Document:

Exhibit 10.18

 Exhibit 10.18 
 CREDIT AGREEMENT 
 DATED AS OF AUGUST 7, 2007 
 by and among 
 SAFARI VENTURES LLC, 
 AS PARENT BORROWER, 
 RHINO EQUITY LLC,

 QUILL EQUITY LLC, 
 LEMUR
PROPERTIES LLC 
 AND 
 PORPOISE
VENTURES LLC, 
 AS SUBSIDIARY BORROWERS, 
 KEYBANK NATIONAL ASSOCIATION, 
 THE OTHER LENDERS WHICH ARE PARTIES TO THIS AGREEMENT 
 AND 
 OTHER LENDERS THAT MAY BECOME

 PARTIES TO THIS AGREEMENT, 
 KEYBANK NATIONAL ASSOCIATION, 
 AS AGENT, 
 KEYBANC CAPITAL MARKETS, 
 AS SOLE LEAD ARRANGER AND SOLE BOOK MANAGER, 
 UBS SECURITIES LLC 
 AND 
 LEHMAN BROTHERS COMMERCIAL BANK, 
 AS
CO-SYNDICATION AGENTS, 
  

 AND BANK OF AMERICA, N.A. 
 AS DOCUMENTATION AGENT 
  

 CREDIT AGREEMENT 
 THIS CREDIT AGREEMENT (this “Agreement”) is made as of the 7th day of August, 2007, by and among SAFARI VENTURES LLC, a Delaware
limited liability company (“Parent Borrower”), the Subsidiary Borrowers a party hereto, KEYBANK NATIONAL ASSOCIATION (“KeyBank”), the other lending institutions which are parties to this Agreement as “Lenders”,
and the other lending institutions that may become parties hereto pursuant to §18 (together with KeyBank, the “Lenders”), and KEYBANK NATIONAL ASSOCIATION, as Agent for the Lenders (the “Agent”), and KEYBANC
CAPITAL MARKETS, as Sole Lead Arranger and Sole Book Manager. 
 R E C I T A L S 
 WHEREAS, Borrowers have requested that the Lenders provide a revolving credit and term loan facility to Borrowers; and 
 WHEREAS, the Agent and the Lenders are willing to provide such revolving credit and term loan facility to Borrowers on and subject to the terms
and conditions set forth herein; 
 NOW, THEREFORE, in consideration of the recitals herein and mutual covenants and agreements
contained herein, the parties hereto hereby covenant and agree as follows: 
 §1. DEFINITIONS AND RULES OF INTERPRETATION. 
 §1.1 Definitions. The following terms shall have the meanings set forth in this §l or elsewhere in the provisions of this Agreement
referred to below: 
 Acknowledgment. The Acknowledgment dated as of even date herewith executed by CH1 in favor of the Agent, as the
same may be modified, amended or restated. 
 Additional Principal. See §3.5. 
 Additional Commitment Request Notice. See §2.11(a). 
 Additional Subsidiary Borrower. Each additional Subsidiary of Parent Borrower which becomes a Subsidiary Borrower pursuant to §5.5. 
 Adjusted Consolidated EBITDA. On any date of determination, the sum of (a) the Consolidated EBITDA for the prior fiscal quarter most recently
ended, multiplied by four (4), less (b) the Capital Reserve. 
 Adjusted Net Operating Income. On any date of
determination, the sum of (a) the Net Operating Income for the prior fiscal quarter most recently ended, multiplied by four (4), less (b) the Capital Reserve. 
 Affiliate. An Affiliate, as applied to any Person, shall mean any other Person directly or indirectly controlling, controlled by, or under common
control with, that Person. For purposes of this definition, “control” (including, with correlative meanings, the terms 

 
“controlling”, “controlled by” and “under common control with”), as applied to any Person, means (a) the possession,
directly or indirectly, of the power to vote ten percent (10%) or more of the stock, shares, voting trust certificates, beneficial interest, partnership interests, member interests or other interests having voting power for the election of
directors of such Person or otherwise to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities or by contract or otherwise, or (b) the ownership of (i) a general
partnership interest, (ii) a managing member’s or manager’s interest in a limited liability company or (iii) a limited partnership interest or preferred stock (or other ownership interest) representing ten percent (10%) or
more of the outstanding limited partnership interests, preferred stock or other ownership interests of such Person. 
 Agent. KeyBank
National Association, acting as administrative agent for the Lenders, and its successors and assigns. 
 Agent’s Head Office. The
Agent’s head office located at 127 Public Square, Cleveland, Ohio 44114-1306, or at such other location as the Agent may designate from time to time by notice to the Borrowers and the Lenders. 
 Agent’s Special Counsel. McKenna Long & Aldridge LLP or such other counsel as selected by Agent. 
 Agreement. This Credit Agreement, including the Schedules and Exhibits hereto. 
 Agreement Regarding Fees. See §4.2. 
 Applicable Margin. 
 (a) Prior to the occurrence of the Capital Event, the Applicable Margin for LIBOR Rate Loans and Base
Rate Loans shall be as follows: 
  

			
	LIBOR Rate Loans	  	Base Rate Loans
	2.25%	  	0.50%

 Notwithstanding the foregoing, in the event that the Capital Event does not occur on or before
August 7, 2008, the Applicable Margin for LIBOR Rate Loans and Base Rate Loans shall be as follows: 
  

			
	LIBOR Rate Loans	  	Base Rate Loans
	2.50%	  	0.50%

 Such increase shall be effective immediately if the Capital Event does not occur on or before
August 7, 2008. 
 (b) On any date following the occurrence of the Capital Event, the Applicable Margin for Term LIBOR Rate Loans and
Term Base Rate Loans shall be as follows: 
  

			
	Term LIBOR Rate Loans	  	Term Base Rate Loans
	1.50%	  	0.00%

  

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 (c) On any date following the occurrence of the Capital Event, the Applicable Margin for Revolving Credit
LIBOR Rate Loans and Revolving Credit Base Rate Loans shall be as set forth below based on the ratio of the Consolidated Total Indebtedness of Parent Borrower to the Gross Asset Value of Parent Borrower: 
  

									
	 Pricing Level
	  	 Ratio
	  	Revolving
Credit
LIBOR Rate
Loans	 	 	Revolving
Credit Base
Rate Loans	 
	Pricing Level 1	  	Less than 40%	  	1.25	%	 	0.00	%
	Pricing Level 2	  	Greater than or equal to 40% but less than 50%	  	1.40	%	 	0.00	%
	Pricing Level 3	  	Greater than or equal to 50% but less than 60%	  	1.60	%	 	0.00	%
	Pricing Level 4	  	Greater than or equal to 60%	  	1.70	%	 	0.15	%

 The Applicable Margin shall not be adjusted based upon such
ratio, if at all, until the first (1st) day of the first (1st) month following the delivery by Parent Borrower to the Agent of the Compliance Certificate at the end of a calendar quarter. In the event that Parent Borrower shall fail to deliver to the Agent a quarterly Compliance Certificate on
or before the date required by §7.4(c), then without limiting any other rights of the Agent and the Lenders under this Agreement, the Applicable Margin for Revolving Credit Loans shall be at Pricing Level 4 until such failure is cured
within any applicable cure period, in which event the Applicable Margin shall adjust, if necessary, on the first (1st) day of the first (1st) month following receipt of such Compliance Certificate. 
 Appraisal. An MAI appraisal of the value of a parcel of Real Estate, determined on a “going concern” value basis, performed by an
independent appraiser with experience appraising data center properties selected by the Agent who is not an employee of any Borrower or any of their Subsidiaries, the Agent or a Lender, the form and substance of such appraisal and the identity of
the appraiser to be in compliance with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended, the rules and regulations adopted pursuant thereto and all other regulatory laws and policies (both regulatory and internal)
applicable to the Lenders and otherwise acceptable to the Agent. 
 Appraised Value. The “going concern” value of a parcel
of Real Estate determined by the most recent Appraisal of such Real Estate, obtained pursuant to §2.12, §5.2 or §10.13; subject, however, to such changes or adjustments to the value determined thereby as may be required by the
appraisal department of the Agent in its good faith business judgment based on criteria and factors generally used and considered by the Agent in determining the value of similar properties. 
  

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 Arranger. KeyBanc Capital Markets or any successor. 
 Assignment and Acceptance Agreement. See §18.1. 
 Assignment of Interests. The Assignment of Interests dated of even date herewith made by Parent Borrower in favor of Agent for the benefit of the Lenders. 
 Assignment of Leases and Rents. Each of the assignments of leases and rents from the Parent Borrower or a Subsidiary Borrower to the Agent, as it
may be modified or amended, pursuant to which there shall be assigned to the Agent for the benefit of the Lenders a security interest in the interest of the Parent Borrower or such Subsidiary Borrower as lessor with respect to all Leases of all or
any part of each Mortgaged Property, each such assignment entered into after the date hereof to be substantially in the form of Exhibit D annexed hereto, with such changes thereto as Agent may require as a result of state law or
practice. 
 Assignment of Loan Documents. The Assignment and Acceptances dated of even date herewith described on
Schedule 34 hereto. 
 Authorized Officer. Any of the following Persons: Lammot J. du Pont, Hossein Fateh and such other
Persons as Parent Borrower shall designate in a written notice to Agent. 
 Balance Sheet Date. August 7, 2007. 
 Bankruptcy Code. Title 11, U.S.C.A., as amended from time to time or any successor statute thereto. 
 Base Rate. The greater of (a) the fluctuating annual rate of interest announced from time to time by the Agent at the Agent’s Head
Office as its “prime rate” or (b) one half of one percent (0.5%) above 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 Loans. Collectively, the Revolving Credit Base Rate Loans, the Term Base Rate Loans and the Swing Loans. 
 Borrowers. Collectively, Parent Borrower and the Subsidiary Borrowers, and individually any of them. 
 Borrowing Base Availability. The Borrowing Base Availability shall be the amount which is the lesser of (a) the Borrowing Base Value and
(b) the maximum principal amount which would not cause the Borrowing Base Debt Service Coverage Ratio to be less than 1.30 to 1 (or less than 1.35 to 1 following the occurrence of the Capital Event); provided that, notwithstanding the
foregoing, the inclusion of the Borrowing Base Debt Service Coverage limitation above and the calculation of the Borrowing Base Debt Service Coverage Ratio shall not be required until the quarter ending September 30, 2007). 
  

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 Borrowing Base Debt Service Coverage Ratio. Beginning with the quarter ending September 30,
2007 and continuing thereafter, the ratio of Adjusted Net Operating Income from the Mortgaged Properties determined for the preceding fiscal quarter divided by the Implied Debt Service. 
 Borrowing Base Value. The Borrowing Base Value for Eligible Real Estate owned by Parent Borrower or any Subsidiary Borrower included in the
Mortgaged Property shall be the amount which is seventy percent (70%) (sixty-five percent (65%) following the occurrence of the Capital Event) of the sum of the Appraised Values of each Mortgaged Property as most recently determined under
§2.12(e), §5.2 or §10.13. 
 Breakage Costs. The cost to any Lender of re-employing funds bearing interest at LIBOR
incurred (or reasonably expected to be incurred) in connection with (i) any payment of any portion of the Loans bearing interest at LIBOR prior to the termination of any applicable Interest Period, (ii) the conversion of a LIBOR Rate Loan
to any other applicable interest rate on a date other than the last day of the relevant Interest Period, or (iii) the failure of a Borrower to draw down, on the first day of the applicable Interest Period, any amount as to which such Borrower
has elected a LIBOR Rate Loan. 
 Building. With respect to each Mortgaged Property or parcel of Real Estate, all of the buildings,
structures and improvements now or hereafter located thereon. 
 Business Day. Any day on which banking institutions located in the
same city and State as the Agent’s Head Office are located are open for the transaction of banking business and, in the case of LIBOR Rate Loans, which also is a LIBOR Business Day. 
 Capital Event. The Capital Event shall be deemed to have occurred upon the receipt by Agent of evidence that an equity issuance consisting of a
public or private offering of the equity of Parent Borrower or the REIT that results in the Parent Borrower or the REIT receiving Net Offering Proceeds of a minimum of $500,000,000, including proceeds from any exercised greenshoe option included as
part of such equity issuance. 
 Capital Reserve. For any period and with respect to any improved Real Estate, an amount equal to
$0.25 multiplied by the total square footage of the Buildings in such Real Estate. If the term Capital Reserve is used without reference to any specific Real Estate, then the amount shall be determined on an aggregate basis with respect to all Real
Estate of the Borrowers and their Subsidiaries and a proportionate share of all Real Estate of all Unconsolidated Affiliates. The Capital Reserve shall be calculated based on the total square footage of the Buildings owned (or ground leased) at the
end of each fiscal quarter. 
 Capitalized Lease. A lease under which the discounted future rental payment obligations of the lessee
or the obligor are required to be capitalized on the balance sheet of such Person in accordance with GAAP. 
  

