Document:

Exhibit 10.2

 

FORWARD PURCHASE AGREEMENT

 

This Forward Purchase
Agreement (this “Agreement”) is entered into as of April 28, 2020, by and among CC Neuberger Principal
Holdings I, a Cayman Islands exempted limited company (the “Company”), and the party listed as the purchaser
on the signature page hereof (the “Purchaser”).

 

WHEREAS, the Company
was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses (a “Business Combination”);

 

WHEREAS, the Company
has filed with the U.S. Securities and Exchange Commission (the “SEC”) a draft registration statement on Form S-1
(the “Registration Statement”) for its initial public offering (“IPO”) of units (the “Public
Units”) at a price of $10.00 per Public Unit, each comprised of one Class A ordinary share of the Company, par value
$0.0001 per share (the “Class A Share(s)”), and one-third of one redeemable warrant, where each whole redeemable
warrant is exercisable to purchase one Class A Share at an exercise price of $11.50 per share (the “Warrant(s)”);

 

WHEREAS, following
the closing of the IPO (the “IPO Closing”), the Company will seek to identify and consummate a Business Combination;
and

 

WHEREAS, the parties
wish to enter into this Agreement, pursuant to which immediately prior to the closing of the Company’s initial Business Combination
(the “Business Combination Closing”), the Company shall issue and sell, and the Purchaser shall purchase, on
a private placement basis, the number of Class A Shares determined pursuant to Section 1(a)(i) hereof (the “Forward
Purchase Shares”) and the applicable number of Warrants determined pursuant to Section 1(a)(i) hereof, with
one Warrant being issuable to the Purchaser per each increment of four Forward Purchase Shares actually issued and sold to the
Purchaser hereunder (the “Forward Purchase Warrant(s)” and together with the Forward Purchase Shares, the “Forward
Purchase Securities”) on the terms and conditions set forth herein.

 

NOW, THEREFORE, in
consideration of the premises, representations, warranties and the mutual covenants contained in this Agreement, and for other
good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree
as follows:

 

1.            Sale
and Purchase.

 

(a)            Forward
Purchase Securities.

 

(i)            The
Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, (1) the number of Forward
Purchase Shares which is the quotient of (x) the amount of capital committed to the Purchaser and allocated to this Agreement
as notified by the Purchaser to the Company as promptly as practicable after the date hereof and no later than five (5) Business
Days prior to such time as any definitive agreement with respect to a Business Combination is executed by the Company (the “Allocation
Notice”), which amount shall be no more than $200,000,000, and (y) $10.00, the “Number of Forward Purchase
Shares,” plus (2) the number of Forward Purchase Warrants which is the product of (x) the number of Forward
Purchase Shares as determined by clause (1) and (y) 1/4, the “Number of Forward Purchase Warrants”,
for an aggregate purchase price of $10.00 multiplied by the number of Forward Purchase Shares issued and sold hereunder (the “FPS
Purchase Price”). No fractional Forward Purchase Warrants will be issued.

 

(ii)            Each
Forward Purchase Warrant will have the same terms as each Warrant sold as part of the Public Units in the IPO (the “Public
Warrants”), and will be subject to the terms and conditions of the Warrant Agreement to be entered into between the Company
and Continental Stock Transfer & Trust Company, as Warrant Agent, in connection with the IPO (the “Warrant Agreement”).
Each Forward Purchase Warrant will entitle the holder thereof to purchase one Class A Share at a price of $11.50 per share,
subject to adjustment as described in the Warrant Agreement, and only whole Forward Purchase Warrants will be exercisable. The
Forward Purchase Warrants will become exercisable on the later of 30 days after the Business Combination Closing and 12 months
from the IPO Closing, and will expire five years after the Business Combination Closing or earlier upon redemption or the liquidation
of the Company, as described in the Warrant Agreement.

 

     

     

    

 

(iii)            The
Company shall deliver written notice to the Purchaser as early as practicable, and in any case at least eleven (11) Business Days
before the funding of the FPS Purchase Price to the Escrow Account (defined below), specifying the anticipated date of the Business
Combination Closing, the aggregate FPS Purchase Price and instructions for wiring the FPS Purchase Price to an account (the “Escrow
Account”) of a third-party escrow agent, which shall be the Company’s transfer agent (the “Escrow Agent”),
pursuant to an escrow agreement between the Company and the Escrow Agent (the “Escrow Agreement”). Two (2) Business
Days before the anticipated date of the Business Combination Closing specified in such written notice, the Purchaser shall deliver
the FPS Purchase Price in cash via wire transfer to the account specified in such written notice, to be held in escrow pending
the Business Combination Closing. If the Business Combination Closing does not occur within thirty (30) days after the Purchaser
delivers the FPS Purchase Price to the Escrow Agent, the Escrow Agreement will provide that the Escrow Agent shall automatically
return to the Purchaser the FPS Purchase Price, provided that the return of the FPS Purchase Price placed in escrow shall not terminate
the Agreement or otherwise relieve either party of any of its obligations hereunder. The Purchaser agrees that it shall cooperate
in good faith and use reasonable best efforts to effect the funding of the FPS Purchase Price on such notice as necessary to facilitate
the consummation of the proposed Business Combination. For the purposes of this Agreement, “Business Day” means
any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking institutions are generally
authorized or required by law or regulation to close in the City of New York, New York.

 

(iv)            The
closing of the sale of the Forward Purchase Securities (the “FPS Closing”) shall be held on the same date as,
and immediately prior to, the Business Combination Closing (such date being referred to as the “Closing Date”).
At the FPS Closing, the Company will issue to the Purchaser the Forward Purchase Securities, registered in the name of the Purchaser,
against (and concurrently with) release of the FPS Purchase Price by the Escrow Agent to the Company.

 

(b)            Delivery
of Forward Purchase Securities.

 

(i)            The
Company shall register the Purchaser as the owner of the Forward Purchase Securities purchased by the Purchaser hereunder in the
register of members of the Company and with the Company’s transfer agent by book entry on or promptly after (but in no event
more than two (2) Business Days after) the date of the FPS Closing.

 

(ii)            Each
register and book entry for the Forward Purchase Securities purchased by the Purchaser hereunder shall contain a notation, and
each certificate (if any) evidencing the Forward Purchase Securities shall be stamped or otherwise imprinted with a legend, in
substantially the following form:

 

“THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION, AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS.”

 

(c)            Legend
Removal. If the Forward Purchase Securities are eligible to be sold without restriction under, and without the Company being
in compliance with the current public information requirements of, Rule 144 under the Securities Act of 1933, as amended (the
 “Securities Act”), then at the Purchaser’s request, the Company will, at its sole expense, cause the Company’s
transfer agent to remove the legend set forth in Section 1(b)(ii) hereof. In connection therewith, if required by the
Company’s transfer agent, the Company will promptly cause an opinion of counsel to be delivered to and maintained with its
transfer agent, together with any other authorizations, certificates and directions required by the transfer agent, that authorize
and direct the transfer agent to transfer such Forward Purchase Securities without any such legend; provided, however,
that the Company will not be required to deliver any such opinion, authorization or certificate or direction if it reasonably believes
that removal of the legend could reasonably be expected to result in or facilitate transfers of Forward Purchase Securities in
violation of applicable law.

 

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(d)            Registration
Rights. The Purchaser shall have registration rights with respect to the Forward Purchase Securities as set forth on Exhibit A
(the “Registration Rights”).

 

2.            Representations
and Warranties of the Purchaser. The Purchaser represents and warrants to the Company as follows, as of the date hereof:

 

(a)            Organization
and Power. The Purchaser is duly organized, validly existing, and in good standing under the laws of the jurisdiction of its
formation (if the concept of “good standing” is a recognized concept in such jurisdiction) and has all requisite power
and authority to carry on its business as presently conducted and as proposed to be conducted.

 

(b)            Authorization.
The Purchaser has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by the Purchaser,
will constitute the valid and legally binding obligation of the Purchaser, enforceable in accordance with its terms, except (i) as
limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application
affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific
performance, injunctive relief or other equitable remedies, or (iii) to the extent the indemnification provisions contained
in the Registration Rights may be limited by applicable federal or state securities laws.

 

(c)            Governmental
Consents and Filings. No consent, approval, order or authorization of, or registration, qualification, designation, declaration
or filing with, any federal, state or local governmental authority is required on the part of the Purchaser in connection with
the consummation of the transactions contemplated by this Agreement.

 

(d)            Compliance
with Other Instruments. The execution, delivery and performance by the Purchaser of this Agreement and the consummation by
the Purchaser of the transactions contemplated by this Agreement will not result in any violation or default (i) of any provisions
of its organizational documents, if applicable, (ii) of any instrument, judgment, order, writ or decree to which it is a party
or by which it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is bound, (iv) under
any lease, agreement, contract or purchase order to which it is a party or by which it is bound or (v) of any provision of
federal or state statute, rule or regulation applicable to the Purchaser, in each case (other than clause (i)), which would
have a material adverse effect on the Purchaser or its ability to consummate the transactions contemplated by this Agreement.

