Document:

Exhibit 10.4

Exhibit 10.4

AMENDMENT NO. 7

to the

AMENDED AND RESTATED OPERATING AGREEMENT

of

AMERICAN PROCESSING COMPANY, LLC

THIS AMENDMENT NO. 7 (this “Amendment”) to that certain Amended and Restated Operating
Agreement, dated as of March 14, 2006, as amended by that certain Amendment No. 1 to the Amended
and Restated Operating Agreement, dated as of January 9, 2007, that certain Amendment No. 2 to the
Amended and Restated Operating Agreement, dated as of November 30, 2007, that certain Amendment No.
3 to the Amended and Restated Operating Agreement, dated as of February 28, 2008, that certain
Amendment No. 4 to the Amended and Restated Operating Agreement, dated as of August 15, 2008, that
certain Amendment No. 5 to the Amended and Restated Operating Agreement, dated as of July 1, 2009,
and that certain Amendment No. 6 to the Amended and Restated Operating Agreement, dated as of
December 1, 2009 (the “Operating Agreement”), of American Processing Company, LLC, a Michigan
limited liability company (the “Company”), is made and entered into to be effective for all
purposes as of January 4, 2010, by and among the Company, the Manager and the Member listed on the
signature pages hereto. Capitalized terms used but not otherwise defined herein shall have
meanings specified in the Operating Agreement.

RECITALS

A. Dolan APC, LLC (“Dolan”) and David A. Trott, Ellen Coon, Trustee of the Ellen Coon Living
Trust u/a/t 9/9/98, Marcy J. Ford, Trustee of the Marcy Ford Revocable Trust u/a/d 7/12/14, William
D. Meagher, Trustee of the William D. Meagher Trust u/a/d 8/24/07 and Jeanne M. Kivi, Trustee of
the Jeanne M. Kivi Trust u/a/t 8/24/07 (collectively, the “Selling Members”) are each parties to
certain Common Unit Purchase Agreements pursuant to which Dolan agreed to purchase an aggregate
104,905 Common Units from the Selling Parties on the terms and conditions set forth therein.

B. Pursuant to Section 10.4 of the Operating Agreement, the Manager and a
Supermajority-in-Interest of the Members have agreed to amend the terms of the Operating Agreement
to reflect the APCI Transfer and the admission of each of the assignees as a Substituted Member of
the Company.

AGREEMENT

1. AMENDMENTS

1.1 The definition of “Trott & Trott” in Article I of the Operating Agreement is deleted in
its entirety.

1.2 Exhibit A of the Operating Agreement is hereby replaced with Exhibit A
attached hereto.

2. REFERENCE TO AND EFFECT ON THE OPERATING AGREEMENT

2.1 Each reference in the Operating Agreement to “this Agreement”, “hereunder”, “hereof”,
“herein”, or words of like import shall mean and be a reference to the Operating Agreement as
amended hereby.

2.2 Except as specifically amended above, the Operating Agreement shall remain in full force
and effect and is hereby ratified and confirmed.

 

 

 

3. MISCELLANEOUS

3.1 This Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which taken together shall constitute one and the same instrument. In
accordance with the Operating Agreement, this Amendment shall be effective upon execution by the
Company, the Manager and a Supermajority-in-Interest of the Members. This Amendment, to the extent
signed and delivered by means of a facsimile machine or other electronic transmission (including
transmission in portable document format by electronic mail), shall be treated in all manner and
respects and for all purposes as an original agreement and shall be considered to have the same
binding legal effect as if it were the original signed version thereof delivered in person. At the
request of any party hereto, each other party hereto shall re-execute original forms hereof and
deliver them to all other parties, except that the failure of any party to comply with such a
request shall not render this Amendment invalid or unenforceable. No party hereto shall raise the
use of a facsimile machine or other electronic transmission to deliver a signature, or the fact
that any signature was transmitted or communicated through the use of a facsimile machine or other
electronic transmission, as a defense to the formation or enforceability of a contract and each
such party forever waives any such defense.

3.2 Section headings in this Amendment are included herein for convenience of reference only
and shall not constitute a part of this Amendment for any other purpose.

3.3 Each party shall do and perform, or cause to be done and performed, all such further acts
and things, and shall execute and deliver all such other agreements, certificates, instruments and
documents, as the other party may reasonably request in order to carry out the intent and
accomplish the purposes of this Amendment and the consummation of the transactions contemplated
hereby.

3.4 The language used in this Amendment will be deemed to be the language chosen by the
parties to express their mutual intent, and no rules of strict construction will be applied against
any party.

3.5 If and to the extent there are any inconsistencies between the Operating Agreement and
this Amendment, the terms of this Amendment shall control.

 

 

 

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written
above.

	 	 	 	 	 	 	 
	 	 	COMPANY:	 	 
	 
	 	 	 	 	 	 
	 	 	AMERICAN PROCESSING COMPANY, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 
	DOLAN APC LLC	 	 
	 

	 	 	Its: 
	Manager	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	/s/ Scott J. Pollei
 

	 	 
	 

	 	 	Name: 
	Scott J. Pollei	 	 
	 

	 	 	Its: 
	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	MANAGER:	 	 
	 
	 	 	 	 	 	 
	 	 	DOLAN APC LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	/s/ Scott J. Pollei
 

	 	 
	 

	 	 	Name: 
	Scott J. Pollei	 	 
	 

	 	 	Its: 
	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	MEMBERS:	 	 
	 
	 	 	 	 	 	 
	 	 	DOLAN APC LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	/s/ Scott J. Pollei
 

	 	 
	 

	 	 	Name: 
	Scott J. Pollei	 	 
	 

	 	 	Its: 
	Vice President	 	 

 

 

 

EXHIBIT A

List of Members, Capital Contributions, Capital Accounts

Common Units and Participating Percentages

As of January 4, 2010

	 	 	 	 	 	 	 	 	 
	Name, Address, Phone	 	 	 	 	 	 
	and Fax of Member	 	Common Units	 	 	Participating Percentage	 
	 
	 	 	 	 	 	 	 	 
	Dolan APC, LLC
	 	 	1,278,857	 	 	 	92.25	%
	c/o Dolan Media Company

222 South Ninth Street

Suite 2300

Minneapolis, Minnesota 55402

Phone: (612) 317-9425

Fax: (612) 317-9434

Attention: James P. Dolan
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Feiwell & Hannoy Professional Corporation
	 	 	23,560	 	 	 	1.70	%
	251 North Illinois Street, Suite 1700

Indianapolis, Indiana 46204

Phone: (317) 237-2727

Fax: (317) 237-2722

Attention: Douglas Hannoy and Michael Feiwell
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Jacqueline M. Barrett
	 	 	34,609	 	 	 	2.50	%
	5941 Club Oaks Drive

Dallas, Texas 75248

Phone: (972) 341-0512

Fax: (972) 341-0601
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Robert F. Frappier
	 	 	14,899	 	 	 	1.07	%
	1735 North Blvd.

Houston, Texas 77098

Phone: (713) 693-2002

Fax: (713) 621-2179
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	James C. Frappier and Judith A. Frappier, JTWROS
	 	 	5,714	 	 	 	0.41	%
	4308 Mossey Oak Court

Flower Mound, Texas 75022

Phone: (214) 668-0303

Fax: (972) 341-5024
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Mary A. Daffin and Maynard Samuel Daffin, Sr.,
	 	 	14,899	 	 	 	1.07	%
	Tenants in Common

11750 Gallant Ridge Lane

Houston, Texas 77082

Phone: (281) 596-8733

Fax: (281) 596-8462
	 	 	 	 	 	 	 	 

 

 

 

	 	 	 	 	 	 	 	 	 
	Name, Address, Phone	 	 	 	 	 	 
	and Fax of Member	 	Common Units	 	 	Participating Percentage	 
	 
	 	 	 	 	 	 	 	 
	Barry Tiedt and Terri Tiedt, JTWROS
	 	 	5,714	 	 	 	0.41	%
	921 Genoa Court

Argyle, Texas 76226

Phone: (972) 341-0572

Fax: (972) 341-0679
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Abbe L. Patton and Lisle D. Patton, JTWROS
	 	 	5,714	 	 	 	0.41	%
	6016 Pinnacle Cr.

Little Elm, Texas 75068

Phone: (972) 341-0506

Fax: (972) 341-0678
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Rebecca L. Howell
	 	 	601	 	 	 	0.04	%
	1916 Lincolnshire

Bedford, TX 76021

Phone: (972) 341-0596

Fax: (972) 341-0679
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Jill A. Helmers
	 	 	600	 	 	 	0.04	%
	5208 Saddle Drive

Flower Mound, TX 75028

Phone: (972) 341-0505

Fax: (972)341-0679
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Christine T. Pummill
	 	 	600	 	 	 	0.04	%
	249 Enclaves Court

Coppell, TX 75019

Phone: (972) 341-523104

Fax: (972)341-0679
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Brian S. Engel
	 	 	393	 	 	 	0.03	%
	P.O. Box 76

Driftwood, TX 78619

Phone: (512) 477-0008

Fax: (512) 477-1112
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Steve P. Turner and Marsha L. Turner, Tenants in
	 	 	394	 	 	 	0.03	%
	Common

10002 Brandywine Circle

Austin, TX 78750

Phone: (512) 477-0008

Fax: (512) 477-1112
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	TOTAL:
	 	 	1,386,554	 	 	 	100.000	%exv10w1

Exhibit 10.1

SECOND AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT

among

FIRST POTOMAC REALTY INVESTMENT LIMITED PARTNERSHIP

and

OTHER BORROWERS WHICH MAY BECOME PARTIES TO THIS AGREEMENT

and

KEYBANK NATIONAL ASSOCIATION,

and

OTHER LENDERS WHICH MAY BECOME PARTIES TO THIS AGREEMENT

and

KEYBANK NATIONAL ASSOCIATION,

AS ADMINISTRATIVE AGENT AND SWINGLINE LENDER

and

WELLS FARGO NATIONAL ASSOCIATION,

AS CO-SYNDICATION AGENT

and

BMO CAPITAL MARKETS,

AS CO-SYNDICATION AGENT

and

PNC BANK, NATIONAL ASSOCIATION,

AS DOCUMENTATION AGENT

with

KEYBANC CAPITAL MARKETS INC.

AS SOLE LEAD ARRANGER AND SOLE BOOK MANAGER

Dated as of December 29, 2009

 

 

	 	 	 	 	 	 	 	 	 
	§1.	 	DEFINITIONS AND RULES OF INTERPRETATION	 	 	2	 
	 

	 	§1.1
	 	Definitions
	 	 	2	 
	 

	 	§1.2
	 	Rules of Interpretation
	 	 	22	 
	 
	 	 	 	 	 	 	 	 
	§2.	 	THE REVOLVING CREDIT FACILITY	 	 	22	 
	 

	 	§2.1
	 	Commitment to Lend
	 	 	22	 
	 

	 	§2.2
	 	The Revolving Credit Notes
	 	 	23	 
	 

	 	§2.3
	 	Interest on Revolving Credit Loans; Fees
	 	 	24	 
	 

	 	§2.4
	 	Requests for Revolving Credit Loans
	 	 	25	 
	 

	 	§2.5
	 	Conversion Options
	 	 	27	 
	 

	 	§2.6
	 	Funds for Revolving Credit Loans
	 	 	28	 
	 

	 	§2.7
	 	Reduction of Commitment
	 	 	29	 
	 

	 	§2.8
	 	Increase in Total Commitment
	 	 	29	 
	 

	 	§2.9
	 	Extension of Revolving Credit Maturity Date
	 	 	30	 
	 

	 	§2.10
	 	Swingline Loans
	 	 	30	 
	 
	 	 	 	 	 	 	 	 
	§3.	 	REPAYMENT OF THE LOANS	 	 	33	 
	 

	 	§3.1
	 	Maturity
	 	 	33	 
	 

	 	§3.2
	 	Optional Repayments of Revolving Credit Loans
	 	 	34	 
	 

	 	§3.3
	 	Mandatory Repayment of Loans
	 	 	34	 
	 
	 	 	 	 	 	 	 	 
	§4.	 	CERTAIN GENERAL PROVISIONS	 	 	34	 
	 

	 	§4.1
	 	Funds for Payments
	 	 	34	 
	 

	 	§4.2
	 	Computations
	 	 	35	 
	 

	 	§4.3
	 	Inability to Determine Libor Rate
	 	 	35	 
	 

	 	§4.4
	 	Illegality
	 	 	36	 
	 

	 	§4.5
	 	Additional Costs, Etc.
	 	 	36	 
	 

	 	§4.6
	 	Capital Adequacy
	 	 	37	 
	 

	 	§4.7
	 	Certificate; Limitations
	 	 	38	 
	 

	 	§4.8
	 	Indemnity
	 	 	38	 
	 

	 	§4.9
	 	Interest on Overdue Amounts; Late Charge
	 	 	38	 
	 
	 	 	 	 	 	 	 	 
	§5.	 	LETTERS OF CREDIT	 	 	39	 
	 

	 	§5.1
	 	Letter of Credit Commitments
	 	 	39	 
	 

	 	§5.2
	 	Reimbursement Obligation of the Borrower
	 	 	41	 
	 

	 	§5.3
	 	Letter of Credit Payments; Funding of a Loan
	 	 	41	 
	 

	 	§5.4
	 	Obligations Absolute
	 	 	42	 
	 

	 	§5.5
	 	Reliance by Issuer
	 	 	44	 
	 

	 	§5.6
	 	Outstanding Letters of Credit
	 	 	44	 
	 
	 	 	 	 	 	 	 	 
	§6.	 	RECOURSE OBLIGATIONS	 	 	44	 
	 
	 	 	 	 	 	 	 	 
	§7.	 	REPRESENTATIONS AND WARRANTIES	 	 	44	 
	 

	 	§7.1
	 	Authority, Etc.
	 	 	44	 
	 

	 	§7.2
	 	Governmental Approvals
	 	 	47	 
	 

	 	§7.3
	 	Title to Properties; Leases
	 	 	47	 
	 

	 	§7.4
	 	Financial Statements
	 	 	48	 
	 

	 	§7.5
	 	No Material Changes, Etc.
	 	 	48	 
	 

	 	§7.6
	 	Franchises, Patents, Copyrights, Etc.
	 	 	48	 
	 

	 	§7.7
	 	Litigation
	 	 	49	 
	 

	 	§7.8
	 	No Materially Adverse Contracts, Etc.
	 	 	49	 
	 

	 	§7.9
	 	Compliance With Other Instruments, Laws, Etc.
	 	 	49	 

i

 

	 	 	 	 	 	 	 	 	 
	 

	 	§7.10
	 	Tax Status
	 	 	50	 
	 

	 	§7.11
	 	No Event of Default
	 	 	50	 
	 

	 	§7.12
	 	Investment Company Acts
	 	 	50	 
	 

	 	§7.13
	 	Name; Jurisdiction of Organization; Absence of UCC Financing Statements, Etc.	 	 	50	 
	 

	 	§7.14
	 	Absence of Liens
	 	 	50	 
	 

	 	§7.15
	 	Certain Transactions
	 	 	50	 
	 

	 	§7.16
	 	Employee Benefit Plans; Multiemployer Plans; Guaranteed Pension Plans
	 	 	51	 
	 

	 	§7.17
	 	Regulations U and X
	 	 	51	 
	 

	 	§7.18
	 	Environmental Compliance
	 	 	51	 
	 

	 	§7.19
	 	Subsidiaries
	 	 	53	 
	 

	 	§7.20
	 	Loan Documents
	 	 	53	 
	 

	 	§7.21
	 	REIT Status
	 	 	53	 
	 

	 	§7.22
	 	Anti-Terrorism Regulations
	 	 	53	 
	 
	 	 	 	 	 	 	 	 
	§8.	 	AFFIRMATIVE COVENANTS OF THE BORROWER AND THE TRUST.	 	 	54	 
	 

	 	§8.1
	 	Punctual Payment
	 	 	54	 
	 

	 	§8.2
	 	Maintenance of Office; Jurisdiction of Organization, Etc.
	 	 	54	 
	 

	 	§8.3
	 	Records and Accounts
	 	 	55	 
	 

	 	§8.4
	 	Financial Statements, Certificates and Information
	 	 	55	 
	 

	 	§8.5
	 	Notices
	 	 	57	 
	 

	 	§8.6
	 	Existence of Borrower; Maintenance of Properties
	 	 	59	 
	 

	 	§8.7
	 	Existence of the Trust; Maintenance of REIT Status of the Trust; Maintenance of Properties
	 	 	59	 
	 

	 	§8.8
	 	Insurance
	 	 	60	 
	 

	 	§8.9
	 	Taxes
	 	 	60	 
	 

	 	§8.10
	 	Inspection of Properties and Books
	 	 	61	 
	 

	 	§8.11
	 	Compliance with Laws, Contracts, Licenses, and Permits
	 	 	62	 
	 

	 	§8.12
	 	Use of Proceeds
	 	 	62	 
	 

	 	§8.13
	 	Additional Borrower; Solvency of Borrower; Removal of Borrower; Addition of Real Estate Asset to Unencumbered Pool
	 	 	63	 
	 

	 	§8.14
	 	Further Assurances
	 	 	64	 
	 

	 	§8.15
	 	Interest Rate Protection
	 	 	64	 
	 

	 	§8.16
	 	Environmental Indemnification
	 	 	64	 
	 

	 	§8.17
	 	Response Actions
	 	 	65	 
	 

	 	§8.18
	 	Environmental Assessments
	 	 	65	 
	 

	 	§8.19
	 	Employee Benefit Plans
	 	 	66	 
	 

	 	§8.20
	 	No Amendments to Certain Documents
	 	 	66	 
	 
	 	 	 	 	 	 	 	 
	§9.	 	CERTAIN NEGATIVE COVENANTS OF THE BORROWER AND THE TRUST	 	 	67	 
	 

	 	§9.1
	 	Restrictions on Indebtedness
	 	 	67	 
	 

	 	§9.2
	 	Restrictions on Liens, Etc.
	 	 	68	 
	 

	 	§9.3
	 	Restrictions on Investments
	 	 	70	 
	 

	 	§9.4
	 	Merger, Consolidation and Disposition of Assets; Assets of the Trust
	 	 	72	 
	 

	 	§9.5
	 	Compliance with Environmental Laws
	 	 	72	 
	 

	 	§9.6
	 	Distributions
	 	 	73	 
	 

	 	§9.7
	 	Government Regulation
	 	 	73	 

ii

 

	 	 	 	 	 	 	 	 	 
	§10.	 	FINANCIAL COVENANTS; COVENANTS REGARDING ELIGIBLE UNENCUMBERED PROPERTIES	 	 	73	 
	 

	 	§10.1
	 	Consolidated Total Leverage Ratio
	 	 	73	 
	 

	 	§10.2
	 	Consolidated Debt Yield
	 	 	74	 
	 

	 	§10.3
	 	Fixed Charge Coverage Ratio
	 	 	74	 
	 

	 	§10.4
	 	Net Worth
	 	 	74	 
	 

	 	§10.5
	 	Unencumbered Pool Leverage
	 	 	74	 
	 

	 	§10.6
	 	Unencumbered Pool Interest Coverage Ratio
	 	 	75	 
	 

	 	§10.7
	 	Occupancy
	 	 	75	 
	 
	 	 	 	 	 	 	 	 
	§11.	 	[Reserved.]	 	 	75	 
	 
	 	 	 	 	 	 	 	 
	§12.	 	CONDITIONS TO THE FIRST ADVANCE	 	 	75	 
	 

	 	§12.1
	 	Loan Documents
	 	 	75	 
	 

	 	§12.2
	 	Certified Copies of Organization Documents
	 	 	75	 
	 

	 	§12.3
	 	By-laws; Resolutions
	 	 	75	 
	 

	 	§12.4
	 	Incumbency Certificate; Authorized Signers
	 	 	76	 
	 

	 	§12.5
	 	Opinion of Counsel Concerning Organization and Loan Documents
	 	 	76	 
	 

	 	§12.6
	 	Guaranty
	 	 	76	 
	 

	 	§12.7
	 	Financial Analysis of Eligible Unencumbered Properties
	 	 	76	 
	 

	 	§12.8
	 	Inspection of Eligible Unencumbered Properties
	 	 	76	 
	 

	 	§12.9
	 	Certifications from Government Officials; UCC 11 Reports
	 	 	76	 
	 

	 	§12.10
	 	Proceedings and Documents
	 	 	76	 
	 

	 	§12.11
	 	Fees
	 	 	77	 
	 

	 	§12.12
	 	Closing Certificate
	 	 	77	 
	 

	 	§12.13
	 	Other Matters
	 	 	77	 
	 
	 	 	 	 	 	 	 	 
	§13.	 	CONDITIONS TO ALL BORROWINGS	 	 	77	 
	 

	 	§13.1
	 	Representations True; No Event of Default; Compliance Certificate
	 	 	77	 
	 

	 	§13.2
	 	No Legal Impediment
	 	 	78	 
	 

	 	§13.3
	 	Governmental Regulation
	 	 	78	 
	 

	 	§13.4
	 	Borrowing Documents
	 	 	78	 
	 

	 	§13.5
	 	[Reserved.]
	 	 	78	 
	 

	 	§13.6
	 	New Unencumbered Pool Property
	 	 	78	 
	 

	 	§13.7
	 	Continued Compliance
	 	 	78	 
	 
	 	 	 	 	 	 	 	 
	§14.	 	EVENTS OF DEFAULT; ACCELERATION; ETC.	 	 	78	 
	 

	 	§14.1
	 	Events of Default and Acceleration
	 	 	78	 
	 

	 	§14.2
	 	Termination of Commitments
	 	 	82	 
	 

	 	§14.3
	 	 Remedies
	 	 	82	 
	 
	 	 	 	 	 	 	 	 
	§15.	 	SECURITY INTEREST AND SET-OFF	 	 	83	 
	 

	 	§15.1
	 	Security Interest
	 	 	83	 
	 

	 	§15.2
	 	Set-Off and Debit
	 	 	83	 
	 

	 	§15.3
	 	Right to Freeze
	 	 	84	 
	 

	 	§15.4
	 	Additional Rights
	 	 	84	 
	 
	 	 	 	 	 	 	 	 
	§16.	 	THE AGENT	 	 	84	 
	 

	 	§16.1
	 	Authorization
	 	 	84	 
	 

	 	§16.2
	 	Employees and Agents
	 	 	85	 
	 

	 	§16.3
	 	No Liability
	 	 	85	 
	 

	 	§16.4
	 	No Representations
	 	 	85	 

iii

 

	 	 	 	 	 	 	 	 	 
	 

	 	§16.5
	 	Payments
	 	 	85	 
	 

	 	§16.6
	 	Holders of Notes
	 	 	87	 
	 

	 	§16.7
	 	Indemnity
	 	 	87	 
	 

	 	§16.8
	 	Agent as Lender
	 	 	87	 
	 

	 	§16.9
	 	Notification of Defaults and Events of Default
	 	 	87	 
	 

	 	§16.10
	 	Duties in Case of Enforcement
	 	 	87	 
	 

	 	§16.11
	 	Successor Agent
	 	 	88	 
	 

	 	§16.12
	 	Notices
	 	 	89	 
	 

	 	§16.13
	 	Other Agents
	 	 	89	 
	 
	 	 	 	 	 	 	 	 
	§17.	 	EXPENSES	 	 	90	 
	 
	 	 	 	 	 	 	 	 
	§18.	 	INDEMNIFICATION	 	 	90	 
	 
	 	 	 	 	 	 	 	 
	§19.	 	SURVIVAL OF COVENANTS, ETC.	 	 	91	 
	 
	 	 	 	 	 	 	 	 
	§20.	 	ASSIGNMENT; PARTICIPATIONS; ETC.	 	 	92	 
	 

	 	§20.1
	 	Conditions to Assignment by Lenders
	 	 	92	 
	 

	 	§20.2
	 	Certain Representations and Warranties; Limitations; Covenants
	 	 	93	 
	 

	 	§20.3
	 	Register
	 	 	93	 
	 

	 	§20.4
	 	New Notes
	 	 	94	 
	 

	 	§20.5
	 	Participations
	 	 	94	 
	 

	 	§20.6
	 	Pledge by Lender
	 	 	94	 
	 

	 	§20.7
	 	No Assignment by Borrower
	 	 	95	 
	 

	 	§20.8
	 	Disclosure
	 	 	95	 
	 

	 	§20.9
	 	Syndication
	 	 	95	 
	 
	 	 	 	 	 	 	 	 
	§21.	 	NOTICES, ETC.	 	 	95	 
	 
	 	 	 	 	 	 	 	 
	§22.	 	FPLP AS AGENT FOR THE BORROWER	 	 	99	 
	 
	 	 	 	 	 	 	 	 
	§23.	 	GOVERNING LAW; CONSENT TO JURISDICTION AND SERVICE	 	 	99	 
	 
	 	 	 	 	 	 	 	 
	§24.	 	HEADINGS	 	 	99	 
	 
	 	 	 	 	 	 	 	 
	§25.	 	COUNTERPARTS	 	 	99	 
	 
	 	 	 	 	 	 	 	 
	§26.	 	ENTIRE AGREEMENT, ETC.	 	 	99	 
	 
	 	 	 	 	 	 	 	 
	§27.	 	WAIVER OF JURY TRIAL AND CERTAIN DAMAGE CLAIMS	 	 	100	 
	 
	 	 	 	 	 	 	 	 
	§28.	 	CONSENTS, AMENDMENTS, WAIVERS, ETC.	 	 	100	 
	 
	 	 	 	 	 	 	 	 
	§29.	 	SEVERABILITY	 	 	102	 
	 
	 	 	 	 	 	 	 	 
	§30.	 	INTEREST RATE LIMITATION	 	 	102	 
	 
	 	 	 	 	 	 	 	 
	§31.	 	USA PATRIOT ACT NOTIFICATION	 	 	102	 

iv

 

Exhibits to Revolving Credit Agreement

	 	 	 
	Exhibit A
	 	Form of Revolving Credit Note
	 
	 	 
	Exhibit A-1
	 	Form of Swingline Note
	 
	 	 
	Exhibit B
	 	Form of Completed Loan Request
	 
	 	 
	Exhibit B-1
	 	Form of Availability Certificate
	 
	 	 
	Exhibit C
	 	Forms of Compliance Certificates
	 
	 	 
	Exhibit D
	 	Form of Assignment and Assumption
	 
	 	 
	Exhibit E
	 	Form of Joinder Agreement

v

 

Schedules to Revolving Credit Agreement

	 	 	 
	Schedule 1

	 	Borrowers
	 
	 	 
	Schedule 2

	 	Lender’s Commitments
	 
	 	 
	Schedule 5.6

	 	Existing Letters of Credit
	 
	 	 
	Schedule 7.1(b)

	 	Capitalization
	 
	 	 
	Schedule 7.3

	 	Partially-Owned Entities
	 
	 	 
	Schedule 7.7

	 	Litigation
	 
	 	 
	Schedule 7.13

	 	Legal Name; Jurisdiction
	 
	 	 
	Schedule 7.15

	 	Affiliate Transactions
	 
	 	 
	Schedule 7.16

	 	Employee Benefit Plans
	 
	 	 
	Schedule 7.19

	 	Subsidiaries
	 
	 	 
	Schedule 8.19

	 	Employee Benefit Plans
	 
	 	 
	Schedule 9.1(g)

	 	Contingent Liabilities

vi

 

SECOND AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT

     This SECOND AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT is made as of the 29th day of
December, 2009, by and among FIRST POTOMAC REALTY INVESTMENT LIMITED PARTNERSHIP, a Delaware
limited partnership (“FPLP”) and the Wholly-Owned Subsidiaries (defined below) which are listed on
Schedule 1 hereto (as such Schedule 1 may be (or may be deemed to be) amended from time to time
(FPLP and any such Wholly-Owned Subsidiary being hereinafter referred to collectively as the
“Borrower” unless referred to in their individual capacities), having their principal place of
business at 7600 Wisconsin Avenue, 11th Floor, Bethesda, Maryland 20814; KEYBANK NATIONAL
ASSOCIATION (“KeyBank”), having a principal place of business at 127 Public Square, Cleveland, Ohio
44114, WELLS FARGO NATIONAL ASSOCIATION, BANK OF MONTREAL and the other lending institutions which
are as of the date hereof or may become parties hereto pursuant to §20 (individually, a “Lender”
and collectively, the “Lenders”); KEYBANK, as administrative agent for itself and each other Lender
(the “Agent”), WELLS FARGO NATIONAL ASSOCIATION and BMO CAPITAL MARKETS, as Co-Syndication Agents
and PNC BANK, NATIONAL ASSOCIATION, as Documentation Agent; and KEYBANC CAPITAL MARKETS INC., as
Sole Lead Arranger and Sole Book Manager.

RECITALS

     A. The Borrower, certain of the Lenders (the “Original Lenders”) and KeyBank as Agent are
parties to that certain Amended and Restated Revolving Credit Agreement, dated as of April 26, 2006
(as amended and modified prior to the date hereof, the “Original Credit Agreement”), pursuant to
which the Original Lenders provided a revolving credit facility in favor of the Borrower.

     B. The Borrower has requested that Original Lenders amend and restate the Original Credit
Agreement to modify the Original Credit Agreement in certain respects, including to extend the
maturity date thereof, and subject to the terms and conditions hereof, the Lenders and the Agent
are willing to do so.

     C. The Borrower is primarily engaged in the business of owning, acquiring, developing,
renovating and operating office, industrial and so-called flex properties in the Mid-Atlantic
region of the United States.

     D. First Potomac Realty Trust, a Maryland real estate investment trust (the “Trust”), is the
sole general partner of FPLP, holds in excess of 80% of the partnership interests in FPLP as of the
date of this Agreement, and is qualified to elect REIT status for income tax purposes and will
continue to guaranty the obligations of the Borrower hereunder and under the other Loan Documents
(as defined below).

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     E. The Borrower and the Trust have requested, and the Lenders have agreed, to extend the
unsecured revolving credit facility for use by the Borrower pursuant to the terms and conditions
hereof.

     NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the
parties hereto agree to amend and restate the Original Credit Agreement in its entirety as set
forth below:

     §1. DEFINITIONS AND RULES OF INTERPRETATION.

     §1.1 Definitions. The following terms shall have the meanings set forth in this §1 or elsewhere in the
provisions of this Agreement referred to below:

     AAP Qualification. See §7.6.

     Accountants. In each case, independent certified public accountants reasonably
acceptable to the Majority Lenders. The Lenders hereby acknowledge that the Accountants may
include KPMG LLP and any other so-called “big-four” accounting firm.

     Accounts Payable. Accounts payable of the Borrower, the Trust and their respective
Subsidiaries, as determined in accordance with GAAP.

     Adjusted EBITDA. As at any date of determination, an amount equal to (i) Consolidated
EBITDA for the applicable period; minus (ii) the Capital Reserve on such date.

     Adjusted Net Operating Income. As at any date of determination, an amount equal to
(i) the Net Operating Income of the Unencumbered Pool for the applicable period; minus (ii) the
Unencumbered Pool Capital Reserve on such date.

     Affiliate. With reference to any Person, (i) any director, officer, general partner,
trustee or managing member (or the equivalent thereof) of that Person, (ii) any other Person
controlling, controlled by or under direct or indirect common control of that Person, (iii) any
other Person directly or indirectly holding 5% or more of any class of the capital stock or other
equity interests (including options, warrants, convertible securities and similar rights) of that
Person, (iv) any other Person 5% or more of any class of whose capital stock or other equity
interests (including options, warrants, convertible securities and similar rights) is held directly
or indirectly by that Person, and (v) any Person directly or indirectly controlling that Person,
whether through a management agreement, voting agreement, other contract or otherwise. In no event
shall the Agent or any Lender be deemed to be an Affiliate of the Borrower.

     Agent. See the preamble to this Agreement. The Agent shall include any successor
agent, as permitted by §16.

2

 

     Agent’s Head Office. The Agent’s office located at 127 Public Square, Cleveland, Ohio
44114, or at such other location as the Agent may designate from time to time, or the office of any
successor agent permitted under §16.

     Agreement. This Second Amended and Restated Revolving Credit Agreement, including the
Schedules and Exhibits hereto, as the same may be from time to time amended, restated, modified
and/or supplemented and in effect.

     Agreement of Limited Partnership of the Borrower. The Amended and Restated Agreement
of Limited Partnership of FPLP, dated September 15, 2003, as amended, among the Trust and the
limited partners named therein, as amended through the date hereof and as the same may be further
amended from time to time as permitted by §8.20.

     Anti-Terrorism Laws. Any laws relating to terrorism or money laundering, including
Executive Order No. 13224, the USA Patriot Act of 2001, 31 U.S.C. Section 5318, the laws comprising
or implementing the Bank Secrecy Act, and the laws administered by the United States Treasury
Department’s Office of Foreign Asset Control (as any of the foregoing laws may from time to time be
amended, renewed, extended, or replaced).

     Applicable Base Rate Margin. The Applicable Base Rate Margin is set forth in §2.3(c).

     Applicable L/C Percentage. With respect to any Letter of Credit, a per annum
percentage equal to the Applicable Libor Margin in effect from time to time.

     Applicable Libor Margin. The Applicable Libor Margin is set forth in §2.3(c).

     Arranger. KeyBanc Capital Markets Inc.

     Assignment and Assumption. See §20.1.

     Availability. As of the date that any Loan is to be made or Letter of Credit is to be
issued hereunder or other applicable date of determination, an amount equal to the lesser of (i)
the Total Commitment and (ii) (x) the Value of Unencumbered Properties at such time (based upon the
most recent financial statements delivered to the Agent but after giving pro forma effect to the
acquisition and disposition of Eligible Unencumbered Properties after the date of such financial
statements) multiplied by the Unencumbered Pool Percentage as of the applicable date of
determination or (y) if less, the amount that would permit the Borrower to remain in compliance
with §10.5 after giving effect to the requested Loan or Letter of Credit. The amount available to
be drawn at any time shall be the Availability less the sum of the Maximum Drawing Amount and the
aggregate amount of all outstanding Loans (including Swingline Loans) at such time.

     Availability Certificate. A certificate, in the form of Exhibit B-1, evidencing, as
of the applicable date of determination, the amount available to be drawn by the Borrower, which
certificate shall include a calculation of Availability and evidence of compliance with §10.5 after
giving effect to any requested Loans or Letters of Credit.

3

 

     Base Rate. As at any applicable date of determination, the greater of (i) the
fluctuating annual rate of interest announced from time to time by the Agent at the Agent’s Head
Office as its “prime rate” and (ii) one half of one percent (0.50%) plus the Federal Funds
Effective Rate. The Base Rate is a reference rate and does not necessarily represent the lowest or
best rate being charged to any customer. Any change in the rate of interest payable hereunder
resulting from a change in the Base Rate shall become effective as of the opening of business on
the day on which such change in the Base Rate becomes effective, without notice or demand of any
kind.

     Base Rate Loan(s). Those Loans bearing interest calculated by reference to the Base
Rate.

     Borrower. See the preamble hereto.

     Building(s). Individually and collectively, the buildings, structures and
improvements now or hereafter located on the Real Estate Assets.

     Business Day. (i) For all purposes other than as covered by clause (ii) below, any
day other than a Saturday, Sunday or legal holiday on which banks in Cleveland, Ohio are open for
the conduct of a substantial part of their commercial banking business; and (ii) with respect to
all notices and determinations in connection with, and payments of principal and interest on, Libor
Rate Loans, any day that is a Business Day described in clause (i) and that is also a Libor
Business Day.