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 Cash Equivalents. As of any date, (i) securities issued or directly and fully guaranteed or
insured by the United States government or any agency or instrumentality thereof having maturities of not more than one year from such date, (ii) time deposits and certificates of deposits having maturities of not more than one year from such
date and issued by any domestic commercial bank having, (A) senior long term unsecured debt rated at least A or the equivalent thereof by S&P or A2 or the equivalent thereof by Moody’s and (B) capital and surplus in excess of
$100,000,000.00; (iii) commercial paper rated at least A-1 or the equivalent thereof by S&P or P-1 or the equivalent thereof by Moody’s and in either case maturing within one hundred twenty (120) days from such date, and
(iv) shares of any money market mutual fund rated at least AAA or the equivalent thereof by S&P or at least Aaa or the equivalent thereof by Moody’s. 
 CERCLA. See §6.20. 
 Change of Control. A Change of Control shall exist upon the
occurrence of any of the following: 
 (a) Following the occurrence of the Capital Event, any Person (including a Person’s Affiliates and
associates) or group (as that term is understood under Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations thereunder), other than Lammot du Pont and Hossein Fateh
and their respective controlled Affiliates, shall have acquired beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of a percentage (based on voting power, in the event different classes of stock or voting interests shall
have different voting powers) of the voting stock or voting interests of REIT or Parent Borrower equal to at least twenty percent (20%); 
 (b) Following the occurrence of the Capital Event, as of any date a majority of the Board of Directors or Trustees or similar body (the “Board”) of REIT or Parent Borrower consists of individuals who were not either
(i) directors or trustees of REIT or Parent Borrower as of the corresponding date of the previous year, or (ii) selected or nominated to become directors or trustees by the Board of REIT or Parent Borrower of which a majority consisted of
individuals described in clause (b)(i) above, or (iii) selected or nominated to become directors or trustees by the Board of REIT or Parent Borrower, which majority consisted of individuals described in clause (b)(i) above and individuals
described in clause (b)(ii), above (excluding, in the case of both clause (ii) and (iii) above, any individual whose initial nomination for, or assumption of office as, a member of the Board occurs as a result of an actual or threatened
solicitation of proxies or consents for the election or removal of one or more directors or trustees by any Person or group other than a solicitation for the election of one or more directors or trustees by or on behalf of the Board); or 

(c) any Borrower consolidates with, is acquired by, or merges into or with any Person (other than a merger permitted by §8.4); or 
 (d) prior to the occurrence of the Capital Event, Lammot J. du Pont and Hossein Fateh fail to own in the aggregate, directly or indirectly, at least
thirty-five percent (35%) of the economic, voting and beneficial interests in Parent Borrower, and following the occurrence of the Capital Event, REIT shall fail to own at least thirty-three percent (33%) of the economic, voting and
beneficial interests in Parent Borrower, or in either case shall fail to own such interests free of any lien, encumbrance or other adverse claim (other than as to Lammot J. du Pont and Hossein Fateh the lien in favor of LBHI pursuant to the LBHI
Loan Documents); or 
  

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 (e) prior to the occurrence of the Capital Event, Managing Member shall fail to be the sole managing
member of Parent Borrower, shall fail to own such managing member interest in Parent Borrower free of any lien, encumbrance or other adverse claim, or shall fail to control the management and policies of Parent Borrower; or 
 (f) prior to the occurrence of the Capital Event, the Eden Managing Members shall fail to be the sole managing members of Managing Member, shall fail to
own such managing member interests free of any lien, encumbrance or other adverse claim other than the pledges to LBHI pursuant to the LBHI Loan Documents, or shall fail to control the management and policies of Managing Member; or 
 (g) prior to the occurrence of the Capital Event, Lammot J. du Pont shall fail to be the sole manager of Panda Interests LLC and Hossein Fateh shall
fail to be the sole manager of Mercer Interests LLC, or Lammot J. du Pont or Hossein Fateh shall fail to control the management and policies of the applicable Eden Managing Member for which it is the Manager; or 
 (h) following the occurrence of the Capital Event, REIT shall fail to be the sole general partner of Parent Borrower, shall fail to own such general
partnership interest in Parent Borrower free of any lien, encumbrance or other adverse claim, or shall fail to control the management and policies of Parent Borrower; or 
 (i) Parent Borrower fails to own directly or indirectly, free of any lien, encumbrance or other adverse claim, at least one hundred percent (100%) of the economic, voting and beneficial interest of each
Subsidiary Borrower (except that after the occurrence of the Capital Event, REIT may own up to one percent (1%) of Safari Ventures LLC); or 
 (j) Any of Lammot du Pont and Hossein Fateh shall cease to be senior management executives of Parent Borrower or upon the occurrence of the Capital Event, the REIT and a competent and experienced successor senior management executive, as
applicable, shall not be reasonably approved by the Required Lenders within three (3) months of such event; or 
 (k) There shall be any
foreclosure, conveyance in lieu thereof or any other realization upon any of the collateral under the LBHI Loan Documents. 
 CH1.
Tarantula Ventures LLC, a Delaware limited liability company. 
 CH1 Recognition Agreement. That certain Recognition Agreement dated
of even date herewith between Agent and LBHI relating to the Assignment of Interests. 
 Closing Date. The first date on which all of
the conditions set forth in §10 and §11 have been satisfied. 
 Code. The Internal Revenue Code of 1986, as amended.

  

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 Collateral. All of the property, rights and interests of the Borrowers which are subject to the
security interests, security title, liens and mortgages created by the Security Documents, including, without limitation, the Mortgaged Properties. 
 Commitment. With respect to each Lender, the aggregate of (a) the Revolving Credit Commitment of such Lender and (b) the Term Loan Commitment of such Lender. 
 Commitment Increase. An increase in the Total Revolving Credit Commitment to not more than $475,000,000.00 pursuant to §2.11. 
 Commitment Increase Date. See §2.11(a). 
 Commitment Percentage. With respect to each Lender, the percentage set forth on Schedule 1.1 hereto as such Lender’s percentage of the aggregate Commitments of all of the Lenders, as the same may be changed from time to
time in accordance with the terms of this Agreement. 
 Compliance Certificate. See §7.4(c). 
 Condemnation Proceeds. All compensation, awards, damages, judgments and proceeds awarded to a Borrower by reason of any Taking, net of all
reasonable and customary amounts actually expended to collect the same. 
 Consolidated. With reference to any term defined herein,
that term as applied to the accounts of a Person and its Subsidiaries, determined on a consolidated basis in accordance with GAAP. 
 Consolidated EBITDA. With respect to any period, an amount equal to the EBITDA of Parent Borrower and its Subsidiaries for such period determined on a Consolidated basis. 
 Consolidated Fixed Charges. For any period, the sum of (a) Consolidated Interest Expense for such period, plus (b) all regularly
scheduled principal payments made with respect to Indebtedness of Parent Borrower and its Subsidiaries during such period, other than any balloon, bullet or similar principal payment which repays such Indebtedness in full, plus (c) all
Preferred Distributions paid during such period. Such Person’s Equity Percentage in the Fixed Charges of its Unconsolidated Affiliates shall be included in the determination of Fixed Charges. 
 Consolidated Interest Expense. For any period, without duplication, (a) total Interest Expense of Parent Borrower and its Subsidiaries
determined on a consolidated basis in accordance with GAAP for such period, plus (b) such Person’s Equity Percentage of Interest Expense of its Unconsolidated Affiliates for such period. 
 Consolidated Tangible Net Worth. The amount by which Gross Asset Value exceeds Consolidated Total Indebtedness. 
  

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 Consolidated Total Indebtedness. All Indebtedness of Parent Borrower and its Subsidiaries
determined on a consolidated basis and shall include (without duplication), such Person’s Equity Percentage of the Indebtedness of its Unconsolidated Affiliates. 
 Contribution Agreement. That certain Contribution Agreement dated of even date herewith among Parent Borrower, the Subsidiary Borrowers and each Additional Subsidiary Borrower which may hereafter become a party
thereto, as the same may be modified, amended or ratified from time to time. 
 Conversion/Continuation Request. A notice given by the
Borrowers to the Agent of its election to convert or continue a Loan in accordance with §4.1. 
 Data Center Property. Highly
specialized, secure single or multi-tenant facilities used for housing a large number of computer servers and the key infrastructure, including generators and heating, ventilation and air conditioning, or HVAC systems, necessary to power and cool
the servers. 
 Debt Offering. The issuance and sale by Parent Borrower or any of its Subsidiaries of any debt securities of Parent
Borrower. 
 Default. See §12.1. 
 Default Rate. See §4.12. 
 Delinquent Lender. See §14.5(c). 
 Derivatives Contract. Any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps,
commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward
foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of
any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement. Not in limitation of the foregoing, the term “Derivatives Contract”
includes any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any
International Foreign Exchange Master Agreement, or any other master agreement, including any such obligations or liabilities under any such master agreement. 
 Derivatives Termination Value. In respect of any one or more Derivatives Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Derivatives Contracts,
(a) for any date on or after the date such Derivatives Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause
(a) the amount(s) determined as the mark-to-market value(s) for such Derivatives Contracts, as 

  

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determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Derivatives Contracts (which may
include the Agent or any Lender). 
 Development Property. Real Estate currently under development that has not become a Stabilized
Property or on which the improvements related to the development have not been completed, provided that such a Development Property on which all improvements related to the development of such Real Estate have been substantially completed (excluding
tenants improvements) for at least twenty-four (24) months shall cease to constitute a Development Property notwithstanding the fact that such Property has not become a Stabilized Property, and shall be considered a Stabilized Property for the
purposes of the calculation of Gross Asset Value. 
 Distribution. Any (a) dividend or other distribution, direct or indirect, on
account of any Equity Interest of Parent Borrower, a Subsidiary Borrower, or any of their respective Subsidiaries now or hereafter outstanding, except a dividend payable solely in Equity Interests of identical class to the holders of that class;
(b) redemption, conversion, exchange, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any Equity Interest of Parent Borrower, a Subsidiary Borrower or any of their respective
Subsidiaries now or hereafter outstanding; and (c) payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire any Equity Interests of Parent Borrower, a Subsidiary Borrower, or any of
their respective Subsidiaries now or hereafter outstanding. 
 Dollars or $. Dollars in lawful currency of the United States of
America. 
 Domestic Lending Office. Initially, the office of each Lender designated as such on Schedule 1.1 hereto;
thereafter, such other office of such Lender, if any, located within the United States that will be making or maintaining Base Rate Loans. 
 Drawdown Date. The date on which any Loan is made or is to be made, and the date on which any Loan which is made prior to the Revolving Credit Maturity Date or the Term Loan Maturity Date, as applicable, is converted in accordance
with §4.1. 
 EBITDA. With respect to a Person for any period (without duplication): The net income (or loss) before
(i) interest, income taxes, depreciation, and amortization expense, as reported by such Person and its Subsidiaries on a consolidated basis in accordance with GAAP and (ii) any other non-cash expense to the extent not actually paid as a
cash expense. EBITDA also shall exclude extraordinary gains and losses (including but not limited to gains (and loss) on the sale of assets) and distributions to minority owners. EBITDA attributable to equity interests shall be excluded but EBITDA
shall include a Person’s Equity Percentage of net income (or loss) from Unconsolidated Affiliates plus its Equity Percentage of interest, depreciation and amortization expense from Unconsolidated Affiliates. Prior to the occurrence of the
Capital Event, due to the fact that corporate G&A is a nominal expense, corporate G&A shall not be included in the calculation of EBITDA. 
  