 

(e)            Purchase
Entirely for Own Account. This Agreement is made with the Purchaser in reliance upon the Purchaser’s representation to
the Company, which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that the Forward Purchase
Securities to be acquired by the Purchaser will be acquired for investment for the Purchaser’s own account, not as a nominee
or agent, and not with a view to the resale or distribution of any part thereof, and that the Purchaser has no present intention
of selling, granting any participation in, or otherwise distributing the same in violation of law. By executing this Agreement,
the Purchaser further represents that the Purchaser does not presently have any contract, undertaking, agreement or arrangement
with any Person to sell, transfer or grant participations to such Person or to any third Person, with respect to any of the Forward
Purchase Securities. If the Purchaser was formed for the specific purpose of acquiring the Forward Purchase Securities, each of
its equity owners is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act. For purposes of this Agreement, “Person” means an individual, a limited liability company, a partnership,
a joint venture, a corporation, a trust, an unincorporated organization, any other entity or any government or any department or
agency thereof.

 

(f)            Disclosure
of Information. The Purchaser has had an opportunity to discuss the Company’s business, management, financial affairs
and the terms and conditions of the offering and sale of the Forward Purchase Securities, as well as the terms of the IPO, with
the Company’s management.

 

(g)            Restricted
Securities. The Purchaser understands that the offer and sale of the Forward Purchase Securities to the Purchaser has not been,
and will not be, registered under the Securities Act, by reason of a specific exemption from the registration provisions of the
Securities Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Purchaser’s
representations as expressed herein. The Purchaser understands that the Forward Purchase Securities are “restricted securities”
under applicable U.S. federal and state securities laws and that, pursuant to these laws, the Purchaser must hold the Forward Purchase
Securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration
and qualification requirements is available. The Purchaser acknowledges that the Company has no obligation to register or qualify
the Forward Purchase Securities, or any Class A Shares which the Forward Purchase Securities may be converted into or exercised
for, for resale, except pursuant to the Registration Rights. The Purchaser further acknowledges that if an exemption from registration
or qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner
of sale, the holding period for the Forward Purchase Securities, and requirements relating to the Company which are outside of
the Purchaser’s control, and which the Company is under no obligation and may not be able to satisfy. The Purchaser acknowledges
that the Company filed the Registration Statement for the IPO with the SEC. The Purchaser understands that the offering of the
Forward Purchase Securities hereunder is not, and is not intended to be, part of the IPO, and that the Purchaser will not be able
to rely on the protection of Section 11 of the Securities Act with respect to such offering of the Forward Purchase Securities.

 

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(h)            No
Public Market. The Purchaser understands that no public market now exists for the Forward Purchase Securities, and that the
Company has made no assurances that a public market will ever exist for the Forward Purchase Securities.

 

(i)            High
Degree of Risk. The Purchaser understands that its agreement to purchase the Forward Purchase Securities involves a high degree
of risk which could cause the Purchaser to lose all or part of its investment.

 

(j)            Accredited
Investor. The Purchaser is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated
under the Securities Act.

 

(k)            Foreign
Investors. If the Purchaser is not a United States person (as defined by Section 7701(a)(30) of the U.S. Internal Revenue
Code of 1986, as amended), the Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of
its jurisdiction in connection with any invitation to subscribe for the Forward Purchase Securities or any use of this Agreement,
including (i) the legal requirements within its jurisdiction for the purchase of the Forward Purchase Securities, (ii) any
foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be obtained,
and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale,
or transfer of the Forward Purchase Securities. The Purchaser’s subscription and payment for and continued beneficial ownership
of the Forward Purchase Securities will not violate any applicable securities or other laws of the Purchaser’s jurisdiction.

 

(l)            No
General Solicitation. Neither the Purchaser, nor any of its officers, directors, employees, agents, stockholders or partners
has either directly or indirectly, including through a broker or finder, (i) to its knowledge, engaged in any general solicitation,
or (ii) published any advertisement in connection with the offer and sale of the Forward Purchase Securities.

 

(m)            Residence.
The principal place of business of the Purchaser is the office located at the address of the Purchaser set forth on the signature
page hereof.

 

(n)            Non-Public
Information. The Purchaser acknowledges its obligations under applicable securities laws with respect to the treatment of material
non-public information relating to the Company.

 

(o)            Adequacy
of Financing. The Purchaser has, or will have, from and after receipt of capital commitments not subject to opt-out rights
(or for which the party with such opt-out rights has agreed to fund in respect of this Agreement) in an aggregate amount not less
than the FPS Purchase Price, available to it sufficient funds to satisfy its obligations under this Agreement.

 

(p)            Affiliation
of Certain FINRA Members. The Purchaser is neither a person associated nor affiliated with any underwriter of the IPO or, to
its actual knowledge, any other member of the Financial Industry Regulatory Authority (“FINRA”) that is participating
in the IPO.

 

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(q)            No
Other Representations and Warranties; Non-Reliance. Except for the specific representations and warranties contained in this
Section 2 and in any certificate or agreement delivered pursuant hereto, none of the Purchaser nor any person acting on behalf
of the Purchaser nor any of the Purchaser’s affiliates (the “Purchaser Parties”) has made, makes or shall
be deemed to make any other express or implied representation or warranty with respect to the Purchaser and the offering, sale
and purchase of the Forward Purchase Securities, and the Purchaser Parties disclaim any such representation or warranty. Except
for the specific representations and warranties expressly made by the Company in Section 3 of this Agreement and in any certificate
or agreement delivered pursuant hereto, the Purchaser Parties specifically disclaim that they are relying upon any other representations
or warranties that may have been made by the Company, any person on behalf of the Company or any of the Company’s affiliates
(collectively, the “Company Parties”).

 

3.            Representations
and Warranties of the Company. The Company represents and warrants to the Purchaser as follows:

 

(a)            Incorporation
and Corporate Power. The Company is an exempted company duly incorporated and validly existing and in good standing under the
laws of the Cayman Islands and has all requisite corporate power and authority to carry on its business as presently conducted
and as proposed to be conducted. The Company has no subsidiaries.

 

(b)            Capitalization.
The authorized share capital of the Company consists, as of the date hereof, of:

 

(i)            500,000,000
Class A Shares, none of which are issued and outstanding;

 

(ii)            50,000,000
Class B ordinary shares of the Company, par value $0.0001 per share (“Class B Shares”), 15,350,000
of which are issued and outstanding; and all of the outstanding Class B ordinary shares of the Company have been duly authorized,
are fully paid and nonassessable and were issued in compliance with all applicable laws; and

 

(iii)            1,000,000
preference shares, none of which are issued and outstanding.

 

(c)            Authorization.
All corporate action required to be taken by the Company’s Board of Directors and shareholders in order to authorize the
Company to enter into this Agreement, and to issue the Forward Purchase Securities at the FPS Closing, and the securities issuable
upon conversion or exercise of the Forward Purchase Securities, has been taken or will be taken prior to the FPS Closing, as applicable.
All action on the part of the shareholders, directors and officers of the Company necessary for the execution and delivery of this
Agreement, the performance of all obligations of the Company under this Agreement to be performed as of the FPS Closing, and the
issuance and delivery of the Forward Purchase Securities and the securities issuable upon conversion or exercise of the Forward
Purchase Securities has been taken or will be taken prior to the FPS Closing, as applicable. This Agreement, when executed and
delivered by the Company, shall constitute the valid and legally binding obligation of the Company, enforceable against the Company
in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally,
(ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies,
or (iii) to the extent the indemnification provisions contained in the Registration Rights may be limited by applicable federal
or state securities laws.

 

(d)            Valid
Issuance of Forward Purchase Securities.

 

(i)            The
Forward Purchase Securities, when issued, sold and delivered in accordance with the terms and for the consideration set forth in
this Agreement and registered in the register of members of the Company, and the securities issuable upon conversion or exercise
of the Forward Purchase Securities, when issued in accordance with the terms of the Forward Purchase Securities and this Agreement,
and registered in the register of members of the Company, will be validly issued, fully paid and nonassessable and free of all
preemptive or similar rights, liens, encumbrances and charges with respect to the issue thereof and restrictions on transfer other
than restrictions on transfer specified under this Agreement, applicable state and federal securities laws and liens or encumbrances
created by or imposed by the Purchaser. Assuming the accuracy of the representations of the Purchaser in this Agreement and subject
to the filings described in Section 3(e) below, the Forward Purchase Securities will be issued in compliance with all
applicable federal and state securities laws.

 

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(ii)            No
 “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) of the Securities Act (a “Disqualification
Event”) is applicable to the Company or, to the Company’s knowledge, any Company Covered Person (as defined below),
except for a Disqualification Event as to which Rule 506(d)(2)(ii)–(iv) or (d)(3), is applicable. “Company
Covered Person” means, with respect to the Company as an “issuer” for purposes of Rule 506 promulgated
under the Securities Act, any Person listed in the first paragraph of Rule 506(d)(1).

 

(e)            Governmental
Consents and Filings. Assuming the accuracy of the representations and warranties made by the Purchaser in this Agreement,
no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal,
state or local governmental authority is required on the part of the Company in connection with the consummation of the transactions
contemplated by this Agreement, except for any filings pursuant to Regulation D of the Securities Act, applicable state securities
laws, and pursuant to the Registration Rights.

