the facts covered by such representations and warranties as they exist on the
date thereof, including the representations and warranties made in the Loan Documents; (d) provide current certificates of good standing and qualification with respect to Borrower and the SPE Party from appropriate Governmental Authorities; and
(e) execute such amendments to the Loan Documents and Borrower’s organizational documents, as may be reasonably requested by Lender or the Rating Agencies or otherwise to effect a Secondary Market Transaction, provided that nothing
contained in this subsection (e) shall result in an adverse economic change or a material increase in Borrower’s non-economic obligations in the transaction. Borrower’s cooperation obligations set forth herein shall continue
until the Loan has been paid in full. Notwithstanding anything to the contrary contained in this Section 9.1.1, Borrower shall not be required to incur any out-of-pocket expenses (other than the fees and expenses of Borrower’s
attorneys, accountants and consultants) in the performance of its obligations under this Section 9.1.1. 
  

 72 

 9.1.2 Use of Information. Borrower understands that all or any portion of the
Provided Information and the Required Records may be included in disclosure documents in connection with a Secondary Market Transaction, including a prospectus or private placement memorandum (each, a “Disclosure Document”)
and may also be included in filings with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or the Securities and Exchange Act of 1934, as amended (the
“Exchange Act”), or provided or made available to investors or prospective investors in the Securities, the Rating Agencies, and service providers or other parties relating to the Secondary Market Transaction; provided that
Borrower does not incur any liability as an issuer of securities and is not responsible for any errors or omissions in the statements by Lender or third parties which are inconsistent with the information that has been provided by Borrower. If the
Disclosure Document is required to be revised, Borrower shall cooperate with Lender in updating the Provided Information or Required Records for inclusion or summary in the Disclosure Document or for other use reasonably required in connection with
a Secondary Market Transaction by providing all current information pertaining to Borrower, Manager and the Property necessary to keep the Disclosure Document accurate and complete in all material respects with respect to such matters.
Notwithstanding anything to the contrary contained in this Section 9.1.2, Borrower shall not be required to incur any out-of-pocket expenses (other than the fees and expenses of Borrower’s attorneys, accountants and consultants) in
the performance of its obligations under this Section 9.1.2. 
 9.1.3 Borrower Obligations Regarding Disclosure
Documents. IN CONNECTION WITH A DISCLOSURE DOCUMENT, BORROWER SHALL: (A) IF REQUESTED BY LENDER, CERTIFY IN WRITING THAT BORROWER HAS CAREFULLY EXAMINED THOSE PORTIONS OF SUCH DISCLOSURE DOCUMENT, PERTAINING TO BORROWER, THE
PROPERTY, MANAGER AND THE LOAN, AND THAT SUCH PORTIONS DO NOT CONTAIN ANY UNTRUE STATEMENT OF A MATERIAL FACT OR OMIT TO STATE A MATERIAL FACT NECESSARY IN ORDER TO MAKE THE STATEMENTS MADE, IN THE LIGHT OF THE CIRCUMSTANCES UNDER WHICH THEY WERE
MADE, NOT MISLEADING; AND (B) INDEMNIFY (IN A SEPARATE INSTRUMENT OF INDEMNITY, IF SO REQUESTED BY LENDER) (I) ANY UNDERWRITER, SYNDICATE MEMBER OR PLACEMENT AGENT (COLLECTIVELY, THE “UNDERWRITERS”) RETAINED
BY LENDER OR ITS ISSUING COMPANY AFFILIATE (THE “ISSUER”) IN CONNECTION WITH A SECONDARY MARKET TRANSACTION, (II) LENDER AND (III) THE ISSUER THAT IS NAMED IN THE DISCLOSURE DOCUMENT OR REGISTRATION STATEMENT
RELATING TO A SECONDARY MARKET TRANSACTION (THE “REGISTRATION STATEMENT”), AND EACH OF THE ISSUER’S DIRECTORS, EACH OF ITS OFFICERS WHO HAVE SIGNED THE REGISTRATION STATEMENT AND EACH PERSON OR ENTITY WHO CONTROLS
THE ISSUER OR THE LENDER WITHIN THE 
  

 73 

 MEANING OF SECTION 15 OF THE SECURITIES ACT OR SECTION 30 OF THE EXCHANGE ACT (COLLECTIVELY WITHIN (III),
THE “GCM GROUP”), AND EACH OF ITS DIRECTORS AND EACH PERSON WHO CONTROLS EACH OF THE UNDERWRITERS, WITHIN THE MEANING OF SECTION 15 OF THE SECURITIES ACT AND SECTION 20 OF THE EXCHANGE ACT (COLLECTIVELY, THE
“UNDERWRITER GROUP”) FOR ANY LOSSES, CLAIMS, DAMAGES OR LIABILITIES (THE “LIABILITIES”) TO WHICH LENDER, THE GCM GROUP OR THE UNDERWRITER GROUP MAY BECOME SUBJECT (INCLUDING REIMBURSING
ALL OF THEM FOR ANY LEGAL OR OTHER EXPENSES ACTUALLY INCURRED IN CONNECTION WITH INVESTIGATING OR DEFENDING THE LIABILITIES) INSOFAR AS THE LIABILITIES ARISE OUT OF OR ARE BASED UPON ANY UNTRUE STATEMENT OR ALLEGED UNTRUE STATEMENT OF ANY MATERIAL
FACT CONTAINED IN ANY OF THE PROVIDED INFORMATION OR IN ANY OF THE APPLICABLE PORTIONS OF SUCH SECTIONS OF THE DISCLOSURE DOCUMENT APPLICABLE TO BORROWER, MANAGER, OR THE PROPERTY, OR ARISE OUT OF OR ARE BASED UPON THE OMISSION OR ALLEGED OMISSION
TO STATE THEREIN A MATERIAL FACT REQUIRED TO BE STATED IN THE APPLICABLE PORTIONS OF SUCH SECTIONS OR NECESSARY IN ORDER TO MAKE THE STATEMENTS IN THE APPLICABLE PORTIONS OF SUCH SECTIONS IN LIGHT OF THE CIRCUMSTANCES UNDER WHICH THEY WERE MADE, NOT
MISLEADING; PROVIDED, HOWEVER, THAT BORROWER SHALL NOT BE REQUIRED TO INDEMNIFY LENDER FOR ANY LIABILITIES RELATING TO UNTRUE STATEMENTS OR OMISSIONS WHICH BORROWER IDENTIFIED TO LENDER IN WRITING AT THE TIME OF BORROWER’S EXAMINATION OF SUCH
DISCLOSURE DOCUMENT. 
 9.1.4 Borrower Indemnity Regarding Filings. IN CONNECTION WITH FILINGS UNDER THE EXCHANGE
ACT, BORROWER SHALL (I) INDEMNIFY LENDER, THE GCM GROUP AND THE UNDERWRITER GROUP FOR ANY LIABILITIES TO WHICH LENDER, THE GCM GROUP OR THE UNDERWRITER GROUP MAY BECOME SUBJECT INSOFAR AS THE LIABILITIES ARISE OUT OF OR ARE BASED UPON THE
OMISSION OR ALLEGED OMISSION TO STATE IN THE PROVIDED INFORMATION A MATERIAL FACT REQUIRED TO BE STATED IN THE PROVIDED INFORMATION IN ORDER TO MAKE THE STATEMENTS IN THE PROVIDED INFORMATION, IN LIGHT OF THE CIRCUMSTANCES UNDER WHICH THEY WERE MADE
NOT MISLEADING AND (II) REIMBURSE LENDER, THE GCM GROUP OR THE UNDERWRITER GROUP FOR ANY LEGAL OR OTHER EXPENSES ACTUALLY INCURRED BY LENDER, GCM GROUP OR THE UNDERWRITER GROUP IN CONNECTION WITH DEFENDING OR INVESTIGATING THE LIABILITIES.