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 Eden Managing Members. Collectively, Panda Interests LLC, a Virginia limited liability company,
and Mercer Interests LLC, a Delaware limited liability company, and individually either of them. 
 Eligible Real Estate. Real Estate:

 (a) which is wholly-owned in fee (or leased under a ground lease acceptable to the Agent in its reasonable discretion) by Parent Borrower
or a Subsidiary Borrower; 
 (b) which is located within the 50 States of the continental United States or the District of Columbia;

 (c) which is improved by an income-producing Data Center Property; 
 (d) as to which all of the representations set forth in §6 of this Agreement concerning Mortgaged Property are true and correct; 
 (e) as to which the Agent and the Required Lenders, as applicable, have received and approved all Eligible Real Estate Qualification Documents, or will
receive and approve them prior to inclusion of such Real Estate as a Mortgaged Property; and 
 (f) as to which, notwithstanding anything to
the contrary contained herein, but subject to the last sentence of §5.3(a), the Agent and the Required Lenders have approved for inclusion in the Borrowing Base. 
 Eligible Real Estate Qualification Documents. See Schedule 1.2 attached hereto. 
 Employee Benefit Plan. Any employee benefit plan within the meaning of §3(3) of ERISA maintained or contributed to by any Borrower or any ERISA Affiliate, other than a Multiemployer Plan. 
 Environmental Engineer. AEI Consultants or another firm of independent professional engineers or other scientists generally recognized as expert
in the detection, analysis and remediation of Hazardous Substances and related environmental matters and acceptable to the Agent in its reasonable discretion. 
 Environmental Laws. As defined in the Indemnity Agreements. 
 Equity Interests. With respect
to any Person, any share of capital stock of (or other ownership or profit interests in) such Person, any warrant, option or other right for the purchase or other acquisition from such Person of any share of capital stock of (or other ownership or
profit interests in) such Person, any security convertible into or exchangeable for any share of capital stock of (or other ownership or profit interests in) such Person or warrant, right or option for the purchase or other acquisition from such
Person of such shares (or such other interests), and any other ownership or profit interest in such Person (including, without limitation, partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such share,
warrant, option, right or other interest is authorized or otherwise existing on any date of determination. 
  

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 Equity Offering. The issuance and sale after the Closing Date by Parent Borrower or any of its
Subsidiaries or REIT of any equity securities of such Person. 
 Equity Percentage. The aggregate ownership percentage of a Borrower
or their respective Subsidiaries in each Unconsolidated Affiliate. 
 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 Parent Borrower or
its Subsidiaries 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 as to which the requirement of notice has not been waived. 
 Event of Default. See §12.1. 
 Excess Cash Flow. As of any date of determination, an amount equal to
(a) Consolidated EBITDA for the prior month or other applicable period under this Agreement less (b) Consolidated Fixed Charges for the prior month or other applicable period under this Agreement. 
 Federal Funds Effective Rate. For any day, the rate per annum (rounded upward to the nearest one-hundredth of one percent (1/100 of 1%)) announced
by the Federal Reserve Bank of Cleveland on such day as being the weighted average of the rates on overnight federal funds transactions arranged by federal funds brokers on the previous trading day, as computed and announced by such Federal Reserve
Bank in substantially the same manner as such Federal Reserve Bank computes and announces the weighted average it refers to as the “Federal Funds Effective Rate.” 
 Funds from Operations. With respect to any Person for any period, an amount equal to the Net Income (or Loss) of such Person for such period,
computed in accordance with GAAP, excluding losses from sales of property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures
will be recalculated to reflect funds from operations on the same basis. 
 GAAP. Principles that are (a) consistent with the
principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors, as in effect from time to time and (b) consistently applied with past financial statements of the Person adopting the same principles.

 Gross Asset Value. On a consolidated basis for Parent Borrower and its Subsidiaries, Gross Asset Value shall mean the sum of
(without duplication with respect to any Real Estate): 
 (i) the Appraised Value of any Real Estate owned by Parent Borrower or any of its
Subsidiaries which is a Stabilized Property; plus 
  

 12 

 (ii) the book value determined in accordance with GAAP of all Development Properties owned by Parent
Borrower or any of its Subsidiaries; plus 
 (iii) the aggregate amount of all Unrestricted Cash and Cash Equivalents of Parent Borrower and
its Subsidiaries as of the date of determination; plus 
 (iv) the book value determined in accordance with GAAP of Land Assets of Parent
Borrower and its Subsidiaries. 
 Development Properties that have just become Stabilized Properties and newly acquired properties may be included at book
value determined in accordance with GAAP for up to ninety (90) days pending determination of the Appraised Value. Gross Asset Value will be adjusted, as appropriate, for acquisitions, dispositions and other changes to the portfolio during the
calendar quarter most recently ended prior to a date of determination. All income, expense and value associated with assets included in Gross Asset Value disposed of during the calendar quarter period most recently ended prior to a date of
determination will be eliminated from calculations. Additionally, without limiting or affecting any other provision hereof, Gross Asset Value shall not include any income or value associated with Real Estate which is not operated or intended to be
operated principally as a Data Center Property. Gross Asset Value will be adjusted to include an amount equal to Parent Borrower’s or any of its Subsidiaries’ pro rata share (based upon such Person’s Equity Percentage in such
Unconsolidated Affiliate) of the Gross Asset Value attributable to any of the items listed above in this definition owned by such Unconsolidated Affiliate. 
 Guaranteed Pension Plan. Any employee pension benefit plan within the meaning of §3(2) of ERISA maintained or contributed to by any Borrower or any ERISA Affiliate 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. 
 Hazardous Substances. As
defined in the Indemnity Agreements. 
 Hedge Obligations. All obligations of Borrowers to any Lender Hedge Provider to make any
termination payments under any agreement with respect to an interest rate swap, collar, cap or floor or a forward rate agreement or other agreement regarding the hedging of interest rate risk exposure, and any confirming letter executed pursuant to
such hedging agreement, all as amended, restated or otherwise modified. 
 Implied Debt Service. On any date of determination, an
amount equal to the annual principal and interest payment sufficient to amortize in full during a thirty (30) year period, a loan in an amount equal to the sum of the aggregate principal balance of Loans and Letters of Credit Liabilities as of
such date, calculated using an interest rate equal to the greater of (a) the then current annual yield on ten (10) year obligations issued by the United States Treasury most recently prior to the date of determination as determined by the
Agent plus one and one half percent (1.5%) and (b) six and one-quarter percent (6.25%). 
  

 13 

 Increase Notice. See §2.11(a). 
 Indebtedness. With respect to a Person, at the time of computation thereof, all of the following (without duplication): (a) all obligations
of such Person in respect of money borrowed (other than trade debt incurred in the ordinary course of business which is not more than one hundred eighty (180) days past due); (b) all obligations of such Person, whether or not for money
borrowed (i) represented by notes payable, or drafts accepted, in each case representing extensions of credit, (ii) evidenced by bonds, debentures, notes or similar instruments, or (iii) constituting purchase money indebtedness,
conditional sales contracts, title retention debt instruments or other similar instruments, upon which interest charges are customarily paid or that are issued or assumed as full or partial payment for property or services rendered;
(c) obligation of such Person as a lessee or obligor under a Capitalized Lease; (d) all reimbursement obligations of such Person under any letters of credit or acceptances (whether or not the same have been presented for payment);
(e) all Off-Balance Sheet Obligations of such Person; (f) all obligations of such Person in respect of any purchase obligation, repurchase obligation, takeout commitment or forward equity commitment, in each case evidenced by a binding
agreement (excluding any such obligation to the extent the obligation can be satisfied by the issuance of Equity Interests), (g) net obligations under any Derivatives Contract not entered into as a hedge against existing Indebtedness, in an
amount equal to the Derivatives Termination Value thereof; (h) all Indebtedness of other Persons which such Person has guaranteed or is otherwise recourse to such Person (except for guaranties of customary exceptions for fraud, misapplication
of funds, environmental indemnities, violation of “special purpose entity” covenants, and other similar exceptions to recourse liability until a claim is made with respect thereto, and then shall be included only to the extent of the
amount of such claim), including liability of a general partner in respect of liabilities of a partnership in which it is a general partner which would constitute “Indebtedness” hereunder, any obligation to supply funds to or in any manner
to invest directly or indirectly in a Person, to maintain working capital or equity capital of a Person or otherwise to maintain net worth, solvency or other financial condition of a Person, to purchase indebtedness, or to assure the owner of
indebtedness against loss, including, without limitation, through an agreement to purchase property, securities, goods, supplies or services for the purpose of enabling the debtor to make payment of the indebtedness held by such owner or otherwise;
(i) all Indebtedness of another Person secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property or assets owned by such Person, even though such Person has
not assumed or become liable for the payment of such Indebtedness or other payment obligation; and (j) such Person’s pro rata share of the Indebtedness (based upon its Equity Percentage in such Unconsolidated Affiliates) of any
Unconsolidated Affiliate of such Person. “Indebtedness” shall be adjusted to remove any impact of intangibles pursuant to FAS 141, as issued by the Financial Accounting Standards Board in June of 2001. 
 Indemnity Agreements. The Indemnity Agreement Regarding Hazardous Materials made by the Borrowers and each Additional Subsidiary Borrower in favor
of the Agent and the Lenders, as the same may be modified, amended or ratified, pursuant to which the Borrowers agree to indemnify the Agent and the Lenders with respect to Hazardous Substances and Environmental Laws. 
  