     Capital Expenditures. Any expenditure for any item that would be treated or defined
as a capital expenditure under GAAP.

     Capital Reserve. As at any date of determination, a capital reserve equal to the
weighted average of square feet of the Real Estate Assets during the applicable period,
multiplied by $0.15 per annum.

     Capitalization Rate. The Capitalization Rate shall be 8.50%.

     Capitalized Leases. Leases under which the Borrower or any of its Subsidiaries or any
Partially-Owned Entity is the lessee or obligor, the discounted future rental obligations under
which are required to be capitalized on the balance sheet of the lessee or obligor in accordance
with GAAP.

     Cash and Cash Equivalents. As of any date of determination, the sum of (a) the
aggregate amount of unrestricted cash then actually held by the Borrower or any of its
Subsidiaries, (b) the aggregate amount of unrestricted cash equivalents (valued at fair market
value) then held by the Borrower or any of its Subsidiaries and (c) the aggregate amount of cash
then actually held by the Borrower or any of its Subsidiaries in the form of tenant security
deposits, but only to the extent such tenant security deposits are included as a liability on the
Borrower’s Consolidated balance sheet, escrows and reserves. As used in this definition, (i)
“unrestricted” means the specified asset is not subject to any Liens in favor of any Person, and
(ii) “cash equivalents” means that such asset has a liquid, par value in cash and is convertible to
cash on demand.

4

 

Notwithstanding anything contained herein to the contrary, the term Cash and Cash Equivalents shall
not include the Commitments of the Lenders to make Loans or to make any other extension of credit
under this Agreement.

     CERCLA. See §7.18.

     Closing Date. December 29, 2009.

     Code. The Internal Revenue Code of 1986, as amended and in effect from time to time.

     Commitment. With respect to each Lender, the amount set forth from time to time on
Schedule 2 hereto as the amount of such Lender’s Commitment to make Revolving Credit Loans to, and
to participate in the issuance, extension and renewal of Letters of Credit for the account of, the
Borrower, as such Schedule 2 may be updated by the Agent from time to time.

     Commitment Percentage. With respect to each Lender, the percentage set forth on
Schedule 2 hereto as such Lender’s percentage of the Total Commitment, as such Schedule
2 may be updated by the Agent from time to time.

     Completed Loan Request. A loan request accompanied by all information required to be
supplied under the applicable provisions of §2.4.

     Consolidated or consolidated. With reference to any term defined herein, shall mean
that term as applied to the accounts of the Borrower, the Trust and their respective Subsidiaries,
consolidated in accordance with GAAP unless otherwise specifically provided herein.

     Consolidated Debt Yield. In relation to the Borrower, the Trust and their respective
Subsidiaries for any fiscal quarter, the percentage determined by dividing (i) Consolidated EBITDA
for the most recent fiscal quarter, annualized by (ii) Consolidated Total Indebtedness as of the
last day of such fiscal quarter.

     Consolidated EBITDA. In relation to the Borrower, the Trust and their respective
Subsidiaries for any applicable period, an amount equal to, without double-counting, the net income
or loss of the Borrower, the Trust and their respective Subsidiaries determined in accordance with
GAAP (before minority interests and excluding the adjustment for so-called “straight-line rent
accounting”) for such period, plus (x) the following to the extent deducted in computing
such Consolidated net income for such period: (i) Consolidated Total Interest Expense for such
period, (ii) losses attributable to the sale or other disposition of assets or debt restructurings
in such period, (iii) real estate depreciation and amortization for such period, and (iv) other
non-cash charges for such period; and minus (y) all gains attributable to the sale or other
disposition of assets or debt restructurings in such period, in each case adjusted to include the
Borrower’s, the Trust’s or any Subsidiary’s pro rata share of EBITDA (and the items
comprising EBITDA) from any Partially-Owned Entity in such period, based on its percentage
ownership interest in such Partially-Owned Entity (or such other amount to which the Borrower, the
Trust or such

5

 

Subsidiary is entitled or for which the Borrower, the Trust or such Subsidiary is obligated based
on an arm’s length agreement).

     Consolidated Fixed Charges. For any applicable period, an amount equal to the sum of
(i) Consolidated Total Interest Expense for such period plus (ii) the aggregate amount of
scheduled principal payments of Indebtedness (excluding balloon payments at maturity) required to
be made during such period by the Borrower, the Trust and their respective Subsidiaries on a
Consolidated basis plus (iii) the dividends and distributions, if any, paid or required to
be paid during such period on the Preferred Equity, if any, of the Borrower, the Trust and their
respective Subsidiaries (other than dividends paid in the form of capital stock), in each case
adjusted to include the Borrower’s, the Trust’s or any Subsidiary’s pro rata share
of the foregoing items of any Partially-Owned Entity in such period, based on its percentage
ownership interest in such Partially-Owned Entity (or such other amount for which the Borrower, the
Trust or such Subsidiary is obligated based on an arm’s length agreement).

     Consolidated Gross Asset Value. As of any date of determination, the sum of (i)(x)
the Net Operating Income of all of the Real Estate Assets (except as provided below) for the most
recent fiscal quarter, less the Management Fee Adjustment, with the sum thereof
multiplied by (y) 4; with the product thereof being divided by (z)
the Capitalization Rate; plus (ii) an amount equal to the Cost Basis Value of Real Estate
Assets Under Development on such date, plus (iii) the Cost Basis Value of Land on such
date, plus (iv) the Cost Basis Value of Mortgage Notes on such date, plus (v) the
value of Cash and Cash Equivalents on such date, as determined in accordance with GAAP and approved
by the Agent, provided that (i) Net Operating Income from Real Estate Assets acquired
during the applicable fiscal quarter and the immediately preceding fiscal quarter shall be
excluded, and such acquired Real Estate Assets shall be included at their Cost Basis Value, and
(ii) Net Operating Income from Real Estate Assets sold or otherwise transferred during the
applicable fiscal quarter shall be excluded, with Consolidated Gross Asset Value being adjusted to
include the Borrower’s, the Trust’s or any Subsidiary’s pro rata share of Net Operating Income (and
the items comprising Net Operating Income) from any Partially-Owned Entity in such period, based on
its percentage ownership interest in such Partially-Owned Entity (or such other amount to which the
Borrower, the Trust or such Subsidiary is entitled based on an arm’s length agreement).

     Consolidated Tangible Net Worth. As of any date of determination, an amount equal to
the Consolidated Gross Asset Value of the Borrower and its Subsidiaries at such date, minus
Consolidated Total Indebtedness outstanding on such date, provided that any amounts
attributable to Real Estate Assets that are required to be reported as “intangibles” under GAAP
pursuant to Financial Accounting Standards Board Statement of Policy No. 141 and 142 shall be
permitted to be added back to “tangible property” for purposes of calculating such Consolidated
Tangible Net Worth.

     Consolidated Total Indebtedness. As of any date of determination, Consolidated Total
Indebtedness means for the Borrower, the Trust and their respective Subsidiaries, all obligations,
contingent or otherwise, which should be classified on the obligor’s

6

 

balance sheet as liabilities, or to which reference should be made by footnotes thereto, all in
accordance with GAAP, including, in any event, the sum of (without double-counting), (i) all
Accounts Payable on such date, and (ii) all Indebtedness outstanding on such date, in each case
whether Recourse, Without Recourse or contingent, provided, however, that amounts
not drawn under the Revolving Credit Loans on such date shall not be included in calculating
Consolidated Total Indebtedness, and provided, further, that (without
double-counting), each of the following shall be included in Consolidated Total Indebtedness: (a)
all amounts of guarantees, indemnities for borrowed money, stop-loss agreements and the like
provided by the Borrower, the Trust and their respective Subsidiaries, in each case in connection
with and guarantying repayment of amounts outstanding under any other Indebtedness; (b) all amounts
for which a letter of credit (including the Letters of Credit) has been issued for the account of
the Borrower, the Trust or any of their respective Subsidiaries; (c) all amounts of bonds posted by
the Borrower, the Trust or any of their respective Subsidiaries guaranteeing performance or payment
obligations; (d) all lease obligations (including under Capital Leases, but excluding obligations
under ground leases); and (e) all liabilities of the Borrower, the Trust or any of their respective
Subsidiaries as partners, members or the like for liabilities (whether such liabilities are
Recourse, Without Recourse or contingent obligations of the applicable partnership or other Person)
of partnerships or other Persons in which any of them have an equity interest, which liabilities
are for borrowed money or any of the matters listed in clauses (a), (b), (c) or (d) above. Without
limitation of the foregoing (without double counting), with respect to any Partially-Owned Entity,
(x) to the extent that the Borrower, the Trust or any of their respective Subsidiaries or such
Partially-Owned Entity is providing a completion guaranty in connection with a construction loan
entered into by a Partially-Owned Entity, Consolidated Total Indebtedness shall include the
Borrower’s, the Trust’s or such Subsidiary’s pro rata liability under the
Indebtedness relating to such completion guaranty (or, if greater, the Borrower’s, the Trust’s or
such Subsidiary’s potential liability under such completion guaranty) and (y) in connection with
the liabilities described in clauses (a) and (d) above (other than completion guarantees, which are
referred to in clause (x)), the Consolidated Total Indebtedness shall include the portion of the
liabilities of such Partially-Owned Entity which are attributable to the Borrower’s, the Trust’s or
such Subsidiary’s percentage equity interest in such Partially-Owned Entity or such greater amount
of such liabilities for which the Borrower, the Trust or their respective Subsidiaries are, or
have agreed to be, liable by way of guaranty, indemnity for borrowed money, stop-loss agreement or
the like, it being agreed that, in any case, Indebtedness of a Partially-Owned Entity shall not be
excluded from Consolidated Total Indebtedness by virtue of the liability of such Partially-Owned
Entity being Without Recourse. For purposes hereof, the amount of borrowed money shall equal the
sum of (1) the amount of borrowed money as determined in accordance with GAAP plus (2) the
amount of those contingent liabilities for borrowed money set forth in subsections (a) through (e)
above, but shall exclude any adjustment for so called “straight line interest accounting”.

     Consolidated Total Interest Expense. For any applicable period, the aggregate amount
of interest required in accordance with GAAP to be paid, accrued, expensed or, to the extent it
could be a cash expense in the applicable period, capitalized, without double-counting, by the
Borrower, the Trust and their respective Subsidiaries during such

7

 

period on: (i) all Indebtedness of the Borrower, the Trust and their respective Subsidiaries
(including the Loans, obligations under Capital Leases (to the extent Consolidated EBITDA has not
been reduced by such Capital Lease obligations in the applicable period) and any Subordinated
Indebtedness and including original issue discount and amortization of prepaid interest, if any,
but excluding any Distribution on Preferred Equity), (ii) all amounts available for borrowing, or
for drawing under letters of credit (including the Letters of Credit), if any, issued for the
account of the Borrower, the Trust or any of their respective Subsidiaries, but only if such
interest was or is required to be reflected as an item of expense, and (iii) all commitment fees,
agency fees, facility fees, balance deficiency fees and similar fees and expenses in connection
with the borrowing of money, in each case adjusted to include the Borrower’s, the Trust’s or any
Subsidiary’s pro rata share of the foregoing items of any Partially-Owned Entity in
such period, based on its percentage ownership interest in such Partially-Owned Entity (or such
other amount for which the Borrower, the Trust or such Subsidiary is obligated based on an arm’s
length agreement).

     Conversion Request. A notice given by the Borrower to the Agent of its election to
convert or continue a Loan in accordance with §2.5.

     Cost Basis Value. The total contract purchase price of a Real Estate Asset plus all
commercially reasonable acquisition costs (including but not limited to title, legal and settlement
costs, but excluding financing costs) that are capitalized in accordance with GAAP.

     Default. When used with reference to this Agreement or any other Loan Document, an
event or condition specified in §14.1 that, but for the requirement that time elapse or notice be
given, or both, would constitute an Event of Default.

     Delinquent Lender. See §16.5(c).

     Disqualifying Environmental Event. Any Release or threatened Release of Hazardous
Substances, any violation of Environmental Laws or any other similar environmental event with
respect to any Eligible Unencumbered Property that could reasonably be expected to cost in excess
of $500,000 to remediate or, which, with respect to all of the Eligible Unencumbered Properties,
could reasonably be expected to cost in excess of $1,000,000 in the aggregate to remediate.

     Disqualifying Structural Event. Any structural issue which, with respect to any
Eligible Unencumbered Property, could reasonably be expected to cost in excess of $500,000 to
remediate or, which, with respect to all of the Eligible Unencumbered Properties, could reasonably
be expected to cost in excess of $1,000,000 in the aggregate to remediate.

     Distribution. With respect to:

     (i) a Borrower, any distribution of cash or other cash
equivalent, directly or indirectly, to the partners or other

8

 

equity holders of the Borrower; or any other distribution on or in
respect of any Equity Interests of the Borrower; and

     (ii) the Trust, the declaration or payment of any dividend on or
in respect of any shares of any class of capital stock or other
Equity Interests of the Trust, other than dividends payable solely in
shares of common stock by the Trust; the purchase, redemption, or
other retirement of any shares of any class of capital stock or other
Equity Interests of the Trust, directly or indirectly through a
Subsidiary of the Trust or otherwise; the return of capital by the
Trust to its shareholders as such; or any other distribution on or in
respect of any shares of any class of capital stock or other Equity
Interests of the Trust.

     Dollars or $. Lawful currency of the United States of America.

     Drawdown Date. The date on which any Revolving Credit Loan is made or is to be made,
and the date on which any Revolving Credit Loan is converted or continued in accordance with §2.5.

     Eligible Assignee. Any of (a) a commercial bank (or similar financial institution)
organized under the laws of the United States, or any State thereof or the District of Columbia,
and having total assets in excess of $500,000,000; (b) a savings and loan association or savings
bank organized under the laws of the United States, or any State thereof or the District of
Columbia, and having a net worth of at least $100,000,000, calculated in accordance with GAAP; and
(c) a commercial bank (or similar financial institution) organized under the laws of any other
country (including the central bank of such country) which is a member of the Organization for
Economic Cooperation and Development (the “OECD”), or a political subdivision of any such country,
and having total assets in excess of $500,000,000, provided that such bank (or similar
financial institution) is acting through a branch or agency located in the United States of
America; (d) a Lender, and (e) an Affiliate of a Lender, provided that such Affiliate would
otherwise meet the criteria set forth in clause (a), (b) or (c) above. In no event will the
Borrower or any Subsidiary or Affiliate of the Borrower be an Eligible Assignee.

     Eligible Unencumbered Property(ies). As of any date of determination, an Unencumbered
Asset that: (i) is a Permitted Property, (ii) is free and clear of any Lien, (iii) is not the
subject of a Disqualifying Environmental Event or a Disqualifying Structural Event, and (iv) is
wholly-owned in fee simple by the Borrower (or a wholly-owned Subsidiary of the Borrower that
becomes a Borrower hereunder simultaneously with such Unencumbered Asset becoming an Eligible
Unencumbered Property) (the foregoing clauses (i) through (iv) being herein referred to
collectively as the “Unencumbered Property Conditions”).

9

 

     Employee Benefit Plan. Any employee benefit plan within the meaning of §3(3) of ERISA
maintained or contributed to by the Borrower or any ERISA Affiliate, other than a Multiemployer
Plan.

     Environmental Laws. See §7.18(a).

     Environmental Reports. See §7.18

     Equity Interests. Any and all shares, partnership or member interests, participations
or other equivalents (however designated) of capital stock of a corporation and any and all
equivalent ownership interests in a Person which is not a corporation and any and all warrants,
options or other rights to purchase any of the foregoing.

     ERISA. The Employee Retirement Income Security Act of 1974, as amended and in effect
from time to time.

     ERISA Affiliate. Any Person which is treated as a single employer with the Borrower
under §414 of the Code.

     ERISA Reportable Event. A reportable event with respect to a Guaranteed Pension Plan
within the meaning of §4043 of ERISA and the regulations promulgated thereunder.

     Event of Default. See §14.1.

     Extension. See §2.9.

     Facility Fee. See §2.3(e).

     Federal Funds Effective Rate. For any day, a fluctuating interest rate per annum equal
to the weighted average of the rates on overnight federal funds transactions with members of the
Federal Reserve System arranged by federal funds brokers, as published for such day (or, if such
day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New
York, or, if such rate is not so published for any day that is a Business Day, the average of the
quotations for such day on such transactions received by the Agent from 3 federal funds brokers of
recognized standing selected by the Agent.

     Financial Statement Date. December 31, 2008.

     Fronting Bank. KeyBank.

     “funds from operations”. As defined in accordance with resolutions adopted by the
Board of Governors of the National Association of Real Estate Investment Trusts, as in effect at
the applicable date of determination.

     GAAP. Generally accepted accounting principles, consistently applied.

10

 

     Guaranteed Pension Plan. Any employee pension benefit plan within the meaning of
§3(2) of ERISA maintained or contributed to by the Borrower or the Trust, as the case may be, or
any ERISA Affiliate of any of them the benefits of which are guaranteed on termination in full or
in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan.

     Guaranty. The Guaranty, dated as of the date hereof, made by the Trust in favor of
the Agent and the Lenders pursuant to which the Trust guarantees to the Agent and the Lenders (or
any Affiliate of a Lender which provides a Protected Interest Rate Agreement to the Borrower in
connection with the Loans) the unconditional payment and performance of the Obligations, as the
same may be modified, amended, restated or reaffirmed from time to time.

     Hazardous Substances. See §7.18(b).

     Increase. See §2.8.

     Increase Conditions. The satisfaction of each and all of the following:

     (i) no Default or Event of Default shall have occurred and be
continuing (both before and after giving effect to the Increase) and
all representations and warranties contained in the Loan Documents
shall be true and correct as of the effective date of the Increase
(except to the extent that such representations and warranties relate
expressly to an earlier date);

     (ii) the Increase shall be extended on the same terms and
conditions applicable to the other Loans;

     (iii) to the extent any portion of the Increase is committed to
by a third party financial institution or institutions not already a
Lender hereunder, such financial institution shall be an Eligible
Assignee and approved by the Agent (such approval not to be
unreasonably withheld or delayed) and each such financial institution
shall have signed a counterpart signature page becoming a party to
this Agreement and a “Lender” hereunder;

     (iv) one or more of the existing Lenders or such other financial
institutions which may become parties hereto incident to the Increase
have committed in writing pursuant to the terms hereof to lend the
full aggregate amount of the Increase;

     (v) the Increase shall have been approved by the Agent; and

11

 

     (vi) the Borrower shall have delivered new Notes or amended and
restated Notes to the extent necessary to reflect each Lender’s
Commitment after giving effect to the Increase.

     Indebtedness. All obligations, contingent and otherwise, that in accordance with GAAP
should be classified upon the obligor’s balance sheet as liabilities, or to which reference should
be made by footnotes thereto, including in any event and whether or not so classified: (a) all debt
and similar monetary obligations, whether direct or indirect, including, without limitation, all
Obligations and all obligations under any hedge, swap or other interest rate protection
arrangement, any forward purchase contract or any put (it being agreed that for purposes of
determining the amount of the obligations under any such hedge, swap or other interest rate
protection arrangement, the Borrower shall mark-to-market such arrangements in accordance with GAAP
on a quarterly basis); (b) all liabilities secured by any Lien or other encumbrance existing on
property owned or acquired subject thereto, whether or not the liability secured thereby shall have
been assumed; (c) all reimbursement obligations under letters of credit (including the Letters of
Credit); and (d) all guarantees of borrowed money, endorsements and other contingent obligations,
whether direct or indirect, in respect of indebtedness or obligations of others, including any
obligation to supply funds (including partnership obligations and capital requirements) to or in
any manner to invest in, directly or indirectly, the debtor, to purchase indebtedness, or to assure
the owner of indebtedness against loss, through an agreement to purchase goods, supplies, or
services for the purpose of enabling the debtor to make payment of the indebtedness held by such
owner or otherwise.

     Interest Payment Date. As to any Base Rate Loan, the last day of every calendar month
in which such Loan is outstanding, and with respect to any Libor Rate Loan, the last day of the
applicable Interest Period. As to any Swingline Loan, the day such Swingline Loan is due.

     Interest Period. With respect to each Revolving Credit Loan, but without duplication
of any other Interest Period, (a) initially, the period commencing on the Drawdown Date of such
Loan and ending on the last day of one of the following periods (as selected by the Borrower in a
Completed Loan Request): (i) for any Base Rate Loan, the calendar month in which such Base Rate
Loan is made (whether by borrowing or by conversion from a Libor Rate Loan), and (ii) for any Libor
Rate Loan, 1, 2 or 3 months; and (b) thereafter, each period commencing at the end of the last day
of the immediately preceding Interest Period applicable to such Revolving Credit Loan and ending on
the last day of the applicable period set forth in (a)(i) and (ii) above (as selected by the
Borrower in a Conversion Request); provided that all of the foregoing provisions relating to
Interest Periods are subject to the following:

     (i) if any Interest Period with respect to a LIBOR Rate Loan
would otherwise end on a day that is not a LIBOR Business Day, such
Interest Period shall end on the next succeeding LIBOR Business Day,
unless such next succeeding LIBOR Business Day occurs in the next
calendar

12

 

month, in which case such Interest Period shall end on the next
preceding LIBOR Business Day, as determined conclusively by the Agent
in accordance with the then current bank practice in London;

     (ii) if the Borrower shall fail to give notice of conversion as
provided in §2.5, the Borrower shall be deemed to have requested a
conversion of the affected Libor Rate Loan to a Base Rate Loan on the
last day of the then current Interest Period with respect thereto;

     (iii) any Interest Period relating to any Libor Rate Loan that
begins on the last Business Day of a calendar month (or on a day for
which there is no numerically corresponding day in the calendar month
at the end of such Interest Period) shall, subject to subparagraph
(iv) below, end on the last Business Day of a calendar month; and

     (iv) no Interest Period may extend beyond the Maturity Date.

     Interest Rate Protection Arrangements. See §8.15

     Investments. All expenditures made and all liabilities incurred (contingently or
otherwise, but without double-counting): (i) for the acquisition of stock, partnership or other
equity interests or for the acquisition of Indebtedness of, or for loans, advances, capital
contributions or transfers of property to, any Person; (ii) in connection with Real Estate Assets
Under Development; and (iii) for the acquisition of any other obligations of any Person. In
determining the aggregate amount of Investments outstanding at any particular time: (a) there shall
be deducted in respect of each such Investment any amount received as a return of capital (but only
by repurchase, redemption, retirement, repayment, liquidating dividend or liquidating
distribution); (b) there shall not be deducted in respect of any Investment any amounts received as
earnings on such Investment, whether as dividends, interest or otherwise; and (c) there shall not
be deducted from the aggregate amount of Investments any decrease in the value thereof.

     ISP. With respect to any Letter of Credit, the “International Standby Practices 1998”
published by the Institute of International Banking Law & Practice (or such later version thereof
as may be in effect at the time of issuance).

     Joinder Documents. The one or more Joinder Agreements among the Agent (on behalf of
itself and the Lenders) and any Wholly-owned Subsidiary which is to become a Borrower at any time
after the Closing Date, the form of which is attached hereto as Exhibit E, together with
all other documents, instruments and certificates required by any such Joinder Agreement to be
delivered by such Wholly-owned Subsidiary to the Agent and the Lenders on the date such
Wholly-owned Subsidiary becomes a Borrower hereunder.

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     Land. An undeveloped Real Estate Asset owned in fee by the Borrower.

     Leases. Leases, licenses and other written agreements relating to the use or
occupation of space in or on the Buildings or on the Real Estate Assets by persons other than the
Borrower or any other member of the Potomac Group.

     Lenders. Collectively, KeyBank and each other lending institution which, as of any
date of determination, is a party to this Agreement, and any other Person who becomes an assignee
of any rights of a Lender pursuant to §20 or a Person who acquires all or substantially all of the
stock or assets of a Lender.

     Letter of Credit Application. See §5.1.1.

     Letter of Credit Fee. See §2.3(f).

     Letter of Credit Participation. See §5.1.4.

     Letters of Credit. Any standby letter of credit issued pursuant to §5.1.1 and any
“Letter of Credit” outstanding on the Closing Date issued and as defined under the Original Credit
Agreement.

     Libor Business Day. Any day on which commercial banks are open for international
business (including dealings in Dollar deposits) in London, England.

     Libor Breakage Costs. With respect to any Libor Rate Loan to be prepaid prior to the
end of the applicable Interest Period or not borrowed, converted or continued (“drawn” and, with
correlative meaning, “draw”) after elected, a prepayment “breakage” fee in an amount, as reasonably
determined by the Agent, required to compensate the Lenders for any and all additional losses,
costs or expenses that such Lenders incur as a result of such prepayment or failure to borrow,
convert or continue a Libor Rate Loan, including, without limitation, any loss (excluding loss of
anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of
deposits of other funds acquired by any Lender to fund or maintain such Libor Rate Loan.

     Libor Rate. For any Libor Rate Loan for any Interest Period, the average rates as
shown in Reuters Screen LIBOR01 Page (or any successor service) at which deposits in U.S. dollars
are offered by first class banks in the London Interbank Market at approximately 11:00 a.m. (London
time) on the day that is two (2) Libor Business Days prior to the first day of such Interest Period
with a maturity approximately equal to such Interest Period and in an amount approximately equal to
the amount to which such Interest Period relates, adjusted for reserves and taxes if required by
future regulations. If Reuters no longer reports such rate or Agent determines in good faith that
the rate so reported no longer accurately reflects the rate available to Agent in the London
Interbank Market, then any and all outstanding Loans shall be Base Rate Loans and bear interest at
the Base Rate plus the Applicable Base Rate Margin. For any period during which a Reserve
Percentage shall apply, the Libor Rate with respect to Libor Rate Loans shall be equal to the
amount determined above divided by an amount equal to 1 minus the

14

 

Reserve Percentage. In no event will the Libor Rate applicable to Unhedged Loans equal less
than one percent (1%) per annum.

     Libor Rate Loan(s). Loans bearing interest calculated by reference to the Libor Rate.

     Lien. See §9.2.

     Loan Documents. Collectively, this Agreement, the Guaranty and any reaffirmation
thereof, the Notes, the Letters of Credit, the Letter of Credit Applications, the Joinder Documents
and any and all other agreements, instruments, documents or certificates now or hereafter
evidencing or otherwise relating to the Loans and executed and delivered by or on behalf of the
Borrower or its Subsidiaries or the Trust or its Subsidiaries in connection with or in any way
relating to the Loans or the transactions contemplated by this Agreement, and all schedules,
exhibits and annexes hereto or thereto, as any of the same may from time to time be amended and in
effect.

     Loans. The Revolving Credit Loans and the Swingline Loans.

     Majority Lenders. As of any date of determination, the Lenders whose aggregate
Commitments (excluding the Swingline Commitment) constitute at least sixty-six and two-thirds
percent (66-2/3%) of the Total Commitment (or, if the Commitments have been terminated, the Lenders
whose aggregate Commitments (excluding the Swingline Commitment), immediately prior to such
termination, constituted at least sixty-six and two-thirds percent (66-2/3%) of the Total
Commitment), provided that at any time when there are two or more Lenders, the Majority
Lenders must include at least two Lenders.

     Management Fee. For any applicable period, an amount equal to three percent (3%) of
revenue.

     Management Fee Adjustment. For any applicable period, the difference between the
Management Fee and the Overhead Allocation, expressed as a positive or negative number, as the case
may be.

     Maturity Date. January 15, 2013, or such earlier date (or later date pursuant to
§2.9) on which the Revolving Credit Loans shall become due and payable pursuant to the terms
hereof. The Maturity Date may be extended to January 15, 2014 subject to and in accordance with
the terms of §2.9.

     Maximum Drawing Amount. As of any date of determination, the maximum aggregate amount
that the beneficiaries may at any time draw under outstanding Letters of Credit, as such maximum
aggregate amount may be reduced from time to time pursuant to the terms of the Letter of Credit.

     Minimum Liquidity. As of any date of determination, an amount equal to the
Availability as of such date (as described in clause (ii) of the definition of Availability) minus,
without duplication, the aggregate amount of (x) Unsecured Consolidated Total Indebtedness
outstanding on such date and (y) New Debt outstanding on such date.

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     Minimum Liquidity Threshold. Minimum Liquidity in an amount not less than (i)
$30,000,000 from the Closing Date through January 15, 2012, (ii) $25,000,000 from January 16, 2012
through January 15, 2013 and (iii) $20,000,000 thereafter.

     Mortgage Note(s). A mortgage note, in which the Borrower holds a direct interest as
payee, for real estate that is developed, so long as at the relevant date of determination, such
Mortgage Note is not in default.

     Multiemployer Plan. Any multiemployer plan within the meaning of §3(37) of ERISA
maintained or contributed to by the Borrower or the Trust, as the case may be, or any ERISA
Affiliate.

     Net Operating Income. For any period, an amount equal to (i) the aggregate rental and
other income from the operation of the applicable Real Estate Assets during such period;
minus (ii) all expenses and other proper charges incurred in connection with the operation
of such Real Estate Assets (including, without limitation, real estate taxes, management fees (or
Overhead Allocation, as applicable), payments under ground leases and bad debt expenses) during
such period; but, in any case, before payment of or provision for debt service charges for such
period, income taxes for such period, capital expenses for such period, and depreciation,
amortization, and other non-cash expenses for such period, all as determined in accordance with
GAAP (except that any rent leveling adjustments shall be excluded from rental income).

     New Debt. Indebtedness secured by ownership or partnership interests in Real Estate
Assets incurred by the Borrower after the date hereof pursuant to §9.1(f) that is not fully
supported by one or more unencumbered Real Estate Assets (not including the Eligible Unencumbered
Properties), and for the avoidance of doubt, neither the 2007 Term Loan or the 2008 Term Loan nor
any refinancing thereof on substantially the same structure and collateral therefor shall
constitute New Debt, unless the 2007 Term Loan or 2008 Term Loan is increased above the principal
amount thereof on the date hereof.

     Note Record. A Record with respect to any Note.

     Notes. The Revolving Credit Notes and the Swingline Note.

     Obligations. All indebtedness, obligations and liabilities of the Borrower and its
Subsidiaries to any of the Lenders or the Agent, individually or collectively (but without
double-counting), under this Agreement and each of the other Loan Documents and in respect of any
of the Loans, the Notes and Reimbursement Obligations incurred and the Letter of Credit
Applications and the Letters of Credit and other instruments at any time evidencing any thereof,
whether existing on the date of this Agreement or arising or incurred hereafter, direct or
indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or
unliquidated, secured or unsecured, arising by contract, operation of law or otherwise, and
including any indebtedness, obligations and liabilities of the Borrower and its Subsidiaries under
any Protected Interest Rate Agreement entered into with any Lender, provided that such Protected
Interest Rate Agreement is for the purpose of hedging interest exposure under this Agreement.

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     Organizational Documents. Collectively, (i) the Agreement of Limited Partnership of
FPLP, (ii) the Certificate of Limited Partnership of FPLP, (iii) the Amended and Restated
Declaration of Trust of the Trust, (iv) the Amended and Restated By-Laws of the Trust, and (v) all
of the partnership agreements, corporate charters and by-laws, limited liability company operating
agreements, joint venture agreements or similar agreements, charter documents and certificates or
other agreements relating to the formation, organization or governance of any Borrower (including,
without limitation, any Wholly-owned Subsidiary who becomes a Borrower from time to time
hereunder), in each case as any of the foregoing may be amended in accordance with §8.20.

     Overhead Allocation. For any period, the amount of corporate overhead included as a
property operating expense in lieu of a management fee.

     Partially-Owned Entity(ies). Any of the partnerships, associations, corporations,
limited liability companies, trusts, joint ventures or other business entities or Persons in which
the Borrower or the Trust, directly, or indirectly through its full or partial ownership of another
entity, own an equity interest, but which is not required in accordance with GAAP to be
consolidated with the Borrower or the Trust for financial reporting purposes.

     PBGC. The Pension Benefit Guaranty Corporation created by §4002 of ERISA and any
successor entity or entities having similar responsibilities.

     Permits. All governmental permits, licenses, and approvals necessary for the lawful
operation and maintenance of the Real Estate Assets.

     Permitted Liens. Liens permitted by §9.2.

     Permitted Property. A property which is an income producing office, industrial or a
so-called flex property (or a Real Estate Asset Under Development which will be an income producing
office, industrial or so-called flex property when completed) and is located in the State of
Maryland, the Commonwealth of Virginia or the District of Columbia.

     Person. Any individual, corporation, general partnership, limited partnership, trust,
limited liability company, limited liability partnership, unincorporated association, business, or
other legal entity, and any government (or any governmental agency or political subdivision
thereof).

     Potomac Group. Collectively, (i) FPLP, (ii) the Trust, (iii) the respective
Subsidiaries of FPLP and the Trust and (iv) the Partially-Owned Entities.

     Preferred Equity. Any preferred stock, preferred partnership interests, preferred
member interests or other preferred equity interests issued by the Borrower, the Trust or any of
their respective Subsidiaries.

17

 

     Protected Interest Rate Agreement. An agreement which evidences the Interest Rate
Protection Arrangements required by §8.15, and all extensions, renewals, modifications, amendments,
substitutions and replacements thereof.

     Rate Period. The period beginning on the first day of any fiscal month following
delivery to the Agent of the annual or quarterly financial statements required to be delivered
pursuant to §8.4(a) or §8.4(b) and ending on the last day of the fiscal month in which the next
such annual or quarterly financial statements are delivered to the Agent.

     RCRA. See §7.18.

     Real Estate Assets. The fixed and tangible properties consisting of Land and/or
Buildings owned by the Borrower or any of its Subsidiaries at the relevant time of reference
thereto, including, without limitation, the Eligible Unencumbered Properties at such time of
reference.

     Real Estate Assets Under Development. Any Real Estate Assets for which the Borrower
or any of its Subsidiaries is actively pursuing construction of one or more Buildings or other
improvements and for which construction is proceeding to completion without undue delay from Permit
denial, construction delays or otherwise, all pursuant to such Person’s ordinary course of
business, provided that any such Real Estate Asset (or, if applicable, any Building comprising a
portion of any such Real Estate Asset) will no longer be considered a Real Estate Asset Under
Development on the date upon which a certificate of occupancy has issued for such Real Estate Asset
(or Building) or such Real Estate Asset (or Building) may otherwise be lawfully occupied for its
intended use.

     Record. The grid attached to any Note, or the continuation of such grid, or any other
similar record, including computer records, maintained by any Lender with respect to any Loan.

     Recourse. With reference to any obligation or liability, any liability or obligation
that is not Without Recourse to the obligor thereunder, directly or indirectly. For purposes
hereof, a Person shall not be deemed to be “indirectly” liable for the liabilities or obligations
of an obligor solely by reason of the fact that such Person has an ownership interest in such
obligor, provided that such Person is not otherwise legally liable, directly or indirectly,
for such obligor’s liabilities or obligations (e.g., without limitation, by reason of a guaranty or
contribution obligation, by operation of law or by reason of such Person being a general partner of
such obligor).

     Reimbursement Obligation. The Borrower’s obligation to reimburse the Lenders and the
Agent on account of any drawing under any Letter of Credit as provided in §5.2.

     REIT. A “real estate investment trust”, as such term is defined in Section 856 of the
Code.