 9.1.5 Indemnification Procedure. PROMPTLY AFTER RECEIPT BY AN INDEMNIFIED PARTY UNDER SECTION 9.1.3
ABOVE OR SECTION 9.1.4 ABOVE OF NOTICE OF THE COMMENCEMENT OF ANY ACTION FOR WHICH A CLAIM FOR INDEMNIFICATION IS TO BE MADE AGAINST BORROWER, SUCH INDEMNIFIED PARTY SHALL NOTIFY BORROWER IN WRITING OF SUCH COMMENCEMENT, BUT THE OMISSION TO
SO NOTIFY BORROWER WILL NOT RELIEVE BORROWER FROM ANY LIABILITY THAT IT MAY HAVE TO ANY INDEMNIFIED PARTY HEREUNDER EXCEPT TO THE EXTENT THAT FAILURE TO NOTIFY CAUSES PREJUDICE TO BORROWER. IF ANY ACTION IS BROUGHT 
  

 74 

 AGAINST ANY INDEMNIFIED PARTY, AND IT NOTIFIES BORROWER OF THE COMMENCEMENT THEREOF, BORROWER WILL BE ENTITLED,
JOINTLY WITH ANY OTHER INDEMNIFYING PARTY, TO PARTICIPATE THEREIN AND, TO THE EXTENT THAT IT (OR THEY) MAY ELECT BY WRITTEN NOTICE DELIVERED TO THE INDEMNIFIED PARTY PROMPTLY AFTER RECEIVING THE AFORESAID NOTICE OF COMMENCEMENT, TO ASSUME THE
DEFENSE THEREOF WITH COUNSEL SATISFACTORY TO SUCH INDEMNIFIED PARTY IN ITS DISCRETION. AFTER NOTICE FROM BORROWER TO SUCH INDEMNIFIED PARTY UNDER THIS SECTION 9.1.5, BORROWER SHALL NOT BE RESPONSIBLE FOR ANY LEGAL OR OTHER EXPENSES
SUBSEQUENTLY INCURRED BY SUCH INDEMNIFIED PARTY IN CONNECTION WITH THE DEFENSE THEREOF OTHER THAN REASONABLE COSTS OF INVESTIGATION; PROVIDED, HOWEVER, IF THE DEFENDANTS IN ANY SUCH ACTION INCLUDE BOTH BORROWER AND AN INDEMNIFIED PARTY, AND ANY
INDEMNIFIED PARTY SHALL HAVE REASONABLY CONCLUDED THAT THERE ARE ANY LEGAL DEFENSES AVAILABLE TO IT AND/OR OTHER INDEMNIFIED PARTIES THAT ARE DIFFERENT FROM OR ADDITIONAL TO THOSE AVAILABLE TO BORROWER, THEN THE INDEMNIFIED PARTY OR PARTIES SHALL
HAVE THE RIGHT TO SELECT SEPARATE COUNSEL TO ASSERT SUCH LEGAL DEFENSES AND TO OTHERWISE PARTICIPATE IN THE DEFENSE OF SUCH ACTION ON BEHALF OF SUCH INDEMNIFIED PARTY OR PARTIES. BORROWER SHALL NOT BE LIABLE FOR THE EXPENSES OF MORE THAN ONE
SEPARATE COUNSEL UNLESS THERE ARE LEGAL DEFENSES AVAILABLE TO IT THAT ARE DIFFERENT FROM OR ADDITIONAL TO THOSE AVAILABLE TO ANOTHER INDEMNIFIED PARTY. 
 9.1.6 Contribution. IN ORDER TO PROVIDE FOR JUST AND EQUITABLE CONTRIBUTION IN CIRCUMSTANCES IN WHICH THE INDEMNITY AGREEMENT PROVIDED FOR IN SECTION 9.1.3 ABOVE OR
SECTION 9.1.4 ABOVE IS FOR ANY REASON HELD TO BE UNENFORCEABLE BY AN INDEMNIFIED PARTY IN RESPECT OF ANY LIABILITIES (OR ACTION IN RESPECT THEREOF) REFERRED TO THEREIN WHICH WOULD OTHERWISE BE INDEMNIFIABLE UNDER SECTION 9.1.3
ABOVE OR SECTION 9.1.4 ABOVE, BORROWER SHALL CONTRIBUTE TO THE AMOUNT PAID OR PAYABLE BY THE INDEMNIFIED PARTY AS A RESULT OF SUCH LIABILITIES (OR ACTION IN RESPECT THEREOF); PROVIDED, HOWEVER, THAT NO PERSON GUILTY OF FRAUDULENT
MISREPRESENTATION (WITHIN THE MEANING OF SECTION 11(F) OF THE SECURITIES ACT) SHALL BE ENTITLED TO CONTRIBUTION FROM ANY PERSON NOT GUILTY OF SUCH FRAUDULENT MISREPRESENTATION. IN DETERMINING THE AMOUNT OF CONTRIBUTION TO WHICH THE RESPECTIVE
PARTIES ARE ENTITLED, THE FOLLOWING FACTORS SHALL BE CONSIDERED: (I) THE GCM GROUP’S AND BORROWER’S RELATIVE KNOWLEDGE AND ACCESS TO INFORMATION CONCERNING THE MATTER WITH RESPECT TO WHICH THE CLAIM WAS ASSERTED; (II) THE
OPPORTUNITY TO CORRECT AND PREVENT ANY STATEMENT OR OMISSION; AND (III) ANY OTHER EQUITABLE CONSIDERATIONS APPROPRIATE IN THE CIRCUMSTANCES. LENDER AND BORROWER HEREBY AGREE THAT IT MAY NOT BE EQUITABLE IF THE AMOUNT OF SUCH CONTRIBUTION WERE
DETERMINED BY PRO RATA OR PER CAPITA ALLOCATION. 
  