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 Independent Director/Manager. An individual who shall not have been at the time of such
individual’s initial appointment, and may not have been at any time during the preceding five years, and shall not be at any time while serving as an Independent Director/Manager of an SPE Entity or a Subsidiary Borrower if a single member
limited liability company or, if applicable, either (a) a shareholder of, or an officer, director, partner or employee of, any Borrower or any SPE Entity or any of their respective shareholders, partners, members, subsidiaries or Affiliates,
(b) a customer of, or supplier to, any Borrower or any SPE Entity or any of their respective shareholders, partners, members, subsidiaries or Affiliates, (c) a person or other entity controlling, controlled by or under common control with
any such shareholder, officer, director, partner, member, employee, supplier or customer, or (d) a member of the immediate family of any such shareholder, officer, director, partner, member, employee, supplier or customer. 
 Insurance Proceeds. All insurance proceeds, damages and claims and the right thereto under any insurance policies relating to any portion of any
Collateral, net of all reasonable and customary amounts actually expended to collect the same. 
 Interest Expense. For any period
with respect to Parent Borrower and its Subsidiaries, without duplication, (a) interest (whether accrued or paid) actually payable (without duplication), excluding non-cash interest expense but including capitalized interest (less capitalized
interest not paid to third parties) not funded under a construction loan, together with the interest portion of payments on Capitalized Leases, plus (b) Parent Borrower’s and its respective Subsidiaries’ Equity Percentage of
Interest Expense of their Unconsolidated Affiliates for such period. 
 Interest
Payment Date. As to each Base Rate Loan, the first (1st) day of each calendar month during the term of such Base Rate Loan. As to each LIBOR Rate
Loan, the last day of each Interest Period relating thereto; provided, however, that in the event that an Interest Period shall be for longer than three (3) months, interest shall also be payable with respect to such LIBOR Rate
Loan on the ninetieth (90th) day following the commencement of the applicable Interest Period. 
 Interest Period. With
respect to each LIBOR Rate Loan (a) initially, the period commencing on the Drawdown Date of such LIBOR Rate Loan and ending one, two, three or six months thereafter (provided, however, until the completion of the syndication of
the Loan as determined by Agent, the interest period for any LIBOR Rate Loan shall be one month), and (b) thereafter, each period commencing on the day following the last day of the next preceding Interest Period applicable to such Loan and
ending on the last day of one of the periods set forth above, as selected by the Borrowers in a Loan Request or Conversion/Continuation 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 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; 
  

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 (ii) if the Borrowers shall fail to give notice as provided in §4.1, the Borrowers shall be deemed
to have requested a continuation of the affected LIBOR Rate Loan as a LIBOR Rate Loan on the last day of the then current Interest Period with respect thereto as provided in and subject to the terms of §4.1(c); 
 (iii) any Interest Period pertaining to a 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 end on the last Business Day of the applicable calendar month; and 
 (iv) no Interest Period relating to any LIBOR Rate Loan shall extend beyond the Revolving Credit Maturity Date or Term Loan Maturity Date, as applicable. 
 International Investments. Investments in fee or leasehold interests in Data Center Properties located in Western Europe or Asia. Such Data Center
Properties must be located in sizeable cities in countries with well developed real estate debt and equity capital markets, as reasonably determined by Agent. 
 Investments. With respect to any Person, all shares of capital stock, evidences of Indebtedness and other securities issued by any other Person and owned by such Person, all loans, advances, or extensions of
credit to, or contributions to the capital of, any other Person, all purchases of the securities or business or integral part of the business of any other Person and commitments and options to make such purchases, all interests in real property, and
all other investments; provided, however, that the term “Investment” shall not include (i) equipment, inventory and other tangible personal property acquired in the ordinary course of business, or (ii) current trade
and customer accounts receivable for services rendered in the ordinary course of business and payable in accordance with customary trade terms. In determining the aggregate amount of Investments outstanding at any particular time: (a) there
shall be included as an Investment all interest accrued with respect to Indebtedness constituting an Investment unless and until such interest is paid; (b) there shall be deducted in respect of each Investment any amount received as a return of
capital; (c) there shall not be deducted in respect of any Investment any amounts received as earnings on such Investment, whether as dividends, interest or otherwise, except that accrued interest included as provided in the foregoing clause
(a) may be deducted when paid; and (d) there shall not be deducted in respect of any Investment any decrease in the value thereof. 
 Issuing Lender. KeyBank, in its capacity as the Lender issuing the Letters of Credit and any successor thereto. 
 Joinder
Agreement. The Joinder Agreement with respect to this Agreement, the Notes, Contribution Agreement and Indemnity Agreement to be executed and delivered pursuant to §5.5 by any Additional Subsidiary Borrower, such Joinder Agreement to be
substantially in the form of Exhibit E hereto. 
 KeyBank. As defined in the preamble hereto. 
  

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 Land Assets. Land with respect to which the commencement of grading, construction of improvements
(other than improvements that are not material and are temporary in nature) or infrastructure has not yet commenced and for which no such work is reasonably scheduled to commence within the following twelve (12) months. 
 LBHI. Lehman Brothers Holdings, Inc. 
 LBHI Loan Documents. See §6.32. 
 Leased Rate. With respect to Real Estate at any time, the ratio, expressed as a
percentage, of (a) the Net Rentable Area of such Real Estate actually leased by tenants that are not affiliated with the Borrowers and paying rent at rates not materially less than rates generally prevailing at the time the applicable lease was
entered into, pursuant to binding leases as to which no default has occurred and has continued unremedied for 30 or more days to (b) the aggregate Net Rentable Area of such Real Estate. 
 Leases. Leases, licenses and agreements, whether written or oral, relating to the use or occupation of space in any Building or of any Real
Estate. 
 Lender Hedge Provider. With respect to any Hedge Obligations, any counterparty thereto that, at the time the applicable
hedge agreement was entered into, was a Lender or an Affiliate of a Lender. 
 Lenders. KeyBank, the other lending institutions which
are party hereto and any other Person which becomes an assignee of any rights of a Lender pursuant to §18 (but not including any participant as described in §18); and collectively, the Revolving Credit Lenders, the Term Loan Lenders and
the Swing Line Lender. The Issuing Lender shall be a Revolving Credit Lender, as applicable. 
 Letter of Credit. Any standby letter
of credit issued at the request of the Borrowers and for the account of the Borrowers in accordance with §2.10. 
 Letter of Credit
Liabilities. At any time and in respect of any Letter of Credit, the sum of (a) the maximum undrawn face amount of such Letter of Credit plus (b) the aggregate unpaid principal amount of all drawings made under such Letter of Credit
which have not been repaid (including repayment by a Revolving Credit Loan). For purposes of this Agreement, a Revolving Credit Lender (other than the Revolving Credit Lender acting as the Issuing Lender) shall be deemed to hold a Letter of Credit
Liability in an amount equal to its participation interest in the related Letter of Credit under §2.10, and the Revolving Credit Lender acting as the Issuing Lender shall be deemed to hold a Letter of Credit Liability in an amount equal to its
retained interest in the related Letter of Credit after giving effect to the acquisition by the Revolving Credit Lenders other than the Revolving Credit Lender acting as the Issuing Lender of their participation interests under such Section.

 Letter of Credit Request. See §2.10(a). 
 LIBOR. For any LIBOR Rate Loan for any Interest Period, the average rate as shown in Dow Jones Markets (formerly Telerate) (Page 3750) (or any successor to Dow Jones 

  

 17 

 
Markets, or if such Person no longer reports such rate as determined by Agent, by another commercially available source providing such quotations approved by
Agent) 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 Dow Jones Markets or such
other Person approved by Agent described above 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, Loans shall accrue
interest at the Base Rate plus the Applicable Margin for such Loan. For any period during which a Reserve Percentage shall apply, LIBOR with respect to LIBOR Rate Loans shall be equal to the amount determined above divided by an amount equal to 1
minus the Reserve Percentage. 
 LIBOR Business Day. Any day on which commercial banks are open for international business (including
dealings in Dollar deposits) in London, England. 
 LIBOR Lending Office. Initially, the office of each Lender designated as such on
Schedule 1.1 hereto; thereafter, such other office of such Lender, if any, that shall be making or maintaining LIBOR Rate Loans. 
 LIBOR Rate Loans. Collectively, the Revolving Credit LIBOR Rate Loans and the Term LIBOR Rate Loans. 
 Lien. See
§8.2. 
 Loan Documents. This Agreement, the Notes, the Letter of Credit Request, the Security Documents and all other documents,
instruments or agreements now or hereafter executed or delivered by or on behalf of the Borrowers in connection with the Loans. 
 Loan
Request. See §2.7. 
 Loan and Loans. An individual loan or the aggregate loans (including a Revolving Credit Loan (or
Loans), Term Loan (or Loans) and a Swing Loan (or Loans)), as the case may be, to be made by the Lenders hereunder. All Loans shall be made in Dollars. Amounts drawn under a Letter of Credit shall also be considered Revolving Credit Loans as
provided in §2.10(f). 
 Lock-Out Period. The period from the date of this Agreement through and including August 7, 2008.

 Majority Revolving Credit Lenders. As of any date, any Revolving Credit Lender or collection of Revolving Credit Lenders whose
aggregate Revolving Credit Commitment Percentage is greater than fifty percent (50%); provided that in determining said percentage at any given time, all the existing Revolving Credit Lenders that are Delinquent Lenders will be disregarded and
excluded and the Revolving Credit Commitment Percentages of the Revolving Credit Lenders shall be redetermined for voting purposes only to exclude the Revolving Credit Commitment Percentages of such Delinquent Lenders. 
  

 18 

 Management Agreements. Agreements, whether written or oral, providing for the management of the
Mortgaged Properties or any of them. 
 Managing Member. Eden Management LLC, a Delaware limited liability company. 
 Material Adverse Effect. A material adverse effect on (a) the business, properties, assets, condition (financial or otherwise) or results of
operations of Parent Borrower and its Subsidiaries considered as a whole; (b) the ability of Parent Borrower or any Subsidiary Borrower to perform any of its material obligations under the Loan Documents; or (c) the validity or
enforceability of any of the Loan Documents or the rights or remedies of Agent or the Lenders thereunder. 
 Moody’s.
Moody’s Investor Service, Inc. 
 Mortgaged Property or Mortgaged Properties. The Eligible Real Estate owned or leased pursuant
to a ground lease approved by the Agent, by Parent Borrower or a Subsidiary Borrower which is security for the Obligations pursuant to the Mortgages. 
 Mortgages. The Mortgages, Deeds to Secure Debt and/or Deeds of Trust from Parent Borrower or a Subsidiary Borrower to the Agent for the benefit of the Lenders (or to trustees named therein acting on behalf of
the Agent for the benefit of the Lenders), as the same may be modified or amended, pursuant to which such Borrower has conveyed or granted a mortgage lien upon or a conveyance in fee simple (or of a leasehold, if applicable) of a Mortgaged Property
as security for the Obligations, each such mortgage entered into after the date hereof to be substantially in the form of Exhibit F annexed hereto, with such changes thereto as Agent may require as a result of state law or practice.

 Multiemployer Plan. Any multiemployer plan within the meaning of §3(37) of ERISA maintained or contributed to by any Borrower
or any ERISA Affiliate. 
 Net Income (or Loss). With respect to any Person (or any asset of any Person) for any period, the net
income (or loss) of such Person (or attributable to such asset), determined in accordance with GAAP. 
 Net Offering Proceeds. The
gross cash proceeds received by Parent Borrower or any of its Subsidiaries or REIT as a result of an Equity Offering less the customary and reasonable costs, expenses and discounts paid by Parent Borrower or such Subsidiary or REIT in
connection therewith. 
 Net Operating Income. For any Real Estate and for a given period, an amount equal to the sum of (a) the
rents, common area reimbursements and other income for such Real Estate for such period received in the ordinary course of business from tenants in occupancy (excluding pre-paid rents and revenues and security deposits except to the extent applied
in satisfaction of tenants’ obligations for rent) minus (b) all expenses paid or accrued and related to the ownership, operation or maintenance of such Real Estate for such period, including, but not limited to, taxes, assessments
and the like, insurance, utilities, payroll costs, maintenance, repair and landscaping expenses, marketing expenses, and general and administrative expenses 

  