     Related Parties. With respect to any Person, such Person’s Affiliates and the
partners, directors, officers, employees, agents and advisors of such Person and of such Person’s
Affiliates.

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     Release. See §7.18(c)(iii).

     Reserve Percentage. The maximum aggregate reserve requirement (including all basic,
supplemental, marginal and other reserves) which is imposed on member banks of the Federal Reserve
System against “Euro-currency Liabilities” as defined in Regulation D.

     Revolving Credit Loan(s). Each and every revolving credit loan made or to be made by
the Lenders to the Borrower pursuant to §2 or §5.3, and excluding, in any event, all Swingline
Loans.

     Revolving Credit Notes. Collectively, the separate promissory notes of the Borrower
in favor of each Lender in substantially the form of Exhibit A hereto, in an aggregate
principal amount equal to the Total Commitment in effect from time to time, dated as of the date
hereof or as of such later date as any Person becomes a Lender under this Agreement, and completed
with appropriate insertions, as each of such notes may be amended, replaced, substituted and/or
restated from time to time (including in connection with any Increase).

     SARA. See §7.18.

     SEC. The Securities and Exchange Commission, or any successor thereto.

     SEC Filings. Collectively, (i) each Form 10-K, 10-Q and Form 8-K filed by the Trust
with the SEC from time to time and (ii) each of the other public forms and reports filed by the
Trust with the SEC from time to time.

     Subsidiary. Any corporation, association, partnership, limited liability company,
trust, joint venture or other business entity or Person which is required to be consolidated with
the Borrower or the Trust in accordance with GAAP.

     Swingline Commitment. The obligation of the Swingline Lender to make Swingline Loans
to the Borrower in a maximum aggregate principal amount not exceeding at any time Ten Million
Dollars ($10,000,000).

     Swingline Lender. KeyBank, in its capacity as swingline lender hereunder, or any
Eligible Assignee of KeyBank who executes an Assignment and Assumption assuming KeyBank’s
obligations as Swingline Lender.

     Swingline Loans. Collectively, the loans in the maximum aggregate principal amount of
the Swingline Commitment made or to be made by the Swingline Lender to the Borrower pursuant to
§2.10.

     Swingline Loan Amount. See §2.10(b).

     Swingline Note. The promissory note substantially in the form of Exhibit A-1
hereto which evidences the Swingline Commitment and the Swingline Loans made thereunder.

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     Swingline Termination Date. The date which is no later than the 15th day preceding
the Maturity Date.

     Total Commitment. As of any date, the sum of the then current Commitments of the
Lenders. As of the Closing Date, the Total Commitment (including the Swingline Commitment) is
$175,000,000. After the Closing Date, the aggregate amount of the Total Commitment (inclusive of
Swingline Commitment) may be increased to an amount not exceeding $275,000,000, provided that such
Increase is subject to and shall be effected in accordance with the provisions of §2.8.

     Trust. See preamble.

     2007 Term Loan. The term loan in the original principal amount of $50,000,000 made
pursuant to that certain Secured Term Loan Agreement dated as of August 7, 2007 among FPLP, KeyBank
National Association, as administrative agent and certain lenders party thereto, as amended and in
effect from time to time.

     2008 Term Loan. The term loan in the original principal amount of $35,000,000
(subsequently increased to $50,000,000) made pursuant to that certain Secured Term Loan Agreement
dated as of August 11, 2008 among FPLP, KeyBank National Association, as administrative agent and
certain lenders party thereto, as amended and in effect from time to time.

     Type. As to any Revolving Credit Loan, its nature as a Base Rate Loan or a Libor Rate
Loan.

     Unanimous Lender Approval. The written consent of each Lender that is a party to this
Agreement at the time of reference.

     Unencumbered Asset. Any Real Estate Asset that on any date of determination is not
subject to any Liens (except for Permitted Liens).

     Unencumbered Land. The Real Estate Asset commonly referred to as the Sterling Park
Land Parcel, so long as such Real Estate Asset is not subject to any Liens, except for Permitted
Liens.

     Unencumbered Pool. As determined from time to time, collectively, the Eligible
Unencumbered Properties that the Borrower has designated in writing to be included in the
Unencumbered Pool, subject to and in accordance with the terms hereof.

     Unencumbered Pool Percentage. As of (i) the Closing Date, 65%, (b) December 31, 2010,
62.5% and (iii) December 31, 2011, 60%.

     Unencumbered Pool Capital Reserve. As at any date of determination, a capital reserve
equal to the total number of square feet of the Eligible Unencumbered Properties on such date,
multiplied by $0.15.

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     Unencumbered Property Conditions. See definition of “Eligible Unencumbered
Property(ies)”.

     Unhedged Loans. Any portion of the Loans which are not, at the applicable date of
determination, covered and protected by the Protected Interest Rate Agreement in effect as of the
Closing Date between one or more of the Borrowers and the Administrative Agent and/or its
Affiliate.

     Unsecured Consolidated Total Indebtedness. As of any date of determination, the
aggregate principal amount of Consolidated Total Indebtedness outstanding at such date (including
all Obligations), that is not secured by a Lien evidenced by a mortgage, deed of trust, negative
pledge, assignment of partnership interests or other security interest or otherwise.

     Unsecured Interest Expense. For any period of determination, Consolidated Total
Interest Expense for such period attributable to the Unsecured Consolidated Total Indebtedness of
the Borrower, the Trust and their respective Subsidiaries.

     Value of Unencumbered Properties. At any date of determination, an amount equal to
the sum of (i) (x) the Net Operating Income for the most recent fiscal quarter of the Eligible
Unencumbered Properties owned by the Borrower for at least two complete fiscal quarters, less the
Management Fee Adjustment relating to such Eligible Unencumbered Properties, with the sum thereof
multiplied by (y) 4; with the product thereof being divided by (z)
the Capitalization Rate, plus (ii) an amount equal to the Cost Basis Value of any Eligible
Unencumbered Property not owned for two complete fiscal quarters, plus (iii) an amount
equal to the Cost Basis Value of the Eligible Unencumbered Properties that are Real Estate Assets
under Development, plus (iv) an amount equal to the Cost Basis Value of the Unencumbered Land,
provided that (a) the Net Operating Income attributable to any Eligible Unencumbered
Property sold or otherwise transferred during the applicable period shall be excluded from the
calculation of the Value of Unencumbered Properties, (b) the Net Operating Income of Eligible
Unencumbered Properties included at their Cost Basis Value shall be excluded and (c) the value
included as a result of clause (iii) above shall not exceed ten percent (10%) of the aggregate
Value of Unencumbered Properties at any time.

     Wholly-owned Subsidiary. Any single purpose entity which is a Subsidiary of FPLP and
of which FPLP at all times owns directly or indirectly (through a Subsidiary or Subsidiaries) 100%
of the outstanding voting or controlling interests and of the economic interests.

     “Without Recourse” or “without recourse”. With reference to any obligation or
liability, any obligation or liability for which the obligor thereunder is not liable or obligated
other than as to its interest in a designated Real Estate Asset or other specifically identified
asset only, subject to such limited exceptions to the non-recourse nature of such obligation or
liability, such as fraud, misappropriation and misapplication indemnities, as are usual and
customary in like transactions involving institutional lenders at the time of the incurrence of
such obligation or liability, and to usual and customary

21

 

environmental indemnification obligations in connection with such designated Real Estate
Asset.

          §1.2 Rules of Interpretation.

     (i) A reference to any document or agreement shall include such
document or agreement as amended, modified or supplemented from time
to time in accordance with its terms or the terms of this Agreement.

     (ii) The singular includes the plural and the plural includes
the singular.

     (iii) A reference to any law includes any amendment or
modification to such law.

     (iv) A reference to any Person includes its permitted successors
and permitted assigns.

     (v) Accounting terms not otherwise defined herein have the
meanings assigned to them by generally accepted accounting principles
applied on a consistent basis by the accounting entity to which they
refer.

     (vi) The words “include”, “includes” and “including” are not
limiting.

     (vii) All terms not specifically defined herein or by generally
accepted accounting principles, which terms are defined in the
Uniform Commercial Code as in effect in New York, have the meanings
assigned to them therein.

     (viii) Reference to a particular “§” refers to that section of
this Agreement unless otherwise indicated.

     (ix) The words “herein”, “hereof”, “hereunder” and words of like
import shall refer to this Agreement as a whole and not to any
particular section or subdivision of this Agreement.

     §2. THE REVOLVING CREDIT FACILITY.

     §2.1 Commitment to Lend.
Subject to the provisions of §2.4 and the other terms and conditions set forth in this
Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower
may borrow, repay, and reborrow from each Lender from time to time between the Closing Date
and the Maturity Date upon notice by the Borrower to the Agent (with copies to the Agent
for each Lender) given in accordance with §2.4, such sums as are requested

22

 

by the Borrower up to a maximum aggregate
principal amount outstanding (after giving effect to all amounts requested) at any one time
equal to such Lender’s Commitment minus, without double counting, an amount equal to such
Lender’s Commitment Percentage multiplied by the sum of (i) all Reimbursement Obligations
to the extent not yet deemed Revolving Credit Loans and the Maximum Drawing Amount and (ii)
the outstanding principal amount of the Swingline Loans; provided that the sum of the
outstanding amount of the Revolving Credit Loans (after giving effect to all amounts
requested), plus the Maximum Drawing Amount and, without double counting the portion, if
any, of any Letter of Credit which is drawn and included in the Revolving Credit Loans, all
outstanding Reimbursement Obligations, plus the outstanding principal amount of the
Swingline Loans shall not at any time exceed the lesser of (i) the Total Commitment and
(ii) the Availability at such time, and provided, further, that at the time the Borrower
requests a Revolving Credit Loan and after giving effect to the making thereof: (i) in the
case of any borrowing or other extension of credit, all of the conditions in §13 (and in
the case of the initial borrowing on the Closing Date, also the conditions in §12) have
been met at the time of such request, and (ii) there has not occurred and is not continuing
(or will not occur by reason thereof) any Default or Event of Default.

     The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment
Percentage. Each request for a Revolving Credit Loan made pursuant to §2.4 shall constitute a
representation and warranty by the Borrower that the conditions set forth in §12 have been
satisfied as of the Closing Date and that the conditions set forth in §13 have been satisfied on
the date of such request and will be satisfied on the proposed Drawdown Date of the requested Loan
or issuance of Letter of Credit, as the case may be, provided that the making of such
representation and warranty by the Borrower shall not limit the right of any Lender not to lend if
such conditions have not been met. No Revolving Credit Loan or other extension of credit shall be
required to be made by any Lender unless all of the conditions contained in §12 have been satisfied
as of the Closing Date with respect to the initial Revolving Credit Loan or issuance of Letter of
Credit, and unless all of the conditions set forth in §13 have been satisfied at the time of any
request for a Revolving Credit Loan or other extension of credit and on the Drawdown Date therefor.

     §2.2 The Revolving Credit Notes.
The Revolving Credit Loans shall be evidenced by the Revolving Credit Notes. A
Revolving Credit Note shall be payable to the order of each Lender in an aggregate
principal amount equal to such Lender’s Commitment. The Borrower irrevocably authorizes
each Lender to make or cause to be made, at or about the time of the Drawdown Date of any
Revolving Credit Loan or at the time of receipt of any payment of principal on such
Lender’s Revolving Credit Note, an appropriate notation on such Lender’s applicable Note
Record reflecting the making of such Revolving Credit Loan or (as the case may be) the
receipt of such
payment. The outstanding amount of the Revolving Credit Loans set forth on such
applicable Note Record shall be prima facie evidence of the principal amount thereof owing
and unpaid to such Lender, but the failure to record, or any error in so recording, any
such amount on such

23

 

Note Record shall not limit or otherwise affect the rights and obligations of the Borrower
hereunder or under any Revolving Credit Note to make payments
of principal of or interest on any Revolving Credit Note when due.

     §2.3 Interest on Revolving Credit Loans; Fees.

          (a) Each Base Rate Loan shall bear interest for the period commencing with the
Drawdown Date thereof and ending on the last day of each Interest Period with respect
thereto (unless earlier paid in accordance with §3.2) at a rate equal to the greater of (i)
the Base Rate plus the Applicable Base Rate Margin, and (ii) the one month Libor Rate plus
the Applicable Libor Margin.

          (b) Each Libor Rate Loan shall bear interest for the period commencing with the
Drawdown Date thereof and ending on the last day of each Interest Period with respect
thereto (unless earlier paid in accordance with §3.2) at a rate equal to the Libor Rate
determined for such Interest Period plus the Applicable Libor Margin.

          (c) With reference to Base Rate Loans and Libor Rate Loans, the “Applicable Base Rate
Margin” and the “Applicable Libor Margin” shall be equal to the percentage determined for
each Rate Period by reference to the Table below (and for the Applicable Margin as of the
Closing Date, based upon the Borrower’s September 30, 2009 financial statements):

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Table
	Applicable Margin
	 	 	 	 	 	 	 	 	 	 	Applicable
	 	 	 	 	 	 	 	 	 	 	Base Rate
	 	 	 	 	Total Leverage Ratio	 	Applicable Libor Margin	 	Margin
	 	a	)	 	greater than 60%
	 	 	3.75	%	 	 	2.5	%
	 	b	)	 	less than or equal to 60% but
greater than 55%
	 	 	3.25	%	 	 	2.0	%
	 	c	)	 	less than or equal to 55% but
greater than 50%
	 	 	3.0	%	 	 	1.75	%
	 	d	)	 	less than or equal to 50%
	 	 	2.75	%	 	 	1.5	%

     For purposes of determining the Applicable Base Rate Margin and the Applicable Libor Margin,
the Consolidated Total Leverage Ratio (§10.1 hereof) will be tested quarterly, commencing with the
fiscal quarter of the Borrower ending December 31,

24

 

2009, based on the annual or quarterly financial
statements required to be delivered pursuant to §8.4(a) or 8.4(b), respectively. For purposes of
determining the interest rate for any Rate Period hereunder, any interest rate change shall be
effective on the first day of the fiscal month immediately following the date on which the
financial statements required to be delivered pursuant to §8.4(a) or §8.4(b) are delivered to the
Agent, together with a notice to the Agent (which shall be verified by the Agent) specifying any
change in the Applicable Base Rate Margin and/or the Applicable Libor Margin. If the Borrower has
failed to timely deliver the financial statements required to be delivered by it pursuant to
§8.4(a) or §8.4(b), then in addition to the other rights and remedies of the Lenders hereunder, the
Applicable Base Rate Margin and the Applicable Libor Margin that are then in effect shall, at the
Agent’s discretion, be increased to the next highest level until such financial statements are
delivered.

          (d) The Borrower unconditionally promises to pay interest on each Revolving Credit
Loan in arrears on each Interest Payment Date with respect thereto, and when the principal
of such Revolving Credit Loan is due (whether at maturity, by reason of acceleration or
otherwise).

          (e) The Borrower agrees to pay to the Agent, for the accounts of the Lenders in
accordance with their respective Commitment Percentages, from the Closing Date through the
Maturity Date, a facility fee (the “Facility Fee”) calculated at the rate of 0.25% per
annum, calculated on the average daily amount, during each fiscal quarter or portion
thereof, of the unborrowed portion of the Total Commitment. The Facility Fee shall be
payable quarterly in arrears on the fifth Business Day of each calendar quarter for the
immediately preceding calendar quarter commencing on the first such date following the
Closing Date through the Maturity Date, with a final payment on the Maturity Date.

          (f) The Borrower shall pay to the Agent a Letter of Credit fee (a “Letter of Credit
Fee”) in an amount equal to the Applicable L/C Percentage of the undrawn amount of each
outstanding Letter of Credit, which fee shall be for the accounts of the Lenders (including
the Fronting Bank in its capacity as a Lender) pro rata in accordance with their respective
Commitment Percentages. Each Letter of Credit Fee shall be payable quarterly in arrears on
the fifth Business Day of each calendar quarter for the immediately preceding calendar
quarter, with a final payment on the Maturity Date or any earlier date on which the
Commitments shall terminate (which Letter of Credit Fee shall be pro-rated for any calendar
quarter in which such Letter of Credit is issued, drawn upon or otherwise reduced or
terminated). The Borrower shall also pay to the Fronting Bank, for its own account, a fee
in an amount equal to 0.125% of the face amount of each Letter of Credit upon issuance
thereof, along with reasonable standard documentation and service charges for Letters of
Credit from time to time, as customarily charged by Fronting Bank.

     §2.4 Requests for Revolving Credit Loans and Letters of Credit.

25

 

          The following provisions shall apply to each request by the Borrower for a Revolving Credit
Loan and Letter of Credit:

     (i) FPLP, for itself and as agent for each other Borrower, shall
submit a Completed Loan Request to the Agent, together with a current
Availability Certificate in the form of Exhibit B-1 hereto. Except as
otherwise provided herein, each Completed Loan Request shall be in a
minimum amount of $500,000 or an integral multiple of $100,000 in
excess thereof. Each Completed Loan Request shall be irrevocable and
binding on the Borrower and shall obligate the Borrower to accept the
Revolving Credit Loans or the Letter of Credit requested from the
Lenders on the proposed Drawdown Date.

     (ii) Each Completed Loan Request for a Revolving Credit Loan
shall be delivered by the Borrower to the Agent by 10:00 a.m. (x) on
the Business Day before the proposed Drawdown Date of any Base Rate
Loan, and (y) at least two (2) Business Days prior to the proposed
Drawdown Date of any Libor Rate Loan.

     (iii) Each Completed Loan Request shall include a completed
writing in the form of Exhibit B hereto specifying: (1) the principal
amount of the Revolving Credit Loan or Letter of Credit requested,
(2) the proposed Drawdown Date of such Revolving Credit Loan or the
date on which such Letter of Credit is requested to be issued, (3)
the Interest Period applicable to such Revolving Credit Loan, and (4)
the Type of such Revolving Credit Loan being requested, and
certifying that, both before and after giving effect to such
requested Revolving Credit Loan or Letter of Credit, no Default or
Event of Default exists or will exist under this Agreement or any
other Loan Document and that, after giving effect to the Requested
Revolving Credit Loan or Letter of Credit (and all other outstanding
Revolving Credit Loans and Letters of Credit), the Borrower is in
compliance with Availability.

     (iv) No Lender shall be obligated to fund any Revolving Credit
Loan unless:

          (a) a Completed Loan Request has been timely received by the Agent
as provided in subsection (i) above; and

26

 

(b) both before and after giving effect to the Revolving Credit
Loan to be made pursuant to the Completed Loan Request, all of the
conditions contained in §12 shall have been satisfied as of the
Closing Date, with respect to the initial advance only, and all of
the conditions set forth in §13 shall have been met, including,
without limitation, the condition under §13.1 that there be no
Default or Event of Default under this Agreement.

     (v) The Agent will promptly notify each Lender of any Completed
Loan Request for a Revolving Credit Loan and will cause a copy
thereof to be delivered to each Lender on the same Business Day
received, or, in the case of a Libor Rate Loan, the next Business
Day, in each case absent circumstances outside of its control.

     §2.5 Conversion Options.

          (a) The Borrower may elect from time to time to convert any outstanding Revolving
Credit Loan to a Revolving Credit Loan of another Type, provided that (i) subject to the
further proviso at the end of this §2.5(a) and subject to §2.5(b) and §2.5(d), with respect
to any conversion of a Base Rate Loan to a Libor Rate Loan (or a continuation of a Libor
Rate Loan, as provided in §2.5(b)), the Borrower shall give the Agent at least three (3)
Business Days’ prior written notice of such election, which such notice must be received by
the Agent by 10:00 a.m. on any Business Day; and (ii) no Loan may be converted into a Libor
Rate Loan when any Default or Event of Default has occurred and is continuing. All or any
part of outstanding Revolving Credit Loans of any Type may be converted as provided herein,
provided that each Conversion Request relating to the conversion of a Base Rate Loan to a
Libor Rate Loan shall be for an amount equal to $1,000,000 or an integral multiple of
$100,000 in excess thereof and shall be irrevocable by the Borrower.

          (b) Any Revolving Credit Loan of any Type may be continued as such upon the expiration
of the Interest Period with respect thereto (i) in the case of Base Rate Loans,
automatically and (ii) in the case of Libor Rate Loans by compliance by the Borrower with
the notice provisions contained in §2.5(a)(i); provided that no Libor Rate Loan may be
continued as such when any Default or Event of Default has occurred and is continuing but
shall be automatically converted to a Base Rate Loan on the last day of the first Interest
Period relating thereto ending during the continuance of any Default or Event of Default.
The Borrower shall notify the Agent promptly when any such automatic conversion
contemplated by this §2.5(b) is scheduled to occur.

          (c) In the event that the Borrower does not notify the Agent of its election hereunder
with respect to any Revolving Credit Loan in accordance

27

 

with the terms hereof, such Loan shall be automatically converted to a Base Rate Loan
at the end of the applicable Interest Period.

          (d) The Borrower may not request or elect a Libor Rate Loan pursuant to §2.4, elect to
convert a Base Rate Loan to a Libor Rate Loan pursuant to §2.5(a) or elect to continue a
Libor Rate Loan pursuant to §2.5(b) if, after giving effect thereto, there would be greater
than seven (7) Libor Rate Loans then outstanding. Any Loan Request or Conversion Request
for a Libor Rate Loan that would create greater than seven (7) Libor Rate Loans outstanding
shall be deemed to be a Loan Request or Conversion Request for a Base Rate Loan. By way of
explanation of the foregoing, in the event that the Borrower wishes to convert or continue
two or more Loans into one Libor Rate Loan on the same day and for identical Interest
Periods (or borrow an additional Revolving Credit Loan simultaneously with converting or
continuing a Revolving Credit Loan for identical Interest Periods), such Libor Rate Loan
shall constitute one single Libor Rate Loan for purposes of this clause (d).

          (e) The Agent will promptly notify each Lender of any Conversion Request received
pursuant to §2.5(a) or continuation pursuant to §2.5(b) in accordance with its customary
practices.

     §2.6 Funds for Revolving Credit Loans.

          (a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Cleveland,
Ohio time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders
will make available to the Agent, at the Agent’s Head Office, in immediately available
funds, the amount of such Lender’s Commitment Percentage of the amount of the requested
Revolving Credit Loan. Upon receipt from each Lender of such amount, the Agent will make
available to the Borrower the aggregate amount of such Revolving Credit Loan made available
to the Agent by the Lenders. All such funds received by the Agent by 11:00 a.m.
(Cleveland, Ohio time) on any Business Day will be made available to the Borrower not later
than 2:00 p.m. on the same Business Day; funds received after such time will be made
available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of
any Lender to make available to the Agent at the aforesaid time and place on any Drawdown
Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall
not relieve any other Lender from its several obligation hereunder to make available to the
Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in
no event shall the Agent (in its capacity as Agent) have any obligation to make any funding
or shall any Lender be obligated to fund more than its Commitment Percentage of the
requested Revolving Credit Loan or to increase its Commitment Percentage on account of such
failure or otherwise.

          (b) The Agent may, unless notified to the contrary by any Lender prior to a Drawdown
Date, assume that such Lender has made available to the Agent on such Drawdown Date the
amount of such Lender’s Commitment

28

 

Percentage of the Revolving Credit Loan to be made on such Drawdown Date, and the
Agent may (but it shall not be required to), in reliance upon such assumption, make
available to the Borrower a corresponding amount. If any Lender makes available to the
Agent such amount on a date after such Drawdown Date, such Lender shall pay to the Agent on
demand an amount equal to the product of (i) the average, computed for the period referred
to in clause (iii) below, of the weighted average interest rate paid by the Agent for
federal funds acquired by the Agent during each day included in such period, multiplied by
(ii) the amount of such Lender’s Commitment Percentage of such Revolving Credit Loan,
multiplied by (iii) a fraction, the numerator of which is the number of days that elapsed
from and including such Drawdown Date to the date on which the amount of such Lender’s
Commitment Percentage of such Revolving Credit Loan shall become immediately available to
the Agent, and the denominator of which is 365. A statement of the Agent submitted to such
Lender with respect to any amounts owing under this paragraph shall be prima facie evidence
of the amount due and owing to the Agent by such Lender.

     §2.7 Reduction of Commitment.
The Borrower shall have the right at any time and from time to time upon five (5)
Business Days’ prior written notice to the Agent (with copies to the Agent for each Lender)
to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess thereof (but not
below $20,000,000 or, if greater, the Maximum Drawing Amount) or terminate entirely the
unborrowed portion of the then Total Commitment, whereupon the Commitments of the Lenders
shall be reduced pro rata in accordance with their respective Commitment Percentages by the
amount specified in such notice or, as the case may be, terminated. Upon the effective
date of any such reduction or termination, the Borrower shall pay to the Agent for the
respective accounts of the Lenders all accrued and unpaid interest on the amount of such
reduction and the full amount of the Facility Fee then accrued and unpaid on the amount of
the reduction. No reduction or termination of the Commitments may be reinstated.

     §2.8 Increase in Total Commitment.
At any time (but at least 60 days prior to the Maturity Date), the Borrower shall have
the right, upon written notice to the Agent and satisfaction of the Increase Conditions, to
cause the Total Commitment to increase by an amount not at any time exceeding, in the
aggregate from and after the Closing Date, $100,000,000 (the “Increase”), in which event
Schedule 2 will be deemed to be amended to reflect the increased Commitment of each Lender,
if any, that has agreed in writing to an increase and to add any third party financial
institution that may have become a party to, and a “Lender” under, this Agreement in
connection with the Increase (and the Agent is hereby authorized to effect such amendment
on behalf of the Lenders and the Borrower); provided, however, that it shall be a condition
precedent to the effectiveness of the Increase that the Increase Conditions shall have been
satisfied. In the event that the Increase results in any
change to the Commitment Percentage of any Lender, then on the effective date of such
Increase in the Total Commitment (i) any new Lender, and any existing Lender whose
Commitment has increased, shall pay to the Agent such amounts as are necessary to fund its
new or increased

29

 

Commitment Percentage of all existing Revolving Credit Loans, (ii) the
Agent will use the proceeds thereof to pay to all Lenders whose Commitment Percentage is
decreasing such amounts as are necessary so that each such Lender’s participation in
existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and
(iii) if the effective date of such Increase in the Total Commitment occurs on a date other
than the last day of an Interest Period applicable to any outstanding Libor Rate Loan, the
Borrower will be responsible for Libor Breakage Costs and any other amounts payable
pursuant to §4.8 on account of the payments made pursuant to clause (ii) above. No Lender
shall have any obligation to increase its Commitment in connection with the Increase.

     §2.9 Extension of Revolving Credit Maturity Date.
At least thirty (30) days but in no event more than ninety (90) days prior to January
15, 2013, the Borrower, by written notice to the Agent (with copies for each Lender), may
request an extension of the Maturity Date by a period of one year from the Maturity Date
then in effect (the “Extension”). The Extension shall become effective on January 15, 2013,
so long as (i) the Borrower has paid to the Agent on such date, for the ratable accounts of
the Lenders, an extension fee in an amount equal to 50 basis points on the Total Commitment
in effect on such date, and (ii) no Default or Event of Default has occurred and is
continuing on such date and all representations and warranties contained in the Loan
Documents are true and correct as of such date (except to the extent that such
representations and warranties relate expressly to an earlier date). The notice referred
to in the first sentence of this §2.9 shall constitute and shall be deemed to be a
certification by the Borrower as to the truth and accuracy of the statements contained in
clause (ii) of the preceding sentence.

     §2.10 Swingline Loans.

          (a) Availability. Subject to the terms and conditions of this Agreement and
so long as the Borrower has delivered to the Agent a loan request, including the
certificate referred to in §2.4(iii), as if all references in §2.4(iii) to Revolving Credit
Loans were to Swingline Loans, the Swingline Lender agrees to make Swingline Loans to the
Borrower from time to time from the Closing Date to, but not including, the Swingline
Termination Date; provided, that the aggregate principal amount of all outstanding
Swingline Loans (after giving effect to any amount requested) at any time, shall not exceed
the lesser of (i) the Total Commitment in effect at such time less the sum of (A) all
outstanding Revolving Credit Loans at such time (after giving effect to all amounts
requested) and (B) the Maximum Drawing Amount and, (C) without double-counting the portion,
if any, of any Letter of Credit which is drawn and included in the Revolving Credit Loans
or the Maximum Drawing Amount, all outstanding Reimbursement
Obligations at such time, and (ii) the Swingline Commitment at such time. Swingline
Loans hereunder may be used in anticipation of borrowing Revolving Credit Loans and for
other short-term requirements and shall be repaid in accordance with the terms hereof.
Each Swingline Loan must be for an amount equal to at least $1,000,000 and in an integral
multiple of $100,000 and shall be

30

 

evidenced by the Swingline Note. The Swingline Lender
shall initiate the transfer of funds representing the Swingline Loan to the Borrower by
4:00 p.m. (Cleveland, Ohio time) on the Business Day of the requested borrowing, so long as
the Swingline Loan has been requested by the Borrower no later than 1:00 p.m. (Cleveland,
Ohio time) on such Business Day. In no event shall the number of Swingline Loans
outstanding at any time exceed three (3). Subject to §4.9, all Swingline Loans shall bear
interest at the Base Rate plus the Applicable Base Rate Margin. The Borrower
unconditionally promises to pay interest on each Swingline Loan in arrears on each Interest
Payment Date with respect thereto.

          (b) Repayment. The Borrower hereby absolutely and unconditionally promises to
repay the outstanding principal amount of each Swingline Loan and all accrued interest and
charges thereon (the “Swingline Loan Amount”) on the earliest to occur of: (i) demand,
(ii) the fifth (5th) Business Day after the date on which the Swingline Loan is advanced or
(iii) the Swingline Termination Date; provided, the Borrower shall have the right to prepay
Swingline Loans without penalty or any prepayment charge.

          (c) Refunding and Conversion of Swingline Loans to Revolving Credit Loans.

     (i) On the Business Day before the maturity of a Swingline Loan
(which shall be no longer than the period for repayment set forth
above in §2.10(b)), the Borrower shall notify the Agent if it intends
to request a Base Rate Loan in order to repay such Swingline Loan, or
three Business Days before the maturity of a Swingline Loan (which
shall be no longer than the period for repayment set forth above in
§2.10(b)), the Borrower shall notify the Agent if it intends to
request a Libor Rate Loan in order to repay such Swingline Loan. In
any event, if any Swingline Loan has not been repaid by 1:00 p.m.
(Cleveland, Ohio time) on the maturity date thereof, the Agent shall
promptly notify the Lenders thereof and the Borrower shall be deemed
to have requested on such date a Revolving Credit Loan comprised
solely of a Base Rate Loan in a principal amount equal to the
Swingline Loan Amount in order to repay such Swingline Loan. Such
refundings of the Swingline Loan through the funding of such
Revolving Credit Loans shall be made by the Lenders in accordance
with their respective Commitment Percentages and shall thereafter be
reflected as Revolving Credit Loans of the Lenders on the books and
records of the Agent.

     (ii) If a Default or an Event of Default has occurred and is
continuing, all Swingline Loans shall be refunded by the Lenders on
demand by the Swingline Lender, in which case the Borrower shall be
deemed to have requested

31

 

on such date of demand a Revolving Credit
Loan comprised solely of a Base Rate Loan in a principal amount equal
to the Swingline Loan Amount for such Swingline Loans. Such
refundings of the Swingline Loans through the funding of such
Revolving Credit Loans shall be made by the Lenders in accordance
with their respective Commitment Percentages and shall thereafter be
reflected as Revolving Credit Loans of the Lenders on the books and
records of the Agent.

     (iii) Each Lender shall fund its respective Commitment
Percentage of Revolving Credit Loans as required to so repay
Swingline Loans outstanding to the Swingline Lender upon such deemed
request or demand by the Swingline Lender but in no event later than
2:00 p.m. (Cleveland, Ohio time) on the next succeeding Business Day
after such deemed request or demand is made. No Lender’s obligation
to fund its respective Commitment Percentage of the repayment of a
Swingline Loan shall be affected by any other Lender’s failure to
fund its Commitment Percentage of such repayment, nor shall any
Lender’s Commitment Percentage be increased as a result of any such
failure of any other Lender to fund its Commitment Percentage. To the
extent any Lender does not fund its respective Commitment Percentage
of any Revolving Credit Loan to the Borrower pursuant to this
§2.10(c)(iii) or purchase its undivided participating interest in any
Swingline Loan in accordance with §2.10(c)(v), such Lender shall be
deemed a Delinquent Lender and the Borrower shall repay such amounts
to the Swingline Lender in accordance with the provisions of §3.3 as
if such Loan were a Revolving Credit Loan for which a Bank did not
remit its share to the Agent. If any portion of any such amount paid
to the Swingline Lender shall be recovered by or on behalf of the
Borrower from the Swingline Lender in bankruptcy or otherwise, the
loss of the amount so recovered shall be ratably shared among all the
Lenders.

     (iv) If at any time the Borrower receives notice from the
Swingline Lender that the aggregate principal amount of all Revolving
Credit Loans outstanding, plus the aggregate principal amount of all
Swingline Loans outstanding (including the Swingline Loan for which
demand for payment is then made by the Swingline Lender pursuant to
this subsection), plus the Maximum Drawing Amount and, plus,
without double-counting the portion, if any, of any Letter of
Credit which is drawn and included in the Revolving Credit Loans or
the Maximum Drawing Amount, all outstanding Reimbursement Obligations
at such time equals or exceeds the

32

 

lesser of the Total Commitment at
such time or Availability at such time, the Borrower shall repay the
amount of such excess upon demand by the Swingline Lender, which
payment shall be applied first to the Swingline Loans and then to the
Revolving Credit Loans.

     (v) Each Lender acknowledges and agrees that its obligation to
refund Swingline Loans with Revolving Credit Loans in accordance with
the terms of this §2.10 is absolute and unconditional and shall not
be affected by any circumstance whatsoever, including, in any event,
non-satisfaction of any conditions set forth in this Agreement
pertaining to advances of Revolving Credit Loans hereunder, except to
the limited extent expressly referred to in the first sentence of
§2.10(a). Further, each Lender agrees and acknowledges that if,
prior to the refunding of any outstanding Swingline Loans pursuant to
this §2.10, one of the events described in §§14.1(g) or (h) shall
have occurred or any of the conditions set forth in §13.2 have not
been met, each Lender will, on the date the applicable Revolving
Credit Loan would have been made pursuant to §2.10(c)(i) or (ii),
purchase an undivided participating interest in the Swingline Loan to
be refunded in an amount equal to its Commitment Percentage of such
Swingline Loan Amount. Each Lender will immediately transfer to the
Swingline Lender, in immediately available funds, the amount of its
participation. Whenever, at any time after the Swingline Lender has
received from any Lender such Lender’s participating interest in a
Swingline Loan, the Swingline Lender receives any payment on account
thereof, the Swingline Lender will distribute to such Lender its
participating interest in such amount (appropriately adjusted, in the
case of interest payments, to reflect the period of time during which
such Lender’s participating interest was outstanding and funded).

     (vi) Each Lender’s Commitment Percentage applicable to any
Swingline Loan shall be identical to its Commitment Percentage
applicable to Revolving Credit Loans.

     §3. REPAYMENT OF THE LOANS.