 

(f)            Compliance
with Other Instruments. The execution, delivery and performance of this Agreement and the consummation of the transactions
contemplated by this Agreement by the Company will not result in any violation or default (i) of any provisions of the Company’s
memorandum and articles of association, as they may be amended from time to time (the “Charter”) or its other
governing documents, (ii) of any instrument, judgment, order, writ or decree to which the Company is a party or by which the
Company is bound, (iii) under any note, indenture or mortgage to which the Company is a party or by which the Company is bound,
(iv) under any lease, agreement, contract or purchase order to which the Company is a party or by which the Company is bound
or (v) of any provision of federal or state statute, rule or regulation applicable to the Company, in each case (other
than clause (i)) which would have a material adverse effect on the Company or its ability to consummate the transactions contemplated
by this Agreement.

 

(g)            Operations.
As of the date hereof, the Company has not conducted, and prior to the IPO Closing the Company will not conduct, any operations
other than organizational activities and activities in connection with the IPO and offerings of the Forward Purchase Securities.

 

(h)            Foreign
Corrupt Practices. Neither the Company, nor, to the knowledge of the Company, any director, officer, agent, employee or other
Person acting on behalf of the Company has, in the course of its actions for, or on behalf of, the Company (i) used any corporate
funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (ii) made
any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; (iii) violated
or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any unlawful
bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or
employee.

 

(i)            Compliance
with Anti-Money Laundering Laws. The operations of the Company are and have been conducted at all times in compliance with
applicable financial recordkeeping and reporting requirements and all applicable U.S. and non-U.S. anti-money laundering laws,
rules and regulations, including those of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the USA
Patriot Act of 2001 and the applicable money laundering statutes of all applicable jurisdictions, the rules and regulations
thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency
(collectively, the “Anti-Money Laundering Laws”), and no action, suit or proceeding by or before any court or
governmental agency, authority or body or any arbitrator involving the Company with respect to the Anti-Money Laundering Laws is
pending or, to the knowledge of the Company, threatened.

 

(j)            Absence
of Litigation. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government
agency, self-regulatory organization or body pending or, to the knowledge of the Company, threatened against or affecting the Company
or any of the Company’s officers or directors, whether of a civil or criminal nature or otherwise, in their capacities as
such.

 

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(k)            No
General Solicitation. Neither the Company, nor any of its officers, directors, employees, agents or shareholders has either
directly or indirectly, including through a broker or finder, (i) engaged in any general solicitation, or (ii) published
any advertisement in connection with the offer and sale of the Forward Purchase Securities.

 

(l)            No
Other Representations and Warranties; Non-Reliance. Except for the specific representations and warranties contained in this
Section 3 and in any certificate or agreement delivered pursuant hereto, none of the Company Parties has made, makes or shall
be deemed to make any other express or implied representation or warranty with respect to the Company, the offering, sale and purchase
of the Forward Purchase Securities, the IPO or a potential Business Combination, and the Company Parties disclaim any such representation
or warranty. Except for the specific representations and warranties expressly made by the Purchaser in Section 2 of this Agreement
and in any certificate or agreement delivered pursuant hereto, the Company Parties specifically disclaim that they are relying
upon any other representations or warranties that may have been made by any of the Purchaser Parties.

 

4.            Additional
Agreements, Acknowledgements and Waivers of the Purchaser.

 

(a)            Trust
Account.

 

(i)            The
Purchaser hereby acknowledges that it is aware that the Company will establish a trust account (the “Trust Account”)
for the benefit of its public shareholders upon the IPO Closing. The Purchaser, for itself and its affiliates, hereby agrees that
it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset of the
Company as a result of any liquidation of the Company, except for redemption and liquidation rights, if any, the Purchaser may
have in respect of any Class A Shares issued in the IPO (the “Public Shares”) held by it.

 

(ii)            The
Purchaser hereby agrees that it shall have no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future, except for redemption and liquidation rights, if any, the Purchaser may have in respect
of any Public Shares held by it. In the event the Purchaser has any Claim against the Company under this Agreement, the Purchaser
shall not pursue such Claim against the Trust Account or against the property or any monies in the Trust Account, except for redemption
and liquidation rights, if any, the Purchaser may have in respect of any Public Shares held by it.

 

(b)            No
Short Sales. The Purchaser hereby agrees that neither it, nor any person or entity acting on its behalf or pursuant to any
understanding with it, will engage in any Short Sales with respect to securities of the Company prior to the Business Combination
Closing. For purposes of this Section 4(b), “Short Sales” shall include, without limitation, all “short
sales” as defined in Rule 200 promulgated under Regulation SHO under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), and all types of direct and indirect stock pledges (other than pledges in the ordinary
course of business as part of prime brokerage arrangements), forward sale contracts, options, puts, calls, swaps and similar arrangements
(including on a total return basis), and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers.

 

(c)            Allocation
Notice. The Purchaser shall deliver the Allocation Notice to the Company as promptly as practicable after the date hereof,
and in any event immediately upon the allocation to this Agreement of capital which has been committed to the Purchaser (in accordance
with all binding obligations of the Purchaser), which in no event shall be later than five (5) Business Days prior to such
time as any definitive agreement with respect to a Business Combination is executed by the Company.

 

5.            Additional
Agreements of the Company.

 

(a)            No
Material Non-Public Information. The Company agrees that no information provided to the Purchaser in connection with this Agreement
will, upon the IPO Closing, constitute material non-public information of the Company.

 

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(b)            NYSE
Listing. The Company will use commercially reasonable efforts to effect and maintain the listing of the Class A Shares
on the NYSE (or another national securities exchange).

 

(c)            No
Amendments to Charter. The amended and restated memorandum and articles of association of the Company will be in substantially
the same form of Exhibit B hereto and will not be amended in any material respect prior to the IPO Closing without
the Purchaser’s prior written consent.

 

6.            FPS
Closing Conditions.

 

(a)            The
obligation of the Purchaser to purchase the Forward Purchase Securities at the FPS Closing under this Agreement shall be subject
to the fulfillment, at or prior to the FPS Closing of each of the following conditions, any of which, to the extent permitted by
applicable laws, may be waived by the Purchaser:

 

(i)            The
Business Combination shall be consummated substantially concurrently with, and immediately following, the purchase of the Forward
Purchase Securities;

 

(ii)            The
Purchaser shall have capital commitments not subject to opt-out rights (or, to the extent subject to opt-out rights, for which
the party with such opt-out rights has agreed to fund in respect of this Agreement) allocated to this Agreement sufficient to fund
the FPS Purchase Price; provided, that, immediately upon receipt by the Purchaser of capital commitments which are not subject
to opt-out rights, or capital commitments which are subject to opt-out rights but for which the person entitled to such opt-out
rights has not exercised its veto and the time period for exercising such veto right in respect of the Business Combination which
is contemplated to be consummated hereunder shall have expired in respect of such Business Combination (and which capital shall
be counted solely in respect of such Business Combination), in the aggregate, in an amount equal to the FPS Purchase Price, the
condition set forth in this Section 6(a)(ii) shall be deemed satisfied for all purposes hereunder (and shall not be tested
again);

 

(iii)            The
Company shall have delivered to such Purchaser a certificate evidencing the Company’s good standing as a Cayman Islands exempted
company, as of a date within ten (10) Business Days of the Closing Date;

 

(iv)            The
representations and warranties of the Company set forth in Section 3 of this Agreement shall have been true and correct as
of the date hereof and shall be true and correct as of the FPS Closing, as applicable, with the same effect as though such representations
and warranties had been made on and as of such date (other than any such representation or warranty that is made by its terms as
of a specified date, which shall be true and correct as of such specified date), except where the failure to be so true and correct
would not have a material adverse effect on the Company or its ability to consummate the transactions contemplated by this Agreement;

 

(v)            The
Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Company at or prior to the FPS Closing; and

 

(vi)            No
order, writ, judgment, injunction, decree, determination, or award shall have been entered or threatened by or with any governmental,
regulatory, or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or
prohibition shall be in effect or threatened, preventing the purchase by the Purchaser of the Forward Purchase Securities.

 

(b)            The
obligation of the Company to sell the Forward Purchase Securities at the FPS Closing under this Agreement shall be subject to the
fulfillment, at or prior to the FPS Closing of each of the following conditions, any of which, to the extent permitted by applicable
laws, may be waived by the Company:

 

(i)            The
Business Combination shall be consummated substantially concurrently with, and immediately following, the purchase of the Forward
Purchase Securities;

 

    8 

     

    

 

(ii)            The
representations and warranties of the Purchaser set forth in Section 2 of this Agreement shall have been true and correct
as of the date hereof and shall be true and correct as of the FPS Closing, as applicable, with the same effect as though such representations
and warranties had been made on and as of such date (other than any such representation or warranty that is made by its terms as
of a specified date, which shall be true and correct as of such specified date), except where the failure to be so true and correct
would not have a material adverse effect on the Purchaser or its ability to consummate the transactions contemplated by this Agreement;

 

(iii)            The
Purchaser shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Purchaser at or prior to the FPS Closing; and

 

(iv)            No
order, writ, judgment, injunction, decree, determination, or award shall have been entered or threatened by or with any governmental,
regulatory, or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or
prohibition shall be in effect or threatened, preventing the purchase by the Purchaser of the Forward Purchase Securities.