 75 

 9.1.7 Rating Surveillance. Lender will retain the Rating Agencies to provide rating
surveillance services on Securities. The pro rata expenses of such surveillance will be paid for by Borrower based on the applicable percentage of such expenses determined by dividing the then outstanding Principal by the then aggregate outstanding
amount of the pool created in the Secondary Market Transaction which includes the Loan. 
 9.1.8 Severance of Loan.
Lender shall have the right, at any time (whether prior to, in connection with, or after any Secondary Market Transaction), with respect to all or any portion of the Loan, to modify, split and/or sever all or any portion of the Loan as hereinafter
provided. Without limiting the foregoing, Lender may (i) cause the Note and the Mortgage to be split into a first and second mortgage loan, (ii) create one more senior and subordinate notes (i.e., an A/B or A/B/C structure),
(iii) create multiple components of the Note or Notes (and allocate or reallocate the principal balance of the Loan among such components) or (iv) otherwise sever the Loan into two (2) or more loans secured by mortgages, in each such
case, in whatever proportion and whatever priority Lender determines; provided, however, in each such instance the outstanding principal balance of all the Notes evidencing the Loan (or components of such Notes) immediately after the effective date
of such modification equals the outstanding principal balance of the Loan immediately prior to such modification and the weighted average of the interest rates for all such Notes (or components of such Notes) immediately after the effective date of
such modification equals the interest rate of the original Note immediately prior to such modification. If requested by Lender, Borrower (and Borrower’s constituent members, if applicable) shall execute within seven (7) Business Days after
such request, such documentation as Lender may reasonably request to evidence and/or effectuate any such modification or severance. Borrower shall not be required to incur any out of pocket costs or expenses in connection with the foregoing (other
than the fees and expenses of Borrower’s attorneys, accountants and consultants) or to reduce its rights or increase its obligations or decrease its rights in respect of the Loan (or any portion thereof). Notwithstanding any severance of the
Loan into an A/B or A/B/C structure, Lender hereby acknowledges and agrees that Borrower shall only be obligated to obtain any consent and/or approval required under the Loan Documents from, and deliver any notice, financial reports or other items
as required under the Loan Documents to, one (1) Person acting as agent designated by Lender, in its sole discretion. 
 10. MISCELLANEOUS

 10.1 Exculpation. The Loan is non-recourse to Borrower and its direct and indirect partners, except as expressly
provided below. Subject to the qualifications below, Lender shall not enforce the liability and obligation of Borrower to perform and observe the obligations contained in the Loan Documents by any action or proceeding wherein a money judgment shall
be sought against Borrower or against any holder of direct or indirect interests in Borrower, except that Lender may bring a foreclosure action, an action for specific performance or any other appropriate action or proceeding to enable Lender to
enforce and realize upon its interest and rights under the Loan Documents, or in the Property, the Rents or any other collateral given to Lender pursuant to the Loan Documents; provided, however, that, except as specifically provided herein, any
judgment in any such action or proceeding shall be enforceable against 
  

 76 

 Borrower only to the extent of Borrower’s interest in the Property, in the Rents and in any other collateral given
to Lender, and Lender shall not sue for, seek or demand any deficiency judgment against Borrower or against any holder of direct or indirect interests in Borrower in any such action or proceeding under or by reason of or under or in connection with
any Loan Document. The provisions of this Section 10.1 shall not, however, (i) constitute a waiver, release or impairment of any obligation evidenced or secured by any Loan Document; (ii) impair the right of Lender to name
Borrower as a party defendant in any action or suit for foreclosure and sale under the Mortgage; (iii) affect the validity or enforceability of any of the Loan Documents or any guaranty made in connection with the Loan or any of the rights and
remedies of Lender thereunder; (iv) impair the right of Lender to obtain the appointment of a receiver; (v) impair the enforcement of the Assignment of Leases; (vi) constitute a prohibition against Lender to commence any other
appropriate action or proceeding in order for Lender to fully realize the security granted by the Mortgage or to exercise its remedies against the Property; or (vii) constitute a waiver of the right of Lender to enforce the liability and
obligation of Borrower, by money judgment or otherwise, to the extent of any loss, damage, cost, expense, liability, claim or other obligation incurred by Lender (including attorneys’ fees and costs reasonably incurred) (but excluding any
punitive, consequential or speculative damages) arising out of or in connection with the following (all such liability and obligation of Borrower for any or all of the following being referred to herein as “Borrower’s Recourse
Liabilities”): 
 (a) fraud or intentional misrepresentation by Borrower, or the SPE Party in connection with
obtaining the Loan; 
 (b) intentional physical waste of the Property or any portion thereof by Borrower, the SPE Party or any
Affiliate of Borrower or the SPE Party, or after an Event of Default the removal or disposal by Borrower, the SPE Party or any Affiliate of Borrower or the SPE Party of any portion of the Property without replacement; 
 (c) any Proceeds paid to Borrower or the SPE Party (or any Affiliate of Borrower or the SPE Party) by reason of any Insured Casualty or
any Award received in connection with a Condemnation or other sums or payments attributable to the Property not applied by Borrower in accordance with the provisions of the Loan Documents (except to the extent that Borrower did not have the legal
right, because of a bankruptcy, receivership or similar judicial proceeding, to direct disbursement of such sums or payments); 
 (d) all Rents of the Property received or collected by or on behalf of the Borrower after an Event of Default and not deposited into the Deposit Account or applied to payment of Principal and interest due under the Note, and to the payment
of actual and reasonable operating expenses of the Property, as they become due or payable (except to the extent that such application of such funds is prevented by bankruptcy, receivership, or similar judicial proceeding in which Borrower is
legally prevented from directing the disbursement of such sums); 
 (e) misappropriation by Borrower or the SPE Party (or any
Affiliate of Borrower or the SPE Party) (including failure to turn over to Lender on demand following an Event of Default) of tenant security deposits and rents collected in advance, or of funds held by Borrower for the benefit of another party;

  

 77 

 (f) the failure to pay Taxes, provided Borrower shall not be liable (A) to the
extent funds to pay such amounts are available in the Tax and Insurance Subaccount and Lender failed to pay same or (B) Rents paid during the tax payment period at issue are insufficient to yield sufficient funds to pay such amounts after the
payment of all monthly payments due under the Loan Documents, insurance premiums and other operating and other expenses of the Property; or 
 (g) the breach of any representation, warranty, covenant or indemnification in any Loan Document concerning Environmental Laws or Hazardous Substances, including Section 4.21 hereof and
Section 5.8 hereof, and clauses (viii) through (xi) of Section 5.30 hereof. 
 Notwithstanding anything to the contrary in
this Agreement or any of the Loan Documents, (A) Lender shall not be deemed to have waived any right which Lender may have under Section 506(a), 506(b), 1111(b) or any other provisions of the U.S. Bankruptcy Code to file a claim for the
full amount of the Debt or to require that all collateral shall continue to secure all of the Debt in accordance with the Loan Documents, and (B) Lender’s agreement not to pursue personal liability of Borrower as set forth above SHALL
BECOME NULL AND VOID and shall be of no further force and effect, and the Debt shall be fully recourse to Borrower in the event that one or more of the following occurs (each, a “Springing Recourse Event”): (i) an Event
of Default described in Section 8.1(d) hereof shall have occurred or (ii) a breach of the covenants set forth in Section 5.13 hereof, or (iii) the occurrence of any condition or event described in either
Section 8.1(f) hereof or Section 8.1(g) hereof and, with respect to such condition or event described in Section 8.1(g) hereof, either Borrower, the SPE Party or any Person owning an interest (directly
or indirectly) in Borrower or the SPE Party consents to, aids, solicits, supports, or otherwise cooperates or colludes to cause such condition or event or fails to contest such condition or event. 
 10.2 Brokers and Financial Advisors. (a) Borrower hereby represents that it has dealt with no financial advisors, brokers,
underwriters, placement agents, agents or finders in connection with the Loan other than Eastdil Secured, LLC (“Broker”) whose fees shall be paid by Borrower pursuant to a separate agreement. Borrower shall indemnify and hold
Lender harmless from and against any and all claims, liabilities, costs and expenses (including attorneys’ fees, whether incurred in connection with enforcing this indemnity or defending claims of third parties) of any kind in any way relating
to or arising from a claim by any Person (including Broker) that such Person acted on behalf of Borrower in connection with the transactions contemplated herein. The provisions of this Section 10.2 shall survive the expiration and
termination of this Agreement and the repayment of the Debt. 
 (b) Notwithstanding anything in Section 10.2(a) above to the
contrary, Borrower hereby acknowledges that (i) at Lender’s sole discretion, Broker may receive further consideration from Lender relating to the Loan or any other matter for which Lender may elect to compensate Broker pursuant to a
separate agreement between Lender and Broker and (ii) Lender shall have no obligation to disclose to Borrower the existence of any such agreement or the amount of any such additional consideration paid or to be paid to Broker whether in
connection with the Loan or otherwise. 
  