 19 

 
(including an appropriate allocation for legal, accounting, advertising, marketing and other expenses incurred in connection with such Real Estate, but
specifically excluding general overhead expenses of Parent Borrower and its Subsidiaries and any property management fees), minus (c) the greater of (i) actual property management expenses of such Real Estate or (ii) an amount
equal to three percent (3.0%) of the gross revenues from such Real Estate, minus (d) all rents, common area reimbursements and other income for such Real Estate received from tenants in default of obligations under their lease or
with respect to leases as to which the tenant or any guarantor thereunder is subject to any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution, liquidation or similar debtor relief proceeding. 
 Net Rentable Area. With respect to any Real Estate, the megawatts of critical load power available for use by tenants determined in accordance
with the Rent Roll for such Real Estate, the manner of such determination to be reasonably consistent for all Real Estate of the same type unless otherwise approved by the Agent. 
 Non-Recourse Exclusions. With respect to any Non-Recourse Indebtedness of any Person, any usual and customary exclusions from the non-recourse
limitations governing such Indebtedness, including, without limitation, exclusions for claims that (i) are based on fraud, intentional misrepresentation, misapplication of funds, gross negligence or willful misconduct, (ii) result from
intentional mismanagement of or waste at the Real Property securing such Non-Recourse Indebtedness, (iii) arise from the presence of Hazardous Substances on the Real Property securing such Non-Recourse Indebtedness; or (iv) are the result
of any unpaid real estate taxes and assessments (whether contained in a loan agreement, promissory note, indemnity agreement or other document). 
 Non-Recourse Indebtedness. Indebtedness of Parent Borrower, its Subsidiaries or an Unconsolidated Affiliate which is secured by one or more parcels of Real Estate (other than a Mortgaged Property) or interests therein or equipment
and which is not a general obligation of Parent Borrower or such Subsidiary or Unconsolidated Affiliate, the holder of such Indebtedness having recourse solely to the parcels of Real Estate, or interests therein, securing such Indebtedness, the
leases thereon and the rents, profits and equity thereof or equipment, as applicable (except for recourse against the general credit of the Parent Borrower or its Subsidiaries or an Unconsolidated Affiliate for any Non-Recourse Exclusions),
provided that in calculating the amount of Non-Recourse Indebtedness at any time, the amount of any Non-Recourse Exclusions which are the subject of a claim shall not be included in the Non-Recourse Indebtedness but shall constitute recourse
Indebtedness. Non-Recourse Indebtedness shall also include Indebtedness of a Subsidiary of Parent Borrower that is not a Subsidiary Borrower or of an Unconsolidated Affiliate which is a special purpose entity that is recourse solely to such
Subsidiary or Unconsolidated Affiliate, which is not cross-defaulted to other Indebtedness of the Borrowers and which does not constitute Indebtedness of any other Person (other than such Subsidiary or Unconsolidated Affiliate which is the borrower
thereunder). 
 Notes. Collectively, the Revolving Credit Notes, the Term Loan Notes and the Swing Loan Note. 
 Notice. See §19. 
  

 20 

 Obligations. All indebtedness, obligations and liabilities of the Borrowers to any of the Lenders
or the Agent, individually or collectively, under this Agreement or any of the other Loan Documents or in respect of any of the Loans, the Notes or the Letters of Credit, or other instruments at any time evidencing any of the foregoing, 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. 
 OFAC. Office of Foreign Asset Control of the Department of the Treasury of the United States of America. 
 Off-Balance Sheet Obligations. Liabilities and obligations of Parent Borrower, any Subsidiary or any other Person in respect of “off-balance
sheet arrangements” (as defined in the SEC Off-Balance Sheet Rules) which Parent Borrower would be required to disclose in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of
Parent Borrower’s report on Form 10-Q or Form 10-K (or their equivalents) which Parent Borrower is required to file with the SEC or would be required to file if it were subject to the jurisdiction of the SEC (or any Governmental Authority
substituted therefore). As used in this definition, the term “SEC Off-Balance Sheet Rules” means the Disclosure in Management’s Discussion and Analysis About Off-Balance Sheet Arrangements, Securities Act Release No. 33-8182, 68
Fed. Reg. 5982 (Feb. 5, 2003) (codified at 17 CFR pts. 228, 229 and 249). 
 Original Note. The “Note”, as defined in
each Assignment of Loan Documents. 
 Outstanding. With respect to the Loans, the aggregate unpaid principal thereof as of any date of
determination. With respect to Letters of Credit, the aggregate undrawn face amount of issued Letters of Credit. 
 Patriot Act. The
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, as the same may be amended from time to time, and corresponding provisions of future laws. 
 PBGC. The Pension Benefit Guaranty Corporation created by §4002 of ERISA and any successor entity or entities having similar
responsibilities. 
 Permitted Liens. Liens, security interests and other encumbrances permitted by §8.2. 
 Person. Any individual, corporation, limited liability company, partnership, trust, unincorporated association, business, or other legal entity,
and any government or any governmental agency or political subdivision thereof. 
 Plan Assets. Assets of any employee benefit plan
subject to Part 4, Subtitle B, Title I of ERISA. 
 Potential Collateral. Any property of Parent Borrower or a Subsidiary Borrower
which is not at the time included in the Collateral and which consists of (i) Eligible Real Estate, or (ii) Real Estate which is capable of becoming Eligible Real Estate through the approval of the Required Lenders and the completion and
delivery of Eligible Real Estate Qualification Documents. 
  

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 Preferred Distributions. For any period and without duplication, all Distributions paid, declared
but not yet paid or otherwise due and payable during such period on Preferred Securities issued by Parent Borrower or any of its Subsidiaries or REIT. Preferred Distributions shall not include dividends or distributions (a) paid or payable
solely in Equity Interests of identical class payable to holders of such class of Equity Interests; or (b) paid or payable to Parent Borrower or any of its Subsidiaries. 
 Preferred Securities. With respect to any Person, Equity Interests in such Person, which are entitled to preference or priority over any other
Equity Interest in such Person in respect of the payment of dividends or distribution of assets upon liquidation, or both. 
 Pricing
Level. Such term shall have the meaning established within the definition of Applicable Margin. 
 Real Estate. All real property
at any time owned or leased (as lessee or sublessee) by a Borrower or any of their respective Subsidiaries, including, without limitation, the Mortgaged Properties. 
 Recognition Agreement. That certain Recognition Agreement dated of even date herewith between Agent and LBHI. 
 Record. The grid attached to any Note, or the continuation of such grid, or any other similar record, including computer records, maintained by the Agent with respect to any Loan referred to in such Note.

 Recourse Indebtedness. As of any date of determination, any Indebtedness (whether secured or unsecured) which is recourse to Parent
Borrower or any of its Subsidiaries. Recourse Indebtedness shall not include Non-Recourse Indebtedness. 
 Register. See §18.2.

 REIT. DuPont Fabros Technology, Inc., a Maryland real estate investment trust. 
 REIT Status. With respect to a Person, its status as a real estate investment trust as defined in §856(a) of the Code. 
 Release. See §6.20(c)(iii). 
 Rent Roll. A report prepared by the Borrowers showing for each Mortgaged Property owned or leased by Borrowers, its occupancy, lease expiration dates, lease rent and other information in substantially the form presented to Agent
prior to the date hereof or in such other form as may be reasonably acceptable to the Agent. 
 Required Lenders. As of any date, the
Lender or Lenders whose aggregate Commitment Percentage is equal to or greater than sixty-six and 7/10 percent (66.7%) of the 

  

 22 

 
Total Commitment; provided that in determining said percentage at any given time, all then existing Delinquent Lenders will be disregarded and excluded and
the Commitment Percentages of the Lenders shall be redetermined for voting purposes only to exclude the Commitment Percentages of such Delinquent Lenders. 
 Reserve Percentage. For any Interest Period, that percentage which is specified three (3) Business Days before the first day of such Interest Period by the Board of Governors of the Federal Reserve System
(or any successor) or any other governmental or quasi-governmental authority with jurisdiction over Agent or any Lender for determining the maximum reserve requirement (including, but not limited to, any marginal reserve requirement) for Agent or
any Lender with respect to liabilities constituting of or including (among other liabilities) Eurocurrency liabilities in an amount equal to that portion of the Loan affected by such Interest Period and with a maturity equal to such Interest Period.

 Revolving Credit Base Rate Loans. Revolving Credit Loans bearing interest calculated by reference to the Base Rate. 
 Revolving Credit Commitment. With respect to each Revolving Credit Lender, the amount set forth on Schedule 1.1 hereto as the amount
of such Revolving Credit Lender’s Revolving Credit Commitment to make or maintain Revolving Credit Loans (other than Swing Loans) to the Borrowers, to participate in Letters of Credit for the account of the Borrowers and to participate in Swing
Loans to the Borrowers, as the same may be changed from time to time in accordance with the terms of this Agreement. 
 Revolving Credit
Commitment Percentage. With respect to each Revolving Credit Lender, the percentage set forth on Schedule 1.1 hereto as such Revolving Credit Lender’s percentage of the Total Revolving Credit Commitment, as the same may be
changed from time to time in accordance with the terms of this Agreement; provided that if the Revolving Credit Commitments of the Revolving Credit Lenders have been terminated as provided in this Agreement, then the Revolving Credit Commitment of
each Revolving Credit Lender shall be determined based on the Revolving Credit Commitment Percentage of such Revolving Credit Lender immediately prior to such termination and after giving effect to any subsequent assignments made pursuant to the
terms hereof. 
 Revolving Credit Lender. Collectively, the Lenders which have a Revolving Credit Commitment, the initial Revolving
Credit Lenders being identified on Schedule 1.1 hereto. 
 Revolving Credit LIBOR Rate Loans. Revolving Credit Loans
bearing interest calculated by reference to LIBOR. 
 Revolving Credit Loan or Loans. An individual Revolving Credit Loan or the
aggregate Revolving Credit Loans, as the case may be, in the maximum principal amount of $275,000,000.00 (subject to increase as provided in §2.11) to be made by the Revolving Credit Lenders hereunder as more particularly described in §2.
Without limiting the foregoing, Revolving Credit Loans shall also include Revolving Credit Loans made pursuant to §2.10(f). 
  

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 Revolving Credit Maturity Date. August 7, 2010, as such date may be extended as provided in
§2.12, or such earlier date on which the Revolving Credit Loans shall become due and payable pursuant to the terms hereof. 
 Revolving Credit Notes. See §2.1(b). 
 SEC. The federal Securities and Exchange Commission. 
 Secured Debt. With respect to Borrowers or any of their Subsidiaries as of any given date, the aggregate principal amount of all Indebtedness of
such Persons on a Consolidated basis outstanding at such date and that is secured in any manner by any Lien. 
 Security Documents.
Collectively, the Joinder Agreements, the Mortgages, the Assignments of Leases and Rents, the Assignment of Interests, the Indemnity Agreements, UCC-1 financing statements and any further collateral assignments to the Agent for the benefit of the
Lenders. 
 Single Purpose Entity. As defined in §7.21. 
 S&P. Standard & Poor’s Ratings Group. 
 SPE Entity. Any Person that is an owner of an equity interest in a Subsidiary Borrower which Agent reasonably requires be a Single Purpose Entity. With respect to the initial Subsidiary Borrowers a party to
this Agreement, there are no SPE Entities. 
 Stabilized Property. A completed project that has achieved a Leased Rate of at least
eighty-five percent (85%) for a period of not less than thirty (30) consecutive days, provided that a Development Property on which all improvements related to the development of such Real Estate have been substantially completed
(excluding tenants improvements) for at least twenty-four (24) months shall constitute a Stabilized Property. Once a project becomes a Stabilized Property under this Agreement, it shall remain a Stabilized Property. 
 State. A state of the United States of America and the District of Columbia. 
 Subordination, Attornment and Non-Disturbance Agreement. An agreement among the Agent, a Borrower and a tenant under a Lease pursuant to which
such tenant agrees to subordinate its rights under the Lease to the lien or security title of the applicable Mortgage and agrees to recognize the Agent or its successor in interest as landlord under the Lease in the event of a foreclosure under such
Mortgage, and the Agent agrees to not disturb the possession of such tenant, such agreement to be in form and substance reasonably satisfactory to Agent. 
 Subsidiary. For any Person, any corporation, partnership, limited liability company or other entity of which at least a majority of the securities or other ownership interests having by the terms thereof
ordinary voting power to elect a majority of the board of directors or other persons performing similar functions of such corporation, partnership, limited liability company or other entity (without regard to the occurrence of any contingency) is at
the time directly or indirectly owned or controlled by such Person or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of such Person, and shall include all Persons the accounts of which are consolidated with
those of such Person pursuant to GAAP. 
  