     §3.1 Maturity.
The Borrower promises to pay on the Maturity Date, and there shall become absolutely
due and payable on the Maturity Date, all unpaid principal of the Revolving Credit Loans
outstanding on such date, together with any and all accrued and unpaid interest thereon,
the unpaid balance of the Facility Fee and the Letter of Credit Fees accrued through such
date, and any and

33

 

all other unpaid amounts due under this Agreement, the Notes or any other
of the Loan Documents.

     §3.2 Optional Repayments of Revolving Credit Loans.
The Borrower shall have the right, at its election, to prepay the outstanding amount
of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium;
provided that the outstanding amount of any Libor Rate Loans may not be prepaid on a date
other than the last day of an Interest Period unless the Borrower pays the Libor Breakage
Costs for each Libor Rate Loan so prepaid at the time of such prepayment. The Borrower
shall give the Agent (with copies to the Agent for each Lender), no later than 10:00 a.m.,
Cleveland, Ohio time, at least two (2) Business Days’ prior written notice of any
prepayment pursuant to this §3.2 of any Base Rate Loans, and at least four (4) Business
Days’ notice of any proposed prepayment pursuant to this §3.2 of Libor Rate Loans,
specifying the proposed date of prepayment of Revolving Credit Loans and the principal
amount to be prepaid. Each such partial prepayment of the Loans shall be in an amount
equal to $1,000,000 or an integral multiple of $1,000,000 in excess thereof or, if less,
the outstanding balance of the Revolving Credit Loans then being repaid, shall be
accompanied by the payment of all charges, if any, outstanding on all Revolving Credit
Loans so prepaid and of all accrued interest on the principal prepaid to the date of
payment, and shall be applied, in the absence of instruction by the Borrower, first to the
principal of Base Rate Loans and then to the principal of Libor Rate Loans.

     §3.3 Mandatory Repayment of Loans.
If at any time the sum of the outstanding amount of the Loans, plus the Maximum
Drawing Amount, plus without double counting any Revolving Credit Loans, the outstanding
Reimbursement Obligations, if any, exceeds the lesser of (i) the Total Commitment at such
time, or (ii) the Availability at such time, the Borrower shall immediately pay to the
Agent, for the benefit of the Lenders (including the Swingline Lender), in an amount in
cash necessary to eliminate such excess, such amount to be applied, in the absence of
instruction by the Borrower, (x) first to the repayment of Swingline Loans and second to
the repayment of Revolving Credit Loans and (y) with respect to any such payments of
Revolving Credit Loans, first to the principal of Base Rate Loans and then to the principal
of Libor Rate Loans.

     §4. CERTAIN GENERAL PROVISIONS.

     §4.1 Funds for Payments.

          (a) All payments of principal, interest, fees, and any other amounts due hereunder or
under any of the other Loan Documents shall be made to the Agent, for the respective
accounts of the Lenders or (as the case may be) the Agent, at the Agent’s Head Office, in
each case in Dollars and in immediately available funds. The Borrower shall make each
payment of principal of and interest on the Loans and Reimbursement Obligations which are
not converted to

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a Loan hereunder and of fees hereunder not later than 12:00 p.m.
(Cleveland, Ohio time) on the due date thereof.

          (b) All payments by the Borrower hereunder and under any of the other Loan Documents
shall be made without setoff or counterclaim and free and clear of and without deduction
for any taxes, levies, imposts, duties, charges, fees, deductions, withholdings, compulsory
liens, restrictions or conditions of any nature now or hereafter imposed or levied by any
jurisdiction or any political subdivision thereof or taxing or other authority therein
unless the Borrower is compelled by law to make such deduction or withholding. If the
Borrower is compelled by law to make any such deduction or withholding with respect to any
amount payable by it hereunder or under any of the other Loan Documents (except with
respect to taxes on the income or profits of the Agent or any Lender), the Borrower shall
pay to the Agent, for the account of the Lenders or (as the case may be) the Agent, on the
date on which such amount is due and payable hereunder or under such other Loan Document,
such additional amount in Dollars as shall be necessary to enable the Lenders to receive
the same net amount which the Lenders would have received on such due date had no such
deduction or withholding obligation been imposed upon the Borrower. The Borrower will
deliver promptly to the Agent (with copies to the Agent for each Lender) certificates or
other valid vouchers for all taxes or other charges deducted from or paid with respect to
payments made by the Borrower hereunder or under such other Loan Document.

     §4.2 Computations.
All computations of interest on Libor Rate Loans and of other fees to the extent
applicable shall be based on a 360-day year and all computations of interest on Base Rate
Loans shall be based on a 365/366 day year, in each case paid for the actual number of days
elapsed. Except as otherwise provided in the definition of the term “Interest Period” with
respect to Libor Rate Loans, whenever a payment hereunder or under any of the other Loan
Documents becomes due on a day that is not a Business Day, the due date for such payment
shall be extended to the next succeeding Business Day, and interest shall accrue during
such extension. The outstanding amount of the Loans as reflected on the Note Records or
record attached to any other Note from time to time shall constitute prima facie evidence
of the principal amount thereof.

     §4.3 Inability to Determine Libor Rate.
In the event, prior to the commencement of any Interest Period relating to any Libor
Rate Loan, the Agent shall determine that adequate and reasonable methods do not exist for
ascertaining the Libor Rate that would otherwise determine the rate of interest to be
applicable to any Libor Rate Loan during any Interest Period, the Agent shall forthwith
give notice of such determination (which shall be conclusive and binding on the Borrower)
to the Borrower and the Lenders. In such event (a) any Loan Request with respect to Libor
Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate
Loans, (b) each Libor Rate Loan will automatically, on the last day of the then current
Interest Period applicable thereto, become a Base Rate Loan, and (c) the obligations of the
Lenders to make

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Libor Rate Loans shall be suspended, in each case unless and until the
Agent determines that the circumstances giving rise to such suspension no longer exist,
whereupon the Agent shall so notify the Borrower and the Lenders.

     §4.4 Illegality.
Notwithstanding any other provisions herein, if any present or future law, regulation,
treaty or directive or in the interpretation or application thereof shall make it unlawful
for any Lender to make or maintain Libor Rate Loans, such Lender shall forthwith give
notice of such circumstances to the Agent and the Borrower and thereupon (a) the Commitment
of such Lender to make Libor Rate Loans or convert Base Rate Loans to Libor Rate Loans
shall forthwith be suspended and (b) such Lender’s Commitment Percentage of Libor Rate
Loans then outstanding shall be converted automatically to Base Rate Loans on the last day
of each Interest Period applicable to such Libor Rate Loans or within such earlier period
as may be required by law, all until such time as it is no longer unlawful for such Lender
to make or maintain Libor Rate Loans. The Borrower hereby agrees promptly to pay the Agent
for the account of such Lender, upon demand, any additional amounts necessary to compensate
such Lender for Libor Breakage Costs incurred by such Lender in making any conversion
required by this §4.4 prior to the last day of an Interest Period.

     §4.5 Additional Costs, Etc.
If any present or future applicable law, which expression, as used herein, includes
statutes, rules and regulations thereunder and interpretations thereof by any competent
court or by any governmental or other regulatory body or official charged with the
administration or the interpretation thereof and requests, directives, instructions and
notices at any time or from time to time hereafter made upon or otherwise issued to any
Lender or the Agent by any central bank or other fiscal, monetary or other authority
(whether or not having the force of law, but if not having the force of law, then generally
applied by the Lenders or the Agent with respect to similar loans), shall:

          (a) subject any Lender or the Agent to any tax, levy, impost, duty, charge, fee,
deduction or withholding of any nature with respect to this
Agreement, the other Loan Documents, any Letters of Credit, such Lender’s Commitment
or the Loans (other than taxes based upon or measured by the income or profits of such
Lender or the Agent), or

          (b) change the basis of taxation (except for changes in taxes on income or profits) of
payments to any Lender of the principal of or the interest on any Loans or any other
amounts payable to the Agent or any Lender under this Agreement or the other Loan
Documents, or

          (c) impose or increase or render applicable (other than to the extent specifically
provided for elsewhere in this Agreement) any special deposit, reserve, assessment,
liquidity, capital adequacy or other similar requirements (whether or not having the force
of law) against assets held by, or deposits in or

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for the account of, or loans by, or
letters of credit issued by, or commitments of an office of any Lender, or

          (d) impose on any Lender or the Agent any other conditions or requirements with
respect to this Agreement, the other Loan Documents, the Loans, such Lender’s Commitment,
or any class of loans or commitments of which any of the Loans or such Lender’s Commitment
forms a part;

and the result of any of the foregoing is

     (i) to increase the cost to any Lender of making, funding,
issuing, renewing, extending or maintaining any of the Loans or such
Lender’s Commitment or any Letter of Credit, or

     (ii) to reduce the amount of principal, interest, Reimbursement
Obligation or other amount payable to such Lender or the Agent
hereunder on account of such Lender’s Commitment, any Letter of
Credit or any of the Loans, or

     (iii) to require such Lender or the Agent to make any payment or
to forego any interest or Reimbursement Obligation or other sum
payable hereunder, the amount of which payment or foregone interest
or Reimbursement Obligation or other sum is calculated by reference
to the gross amount of any sum receivable or deemed received by such
Lender or the Agent from the Borrower hereunder,

     then, and in each such case, the Borrower will, upon demand made by the Agent or such Lender
(such demand to be made promptly by the Agent or such Lender upon the making of any such
determination), at any time and from time to time and as often as the occasion therefor may arise,
pay to such Lender or the Agent such additional amounts as such Lender or the Agent shall determine
in good faith to be sufficient to compensate such Lender or the Agent for such additional cost,
reduction, payment or foregone interest or other sum, provided that such Lender or the Agent is
generally imposing
similar charges on its other similarly situated borrowers. The Agent shall provide the
Borrower with a calculation, in reasonable detail, of such amounts in accordance with its customary
practices.

     §4.6 Capital Adequacy.
If any future law, governmental rule, regulation, policy, guideline or directive
(whether or not having the force of law, but if not having the force of law, then generally
applied by the Lenders with respect to similar loans) or the interpretation thereof by a
court or governmental authority with appropriate jurisdiction affects the amount of capital
required or expected to be maintained by banks or bank holding companies and any Lender or
the Agent determines that the amount of capital required to be maintained by it is
increased by or based upon the existence of Loans made or deemed to be made

37

 

pursuant hereto, then such Lender or the Agent may notify the Borrower of such fact, and the
Borrower shall pay to such Lender or the Agent from time to time, upon demand made by the
Agent or such Lender (such demand to be made promptly by the Agent or such Lender upon the
making of any such determination), as an additional fee payable hereunder, such amount as
such Lender or the Agent shall determine reasonably and in good faith and certify in a
notice to the Borrower to be an amount that will adequately compensate such Lender in light
of these circumstances for its increased costs of maintaining such capital. Each Lender
and the Agent shall allocate such cost increases among its customers in good faith and on
an equitable basis, and will not charge the Borrower unless it is generally imposing a
similar charge on its other similarly situated borrowers. The Agent shall provide the
Borrower with a calculation, in reasonable detail, of such amounts in accordance with its
customary practices.

     §4.7 Certificate; Limitations.
A certificate setting forth any additional amounts payable pursuant to §§4.5 or 4.6
and a brief explanation of such amounts which are due, submitted by any Lender or the Agent
to the Borrower, shall be prima facie evidence that such amounts are due and owing.
Notwithstanding anything to the contrary contained in this Article 4, to the extent
reasonably possible, each Lender shall designate an alternate lending office in the
continental United States to make the Loans in order to reduce any liability of Borrower to
such Lender under §§4.4, 4.5 or 4.6 or to avoid the unavailability of a Libor Rate Loan, so
long as such designation is not disadvantageous to such Lender.

     §4.8 Indemnity.
In addition to the other provisions of this Agreement regarding such matters, the
Borrower agrees to indemnify the Agent and each Lender and to hold the Agent and each
Lender harmless from and against any loss, cost or expense (including loss of anticipated
profits) that the Agent or such Lender may sustain or incur as a consequence of (a) a
default by the Borrower in the payment of any
principal amount of or any interest on any Libor Rate Loans as and when due and
payable, including any such loss or expense arising from interest or fees payable by the
Agent or such Lender to lenders of funds obtained by it in order to maintain its Libor Rate
Loans, (b) the failure by the Borrower to make a borrowing or conversion after the Borrower
has given a Completed Loan Request for a Libor Rate Loan or a Conversion Request for a
Libor Rate Loan, and (c) the making of any payment of a Libor Rate Loan or the making of
any conversion of any such Loan to a Base Rate Loan on a day that is not the last day of
the applicable Interest Period with respect thereto, including interest or fees payable by
the Agent or a Lender to lenders of funds obtained by it in order to maintain any such
Libor Rate Loans.

     §4.9 Interest on Overdue Amounts; Late Charge.
Notwithstanding anything to the contrary stated herein, upon the occurrence and during
the continuance of an Event of Default, at the option of the Majority Lenders, to the
extent permitted by applicable law, the unpaid balance of all Obligations shall bear
interest at the rate otherwise applicable thereto plus 2%, compounded daily until such
Event of Default is cured or waived to the satisfaction of the Agent and

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the required
Lenders. In addition, the Borrower shall pay a late charge equal to five percent (5%) of
any amount of interest charges on the Loans which is not paid within ten (10) days of the
date when due.

     §5. LETTERS OF CREDIT.

     §5.1 Letter of Credit Commitments.

          5.1.1 Commitment to Issue Letters of Credit.
Subject to the terms and conditions set forth in this Agreement, at any time and from time to
time from the Closing Date through the day that is one-hundred twenty (120) days prior to the
Maturity Date, the Fronting Bank shall issue such Letters of Credit as the Borrower may request
upon the delivery of a written request on the Fronting Bank’s customary form as part of a Completed
Loan Request and Availability Certificate (a “Letter of Credit Application”). Subject to the terms
and conditions set forth in this Agreement, the Fronting Bank on behalf of the Lenders and in
reliance upon the agreement of the Lenders set forth in §5.1.4 and upon the representations and
warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend
and renew for the account of the Borrower one or more standby Letters of Credit, in such form as
may be requested from time to time by the Borrower and agreed to by the Fronting Bank; provided,
however, that, after giving effect to such Completed Loan Request, (a) the Maximum Drawing Amount
plus all Reimbursement Obligations (to the extent, if any, not yet deemed a Revolving Credit Loan
pursuant to §5.3), shall not exceed $15,000,000 at any one time and (b) the sum of (i) the Maximum
Drawing Amount and, without double counting, all Reimbursement Obligations (to the extent, if any,
not yet deemed a Revolving Credit Loan pursuant to §5.3) and (ii) the amount of all
Loans outstanding shall not exceed the lesser of (x) the Total Commitment in effect at such
time and (y) the Availability at such time.

          Each Letter of Credit Application shall be executed by an officer of Borrower. The Fronting
Bank shall be entitled to conclusively rely on such Person’s authority to request a Letter of
Credit on behalf of Borrower. The Fronting Bank shall have no duty to verify the authenticity of
any signature appearing on a Letter of Credit Request. The Borrower assumes all risks with respect
to the use of the Letters of Credit. Unless the Fronting Bank and the Majority Lenders otherwise
consent, the term of any Letter of Credit shall not exceed a period of time commencing on the
issuance of the Letter of Credit and ending on the date which is one year thereafter and shall not
expire on a date later than sixty (60) days prior to the Maturity Date (but in any event the term
shall not extend beyond the Maturity Date). As of any applicable date of determination, the amount
available to be drawn under any Letter of Credit shall reduce on a dollar-for-dollar basis the
amount available to be drawn under the Total Commitment as a Loan. Each Letter of Credit
Application shall be submitted to the Fronting Bank at least ten (10) Business Days (or such
shorter period as the Fronting Bank may approve) prior to the date upon which the requested Letter
of Credit is to be issued. Each such Letter of Credit Application shall contain (i) a statement as
to the purpose for which such Letter of Credit shall be used (which purpose shall be in accordance
with the terms of this Agreement), and (ii) a certification by the chief financial or chief
accounting officer of Borrower that

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the Borrower is and will be in compliance with all covenants
under the Loan Documents after giving effect to the issuance of such Letter of Credit. The
Borrower shall further deliver to the Fronting Bank such additional applications and documents as
the Fronting Bank may require, in conformity with the then standard practices of its letter of
credit department, in connection with the issuance of such Letter of Credit; provided that in the
event of any conflict, the terms of this Agreement shall control. The Fronting Bank shall, if it
approves of the content of the Letter of Credit request (which approval shall not be unreasonably
withheld), and subject to the conditions set forth in this Agreement, issue the Letter of Credit on
or before ten (10) Business Days following receipt of the Letter of Credit Application (including
the Completed Loan Request and the Availability Certificate). Each Letter of Credit shall be in
form and substance reasonably satisfactory to the Fronting Bank in its reasonable discretion. Upon
issuance of a Letter of Credit, the Fronting Bank shall provide notice of the issuance of such
Letter of Credit to the Lenders and shall provide a copy of such Letter of Credit to any Lender
that requests a copy. Upon the issuance of a Letter of Credit, each Revolving Credit Lender shall
be deemed to have purchased a participation therein from Fronting Bank in an amount equal to its
respective Commitment Percentage of the amount of such Letter of Credit. No Lender’s obligation to
participate in a Letter of Credit shall be affected by any other Lender’s failure to perform as
required herein with respect to such Letter of Credit or any other Letter of Credit. The issuance
of any supplement, modification, amendment, renewal or extension to or of any Letter of Credit
shall be treated in all respects the same as the issuance of a new Letter of Credit.

          5.1.2 Letter of Credit Applications.
Each Letter of Credit Application shall be completed to the satisfaction of the Agent and the
Fronting Bank.

          5.1.3 Terms of Letters of Credit.
Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (i)
provide for the payment of sight drafts for honor thereunder when presented in accordance with the
terms thereof and when accompanied by the documents described therein, and (ii) without limitation
of §5.1.1, shall have an expiry date no later than one year after its issuance. Each Letter of
Credit so issued, extended or renewed shall be subject to the rules of the ISP.

          5.1.4 Obligations of Lenders with respect to Letters of Credit.
Each Lender severally agrees that it shall be absolutely liable, without regard to the
occurrence of any Default or Event of Default or any other condition precedent whatsoever, to the
extent of such Lender’s Commitment Percentage, to reimburse the Fronting Bank on demand for the
amount of each draft paid by the Fronting Bank under each Letter of Credit (such agreement for a
Lender being called herein the “Letter of Credit Participation” of such Lender). Each such payment
made by a Lender shall be treated as a purchase by such Lender of a participation in the Fronting
Bank’s interest in such Letter of Credit and each Lender shall share, in accordance with its
respective Commitment Percentage, in any interest (but not any fee payable solely for the account
of the Fronting Bank) which accrues and is payable by the Borrower pursuant to §5.2 or otherwise in
connection with such Letter of Credit.

40

 

     §5.2 Reimbursement Obligation of the Borrower.
In order to induce the Fronting Bank to issue, extend and renew each Letter of Credit
and the Lenders to participate therein, the Borrower hereby agrees to reimburse or pay to
the Fronting Bank, for the account of the Fronting Bank or (as the case may be) the
Lenders, with respect to each Letter of Credit issued, extended or renewed by the Fronting
Bank hereunder,

          (a) promptly upon notification by the Fronting Bank or the Agent that any draft
presented under such Letter of Credit is honored by the Fronting Bank, or the Fronting Bank
otherwise makes a payment with respect thereto, (i) the amount paid by the Fronting Bank
under or with respect to such Letter of Credit, and (ii) any amounts payable pursuant to
§5.3 under, or with respect to, such Letter of Credit, and

          (b) upon the termination of the Total Commitment, or the acceleration of the
Reimbursement Obligations with respect to all Letters of Credit in accordance with §14, an
amount equal to the then Maximum Drawing Amount on all Letters of Credit, which amount
shall be held by the Agent in an interest-bearing account (with interest to be added to
such account) as cash collateral for the benefit of the Lenders and the Agent for all
Reimbursement Obligations. Upon the expiration, termination or surrender without draw of
any Letter of Credit, the Agent shall release to the Borrower the cash collateral amount
applicable to such Letter of Credit.

     Each such payment shall be made to the Agent for the benefit of the Fronting Bank or the
Lenders, as applicable, at the Agent’s Head Office in immediately available funds. Interest on any
and all amounts not converted to a Revolving Credit Loan pursuant to §5.3 and remaining unpaid by
the Borrower under this §5.2 at any time from the date such amounts become due and payable (whether
as stated in this §5.2, by acceleration or otherwise) until payment in full (whether before or
after judgment) shall be payable to the Agent for the benefit of the Lenders on demand at the rate
specified in §4.9 for overdue principal on the Loans.

     §5.3 Letter of Credit Payments; Funding of a Loan.
If any draft shall be presented or other demand for payment shall be made under any
Letter of Credit, the Fronting Bank will use its reasonable efforts to notify the Borrower
and the Lenders, on or before the date the Fronting Bank intends to honor such drawing, of
the date and amount of the draft presented or demand for payment and of the date and time
when it expects to pay such draft or honor such demand for payment and, except to the
extent the amount of such draft becomes a Revolving Credit Loan as set forth in this §5.3,
Borrower shall reimburse Agent, as set forth in §5.2. Notwithstanding anything contained
in §5.2 or this §5.3 to the contrary, however, unless Borrower shall have notified the
Agent and Fronting Bank prior to 11:00 a.m. (Cleveland, Ohio time) on the Business Day
immediately prior to the date of such drawing that Borrower intends
to reimburse Fronting Bank for the amount of such drawing with funds other than the
proceeds of Revolving Credit Loans, Borrower shall be deemed to have timely given a
Completed Loan

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Request pursuant to §2.4 to Agent, requesting a Base Rate Loan on the date
on which such drawing is honored and in an amount equal to the amount of such drawing,
which Base Rate Loan will bear interest at the rate otherwise then applicable to Base Rate
Loans hereunder. The Borrower may thereafter convert any such Base Rate Loan to a
Revolving Credit Loan of another Type in accordance with §2.5. Each Lender shall, in
accordance with §2.6, make available such Lender’s Commitment Percentage of such Revolving
Credit Loan to Agent, the proceeds of which shall be applied directly by Agent to reimburse
Fronting Bank for the amount of such draw. In the event that any Lender fails to make
available to Agent the amount of such Lender’s Commitment Percentage of such Revolving
Credit Loan on the date of any drawing, Agent shall be entitled to recover such amount on
demand from such Lender plus any additional amounts payable under §2.6(b) in the event of a
late funding by a Lender. Further, such Lender shall be deemed to have assigned any and
all payments made of principal and interest on its Loans, amounts due with respect to its
participations in Letters of Credit and any other amounts due to it hereunder to the Agent
to fund the amount of any drawn Letter of Credit which such Lender was required to fund
pursuant to this section until such amount has been funded (as a result of such assignment
or otherwise). If after the issuance of a Letter of Credit by the Fronting Bank, but prior
to the funding of any portion thereof by a Lender, one of the events described in §14.1(g)
or (h) shall have occurred or any of the conditions set forth in §13.2 have not been met,
each Lender will, on the date such Revolving Credit Loan would otherwise be required to be
made, purchase an undivided participation interest in the Letter of Credit in an amount
equal to its Commitment Percentage of the amount of such Letter of Credit. Each Lender
will immediately transfer to the Fronting Bank in immediately available funds the amount of
its participation and upon receipt thereof the Fronting Bank will deliver to such Lender a
Letter of Credit participation certificate dated the date of receipt of such funds and in
such amount. The Fronting Bank is irrevocably authorized by the Borrower and each of the
Lenders to honor draws on each Letter of Credit by the beneficiary thereof in accordance
with the terms of such Letter of Credit. The responsibility of the Fronting Bank to the
Borrower and the Lenders shall be only to determine that the documents (including each
draft) delivered under each Letter of Credit in connection with such presentment shall be
in conformity in all material respects with such Letter of Credit in accordance with the
Fronting Bank’s customary practices.

     §5.4 Obligations Absolute.
The obligations of the Borrower to the Lenders under this Agreement with respect to
Letters of Credit shall be absolute, unconditional and irrevocable, and shall be paid and
performed strictly in accordance with the terms of this Agreement, under all circumstances
whatsoever, including, without limitation, the following circumstances: (i) any improper
use which may be made of any Letter of Credit or any improper acts or omissions of any
beneficiary or transferee of any
Letter of Credit in connection therewith; (ii) the existence of any claim, set-off,
defense or any right which the Borrower may have at any time against any beneficiary or any
transferee of any Letter of Credit (or persons or entities for whom any such beneficiary or
any such transferee may

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be acting) or the Lenders (other than the defense of payment to the
Lenders in accordance with the terms of this Agreement) or any other person, whether in
connection with any Letter of Credit, this Agreement, any other Loan Document, or any
unrelated transaction; (iii) any statement or any other documents presented under any
Letter of Credit proving to be insufficient, forged, fraudulent or invalid in any respect
or any statement therein being untrue or inaccurate in any respect whatsoever; (iv) any
breach of any agreement between Borrower and any beneficiary or transferee of any Letter of
Credit; (v) any irregularity in the transaction with respect to which any Letter of Credit
is issued, including any fraud by the beneficiary or any transferee of such Letter of
Credit; (vi) payment by the Fronting Bank under any Letter of Credit against presentation
of a sight draft or a certificate which does not comply with the terms of such Letter of
Credit, provided that such payment shall not have constituted gross negligence or willful
misconduct on the part of the Fronting Bank as determined by a court of competent
jurisdiction after the exhaustion of all applicable appeal periods, and (vii) any other
circumstance or happening whatsoever, whether or not similar to any of the foregoing,
provided that such other circumstances or happenings shall not have been the result of
gross negligence or willful misconduct on the part of the Fronting Bank as determined by a
court of competent jurisdiction after the exhaustion of all applicable appeal periods.
Borrower assumes all risks of the acts, omissions, or misuse of any Letter of Credit by the
beneficiary thereof. Neither Agent, Fronting Bank nor any Lender will be responsible for
(i) the form, validity, sufficiency, accuracy, genuineness or legal effect of any Letter of
Credit or any document submitted by any party in connection with the issuance of any Letter
of Credit, even if such document should in fact prove to be in any or all respects invalid,
insufficient, inaccurate, fraudulent or forged; (ii) the form, validity, sufficiency,
accuracy, genuineness or legal effect of any instrument transferring or assigning or
purporting to transfer or assign any Letter of Credit or the rights or benefits thereunder
or proceeds thereof in whole or in part, which may prove to be invalid or ineffective for
any reason; (iii) failure of any beneficiary of any Letter of Credit to comply fully with
the conditions required in order to demand payment under a Letter of Credit; (iv) errors,
omissions, interruptions or delays in transmission or delivery of any messages, by mail,
cable, telegraph, telex or otherwise; (v) errors in interpretation of technical terms; (vi)
any loss or delay in the transmission or otherwise of any document or draft required by or
from a beneficiary in order to make a disbursement under a Letter of Credit or the proceeds
thereof; (vii) for the misapplication by the beneficiary of any Letter of Credit of the
proceeds of any drawing under such Letter of Credit; and (viii) for any consequences
arising from causes beyond the control of Agent or any Lender. None of the foregoing will
affect, impair or prevent the vesting of any of the rights or powers granted to Agent,
Fronting Bank or the Lenders hereunder. In furtherance and extension and not in limitation
or derogation of any of the foregoing, any act taken or omitted to
be taken by Agent, Fronting Bank or the other Lenders in good faith will be binding on
Borrower and will not put Agent, Fronting Bank or the other Lenders under any resulting
liability to Borrower.

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     §5.5 Reliance by Issuer.
The Fronting Bank and the Agent shall be entitled to rely, and shall be fully
protected in relying upon, any Letter of Credit, draft, writing, resolution, notice,
consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype
message, statement, order or other document believed by it to be genuine and correct and to
have been signed, sent or made by the proper Person or Persons and upon advice and
statements of legal counsel, independent accountants and other experts selected by the
Fronting Bank or the Agent. The Agent and the Fronting Bank shall be fully justified in
failing or refusing to take any action under this §5 (other than the issuance of a Letter
of Credit pursuant to a Letter of Credit Application and otherwise in accordance with the
terms of this Agreement) unless it shall first have received such advice or concurrence of
the Majority Lenders (or such other number or percentage of the Lenders as may be required
by this Agreement) as it reasonably deems appropriate or it shall first be indemnified to
its reasonable satisfaction by the Lenders against any and all liability and expense which
may be incurred by it by reason of taking or continuing to take any such action. The Agent
and any Fronting Bank shall in all cases be fully protected by the Lenders in acting, or in
refraining from acting, under this §5 in accordance with a request of the Majority Lenders
(or such other number or percentage of the Lenders as may be required by this Agreement),
and such request and any action taken or failure to act pursuant thereto shall be binding
upon the Lenders and all future holders of the Notes or of a Letter of Credit
Participation.

     §5.6 Outstanding Letters of Credit.
The Letters of Credit set forth on Schedule 5.6 were issued prior to the
Closing Date pursuant to the Original Credit Agreement and will remain outstanding as of
the Closing Date. The Borrower, the Lenders and the Fronting Bank hereby agree that each
Letter of Credit listed on Schedule 5.6, for all purposes under this Agreement,
shall be deemed to be a Letter of Credit governed by the terms and conditions of this
Agreement.

§6. RECOURSE OBLIGATIONS.
The Obligations are full recourse obligations of the Borrower, and all of the
respective assets and properties of the Borrower shall be available for the payment in full
in cash and performance of the Obligations. The obligations of the Trust under the
Guaranty are full recourse obligations of the Trust, and all of the respective assets and
properties of the Trust shall be available for the payment in full in cash and performance
thereof.

§7. REPRESENTATIONS AND WARRANTIES.
The Borrower and the Trust, on their own behalf and on behalf of their respective
Subsidiaries, jointly and severally represent and warrant to the Agent and the Lenders all
of the statements contained in this §7.

     §7.1 Authority, Etc.

     (a) Organization: Good Standing.

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     (i) FPLP is a limited partnership duly organized, validly
existing and in good standing under the laws of its state of
organization; FPLP has all requisite limited partnership power to own
its properties and conduct its business as now conducted and as
presently contemplated; and FPLP is in good standing as a foreign
entity and is duly authorized to do business in the jurisdictions
where the Eligible Unencumbered Properties owned by it are located
and in each other jurisdiction where such qualification is necessary
except where a failure to be so qualified would not have a materially
adverse effect on its business, operations, assets, condition
(financial or otherwise) or properties. Each Borrower (other than
FPLP) is a limited partnership, general partnership, nominee trust or
limited liability company, as the case may be, duly organized,
validly existing and in good standing under the laws of its state of
organization; each such Borrower has all requisite limited
partnership, general partnership, trust, limited liability company or
corporate, as the case may be, power to own its respective properties
and conduct its respective business as now conducted and as presently
contemplated; and each such Borrower is in good standing as a foreign
entity and is duly authorized to do business in the jurisdictions
where the Eligible Unencumbered Properties owned by it are located
and in each other jurisdiction where such qualification is necessary
except where a failure to be so qualified in such other jurisdiction
would not have a materially adverse effect on the business,
operations, assets, condition (financial or otherwise) or properties
of such Borrower.

     (ii) the Trust is a corporation duly organized, validly existing
and in good standing under the laws of the State of Maryland; each
Subsidiary of the Trust is duly organized, validly existing and in
good standing as a corporation, nominee trust, limited liability
company, limited partnership or general partnership, as the case may
be, under the laws of the state of its organization; the Trust and
each of
its Subsidiaries has all requisite corporate, trust, limited
liability company, limited partnership or general partnership, as the
case may be, power to own its respective properties and conduct its
respective business as now conducted and as presently contemplated;
and the Trust is in good standing as a foreign entity and is duly
authorized to do business in the jurisdictions where such
qualification is necessary, except where a failure to be so qualified
in such other would not have a materially adverse effect on the
business, operations, assets,

45

 

condition (financial or otherwise) or
properties of the Trust or any such Subsidiary.

          (b) Capitalization. The outstanding equity of FPLP is comprised of a general
partner interest and limited partner interests, all of which have been duly issued and are
outstanding and fully paid and non-assessable and, as of the Closing Date, are owned and
held of record by the Persons set forth on Schedule 7.1(b) attached hereto. All of the
issued and outstanding general partner interests of FPLP are owned and held of record by
the Trust. There are no outstanding securities or agreements exchangeable for or
convertible into or carrying any rights to acquire a general partner interest in FPLP.
There are no outstanding commitments, options, warrants, calls or other agreements (whether
written or oral) binding on FPLP or the Trust which require or could require FPLP or the
Trust to sell, grant, transfer, assign, mortgage, pledge or otherwise dispose of any
general partner interest in FPLP. Except as set forth in the Agreement of Limited
Partnership of FPLP, no general partner interests of FPLP are subject to any restrictions
on transfer or any partner agreements, voting agreements, trust deeds, irrevocable proxies;
or any other similar agreements or interests (whether written or oral). For so long as
any Borrower which is a Wholly-owned Subsidiary of FPLP is a Borrower, FPLP owns, directly
or indirectly, 100% (by number of votes or controlling interests) of the outstanding voting
interests and of the economic interests in each such Borrower. All of the issued and
outstanding equity interests of each Borrower other than FPLP are owned and held of record
by the Persons set forth on Schedule 7.1(b) attached hereto, and all of such equity
interests have been duly issued and are outstanding and fully paid and non-assessable.
There are no outstanding securities or agreements exchangeable for or convertible into or
carrying any rights to acquire any equity interests in any Borrower (other than FPLP).
There are no outstanding commitments, options, warrants, calls or other agreements (whether
written or oral) binding on any Borrower (other than FPLP) which require or could require
any Borrower (other than FPLP) to sell, grant, transfer, assign, mortgage, pledge or
otherwise dispose of any equity interest in such Borrower and any such commitments,
options, warrants, calls or other agreements relating to FPLP are set forth on Schedule
7.1(b). Except as disclosed on Schedule 7.1(b) attached hereto, no equity interests of any
Borrower (other than FPLP) are subject to any restrictions on transfer or any partner
agreements, voting agreements, trust deeds, irrevocable proxies; or any other similar
agreements or interests (whether written or oral), and any such restrictions or other
agreements relating to FPLP are set forth on Schedule 7.1(b).
All of the Preferred Equity which exists as of the date of this Agreement, and each of
the agreements or other documents entered into and/or setting forth the terms, rights and
restrictions applicable to any such Preferred Equity, are listed and described on Schedule
7.1(b) attached hereto. All of the agreements and other documents relating to the
Preferred Equity in effect on the Closing Date have been furnished to the Agent.

          (c) Due Authorization. The execution, delivery and performance of this
Agreement and the other Loan Documents to which the

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Borrower or the Trust is or is to
become a party and the transactions contemplated hereby and thereby (i) are within the
authority of the Borrower and the Trust, (ii) have been duly authorized by all necessary
proceedings on the part of the Borrower or the Trust and any general partner thereof, (iii)
do not conflict with or result in any breach or contravention of any provision of law,
statute, rule or regulation to which the Borrower or the Trust is subject or any judgment,
order, writ, injunction, license or permit applicable to the Borrower or the Trust, (iv) do
not conflict with any provision of the Organizational Documents of the Borrower or the
Trust or any general partner thereof, and (v) do not contravene any provisions of, or
constitute Default or Event of Default hereunder or a failure to comply with any term,
condition or provision of, any other agreement, instrument, judgment, order, decree,
permit, license or undertaking binding upon or applicable to the Borrower or the Trust or
any of the Borrower’s or the Trust’s properties (except for any such failure to comply
under any such other agreement, instrument, judgment, order, decree, permit, license, or
undertaking as would not materially and adversely affect the business, operations, assets,
condition (financial or otherwise) or properties of the Trust, FPLP or any other member of
the Potomac Group) or result in the creation of any mortgage, pledge, security interest,
lien, encumbrance or charge upon any of the properties or assets of the Borrower or the
Trust.