 78 

 10.3 Retention of Servicer. Lender reserves the right to retain the Servicer to act
as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a Secondary Market
Transaction, the Deposit Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer (i) in connection with a release of the Property
(or any portion thereof), (ii) from and after a transfer of the Loan to any “master servicer” or “special servicer” for any reason, including without limitation, as a result of a decline in the occupancy level of the
Property, (iii) in connection with an assumption or modification of the Loan, (iv) in connection with the enforcement of the Loan Documents or (v) in connection with any other action or approval taken by Servicer hereunder on behalf
of Lender. 
 10.4 Survival. This Agreement and all covenants, agreements, representations and warranties made herein
and in the certificates delivered pursuant hereto shall survive the making by Lender of the Loan and the execution and delivery to Lender of the Note, and shall continue in full force and effect so long as any of the Debt is unpaid or such longer
period if expressly set forth in this Agreement. All Borrower’s covenants and agreements in this Agreement shall inure to the benefit of the respective legal representatives, successors and assigns of Lender. 
 10.5 Lender’s Discretion. Whenever pursuant to this Agreement or any other Loan Document, Lender exercises any right given to it to
approve or disapprove, or consent or withhold consent, or any arrangement or term is to be satisfactory to Lender or is to be in Lender’s discretion, except as otherwise specified herein, the decision of Lender to approve or disapprove, to
consent or withhold consent, or to decide whether arrangements or terms are satisfactory or not satisfactory, or acceptable or unacceptable or in Lender’s discretion shall (except as is otherwise specifically herein provided) be in the sole
discretion of Lender and shall be final and conclusive. 
 10.6 Governing Law. 
 (a) THIS AGREEMENT WAS NEGOTIATED IN THE STATE OF NEW YORK AND THE PROCEEDS OF THE NOTE DELIVERED PURSUANT HERETO WERE DISBURSED FROM THE STATE OF NEW
YORK, WHICH STATE THE PARTIES AGREE HAS A SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND TO THE UNDERLYING TRANSACTION EMBODIED HEREBY, AND IN ALL RESPECTS, INCLUDING MATTERS OF CONSTRUCTION, VALIDITY, ENFORCEABILITY AND PERFORMANCE, THIS AGREEMENT AND
THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE AND ANY APPLICABLE LAW OF THE UNITED STATES OF AMERICA, EXCEPT THAT
AT ALL TIMES THE PROVISIONS FOR THE CREATION, PERFECTION, AND ENFORCEMENT OF THE LIENS CREATED PURSUANT TO THE MORTGAGE AND THE ASSIGNMENT OF LEASES SHALL BE GOVERNED BY AND CONSTRUED 
  

 79 

 ACCORDING TO THE LAW OF THE STATE IN WHICH THE PROPERTY IS LOCATED, IT BEING UNDERSTOOD THAT, TO THE FULLEST EXTENT
PERMITTED BY THE LAW OF SUCH STATE, THE LAW OF THE STATE OF NEW YORK SHALL GOVERN THE VALIDITY AND THE ENFORCEABILITY OF ALL LOAN DOCUMENTS AND THE DEBT. TO THE FULLEST EXTENT PERMITTED BY LAW, BORROWER HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES
ANY CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS AGREEMENT AND THE NOTE, AND THIS AGREEMENT AND THE NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK PURSUANT TO § 5-1401 OF THE
NEW YORK GENERAL OBLIGATIONS LAW. 
 (b) ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST BORROWER OR LENDER ARISING OUT OF OR RELATING TO THIS AGREEMENT SHALL
BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN NEW YORK COUNTY, NEW YORK AND BORROWER WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND BORROWER HEREBY IRREVOCABLY SUBMITS TO
THE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION OR PROCEEDING. BORROWER HEREBY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR
CERTIFIED MAIL, POSTAGE PREPAID, TO IT AT ITS ADDRESS AS SET FORTH IN SECTION 6.1 ABOVE, WHICH MAY BE SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK, AND AGREES THAT SAID SERVICE OF BORROWER
MAILED OR DELIVERED TO THE BORROWER IN THE MANNER PROVIDED HEREIN SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON BORROWER (UNLESS LOCAL LAW REQUIRES ANOTHER METHOD OF SERVICE), IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE STATE
OF NEW YORK. BORROWER (i) SHALL GIVE PROMPT NOTICE TO LENDER OF ANY CHANGED ADDRESS OF ITS ADDRESS AND/OR APPOINTED OR CHANGED AUTHORIZED AGENT HEREUNDER, AND (ii) MAY AT ANY TIME AND FROM TIME TO TIME DESIGNATE AN AUTHORIZED AGENT WITH AN
OFFICE IN NEW YORK, NEW YORK (WHICH OFFICE SHALL BE DESIGNATED AS THE ADDRESS FOR SERVICE OF PROCESS). 
 10.7 Modification,
Waiver in Writing. No modification, amendment, extension, discharge, termination or waiver of any provision of this Agreement or of any other Loan Document, nor consent to any departure by Borrower therefrom, shall in any event be effective
unless the same shall be in a writing signed by the party against whom enforcement is sought, and then such waiver or consent shall be effective only in the specific instance, and for the purpose, for which given. Except as otherwise expressly
provided herein, no notice to or demand on Borrower shall entitle Borrower to any other or future notice or demand in the same, similar or other circumstances. Neither any failure nor any delay on the part of Lender in insisting upon strict
performance of any term, condition, covenant or agreement, or exercising any right, power, remedy or privilege hereunder, or under any other Loan Document, shall operate as or constitute a waiver thereof, nor shall a single or partial exercise
thereof preclude any other future exercise, or the exercise of any other right, power, remedy or privilege. In 
  