 

7.            Termination.
This Agreement may be terminated at any time prior to the FPS Closing:

 

(a)            by
mutual written consent of the Company and the Purchaser; or

 

(b)            automatically

 

(i)            if
the IPO is not consummated on or prior to twelve months from the date of this Agreement; or

 

(ii)            if
the Business Combination is not consummated within 24 months from the IPO Closing, or such later date as may be approved by the
Company’s shareholders in accordance with the Charter.

 

In the event of any termination
of this Agreement pursuant to this Section 7, the FPS Purchase Price (and interest thereon, if any), if previously paid, and
all Purchaser’s funds paid in connection herewith shall be promptly returned to the Purchaser in accordance with written
instructions provided by the Purchaser to the Company, and thereafter this Agreement shall forthwith become null and void and have
no effect, without any liability on the part of the Purchaser or the Company and their respective directors, officers, employees,
partners, managers, members, or shareholders and all rights and obligations of each party shall cease; provided, however,
that nothing contained in this Section 7 shall relieve either party from liabilities or damages arising out of any fraud or
willful breach by such party of any of its representations, warranties, covenants or agreements contained in this Agreement. Section 4(a) shall
survive termination of this Agreement.

 

8.            General
Provisions.

 

(a)            Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt, or (a) personal delivery to the party to be notified, (b) when sent, if sent
by electronic mail or facsimile (if any) during normal business hours of the recipient, and if not sent during normal business
hours, then on the recipient’s next Business Day, (c) five (5) Business Days after having been sent by registered
or certified mail, return receipt requested, postage prepaid, or (d) one (1) Business Day after deposit with a nationally
recognized overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. All
communications sent to the Company shall be sent to: CC Neuberger Principal Holdings I, 200 Park Avenue, 58th Floor, New York,
New York 10166, Attn: Douglas Newton, email: newton@cc.capital, with a copy to the Company’s counsel at: Kirkland &
Ellis LLP, 601 Lexington Avenue, New York, New York 10022, Attn: Christian O. Nagler, Esq. and Peter S. Seligson, Esq.,
email: cnagler@kirkland.com and peter.seligson@kirkland.com, fax: (212) 446-4900.

 

All communications
to the Purchaser shall be sent to the Purchaser’s address as set forth on the signature page hereof, or to such e-mail
address, facsimile number (if any) or address as subsequently modified by written notice given in accordance with this Section 8(a).

 

    9 

     

    

 

(b)            No
Finder’s Fees. Other than fees payable to the underwriters of the IPO or any other investment bank or financial advisor
who assists the Company in sourcing targets for a Business Combination, which fees shall be the responsibility of the Company,
each party represents that it neither is nor will be obligated for any finder’s fee or commission in connection with this
transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation
in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending
against such liability or asserted liability) for which the Purchaser or any of its officers, employees or representatives is responsible.
The Company agrees to indemnify and hold harmless the Purchaser from any liability for any commission or compensation in the nature
of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against such
liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

 

(c)            Survival
of Representations and Warranties. All of the representations and warranties contained herein shall survive the FPS Closing.

 

(d)            Entire
Agreement. This Agreement, together with any documents, instruments and writings that are delivered pursuant hereto or referenced
herein, constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes
all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate
in any way to the subject matter hereof or the transactions contemplated hereby.

 

(e)            Successors.
All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding upon, and inure
to the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing in this Agreement, express
or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

(f)            Assignments.
Except as otherwise specifically provided herein, no party hereto may assign either this Agreement or any of its rights, interests,
or obligations hereunder without the prior written consent of the other party. Notwithstanding the foregoing, the Purchaser may
assign and delegate all or a portion of its rights and obligations to purchase the Forward Purchase Securities to one or more other
persons upon the consent of the Company (which consent shall not be unreasonably conditioned, withheld or delayed); provided,
however, that no consent of the Company shall be required if such assignment or delegation is to an affiliate of Purchaser;
provided, further, that no such assignment or delegation shall relieve the Purchaser of its obligations hereunder
(including its obligation to purchase the Number of Forward Purchase Shares and the Number of Forward Purchase Warrants hereunder)
and the Company shall be entitled to pursue all rights and remedies against the Purchaser subject to the terms and conditions hereof.

 

(g)            Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together
will constitute one and the same instrument.

 

(h)            Headings.
The section headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or
interpretation of this Agreement.

 

(i)            Governing
Law. This Agreement, the entire relationship of the parties hereto, and any dispute between the parties (whether grounded in
contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws
of the State of New York, without giving effect to its choice of laws principles.

 

(j)            Jurisdiction.
The parties (i) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of New York and to the
jurisdiction of the United States District Court for the Southern District of New York for the purpose of any suit, action or other
proceeding arising out of or based upon this Agreement, (ii) agree not to commence any suit, action or other proceeding arising
out of or based upon this Agreement except in state courts of New York or the United States District Court for the Southern District
of New York, and (iii) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit,
action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property
is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that
the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced
in or by such court.

 

    10 

     

    

 

(k)            Waiver
of Jury Trial. The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this
Agreement and the transactions contemplated hereby.

 

(l)            Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except with the prior written consent of
the Company and the Purchaser.

 

(m)            Severability.
The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect
the validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to
any party hereto or to any circumstance, is adjudged by a governmental authority, arbitrator, or mediator not to be enforceable
in accordance with its terms, the parties hereto agree that the governmental authority, arbitrator, or mediator making such determination
will have the power to modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to delete
specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced.

 

(n)            Expenses.
Each of the Company and the Purchaser will be responsible for payment of its own costs and expenses incurred in connection with
the preparation, execution and performance of this Agreement and the consummation of the transactions contemplated hereby, including
all fees and expenses of agents, representatives, financial advisors, legal counsel and accountants. The Company shall be responsible
for the fees of its transfer agent; stamp taxes and all of The Depository Trust Company’s fees associated with the issuance
and resale of the Forward Purchase Securities and the securities issuable upon conversion or exercise of the Forward Purchase Securities.

 

(o)            Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement.
Any reference to any federal, state, local, or foreign law will be deemed also to refer to law as amended and all rules and
regulations promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,”
and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine,
feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be construed to
include the plural and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,”
 “hereof,” “hereby,” “hereunder,” and words of similar import refer to
this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend that each
representation, warranty, and covenant contained herein will have independent significance. If any party hereto has breached any
representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty
or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has
not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty,
or covenant.

 

(p)            Waiver.
No waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional
or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder
or affect in any way any rights arising because of any prior or subsequent occurrence.

 

(q)            Confidentiality.
Except as may be required by law, regulation or applicable stock exchange listing requirements, unless and until the transactions
contemplated hereby and the terms hereof are publicly announced or otherwise publicly disclosed by the Company, the parties hereto
shall keep confidential and shall not publicly disclose the existence or terms of this Agreement.

 

(r)            Specific
Performance. The Purchaser agrees that irreparable damage may occur in the event any provision of this Agreement was not performed
by the Purchaser in accordance with the terms hereof and that the Company shall be entitled to specific performance of the terms
hereof, in addition to any other remedy at law or equity.

 

[Signature Page Follows]

 

    11 

     

    

 

IN WITNESS WHEREOF,
the undersigned have executed this Agreement to be effective as of the date first set forth above.

 

	PURCHASER:	 
	 	 
	NEUBERGER BERMAN OPPORTUNISTIC CAPITAL SOLUTIONS MASTER FUND LP	 
	 	 
	By:	/s/ Charles Kantor	 
	Name:	Charles Kantor	 
	Title:	Managing Director	 
	 	 
	Address for Notices:	 
	 	 
	Neuberger Berman Opportunistic Capital Solutions Master Fund LP	 
	 	 
	c/o Neuberger Berman Investment Advisers LLC
 1290 Avenue of the Americas
 New York, New York 10104
 Attention: Lawrence Kohn, Ralph DeFeo and Ephraim Lemberger	 
	 	 
	Email: lawrence.kohn@nb.com, ralph.defeo@nb.com and ephraim.lemberger@nb.com
	 	 
	with a copy (which shall not constitute notice) to:	 
	 	 
	Sidley Austin LLP
 787 Seventh Avenue
 New York, New York 10019
 Attention: Jennifer Spiegel
 Email: jspiegel@sidley.com	 
	 	 
	COMPANY:	 
	 	 
	CC NEUBERGER PRINCIPAL HOLDINGS I	 
	 	 
	By:	/s/ Douglas Newton	 
	Name:	Douglas Newton	 
	Title:	 Chief Financial Officer	 

 

[Signature
Page to Forward Purchase Agreement]

 

     

     

    

 

Exhibit A

 

Registration Rights

 

1.            Within
thirty (30) days after the Business Combination Closing, the Company shall use reasonable best efforts (i) to file a registration
statement on Form S-3 for a secondary offering (including any successor registration statement covering the resale of the
Registrable Securities, a “Resale Shelf”) of (x) the Class A Shares and Warrants (and underlying Class A
Shares) comprising the Forward Purchase Securities and (y) any other equity security of the Company issued or issuable with
respect to the securities referred to in clause (x) by way of a share capitalization or share split or in connection with
a combination of shares, recapitalization, merger, consolidation or reorganization (collectively, for so long as such securities
are held by the Purchaser or its assignees under the Agreement (each, a “Holder”), the “Registrable
Securities”) pursuant to Rule 415 under the Securities Act; provided that if Form S-3 is unavailable for such
a registration, the Company shall register the resale of the Registrable Securities on another appropriate form and undertake to
register the Registrable Securities on Form S-3 as soon as such form is available, (ii) to cause the Resale Shelf to
be declared effective under the Securities Act promptly thereafter, but in no event later than sixty (60) days after the initial
filing of the Resale Shelf, and (iii) to maintain the effectiveness of such Resale Shelf with respect to the Registrable Securities
until the earliest of (A) the date on which such securities are no longer Registrable Securities and (B) the date all
of the Registrable Securities covered by the Resale Shelf can be sold publicly without restriction or limitation under Rule 144
under the Securities Act and without the requirement to be in compliance with Rule 144(c)(1) under the Securities Act.