          (d) Enforceability. Each of the Loan Documents to which the Borrower or the
Trust is a party has been duly executed and delivered and constitutes the legal, valid and
binding obligations of the Borrower and the Trust, as the case may be, subject only to
applicable bankruptcy, insolvency, reorganization, moratorium or other laws relating to or
affecting generally the enforcement of creditors’ rights.

     §7.2 Governmental Approvals.
The execution, delivery and performance by the Borrower and the Trust of this
Agreement and the other Loan Documents to which the Borrower or the Trust is or is to
become a party and the transactions contemplated hereby and thereby do not require (i) the
approval or consent of any governmental agency or authority other than those already
obtained and delivered to the Agent, or (ii) filing with any governmental agency or
authority, other than filings which will be made with the SEC when and as required by law
or deemed appropriate by the Trust.

     §7.3 Title to Properties; Leases.

          The Borrower and the Trust each has good fee to all of its respective properties, assets and
rights of every name and nature purported to be owned by it, including, without limitation, that:

          (a) The Borrower holds good and clear record and marketable fee simple title to the
Eligible Unencumbered Properties and all assets or properties relating thereto, subject to
no Liens other than Permitted Liens.

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          (b) The Borrower and the Trust will, as of the Closing Date, own all of the assets as
reflected in the financial statements of the Borrower and the Trust described in §7.4, or
acquired since the date of such financial statements (except property and assets sold or
otherwise disposed of in the ordinary course of business since that date).

          (c) Each of the direct or indirect interests of the Borrower in any Partially-Owned
Entity is set forth on Schedule 7.3(c) attached hereto, including the type of entity in
which the interest is held, the percentage interest owned by the Borrower in such entity,
the capacity in which the Borrower holds the interest, and the Borrower’s ownership
interest therein.

     §7.4 Financial Statements.
The Borrower has furnished to each of the Lenders the audited consolidated balance
sheet of the Trust and its Subsidiaries as of December 31, 2008, and the related audited
consolidated statements of income, changes in shareholder’s equity and cash flows for the
year then ended (the “Initial Financials”). The Borrower has also furnished or will
otherwise make available to each of the Lenders the unaudited consolidated balance sheet of
the Trust and its Subsidiaries as of September 30, 2009, and the related unaudited
consolidated statements of income, changes in shareholder’s equity and cash flows for the
three consecutive fiscal quarters then ended (the “Quarterly Financials”). Such Initial
Financials and such Quarterly Financials have been prepared in accordance with GAAP and the
Initial Financials are accompanied by an auditors’ report prepared without qualification by
the Accountants. The Initial Financials and the Quarterly Financials fairly present the
financial condition of the Trust and its Subsidiaries as at the close of business on the
date thereof and the results of operations for the fiscal year (or fiscal quarter, as
applicable) then ended. There are no contingent liabilities of the Trust or any of its
Subsidiaries as of such date known to the officers of the Trust or any of its Subsidiaries
not disclosed in the Initial Financials or the Quarterly Financials.

     §7.5 No Material Changes, Etc.
Since the Financial Statement Date, there has occurred no materially adverse change in
the business, operations, assets, condition (financial or otherwise) or properties of the
Trust, FPLP or any other member of the Potomac
Group. Since the Financial Statement Date and the Closing Date (or, as applicable,
such later date upon which a Real Estate Asset became part of the Unencumbered Pool), there
has been no material adverse change to the Net Operating Income of any Real Estate Asset
that is part of the Unencumbered Pool.

     §7.6 Franchises, Patents, Copyrights, Etc.
The Borrower, the Trust and each of their respective Subsidiaries possess all
franchises, patents, copyrights, trademarks, trade names, licenses and permits, and rights
in respect of the foregoing, adequate for the conduct of their respective businesses
substantially as now conducted without known conflict with any rights of others, except
where the failure to so possess could not reasonably be expected to have a material adverse
effect on the business, operations, assets, condition (financial or otherwise) or

48

 

properties of the Trust, FPLP or any other member of the Potomac Group. The Borrower, the
Trust and each of their respective Subsidiaries possess all material Permits relating to
each of the Unencumbered Assets comprising part of the Unencumbered Pool. FPLP is
pre-approved as a landlord for the United States government by the General Services
Administration as part of the General Services Administration’s Advanced Acquisition
Program (the “AAP Qualification”).

     §7.7 Litigation.
Except as disclosed on Schedule 7.7, there are no actions, suits, proceedings or
investigations of any kind pending or, to the Borrower’s or the Trust’s knowledge,
threatened against the Borrower, the Trust or any of their respective Subsidiaries before
any court, tribunal or administrative agency or board that, if adversely determined, could
reasonably be expected to, either individually or in the aggregate, materially adversely
affect the business, operations, assets, condition (financial or otherwise) or properties
of the Trust, FPLP or any other member of the Potomac Group, or materially impair the right
of the Trust, FPLP or any other member of the Potomac Group, to carry on its businesses
substantially as now conducted by it, or result in any substantial liability not fully
covered by insurance, or for which adequate reserves are not maintained, as reflected in
the applicable consolidated financial statements or SEC Filings of the Borrower and the
Trust, or which question the validity of this Agreement or any of the other Loan Documents,
or any action taken or to be taken pursuant hereto or thereto.

     §7.8 No Materially Adverse Contracts, Etc.
Neither the Borrower, the Trust nor any of their respective Subsidiaries is subject
to any charter, corporate, partnership or other legal restriction, or any judgment, decree,
order, rule or regulation that has or could reasonably expected in the future to have a
materially adverse effect on the business, operations, assets, condition (financial or
otherwise) or properties of the Trust, FPLP or any other member of the Potomac Group. None
of the Borrower, the Trust or any of their
respective Subsidiaries is a party to any contract or agreement that has had, or could
reasonably be expected to have, any materially adverse effect on the business, operations,
assets, condition (financial or otherwise) or properties of the Trust, FPLP or any other
member of the Potomac Group.

     §7.9 Compliance With Other Instruments, Laws, Etc.
Neither the Borrower, the Trust nor any of their respective Subsidiaries is in
violation of any provision of its partnership agreement, charter or other Organizational
Document, as the case may be, or any agreement or instrument to which it may be subject or
by which it or any of its properties may be bound or any decree, order, judgment, statute,
license, rule or regulation, in any of the foregoing cases in a manner that could
reasonably be expected to result, individually or in the aggregate, in the imposition of
substantial penalties or materially and adversely affect the business, operations, assets,
condition (financial or otherwise) or properties of the Trust, FPLP or any other member of
the Potomac Group.

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     §7.10 Tax Status.
(i) Each of the Borrower, the Trust and their respective Subsidiaries (a) has made or
filed all federal, state and local income and all other tax returns, reports and
declarations required by any jurisdiction to which it is subject, (b) has paid all taxes
and other governmental assessments and charges shown or determined to be due on such
returns, reports and declarations, except those being contested in good faith and by
appropriate proceedings, and (c) has set aside on its books provisions reasonably adequate
for the payment of all taxes for periods subsequent to the periods to which such returns,
reports or declarations apply, and (ii) there are no unpaid taxes claimed to be due by the
taxing authority of any jurisdiction, and the respective officers of the Borrower and the
Trust and their respective Subsidiaries know of no basis for any such claim.

     §7.11 No Event of Default.
No Default or Event of Default has occurred and is continuing.

     §7.12 Investment Company Acts.
None of the Borrower, the Trust or any of their respective Subsidiaries is an
“investment company”, or an “affiliated company” or a “principal underwriter” of an
“investment company”, as such terms are defined in the Investment Company Act of 1940.

     §7.13 Name; Jurisdiction of Organization; Absence of UCC Financing Statements,
Etc.
The exact legal name of the Borrower and the Trust, and their respective jurisdictions
of organization, are set forth on Schedule 7.13 attached hereto.
Except for Permitted Liens, there is no financing statement, security agreement,
chattel mortgage, real estate mortgage, equipment lease, financing lease, option,
encumbrance or other document filed or recorded with any filing records, registry, or other
public office, that purports to cover, affect or give notice of any present or possible
future lien or encumbrance on, or security interest in, any Eligible Unencumbered Property.
Neither the Borrower nor the Trust has pledged or granted any lien on or security interest
in or otherwise encumbered or transferred any of their respective interests in any
Subsidiary (including in the case of the Trust, its interests in FPLP).

     §7.14 Absence of Liens.
The Borrower is the owner of the Eligible Unencumbered Properties free from any Lien,
except for Permitted Liens.

     §7.15 Certain Transactions.
Except as set forth on Schedule 7.15, none of the officers, partners, directors, or
employees of the Trust, the Borrower or any of their Subsidiaries is presently a party to
any transaction with the Borrower, the Trust or any of their respective Subsidiaries (other
than for services as employees, officers and directors), including any contract, agreement
or other arrangement providing for the furnishing of services to or by, providing for
rental of real or personal property to or from, or otherwise requiring payments to or from
any officer, partner, director or such employee or, to the knowledge of the Borrower or the
Trust, any corporation, partnership, trust or other entity in which any officer, partner,
director, or any such employee or natural Person related to such

50

 

officer, partner, director
or employee or other Person in which such officer, partner, director or employee has a
direct or indirect beneficial interest has a substantial interest or is an officer,
director, trustee or partner.

     §7.16 Employee Benefit Plans; Multiemployer Plans; Guaranteed Pension Plans.
Except as disclosed in the SEC Filings or on Schedule 7.16, none of the Borrower, the
Trust nor any ERISA Affiliate maintains or contributes to any Employee Benefit Plan,
Multiemployer Plan or Guaranteed Pension Plan.

     §7.17 Regulations U and X.
No portion of any Loan is to be used, and no portion of any Letter of Credit is to be
obtained, for the purpose of purchasing or carrying any “margin security” or “margin stock”
as such terms are used in Regulations U and X of the Board of Governors of the Federal
Reserve System, 12 C.F.R. Parts 221 and 224.

     §7.18 Environmental Compliance.
The Borrower has caused Phase I and other environmental assessments or similar
assessments (collectively, the “Environmental Reports”) to be conducted to investigate the
past and present environmental condition and usage of the Real Estate Assets, true and
complete copies of which have been delivered to the Agent. To the Borrower’s knowledge,
except as otherwise expressly specified in the Environmental Reports, the Borrower makes
the following representations and warranties:

          (a) None of the Borrower, its Subsidiaries, the Trust or any operator of the Real
Estate Assets or any portion thereof, or any operations thereon is in violation, or alleged
violation, of any judgment, decree, order, law, license, rule or regulation pertaining to
environmental matters, including without limitation, those arising under the Resource
Conservation and Recovery Act (“RCRA”), the Comprehensive Environmental Response,
Compensation and Liability Act of 1980 as amended (“CERCLA”), the Superfund Amendments and
Reauthorization Act of 1986 (“SARA”), the Federal Clean Water Act, the Federal Clean Air
Act, the Toxic Substances Control Act, or any state or local statute, regulation,
ordinance, order or decree relating to health, safety or the environment (hereinafter
“Environmental Laws”), which violation or alleged violation has, or its remediation would
have, by itself or when aggregated with all such other violations or alleged violations, a
material adverse effect on the business, operations, assets, condition (financial or
otherwise), properties or prospects of the Trust, FPLP or any other member of the Potomac
Group, or constitutes a Disqualifying Environmental Event with respect to any of the
Eligible Unencumbered Properties.

          (b) None of the Borrower, the Trust or any of their respective Subsidiaries has
received written notice from any third party, including, without limitation, any federal,
state or local governmental authority, (i) that it has been identified by the United States
Environmental Protection Agency (“EPA) as a potentially responsible party under CERCLA with
respect to a site listed on the National Priorities List, 40 C.F.R. Part 300 Appendix B
(1986), (ii) that any

51

 

hazardous waste, as defined by 42 U.S.C. § 9601(5), any hazardous
substances as defined by 42 U.S.C. § 9601(14), any pollutant or contaminant as defined by
42 U.S.C. §9601(33) or any toxic substances, oil or hazardous materials or other chemicals
or substances regulated by any Environmental Laws (“Hazardous Substances”) which it has
generated, transported or disposed of have been found at any site at which a federal, state
or local agency or other third party has conducted or has ordered that the Borrower, the
Trust or any of their respective Subsidiaries conduct a remedial investigation, removal or
other response action pursuant to any Environmental Law, or (iii) that it is or shall be a
named party to any claim, action, cause of action, complaint, or legal or administrative
proceeding (in each case, contingent or otherwise) arising out of any third party’s
incurrence of costs, expenses, losses or damages of any kind whatsoever in connection with
the release of Hazardous Substances, which event described in any such notice would have a
material adverse effect on the business, operations, assets, condition (financial or
otherwise), properties or prospects of the Trust,
FPLP or any other member of the Potomac Group, or constitutes a Disqualifying
Environmental Event with respect to any of the Eligible Unencumbered Properties.

          (c) (i) No portion of the Real Estate Assets has been used for the handling,
processing, storage or disposal of Hazardous Substances except in accordance with
applicable Environmental Laws; and no underground tank or other underground storage
receptacle for Hazardous Substances is located on any portion of any Real Estate Assets
except in accordance with applicable Environmental Laws, (ii) in the course of any
activities conducted by the Borrower, the Trust, their respective Subsidiaries or the
operators of their respective properties or any ground or space tenants on any Real Estate
Asset, no Hazardous Substances have been generated or are being used on such Real Estate
Asset except in accordance with applicable Environmental Laws, (iii) there has been no
present or past releasing, spilling, leaking, pumping, pouring, emitting, emptying,
discharging, injecting, escaping, disposing or dumping (a “Release”) or threatened Release
of Hazardous Substances on, upon, into or from the Real Estate Assets in violation of
applicable Environmental Laws, (iv) there have been no Releases in violation of applicable
Environmental Laws upon, from or into any real property in the vicinity of any of the Real
Estate Assets which, through soil or groundwater contamination, may have come to be located
on such Real Estate Asset, and (v) to the best of Borrower’s Knowledge, any Hazardous
Substances that have been generated on any of the Real Estate Assets during ownership
thereof by the Borrower, the Trust, their respective Subsidiaries or the operations of
their respective properties have been transported off-site only in compliance with all
applicable Environmental Laws; any of which events described in clauses (i) through (v)
above would have a material adverse effect on the business, operations, assets, condition
(financial or otherwise), properties or prospects of the Trust, FPLP or any other member of
the Potomac Group, or constitutes a Disqualifying Environmental Event with respect to any
of the Eligible Unencumbered Properties.

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          (d) None of the Borrower, the Trust or any of the Real Estate Assets is subject to any
applicable Environmental Law requiring the performance of Hazardous Substances site
assessments, or the removal or remediation of Hazardous Substances, or the giving of notice
to any governmental agency or the recording or delivery to other Persons of an
environmental disclosure document or statement, by virtue of the transactions set forth
herein and contemplated hereby, or as a condition to the effectiveness of any other
transactions contemplated hereby.

     §7.19 Subsidiaries.
Schedule 7.19 sets forth, as of the Closing Date, all of the respective Subsidiaries
of FPLP, each other Borrower and the Trust, together with the exact legal name of each of
such entities (including the Trust) and the tax identification number of each of such
entities (including the Trust).

     §7.20 Loan Documents.
All of the representations and warranties by or on behalf of the Borrower and the
Trust and their respective Subsidiaries made in this Agreement and in the other Loan
Documents or any document or instrument delivered to the Agent or the Lenders pursuant to
or in connection with any of such Loan Documents are true and correct in all material
respects and do not include any untrue statement of a material fact or omit to state a
material fact required to be stated or necessary to make such representations and
warranties not materially misleading.

     §7.21 REIT Status.
The Trust has not taken any action that would prevent it from maintaining its
qualification as a REIT for its tax years ending December 31, 2003 through December 31,
2008, or from maintaining such qualification at all times during the term of this
Agreement.

     §7.22 Anti-Terrorism Regulations.

          (a) General. Neither the Borrower, the Trust nor any Affiliate thereof is in
violation of any Anti-Terrorism Law or engages in or conspires to engage in any transaction
that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate,
any of the prohibitions set forth in any Anti-Terrorism Law.

          (b) Executive Order No. 13224. Neither Borrower, the Trust nor any Affiliate
thereof is any of the following (each a “Blocked Person”):

     (i) a Person that is listed in the annex to, or is otherwise
subject to the provisions of, Executive Order No. 13224;

     (ii) a Person owned or controlled by, or acting for or on behalf
of, any Person that is listed in the annex to, or is otherwise
subject to the provisions of, Executive Order No. 13224;

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     (iii) a Person or entity with which any Lender is prohibited
from dealing or otherwise engaging in any transaction by any
Anti-Terrorism Law;

     (iv) a Person or entity that commits, threatens or conspires to
commit or supports “terrorism” as defined in Executive Order No.
13224;

     (v) a Person or entity that is named as a “specially designated
national” on the most current list published by the U.S. Treasury
Department Office of Foreign
Asset Control at its official website or any replacement website
or other replacement official publication of such list; or

     (vi) a person or entity who is affiliated or associated with a
person or entity listed above.

          (c) Neither Borrower, the Trust nor any Affiliate thereof (i) conducts any business or
engages in making or receiving any contribution of funds, goods or services to or for the
benefit of any Blocked Person, or (ii) deals in, or otherwise engages in any transaction
relating to, any property or interests in property blocked pursuant to Executive Order No.
13224.

          (d) Neither Borrower, the Trust nor any Affiliate thereof are a “Special Designated
National” or “Blocked Person” as those terms are defined in the office of Foreign Asset
Control Regulations (31 C.F.R. § 500 et. seq.).

§8. AFFIRMATIVE COVENANTS OF THE BORROWER AND THE TRUST.
The Borrower and the Trust, on their own behalf and on behalf of their respective
Subsidiaries, jointly and severally covenant and agree that:

     §8.1 Punctual Payment.
The Borrower will duly and punctually pay or cause to be paid the principal and
interest on the Loans and all interest, fees, charges and other amounts and Obligations
provided for in this Agreement and the other Loan Documents, all in accordance with the
terms of this Agreement, the Notes and the other Loan Documents.

     §8.2 Maintenance of Office; Jurisdiction of Organization, Etc..
Each of the Borrower and the Trust will maintain its chief executive office in
Bethesda, Maryland, or at such other place in the United States of America as each of them
shall designate by written notice to the Agent to be delivered at least thirty (30) days
prior to any change of chief executive office, where, subject to §21, notices,
presentations and demands to or upon the Borrower and the Trust in respect of the Loan
Documents may be given or made. Neither the Trust nor the Borrower will change its
jurisdiction of organization, name or corporate structure without giving the Agent at least
thirty (30) days prior written notice of such change, and, in the

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case of a change in
corporate structure, without the prior written consent of the Agent, which consent may not
be unreasonably withheld.

     §8.3 Records and Accounts.
Each of the Borrower and the Trust will (a) keep, and cause each of its Subsidiaries
to keep, true and accurate records and books of account in which full, true and correct
entries will be made in accordance with GAAP and (b) maintain adequate accounts and
reserves for all taxes (including income taxes), contingencies, depreciation and
amortization of its properties and the properties of its Subsidiaries.

     §8.4 Financial Statements, Certificates and Information.
The Borrower and the Trust will deliver to the Agent:

          (a) as soon as practicable, but in any event not later than ninety (90) days after the
end of each fiscal year of the Trust, the audited consolidated balance sheet of the Trust
and its Subsidiaries at the end of such year, and the related audited consolidated
statements of income, changes in shareholder’s equity and cash flows for the year then
ended, in each case, setting forth in comparative form the figures as of the end of and for
the previous fiscal year and all such statements to be in reasonable detail, prepared in
accordance with GAAP (which may be provided by inclusion in the Form 10-K of the Trust
filed with the SEC for such period and delivered to the Agent), and, in each case,
accompanied by an auditor’s report prepared without qualification by the Accountants (and
the Borrower also shall deliver the foregoing for FPLP on a consolidated basis); together
with (i) a certification by the principal financial or accounting officer of the Borrower
and the Trust that the information contained in such financial statements fairly presents
the financial position of the Trust and its Subsidiaries on the date thereof (which may be
provided by inclusion in the Form 10-K of the Trust filed with the SEC for such period and
delivered to the Agent) and (ii) a written statement from such Accountants to the effect
that they have read a copy of this Agreement, and that, in making the examination necessary
to said certification, they have obtained no knowledge of any Default or Event of Default
under §10 or otherwise under the provisions of this Agreement relating to the financial
condition of the Trust or any of its Subsidiaries, or of any facts or circumstances that
would cause the Trust not to continue to qualify as a REIT for federal income tax purposes,
or, if such Accountants shall have obtained knowledge of any then existing Default, Event
of Default or such facts or circumstances, they shall make disclosure thereof in such
statement;

          (b) as soon as practicable, but in any event not later than forty-five (45) days after
the end of each of its March 31, June 30 and September 30 fiscal quarters, copies of the
unaudited consolidated balance sheet of the Trust and its Subsidiaries, as at the end of
such quarter, and the related unaudited consolidated statements of income, changes in
shareholders’ equity and cash flows for the portion of the Trust’s fiscal year then
elapsed, all in reasonable detail and prepared in accordance with GAAP (which may be
provided by inclusion in the Form 10-Q of the Trust filed with the SEC for such period and
delivered to the

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Agent), together with a certification by the principal financial or
accounting officer of the Borrower and the Trust that the information contained in such
financial statements fairly presents the financial position of the Trust and its
Subsidiaries on the date thereof (which may be provided by inclusion in the Form 10-Q of
the Trust filed with the SEC for such period and delivered to the Agent) (subject to
year-end adjustments none of which shall be materially adverse and the absence of
footnotes) (and the Borrower also shall deliver the foregoing for FPLP on a consolidated
basis);

          (c) as soon as practicable, but in any event not later than ninety (90) days after the
end of each of its fiscal years, a rent roll and operating statement in respect of each
Eligible Unencumbered Property, certified by the chief financial or accounting officer of
the Borrower as true and correct;

          (d) as soon as practicable, but in any event not later than forty-five (45) days after
the end of each of the fiscal quarters of the Borrower, a rent roll and operating statement
in respect of each Eligible Unencumbered Property, certified by the chief financial or
accounting officer of the Borrower as true and correct;

          (e) simultaneously with the delivery of the financial statements referred to in
subsections (a) and (b) above, a statement in the form of Exhibit C-2 hereto signed by the
chief financial or accounting officer of the Borrower, and setting forth in reasonable
detail computations evidencing compliance with the covenants contained in §10;

          (f) promptly as they become available, a copy of each report submitted to the
Borrower, the Trust or any of their respective subsidiaries by the Accountants in
connection with each annual audit of the books of the Borrower, the Trust or such
Subsidiary by such Accountants or in connection with any interim audit thereof pertaining
to any phase of the business of the Borrower, the Trust or any such Subsidiary;

          (g) contemporaneously with (or promptly after) the filing or mailing thereof, copies
of all material of a financial nature sent to the holders of any Indebtedness of the
Borrower (other than the Loans) for borrowed money, to the extent that the information or
disclosure contained in such material refers to or could reasonably be expected to have a
material adverse effect on the business, operations, assets, condition (financial or
otherwise) or properties of the Trust, FPLP or any other member of the Potomac Group;

          (h) contemporaneously with the filing or mailing thereof, copies of all material of a
financial nature filed with the SEC or sent to the stockholders of the Trust;

          (i) unless delivered pursuant to clauses (a) or (b) above, as applicable, as soon as
practicable, but in any event not later than ninety (90) days

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after the end of each fiscal
year of the Trust, copies of the Form 10-K statement filed by the Trust with the SEC for
such fiscal year, and as soon as practicable, but
in any event not later than fifty (50) days after the end of each fiscal quarter of
the Trust copies of the Form 10-Q statement filed by the Trust with the SEC for such fiscal
quarter, provided that, in either case, if the SEC has granted an extension for the filing
of such statements, the Trust shall deliver such statements to the Agent within ten (10)
days after the filing thereof with the SEC;

          (j) in the case of the Borrower and the Trust, as soon as practicable, but in any
event not later than thirty (30) days prior to the end of each of their respective fiscal
years, a business plan for the next fiscal year (including pro forma projections for such
period);

          (k) if requested by the Agent, a certification by the chief financial or accounting
officer of the Borrower of the state and federal taxable income of the Trust and its
Subsidiaries as of the end of any applicable fiscal year;

          (l) [Reserved]; and

          (m) from time to time such other financial data and other information about the
Borrower, the Trust, their respective Subsidiaries, the Real Estate Assets and the
Partially-Owned Entities as the Agent or any Lender (through the Agent) may reasonably
request. Without limitation of the foregoing, at the request of the Agent, the Borrower
will deliver to the Agent information relating to (i) the determination of the existence or
absence of a Disqualifying Environmental Event or a Disqualifying Structural Event, (ii)
title to any Eligible Unencumbered Property and (iii) insurance coverage.

     §8.5 Notices.

          (a) Defaults. The Borrower and the Trust will, promptly after obtaining
knowledge of the same, notify the Agent in writing (with copies to the Agent for each
Lender) of the occurrence of any Default or Event of Default. If any Person shall give any
notice or take any other action in respect of (x) a claimed Default (whether or not
constituting an Event of Default) under this Agreement or (y) a claimed failure by the
Borrower, the Trust or any of their respective Subsidiaries, as applicable, to comply with
any term, condition or provision of or under any note, evidence of Indebtedness, indenture
or other obligation in excess of $20,000,000, individually or in the aggregate, in respect
of Indebtedness that is Without Recourse and in excess of $2,000,000, individually or in
the aggregate, in respect of Indebtedness that is Recourse, to which or with respect to
which any of them is a party or obligor, whether as principal or surety, and such failure
to comply would permit the holder of such note or obligation or other evidence of
Indebtedness to accelerate the maturity thereof, the Borrower shall forthwith give written
notice thereof to the Agent and each of the Lenders, describing the notice or action and
the nature of the claimed failure to comply.

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          (b) Environmental Events. The Borrower and the Trust will promptly give
notice in writing to the Agent (with copies to the Agent for each
Lender) (i) upon Borrower’s or the Trust’s obtaining knowledge of any material
violation (as determined by the Borrower or the Trust in the exercise of its reasonable
discretion) of any Environmental Law regarding any Real Estate Asset or Borrower’s or the
Trust’s operations, (ii) upon Borrower’s or the Trust’s obtaining knowledge of any known
Release of any Hazardous Substance at, from, or into any Real Estate Asset which it reports
in writing or is reportable by it in writing to any governmental authority and which is
material in amount or nature or which could materially affect the value of such Real Estate
Asset, (iii) upon Borrower’s or the Trust’s receipt of any notice of material violation of
any Environmental Laws or of any material Release of Hazardous Substances in violation of
any Environmental Laws or any matter that may be a Disqualifying Environmental Event with
respect to any of the Eligible Unencumbered Properties, including a notice or claim of
liability or potential responsibility from any third party (including without limitation
any federal, state or local governmental officials) and including notice of any formal
inquiry, proceeding, demand, investigation or other action with regard to (A) Borrower’s or
the Trust’s or any other Person’s operation of any Real Estate Asset, (B) contamination on,
from or into any Real Estate Asset, or (C) investigation or remediation of off-site
locations at which Borrower or the Trust or any of its predecessors are alleged to have
directly or indirectly disposed of Hazardous Substances, or (iv) upon Borrower’s or the
Trust’s obtaining knowledge that any expense or loss has been incurred by such governmental
authority in connection with the assessment, containment, removal or remediation of any
Hazardous Substances with respect to which Borrower or the Trust or any Partially-Owned
Entity may be liable or for which a lien may be imposed on any Real Estate Asset.

          (c) Notification of Claims against Eligible Unencumbered Properties. The
Borrower will, and will cause each Subsidiary to, promptly upon becoming aware thereof,
notify the Agent in writing (with copies to the Agent for each Lender) of any setoff,
claims, withholdings or other defenses to which any of the Eligible Unencumbered Properties
are subject, which (i) could reasonably be expected to have a material adverse effect on
(x) the business, operations, assets, condition (financial or otherwise), properties or
prospects of the Trust, FPLP or any other member of the Potomac Group, or (y) the value of
any such Eligible Unencumbered Property, or (ii) with respect to such Eligible Unencumbered
Property, constitute a Disqualifying Environmental Event, a Disqualifying Structural Event
or a Lien subject to the bonding or insurance requirement of §9.2(vii).

          (d) Notice of Litigation and Judgments. The Borrower and the Trust will give
notice to the Agent in writing (with copies to the Agent for each Lender) within three (3)
days of becoming aware of any litigation or proceedings threatened in writing or any
pending litigation and proceedings an adverse determination in which could materially
adversely affect FPLP, the Trust or any member of the Potomac Group, or any Eligible
Unencumbered Property or to

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which the Borrower, the Trust or any of their respective
Subsidiaries is or is to become a party involving a claim against the Borrower, the Trust
or any of their
respective Subsidiaries that could reasonably be expected to have a materially adverse
effect on the respective business, operations, assets, condition (financial or otherwise)
or properties of the Trust, FPLP or any other member of the Potomac Group or on the value
or operation of the Eligible Unencumbered Properties and stating the nature and status of
such litigation or proceedings. The Borrower and the Trust will give notice to the Agent
and each of the Lenders, in writing, in form and detail reasonably satisfactory to the
Agent, within three (3) days of any judgment not covered by insurance, final or otherwise,
against the Borrower, the Trust or any of such Subsidiaries in an amount in excess of
$1,000,000.

     §8.6 Existence of Borrower; Maintenance of Properties.
The Borrower and the Trust will do or cause to be done all things necessary to, and
shall, preserve and keep in full force and effect its respective existence in its
jurisdiction of organization and will do or cause to be done all things necessary to
preserve and keep in full force all of its respective rights and franchises and those of
its respective Subsidiaries which may be necessary to properly and advantageously conduct
the businesses conducted by it. The Borrower (a) will cause all necessary repairs,
renewals, replacements, betterments and improvements to be made to all Real Estate Assets
owned or controlled by it, all as in the judgment of the Borrower may be necessary so that
the business carried on in connection therewith may be properly and advantageously
conducted at all times, subject to the terms of the applicable Leases and partnership
agreements or other entity charter documents, and in any event, will keep all of the Real
Estate Assets (for so long as such Real Estate Assets are owned by the Borrower or any of
its Subsidiaries) in a condition consistent with the Real Estate Assets currently owned or
controlled by the Borrower or its Subsidiaries, (b) will cause all of its other properties
and those of its Subsidiaries (to the extent controlled by the Borrower) used or useful in
the conduct of its business or the business of its Subsidiaries to be maintained and kept
in good condition, repair and working order and supplied with all necessary equipment, (c)
will not permit the Trust to directly own or lease any Real Estate Asset, and (d) will, and
will cause each of its Subsidiaries to continue to engage primarily in the businesses now
conducted by it and in related businesses, all of the foregoing to the extent necessary to
comply with the other terms and conditions set forth in this Agreement, and in the case of
clauses (a) and (b) above. Without limitation of the foregoing, the business in which the
Borrower and its Subsidiaries are engaged will be limited to the acquisition, development,
ownership and operation of income-producing office, industrial and flex properties in the
Mid-Atlantic United States and any business activities and Investments permitted under §9.3
incidental thereto.

     §8.7 Existence of the Trust; Maintenance of REIT Status of the Trust; Maintenance
of Properties.
The Trust will do or cause to be done all things necessary to preserve and keep in
full force and effect the Trust’s existence as a Maryland corporation. The Trust will at
all times (i) maintain its status as a REIT

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and not take any action which could lead to its
disqualification as a REIT and (ii) continue to operate as a self-directed and
self-administered REIT and be listed on a nationally-recognized stock exchange. The Trust
will not engage in any business other than the business of acting as a REIT and serving as
the general partner and limited partner of the Borrower and matters directly relating
thereto, and shall (x) conduct all or substantially all of its business operations through
the Borrower or through subsidiary partnerships or other entities in which the Borrower
owns 100% of the economic interests and (y) own no real property or material personal
property other than through its ownership interests in the Borrower. The Trust will (a)
cause all of its properties and those of its Subsidiaries used or useful in the conduct of
its business or the business of its Subsidiaries to be maintained and kept in good
condition, repair and working order, and supplied with all necessary equipment, (b) cause
to be made all necessary repairs, renewals, replacements, betterments and improvements
thereof, all as in the judgment of the Trust may be necessary so that the business carried
on in connection therewith may be properly and advantageously conducted at all times and
(c) cause each of its Subsidiaries to continue to engage primarily in the businesses now
conducted by it and in related businesses, in each case under clauses (a), (b) and (c)
above to the extent, in the good faith judgment of the Trust, necessary to properly and
advantageously conduct the businesses being conducted by it.

     §8.8 Insurance.
The Borrower and the Trust will maintain with respect to their other properties, and
will cause each of its Subsidiaries to maintain, with financially sound and reputable
insurers, insurance with respect to such properties and its business against such
casualties and contingencies as shall be in accordance with the general practices of
businesses engaged in similar activities in similar geographic areas and in amounts,
containing such terms, in such forms and for such periods as may be reasonable and prudent.

     §8.9 Taxes.
The Borrower will, and will cause the Trust and each of their respective Subsidiaries
to, pay or cause to be paid real estate taxes, other taxes, assessments and other
governmental charges against the Real Estate Assets before the same become delinquent and
will duly pay and discharge, or cause to be paid and discharged, before the same shall
become overdue, all taxes, assessments and other governmental charges imposed upon its
sales and activities, or any part thereof, or upon the income or profits therefrom, as well
as all claims for labor, materials, or supplies that if unpaid might by law become a lien
or charge upon any of the Real Estate Assets; provided that any such tax, assessment,
charge, levy or claim need not be paid if the validity or amount thereof shall currently be
contested in good faith by appropriate proceedings and if the Borrower or the
Trust shall have set aside on its books adequate reserves with respect thereto; and
provided further that the Borrower or the Trust will pay all such taxes, assessments,
charges, levies or claims forthwith prior to the consummation of proceedings to foreclose
any lien that may have attached as security therefor. Promptly upon request by the Agent
if required for bank regulatory compliance purposes or similar bank purposes, the Borrower
will provide evidence of the payment of real estate taxes, other taxes, assessments and

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other governmental charges against the Real Estate Assets in the form of receipted tax
bills or other form reasonably acceptable to the Agent, or evidence of the existence of
applicable contests as contemplated herein.

     §8.10 Inspection of Properties and Books.
(a) Subject to the rights of tenants to limit or prohibit such access, as denoted in
the applicable Leases, the Borrower and the Trust will permit the Agent or any of its
designated representatives upon reasonable notice (which notice may be given orally or in
writing and provided that no notice shall be required if a Default or Event of Default has
occurred and is continuing), to visit and inspect any of the properties of the Borrower,
the Trust or any of their respective Subsidiaries to examine the books of account of the
Borrower, the Trust and their respective Subsidiaries (and to make copies thereof and
extracts therefrom) and to discuss the affairs, finances and accounts of the Borrower, the
Trust and their respective Subsidiaries with, and to be advised as to the same by, its
officers, all at such reasonable times and intervals as the Agent may reasonably request.