 80 

 particular, and not by way of limitation, by accepting payment after the due date of any amount payable under any Loan
Document, Lender shall not be deemed to have waived any right either to require prompt payment when due of all other amounts due under the Loan Documents, or to declare an Event of Default for failure to effect prompt payment of any such other
amount. 
 10.8 Trial by Jury. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW, BORROWER AND LENDER HEREBY AGREE NOT TO ELECT A
TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THE LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN
CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY BORROWER AND LENDER, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE
ACCRUE. EITHER PARTY IS HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY THE OTHER. 
 10.9 Headings/Exhibits. The Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose. The Exhibits attached hereto,
are hereby incorporated by reference as a part of the Agreement with the same force and effect as if set forth in the body hereof. 
 10.10 Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or
invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 10.11 Preferences. Upon the occurrence and continuance of an Event of Default, Lender shall have the continuing and exclusive right to
apply or reverse and reapply any and all payments by Borrower to any portion of the Debt. To the extent Borrower makes a payment to Lender, or Lender receives proceeds of any collateral, which is in whole or part subsequently invalidated, declared
to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or proceeds received,
the Debt or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment or proceeds had not been received by Lender. This provision shall survive the expiration or termination of this Agreement
and the repayment of the Debt. 
 10.12 Waiver of Notice. Borrower shall not be entitled to any notices of any nature
whatsoever from Lender except with respect to matters for which this Agreement or any other Loan Document specifically and expressly requires the giving of notice by Lender to Borrower and except with respect to matters for which Borrower is not,
pursuant to applicable Legal Requirements, permitted to waive the giving of notice. Borrower hereby expressly waives the right to receive any notice from Lender with respect to any matter for which no Loan Document specifically and expressly
requires the giving of notice by Lender to Borrower. 
  

 81 

 10.13 Remedies of Borrower. If a claim or adjudication is made that Lender or any of its
agents, including Servicer, has acted unreasonably or unreasonably delayed acting in any case where by law or under any Loan Document, Lender or any such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees
that neither Lender nor its agents, including Servicer, shall be liable for any monetary damages, and Borrower’s sole remedy shall be to commence an action seeking injunctive relief or declaratory judgment. Any action or proceeding to determine
whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment. Borrower specifically waives any claim against Lender and its agents, including Servicer, with respect to actions taken by Lender or its agents on
Borrower’s behalf. Nothing in this Section 10.13 shall limit Borrower’s remedies against Lender under this Agreement to the extent that both (i) Lender’s breach of this Agreement arises from the illegal acts, fraud or
willful misconduct of Lender and (ii) as a result of such breach, Borrower incurs liability or actual damages to third parties. 
 10.14 Entire Agreement. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE ENTIRE AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 
 10.15 Offsets, Counterclaims and Defenses. Borrower
hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender or its agents, including Servicer, or otherwise offset any obligations to make payments required under
the Loan Documents. Any assignee of Lender’s interest in and to the Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses which Borrower may otherwise have against any assignor of such documents, and no
such offset, counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon such documents, and any such right to interpose or assert any such offset, counterclaim or defense in any
such action or proceeding is hereby expressly waived by Borrower. 
 10.16 Publicity. All news releases, publicity or
advertising by Borrower or its Affiliates through any media intended to reach the general public, which refers to the Loan Documents, the Loan, Lender or any member of the GCM Group, a purchaser of the Loan, the Servicer or the trustee in a
Secondary Market Transaction, shall be subject to the prior reasonable written approval of Lender. Additionally, Lender shall not have the right to issue any of the foregoing (other than as permitted under Article 9) without Borrower’s
approval, not to be unreasonably, withheld, conditioned or delayed (and which will be deemed given if no response is given within 3 Business Days following written request). Nothing in this Section 10.16 shall prevent either Borrower or Lender
from disclosing or accessing any information otherwise deemed confidential under this paragraph (i) in connection with that party’s enforcement of its rights hereunder; (ii) pursuant to any legal requirement, any statutory reporting
requirement or any accounting or auditing disclosure requirement applicable to Borrower or Lender; (iii) in connection with performance by either party of its obligations under this Agreement; or (iv) to existing or potential investors,
participants or assignees in or of the transaction contemplated by this Agreement or such party’s rights herein. 
  

 82 

 10.17 No Usury. It is agreed that Borrower and Lender intend at all times to comply with
applicable state law or applicable United States federal law (to the extent that it permits Lender to contract for, charge, take, reserve or receive a greater amount of interest than under state law) governing the maximum rate or amount of interest
payable on the Debt and that this Section 10.17 shall control every other agreement in the Loan Documents. In furtherance thereof, Borrower and Lender agree that none of the terms and provisions of this Agreement or any other Loan
Document shall ever be construed to create a contract to pay for the use, forbearance or detention of monetary interest at a rate in excess of the maximum interest rate permitted to be charged by applicable law and that Borrower shall never be
obligated or required to pay interest under this Agreement or any other Loan Document at a rate in excess of the maximum interest rate that may be charged under applicable law. If the applicable law (state or federal) is ever judicially interpreted
so as to render usurious any amount called for under the Note or any other Loan Document, or contracted for, charged, taken, reserved or received with respect to the Debt, or if Lender’s exercise of the option to accelerate the maturity of the
Loan or any prepayment by Borrower results in Borrower having paid any interest in excess of that permitted by applicable law, then it is Borrower’s and Lender’s express intent and agreement that all amounts charged in excess of the
maximum lawful rate shall be automatically cancelled, ab initio, and all excess amounts theretofore collected by Lender shall be credited against the unpaid Principal and all other Debt (or, if the Debt has been or would thereby be paid in
full, refunded to Borrower), and the provisions of the Loan Documents immediately be deemed reformed and the amounts thereafter collectible thereunder reduced, without the necessity of the execution of any new document, so as to comply with
applicable law, but so as to permit the recovery of the fullest amount otherwise called for thereunder. All sums paid or agreed to be paid to Lender for the use, forbearance or detention of the Loan shall, to the extent permitted by applicable law,
be amortized, prorated, allocated, and spread throughout the full stated term of the Loan until payment in full so that the rate or amount of interest on account of the Debt does not exceed the maximum lawful rate from time to time in effect and
applicable to the Debt for so long as the Debt is outstanding. Notwithstanding anything to the contrary contained in any Loan Document, it is not the intention of Lender to accelerate the maturity of any interest that has not accrued at the time of
such acceleration or to collect unearned interest at the time of such acceleration. 
 10.18 Conflict; Construction of
Documents. In the event of any conflict between the provisions of this Agreement and any of the other Loan Documents, the provisions of this Agreement shall control. The parties hereto acknowledge that each is represented by separate counsel
in connection with the negotiation and drafting of the Loan Documents and that the Loan Documents shall not be subject to the principle of construing their meaning against the party that drafted them. 
 10.19 No Third Party Beneficiaries. The Loan Documents are solely for the benefit of Lender and Borrower and nothing contained in any Loan
Document shall be deemed to confer upon anyone other than the Lender and Borrower any right to insist upon or to enforce the performance or observance of any of the obligations contained therein. 
 10.20 Yield Maintenance Premium. Borrower acknowledges that (a) Lender is making the Loan in consideration of the receipt by Lender of
all interest and other benefits intended to be conferred by the Loan Documents and (b) if payments of Principal are made to 
  