 

2.            The
Holders may, after the Resale Shelf becomes effective, deliver a written notice to the Company (the “Underwritten Offering
Notice”) specifying that the sale of some or all of the Registrable Securities subject to the Resale Shelf is intended
to be conducted through a firm commitment underwritten offering (an “Underwritten Offering”); provided, however,
that the Holders of Registrable Securities may not, without the Company’s prior written consent, (i) launch an Underwritten
Offering the anticipated gross proceeds of which shall be less than $25,000,000 (unless the Holders are proposing to sell all of
their remaining Registrable Securities), (ii) launch more than three Underwritten Offerings at the request of the Holders
within any three-hundred sixty-five (365) day-period or (iii) launch an Underwritten Offering within the period commencing
fourteen (14) days prior to and ending two (2) days following the Company’s scheduled earnings release date for any
fiscal quarter or year. In the event of an Underwritten Offering, the Holders representing a majority-in-interest of the Registrable
Securities to be included in such Underwritten Offering shall select the managing underwriter(s) for the Underwritten Offering; provided that
the choice of such managing underwriter(s) shall be subject to the consent of the Company, which is not to be unreasonably
withheld, conditioned or delayed. If the underwriter(s) for any Underwritten Offering pursuant to this paragraph 2 of this
Exhibit A (each, a “Secondary Offering”) advise the Company and the Holders that, in their good faith opinion,
marketing factors require a limitation on the number of securities that may be included in such Secondary Offering, the number
of securities to be so included shall be allocated as follows: (i) first, to the Holders that have requested to participate
in such Secondary Offering, allocated pro rata among such Holders on the basis of the percentage of the Registrable Securities
requested to be included in such Secondary Offering by such Holders, and (ii) second, to the holders of any other securities
of the Company that have been requested to be so included.

 

3.            Upon
receipt of prior written notice by any Holder that they intend to effect a sale of Registrable Securities held by them as are then
registered pursuant to the Resale Shelf, the Company shall use its reasonable best efforts to cooperate in such sale (whether or
not such sale constitutes an Underwritten Offering), including by amending or supplementing the prospectus related to such Resale
Shelf as may be reasonably requested by such Holder for so long as such Holder holds Registrable Securities.

 

4.            In
the event the Company is prohibited by applicable rule, regulation or interpretation by the staff (the “Staff”)
of the Securities and Exchange Commission (the “SEC”) from registering all of the Registrable Securities on
the Resale Shelf or the Staff requires that any Holder be specifically identified as an “underwriter” in order to permit
such registration statement to become effective, and such Holder does not consent in writing to being so named as an underwriter
in such registration statement, the number of Registrable Securities to be registered on the Resale Shelf will be reduced on a
pro rata basis among all Holders to be so included, unless otherwise required by the Staff, so that the number of Registrable Securities
to be registered is permitted by the Staff and such Holder is not required to be named as an “underwriter”; provided,
that any Registrable Securities not registered due to this paragraph 4 shall thereafter as soon as allowed by the SEC guidance
be registered to the extent the prohibition no longer is applicable.

 

     

     

    

 

5.            If
at any time the Company proposes to file a registration statement (a “Registration Statement”) on its own behalf,
or on behalf of any other Persons who have registration rights (“Other Holders”), relating to an Underwritten
Offering of ordinary shares (a “Company Offering”), then the Company will provide the Holders with notice in
writing (an “Offer Notice”) at least three (3) Business Days prior to such filing, which Offer Notice will
offer to include in the Registration Statement the Registrable Securities held by each Holder (the “Piggyback Securities”).
Within three (3) Business Days after receiving the Offer Notice, each Holder may make a written request (a “Piggyback
Request”) to the Company to include some or all of such Holder’s Registrable Securities in the Registration Statement.
If the underwriter(s) for any Company Offering advise the Company that, in their good faith opinion, marketing factors require
a limitation on the number of securities that may be included in the Company Offering, the number of securities to be so included
shall be allocated as follows: (i) first, to the Company and the Other Holders, if any; and (ii) second, to the Holders
and any other holders of similar piggyback rights, based pro rata on the value of the securities requested to be sold in such Company
Offering by each requesting holder.

 

6.            In
connection with any Underwritten Offering, the Company shall enter into such customary agreements and take all such other actions
in connection therewith (including those requested by Holders representing a majority-in-interest of the Registrable Securities
to be included in such Underwritten Offering) in order to facilitate the disposition of such Registrable Securities as are reasonably
necessary or required, and in such connection enter into a customary underwriting agreement that provides for customary opinions,
comfort letters and officer’s certificates and other customary deliverables.

 

7.            The
Company shall pay all fees and expenses incident to the performance of or compliance with its obligation to prepare, file and maintain
the Resale Shelf (including the fees of its counsel and accountants). The Company shall also pay all Registration Expenses. For
purposes of this paragraph 7, “Registration Expenses” shall mean the out-of-pocket expenses of any Secondary
Offering and any Company Offering, including, without limitation, the following: (i) all registration and filing fees (including
fees with respect to filings required to be made with FINRA and any securities exchange on which the Registrable Securities are
then listed); (ii) fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements
of counsel for the underwriters in connection with blue sky qualifications of the Registrable Securities); (iii) printing,
messenger, telephone and delivery expenses; (iv) reasonable fees and disbursements of counsel for the Company; (v) reasonable
fees and disbursements of all independent registered public accountants of the Company; and (vi) reasonable fees and expenses
of one (1) legal counsel selected by Holders representing a majority-in-interest of the Registrable Securities participating
in any such Secondary Offering not to exceed $75,000 per Secondary Offering, but shall not include any incremental selling expenses
relating to the sale of Registrable Securities, such as underwriters’ commissions and discounts, brokerage fees, underwriter
marketing costs and, other than as set forth in clause (vi) of this paragraph 7, the fees and expenses of any legal counsel
representing the Holders; and provided that the Company shall only be responsible for expenses under clause (vi) with respect
to two Secondary Offerings in any consecutive three-hundred sixty-five (365) day-period.

 

8.            The
Company may suspend the use of a prospectus included in the Resale Shelf by furnishing to the Holders a written notice (“Suspension
Notice”) stating that in the good faith judgment of the Company, it would be either (i) prohibited by the Company’s
insider trading policy (as if the Holders were covered by such policy) or (ii) materially detrimental to the Company and its
shareholders for such prospectus to be used at such time. The Company’s right to suspend the use of such prospectus under
clause (ii) of the preceding sentence may be exercised for a period of not more than ninety (90) days after the date of such
notice to the Holders; provided such period may be extended for an additional thirty (30) days with the consent of Holders representing
a majority-in-interest of the Registrable Securities, which consent shall not be unreasonably withheld; provided further, that
such right to suspend the use of a prospectus shall be exercised by the Company not more than once in any twelve (12) month period.
The Holders shall not effect any sales of Registrable Securities pursuant to the Resale Shelf at any time after they have received
a Suspension Notice from the Company and prior to receipt of an End of Suspension Notice (as defined below). The Holders may recommence
effecting sales of the Registrable Securities pursuant to the Resale Shelf following further written notice to such effect (an
 “End of Suspension Notice”) from the Company to the Holders. The Company shall act in good faith to permit any
suspension period contemplated by this paragraph 8 to be concluded as promptly as reasonably practicable.

 

9.            The
Holders agree that, except as required by applicable law, the Holders shall treat as confidential the receipt of any Suspension
Notice (provided that in no event shall such notice contain any material nonpublic information of the Company) hereunder and shall
not disclose or use the information contained in such Suspension Notice without the prior written consent of the Company until
such time as the information contained therein is or becomes public, other than as a result of disclosure by a Holder of Registrable
Securities in breach of the terms of this Agreement.