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 Subsidiary Borrowers. Rhino Equity LLC, Quill Equity LLC, Lemur Properties LLC and Porpoise
Ventures LLC, each a Delaware limited liability company, and any Additional Subsidiary Borrower that is the direct or indirect owner of a Mortgaged Property. 
 Survey. An instrument survey of each parcel of Mortgaged Property prepared by a registered land surveyor which shall show the location of all buildings, structures, easements and utility lines on such property,
shall be sufficient to remove the standard survey exception from the Title Policy, shall show that all buildings and structures are within the lot lines of the Mortgaged Property and shall not show any encroachments by others (or to the extent any
encroachments are shown, such encroachments shall be acceptable to the Agent in its reasonable discretion), shall show rights of way, adjoining sites, establish building lines and street lines, the distance to and names of the nearest intersecting
streets and such other details as the Agent may reasonably require; and shall show whether or not the Mortgaged Property is located in a flood hazard district as established by the Federal Emergency Management Agency or any successor agency or is
located in any flood plain, flood hazard or wetland protection district established under federal, state or local law and shall otherwise be in form and substance reasonably satisfactory to the Agent. 
 Surveyor Certification. With respect to each parcel of Mortgaged Property, a certificate executed by the surveyor who prepared the Survey with
respect thereto, dated as of a recent date and containing such information relating to such parcel as the Agent or the Title Insurance Company may reasonably require, such certificate to be reasonably satisfactory to the Agent in form and substance.

 Swing Loan. See §2.5(a). 
 Swing Loan Lender. KeyBank, in its capacity as Swing Loan Lender and any successor thereof. 
 Swing Loan Commitment.
The sum of $25,000,000.00, as the same may be changed from time to time in accordance with the terms of this Agreement. 
 Swing Loan
Note. See §2.5(b). 
 Taking. The taking or appropriation (including by deed in lieu of condemnation) of any Mortgaged
Property, or any part thereof or interest therein, whether permanently or temporarily, for public or quasi-public use under the power of eminent domain, by reason of any public improvement or condemnation proceeding, or in any other manner or any
damage or injury or diminution in value through condemnation, inverse condemnation or other exercise of the power of eminent domain. 
 Term Base Rate Loans. The Term Loans bearing interest by reference to the Base Rate. 
  

 25 

 Term LIBOR Rate Loans. The Term Loans bearing interest by reference to LIBOR. 
 Term Loan or Term Loans. An individual Term Loan or the aggregate Term Loans, as the case may be, in the maximum principal amount of
$200,000,000.00 made by the Term Loan Lenders hereunder. 
 Term Loan Commitment. As to each Term Loan Lender, the amount equal to
such Term Loan Lender’s Term Loan Commitment Percentage of the aggregate principal amount of the Term Loans from time to time outstanding to Borrowers. 
 Term Loan Commitment Percentage. With respect to each Term Loan Lender, the percentage set forth on Schedule 1.1 hereto as such Term Loan Lender’s percentage of the aggregate Term Loan to
Borrowers, as the same may be changed from time to time in accordance with the terms of this Agreement. 
 Term Loan Lenders.
Collectively, the Lenders which have a Term Loan Commitment, the initial Term Loan Lenders being identified on Schedule 1.1 hereto. 
 Term Loan Maturity Date. August 7, 2011, or such earlier date on which the Term Loans shall become due and payable pursuant to the terms hereof. 
 Term Loan Note. A promissory note made by the Borrowers in favor of a Term Loan Lender in the principal face amount equal to such Term Loan Lender’s Term Loan Commitment, in substantially the form of
Exhibit C hereto. 
 Titled Agents. The Arranger, and any co-syndication agents or documentation agent. 
 Title Insurance Company. Commonwealth Land Title Insurance Company and/or any other title insurance company or companies approved by the Agent and
the Parent Borrower. 
 Title Policy. With respect to each parcel of Mortgaged Property, an ALTA standard form title insurance policy
(or, if such form is not available, an equivalent, legally promulgated form of mortgagee title insurance policy reasonably acceptable to the Agent) issued by a Title Insurance Company (with such reinsurance as the Agent may reasonably require, any
such reinsurance to be with direct access endorsements to the extent available under applicable law) in an amount as the Agent may reasonably require based upon the fair market value of the applicable Mortgaged Property insuring the priority of the
Mortgage thereon and that a Borrower holds marketable fee simple title or a valid and subsisting leasehold interest to such parcel, subject only to the encumbrances acceptable to Agent in its reasonable discretion and which shall not contain
standard exceptions for mechanics liens, persons in occupancy (other than tenants as tenants only under Leases) or matters which would be shown by a survey, shall not insure over any matter except to the extent that any such affirmative insurance is
acceptable to the Agent in its reasonable discretion, and shall contain (a) a revolving credit endorsement and (b) such other endorsements and affirmative insurance as the Agent may reasonably require and is available in the State in which
the Real Estate is located, including but not limited to (i) a comprehensive endorsement, (ii) a variable rate of interest endorsement, (iii) a usury endorsement, (iv) a doing 

  

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business endorsement, (v) an ALTA form 3.1 zoning endorsement, (vi) a “tie-in” endorsement relating to all Title Policies issued by such
Title Insurance Company in respect of other Mortgaged Property, (vii) a “first loss” endorsement, and (viii) a utility location endorsement. 
 Total Commitment. The sum of the Commitments of the Lenders, as in effect from time to time. As of the date of this Agreement, the Total Commitment is Four Hundred Seventy Five Million and No/100 Dollars
($475,000,000.00). The Total Commitment may increase in accordance with §2.11. 
 Total Revolving Credit Commitment. The sum of
the Revolving Credit Commitments of the Revolving Credit Lenders, as in effect from time to time. As of the date of this Agreement, the Total Revolving Credit Commitment is Two Hundred Seventy-Five Million and No/100 Dollars ($275,000,000.00). The
Total Revolving Credit Commitment may increase in accordance with §2.11. 
 Type. As to any Loan, its nature as a Base Rate Loan
or a LIBOR Rate Loan. 
 Unconsolidated Affiliate. In respect of any Person, any other Person in whom such Person holds an Investment,
(a) which Investment is accounted for in the financial statements of such Person on an equity basis of accounting and whose financial results would not be consolidated under GAAP with the financial results of such first Person on the
consolidated financial statements of such first Person, or (b) which is not a Subsidiary of such first Person. 
 Unhedged Variable
Rate Debt. Any Indebtedness with respect to which the interest is not fixed (or hedged to a fixed rate) for the entire term of such Indebtedness to maturity. 
 Unrestricted Cash and Cash Equivalents. As of any date of determination, the sum of (a) the aggregate amount of Unrestricted cash and (b) the aggregate amount of Unrestricted Cash Equivalents (valued
at fair market value). As used in this definition, “Unrestricted” means the specified asset is not subject to any escrow, reserves or Liens or claims of any kind in favor of any Person. 
 Unsecured Debt. Indebtedness of the Borrowers and their Subsidiaries outstanding at any time which is not Secured Indebtedness. 
 Wholly Owned Subsidiary. As to Parent Borrower, any Subsidiary of Parent Borrower that is directly or indirectly owned 100% by Parent Borrower.

 §1.2 Rules of Interpretation. 
 (a) 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 and the terms of this Agreement. 
 (b) The singular includes the plural and the plural includes the singular. 
  

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 (c) A reference to any law includes any amendment or modification of such law. 
 (d) A reference to any Person includes its permitted successors and permitted assigns. 
 (e) Accounting terms not otherwise defined herein have the meanings assigned to them by GAAP applied on a consistent basis by the accounting entity to
which they refer. 
 (f) The words “include”, “includes” and “including” are not limiting. 
 (g) The words “approval” and “approved”, as the context requires, means an approval in writing given to the party seeking approval
after full and fair disclosure to the party giving approval of all material facts necessary in order to determine whether approval should be granted. 
 (h) All terms not specifically defined herein or by GAAP, which terms are defined in the Uniform Commercial Code as in effect in the State of New York, have the meanings assigned to them therein. 
 (i) Reference to a particular “§”, refers to that section of this Agreement unless otherwise indicated. 
 (j) 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. 
 (k) In the event of any change in generally accepted accounting principles after
the date hereof or any other change in accounting procedures pursuant to §7.3 which would affect the computation of any financial covenant, ratio or other requirement set forth in any Loan Document, then upon the request of Borrowers or Agent,
the Borrowers, the Agent and the Lenders shall negotiate promptly, diligently and in good faith in order to amend the provisions of the Loan Documents such that such financial covenant, ratio or other requirement shall continue to provide
substantially the same financial tests or restrictions of the Borrowers as in effect prior to such accounting change, as determined by the Required Lenders in their good faith judgment. Until such time as such amendment shall have been executed and
delivered by the Borrowers, the Agent and the Required Lenders, such financial covenants, ratio and other requirements, and all financial statements and other documents required to be delivered under the Loan Documents, shall be calculated and
reported as if such change had not occurred. 
 §2. THE CREDIT FACILITY. 
 §2.1 Revolving Credit Loans. 
 (a) Subject to the terms and conditions set forth in this
Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrowers, and the Borrowers may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving 

  

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Credit Maturity Date upon notice by the Borrowers to the Agent given in accordance with §2.7, such sums as are requested by the Borrowers for the
purposes set forth in §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and
(ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Swing Loans
and Term Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding
principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment and the outstanding principal amount of
the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans, Term Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenant set forth in §9.1. The
Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by
the Borrowers that all of the conditions required of Borrowers set forth in §10 and §11 have been satisfied on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it
receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrowers in the maximum aggregate principal
outstanding balance of more than the principal face amount of its Revolving Credit Note. 
 (b) The Revolving Credit Loans shall be evidenced
by separate promissory notes of the Borrowers in substantially the form of Exhibit A hereto (collectively, the “Revolving Credit Notes”), dated of even date with this Agreement (except as otherwise provided in §18.3) and
completed with appropriate insertions. One Revolving Credit Note shall be payable to the order of each Revolving Credit Lender in the principal amount equal to such Revolving Credit Lender’s Revolving Credit Commitment or, if less, the
outstanding amount of all Revolving Credit Loans made by such Revolving Credit Lender, plus interest accrued thereon, as set forth below. The Borrowers irrevocably authorize Agent to make or cause to be made, at or about the time of the Drawdown
Date of any Revolving Credit Loan or the time of receipt of any payment of principal thereof, an appropriate notation on Agent’s 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 Agent’s Record shall be prima facie evidence of the principal amount thereof owing and unpaid to each Revolving Credit Lender, but the failure to record, or any error in so
recording, any such amount on Agent’s Record shall not limit or otherwise affect the obligations of the Borrowers hereunder or under any Revolving Credit Note to make payments of principal of or interest on any Revolving Credit Note when due.