 83 

 Lender prior to the Stated Maturity Date, for any reason whatsoever, whether voluntary, as a result of Lender’s
acceleration of the Loan after an Event of Default, by operation of law or otherwise, Lender will not receive all such interest and other benefits and may, in addition, incur costs. For these reasons, and to induce Lender to make the Loan, Borrower
agrees that, except as expressly provided in Article 7 hereof, all prepayments, if any, whether voluntary or involuntary, will be accompanied by the Yield Maintenance Premium. Such Yield Maintenance Premium shall be required whether
payment is made by Borrower, by a Person on behalf of Borrower, or by the purchaser at any foreclosure sale, and may be included in any bid by Lender at such sale. Borrower further acknowledges that (A) it is a knowledgeable real estate
developer and/or investor; (B) it fully understands the effect of the provisions of this Section 10.20, as well as the other provisions of the Loan Documents; (C) the making of the Loan by Lender at the Interest Rate and other
terms set forth in the Loan Documents are sufficient consideration for Borrower’s obligation to pay a Yield Maintenance Premium (if required); and (D) Lender would not make the Loan on the terms set forth herein without the inclusion of
such provisions. Borrower also acknowledges that the provisions of this Agreement limiting the right of prepayment and providing for the payment of the Yield Maintenance Premium and other charges specified herein were independently negotiated and
bargained for, and constitute a specific material part of the consideration given by Borrower to Lender for the making of the Loan except as expressly permitted hereunder. 
 10.21 Assignment. The Loan, the Note, the Loan Documents and/or Lender’s rights, title, obligations and interests therein may be
assigned by Lender and any of its successors and assigns to any Person at any time in its discretion, in whole or in part, whether by operation of law (pursuant to a merger or other successor in interest) or otherwise. Upon such assignment, all
references to Lender in this Loan Agreement and in any Loan Document shall be deemed to refer to such assignee or successor in interest and such assignee or successor in interest shall thereafter stand in the place of Lender. Except in connection
with a Transfer and Assumption, Borrower may not assign its rights, title, interests or obligations under this Loan Agreement or under any of the Loan Documents. 
 10.22 Certain Additional Rights of Lender. Notwithstanding anything to the contrary which may be contained in this Agreement, Lender shall have: 
 (i) the right to routinely consult with Borrower’s management regarding the significant business activities and business and financial developments
of Borrower, provided, however, that such consultations shall not include discussions of environmental compliance programs or disposal of hazardous substances. Consultation meetings should occur on a regular basis (no less frequently than quarterly)
with Lender having the right to call special meetings at any reasonable times; 
 (ii) the right, in accordance with the terms of this
Agreement, to examine the books and records of Borrower at any time upon reasonable notice; 
 (iii) the right, in accordance with the terms
of this Agreement, to receive monthly, quarterly and year-end financial reports of Borrower, including balance sheets, statements of income, shareholder’s equity and cash flow, a management report and schedules of outstanding indebtedness;

  

 84 

 (iv) the right, in accordance with the terms of this Agreement, to restrict financing to be obtained
with respect to the Property so long as any portion of the Debt remains outstanding; 
 (v) the right, in accordance with the terms of this
Agreement, to restrict, upon the occurrence of an Event of Default, Borrower’s payments of management, consulting, director or similar fees to Affiliates of Borrower from the Rents; 
 (vi) the right, in accordance with the terms of this Agreement (during the continuance of a Cash Management Period), to approve any operating budget
and/or capital budget of Borrower; 
 (vii) the right, without restricting any other rights of Lender under this Agreement (including any
similar right), to approve any acquisition by Borrower of any other significant property (other than personal property required for the day to day operation of the Property); 
 (viii) the right, in accordance with the terms of this Agreement, to restrict the transfer of interests in Borrower held by its partners, and the right
to restrict the transfer of interests in such partners, except for any transfer that is a Permitted Transfer. 
 The rights described above may be exercised
directly or indirectly by any Person that owns substantially all of the ownership interests in Lender. The provisions of this Section are intended to satisfy the requirement of management rights for purposes of the Department of Labor
“plan assets” regulation 29 C.F.R., Section 2510.3-101. 
 10.23 Set-Off. In addition to any rights and remedies of
Lender provided by this Loan Agreement and by law, upon the occurrence of an Event of Default, Lender shall have the right, without prior notice to Borrower, any such notice being expressly waived by Borrower to the extent permitted by applicable
law, upon any amount becoming due and payable by Borrower hereunder (whether at the stated maturity, by acceleration or otherwise) to set-off and appropriate and apply against such amount any and all deposits (general or special, time or demand,
provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by Lender or any Affiliate
thereof to or for the credit or the account of Borrower. Lender agrees promptly to notify Borrower after any such set-off and application made by Lender; provided that the failure to give such notice shall not affect the validity of such
set-off and application. 
 10.24 Counterparts. 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 together constitute one and the same instrument. 
 [Remainder of Page Intentionally Left Blank] 
  

 85 

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

					
	 TPG-2101 CITYWEST 1 & 2, L.P., a Delaware limited
 partnership

		
	By:	 	 TPG-2101 CityWest 1 & 2 GP, LLC, a Delaware
 limited liability company, its General Partner

			
		 	By:	 	  

			
		 	Name:	 	Todd L. Merkle
			
		 	Title:	 	Vice President
	
	 GREENWICH CAPITAL FINANCIAL PRODUCTS,
 INC., a Delaware corporation

		
	By:	 	  

		
	Name:	 	
		
	Title:	 	

 Schedule 1 
 Intentionally Omitted 

 Schedule 2 
 Exceptions to Representations and Warranties 
 1. With respect to the representations contained in Section 412,
the following contracts are not terminable on one (1) month’s notice or less: 
  

	(a)	Otis Elevator; 

  

	(b)	FireTron Inc.; and 

  

	(c)	Mueller Water Conditioning (multiple contracts). 

 2. With respect to the
representations contained in Section 4.6, as of the date to which this Schedule 2 is attached, the parcels comprising the Property are not separate tax lots (a portion of the Property (Building 4) shares a tax lot with a portion of the Other
Property (Building 1). Following the funding of the Loan, Borrower intends to create separate tax lots so that each parcel comprising the Property will be a separate tax lot and each such parcel will not be a portion of any other tax lot that is a
part of the Property. 