 

    A-2 

     

    

 

10.            The
Company shall indemnify and hold harmless the Holders, their respective directors and officers, partners, members, managers, employees,
agents, and representatives and each person, if any, who controls a Holder within the meaning of the Securities Act and the Exchange
Act and any agent thereof (collectively, “Indemnified Persons”), to the fullest extent permitted by applicable
law, from and against any losses, claims, damages, liabilities, joint or several, costs (including reasonable costs of preparation
and reasonable attorneys’ fees) and expenses, judgments, fines, penalties, interest, settlements or other amounts arising
from any and all claims, demands, actions, suits or proceedings, whether civil, criminal, administrative or investigative, in which
any Indemnified Person may be involved, or is threatened to be involved, as a party or otherwise, under the Securities Act or otherwise
(collectively, “Losses”), promptly as incurred, arising out of, based upon or resulting from any untrue statement
or alleged untrue statement of any material fact contained in the Resale Shelf (or any amendment or supplement thereto), the related
prospectus, or any amendment or supplement thereto, or arise out of, are based upon or resulting from the omission or alleged omission
to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
in which they were made, not misleading; provided, however, that the Company shall not be liable in any such case or to any Indemnified
Person to the extent that any such Loss arises out of, is based upon or results from an untrue statement or alleged untrue statement
or omission or alleged omission or so made in reliance upon or in conformity with information furnished by or on behalf of such
Indemnified Person in writing specifically for use in the preparation of the Resale Shelf, the related prospectus, or any amendment
or supplement thereto. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf
of such Indemnified Person, and shall survive the transfer of such securities by the Purchaser.

 

11.            The
Company’s obligation under paragraph 1 of this Exhibit A is subject to each Holder’s furnishing to the Company
in writing such information as the Company reasonably requests for use in connection with the Resale Shelf, the related prospectus,
or any amendment or supplement thereto. Each Holder shall indemnify the Company, its officers, directors, managers, employees,
agents and representatives, and each person who controls the Company (within the meaning of the Securities Act) against any losses,
claims, damages, liabilities and expenses resulting from any untrue statement or alleged untrue statement of material fact contained
in the Resale Shelf, the related prospectus, or any amendment or supplement thereto or any omission or alleged omission of a material
fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such
untrue statement or omission is contained in any information so furnished in writing by such Holder expressly for inclusion in
such Resale Shelf, related prospectus or amendment or supplement thereto, as applicable; provided that the obligation to indemnify
shall be individual, not joint and several, and shall be limited to the net amount of proceeds received by the applicable Holder
from the sale of Registrable Securities pursuant to the Resale Shelf.

 

12.            The
Company shall cooperate with the Holders, to the extent the Registrable Securities become freely tradable, to facilitate the timely
preparation and delivery of certificates (not bearing any restrictive legend) representing the Registrable Securities to be offered
pursuant to a Resale Shelf and enable such certificates to be in such denominations or amounts, as the case may be, as the Holders
may reasonably request and registered in such names as each Holder may request.

 

13.            If
requested by Holders representing a majority-in-interest of the Registrable Securities, the Company shall as soon as practicable,
subject to any Suspension Notice, (i) incorporate in a prospectus supplement or post-effective amendment such information
as each Holder reasonably requests to be included therein relating to the sale and distribution of Registrable Securities, including,
without limitation, information with respect to the number of Registrable Securities being offered or sold, the purchase price
being paid therefor and any other terms of the offering of the Registrable Securities to be sold in such offering; (ii) make
all required filings of such prospectus supplement or post-effective amendment after being notified of the matters to be incorporated
in such prospectus supplement or post-effective amendment; and (iii) supplement or make amendments to any Registration Statement
if reasonably requested by Holders representing a majority-in-interest of the Registrable Securities.

 

14.            As
long as Registrable Securities are outstanding, the Company, at all times while it shall be reporting under the Exchange Act, covenants
to file timely (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be
filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act, and to promptly furnish
the Holders with true and complete copies of all such filings, unless filed through the SEC’s EDGAR system. The Company further
covenants that it shall take such further action as the Holders may reasonably request, all to the extent required from time to
time, to enable the Holders to sell the Class A Shares and Warrants held by the Holders without registration under the Securities
Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act, including providing
any legal opinions, to the extent such exemption is available to the Purchaser at such time. Upon the request of any Holder, the
Company shall deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such
requirements.

 

    A-3pei-ex1011_90.htm

Exhibit 10.11

SECOND AMENDMENT TO 
RESTRUCTURING SUPPORT AGREEMENT

This amendment, dated as of October 23, 2020 (as may be amended, supplemented, amended and restated or otherwise modified from time to time in accordance with the terms hereof, this “Second Amendment”) to that certain Restructuring Support Agreement dated as of October 7, 2020 (together with all exhibits, schedules and attachments thereto, and as may be further amended, supplemented, amended and restated or otherwise modified from time to time in accordance with the terms thereof, the “Restructuring Support Agreement”), is entered into by and among (i) the Company Parties, (ii) the Requisite Consenting Lenders and (iii) the Requisite Consenting Bridge Lenders.  Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Restructuring Support Agreement.

WHEREAS, on October 16, 2020, the Company Parties, the Requisite Consenting Lenders and the Requisite Consenting Bridge Lenders executed that certain Amendment  to Restructuring Support Agreement (the “First Amendment”);

 

WHEREAS, pursuant to Paragraph 2 of the First Amendment, in the event the Plan Transactions are pursued, the Company Parties agreed to commence the Chapter 11 Cases on or before October 18, 2020; and

 

WHEREAS, on October 19, 2020, certain Consenting Lenders transmitted a Notice of Default; Reservation of Rights letter to the Company, alleging that the Company Parties’ failure to commence the Chapter 11 Cases breached the obligations under the Restructuring Support Agreement (the “Alleged RSA Breach”);

 

WHEREAS, the Company Parties dispute that any such RSA Breach has occurred;

 

WHEREAS, the Parties have agreed to enter into a limited tolling of the Alleged RSA Breach pursuant to which each of the Requisite Consenting Lenders and Requisite Consenting Bridge Lenders shall not exercise remedies relating to the Alleged RSA Breach, to the extent valid, subject to the conditions contained herein; it being understood that, except as provided in this Second Amendment, all rights and defenses of the Requisite Consenting Lenders, the Requisite Consenting Bridge Lenders and the Company Parties are preserved; and 

 

WHEREAS, pursuant to Section 9 of the Restructuring Support Agreement, except as otherwise expressly provided for therein, the Restructuring Support Agreement may be modified, amended, or supplemented in a writing signed by the Company Parties, the Requisite Consenting Lenders and the Requisite Consenting Bridge Lenders; and 

WHEREAS, on October 23, 2020, in accordance with the terms and conditions of Section 9 of the Restructuring Support Agreement, the Company Parties, the Requisite Consenting Lenders and the Requisite Consenting Bridge Lenders agreed to amend the Restructuring Support Agreement as set forth herein;

NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and 

 

 

sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

1. Amendments to the Restructuring Support Agreement. Subject to (i) all Consenting Lenders becoming party to this Second Amendment, and (ii) each of Strategic Value Dislocation Master Fund LP, Strategic Value Master Fund, Ltd., Strategic Value Special Situations Master Fund IV, L.P. executing a Joinder Agreement to the Restructuring Support Agreement: 

(a)The section entitled “Extension Option” on page 6 of the Out-of-Court Restructuring Term Sheet annexed as Exhibit A to the Restructuring Support Agreement shall hereby be amended and restated in its entirety to read as follows: 

		
	
Extension Option:
	
One one-year extension at Borrowers’ option, subject to (i) minimum liquidity of $35,000,000, (ii) minimum Corporate Debt Yield of 8.0%, and (iii) maximum LTV of 105% for Borrowing Base Properties to the drawn Facilities (Senior Facility and Second Lien Term Loan Facility), as determined by an appraisal.

 

(b)The section entitled “Financial Covenants” on page 8-9 of the Out-of-Court Restructuring Term Sheet annexed as Exhibit A to the Restructuring Support Agreement shall hereby be amended and restated in its entirety to read as follows: 

		

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Financial Covenants:
	
•  Minimum liquidity of $25,000,000, which liquidity amount shall not include any portion of the Remargin Subfacility.

•  Anti-cash hoarding of $40,000,000

•  Cash Trap at 8.50% Senior Debt Yield (based on NOI (excluding tenant improvement costs and leasing commissions) of properties included in the Collateral / Senior Facilities) (which, for the purposes of the financial covenants, shall include only drawn commitments under the Revolving Facility and outstanding amounts under the Senior Term Loan Facility), starting in Q2 2021, with an annualization ramp (i.e., starting with 1 quarter annualized, then 2 quarters annualized, then 3 quarters annualized, and finally a trailing 12 month test).

•  Minimum Senior Debt Yield test 8.0% (based on NOI (excluding tenant improvement costs and leasing commissions) of properties included in the Collateral / 

Senior Facilities) starting in Q2 2021 with an annualization ramp up as set forth above.

•  Minimum Corporate Debt Yield of 6.50% (based on total proportional NOI/total proportional debt) in Q2/Q3 2021, and 7.25% in Q4 2021 and onwards, with an annualization ramp-up as set forth above.

 

2. Tolling. Notwithstanding anything to the contrary contained in the Restructuring Support Agreement, in the event the Plan Transactions are pursued, the Company Parties shall be required to commence the Chapter 11 Cases on or before October 28, 2020; it being understood that a “Lender Termination Event” occurring as a result of the Alleged RSA Breach, if any, shall be tolled from October 22, 2020 until October 28, 2020.   