 §2.2 Commitment to Lend Term Loan. Subject to the terms and conditions set forth in this Agreement, each of the Term Loan
Lenders severally agrees to lend to Borrowers on the Closing Date such Term Loan Lender’s Term Loan Commitment. 
 §2.3 Facility
Unused Fee. The Borrowers agree to pay to the Agent for the account of the Revolving Credit Lenders in accordance with their respective Revolving Credit Commitment 

  

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Percentages a facility unused fee calculated at the rate per annum as set forth below on the average daily amount by which the Total Revolving Credit
Commitment exceeds the outstanding principal amount of Revolving Credit Loans, Swing Loans and the face amount of Letters of Credit Outstanding during each calendar quarter or portion thereof commencing on the date hereof and ending on the Revolving
Credit Maturity Date. The facility unused fee shall be calculated for each day based on the ratio (expressed as a percentage) of (a) the average daily amount of the outstanding principal amount of the Revolving Credit Loans and Swing Loans and
the face amount of Letters of Credit Outstanding during such quarter to (b) the Total Revolving Credit Commitment, and if such ratio is less than fifty percent (50%), the facility unused fee shall be payable at the rate of 0.20%, and if such
ratio is equal to or greater than fifty percent (50%), the facility unused fee shall be payable at the rate of 0.125%. The facility unused fee shall be payable quarterly in arrears on the first (1st
) day of each calendar quarter for the immediately preceding calendar quarter or portion thereof, and on any earlier date on which the Revolving Credit Commitments shall be reduced or shall terminate
as provided in §2.4, with a final payment on the Revolving Credit Maturity Date. 
 §2.4 Reduction and Termination of the
Revolving Credit Commitments. The Borrowers shall have the right at any time and from time to time upon five (5) Business Days’ prior written notice to the Agent to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess
thereof (provided that in no event shall the Total Revolving Credit Commitment be reduced in such manner to an amount less than $100,000,000.00) or to terminate entirely the Revolving Credit Commitments, whereupon the Revolving Credit
Commitments of the Revolving Credit Lenders shall be reduced pro rata in accordance with their respective Revolving Credit Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or
reduction to be without penalty except as otherwise set forth in §4.8; provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the sum of Outstanding Revolving Credit Loans, the
Outstanding Swing Loans and the Letter of Credit Liabilities would exceed the Revolving Credit Commitments of the Revolving Credit Lenders as so terminated or reduced. Promptly after receiving any notice from the Borrowers delivered pursuant to this
§2.4, the Agent will notify the Revolving Credit Lenders of the substance thereof. Any reduction of the Revolving Credit Commitments shall also result in a proportionate reduction (rounded to the next lowest integral multiple of $100,000) in
the maximum amount of Swing Loans and Letters of Credit. Upon the effective date of any such reduction or termination, the Borrowers shall pay to the Agent for the respective accounts of the Revolving Credit Lenders the full amount of any facility
fee under §2.3 then accrued on the amount of the reduction. No reduction or termination of the Revolving Credit Commitments may be reinstated. 
 §2.5 Swing Loan Commitment. 
 (a) Subject to the terms and conditions set forth in this Agreement, Swing Loan Lender
agrees to lend to the Borrowers (the “Swing Loans”), and the Borrowers may borrow (and repay and reborrow) from time to time between the Closing Date and the date which is five (5) Business Days prior to the Revolving Credit Maturity
Date upon notice by the Borrowers to the Swing Loan Lender given in accordance with this §2.5, such sums as are requested by the Borrowers for the purposes set forth in §2.9 in an aggregate principal amount at any one time outstanding not
exceeding the Swing Loan Commitment; provided that in all events 

  

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(i) no Default or Event of Default shall have occurred and be continuing; (ii) no Revolving Credit Lender shall be a Delinquent Lender (provided
Swing Loan Lender may, in its sole discretion, be entitled to waive this condition); (iii) the outstanding principal amount of the Revolving Credit Loans and Swing Loans (after giving effect to all amounts requested) plus Letter of
Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment; and (iv) the outstanding principal amount of the Revolving Credit Loans, Term Loans and Swing Loans (after giving effect to all amounts requested), plus
Letter of Credit Liabilities shall not at any time exceed the lesser of (A) the Total Commitment or (B) the Borrowing Base Availability. Swing Loans shall constitute “Revolving Credit Loans” for all purposes hereunder. The
funding of a Swing Loan hereunder shall constitute a representation and warranty by the Borrowers that all of the conditions set forth in §10 and §11 have been satisfied on the date of such funding. The Swing Loan Lender may assume that
the conditions in §10 and §11 have been satisfied unless Swing Loan Lender has received written notice from a Revolving Credit Lender that such conditions have not been satisfied. Each Swing Loan shall be due and payable within five
(5) Business Days of the date such Swing Loan was provided and Borrowers hereby agree (to the extent not repaid as contemplated by §2.5(d) below) to repay each Swing Loan on or before the date that is five (5) Business Days from the
date such Swing Loan was provided. 
 (b) The Swing Loans shall be evidenced by a separate promissory note of the Borrowers in substantially
the form of Exhibit B hereto (the “Swing Note”), dated the date of this Agreement and completed with appropriate insertions. The Swing Loan Note shall be payable to the order of the Swing Loan Lender in the principal face
amount equal to the Swing Loan Commitment and shall be payable as set forth below. The Borrowers irrevocably authorize the Swing Loan Lender to make or cause to be made, at or about the time of the Drawdown Date of any Swing Loan or at the time of
receipt of any payment of principal thereof, an appropriate notation on the Swing Loan Lender’s Record reflecting the making of such Swing Loan or (as the case may be) the receipt of such payment. The outstanding amount of the Swing Loans set
forth on the Swing Loan Lender’s Record shall be prima facie evidence of the principal amount thereof owing and unpaid to the Swing Loan Lender, but the failure to record, or any error in so recording, any such amount on the Swing Loan
Lender’s Record shall not limit or otherwise affect the obligations of the Borrowers hereunder or under the Swing Loan Note to make payments of principal of or interest on any Swing Loan Note when due. 
 (c) Borrowers shall request a Swing Loan by delivering to the Swing Loan Lender a Loan Request executed by an Authorized Officer no later than 11:00 a.m.
(Cleveland time) on the requested Drawdown Date specifying the amount of the requested Swing Loan (which shall be in the minimum amount of $1,000,000.00) and providing the wire instructions for the delivery of the Swing Loan proceeds. The Loan
Request shall also contain the statements and certifications required by §2.7(i) and (ii). Each such Loan Request shall be irrevocable and binding on the Borrowers and shall obligate the Borrowers to accept such Swing Loan on the Drawdown Date.
Notwithstanding anything herein to the contrary, a Swing Loan shall be a Base Rate Loan and shall bear interest at the Base Rate plus the Applicable Margin for Revolving Credit Base Rate Loans. The proceeds of the Swing Loan will be disbursed by
wire by the Swing Loan Lender to the Borrowers no later than 1:00 p.m. (Cleveland time). 
 (d) The Swing Loan Lender shall, within
two (2) Business Days after the Drawdown Date with respect to such Swing Loan, request each Revolving Credit Lender, 

  

 31 

 
including the Swing Loan Lender, to make a Revolving Credit Loan pursuant to §2.1 in an amount equal to such Revolving Credit Lender’s Revolving
Credit Commitment Percentage of the amount of the Swing Loan outstanding on the date such notice is given. In the event that the Borrowers do not notify the Agent in writing otherwise on or before noon (Cleveland Time) of the second (2nd) Business Day after the Drawdown Date with respect to such Swing Loan, Agent shall notify the Revolving Credit Lenders that such Revolving Credit Loan
shall be a Revolving Credit LIBOR Rate Loan with an Interest Period of one (1) month, provided that the making of such Revolving Credit LIBOR Rate Loan will not be in contravention of any other provision of this Agreement, or if the making of a
Revolving Credit LIBOR Rate Loan would be in contravention of this Agreement, then such notice shall indicate that such loan shall be a Revolving Credit Base Rate Loan. Borrowers hereby irrevocably authorize and direct the Swing Loan Lender to so
act on its behalf, and agrees that any amount advanced to the Agent for the benefit of the Swing Loan Lender pursuant to this §2.5(d) shall be considered a Revolving Credit Loan pursuant to §2.1. Unless any of the events described in
paragraph (h), (i) or (j) of §12.1 shall have occurred (in which event the procedures of §2.5(e) shall apply), each Revolving Credit Lender shall make the proceeds of its Revolving Credit Loan available to the Swing Loan Lender
for the account of the Swing Loan Lender at the Agent’s Head Office prior to 12:00 noon (Cleveland time) in funds immediately available no later than the third (3rd) Business Day after the date such notice is given just as if the Revolving
Credit Lenders were funding directly to the Borrowers, so that thereafter such Obligations shall be evidenced by the Revolving Credit Notes. The proceeds of such Revolving Credit Loan shall be immediately applied to repay the Swing Loans. 

 (e) If for any reason a Swing Loan cannot be refinanced by a Revolving Credit Loan pursuant to §2.5(d), each Revolving Credit Lender
will, on the date such Revolving Credit Loan pursuant to §2.5(d) was to have been made, purchase an undivided participation interest in the Swing Loan in an amount equal to its Revolving Credit Commitment Percentage of such Swing Loan. Each
Revolving Credit Lender will immediately transfer to the Swing Loan Lender in immediately available funds the amount of its participation and upon receipt thereof the Swing Loan Lender will deliver to such Revolving Credit Lender a Swing Loan
participation certificate dated the date of receipt of such funds and in such amount. 
 (f) Whenever at any time after the Swing Loan Lender
has received from any Revolving Credit Lender such Revolving Credit Lender’s participation interest in a Swing Loan, the Swing Loan Lender receives any payment on account thereof, the Swing Loan Lender will distribute to such Revolving Credit
Lender its participation interest in such amount (appropriately adjusted in the case of interest payments to reflect the period of time during which such Revolving Credit Lender’s participating interest was outstanding and funded);
provided, however, that in the event that such payment received by the Swing Loan Lender is required to be returned, such Revolving Credit Lender will return to the Swing Loan Lender any portion thereof previously distributed by the
Swing Loan Lender to it. 
 (g) Each Revolving Credit Lender’s obligation to fund a Revolving Credit Loan as provided in §2.5(d) or
to purchase participation interests pursuant to §2.5(e) shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, (i) any setoff, counterclaim, recoupment, defense or other right
which such Revolving Credit Lender or the Borrowers may have against the Swing Loan Lender, the Borrowers or 

  

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anyone else for any reason whatsoever; (ii) the occurrence or continuance of a Default or an Event of Default; (iii) any adverse change in the
condition (financial or otherwise) of the Borrowers or any of their respective Subsidiaries; (iv) any breach of this Agreement or any of the other Loan Documents by the Borrowers or any Lender; or (v) any other circumstance, happening or
event whatsoever, whether or not similar to any of the foregoing. Any portions of a Swing Loan not so purchased or converted may be treated by the Agent and Swing Loan Lender as against such Revolving Credit Lender as a Revolving Credit Loan which
was not funded by the non-purchasing Revolving Credit Lender as contemplated by §2.8 and §12.5, and shall have such rights and remedies against such Revolving Credit Lender as are set forth in §§2.8, 12.5 and 14.5. Each Swing
Loan, once so sold or converted, shall cease to be a Swing Loan for the purposes of this Agreement, but shall be a Revolving Credit Loan made by each Revolving Credit Lender under its Revolving Credit Commitment. 
 §2.6 Interest on Loans. 
 (a)
Each Revolving Credit Base Rate Loan shall bear interest for the period commencing with the Drawdown Date thereof and ending on the date on which such Revolving Credit Base Rate Loan is repaid or converted to a Revolving Credit LIBOR Rate Loan at
the rate per annum equal to the sum of the Base Rate plus the Applicable Margin for Revolving Credit Base Rate Loans. 
 (b) Each Revolving
Credit 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 at the rate per annum equal to the sum of LIBOR determined for such Interest
Period plus the Applicable Margin for Revolving Credit LIBOR Rate Loans. 
 (c) Each Term Base Rate Loan shall bear interest for the period
commencing with the Drawdown Date thereof and ending on the date on which such Term Base Rate Loan is repaid or is converted to a Term LIBOR Rate Loan at a rate per annum equal to the sum of the Applicable Margin for Term Base Rate Loans plus the
Base Rate. 
 (d) Each Term 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 at the rate per annum equal to the sum of LIBOR determined for such Interest Period plus the Applicable Margin for Term LIBOR Rate Loans. 
 (e) The Borrowers promise to pay interest on each Loan in arrears on each Interest Payment Date with respect thereto. 
 (f) Base Rate Loans and LIBOR Rate Loans may be converted to Loans of the other Type as provided in §4.1. 
 §2.7 Requests for Revolving Credit Loans. Except with respect to the initial Revolving Credit Loan on the Closing Date, the Borrowers shall
give to the Agent written notice executed by an Authorized Officer in the form of Exhibit G hereto (or telephonic notice confirmed in writing in the form of Exhibit G hereto) of each Revolving Credit Loan requested hereunder
(a “Loan Request”) by 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Revolving Credit Base Rate Loans and two (2) 