 Schedule 3 
 Rent Roll 
 (See Attached) 

 Schedule 4A 
 Organization of Borrower 
 (See Attached) 

 Schedules 4B-D 
 Post-Closing Potential Organization of Borrower 
 (See Attached) 

 Schedule 5 
 Definition of Special Purpose Bankruptcy Remote Entity 
 A “Special Purpose Bankruptcy Remote
Entity” means (x) a limited liability company that is a Single Member Bankruptcy Remote LLC or (y) a corporation, limited partnership or limited liability company which at all times since its formation and at all times
thereafter 
 (i) was and will be organized solely for the purpose of (A) owning and operating the Property or
(B) acting as a general partner of the limited partnership that owns the Property or member of the limited liability company that owns the Property or (C) acting as a general partner or managing member of the Special Purpose Bankruptcy
Remote Entity that is the general partner or managing member of the limited partnership or limited liability company that owns the Property; 
 (ii) has not engaged and will not engage in any business unrelated to (A) the ownership of the Property, (B) acting as general partner of the limited partnership that owns the Property or (C) acting as
a member of the limited liability company that owns the Property, or (D) acting as a general partner or managing member of the Special Purpose Bankruptcy Remote Entity that is the general partner or managing member of the limited partnership or
limited liability company that owns the Property, as applicable; 
 (iii) has not had and will not have any assets other than
those related to the Property or its partnership or limited liability company interest in the limited partnership or limited liability company that owns the Property, or its membership interest in the limited liability company that is the general
partner of the limited partnership that owns the Property, as applicable; 
 (iv) to the fullest extent permitted by law, has
not engaged, sought or consented to and will not engage in, seek or consent to any dissolution, winding up, liquidation, consolidation, merger, asset sale (except as expressly permitted by this Agreement), transfer of partnership or limited
liability company interests or the like, or amendment of its limited partnership agreement, articles of incorporation, articles of organization, certificate of formation or limited liability company agreement (as applicable); 
 (v) if such entity is a limited partnership, has and will have, as its only general partners, Special Purpose Bankruptcy Remote Entities
that are corporations or limited liability companies; 
 (vi) if such entity is a corporation, has and will have at least one
Independent Director, and has not caused or allowed and will not cause or allow the board of directors of such entity to take any action requiring the unanimous affirmative vote of 100% of the members of its board of directors unless all of the
directors and all Independent Directors shall have participated in such vote; 
 (vii) if such entity is a limited liability
company, has and will have at least one member that has been and will be a Special Purpose Bankruptcy Remote Entity that has been and will be a corporation or limited liability company and such corporation or limited liability company is the
managing member of such limited liability company; 

 (viii) if such entity is a limited liability company, has and will have articles of
organization, a certificate of formation and/or an operating agreement, as applicable, providing that (A) such entity will dissolve only upon the bankruptcy of the managing member, (B) the vote of a majority-in-interest of the remaining
members is sufficient to continue the life of the limited liability company in the event of such bankruptcy of the managing member and (C) if the vote of a majority-in-interest of the remaining members to continue the life of the limited
liability company following the bankruptcy of the managing member is not obtained, the limited liability company may not liquidate the Property without the consent of the applicable Rating Agencies for as long as the Loan is outstanding; 

(ix) has not, and without the unanimous consent of all of its partners, directors or members (including all Independent Directors), as
applicable, will not, with respect to itself or to any other entity in which it has a direct or indirect legal or beneficial ownership interest (A) file, or consent to the filing of, a bankruptcy, insolvency or reorganization petition or
otherwise institute insolvency proceedings or otherwise seek any relief under any laws relating to the relief from debts or the protection of debtors generally, (B) seek or consent to the appointment of a receiver, liquidator, assignee,
trustee, sequestrator, custodian or any similar official for such entity or for all or any portion of such entity’s properties, (C) make any assignment for the benefit of such entity’s creditors or (D) take any action that might
cause such entity to become insolvent; 
 (x) has remained and will remain solvent and has maintained and will maintain
adequate capital in light of its contemplated business operations, provided, however, the foregoing shall not require the making of any additional capital contributions; 
 (xi) has not failed and will not fail to correct any known misunderstanding regarding the separate identity of such entity; 
 (xii) has maintained and will maintain its accounts, books and records separate from any other Person and will file its own tax returns;

 (xiii) has maintained and will maintain its books, records, resolutions and agreements as official records; 
 (xiv) has not commingled and will not commingle its funds or assets with those of any other Person; 
 (xv) has held and will hold its assets in its own name; 
 (xvi) has conducted and will conduct its business in its name, 
 (xvii) has maintained and will maintain its financial statements, accounting records and other entity documents separate from any other
Person; 
  

 Sch. 5-2 

 (xviii) has paid and will pay its own liabilities, including the salaries of its own
employees, out of its own funds and assets, provided, however, the foregoing shall not require the making of any additional capital contributions; 
 (xix) has observed and will observe all partnership, corporate or limited liability company formalities, as applicable; 
 (xx) has maintained and will maintain an arm’s-length relationship with its Affiliates; 
 (xxi) (a) if such entity owns the Property, has and will have no indebtedness other than the Loan and unsecured trade payables in the ordinary course of business relating to the ownership and operation of Property which (1) do not
exceed, at any time, a maximum amount of 2% of the original amount of the Principal and (2) are paid within sixty (60) days of the date incurred, or (b) if such entity acts as the general partner of a limited partnership which owns
the Property, has and will have no indebtedness other than unsecured trade payables in the ordinary course of business relating to acting as general partner of the limited partnership which owns the Property which (1) do not exceed, at any
time, $10,000 and (2) are paid within thirty (30) days of the date incurred, or (c) if such entity acts as a managing member of a limited liability company which owns the Property, has and will have no indebtedness other than
unsecured trade payables in the ordinary course of business relating to acting as a member of the limited liability company which owns the Property which (1) do not exceed, at any time, $10,000 and (2) are paid within thirty (30) days
of the date incurred; 
 (xxii) has not and will not assume or guarantee or become obligated for the debts of any other Person
or hold out its credit as being available to satisfy the obligations of any other Person except for the Loan; 
 (xxiii) has
not and will not acquire obligations or securities of its partners, members or shareholders; 
 (xxiv) has allocated and will
allocate fairly and reasonably shared expenses, including shared office space, and uses separate stationery, invoices and checks; 
 (xxv) except in connection with the Loan, has not pledged and will not pledge its assets for the benefit of any other Person; 
 (xxvi) has held itself out and identified itself and will hold itself out and identify itself as a separate and distinct entity under its own name and not as a division or part of any other Person; 
 (xxvii) has maintained and will maintain its assets in such a manner that it will not be costly or difficult to segregate, ascertain or
identify its individual assets from those of any other Person; 
 (xxviii) has not made and will not make loans to any Person;

  