3. Agreement to be Bound.  Each of the Parties hereby agrees to be bound by all of the terms of the Restructuring Support Agreement not inconsistent with the terms hereof.

4. Representation and Warranties.  The Company Parties each hereby represent and warrant to the Consenting Lenders that as of the Effective Date (as defined below) (a) there exists no Lender Termination Event or Company Termination Event under Section 5(b) or 5(c) of the Restructuring Support Agreement other than the Alleged RSA Breach and (b) neither the execution, delivery or performance by the Company of this Second Amendment, nor compliance by it with the terms and provisions hereof (i) will contravene in any material respect with any provision of any law, statute, rule or regulation or any order, writ, injunction or decree of any court of government authority or (ii) will violate any provision of the certificate of articles of incorporation, certificate or formation, limited liability company agreement or by-laws (or equivalent constitutional, organizational and/or formation documents), as applicable, of any Company Party. 

5.   Effective Date. This Second Amendment shall not become effective until the date of satisfaction of the following conditions (the “Effective Date”):

(a)The Company Parties and the Consenting Lenders constituting Requisite Consenting Lenders and Requisite Consenting Bridge Lenders have duly executed counterparts to this Second Amendment.

(b)All representations and warranties of the Company Parties contained herein shall be true and correct as of the Effective Date. 

6.  Reservation of Rights.  The tolling set forth in Section 2 shall be limited precisely as written and relate solely to the Alleged RSA Breach and nothing in this Second Amendment shall be deemed to prejudice any right or remedy that the Consenting Lenders, the Agent, or the Company Parties may now have (except to the extent of the express provision set forth herein) or may have in the future under or in connection with the Restructuring Support Agreement or any instrument or agreement referred to therein. Upon termination of this Second Amendment, the Consenting Lenders, the Agent and the Company Parties (as applicable) shall be entitled to 

3

 

 

 

immediately take any and all actions and remedies under the Restructuring Support Agreement and applicable law in respect of any Lender Termination Events or Company Termination Events (as applicable) then existing. 

7. Miscellaneous.

(a)Except as expressly provided herein, this Second Amendment shall not, by implication or otherwise, alter, modify, amend or in any way affect any of the obligations, covenants or rights contained in the Restructuring Support Agreement, all of which are ratified and confirmed in all respects by the Parties and shall continue in full force and effect.

(b)THIS SECOND AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY CONFLICTS OF LAW PROVISIONS WHICH WOULD REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER JURISDICTION (EXCEPT TO THE EXTENT IT MAY BE PREEMPTED BY THE BANKRUPTCY CODE).

(c)This Second Amendment, together with the Restructuring Support Agreement, the First Amendment and all exhibits thereto, constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes all prior agreements and understandings among the Parties with respect to such subject matter.  Each reference to the Restructuring Support Agreement hereafter made in any document, agreement, instrument, filing, pleading, notice or communication shall mean and be a reference to the Restructuring Support Agreement as amended and modified by the First Amendment and hereby hereby.

(d)In the event the terms and conditions as set forth in the Restructuring Support Agreement and this Second Amendment are inconsistent, the terms and conditions of this Second Amendment shall control.

(e)This Second Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which shall constitute the same instrument.  Delivery of a copy of this Second Amendment bearing an original signature by electronic transmission shall have the same effect as physical delivery of the paper document bearing the original signature.

(f)If any term, condition or other provision of this Second Amendment is invalid, illegal or incapable of being enforced by any rule of law or public policy, all other terms, conditions and provisions of this Second Amendment shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in a manner adverse to any Party.  Upon such determination that any term, condition or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Second Amendment so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the fullest extent possible.

[Remainder of Page Intentionally Left Blank]

 

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IN WITNESS WHEREOF, the Parties hereto have caused this Second Amendment to be executed and delivered by their respective duly authorized officers, solely in their respective capacity as officers of the undersigned and not in any other capacity, as of the date first set forth above.

 

“COMPANY PARTIES”

 

PREIT Associates, L.P.

 

By:Pennsylvania Real Estate Investment Trust,

its general partner

 

 

 

By:/s/ Andrew Ioannou

Name:Name:Andrew Ioannou

Title:Executive Vice President, Finance & Acquisitions

and Treasurer

 

 

PREIT-RUBIN, INC.

 

 

 

By:/s/ Andrew Ioannou

Name:Name:Andrew Ioannou

Title:Executive Vice President, Finance & Acquisitions and 

Treasurer

 

 

PENNSYLVANIA REAL ESTATE INVESTMENT TRUST

 

 

 

By:/s/ Andrew Ioannou

Name:Name:Andrew Ioannou

Title:Executive Vice President, Finance & Acquisitions and 

Treasurer

 

[Signatures Continue on Following Page]

 

 

Signature Page to Restructuring Support Agreement

 

 

PR CHERRY HILL OFFICE GP, LLC

By:PREIT Associates, L.P., sole member

BALA CYNWYD ASSOCIATES, L.P.

By:PR Cherry Hill Office GP, LLC, general partner

By:PREIT Associates, L.P., sole member

PR MOORESTOWN ANCHOR-M, LLC

By:PREIT Associates, L.P., sole member

PR MOORESTOWN LLC

By:PREIT Associates, L.P., sole member

PR Moorestown Limited Partnership

By:PR Moorestown LLC, general partner 

By:PREIT Associates, L.P., sole member

MOORESTOWN MALL LLC

By:PR Moorestown Limited Partnership, sole member

By: PR Moorestown LLC, general partner

By:PREIT Associates, L.P., sole member

PLYMOUTH GROUND ASSOCIATES LLC

By:PREIT Associates, L.P., sole member

PLYMOUTH GROUND ASSOCIATES LP

By:Plymouth Ground Associates LLC, general partner

By:PREIT Associates, L.P., sole member

PR AEKI PLYMOUTH LLC

By:PREIT Associates, L.P., sole member

PR AEKI PLYMOUTH, L.P.

By:PR AEKI Plymouth LLC, general partner

By:PREIT Associates, L.P., sole member

PR BVM, LLC

By:PREIT Associates, L.P., sole member

PR CUMBERLAND OUTPARCEL LLC

By:PREIT Associates, L.P., sole member

PR VALLEY VIEW OP-DSG/CEC, LLC

By:PREIT Associates, L.P., sole member

PR MOORESTOWN ANCHOR-L&T, LLC

By:PREIT Associates, L.P., sole member

 

By:Pennsylvania Real Estate Investment Trust, general partner

 

 

 

By:/s/ Andrew Ioannou

Name:Andrew Ioannou

Title:Executive Vice President, Finance & Acquisitions

and Treasurer

 

[Signatures Continued on Next Page]

 

Signature Page to Restructuring Support Agreement

 

 

 

PR EXTON LLC

By:PREIT Associates, L.P., sole member

PR EXTON LIMITED PARTNERSHIP

By:PR Exton LLC, general partner

By:PREIT Associates, L.P., sole member

PR EXTON OUTPARCEL GP, LLC

By:PREIT Associates, L.P., sole member

PR EXTON OUTPARCEL HOLDINGS, LP

By:PR Exton Outparcel GP, LLC, general partner

By:PREIT Associates, L.P., sole member

PR EXTON OUTPARCEL LIMITED PARTNERSHIP

By:PR Exton Outparcel GP, LLC, general partner

By:PREIT Associates, L.P., sole member

XGP LLC

By:PR Exton Limited Partnership, sole member

By:PR Exton LLC, general partner

By:PREIT Associates, L.P., sole member

PR EXTON SQUARE PROPERTY L.P.

By:XGP LLC, general partner

By:PR Exton Limited Partnership, sole member

By:PR Exton LLC, general partner

By:PREIT Associates, L.P., sole member

PR FIN DELAWARE, LLC

By:PREIT Associates, L.P., sole member

PR FINANCING II LLC

By:PREIT Associates, L.P., sole member

PR FINANCING I LLC

By:PREIT Associates, L.P., member and

By:PR Financing II LLC, member

By: PREIT Associates, L.P., sole member

PR FINANCING LIMITED PARTNERSHIP, 

By:PR Financing I LLC, general partner

By:PREIT Associates, L.P., member and

By:PR Financing II, LLC, member

By:PREIT Associates, L.P., sole member

 

By:Pennsylvania Real Estate Investment Trust, general partner

 

 

 

By:/s/ Andrew Ioannou

Name:Andrew Ioannou

Title:Executive Vice President, Finance & Acquisitions and Treasurer

 

[Signatures Continued on Next Page]

 

 

 

 

PR GAINESVILLE LLC

By:PREIT Associates, L.P., sole member

PR GAINESVILLE LIMITED PARTNERSHIP

By:  PR Gainesville LLC, general partner

By:PREIT Associates, L.P., sole member

PR GV LLC

By:PREIT Associates, L.P., sole member

PR GV LP

By:PR GV LLC, general partner

By:PREIT Associates, L.P., sole member

PR PRINCE GEORGE’S PLAZA LCC

By:PREIT Associates, L.P., sole member

PR HYATTSVILLE LLC

By:PR Prince George’s Plaza LLC, general partner

By:PREIT Associates, L.P., sole member

PR JK LLC

By:PREIT Associates, L.P., sole member

PR JACKSONVILLE LLC

By:PREIT Associates, L.P. member and 

By:PR JK LLC, member

By: PREIT Associates, L.P., sole member

PR JACKSONVILLE LIMITED PARTNERSHIP

By:PR Jacksonville LLC, general partner

By:PREIT Associates, L.P., member and

By:PR JK LLC, member

By:PREIT Associates, sole member

PR MAGNOLIA LLC

By:PREIT Associates, L.P., sole member

PR VALLEY ANCHOR-S, LLC

By:PREIT Associates, L.P., sole member

PR WOODLAND ANCHOR-S, LLC

By:PREIT Services, LLC, manager

By:PREIT Associates, L.P., sole member

 

By:Pennsylvania Real Estate Investment Trust, general partner

 

 

 

By:/s/ Andrew Ioannou

Name:Andrew Ioannou

Title:Executive Vice President, Finance & Acquisitions

and Treasurer

 

[Signatures Continued on Next Page]

 

 

 

 

 

PR PLYMOUTH ANCHOR-M, LLC

By:PREIT Associates, L.P., sole member

PR PLYMOUTH ANCHOR-M, L.P.