          (b) The Borrower hereby agrees that each of the Lenders and the Agent (and each of
their respective, and their respective affiliates’, employees, officers, directors, agents
and advisors (collectively, “Representatives”) is, and has been from the commencement of
discussions with respect to the facility established by the Agreement (the “Facility”),
permitted to disclose to any and all Persons, without limitation of any kind, the structure
and tax aspects (as such terms are used in Code sections 6011 and 6111) of the Facility,
and all materials of any kind (including opinions or other tax analyses) that are or have
been provided to such Lender or the Agent related to such structure and tax aspects. In
this regard, the Lenders and the Agent intend that this transaction will not be a
“confidential transaction” under Code sections 6011, 6111 or 6112, and the regulations
promulgated thereunder. Neither Borrower, any Guarantor, nor any Subsidiary of any of the
foregoing intends to treat the Loan or the transactions contemplated by this Agreement and
the other Loan Documents as being a “reportable transaction” (within the meaning of
Treasury Regulation Section 1.6011-4). If the Borrower or the Guarantor determines to take
any action inconsistent with such intention, the Borrower will promptly notify the Agent
thereof. If the Borrower so notifies the Agent, the Borrower acknowledges that the Agent
may treat the Loan as part of a transaction that is subject to Treasury Regulation Section
301.6112-1, and the Agent will maintain the lists and other
records, including the identity of the applicable party to the Loan as required by
such Treasury Regulation.

          (c) The Borrower hereby acknowledges that (a) the Agent and/or the Arranger will make
available to the Lenders and the Fronting Bank materials and/or information provided by the
Borrower hereunder by posting such materials on SyndTrak or another similar electronic
system (the “Platform”) and (b) certain of the Lenders may be “public-side” Lenders (i.e.,
Lenders that do not wish to receive material non-public information with respect to the
Borrower or its securities) (each, a “Public Lender”). The Borrower hereby agrees that (w)
all

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such materials that are to be made available to Public Lenders shall be clearly and
conspicuously marked “PUBLIC” by Borrower which, at a minimum, shall mean that the word
“PUBLIC” shall appear prominently on the first page thereof; (x) by marking such materials
“PUBLIC,” the Borrower shall be deemed to have authorized the Agent, the Arranger, the
Fronting Bank and the Lenders to treat such materials as not containing any material
non-public information with respect to the Borrower or its securities for purposes of
United States Federal and state securities laws; (y) all such materials marked “PUBLIC” by
Borrower are permitted to be made available through a portion of the Platform designated
“Public Investor;” and (z) the Agent and the Arranger shall be entitled to treat any such
materials that are not marked “PUBLIC” as being suitable only for posting on a portion of
the Platform established for confidential non-public information and materials with respect
to Borrower or its securities and not designated “Public Investor.” Notwithstanding the
foregoing, Borrower shall be under no obligation to mark any such materials “PUBLIC.” In
addition, Agent, Arranger, the Fronting Bank and the Lenders all agree to maintain all such
materials (other than any such materials as are marked “PUBLIC”) in confidence and further
agree that they shall not make any such materials available to any other Person (including,
without limitation, other proposed Lenders and/or participants) unless and until such other
Person agrees in writing to maintain such materials in confidence consistent with the terms
hereof.

     §8.11 Compliance with Laws, Contracts, Licenses, and Permits.
The Borrower and the Trust will comply with, and will cause each of their respective
Subsidiaries to comply with (a) all applicable laws and regulations now or hereafter in
effect wherever its business is conducted that are material in any respect to the operation
of their respective businesses in the ordinary course and consistent with past practices,
including, without limitation, all such Environmental Laws and all such applicable federal
and state securities laws, (b) the provisions of its partnership agreement or corporate
charter and other Organizational Documents, as applicable, (c) all material agreements and
instruments to which it is a party or by which it or any of its properties may be bound
(including the Real Estate Assets and the Leases) and (d) all applicable decrees, orders,
and judgments. If at any time while any Loan or Note or other Obligations is outstanding
or the Lenders have any obligation to make Loans or issue Letters of Credit hereunder, any
Permit shall become necessary or required
in order that the Borrower may fulfill any of its obligations hereunder, the Borrower
and the Trust and their respective Subsidiaries will immediately take or cause to be taken
all reasonable steps within the power of the Borrower or the Trust, as applicable, to
obtain such Permit and furnish the Agent with evidence thereof.

     §8.12 Use of Proceeds.
Subject at all times to the other provisions of this Agreement, including without
limitation §7.17, the Borrower will use the proceeds of the Loans solely to repay certain
obligations under the Original Credit Agreement, to repay $10,000,000 of the principal
outstanding under the 2007 Term Loan, to repay a portion of the principal outstanding under
the 2008 Term

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Loan at least equal to $15,000,000, to finance the acquisition, development
and rehabilitation of Permitted Properties and for its working capital and general
corporate purposes.

     §8.13 Additional Borrower; Solvency of Borrower; Removal of Borrower; Addition of
Real Estate Asset to Unencumbered Pool.

          (a) (i) If, after the Closing Date, FPLP wishes to designate as an Eligible
Unencumbered Property a Real Estate Asset that otherwise qualifies as an Eligible
Unencumbered Property but is owned by a Person other than the Borrower, FPLP shall cause
such Person (which Person must be a Wholly-owned Subsidiary of FPLP) to become a party to
this Agreement and the other applicable Loan Documents prior to such Real Estate Asset
becoming an Eligible Unencumbered Property hereunder. The liability of each Person which
is from time to time a Borrower hereunder shall be joint and several with each other
Borrower for all Obligations for so long as such Borrower is a Borrower hereunder (provided
that FPLP shall at all times be a Borrower hereunder). (ii) At any time and from time to
time, in connection with the sale or other permanent disposition or the refinancing with
secured mortgage Indebtedness, but only for so long as no Default or Event of Default shall
then exist, FPLP may notify Agent, in writing (each, a “Release Notice”), that the Borrower
would like one (1) or more Eligible Unencumbered Properties to be removed from the
Unencumbered Pool. Such Release Notice shall be accompanied by a Certificate of Compliance
in the form of Exhibit C-3, evidencing compliance with §2.1 and §10 after giving effect to
the requested release and a certification that no Default or Event of Default exists or
would result from such removal. Upon the Agent’s receipt of such Release Notice and its
satisfaction with the Certificate of Compliance, such Eligible Unencumbered Properties
(each, a “Released Property”) shall be removed from the Unencumbered Pool and any Wholly
owned Subsidiary which is the owner of a Released Property (and is not the owner of any
other an Eligible Unencumbered Property) and which is then a Borrower (other than FPLP)
hereunder shall be released from its obligations hereunder (including the Obligations).
Notwithstanding the foregoing, in no event will any Eligible Unencumbered Property be
permitted to be released hereunder without the approval of the Majority Lenders if, at the
time of such release and after giving
effect thereto, the Unencumbered Pool will have fewer than six (6) Real Estate Assets
or the Value of Unencumbered Properties will be less than $100,000,000. (iii) FPLP will
not permit any Borrower (other than FPLP) that owns any Eligible Unencumbered Property to
have any Subsidiaries unless such Subsidiary’s business, obligations and undertakings are
exclusively related to the business of such Borrower.

          (b) The Borrower and the Trust shall remain solvent at all times.

          (c) Prior to the addition of any Real Estate Asset to the Unencumbered Pool, the
Borrower shall deliver to the Agent (i) a written request

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to add such Real Estate Asset to
the Unencumbered Pool, (ii) the Joinder Documents, if applicable, (iii) a current rent roll
and operating statement for such Real Estate Asset, (iv) a Certificate of Compliance in the
form of Exhibit C-3 evidencing compliance with §2.1 and §10 after giving effect to the
requested addition, and including a certification that such Real Estate Asset is not the
subject of a Disqualifying Environmental Event or a Disqualifying Structural Event, and (v)
any other documents, certificates, instruments or agreements reasonably requested by the
Agent.

     Notwithstanding the preceding paragraph of this clause (c), if the Value of Unencumbered
Properties exceeds $200,000,000, the Borrower need not deliver to the Agent the items referred to
in this clause (c) prior to the inclusion of such Real Estate Asset in the Unencumbered Pool
(except to the extent a Joinder Agreement and related Joinder Documents are required to add a new
Borrower in accordance with the terms hereof), but shall deliver them when and as required under
Section 8.4.

          (d) In the event the Borrower wishes to add a Real Estate Asset to the Unencumbered
Pool which does not meet one or more of the Unencumbered Property Conditions or the
provisions of §8.13(c), such Real Estate Asset may be included in the Unencumbered Pool
with the approval of the Majority Lenders.

     §8.14 Further Assurances.
The Borrower and the Trust will cooperate with the Agent and the Lenders and execute
such further instruments and documents as the Lenders or the Agent shall reasonably request
to carry out to their satisfaction the transactions contemplated by this Agreement and the
other Loan Documents.

     §8.15 Interest Rate Protection.
In the event that the Borrower’s floating rate Indebtedness that is not otherwise
subject to interest rate protection arrangements at any time exceeds twenty-five percent
(25%) of Consolidated Gross Asset Value, the Borrower shall obtain and maintain in effect
interest rate protection arrangements (by means of hedging techniques or vehicles such as
interest rate swaps, interest rate caps,
interest rate corridors or interest rate collars (or other mechanism approved by the
Agent), in each case to be capped at a rate reasonably satisfactory to the Agent and
otherwise in form and substance reasonably satisfactory to the Agent) (an “Interest Rate
Protection Arrangement”) for a term and in an amount reasonably satisfactory to the Agent.
Once obtained, the Borrower shall maintain such arrangements in full force and effect as
provided therein, and shall not, without the approval of the Agent, modify, terminate, or
transfer such arrangements during the period in which the Borrower’s floating rate
Indebtedness exceeds twenty-five percent (25%) of Consolidated Gross Asset Value.

     §8.16 Environmental Indemnification.
The Borrower and the Trust each covenants and agrees that it will indemnify and hold
the Agent and each Lender, and each of their respective Affiliates, harmless from and
against any and all

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claims, expense, damage, loss or liability incurred by the Agent or any
Lender (including all reasonable costs of legal representation incurred by the Agent or any
Lender, but excluding, as applicable, for the Agent or a Lender any claim, expense, damage,
loss or liability as a result of the gross negligence or willful misconduct of the Agent or
such Lender or any of their respective Affiliates) relating to (a) any Release or
threatened Release of Hazardous Substances on any Real Estate Asset; (b) any violation of
any Environmental Laws with respect to conditions at any Real Estate Asset or the
operations conducted thereon; (c) the investigation or remediation of off-site locations at
which the Borrower, the Trust or any of their respective Subsidiaries or their predecessors
are alleged to have directly or indirectly disposed of Hazardous Substances; or (d) any
action, suit, proceeding or investigation brought or threatened with respect to any
Hazardous Substances relating to Real Estate Assets (including, but not limited to, claims
with respect to wrongful death, personal injury or damage to property). It is expressly
acknowledged by the Borrower that, notwithstanding the introductory paragraph of this §8,
this covenant of indemnification shall survive the repayment of the amounts owing under the
Notes and this Agreement and the termination of this Agreement and the obligations of the
Lenders hereunder and shall inure to the benefit of the Agent and the Lenders and their
respective Affiliates, their respective successors, and their respective assigns under the
Loan Documents permitted under this Agreement.

     §8.17 Response Actions.
The Borrower covenants and agrees that if any Release or disposal of Hazardous
Substances shall occur or shall have occurred on any Real Estate Asset owned directly or
indirectly by the Borrower or the Trust, in violation of applicable Environmental Laws, the
Borrower will cause the prompt containment and removal of such Hazardous Substances and
remediation of such wholly-owned Real Estate Asset as necessary to comply with all
Environmental Laws or to preserve the value of any applicable Eligible Unencumbered
Property.

     §8.18 Environmental Assessments.
If the Agent reasonably believes, after discussion with the Borrower and review of any
environmental reports provided by the Borrower, that a Disqualifying Environmental Event
has occurred with respect to any one or more of the Eligible Unencumbered Properties,
whether or not a Default or an Event of Default shall have occurred, the Agent may, from
time to time, for the purpose of assessing and determining whether a Disqualifying
Environmental Event has in fact occurred, cause the Borrower to obtain one or more
environmental assessments or audits of such Eligible Unencumbered Property prepared by a
hydrogeologist, an independent engineer or other qualified consultant or expert approved by
the Agent to evaluate or confirm (i) whether any Hazardous Substances are present in the
soil or water at such Eligible Unencumbered Property and (ii) whether the use and operation
of such Eligible Unencumbered Property complies with all Environmental Laws. Environmental
assessments may include without limitation detailed visual inspections of such Eligible
Unencumbered Property including, without limitation, any and all storage areas, storage
tanks, drains, dry wells and leaching

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areas, and, if and to the extent reasonable,
appropriate and required pursuant to applicable Environmental Laws, the taking of soil
samples, surface water samples and ground water samples, as well as such other
investigations or analyses as the Agent deems appropriate. All such environmental
assessments shall be at the sole cost and expense of the Borrower.

     §8.19 Employee Benefit Plans.

          (a) Notice. The Borrower and the Trust will notify the Agent (with copies to
the Agent for each Lender) at least thirty (30) days prior to the establishment of any
Employee Benefit Plan, Multiemployer Plan or Guaranteed Pension Plan by any of them or any
of their respective ERISA Affiliates other than those disclosed on Schedule 8.19 attached
hereto or disclosed in the SEC Filings, and neither the Borrower nor the Trust will
establish any Employee Benefit Plan, Multiemployer Plan or Guaranteed Pension Plan which
could reasonably be expected to have a material adverse effect on FPLP, the Trust or any
member of the Potomac Group.

          (b) In General. Each Employee Benefit Plan maintained by the Borrower, the
Trust or any of their respective ERISA Affiliates will be operated in compliance with the
provisions of ERISA and, to the extent applicable, the Code, including but not limited to
the provisions thereunder respecting prohibited transactions.

          (c) Terminability of Welfare Plans. With respect to each Employee Benefit
Plan maintained by the Borrower, the Trust or any of their respective ERISA Affiliates
which is an employee welfare benefit plan within the meaning of §3(l) or §3(2)(B) of ERISA,
the Borrower, the Trust, or any of their respective ERISA Affiliates, as the case may be,
shall have the right to terminate
each such plan at any time (or at any time subsequent to the expiration of any
applicable bargaining agreement) without liability other than liability to pay claims
incurred prior to the date of termination.

          (d) Unfunded or Underfunded Liabilities. The Borrower and the Trust will not
at any time have accruing or accrued unfunded or underfunded liabilities with respect to
any Employee Benefit Plan, Guaranteed Pension Plan or Multiemployer Plan, or permit any
condition to exist under any Multiemployer Plan that would create a withdrawal liability.

     §8.20 No Amendments to Certain Documents.
The Borrower and the Trust will not at any time cause or permit its certificate of
limited partnership, agreement of limited partnership (including without limitation the
Agreement of Limited Partnership of the Borrower), articles of incorporation, by-laws,
operating agreement or other Organizational Documents, as the case may be, to be modified,
amended or supplemented in any respect whatever, without (in each case) the express prior
written consent or approval of the Agent, if such changes could reasonably be expected to
affect the Trust’s REIT status or otherwise

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adversely affect the rights of the Agent and
the Lenders hereunder or under any other Loan Document.

§9. CERTAIN NEGATIVE COVENANTS OF THE BORROWER AND THE TRUST.
The Borrower and the Trust, on their own behalf and on behalf of their respective
Subsidiaries, jointly and severally covenant and agree that neither the Borrower nor the
Trust will:

     §9.1 Restrictions on Indebtedness.
Create, incur, assume, guarantee or be or remain liable, contingently or otherwise,
with respect to any Indebtedness other than:

          (a) Indebtedness to the Agent and the Lenders (and their respective Affiliates)
arising under any of the Loan Documents;

          (b) current liabilities of the Borrower incurred in the ordinary course of business
other than through (i) the borrowing of money, or (ii) the obtaining of credit except for
credit on an open account basis customarily extended and in fact extended in connection
with normal purchases of goods and services;

          (c) Indebtedness (other than relating to the Eligible Unencumbered Properties) in an
aggregate amount not in excess of $250,000 in respect of taxes, assessments, governmental
charges or levies and claims for labor, materials and supplies to the extent that payment
therefor shall not at the time be required to be made in accordance with the provisions of
§8.9;

          (d) Indebtedness (other than relating to the Eligible Unencumbered Properties) in an
aggregate amount not in excess of $1,000,000 in respect of judgments or awards that have
been in force for less than the applicable period for taking an appeal so long as execution
is not levied thereunder or in respect of which, at the time, a good faith appeal or
proceeding for review is being prosecuted, and in respect of which a stay of execution
shall have been obtained pending such appeal or review;

          (e) endorsements for collection, deposit or negotiation incurred in the ordinary
course of business;

          (f) Secured Indebtedness of the Borrower incurred after the Closing Date, provided
that: (i) such Indebtedness is Without Recourse to the Borrower or the Trust and is Without
Recourse to any of the respective assets of any of the Borrower or the Trust other than to
the specific Real Estate Asset or Assets acquired, refinanced or rehabilitated with the
proceeds of such Indebtedness, except that, notwithstanding the foregoing, a portion of
such Indebtedness at any time outstanding not in excess of fifteen percent (15%) of
Consolidated Gross Asset Value may be Recourse Indebtedness of the Borrower so long as such
Indebtedness is not secured by any Eligible Unencumbered Property or a pledge of the equity
of any Subsidiary that owns an Eligible

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Unencumbered Property, (ii) at the time any such
Indebtedness is incurred and after giving effect thereto, there exists no Default or Event
of Default hereunder and (iii) such Indebtedness, in the aggregate, does not exceed
forty-five percent (45%) of Consolidated Gross Asset Value;

          (g) contingent liabilities of the Borrower disclosed in the financial statements
referred to in §7.4 or on Schedule 9.1(g) hereto, and such other contingent liabilities of
the Borrower having a combined aggregate potential liability of not more than $1,000,000 at
any time; and

          (h) Indebtedness of the Borrower for the purchase price of capital assets (other than
Real Estate Assets but including Indebtedness in respect of Capitalized Leases) incurred in
the ordinary course of business, provided that the aggregate principal amount of
Indebtedness permitted by this clause (h) shall not exceed $500,000 at any time
outstanding.

     Notwithstanding the foregoing, in no event shall the Borrower, the Trust or any of their
respective Subsidiaries incur or have outstanding unhedged variable rate Indebtedness in excess of
twenty-five percent (25%) of Consolidated Gross Asset Value.

     It is understood and agreed that the provisions of this §9.1 shall not apply to Indebtedness
of any Partially Owned Entity which is Without Recourse to the Borrower or the Trust, or any of
their respective assets.

     The terms and provisions of this §9.1 are in addition to, and not in limitation of, the
covenants set forth in §10.

     §9.2 Restrictions on Liens, Etc.
(a) Create or incur or suffer to be created or incurred or to exist any lien,
mortgage, pledge, attachment, security interest or other rights of third parties of any
kind upon any of the Eligible Unencumbered Properties or upon the Equity Interests of FPLP
or any other Borrower, whether now owned or hereafter acquired, or upon the income or
profits therefrom or the Distributions attributable thereto; (b) acquire, or agree or have
an option to acquire, any property or assets upon conditional sale or other title retention
or purchase money security agreement, device or arrangement in connection with the
operation of the Eligible Unencumbered Properties; (c) suffer to exist with respect to the
Eligible Unencumbered Properties, any taxes, assessments, governmental charges and claims
for labor, materials and supplies for which payment thereof is not being contested or for
which payment notwithstanding a contest is required to be made in accordance with the
provisions of §8.9 and has not been timely made; or (d) sell, assign, pledge or otherwise
transfer for security any accounts, contract rights, general intangibles, chattel paper or
instruments, with or without recourse, relating to the Eligible Unencumbered Properties
(the foregoing types of liens and encumbrances described in clauses (a) through (d) being
sometimes referred to herein collectively as “Liens”), provided that the Borrower may
create or incur or suffer to be created or incurred or to exist:

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     (i) Liens securing taxes, assessments, governmental charges or
levies which are not yet due and payable or which are not yet
required to be paid under §8.9;

     (ii) Liens arising out of deposits or pledges made in connection
with, or to secure payment of, worker’s compensation, unemployment
insurance, old age pensions or other social security obligations; and
deposits with utility companies and other similar deposits made in
the ordinary course of business;

     (iii) Liens (other than affecting the Eligible Unencumbered
Properties) in respect of judgments or awards, the Indebtedness with
respect to which is not prohibited by §9.1(d);

     (iv) Encumbrances on properties consisting of easements, rights
of way, covenants, zoning and other land-use restrictions, building
restrictions, restrictions on the use of real property and defects
and irregularities in the title thereto; landlord’s or lessor’s Liens
under Leases to which the Borrower is a party or bound; purchase
options granted at a price not less than the market value of such
property; and other minor Liens or encumbrances on properties, none
of which interferes materially and adversely with the use of the
property affected in the ordinary conduct of the business of the
Borrower, and which matters (x) do not individually or in the
aggregate have a material adverse effect on the business of FPLP, the
Trust or any member of the Potomac Group and (y) do not make title to
such property unmarketable by the conveyancing standards in effect
where such property is located;

     (v) any Leases entered into in the ordinary course of business;

     (vi) as to Real Estate Assets which are acquired after the date
of this Agreement, Liens and other encumbrances or rights of others
which exist on the date of acquisition and which do not otherwise
constitute a breach of this Agreement; provided that nothing in this
clause (vi) shall be deemed or construed to permit an Eligible
Unencumbered Property to be subject to a Lien to secure Indebtedness;

     (vii) Liens affecting the Eligible Unencumbered Properties in
respect of judgments or awards that are under appeal or have been in
force for less than the applicable period

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for taking an appeal, so
long as execution is not levied thereunder or in respect of which, at
the time, a good faith appeal or proceeding for review is being
diligently prosecuted, and in respect of which a stay of execution
shall have been obtained pending such appeal or review; provided that
the Borrower shall have obtained a bond or insurance or made other
arrangements with respect thereto, in each case reasonably
satisfactory to the Agent;

     (viii) Liens securing Indebtedness for the purchase price of
capital assets (other than Real Estate Assets but including
Indebtedness in respect of Capitalized Leases for equipment and other
equipment leases) to the extent not otherwise prohibited by §9.1; and

     (ix) other Liens (other than affecting the Eligible Unencumbered
Properties) in connection with any Indebtedness permitted under §9.1.

     Nothing contained in this §9.2 shall restrict or limit the Borrower or any of their respective
Wholly-owned Subsidiaries from creating a Lien on any Real Estate Asset which is not an Eligible
Unencumbered Property and otherwise in compliance with the other terms of this Agreement.

     The Trust shall not create or incur or suffer to be created or incurred any Lien on any of its
directly-owned properties or assets, including, in any event, its general partner interests and
limited partner interests in the Borrower.

     §9.3 Restrictions on Investments.
Make or permit to exist or to remain outstanding any Investment except, with respect
to the Borrower and its Subsidiaries only, Investments in:

          (a) marketable direct or guaranteed obligations of the United States of America that
mature within one (1) year from the date of purchase (including investments in securities
guaranteed by the United States of America such as securities in so called “overseas
private investment corporations”);

          (b) demand deposits, certificates of deposit, bankers acceptances and time deposits of
United States banks having total assets in excess of $1,000,000,000;

          (c) securities commonly known as “commercial paper” issued by a corporation organized
and existing under the laws of the United States of America or any state thereof that at
the time of purchase have been rated and the ratings for which are not less than “P 1” if
rated by Moody’s, and not less than “A 1” if rated by S&P;

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          (d) Investments existing on the Closing Date and listed in the financial
statements referred to in §7.4;

          (e) other Investments hereafter in connection with the acquisition and development of
Permitted Properties by the Borrower or any Wholly-owned Subsidiary of the Borrower,
provided that the aggregate amounts actually invested by Borrower (or if not invested
directly by Borrower, actually invested by an Affiliate of the Borrower for which the
Borrower has any funding obligation) and such Wholly-owned Subsidiary at any time in Real
Estate Assets under Development (including all development costs) will not exceed ten
percent (10%) of the Consolidated Gross Asset Value at the time of any such Investment; and
Investments in raw land intended to be developed by the Borrower or any Wholly-owned
Subsidiary of the Borrower for use as a Permitted Property, provided that the aggregate
amounts actually invested by Borrower (or if not invested directly by Borrower, actually
invested by an Affiliate of the Borrower for which the Borrower has any funding obligation)
and such Wholly-owned Subsidiary at any time in raw land will not exceed five percent (5%)
of the Consolidated Gross Asset Value at the time of any such Investment;

          (f) any Investments now or hereafter made in any Wholly-owned Subsidiary; and
Investments now or hereafter made in any Partially-Owned Entity (or other Person for which
the Borrower has any funding obligation) so long as such Investment is made in connection
with Permitted Properties and provided that the aggregate amounts actually invested by
Borrower (or if not invested directly by Borrower, actually invested by an Affiliate of the
Borrower for which the Borrower has any funding obligation) and such Wholly-owned
Subsidiary at any time in any Partially-Owned Entity (or other such Person) will not exceed
twenty percent (20%) of the Consolidated Gross Asset Value at the time of any such
Investment; and

          (g) Investments in respect of (1) equipment, inventory and other tangible personal
property acquired in the ordinary course of business, (2) current trade and customer
accounts receivable for services rendered in the ordinary course of business and payable in
accordance with customary trade terms, (3) advances in the ordinary course of business to
employees for travel expenses, drawing accounts and similar expenditures, (4) prepaid
expenses made in the ordinary course of business.

          (h) Investments by the Borrower in Mortgage Notes, provided that the aggregate
investment in such Mortgage Notes will not exceed five percent (5%) of the Consolidated
Gross Asset Value at the time of any such Investment.

     In no event shall the aggregate of Investments made pursuant to subclauses (e), (f), (g) and
(h) above exceed twenty-five percent (25%) of Consolidated Gross Asset Value at any time.

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     Notwithstanding the foregoing, the Trust shall be permitted to make and maintain Investments
in the Borrower and the Trust shall contribute to the Borrower, promptly upon, and in any event
within 3 Business Days of, the Trust’s receipt thereof, 100% of the aggregate proceeds received by
the Trust in connection with any offering of stock or debt in the Trust (net of fees and expenses
customarily incurred in such offerings).

     §9.4 Merger, Consolidation and Disposition of Assets; Assets of the Trust.

          (a) Become a party to any merger, consolidation, spin-off or other material business
change without the prior written approval of the Majority Lenders (other than (x) the
merger or consolidation of one or more Wholly-owned Subsidiaries with and into the Borrower
or (y) the merger or consolidation of two or more Wholly owned Subsidiaries of the
Borrower; so long as, in each case, no Default or Event of Default has occurred and is
continuing, or would occur and be continuing after giving effect to such merger or
consolidation); or

          (b) sell, transfer or otherwise dispose of any Real Estate Assets or other property,
including any equity interest in any Person in any one or more transactions in any 12-month
period having a sales price (net of any Indebtedness secured by a Lien on such Real Estate
Assets, if any), in an amount in excess of twenty percent (20%) of Consolidated Gross Asset
Value (collectively and individually, “Sell” or a “Sale”) or grant a Lien to secure
Indebtedness (an “Indebtedness Lien”) in any one or more transactions in a 12-month period
in an amount in excess of twenty percent (20%) of Consolidated Gross Asset Value unless, in
each such event, the Majority Lenders have given their prior written consent thereto. In
addition, prior to any Sale or grant of an Indebtedness Lien, the Borrower shall have
provided to the Agent (with copies to the Agent for each Lender) a compliance certificate
in the form of Exhibit C-3, hereto signed by the chief financial officer or chief
accounting officer of the Borrower, setting forth in reasonable detail computations
evidencing compliance with the covenants contained in §10 hereof and certifying that no
Default or Event of Default would exist or occur and be continuing after giving effect to
all such proposed Sales or Indebtedness Liens (and the use of proceeds of such Sales or
Indebtedness Liens to pay Indebtedness outstanding hereunder).

     §9.5 Compliance with Environmental Laws. (a) Use any of the Real Estate
Assets or any portion thereof as a facility for the handling, processing, storage or
disposal of Hazardous Substances except for quantities of Hazardous Substances used in the
ordinary course of business and in compliance with all applicable Environmental Laws, (b)
cause or permit to be located on any of the Real Estate Assets any underground tank or
other underground storage receptacle for Hazardous Substances except in compliance with
Environmental Laws, (c) generate any Hazardous Substances on any of the Real Estate Assets
except in compliance with Environmental Laws, or (d) conduct
any activity at any Real Estate Asset or use any Real Estate Asset in any manner so as
to cause a Release in violation of applicable Environmental Laws.

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     §9.6 Distributions.

          (a) The Borrower will not make or declare (i) annual Distributions in excess of 95% of
“funds from operations”; or (ii) any Distributions during any period after any monetary
Event of Default has occurred; provided, however, (a) that the Borrower may at all times
(including while an Event of Default is continuing) make Distributions to the extent (after
taking into account all available funds of the Trust from all other sources) required in
order to enable the Trust to continue to qualify as a REIT and (b) in the event that the
Borrower cures any such Event of Default in clause (ii) above and the Agent has accepted
such cure prior to accelerating the Loan, the limitation of clause (ii) above shall cease
to apply with respect to such Event of Default.

          (b) The Trust will not, during any period when any monetary Event of Default has
occurred and is continuing, make any Distributions in excess of the minimum Distributions
required to be made by the Trust in order to maintain its status as a REIT.

     §9.7 Government Regulation. The Borrower and the Trust shall not, and shall
not permit any of their respective Subsidiaries to, (a) be or become subject at any time to
any law, regulation, or list of any government agency (including, without limitation, the
U.S. Office of Foreign Asset Control list) that prohibits or limits the Agent or any Lender
from making any advance or extension of credit to the Borrower or from otherwise conducting
business with the Borrower, or (b) fail to provide documentary and other evidence of the
Borrower’s identity as may be requested by the Agent or any Lender at any time to enable
the Agent or any Lender to verify the Borrower’s identity or to comply with any applicable
law or regulation, including, without limitation, Section 326 of the USA Patriot Act of
2001, 31 U.S.C. Section 5318.

§10. FINANCIAL COVENANTS; COVENANTS REGARDING ELIGIBLE UNENCUMBERED PROPERTIES. The
Borrower and the Trust, on their own behalf and on behalf of their respective Subsidiaries,
jointly and severally covenant and agree that:

     §10.1 Consolidated Total Leverage Ratio. At any time, (i) from the Closing
Date through the fiscal quarter ending September 30, 2010, Consolidated Total Indebtedness
as at the last day of the each fiscal quarter shall not exceed sixty-five percent (65%) of
Consolidated Gross Asset Value as of the last day of such fiscal quarter, (ii) for the
fiscal quarter ending December 31, 2010 through the fiscal quarter ending September
30, 2011, Consolidated Total Indebtedness as at the last day of each fiscal quarter
shall not exceed sixty-two and one half of one percent (62.5%) of Consolidated Gross Asset
Value as of the last day of such fiscal quarter, and (iii) for each fiscal quarter ending
on or after December 31, 2011, Consolidated Total Indebtedness as at the last day of the
applicable fiscal quarter shall not exceed sixty percent (60%) of Consolidated Gross Asset
Value

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as of the last day of such fiscal quarter. This covenant shall be tested quarterly
as of the last day of the applicable quarter.

     §10.2 Consolidated Debt Yield. As at the end of any fiscal quarter (i) from
the Closing Date through the fiscal quarter ending September 30, 2010, the Consolidated
Debt Yield shall not be less than ten percent (10%), (ii) for the fiscal quarter ending
December 31, 2010 through the fiscal quarter ending September 30, 2011, the Consolidated
Debt Yield shall not be less than ten and one half of one percent (10.5%), and (iii) for
each fiscal quarter ending on or after December 31, 2011, the Consolidated Debt Yield shall
not be less than eleven percent (11%).

     §10.3 Fixed Charge Coverage Ratio. As at the end of any fiscal quarter, the
ratio of (i) Adjusted EBITDA for the four consecutive fiscal quarters ending on the last
day of such fiscal quarter to (ii) Consolidated Fixed Charges for the four consecutive
fiscal quarters ending on the last day of such fiscal quarter must exceed 1.50 to 1.0.

     §10.4 Net Worth. As at the end of any fiscal quarter or any other date of
measurement, the Consolidated Tangible Net Worth of the Borrower and its Subsidiaries shall
not be less than the sum of (i) $370,000,000 plus (ii) 80% of the aggregate proceeds
received by the Trust (net of fees and expenses customarily incurred in transactions of
such type) in connection with any offering of stock in the Trust, plus (iii) 80% of the
aggregate value of operating units issued by the Borrower in connection with asset or stock
acquisitions (valued at the time of issuance by reference to the terms of the agreement
pursuant to which such units are issued), in each case after the Closing Date and on or
prior to the date such determination of Consolidated Net Worth is made.

     §10.5 Unencumbered Pool Leverage. As at the end of any fiscal quarter or any
other date of measurement, (i) from the Closing Date through the fiscal quarter ending
September 30, 2010, the Borrower shall not permit Unsecured Consolidated Total Indebtedness
as at the last day of each fiscal quarter to exceed 65% of the aggregate Value of
Unencumbered Properties on the last day of such fiscal quarter, (ii) for the fiscal quarter
ending December 31, 2010 through the fiscal quarter ending September 30, 2011, the Borrower
shall not permit Unsecured Consolidated Total Indebtedness as at the last day of each
fiscal quarter to exceed sixty-two and one
half of one percent (62.5%) of the aggregate Value of Unencumbered Properties on the
last day of such fiscal quarter, and (iii) for each fiscal quarter ending on or after
December 31, 2011, the Borrower shall not permit Unsecured Consolidated Total Indebtedness
as at the last day of any fiscal quarter to exceed sixty percent (60%) of the aggregate
Value of Unencumbered Properties on the last day of such fiscal quarter. For purposes of
the covenant set forth in this §10.5, any New Mezzanine Debt incurred by the Borrower after
the date hereof shall be deemed to be Unsecured Consolidated Total Indebtedness.

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     §10.6 Unencumbered Pool Interest Coverage Ratio. As of the end of any fiscal
quarter, the ratio of (i) Adjusted Net Operating Income for the applicable quarter,
annualized; divided by (ii) the Unsecured Interest Expense for the applicable quarter,
annualized, shall not be less than 1.75 to 1.0.

     §10.7 Occupancy. Eligible Unencumbered Properties (other than any Real Estate
Asset Under Development included in the Unencumbered Pool) shall at all times maintain a
stabilized occupancy of 80% in the aggregate, provided that (i) any Eligible Unencumbered
Property acquired after the date hereof during the first half of any quarter shall be
excluded from the foregoing calculation for the fiscal quarter in which it was acquired and
for the immediately following fiscal quarter, and (ii) any Eligible Unencumbered Property
acquired after the date hereof during the last half of any quarter shall be excluded from
the foregoing calculation for the fiscal quarter in which it was acquired and for the
immediately two following fiscal quarters.

§11. [Reserved.]