 Sch. 5-3 

 (xxix) has not identified and will not identify its partners, members or shareholders, or
any Affiliate of any of them, as a division or part of it; 
 (xxx) has not entered into or been a party to, and will not
enter into or be a party to, any transaction with its partners, members, shareholders or Affiliates except in the ordinary course of its business and on terms which are intrinsically fair and are no less favorable to it than would be obtained in a
comparable arm’s-length transaction with an unrelated third party; 
 (xxxi) has and will have no obligation to indemnify
its partners, officers, directors or members, as the case may be, or has such an obligation that is fully subordinated to the Debt and will not constitute a claim against it if cash flow in excess of the amount required to pay the Debt is
insufficient to pay such obligation; and 
 (xxxii) to the fullest extent permitted by law, will consider the interests of its
creditors in connection with all corporate, partnership or limited liability actions, as applicable. 
 “Independent Director” means
(x) in the case of a Single Member Bankruptcy Remote LLC: a natural person selected by Borrower and reasonably satisfactory to Lender who shall not have been at the time of such individual’s appointment as an Independent Director of the
Single Member Bankruptcy Remote LLC, does not thereafter become while serving as an Independent Director (except pursuant to an express provision in the Single Member Bankruptcy Remote LLC’s limited liability company agreement providing for the
Independent Director to become a Special Member (defined below) upon the sole member of such Single Member Bankruptcy Remote LLC ceasing to be a member in such Single Member Bankruptcy Remote LLC) and shall not have been at any time during the
preceding five (5) years (i) a shareholder/partner/member of, or an officer or employee of, Borrower or any of its shareholders, subsidiaries or Affiliates, (ii) a director (other than as an Independent Director of the Borrower or in
a similar capacity with an Affiliate of the Borrower) of any shareholder, subsidiary or Affiliate of Borrower, (iii) a customer of, or supplier to, Borrower or any of its shareholders, subsidiaries or Affiliates (other than an Independent
Director provided by a company in the business of providing independent directors and other related services), (iv) a Person who Controls any such shareholder, supplier or customer, or (v) a member of the immediate family of any such
shareholder/ director/partner/member, officer, employee, supplier or customer or of any director of Borrower (other than as an Independent Director); and (y) in the case of a corporation, an individual selected by Borrower and reasonably
satisfactory to Lender who shall not have been at the time of such individual’s appointment as a director, does not thereafter become while serving as an Independent Director and shall not have been at any time during the preceding five
(5) years (i) a shareholder/partner/member of, or an officer, employee, consultant, agent or advisor of, Borrower or any of its shareholders, subsidiaries, members or Affiliates, (ii) a director of any shareholder, subsidiary, member,
or Affiliate of Borrower other than Borrower’s general partner or managing member, (iii) a customer of, or supplier to, Borrower or any of its shareholders, subsidiaries or Affiliates that derives more than 10% of its purchases or income
from its activities with Borrower or any Affiliate of Borrower, (iv) a Person who Controls any such shareholder, supplier or customer, or (v) a member of the immediate family (including a grandchild or sibling) of any such
shareholder/director/partner/member, officer, employee, supplier or customer or of any other director of Borrower’s general partner or managing member. 
  

 Sch. 5-4 

 “Single Member Bankruptcy Remote LLC” means a limited liability company organized
under the laws of the State of Delaware which at all times since its formation and at all times thereafter (i) complies with the following clauses of the definition of Special Purpose Bankruptcy Remote Entity above: (i)(A), (ii)(A), (iii),
(iv), (ix), (x), (xi) and (xiii) through (xxxii); (ii) has maintained and will maintain its accounts, books and records separate from any other person; (iii) has and will have a limited liability company agreement which provides
that the business and affairs of Borrower shall be managed by or under the direction of a board of one or more directors designated by Sole Member, and at all times there shall be at least one (1) duly appointed Independent Director on the
board of directors, and the board of directors will not take any action requiring the unanimous affirmative vote of 100% of the members of its board of directors unless, at the time of such action there are at least one (1) member of the board
of directors who are Independent Directors, and all of the directors and all Independent Directors shall have participated in such vote; (iv) has and will have a limited liability company agreement which provides that, as long as any portion of
the Debt remains outstanding, (A) upon the occurrence of any event that causes Sole Member to cease to be a member of Borrower (other than upon continuation of the Borrower without dissolution (x) upon an assignment by Sole Member of all
of its limited liability company interest in Borrower and the admission of the transferee, if permitted pursuant to the organizational documents of Borrower, or (y) the resignation of Sole Member and the admission of an additional member of
Borrower, if permitted pursuant to the organizational documents of Borrower), the person acting as an Independent Director of Borrower shall, without any action of any Person and simultaneously with Sole Member ceasing to be a member of Borrower,
automatically be admitted as a member of Borrower (the “Special Member”) and shall preserve and continue the existence of Borrower without dissolution, (B) no Special Member may resign or transfer its rights as Special
Member unless (x) a successor Special Member has been admitted to Borrower as a Special Member, and (y) such successor Special Member has also accepted its appointment as an Independent Director, provided, however, the Special Member shall
automatically cease to be a member of the Borrower upon the admission to the Borrower of a substitute member and (C) except as expressly permitted pursuant to the terms of this Agreement or the limited liability company agreement of the
Borrower, Sole Member may not resign and no additional member shall be admitted to Borrower; (v) has and will have a limited liability company agreement which provides that, as long as any portion of the Debt remains outstanding,
(A) Borrower shall be dissolved, and its affairs shall be would up only upon the first to occur of the following: (x) the termination of the legal existence of the last remaining member of Borrower or the occurrence of any other event
which terminates the continued membership of the last remaining member of Borrower in Borrower unless the business of Borrower is continued without dissolution in a manner permitted by its limited liability company agreement or the Delaware Limited
Liability Company Act (the “Act”) or (y) the entry of a decree of judicial dissolution under Section 18-802 of the Act; (B) upon the occurrence of any event that causes the last remaining member of Borrower to
cease to be a member of Borrower or that causes Sole Member to cease to be a member of Borrower (other than (x) upon an assignment by Sole Member of all of its limited liability company interest in Borrower and the admission of the transferee,
if permitted pursuant to the organizational 
  

 Sch. 5-5 

 documents of Borrower, or (y) the resignation of Sole Member and the admission of an additional member of Borrower,
if permitted pursuant to the organizational documents of Borrower), to the fullest extent permitted by law, the personal representative of such member shall be authorized to, and shall, within 90 days after the occurrence of the event that
terminated the continued membership of such member in Borrower, agree in writing to continue the existence of Borrower and to the admission of the personal representative or its nominee or designee, as the case may be, as a substitute member of
Borrower, effective as of the occurrence of the event that terminated the continued membership of such member in Borrower; (C) the bankruptcy of Sole Member or a Special Member shall not cause such member or Special Member, respectively, to
cease to be a member of Borrower and upon the occurrence of such an event, the business of Borrower shall continue without dissolution; (D) in the event of dissolution of Borrower, Borrower shall conduct only such activities as are necessary to
wind up its affairs (including the sale of the assets of Borrower in an orderly manner), and the assets of Borrower shall be applied in the manner, and in the order of priority, set forth in Section 18-804 of the Act; and (E) to the
fullest extent permitted by law, each of Sole Member and the Special Members shall irrevocably waive any right or power that they might have to cause Borrower or any of its assets to be partitioned, to cause the appointment of a receiver for all or
any portion of the assets of Borrower, to compel any sale of all or any portion of the assets of Borrower pursuant to any applicable law or to file a complaint or to institute any proceeding at law or in equity to cause the dissolution, liquidation,
winding up or termination of Borrower. 
  

 Sch. 5-6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}]]