By:PR Plymouth Anchor-M, LLC, general partner

By:PREIT Associates, L.P., sole member 

PR PM PC ASSOCIATES LLC

By:PREIT Services, LLC, non-member manager

By:PREIT Associates, L.P., sole member

PR PLYMOUTH MEETING ASSOCIATES PC LP

By:PR PM PC Associates LLC, general partner

By:PREIT Services, LLC, non-member manager

By:PREIT Associates, L.P., sole member

PR PLYMOUTH MEETING LLC

By:PREIT Associates, L.P., sole member

PR PLYMOUTH MEETING LIMITED PARTNERSHIP

By:PR Plymouth Meeting LLC, general partner

By:PREIT Associates, L.P., sole member

PR PM PC ASSOCIATES LP

By:PR PM PC Associates LLC, general partner

By:PREIT Services, LLC, non-member manager

By:PREIT Associates, L.P., sole member

 

By:Pennsylvania Real Estate Investment Trust, general partner

 

 

 

By:/s/ Andrew Ioannou

Name:Andrew Ioannou

Title:Executive Vice President, Finance & Acquisitions and Treasurer

 

 

[Signatures Continued on Next Page]

 

 

 

 

 

 

 

PR SPRINGFIELD TOWN CENTER LLC

By:PREIT Associates, L.P., sole member

PR SWEDES SQUARE LLC

By:PREIT Associates, L.P., sole member

PR TP LLC

By:PREIT Associates, L.P., sole member

PR TP LP

By:PR TP LLC, general partner

By:PREIT Associates, L.P., sole member

PR Valley Anchor-M, LLC

By:PREIT Associates, L.P., sole member

PR Valley Anchor-M Limited Partnership

By:PR Valley Anchor-M, LLC, general partner 

By:PREIT Associates, L.P., sole member

PR VALLEY LLC

By:PREIT Associates, L.P., sole member

PR VALLEY LIMITED PARTNERSHIP

By:PR Valley LLC, its general partner

By:PREIT Associates, L.P., sole member 

PR VALLEY VIEW ANCHOR-M, LLC

By:PREIT Associates, L.P., sole member

PR VALLEY VIEW ANCHOR-M LIMITED PARTNERSHIP 

By:PR Valley View Anchor-M, LLC, its general partner

By:PREIT Associates, L.P., sole member

 

By:Pennsylvania Real Estate Investment Trust, general partner

 

 

 

By:/s/ Andrew Ioannou

Name:Andrew Ioannou

Title:Executive Vice President, Finance & Acquisitions

and Treasurer

 

 

[Signatures Continued on Next Page]

 

 

 

 

 

PR MONROE OLD TRAIL, LLC

PR MONROE OLD TRAIL LIMITED PARTNERSHIP

By:  PR Monroe Old Trail, LLC, general partner

PR MONROE OLD TRAIL HOLDINGS, LLC

PR MONROE OLD TRAIL HOLDINGS, L.P.

By:  PR Monroe Old Trail Holdings, LLC, general partner

PR SUNRISE OUTPARCEL 2, LLC

PR VALLEY SOLAR LLC

 

By:  PREIT – RUBIN, Inc., sole member

 

 

 

By:/s/ Andrew Ioannou

Name:Andrew Ioannou

Title:Executive Vice President, Finance 

& Acquisitions and Treasurer

 

 

PREIT – RUBIN, INC.

PREIT – RUBIN OP, INC.

 

 

 

By:/s/ Andrew Ioannou

Name:Andrew Ioannou

Title:Executive Vice President, Finance & Acquisitions 

and Treasurer

 

[Signatures Continued on Next Page]

 

 

 

 

PR CAPITAL CITY LIMITED PARTNERSHIP

By:PR Capital City LLC, general partner

By:PREIT Associates, L.P., its member

By:PR CC II LLC, its member

By:PREIT Associates, L.P.,

its sole member

PR CC LIMITED PARTNERSHIP

By:PR CC I LLC, general partner

By:PREIT Associates, L.P., its member

By:PR CC II LLC, its member

By:PREIT Associates, L.P., 

its sole member

PR CAPITAL CITY LLC

By:PREIT Associates, L.P., its member

By:PR CC II LLC, its member

  By:PREIT Associates, L.P., its sole member

PR CC I LLC

By:PREIT Associates, L.P., its member

By:PR CC II LLC, its member

By:PREIT Associates, L.P., its sole member

PR CC II LLC

By:PREIT Associates, L.P., its sole member

 

 

By:Pennsylvania Real Estate Investment Trust, its general partner

 

 

 

By:/s/ Andrew Ioannou

Name:Andrew Ioannou

Title:Executive Vice President, Finance & Acquisitions

and Treasurer

 

 

 

 

 

 

 

 

 

CONSENTING LENDER

 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

 

 

 

By:/s/ Ryan Sansavera

Name:Ryan Sansavera

Title:Senior Vice President

 

 

Notice Address:

 

Wells Fargo Bank, National Association

10 South Wacker Drive, 32nd Floor

Chicago, IL 60606

Attention: Brandon Barry

Email: brandon.barry@wellsfargo.com

 

With a copy to:

 

Wells Fargo Bank, National Association

600 South 4th Street, 9th Floor

Minneapolis, MN 55415

MAC N9300-091

Attention: Anthony J. Gangelhoff

Email: anthony.gangelhoff@wellsfargo.com

 

 

 

 

CONSENTING LENDER

 

CITIZENS BANK, N.A.

 

 

 

By:/s/ Adrienne Bain

Name:Adrienne Bain

Title:Authorized Signer

 

 

Notice Address:

 

Citizens Bank, N.A.

1250 Congress Street, Suite 300

Charlotte, NC 28209

Attention: Adrienne Bain

Email: adrienne.bain@citizensbank.com

 

 

 

 

 

CONSENTING LENDER

 

MANUFACTURERS AND TRADERS TRUST COMPANY

 

 

 

By:/s/ Glenn L. Best

Name:Glenn L. Best

Title:Vice President

 

 

Notice Address:

 

1100 North Market Street

Wilmington, DE 19801

 

 

 

Attention: Glenn L. Best

Email: glbest@mtb.com

 

 

 

 

 

CONSENTING LENDER

 

MUFG UNION BANK, N.A.

 

 

 

By:/s/ Mark Menda

Name:Mark Menda

Title:Director

 

 

Notice Address: 50 Pointe Drive, Suite 200, Brea, CA 92821

 

 

 

 

Attention: 

Email: Mark.Menda@unionbank.com

 

 

 

 

 

CONSENTING LENDER

 

JPMORGAN CHASE BANK, N.A., (“JPMC”)

solely in respect of its Commercial Banking Corporate Client Banking & Specialized Industries unit (“CCBSI”) and not any other unit, group, division or affiliate of JPMC and solely in respect of CCBSI’s PREIT Loan Claims and any Swap Claim holdings. For the avoidance of doubt, and notwithstanding anything to the contrary contained in this Agreement, this Agreement shall not apply to JPMC (other than with respect to Claims arising from the PREIT Loan Claims and any Swap Claim held by CCBSI).

 

 

 

By:/s/ Dianne M. Stark

Name:Dianne M. Stark

Title:Authorized Officer

 

 

Notice Address: 

10 S. Dearborn, 37th Floor

Chicago, IL 60670

 

 

 

 

Attention: D. Stark

Email: diane.m.stark@chase.com 

 

 

 

 

 

CONSENTING LENDER

 

ASSOCIATED BANK, NATIONAL ASSOCIATION

 

 

By:/s/ Adam Harding

Name:Adam Harding

Title:Vice President

 

 

Notice Address:

 

Associated Bank

45 South 7th Street, Suite 2900

Minneapolis, MN 55402

 

Attention: Adam Harding

Email: adam.harding@associatedbank.com

 

 

 

 

 

CONSENTING LENDER

 

CITIBANK, N.A.

 

 

By:/s/ Christopher J. Albano

Name:Christopher J. Albano

Title:Authorized Signatory

 

 

Notice Address: 388 Greenwich St., 10th Floor, New York, NY 10013

 

 

 

 

Attention: Paul Giarratano

Email: paul.giarratano@citi.com

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