§12. CONDITIONS TO THE FIRST ADVANCE. The obligations of any Lender to make the initial
Revolving Credit Loans and of the Fronting Bank to issue any initial Letters of Credit (and
to maintain the existing outstanding Loans and Letters of Credit) shall be subject to the
satisfaction of the following conditions precedent on or prior to the Closing Date with, in
each instance, the Agent, acting on behalf of the Lenders, having approved in its sole
discretion each matter submitted to it in compliance with such conditions:

     §12.1 Loan Documents. Each of the Loan Documents shall have been duly
executed and delivered by the respective parties thereto and shall be in full force and
effect.

     §12.2 Certified Copies of Organization Documents.
The Agent shall have received (i) from the Borrower a copy, certified as of a recent
date by a duly authorized officer of the Trust, in its capacity as general partner of the
Borrower, to be true and complete, of the Agreement of Limited Partnership of FPLP and any
other Organizational Document or other agreement governing the rights of the partners or
other equity owners of the Borrower, and (ii) from the Trust a copy, certified as of a
recent date by the appropriate officer of the State of Maryland to be true and correct, of
the corporate charter of the Trust, in each case along with any other organization
documents of the Borrower or the Trust and their respective general partners, as the case
may be, and each as in effect on the date of such certification.

     §12.3 By-laws; Resolutions. All action on the part of the Borrower and the
Trust necessary for the valid execution, delivery and performance by the Borrower and the
Trust of this Agreement and the other Loan Documents to which any of them is or is to
become a party shall have been duly and effectively taken, and evidence thereof
satisfactory to the Agent shall have been provided to

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the Agent. The Agent shall have
received from the Trust true copies of its by-laws and the resolutions adopted by its board
of directors or trustees authorizing the transactions described herein and evidencing the
due authorization, execution and delivery of the Loan Documents to which the Trust and/or
the Borrower is a party, each certified by the secretary as of a recent date to be true and
complete.

     §12.4 Incumbency Certificate; Authorized Signers. The Agent shall have
received from the Trust an incumbency certificate, dated as of the Closing Date, signed by
a duly authorized officer of the Trust and giving the name of each individual who shall be
authorized: (a) to sign, in the name and on behalf of the Borrower and the Trust, as the
case may be, each of the Loan Documents to which the Borrower or the Trust is or is to
become a party; (b) to make Loan and Conversion Requests on behalf of the Borrower and (c)
to give notices and to take other action on behalf of the Borrower or the Trust, as
applicable, under the Loan Documents.

     §12.5 Opinion of Counsel Concerning Organization and Loan Documents. Each of
the Lenders and the Agent shall have received favorable opinions addressed to the Lenders
and the Agent in form and substance reasonably satisfactory to the Lenders and the Agent
from Armstrong Teasdale LLP and, if any, state specific local counsel who are reasonably
satisfactory to Agent, each as counsel to the Borrower, the Trust and their respective
Subsidiaries, with respect to applicable law.

     §12.6 Guaranty. The Guaranty shall have been duly executed and delivered by
the Trust.

     §12.7 Financial Analysis of Eligible Unencumbered Properties. Each of the
Lenders shall have completed to its satisfaction, a financial analysis of each Eligible
Unencumbered Property.

     §12.8 Inspection of Eligible Unencumbered Properties. The Agent shall have
completed to its satisfaction an inspection of the Eligible Unencumbered Properties at the
Borrower’s expense. The Agent shall distribute to the Lenders any written reports
resulting from any such inspections.

     §12.9 Certifications from Government Officials; UCC 11 Reports. The Agent
shall have received (i) long form certifications from government officials evidencing the
legal existence, good standing and foreign qualification of the Borrower and the Trust,
along with a certified copy of the certificate of limited partnership of the Borrower, all
as of the most recent practicable date; and (ii) UCC 11 search results from the appropriate
jurisdictions for the Borrower and the Trust.

     §12.10 Proceedings and Documents. All proceedings in connection with the
transactions contemplated by this Agreement, the other Loan Documents and all other
documents incident thereto shall be satisfactory in form and substance to

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each of the
Lenders and to the Agent’s counsel, and the Agent, each of the Lenders and such counsel
shall have received all information and such counterpart originals or certified or other
copies of such documents as the Agent may reasonably request.

     §12.11 Fees. The Borrower shall have paid to the Agent, for the accounts of
the Lenders or for its own account, as applicable, all of the fees and expenses that are
due and payable as of the Closing Date in accordance with this Agreement or any separate
fee letter entered into by the Borrower and the Trust and the Agent.

     §12.12

     §12.13

     §12.14

     §12.15 Closing Certificate. The Borrower and the
Guarantor shall have delivered a Closing Certificate to the Agent, in form and substance
satisfactory to the Agent, including, without limitation, (i) a certification that as of
the Closing Date, the Borrower is not in default under any Indebtedness, (ii) that there
has been no material adverse change in the business, assets, operations, condition
(financial or
otherwise) or prospects of the Borrower or the Trust since June 30, 2009, or in the
facts and information regarding the Borrower the Trust and their respective Subsidiaries as
provided to the Agent and the Lenders to date and (iii) that no event of default or
unmatured event of default has occurred under any of the Borrower’s or the Trust’s (or
their respective Subsidiaries) financial obligations in effect on the Closing Date, both
before and after giving effect to the making of the Loans hereunder.

     §12.16 Other Debt Prepayments. The Borrower shall (i) use at least
$15,000,000 of the proceeds of the Loans made on the Closing Date to repay a portion of the
outstanding principal under the 2008 Term Loan (and the Borrower shall request the release
of unencumbered properties supporting such $15,000,000 of outstanding principal from the
2008 Term Loan) and (ii) repay the 2007 Term Loan by not more than $10,000,000 on the date
hereof.

     §12.17 2007 Term Loan. The Borrower shall have entered into an amendment to
the 2007 Term Loan reflecting a maturity date of January 15, 2014 for at least a
$10,000,000 principal portion of the 2007 Term Loan.

     §12.18

     §12.19

     §12.20

     §12.21

     §12.22 Other Matters. The Borrower and the
Guarantor shall have delivered to the Agent, in form and substance satisfactory to the
Agent, such other information, documents, certificates and other items reasonably requested
by the Agent.

§13. CONDITIONS TO ALL BORROWINGS. The obligations of any Lender to make any Loan, and of
the Fronting Bank to issue any Letter of Credit, whether on or after the Closing Date,
shall also be subject to the satisfaction of the following conditions precedent:

     §13.1 Representations True; No Event of Default; Compliance Certificate. Each
of the representations and warranties made by or on behalf of

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the Borrower, the Trust or
any of their respective Subsidiaries contained in this Agreement, the other Loan Documents
or in any document or instrument delivered pursuant to or in connection with this Agreement
shall be true as of the date as of which they were made and shall also be true at and as of
the time of the making of each Loan, and the issuance, extension or renewal of any Letter
of Credit, with the same effect as if made at and as of that time (except to the extent
that such representations and warranties relate expressly to an earlier date); and no
Default or Event of Default under this Agreement shall have occurred and be continuing on
the date of any Completed Loan Request or on the Drawdown Date of any Loan or Letter of
Credit.

     §13.2 No Legal Impediment. No change shall have occurred any law or
regulations thereunder or interpretations thereof that in the reasonable opinion of the
Agent or any Lender or the Fronting Bank would make it illegal for any Lender to make such
Loan or to participate in the issuance, extension or renewal of such Letter of Credit or,
in the reasonable opinion of the Agent, would make it illegal to issue, extend or renew
such Loan or Letter of Credit.

     §13.3 Governmental Regulation. Each Lender shall be satisfied that the making
of such Loan or participation in the issuance, extension or renewal of such Letter of
Credit is in compliance with any applicable regulations of the Comptroller of the Currency
or the Board of Governors of the Federal Reserve System.

     §13.4 Borrowing Documents. In the case of any request for a Revolving Credit
Loan or a Letter of Credit, the Agent shall have received the Completed Loan Request and
required certificates.

     §13.5 [Reserved.]

     §13.6 New Unencumbered Pool Property. To the extent the Completed Loan
Request is for a funding based upon any new Real Estate Asset being part of the
Unencumbered Pool, the Agent shall have determined that the Unencumbered Property
Conditions and the terms of Section 8.13(c) have been satisfied with respect to such Real
Estate Asset.

     §13.7 Continued Compliance. To the extent deemed applicable by the Agent, the
conditions of Section 12 shall remain or be satisfied.

§14. EVENTS OF DEFAULT; ACCELERATION; ETC.

     §14.1 Events of Default and Acceleration. If any of the following events
(“Events of Default”) shall occur:

          (a) the Borrower shall fail to pay any principal of any Loans when the same shall
become due and payable, whether at the stated date of maturity or any accelerated date of
maturity or at any other date fixed for payment;

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          (b) the Borrower shall fail to pay any interest on the Loans or any other sums due
hereunder or under any of the other Loan Documents or any fee letter (including, without
limitation, amounts due under §8.16) when the same shall become due and payable, and such
failure continues for three (3) days;

          (c) the Borrower, the Trust or any of their respective Subsidiaries shall fail to
comply, or to cause the Trust to comply, as the case may be, with any of the respective
covenants contained in the following: §8.1 (except with respect to principal, interest and
other sums covered by clauses (a) or (b) above); §8.2; §§8.4 through §8.10, inclusive;
§8.12; §8.13; §8.15; §8.19; §8.20; §9; and §10;

          (d) the Borrower, the Trust or any of their respective Subsidiaries shall fail to
perform any other term, covenant or agreement contained herein or in any of the other Loan
Documents (other than those specified elsewhere in this §14) and such failure continues for
thirty (30) days;

          (e) any representation or warranty made by or on behalf of the Borrower, the Trust or
any of their respective Subsidiaries in this Agreement or any of the other Loan Documents
shall prove to have been false in any material respect upon the date when made or deemed to
have been made or repeated;

          (f) the Borrower, the Trust or any of its Subsidiaries or, to the extent of Recourse
to the Borrower, the Trust or such Subsidiaries thereunder, any Partially-Owned Entity or
other of their respective Affiliates, shall fail to pay at maturity, or within any
applicable period of grace, any Indebtedness for borrowed money or credit received or in
respect of any Capitalized Leases, which is in excess of (i) $25,000,000, either
individually or in the aggregate, if such Indebtedness is Without Recourse and (ii)
$5,000,000, either individually or in the aggregate, if such Indebtedness is Recourse, or
fail to observe or perform any material term, covenant, condition or agreement contained in
any agreement, document or instrument by which it is bound evidencing, securing or
otherwise relating to such Indebtedness or Recourse obligations, evidencing or securing
borrowed money or credit received or in respect of any Capitalized Leases for such period
of time (after the giving of appropriate notice if required) as would permit the holder or
holders thereof or of any obligations issued thereunder in excess of (i) $25,000,000,
either individually or in the aggregate, if such Indebtedness is without Recourse and (ii)
$5,000,000, either individually or in the aggregate, if such Indebtedness is Recourse, to
accelerate the maturity thereof;

          (g) any of FPLP, the Trust or any of their respective Subsidiaries shall make an
assignment for the benefit of creditors, or admit in
writing its inability to pay or generally fail to pay its debts as they mature or
become due, or shall petition or apply for the appointment of a trustee or other custodian,
liquidator or receiver of any of FPLP, the Trust or any of their respective Subsidiaries or
of any substantial part of the properties or assets of any of such parties or shall
commence any case or other proceeding relating to any of

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the FPLP, the Trust or any of
their respective Subsidiaries under any bankruptcy, reorganization, arrangement,
insolvency, readjustment of debt, dissolution or liquidation or similar law of any
jurisdiction, now or hereafter in effect, or shall take any action to authorize or in
furtherance of any of the foregoing, or if any such petition or application shall be filed
or any such case or other proceeding shall be commenced against any of FPLP, the Trust or
any of their respective Subsidiaries and (i) any of FPLP, the Trust or any of their
respective Subsidiaries shall indicate its approval thereof, consent thereto or
acquiescence therein or (ii) any such petition, application, case or other proceeding shall
continue undismissed, or unstayed and in effect, for a period of forty-five (45) days;

          (h) a decree or order is entered appointing any trustee, custodian, liquidator or
receiver or adjudicating any of FPLP, the Trust or any of their respective Subsidiaries
bankrupt or insolvent, or approving a petition in any such case or other proceeding, or a
decree or order for relief is entered in respect of any of FPLP, the Trust or any of their
respective Subsidiaries in an involuntary case under federal bankruptcy laws as now or
hereafter constituted;

          (i) there shall remain in force, undischarged, unsatisfied and unstayed, for more than
thirty (30) days, whether or not consecutive, any uninsured final judgment against any of
FPLP, the Trust or any of their respective Subsidiaries that, with other outstanding
uninsured final judgments, undischarged, unsatisfied and unstayed, against any of such
parties exceeds in the aggregate $2,000,000;

          (j) any of the Loan Documents or any material provision of any Loan Document shall be
canceled, terminated, revoked or rescinded otherwise than in accordance with the terms
thereof or with the express prior written agreement, consent or approval of the Agent, or
any action at law, suit or in equity or other legal proceeding to make unenforceable,
cancel, revoke or rescind any of the Loan Documents shall be commenced by or on behalf of
the Borrower or any of its Subsidiaries or the Trust or any of its Subsidiaries, or any
court or any other governmental or regulatory authority or agency of competent jurisdiction
shall make a determination that, or issue a judgment, order, decree or ruling to the effect
that, any one or more of the Loan Documents is illegal, invalid or unenforceable as to any
material terms thereof;

          (k) any “Event of Default” or default (after notice and expiration of any period of
grace, to the extent provided, as defined or provided in any of the other Loan Documents,
shall occur and be continuing;

          (l) with respect to any Guaranteed Pension Plan, an ERISA Reportable Event shall have
occurred and the Majority Lenders shall have determined in their reasonable discretion that
such event reasonably could be expected to result in liability of the Borrower or any of
its Subsidiaries or the Trust or any of its Subsidiaries to the PBGC or such Guaranteed
Pension Plan in an aggregate amount exceeding $2,000,000 and such event in the
circumstances

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occurring reasonably could constitute grounds for the termination of such
Guaranteed Pension Plan by the PBGC or for the appointment by the appropriate United States
District Court of a trustee to administer such Guaranteed Pension Plan; or a trustee shall
have been appointed by the United States District Court to administer such Plan; or the
PBGC shall have instituted proceedings to terminate such Guaranteed Pension Plan;

          (m) subject to the Borrower’s ability to remove Real Estate Assets from the
Unencumbered Pool in accordance with the provisions set forth below in this §14, the
failure of any of the Real Estate Assets being included from time to time as part of the
Unencumbered Pool to comply with any of the conditions set forth in the definition of
Eligible Unencumbered Properties;

          (n) the occurrence of any transaction in which any “person” or “group” (within the
meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934),
directly or indirectly, of a sufficient number of shares of all classes of stock then
outstanding of the Trust ordinarily entitled to vote in the election of directors,
empowering such “person” or “group” to elect a majority of the Board of Directors or Board
of Trustees of the Trust, who did not have such power before such transaction; or during
any twelve-month period on or after the Closing Date, individuals who at the beginning of
such period constituted the Board of Trustees of the Trust (together with any new directors
whose election by the Board of Trustees or whose nomination for election by the
shareholders of the Trust was approved by a vote of at least a majority of the members of
the Board of Trustees then in office who either were members of the Board of Trustees at
the beginning of such period or whose election or nomination for election was previously so
approved) ceased for any reason to constitute a majority of the members of the Board of
Trustees of the Trust then in office; or

          (o) without limitation of the other provisions of this §14.1, the Trust shall at any
time fail to be the sole general partner of FPLP (or enters into any agreement to permit
any other Person to acquire a general partner interest in FPLP) or shall at any time be in
contravention of any of the requirements contained in the last paragraph of §9.2 hereof, or
§9.3 (including, without limitation, the last paragraph of §9.3); or

          (p) the Borrower shall make any principal payment under the 2007 Term Loan at a time
when the Minimum Liquidity does not equal or exceed the Minimum Liquidity Threshold (after
giving effect to such principal payment);

     then, and in any such event, so long as the same may be continuing, the Agent may, and upon
the request of the Majority Lenders shall, declare all amounts owing with respect to this
Agreement, the Notes and the other Loan Documents to be, and they shall thereupon forthwith become,
immediately due and payable without presentment, demand, protest or other notice of any kind, all
of which are hereby expressly waived by the

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Borrower, the Trust and each of their respective
Subsidiaries; provided that in the event of any Event of Default specified in §14.1(g) or 14.1(h),
all such amounts shall become immediately due and payable automatically and without any requirement
of notice from any of the Lenders or the Agent or action by the Lenders or the Agent.

     Notwithstanding the foregoing provisions of this §14.1, in the event of a Default or Event of
Default arising as a result of the inclusion of any Real Estate Asset in the Unencumbered Pool at
any particular time of reference, if such Default or Event of Default is capable of being cured by
the exclusion of such Real Estate Asset from the Unencumbered Pool in accordance with, and subject
to, §8.13 and with all other covenant calculations under §10 or otherwise, the Borrower shall be
permitted a period not to exceed five (5) days to submit to the Agent (with copies to the Agent for
each Lender) a compliance certificate in the form of Exhibit C hereto evidencing compliance with
§2.1 and with all of the covenants set forth in §10 (with calculations evidencing such compliance
after excluding from Adjusted Net Operating Income all of the Adjusted Net Operating Income
generated by the Real Estate Asset to be excluded from the Unencumbered Pool) and with the
Unencumbered Property Conditions, and otherwise certifying that, after giving effect to the
exclusion of such Real Estate Asset from the Unencumbered Pool, no Default or Event of Default will
be continuing.

     §14.2 Termination of Commitments. If any one or more Events of Default
specified in §14.1(g) or §14.1(h) shall occur, any unused portion of the Commitments or
other commitments to extend credit hereunder shall forthwith terminate and the Lenders
shall be relieved of all obligations to make Loans to the Borrower and the Agent and the
Fronting Bank shall be relieved of all further obligations to issue, extend or renew
Letters of Credit. If any other Event of Default shall have occurred and be continuing, the
Agent may, and upon the request of the Majority Lenders shall, terminate the unused portion
of the Commitments or other commitment to extend credit hereunder. No such termination of
the Commitments or other commitment to extend credit hereunder shall relieve the Borrower
of any of the Obligations or any of its existing obligations to the Agent or the Lenders
arising under other agreements or instruments.

     §14.3 Remedies. In the event that one or more Events of Default shall have
occurred and be continuing, whether or not the Lenders shall have accelerated the maturity
of the Loans pursuant to §14.1, the Majority Lenders may direct the Agent to proceed to
protect and enforce the rights and remedies of the Agent and the Lenders under this
Agreement, the Notes, any or all of the other Loan Documents
or under applicable law by suit in equity, action at law or other appropriate
proceeding (including for the specific performance of any covenant or agreement contained
in this Agreement or the other Loan Documents or any instrument pursuant to which the
Obligations are evidenced and, to the full extent permitted by applicable law, the
obtaining of the ex parte appointment of a receiver), and, if any amount shall have become
due, by declaration or otherwise, proceed to enforce the payment thereof or any other legal
or equitable right or remedy of the Agent and the Lenders under the Loan Documents or
applicable

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law. No remedy herein conferred upon the Lenders or the Agent or the holder of
any Note or purchaser of any Letter of Credit Participation is intended to be exclusive of
any other remedy and each and every remedy shall be cumulative and shall be in addition to
every other remedy given hereunder or under any of the other Loan Documents or now or
hereafter existing at law or in equity or by statute or any other provision of law.

§15. SECURITY INTEREST AND SET-OFF.

     §15.1 Security Interest. Borrower hereby grants to the Agent, on behalf of
and for the benefit of the Lenders, and to each Lender, a lien, security interest and right
of setoff as security for all liabilities and obligations to the Lenders, whether now
existing or hereafter arising, upon and against all deposits, credits, collateral and
property, now or hereafter in the possession, custody, safekeeping or control of the Agent
or any Lender or any entity under the control of KeyCorp. and its successors and assigns,
or in transit to any of them.

     §15.2 Set-Off and Debit. (i) If any Event of Default or other event which
would entitle the Agent to accelerate the Loans occurs, or (ii) at any time, whether or not
any Default or Event of Default exists, in the event any attachment, trustee process,
garnishment, or other levy or lien is, or is sought to be, imposed on any property of the
Borrower; then, in any such event, any such deposits, balances or other sums credited by or
due from the Agent or any Lender, or from any such affiliate of the Agent or any Lender, to
the Borrower may to the fullest extent not prohibited by applicable law at any time or from
time to time, without regard to the existence, sufficiency or adequacy of any other
collateral, and without notice or compliance with any other condition precedent now or
hereafter imposed by statute, rule of law or otherwise, all of which are hereby waived, be
set off, debited and appropriated, and applied by the Agent or any Lender, as the case may
be, against any or all of the Obligations irrespective of whether demand shall have been
made and although such Obligations may be unmatured, in such manner as the Agent or the
applicable Lender in its sole and absolute discretion may determine. Within five (5)
Business Days of making any such set off, debit or appropriation and application, the Agent
agrees to notify the Borrower thereof, provided that the failure to give such notice shall
not affect the validity of such set off, debit or
appropriation and application. ANY AND ALL RIGHTS TO REQUIRE THE AGENT OR ANY LENDER
TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE
LOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR
OTHER PROPERTY OF THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.
Each of the Lenders agrees with each other Lender that (a) if an amount to be set off is to
be applied to indebtedness of the Borrower to such Lender, other than the obligations
evidenced by the Note held by such Lender, such amount shall be applied ratably to such
other indebtedness and to the obligations evidenced by the Note held by such Lender, and
(b) if such Lender shall receive from the Borrower, whether by voluntary payment, exercise
of the

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right of setoff, counterclaim, cross action, enforcement of the claim evidenced by
the Note held by such Lender by proceedings against the Borrower at law or in equity or by
proof thereof in bankruptcy, reorganization liquidation, receivership or similar
proceedings, or otherwise, and shall retain and apply to the payment of the Note held by
such Lender any amount in excess of its ratable portion of the payments received by all of
the Lenders with respect to the Note held by all of the Lenders, such Lender will make such
disposition and arrangements with the other Lenders with respect to such excess, either by
way of distribution, pro tanto assignment of claims, subrogation or otherwise as shall
result in each Lender receiving in respect of the Note held by it its proportionate payment
as contemplated by this Agreement; provided that if all or any part of such excess payment
is thereafter recovered from such Lender, such disposition and arrangements shall be
rescinded and the amount restored to the extent of such recovery, but without interest.

     §15.3 Right to Freeze. The Agent and each of the Lenders shall also have the
right, at its option, upon the occurrence of any event which would entitle the Agent or any
Lender to set off or debit as set forth in §15.2, to freeze, block or segregate any such
deposits, balances and other sums so that the Borrower may not access, control or draw upon
the same.

     §15.4 Additional Rights. The rights of the Agent, the Lenders and each
affiliate of Administrative Agent and each of the Lenders under this Section 15 are in
addition to, and not in limitation of, other rights and remedies, including other rights of
set off, which the Agent or any Lender may have.

§16. THE AGENT.

     §16.1 Authorization.
(a) The Agent is authorized to take such action on behalf of each of the Lenders and
to exercise all such powers as are hereunder and under any of the other Loan Documents and
any related documents delegated to the Agent, together with such powers as are reasonably
incident thereto, provided that no duties or responsibilities not expressly assumed herein
or therein shall be implied to have been assumed by the Agent. The relationship between
the Agent and the Lenders is and shall be that of agent and principal only, and nothing
contained in this Agreement or any of the other Loan Documents shall be construed to
constitute the Agent as a trustee or fiduciary for any Lender.

          (b) The Borrower, without further inquiry or investigation, shall, and is hereby
authorized by the Lenders to, assume that all actions taken by the Agent hereunder and in
connection with or under the Loan Documents are duly authorized by the Lenders. The
Lenders shall notify Borrower of any successor to Agent by a writing signed by Majority
Lenders, which successor shall be reasonably acceptable to the Borrower so long as no
Default or Event of Default has occurred and is continuing. The Borrower acknowledges that
any Lender which acquires KeyBank is acceptable as a successor to the Agent.

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     §16.2 Employees and Agents. The Agent may exercise its powers and execute its
duties by or through employees or agents and shall be entitled to take, and to rely on,
advice of counsel concerning all matters pertaining to its rights and duties under this
Agreement and the other Loan Documents. The Agent may utilize the services of such Persons
as the Agent in its sole discretion may reasonably determine, and all reasonable fees and
expenses of any such Persons shall be paid by the Borrower.

     §16.3 No Liability. Neither the Agent, nor any of its shareholders,
directors, officers or employees nor any other Person assisting them in their duties nor
any agent or employee thereof, shall be liable for any waiver, consent or approval given or
any action taken, or omitted to be taken, in good faith by it or them hereunder or under
any of the other Loan Documents, or in connection herewith or therewith, or be responsible
for the consequences of any oversight or error of judgment whatsoever, except that the
Agent may be liable for losses due to its willful misconduct or gross negligence, as
finally determined by a court of competent jurisdiction.

     §16.4 No Representations. The Agent shall not be responsible for the
execution or validity or enforceability of this Agreement, the Notes or any of the other
Loan Documents or for the validity, enforceability or collectibility of any such amounts
owing with respect to the Notes, or for any recitals or statements, warranties or
representations made herein or in any of the other Loan Documents or in any
certificate or instrument hereafter furnished to it by or on behalf of the Trust or
the Borrower or any of their respective Subsidiaries, or be bound to ascertain or inquire
as to the performance or observance of any of the terms, conditions, covenants or
agreements in this Agreement or the other Loan Documents. The Agent shall not be bound to
ascertain whether any notice, consent, waiver or request delivered to it by the Borrower or
the Trust or any holder of any of the Notes shall have been duly authorized or is true,
accurate and complete. The Agent has not made nor does it now make any representations or
warranties, express or implied, nor does it assume any liability to the Lenders, with
respect to the credit worthiness or financial condition of the Borrower or any of its
Subsidiaries or the Trust or any of the Subsidiaries or any tenant under a Lease or any
other entity. Each Lender acknowledges that it has, independently and without reliance
upon the Agent or any other Lender, and based upon such information and documents as it has
deemed appropriate, made its own credit analysis and decision to enter into this Agreement.

     §16.5 Payments.

          (a) A payment by the Borrower to the Agent hereunder or any of the other Loan
Documents for the account of any Lender shall constitute a payment to such Lender on the
date received, if before 1:00 p.m. (Cleveland, Ohio time), and if after 1:00 p.m.
(Cleveland, Ohio time), on the next Business Day. The Agent agrees to distribute to each
Lender such Lender’s pro rata share of payments received by the Agent for the accounts of
all the Lenders, as provided

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herein or in any of the other Loan Documents. All such
payments by the Agent to the Lenders shall be made on the date received, if before 1:00
p.m., and if after 1:00 p.m., on the next Business Day.

          (b) If in the reasonable opinion of the Agent the distribution of any amount received
by it in such capacity hereunder, under the Notes or under any of the other Loan Documents
might involve it in material liability, it may refrain from making distribution until its
right to make distribution shall have been adjudicated by a court of competent
jurisdiction, provided that the Agent shall invest any such undistributed amounts in
overnight obligations on behalf of the Lenders and interest thereon shall be paid pro rata
to the Lenders. If a court of competent jurisdiction shall adjudge that any amount
received and distributed by the Agent is to be repaid, each Person to whom any such
distribution shall have been made shall either repay to the Agent its proportionate share
of the amount so adjudged to be repaid or shall pay over the same in such manner and to
such Persons as shall be determined by such court.

          (c) Notwithstanding anything to the contrary contained in this Agreement or any of the
other Loan Documents, any Lender that fails (i) to make available to the Agent its pro rata
share of any Loan or to purchase any Letter of Credit Participation or its participation in
one or more Swingline Loans or (ii) to adjust promptly such Lender’s outstanding principal
and its pro rata Commitment Percentage as provided in §2.1, shall be deemed delinquent (a
“Delinquent
Lender”) and shall be deemed a Delinquent Lender until such time as such delinquency
is satisfied. A Delinquent Lender shall be deemed to have assigned any and all payments
due to it from the Borrower, whether on account of outstanding Loans, interest, fees or
otherwise, to the remaining nondelinquent Lenders for application to, and reduction of,
their respective pro rata shares of all outstanding Loans. The Delinquent Lender hereby
authorizes the Agent to distribute such payments to the nondelinquent Lenders in proportion
to their respective pro rata shares of all outstanding Loans. If not previously satisfied
directly by the Delinquent Lender, a Delinquent Lender shall be deemed to have satisfied in
full a delinquency when and if, as a result of application of the assigned payments to all
outstanding Loans of the nondelinquent Lenders, the Lenders’ respective pro rata shares of
all outstanding Loans have returned to those in effect immediately prior to such
delinquency and without giving effect to the nonpayment causing such delinquency. The
Commitment of any Delinquent Lender shall be excluded for purposes of making a
determination of Majority Lenders or Unanimous Lender Approval. At the written request of
the Borrower, the Agent or, with the consent of the Agent, any Lender or an Eligible
Assignee, shall have the right (but not the obligation) to purchase from any Delinquent
Lender, and each Delinquent Lender shall, upon such request, sell and assign to the Agent,
such Lender or such Eligible Assignee, all of the Delinquent Lender’s outstanding Loans and
participations in Letters of Credit and Swingline Loans hereunder. Such sale shall be
consummated promptly after the Agent has arranged for a purchase by the Agent, a Lender or
an Eligible Assignee pursuant to an Assignment and Assumption, and at a price equal to the
outstanding

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principal balance of the Delinquent Lender’s Loans plus accrued interest and
fees, without premium or discount.

     §16.6 Holders of Notes. The Agent may deem and treat the payee of any Notes
or the Purchaser of any Letter of Credit Participation as the absolute owner or purchaser
thereof for all purposes hereof until it shall have been furnished in writing with a
different name by such payee or by a subsequent holder, assignee or transferee.

     §16.7 Indemnity. The Lenders ratably and severally agree hereby to indemnify
and hold harmless the Agent and its Affiliates from and against any and all claims, actions
and suits (whether groundless or otherwise), losses, damages, costs, expenses (including
any expenses for which the Agent has not been reimbursed by the Borrower as required by
§17), and liabilities of every nature and character arising out of or related to this
Agreement, the Notes, or any of the other Loan Documents or the transactions contemplated
or evidenced hereby or thereby, or the Agent’s actions taken hereunder or thereunder,
except to the extent that any of the same shall be directly caused by the Agent’s willful
misconduct or gross negligence, as finally determined by a court of competent jurisdiction.

     §16.8 Agent as Lender. In its individual capacity as a Lender, KeyBank shall
have the same obligations and the same rights, powers and privileges in respect to its
Commitment and the Loans made by it, and as the holder of any of the Notes and as the
purchaser of any Letter of Credit Participation, as it would have were it not also the
Agent.

     §16.9 Notification of Defaults and Events of Default. Each Lender hereby
agrees that, upon learning of the existence of a Default or an Event of Default, it shall
(to the extent notice has not previously been provided) promptly notify the Agent thereof.
The Agent hereby agrees that upon receipt of any notice under this §16.9 it shall promptly
notify the other Lenders of the existence of such Default or Event of Default.

     §16.10 Duties in Case of Enforcement. In the case one or more Events of
Default have occurred and shall be continuing, and whether or not acceleration of the
Obligations shall have occurred, the Agent shall, at the request, or may, upon the consent,
of the Majority Lenders, and provided that the Lenders have given to the Agent such
additional indemnities and assurances against expenses and liabilities as the Agent may
reasonably request, proceed to enforce the provisions of this Loan Agreement and the other
Loan Documents and the exercise of any other legal or equitable rights or remedies as it
may have hereunder or under any other Loan Document or otherwise by virtue of applicable
law, or to refrain from so acting if similarly requested by the Majority Lenders. The Agent
shall be fully protected in so acting or refraining from acting upon the instruction of the
Majority Lenders, and such instruction shall be binding upon all the Lenders. The Majority
Lenders may direct the Agent in writing as to the method and the extent

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of any such
foreclosure, sale or other disposition or the exercise of any other right or remedy, the
Lenders hereby agreeing to severally indemnify and hold the Agent harmless from all costs
and liabilities incurred in respect of all actions taken or omitted in accordance with such
direction, provided that the Agent need not comply with any such direction to the extent
that the Agent reasonably believes the Agent’s compliance with such direction may expose
the Agent to liability or be contrary to the Loan Documents or applicable law. The Agent
may, in its discretion but without obligation, in the absence of direction from the
Majority Lenders, take such interim actions as it believes reasonably necessary to preserve
the rights of the Lenders hereunder, including but not limited to petitioning a court for
injunctive relief or appointment of a receiver. Each of the Lenders acknowledges and
agrees that, except for any rights of set-off pursuant to and in accordance with §15.2
hereof, no individual Lender may separately enforce or exercise any of the provisions of
any of the Loan Documents, including without limitation the Notes, other than through the
Agent. The Agent shall advise the Lenders of all such action taken by the Agent.

     §16.11 Successor Agent. KeyBank, or any successor Agent, may resign as Agent
at any time by giving at least 30 days prior written notice thereof to the Lenders and to
the Borrower. Any such resignation shall be effective upon appointment and acceptance of a
successor Agent, as hereinafter provided, and, at the request of the Majority Lenders, the
Agent will resign if its Commitment is less than $20,000,000, unless such circumstance is a
result of events other than the sale by the Agent of its Commitment below $20,000,000.
Upon any such resignation, the Majority Lenders shall have the right to appoint a successor
Agent, which is a Lender under this Agreement, provided that so long as no Default or Event
of Default has occurred and is continuing the Borrower shall have the right to approve any
successor Agent, which approval shall not be unreasonably withheld. If, in the case of a
resignation by the Agent, no successor Agent shall have been so appointed by the Majority
Lenders and approved by the Borrower, and shall have accepted such appointment, within
thirty (30) days after the retiring Agent’s giving of notice of resignation, then the
retiring Agent may, on behalf of the Lenders, appoint any one of the other Lenders as a
successor Agent. The Borrower acknowledges that any Lender which acquires KeyBank is
acceptable as a successor Agent. Upon the acceptance of any appointment as Agent hereunder
by a successor Agent, such successor Agent shall thereupon succeed to and become vested
with all the rights, powers, privileges and duties of the retiring Agent, and the retiring
Agent shall be discharged from all further duties and obligations as Agent under this
Agreement. After any Agent’s resignation hereunder as Agent, the provisions of this §16
shall inure to its benefit as to any actions taken or omitted to be taken by it while it
was Agent under this Agreement. The Agent agrees that it shall not assign any of its
rights or duties as Agent to any other Person. The Agent may be removed at the direction of
the Majority Lenders in the event of a final judicial determination (in which the Agent had
an opportunity to be heard) that the Agent had acted in a grossly negligent manner or in
willful misconduct.

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     §16.12 Notices. Any notices or other information required hereunder to be
provided to the Agent (with copies to the Agent for each Lender) shall be forwarded by the
Agent to each of the Lenders on the same day (if practicable) and, in any case, on the next
Business Day following the Agent’s receipt thereof.

     §16.13 Other Agents. Neither the Co-Syndication Agents nor the Documentation
Agent shall have any liabilities or obligations hereunder in its capacity as such.

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§17. EXPENSES. The Borrower agrees to pay (a) the reasonable costs of producing and
reproducing this Agreement, the other Loan Documents and the other agreements and
instruments mentioned herein, (b) the reasonable fees, expenses and disbursements of the
Agent’s outside counsel or any local counsel to the Agent incurred in connection with the
preparation, administration or interpretation of the Loan Documents and other instruments
mentioned herein, each closing hereunder, and amendments, modifications, approvals,
consents or waivers hereto or hereunder, (c) the fees, expenses and disbursements of the
Agent incurred by the Agent in connection with the preparation, administration or
interpretation of the Loan Documents and other instruments mentioned herein, including,
without limitation, the costs incurred by the Agent in connection with its inspection of
the Eligible Unencumbered Properties, and, without double-counting amounts under clause (b)
above, the fees and disbursements of the Agent’s counsel in preparing the documentation,
(d) the fees, costs, expenses and disbursements of the Agent and its Affiliates incurred in
connection with the syndication and/or participations of the Loans (whether occurring
before or after the closing hereunder), including, without limitation, reasonable legal
fees, travel costs, costs of preparing syndication materials and photocopying costs, (e)
all reasonable expenses (including reasonable attorneys’ fees and costs, which attorneys
may be employees of any Lender or the Agent, and the fees and costs of engineers,
appraisers, surveyors, investment bankers, or other experts retained by any Lender or the
Agent in connection with any such enforcement proceedings) incurred by any Lender or the
Agent in connection with (i) the enforcement of or preservation of rights under any of the
Loan Documents against the Borrower or any of its Subsidiaries or the Trust or the
administration thereof after the occurrence and during the continuance of a Default or
Event of Default (including, without limitation, expenses incurred in any restructuring
and/or “workout” of the Loans), and (ii) any litigation, proceeding or dispute whether
arising hereunder or otherwise, in any way related to any Lender’s or the Agent’s
relationship with the Borrower or any of its Subsidiaries or the Trust, (f) all reasonable
fees, expenses and disbursements of the Agent incurred in connection with UCC searches and
filings, UCC terminations or mortgage discharges, and the like, and (g) all costs incurred
by the Agent in the future in connection with its inspection of the Eligible Unencumbered
Properties (or any proposed Eligible Unencumbered Property) or with the addition of any
Eligible Unencumbered Property. The covenants of this §17 shall survive the repayment of
the amounts owing under the Notes and this Agreement and the termination of this Agreement
and the obligations of the Lenders hereunder.

§18. INDEMNIFICATION. The Borrower agrees to indemnify and hold harmless the Agent and
each of the Lenders and the shareholders, directors, agents, officers, subsidiaries and
affiliates of the Agent and each of the Lenders from and against any and all claims,
actions and suits, whether groundless or otherwise, and from and against any and all
liabilities, losses (including amounts, if any, owing to any Lender pursuant to §§4.4, 4.5,
4.6 and 4.8), settlement payments, obligations, damages and expenses of every nature and
character in connection therewith, arising out of this Agreement or any of the other Loan

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Documents or the transactions contemplated hereby or thereby or which otherwise arise in
connection with the financing, including, without limitation, (a) any actual or proposed
use by the Borrower or any of its Subsidiaries of the proceeds of any of the Loans, (b) the
Borrower or any of its Subsidiaries entering into or performing this Agreement or any of
the other Loan Documents, or (c) pursuant to §8.16, in each case including, without
limitation, the reasonable fees and disbursements of counsel and allocated costs of
internal counsel incurred in connection with any such investigation, litigation or other
proceeding, provided, however, that the Borrower shall not be obligated under this §18 to
indemnify any Person for liabilities arising from such Person’s own gross negligence,
willful misconduct or breach of this Agreement, as finally determined by a court of
competent jurisdiction. In litigation, or the preparation therefor, the Borrower shall be
entitled to select counsel reasonably acceptable to the Majority Lenders, and the Agent (as
approved by the Majority Lenders) shall be entitled to select their own supervisory
counsel, and, in addition to the foregoing indemnity, the Borrower agrees to pay promptly
the reasonable fees and expenses of each such counsel. Prior to any settlement of any such
litigation by the Lenders, the Lenders shall provide the Borrower and the Trust with notice
and an opportunity to address any of their concerns with the Lenders, and the Lenders shall
not settle any litigation without first obtaining Borrower’s consent thereto, which consent
shall not be unreasonably withheld or delayed, provided that such consent shall not be
required at any time that an Event of Default has occurred and is continuing. If and to
the extent that the obligations of the Borrower under this §18 are unenforceable for any
reason, the Borrower hereby agrees to make the maximum contribution to the payment in
satisfaction of such obligations which is permissible under applicable law. The provisions
of this §18 shall survive the repayment of the amounts owing under the Notes and this
Agreement and the termination of this Agreement and the obligations of the Lenders
hereunder and shall continue in full force and effect as long as the possibility of any
such claim, action, cause of action or suit exists. The indemnification provisions of this
§18 shall apply to any indemnity proceeding arising during the pendency of any bankruptcy
proceeding filed by or against the Borrower and/or any of its Subsidiaries.

§19. SURVIVAL OF COVENANTS, ETC. All covenants, agreements, representations and warranties
made herein, in the Notes, in any of the other Loan Documents or in any documents or other
papers delivered by or on behalf of the Borrower or any of its Subsidiaries or the Trust
pursuant hereto shall be deemed to have been relied upon by the Lenders and the Agent,
notwithstanding any investigation heretofore or hereafter made by any of them, and shall
survive the making by the Lenders of any of the Loans and the issuance, extension or
renewal of any Letter of Credit, as herein contemplated, and shall continue in full force
and effect so long as any Letter of Credit or any
amount due under this Agreement or the Notes or any of the other Loan Documents remains
outstanding or any Lender has any obligation to make any Loans or purchase Letter of Credit
Participations or the Fronting Bank has any obligation to issue, extend or renew Letters of
Credit. The indemnification obligations of the Borrower provided

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herein and in the other
Loan Documents shall survive the full repayment of amounts due and the termination of the
obligations of the Lenders hereunder and thereunder to the extent provided herein and
therein. All statements contained in any certificate or other paper delivered to any
Lender or the Agent at any time by or on behalf of the Borrower or any of its Subsidiaries
or the Trust pursuant hereto or in connection with the transactions contemplated hereby
shall constitute representations and warranties by the Borrower or such Subsidiary or the
Trust hereunder.

§20. ASSIGNMENT; PARTICIPATIONS; ETC.

     §20.1 Conditions to Assignment by Lenders. Except as provided herein, each
Lender may assign to one or more Eligible Assignees all or a portion (in a minimum amount
of $5,000,000) of its interests, rights and obligations under this Agreement (including all
or a portion of its Commitment Percentage and Commitment and the same portion of the Loans
at the time owing to it, the Notes held by it and its participating interest in the risk
relating to any Letters of Credit); provided that (a) other than during the continuance of
an Event of Default, the Agent, the Swingline Lender, the Fronting Bank and the Borrower
each shall have the right to approve any assignment to an Eligible Assignee, which approval
shall not be unreasonably withheld or delayed, (b) subject to the provisions of §2.7, each
Lender shall have at all times an amount of its Commitment of not less than $5,000,000
unless otherwise consented to by the Agent and (c) the parties to such assignment shall
execute and deliver to the Agent, for recording in the Register (as hereinafter defined),
an assignment and assumption, substantially in the form of Exhibit D hereto (an “Assignment
and Assumption”), together with any Notes subject to such assignment. Upon such execution,
delivery, acceptance and recording, from and after the effective date specified in each
Assignment and Assumption, which effective date shall be at least two (2) Business Days
after the execution thereof unless otherwise agreed or accepted by the Agent (provided any
assignee has assumed the obligation to fund any outstanding Libor Rate Loans), (i) the
assignee thereunder shall be a party hereto and, to the extent provided in such Assignment
and Assumption, have the rights and obligations of a Lender hereunder and thereunder, and
(ii) the assigning Lender shall, to the extent provided in such assignment and upon payment
to the Agent of the registration fee referred to in §20.3, be released from its obligations
under this Agreement. Any such Assignment and Assumption shall run to the benefit of the
Borrower and a copy of any such Assignment and Assumption shall be delivered by the
Assignor to the Borrower.

     Notwithstanding the provisions of subclause (a) of the preceding paragraph, any Lender may,
without the consent of the Borrower, make an assignment otherwise permitted hereunder to (x)
another Lender, and (y) an Affiliate of such Lender, provided that such Affiliate is an Eligible
Assignee. In no event may any Lender assign or participate (under §20.5) all or any portion of its
Loans or Commitment to the Borrower or any of its Subsidiaries or Affiliates.

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     §20.2 Certain Representations and Warranties; Limitations; Covenants. By
executing and delivering an Assignment and Assumption, the parties to the assignment
thereunder confirm to and agree with each other and the other parties hereto as follows:
(a) other than the representation and warranty that it is the legal and beneficial owner of
the interest being assigned thereby free and clear of any adverse claim, the assigning
Lender makes no representation or warranty and assumes no responsibility with respect to
any statements, warranties or representations made in or in connection with this Agreement
or the execution, legality, validity, enforceability, genuineness, sufficiency or value of
this Agreement, the other Loan Documents or any other instrument or document furnished
pursuant hereto; (b) the assigning Lender makes no representation or warranty and assumes
no responsibility with respect to the financial condition of the Borrower and its
Subsidiaries or the Trust or any other Person primarily or secondarily liable in respect of
any of the Obligations, or the performance or observance by the Borrower and its
Subsidiaries or the Trust or any other Person primarily or secondarily liable in respect of
any of the Obligations of any of their obligations under this Agreement or any of the other
Loan Documents or any other instrument or document furnished pursuant hereto or thereto;
(c) such assignee confirms that it has received a copy of this Agreement, together with
copies of the most recent financial statements referred to in §7.4 and §8.4 and such other
documents and information as it has deemed appropriate to make its own credit analysis and
decision to enter into such Assignment and Assumption; (d) such assignee will,
independently and without reliance upon the assigning Lender, the Agent or any other Lender
and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under this
Agreement; (e) such assignee represents and warrants that it is an Eligible Assignee; (f)
such assignee appoints and authorizes the Agent to take such action as agent on its behalf
and to exercise such powers under this Agreement and the other Loan Documents as are
delegated to the Agent by the terms hereof or thereof, together with such powers as are
reasonably incidental thereto; (g) such assignee agrees that it will perform in accordance
with their terms all of the obligations that by the terms of this Agreement are required to
be performed by it as a Lender; (h) such assignee represents and warrants that it is
legally authorized to enter into such Assignment and Assumption; and (i) such assignee
acknowledges that it has made arrangements with the assigning Lender satisfactory to such
assignee with respect to its pro rata share of Letter of Credit Fees in respect of
outstanding Letters of Credit.

     §20.3 Register. The Agent shall maintain a copy of each Assignment and
Assumption delivered to it and a register or similar list (the “Register”) for the
recordation of the names and addresses of the Lenders and the Commitment Percentages of,
and principal amount of the Loans owing to, the Lenders from time to time. The entries in
the Register shall be conclusive, in the absence of manifest error, and the Borrower, the
Agent and the Lenders may treat each Person whose name is recorded in the Register as a
Lender hereunder for all purposes of this Agreement. The Register shall be available for
inspection by the

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Borrower and the Lenders at any reasonable time and from time to time upon reasonable
prior notice. Except in the case of an assignment by a Lender to its Affiliate, upon each
such recordation, the assigning Lender agrees to pay to the Agent a registration fee in the
sum of $2,500 and all legal fees and expenses incurred by the Agent in connection with such
assignment.

     §20.4 New Notes. Upon its receipt of an Assignment and Assumption executed by
the parties to such assignment, together with each Note subject to such assignment, the
Agent shall (a) record the information contained therein in the Register, and (b) give
prompt notice thereof to the Borrower and the Lenders (other than the assigning Lender).
Unless done simultaneously with the Assignment and Assumption, within two (2) Business Days
after receipt of such notice, the Borrower, at its own expense, shall execute and deliver
to the Agent, in exchange for each surrendered Revolving Credit Note or Swingline Note, a
new Revolving Credit Note or Swingline Note, as applicable, to the order of such Eligible
Assignee in an amount equal to the amount assumed by such Eligible Assignee pursuant to
such Assignment and Assumption and, if the assigning Lender has retained some portion of
its obligations hereunder, a new Revolving Credit Note and other Note, if applicable, to
the order of the assigning Lender in an amount equal to the amount retained by it
hereunder. Such new Notes shall provide that they are replacements for the surrendered
Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of
the surrendered Notes, shall be dated the effective date of such Assignment and Assumption
and shall otherwise be in substantially the form of the assigned Notes. The surrendered
Notes shall be canceled and returned to the Borrower.

     §20.5 Participations. Each Lender may sell participations to one or more
lending institutions or other entities in all or a portion of such Lender’s rights and
obligations under this Agreement and the other Loan Documents; provided that (a) each such
participation shall be in an amount of not less than $5,000,000, (b) any such sale or
participation shall not affect the rights and duties of the selling Lender hereunder to the
Borrower and the Agent and the Lender shall continue to exercise all approvals,
disapprovals and other functions of a Lender, (c) the only rights granted to the
participant pursuant to such participation arrangements with respect to waivers, amendments
or modifications of, or approvals under, the Loan Documents shall be the rights to approve
waivers, amendments or modifications that would reduce the principal of or the interest
rate on any Loans, extend the term or increase the amount of the Commitment of such Lender
as it relates to such participant, reduce the amount of any fees to which such participant
is entitled or extend any regularly scheduled payment date for principal or interest, and
(d) no participant shall have the right to grant further participations or assign its
rights, obligations or interests under such participation to other Persons without the
prior written consent of the Agent, which consent shall not be unreasonably withheld.

     §20.6 Pledge by Lender. Notwithstanding any other provision of this
Agreement, any Lender at no cost to the Borrower may at any time pledge all or

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any portion of its interest and rights under this Agreement (including all or any portion
of its Notes) to any of the twelve Federal Reserve Banks organized under §4 of the Federal
Reserve Act, 12 U.S.C. §341. No such pledge or the enforcement thereof shall release the
pledgor Lender from its obligations hereunder or under any of the other Loan Documents.

     §20.7 No Assignment by Borrower. The Borrower shall not assign or transfer
any of its rights or obligations under any of the Loan Documents without prior Unanimous
Lender Approval.

     §20.8 Disclosure. The Borrower agrees that, in addition to disclosures made in
accordance with standard banking practices, any Lender may disclose information obtained by
such Lender pursuant to this Agreement to assignees or participants and potential assignees
or participants hereunder.

     §20.9 Syndication. The Borrower acknowledges that each of the Agent and the
Arranger intends, and shall have the right, by itself or through its Affiliates, to
syndicate or enter into co-lending arrangements with respect to the Loans and the Total
Commitment pursuant to this §20. The Arranger, in cooperation with the Borrower, will
manage all aspects of the syndication, including the selection of co-lenders, the
determination of when Arranger will approach potential co-lenders and the final allocations
among co-lenders. Each of the Borrower and the Trust agrees to assist Arranger actively in
achieving a timely syndication that is reasonably satisfactory to the Arranger, such
assistance to include, among other things, (a) direct contact during the syndication
between the Borrower’s and the Trust’s senior officers, representatives and advisors, on
the one hand, and prospective co-lenders, on the other hand at such times and places as
Arranger may reasonably request, (b) providing to Arranger all financial and other
information with respect to the Borrower and the Trust and the transactions contemplated
hereby that Arranger may reasonably request, including but not limited to financial
projections relating to the foregoing, and (c) assistance in the preparation of a
confidential information memorandum and other marketing materials to be used in connection
with the syndication, and the Borrower and the Trust agree to cooperate with the Agent’s
and the Arranger’s and their Affiliate’s syndication and/or co-lending efforts, such
cooperation to include, without limitation, the provision of information reasonably
requested by potential syndicate members. In addition, the Borrower and the Trust agree
that, prior to and during the syndication of the Total Commitment (which for purposes
hereof shall be deemed to be completed 90 days after the Closing Date), neither the
Borrower nor the Trust will permit any offering, placement or arrangement of any competing
issues of debt securities or commercial bank facilities of the Borrower, the Trust and any
of their Subsidiaries, unless approved by the Agent.

§21. NOTICES, ETC. Except as otherwise expressly provided in this Agreement, all notices
and other communications made or required to be given pursuant to this Agreement or the
Notes shall be in writing and shall be delivered in hand, mailed by United States
registered or certified first class mail, postage

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prepaid, sent by overnight courier, or sent by facsimile and confirmed by delivery via
courier or postal service, addressed as follows:

     (i) if to the Borrower or the Trust, at 7600 Wisconsin Avenue,
11th Floor, Bethesda, Maryland 20814, attention Barry Bass, Chief
Financial Officer (facsimile: (301) 986-5554), with a copy to David
W. Braswell, Esq., Armstrong Teasdale LLP, One Metropolitan Square,
Suite 2600, St. Louis, Missouri 63102, or to such other address for
notice as the Borrower or the Trust shall have last furnished in
writing to the Agent;

     (ii) if to the Agent, Swingline Lender or Fronting Bank, to
KeyBank National Association, 127 Public Square, Cleveland,
Cleveland, OH 44114, attention John C. Scott (facsimile: (216)
689-4997), with a copy to Cheri Van Klompenberg, KeyBank
Institutional Real Estate, 1675 Broadway, Suite 400, Denver Colorado
80202 (facsimile: 720-904-4420), or such other address for notice as
the Agent shall have last furnished in writing to the Borrower, with
a copy to Pamela M. MacKenzie, Esq., Goulston & Storrs, 400 Atlantic
Avenue, Boston, Massachusetts 02110-3333 (facsimile: (617)-574-7615),
or at such other address for notice as the Agent shall last have
furnished in writing to the Person giving the notice; and

     (iii) if to any Lender, at such Lender’s address set forth on
Schedule 2 hereto, or such other address for notice as such Lender
shall have last furnished in writing to the Person giving the notice.

     Any such notice or demand shall be deemed to have been duly given or made and to have become
effective (i) if delivered by hand, overnight courier, or facsimile to the party to which it is
directed, at the time of the receipt thereof by such party or the sending of such facsimile and
(ii) if sent by registered or certified first-class mail, postage prepaid, on the third Business
Day following the mailing thereof.

          (b) Electronic Communications. Notices and other communications to the
Lenders and the Fronting Bank hereunder may be delivered or furnished by electronic
communication (including e mail and Internet or intranet websites) pursuant to procedures
approved by the Agent, provided that the foregoing shall not apply to notices to any Lender
or the Fronting Bank if such Lender or the Fronting Bank, as applicable, has notified the
Agent that it is incapable of receiving notices by electronic communication. The Agent or
the Borrower may, in its discretion, agree to accept notices and other communications to it
hereunder by electronic communications pursuant to procedures approved by

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it, provided that approval of such procedures may be limited to particular notices or
communications.

     Unless the Agent otherwise prescribes, (i) notices and other communications sent to an
electronic mail (“e-mail”) address shall be deemed received upon the sender’s receipt of an
acknowledgement from the intended recipient (such as by the “return receipt requested” function, as
available, return e-mail or other written acknowledgement), provided that if such notice or other
communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent (and received, if the acknowledgment contemplated
above has been obtained) at the opening of business on the next business day for the recipient, and
(ii) notices or communications posted to an Internet or intranet website shall be deemed received
upon the deemed receipt by the intended recipient at its e-mail address as described in the
foregoing clause (i) of notification that such notice or communication is available and identifying
the website address therefor.

          (c) The Platform. THE PLATFORM (as defined in §8.10(c)) IS PROVIDED “AS IS”
AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR
COMPLETENESS OF THE BORROWER INFORMATION OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY
DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER INFORMATION. NO WARRANTY
OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM
VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER
INFORMATION OR THE PLATFORM. In no event shall the Agent or any of its Related Parties
(collectively, the “Agent Parties”) have any liability to the Borrower, any Lender, the
Fronting Bank or any other Person for losses, claims, damages, liabilities or expenses of
any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the
Agent’s transmission of Borrower Information through the Internet, except to the extent
that such losses, claims, damages, liabilities or expenses have resulted from the gross
negligence, willful misconduct or bad faith breach of this Agreement of such Agent Party;
provided, however, that in no event shall any Agent Party have any liability to the
Borrower, any Lender, the Fronting Bank or any other Person for indirect, special,
incidental, consequential or punitive damages (as opposed to direct or actual damages).

          (d) Change of Address, Etc. Each of the Borrower, the Agent, the Fronting
Bank and the Swingline Lender may change its address, electronic mail address, telecopier
or telephone number for notices and other communications hereunder by notice to the other
parties hereto. Each other Lender may change its address, electronic mail address,
telecopier or telephone number for notices and other communications hereunder by notice to
the Borrower, the Agent, the Fronting Bank and the Swingline Lender. In addition,

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each Lender agrees to notify the Agent from time to time to ensure that the Agent has on
record (i) an effective address, contact name, telephone number, telecopier number and
electronic mail address to which notices and other communications may be sent and (ii)
accurate wire instructions for such Lender.

          (e) Reliance by Agent, Fronting Bank and Lenders. The Borrower shall
indemnify the Agent, the Fronting Bank, each Lender and the Related Parties of each of them
from all losses, costs, expenses and liabilities resulting from the good faith reliance by
such Person on each notice purportedly given by or on behalf of the Borrower, provided,
however, that the Borrower shall have no liability hereunder for any such indemnified
party’s gross negligence or willful misconduct in connection therewith. All telephonic
notices to and other telephonic communications with the Agent may be recorded by the Agent,
and each of the parties hereto hereby consents to such recording.

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§22. FPLP AS AGENT FOR THE BORROWER. The Borrower (other than FPLP) hereby appoints FPLP
as its agent with respect to the receiving and giving of any notices, requests,
instructions, reports, certificates (including, without limitation, compliance
certificates), schedules, revisions, financial statements or any other written or oral
communications hereunder. The Agent and each Lender is hereby entitled to rely on any
communications given or transmitted by FPLP as if such communication were given or
transmitted by each and every Borrower; provided however, that any communication given or
transmitted by any Borrower other than FPLP shall be binding with respect to such Borrower.
Any communication given or transmitted by the Agent or any Lender to FPLP shall be deemed
given and transmitted to each and every Borrower.

§23. GOVERNING LAW; CONSENT TO JURISDICTION AND SERVICE. THIS AGREEMENT AND EACH OF THE OTHER LOAN DOCUMENTS, EXCEPT AS OTHERWISE SPECIFICALLY
PROVIDED THEREIN, ARE CONTRACTS UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL FOR ALL
PURPOSES BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF SUCH STATE (EXCLUDING
THE LAWS APPLICABLE TO CONFLICTS OR CHOICE OF LAW). EACH OF THE BORROWER, TRUST AND THEIR
SUBSIDIARIES AGREES THAT ANY SUIT FOR THE ENFORCEMENT OF THIS AGREEMENT OR ANY OF THE OTHER
LOAN DOCUMENTS MAY BE BROUGHT IN ANY COURT IN THE STATE OF NEW YORK AND OF ANY FEDERAL
COURT LOCATED IN NEW YORK AND CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF SUCH COURTS AND
THE SERVICE OF PROCESS IN ANY SUCH SUIT BEING MADE UPON THE BORROWER, THE TRUST OR THEIR
SUBSIDIARIES BY MAIL AT THE ADDRESS SPECIFIED IN §21. THE BORROWER, THE TRUST AND THEIR
SUBSIDIARIES HEREBY WAIVE ANY OBJECTION THAT ANY OF THEM MAY NOW OR HEREAFTER HAVE TO THE
VENUE OF ANY SUCH SUIT OR ANY SUCH COURT OR THAT SUCH SUIT IS BROUGHT IN AN INCONVENIENT COURT.

§24. HEADINGS. The captions in this Agreement are for convenience of reference only and
shall not define or limit the provisions hereof.

§25. COUNTERPARTS. This Agreement and any amendment hereof may be executed in several
counterparts and by each party on a separate counterpart, each of which when so executed
and delivered shall be an original, and all of which together shall constitute one
instrument. In proving this Agreement it shall not be necessary to produce or account for
more than one such counterpart signed by the party against whom enforcement is sought.

§26. ENTIRE AGREEMENT, ETC. The Loan Documents and any other documents executed in
connection herewith or therewith express the entire understanding of the parties with
respect to the transactions contemplated hereby.

99

 

Neither this Agreement nor any term hereof may be changed, waived, discharged or
terminated, except as provided in §28.

§27. WAIVER OF JURY TRIAL AND CERTAIN DAMAGE CLAIMS. EXCEPT TO THE EXTENT EXPRESSLY
PROHIBITED BY LAW, THE BORROWER AND ITS SUBSIDIARIES HEREBY WAIVE THEIR RESPECTIVE RIGHTS
TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN
CONNECTION WITH THIS AGREEMENT, THE NOTES OR ANY OF THE OTHER LOAN DOCUMENTS, ANY RIGHTS OR
OBLIGATIONS HEREUNDER OR THEREUNDER OR THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS.
EXCEPT TO THE EXTENT EXPRESSLY PROHIBITED BY LAW, THE BORROWER AND ITS SUBSIDIARIES HEREBY
WAIVE ANY RIGHT ANY OF THEM MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION REFERRED TO IN
THE PRECEDING SENTENCE ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY
DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. EACH OF THE BORROWER AND ITS
SUBSIDIARIES (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY LENDER OR THE
AGENT HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH LENDER OR THE AGENT WOULD NOT, IN
THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS AND (B) ACKNOWLEDGES THAT
THE AGENT AND THE LENDERS HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN
DOCUMENTS TO WHICH THEY ARE PARTIES BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS
CONTAINED HEREIN.

§28. CONSENTS, AMENDMENTS, WAIVERS, ETC. Except as otherwise expressly provided in this
Agreement, any consent or approval required or permitted by this Agreement may be given,
and any term of this Agreement or of any of the other Loan Documents may be amended, and
the performance or observance by the Borrower or the Trust or any of their respective
Subsidiaries of any terms of this Agreement or the other Loan Documents or the continuance
of any Default or Event of Default may be waived (either generally or in a particular
instance and either retroactively or prospectively) with, but only with, the written
consent of the Majority Lenders.

          Notwithstanding the foregoing, the approval of each Lender directly affected thereby shall be
required for any amendment, modification or waiver of this Agreement that:

     (i) reduces or forgives any principal of any unpaid Loan or any
interest thereon (including any general waiver of interest “breakage”
costs) or any fees due to such Lender hereunder, or permits any
prepayment not otherwise permitted hereunder; or

100

 

     (ii) changes the unpaid principal amount of any Loan, reduces
the rate of interest applicable to any Loan, or reduces any fee
payable to such the Lender hereunder; or

     (iii) changes the date fixed for any payment of principal of or
interest on any Loan (including, without limitation, any extension of
the Maturity Date not contemplated herein) or any fees payable
hereunder (including, without limitation, the waiver of any monetary
Event of Default); or

     (iv) changes the amount of such Lender’s Commitment (other than
pursuant to an assignment permitted under §20.1) or increases the
amount of the Total Commitment except as permitted hereunder;

And Unanimous Lender Approval shall be required for any amendment, modification or
waiver of this Agreement that:

     (v) modifies any provision herein or in any other Loan Document
which by the terms thereof expressly requires Unanimous Lender
Approval; or

     (vi) changes the definitions of Majority Lenders or Unanimous
Lender Approval; or

     (vii) releases the Guaranty of the Trust.

     In addition, no amendment or modification to or waiver of the provisions of §2.10 may be made
without the prior written consent of the Swingline Lender or of the provisions of §2.3(f) or §§5.1
through 5.5 may be made without the prior written consent of the Fronting Bank.

     No waiver shall extend to or affect any obligation not expressly waived or impair any right
consequent thereon. No course of dealing or delay or omission on the part of the Agent or the
Lenders or any Lender in exercising any right shall operate as a waiver thereof or otherwise be
prejudicial to such right or any other rights of the Agent or the Lenders. No notice to or demand
upon the Borrower shall entitle the Borrower to other or further notice or demand in similar or
other circumstances.

     Notwithstanding the foregoing, in the event that the Borrower requests any consent, waiver or
approval under this Agreement or any other Loan Document, or an amendment or modification hereof or
thereof, and one or more Lenders determine not to consent or agree to such consent, waiver,
approval, amendment or modification, then the Lender then acting as Agent hereunder (or other
financial institution approved by the Agent that will become a Lender in connection with such
purchase) shall have the right to purchase the Commitment of such non-consenting Lender(s) at a
purchase price equal to the then outstanding amount of principal, interest and fees then owing to
such Lender(s)

101

 

by the Borrower hereunder, and such non-consenting Lender(s) shall immediately upon request,
sell and assign its Commitment and all of its other right, title and interest in the Loans and
other Obligations to the Lender then acting as Agent (or such other financial institution) pursuant
to an Assignment and Assumption (provided that the selling Lender(s) shall not be responsible to
pay any assignment fee in connection therewith).

§29. SEVERABILITY. The provisions of this Agreement are severable, and if any one clause
or provision hereof shall be held invalid or unenforceable in whole or in part in any
jurisdiction, then such invalidity or unenforceability shall affect only such clause or
provision, or part thereof, in such jurisdiction, and shall not in any manner affect such
clause or provision in any other jurisdiction, or any other clause or provision of this
Agreement in any jurisdiction.

§30. INTEREST RATE LIMITATION. Notwithstanding anything herein to the contrary, if at any
time the interest rate applicable to any Loan, together with all fees, charges and other
amounts which are treated as interest on such Loan under applicable law (collectively, the
“Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be
contracted for, charged, taken, received or reserved by the Lender holding such Loan in
accordance with applicable law, the rate of interest payable in respect of such Loan
hereunder, together with all Charges payable in respect thereof, shall be limited to the
Maximum Rate and, to the extent lawful, the interest and Charges that would have been
payable in respect of such Loan but were not payable as a result of the operation of this
§30 shall be cumulated and the interest and Charges payable to such Lender in respect of
other Loans or periods shall be increased (but not above the Maximum Rate therefor) until
such cumulated amount, together with interest thereon at the Federal Funds Rate to the date
of repayment, shall have been received by such Lender.

§31. USA PATRIOT ACT NOTIFICATION. The following notification is provided to the Borrower
pursuant to Section 326 of the USA Patriot Act of 2001, 31 U.S.C. Section 5318:

     IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government
fight the funding of terrorism and money laundering activities, Federal law requires all financial
institutions to obtain, verify, and record information that identifies each person or entity that
opens an account, including any deposit account, treasury management account, loan, other extension
of credit, or other financial services product. The Agent and/or the Lenders will ask for
Borrower’s name, taxpayer identification number, business address, and other information that will
allow the Agent and the Lenders to identify Borrower. The Agent and/or the Lenders may also ask to
see Borrower’s legal organizational documents or other identifying documents.

(Remainder of page intentionally left blank)

102

 

     IN WITNESS WHEREOF, the undersigned have duly executed this Agreement as a sealed instrument
as of the date first set forth above.

	 	 	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION,

as a Lender and as Administrative Agent, Swingline Lender and Fronting Bank

 	 
	 	By:  	/s/ John Scott
 	 
	 	 	Name:  	John Scott 	 
	 	 	Title:  	Vice President 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	WELLS FARGO NATIONAL ASSOCIATION,

as a Lender and as Co-Syndication Agent

 	 
	 	By:  	/s/ Richard J. Vanderhyde
 	 
	 	 	Name:  	Richard J. Vanderhyde 	 
	 	 	Title:  	Vice President 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	WACHOVIA BANK, NATIONAL ASSOCIATION,

as a Lender

 	 
	 	By:  	/s/  Richard J. Vanderhyde
 	 
	 	 	Name:  	Richard J. Vanderhyde 	 
	 	 	Title:  	Vice President 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	BANK OF MONTREAL, as a Lender

 	 
	 	By:  	/s/ Aaron Lanski
 	 
	 	 	Name:  	Aaron Lanski 	 
	 	 	Title:  	Director 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	PNC BANK, NATIONAL ASSOCIATION,

as a Lender and Documentation Agent

 	 
	 	By:  	/s/
Benjamin Adams	 
	 	 	Name:  	Benjamin Adams	 
	 	 	Title:  	Vice President	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	CHEVY CHASE BANK, a division of CAPITAL ONE, N.A., as a Lender

 	 
	 	By:  	/s/
Paula W. Siomon	 
	 	 	Name:  	Paula W. Siomon	 
	 	 	Title:  	Vice President	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	FIRST POTOMAC REALTY INVESTMENT LIMITED PARTNERSHIP

 	 
	 	By:  	First Potomac Realty Trust,
 	 
	 	 	its sole general partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass
 	 
	 	 	Name:  	Barry H. Bass,	 
	 	 	Title:  	Chief Financial Officer and Executive Vice President 	 
	 

	 	 	 	 	 
	 	1400 CAVALIER, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass
 	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	1441 CROSSWAYS BLVD., LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/
Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial
Officer 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	AIRPARK PLACE, LLC
 	 
	 	By:  	Airpark Place Holdings LLC
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	FP AMMENDALE COMMERCE CENTER, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	AQUIA TWO, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial
Officer 	 
	 

Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	FP DAVIS DRIVE LOT 5, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	CROSSWAYS II LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	FPR HOLDINGS LIMITED PARTNERSHIP
 	 
	 	By:  	FPR General Partner, LLC
 	 
	 	 	Its General Partner 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	FP DAVIS DRIVE LOT 5, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	FP PROPERTIES, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	FP PROPERTIES II, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	FP DIAMOND HILL, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	FP CAMPOSTELLA ROAD, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	GATEWAY HAMPTON ROADS, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	FP GATEWAY 270, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	GATEWAY MANASSAS II, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	FP 2550 ELLSMERE AVENUE, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	FP GATEWAY WEST II, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	FP GOLDENROD LANE, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP GREENBRIER CIRCLE, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	GTC I SECOND, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	FP HANOVER AB, LLC
 	 
	 	By:  	FPR Holdings Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	FPR General Partner, LLC
 	 
	 	 	Its General Partner 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	HERNDON CORPORATE CENTER, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	LINDEN II, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	LUCAS WAY HAMPTON, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP PARK CENTRAL V, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP PATRICK CENTER, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	FP PINE GLEN, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	RESTON BUSINESS CAMPUS, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP RIVERS BEND, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	FP 500 & 600 HP WAY, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP 1408 STEPHANIE WAY, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP STERLING PARK I, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

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Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	FP STERLING PARK II, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	VIRGINIA CENTER, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP WEST PARK, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

(Signatures continued on next page)

Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	FP CRONRIDGE DRIVE, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP GIRARD BUSINESS CENTER, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP GIRARD PLACE, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

(Signatures continued on next page)

Signature Page to Second Amended and Restated Revolving Credit Agreement

 

 

	 	 	 	 	 
	 	TECHCOURT, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP PARK CENTRAL I, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 
	 
	 	FP TRIANGLE, LLC
 	 
	 	By:  	First Potomac Realty Investment Limited Partnership
 	 
	 	 	Its Sole Member 	 
	 	By:  	First Potomac Realty Trust
 	 
	 	 	Its General Partner 	 
	 	 	 
	 	By:  	/s/ Barry H. Bass	 
	 	 	Name:  	Barry H. Bass 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 

Signature Page to Second Amended and Restated Revolving Credit Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]