  

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Business Days prior to the proposed Drawdown Date with respect to Revolving Credit LIBOR Rate Loans. Each such notice shall specify with respect to the
requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan, the initial Interest Period (if applicable) for such Revolving Credit Loan and the Drawdown Date. Each such notice shall
also contain (i) a general statement as to the purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the chief financial officer or chief accounting
officer of Parent Borrower that the Borrowers are and will be in compliance with all covenants under the Loan Documents after giving effect to the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify
each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrowers and shall obligate the Borrowers to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed
Drawdown Date. Nothing herein shall prevent the Borrowers from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loan as required by this Agreement. Each Loan Request
shall be (a) for a Revolving Credit Base Rate Loan in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof; or (b) for a Revolving Credit LIBOR Rate Loan in a minimum aggregate amount of
$1,000,000.00 or an integral multiple of $250,000.00 in excess thereof; provided, however, that there shall be no more than eight (8) Revolving Credit LIBOR Rate Loans outstanding at any one time. 
 §2.8 Funds for Loans. 
 (a) Not
later than 1:00 p.m. (Cleveland time) on the proposed Drawdown Date of any Revolving Credit Loans or Term Loans, each of the Revolving Credit Lenders or Term Loan Lenders, as applicable, 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 Loans which may be disbursed pursuant to §2.1 or §2.2. Upon receipt from each such Revolving Credit Lender of
such amount, and upon receipt of the documents required by §10 and §11 and the satisfaction of the other conditions set forth therein, to the extent applicable, the Agent will make available to the Borrowers the aggregate amount of such
Revolving Credit Loans or Term Loans made available to the Agent by the Revolving Credit Lenders or Term Loan Lenders, as applicable, by crediting such amount to the account of the Borrowers maintained at the Agent’s Head Office. The failure or
refusal of any Revolving Credit Lender or Term Loan 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 Loans shall not relieve any other Revolving
Credit Lender or Term Loan Lender from its several obligation hereunder to make available to the Agent the amount of such other Lender’s Commitment Percentage of any requested Loans, including any additional Revolving Credit Loans that may be
requested subject to the terms and conditions hereof to provide funds to replace those not advanced by the Lender so failing or refusing. In the event of any such failure or refusal, the Lenders not so failing or refusing shall be entitled to a
priority secured position as against the Lender or Lenders so failing or refusing to make available to the Borrowers the amount of its or their Commitment Percentage for such Loans as provided in §12.5. 
 (b) Unless the Agent shall have been notified by any Lender prior to the applicable Drawdown Date that such Lender will not make available to Agent such
Lender’s 

  

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Commitment Percentage of a proposed Loan, Agent may in its discretion assume that such Lender has made such Loan available to Agent in accordance with the
provisions of this Agreement and the Agent may, if it chooses, in reliance upon such assumption make such Loan available to the Borrowers, and such Lender shall be liable to the Agent for the amount of such advance. If such Lender does not pay such
corresponding amount upon the Agent’s demand therefor, the Agent will promptly notify the Borrowers, and the Borrowers shall promptly pay such corresponding amount to the Agent. The Agent shall also be entitled to recover from the Lender or the
Borrowers, as the case may be, interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Agent to the Borrowers to the date such corresponding amount is recovered by the Agent at a
per annum rate equal to (i) from the Borrowers at the applicable rate for such Loan or (ii) from a Lender at the Federal Funds Effective Rate. 
 §2.9 Use of Proceeds. The Borrowers will use the proceeds of the Loans and the Letters of Credit solely to (a) pay closing costs in connection with this Agreement; (b) repay existing construction
loans, fund future development projects and property and equipment acquisitions; (c) to make Distributions permitted by this Agreement; and (d) for general working capital purposes. 
 §2.10 Letters of Credit. 
 (a)
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 ninety (90) days prior to the Revolving Credit Maturity Date, the Issuing Lender shall issue such
Letters of Credit as the Borrowers may request upon the delivery of a written request in the form of Exhibit H hereto (a “Letter of Credit Request”) to the Issuing Lender, provided that (i) no Default or Event of
Default shall have occurred and be continuing, (ii) upon issuance of such Letter of Credit, the Letter of Credit Liabilities shall not exceed Twenty-Five Million Dollars ($25,000,000.00), (iii) in no event shall the sum of (A) the
Revolving Credit Loans Outstanding, (B) the Swing Loans Outstanding and (C) the amount of Letter of Credit Liabilities (after giving effect to all Letters of Credit requested) exceed the Total Revolving Credit Commitment, (iv) in no
event shall the outstanding principal amount of the Revolving Credit Loans, Swing Loans, Letters of Credit Liabilities and Term Loans (after giving effect to any requested Letters of Credit) exceed the Total Commitment or the Borrowing Base
Availability or cause a violation of the covenant set forth in §9.1, (v) the conditions set forth in §§10 and 11 shall have been satisfied, (vi) no Revolving Credit Lender is a Delinquent Lender (provided Issuing Lender may,
in its sole discretion, be entitled to waive this condition), and (vii) in no event shall any amount drawn under a Letter of Credit be available for reinstatement or a subsequent drawing under such Letter of Credit. The Issuing Lender may
assume that the conditions in §10 and §11 have been satisfied unless it receives written notice from a Revolving Credit Lender that such conditions have not been satisfied. Each Letter of Credit Request shall be executed by an Authorized
Officer of Borrowers. The Issuing Lender shall be entitled to conclusively rely on such Person’s authority to request a Letter of Credit on behalf of Borrowers. The Issuing Lender shall have no duty to verify the authenticity of any signature
appearing on a Letter of Credit Request. The Borrowers assume all risks with respect to the use of the Letters of Credit. Unless the Issuing Lender and the Majority Revolving Credit 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 one 

  

 35 

 
year after the date of issuance thereof, subject to extension pursuant to an “evergreen” clause acceptable to Agent and Issuing Lender (but in any
event the term shall not extend beyond the Revolving Credit Maturity Date). 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 Revolving Credit
Commitment as a Revolving Credit Loan. 
 (b) Each Letter of Credit Request shall be submitted to the Issuing Lender at least five
(5) Business Days (or such shorter period as the Issuing Lender may approve) prior to the date upon which the requested Letter of Credit is to be issued. Each such Letter of Credit Request 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 Parent Borrower that the Borrowers are and
will be in compliance with all covenants under the Loan Documents after giving effect to the issuance of such Letter of Credit. The Borrowers shall further deliver to the Issuing Lender such additional applications (which application as of the date
hereof is in the form of Exhibit L attached hereto) and documents as the Issuing Lender 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. 
 (c) The Issuing Lender shall, subject to the
conditions set forth in this Agreement, issue the Letter of Credit on or before five (5) Business Days following receipt of the documents last due pursuant to §2.10(b). Each Letter of Credit shall be in form and substance reasonably
satisfactory to the Issuing Lender in its reasonable discretion. 
 (d) Upon the issuance of a Letter of Credit, each Revolving Credit Lender
shall be deemed to have purchased a participation therein from Issuing Lender in an amount equal to its respective Commitment Percentage of the amount of such Letter of Credit. No Revolving Credit Lender’s obligation to participate in a Letter
of Credit shall be affected by any other Revolving Credit Lender’s failure to perform as required herein with respect to such Letter of Credit or any other Letter of Credit. 
 (e) Upon the issuance of each Letter of Credit, the Borrowers shall pay to the Issuing Lender (i) for its own account, a Letter of Credit fronting
fee calculated at the rate set forth in the Agreement Regarding Fees, and (ii) for the accounts of the Revolving Credit Lenders (including the Issuing Lender) in accordance with their respective percentage shares of participation in such Letter
of Credit, a Letter of Credit fee calculated at the rate per annum equal to the Applicable Margin then applicable to Revolving Credit LIBOR Rate Loans on the amount available to be drawn under such Letter of Credit. Such fees shall be payable in
quarterly installments in arrears with respect to each Letter of Credit on the first day of each calendar quarter following the date of issuance and continuing on each quarter or portion thereof thereafter, as applicable, or on any earlier date on
which the Commitments shall terminate and on the expiration or return of any Letter of Credit. In addition, the Borrowers shall pay to Issuing Lender for its own account within five (5) days of demand of Issuing Lender the standard issuance,
documentation and service charges for Letters of Credit issued from time to time by Issuing Lender. 
  

 36 

 (f) In the event that any amount is drawn under a
Letter of Credit by the beneficiary thereof, the Borrowers shall reimburse the Issuing Lender by having such amount drawn treated as an outstanding Revolving Credit Base Rate Loan under this Agreement (Borrowers being deemed to have requested a
Revolving Credit Base Rate Loan on such date in an amount equal to the amount of such drawing and such amount drawn shall be treated as an outstanding Revolving Credit Base Rate Loan under this Agreement) and the Agent shall promptly notify each
Revolving Credit Lender by telex, telecopy, telegram, telephone (confirmed in writing) or other similar means of transmission, and each Revolving Credit Lender shall promptly and unconditionally pay to the Agent, for the Issuing Lender’s own
account, an amount equal to such Revolving Credit Lender’s Revolving Credit Commitment Percentage of such Letter of Credit (to the extent of the amount drawn). Borrowers further hereby irrevocably authorize and direct Agent to notify the
Revolving Credit Lenders of Borrowers’ intent to convert such Revolving Credit Base Rate Loan to a Revolving Credit LIBOR Rate Loan with an Interest Period of one (1) month on the third (3rd
) Business Day following the funding by the Revolving Credit Lenders of their advance under this §2.10(f), provided that the making of such Revolving Credit LIBOR Rate Loan shall not be a
contravention of any provision of this Agreement. If and to the extent any Revolving Credit Lender shall not make such amount available on the Business Day on which such draw is funded, such Revolving Credit Lender agrees to pay such amount to the
Agent forthwith on demand, together with interest thereon, for each day from the date on which such draw was funded until the date on which such amount is paid to the Agent, at the Federal Funds Effective Rate until three (3) days after the
date on which the Agent gives notice of such draw and at the Federal Funds Effective Rate plus one percent (1.0%) for each day thereafter. Further, such Revolving Credit Lender shall be deemed to have assigned any and all payments made of
principal and interest on its Revolving Credit 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 Revolving
Credit Lender was required to fund pursuant to this §2.10(f) until such amount has been funded (as a result of such assignment or otherwise). In the event of any such failure or refusal, the Revolving Credit Lenders not so failing or refusing
shall be entitled to a priority secured position for such amounts as provided in §12.5. The failure of any Revolving Credit Lender to make funds available to the Agent in such amount shall not relieve any other Revolving Credit Lender of its
obligation hereunder to make funds available to the Agent pursuant to this §2.10(f). 
 (g) If after the issuance of a Letter of
Credit pursuant to §2.10(c) by the Issuing Lender, but prior to the funding of any portion thereof by a Revolving Credit Lender, for any reason a drawing under a Letter of Credit cannot be refinanced as a Revolving Credit Loan, each Revolving
Credit Lender will, on the date such Revolving Credit Loan pursuant to §2.10(f) was to have been made, purchase an undivided participation interest in the Letter of Credit in an amount equal to its Revolving Credit Commitment Percentage of the
amount of such Letter of Credit. Each Revolving Credit Lender will immediately transfer to the Issuing Lender in immediately available funds the amount of its participation and upon receipt thereof the Issuing Lender will deliver to such Revolving
Credit Lender a Letter of Credit participation certificate dated the date of receipt of such funds and in such amount. 
 (h) Whenever at any
time after the Issuing Lender has received from any Revolving Credit Lender any such Revolving Credit Lender’s payment of funds under a Letter of Credit and thereafter the Issuing Lender receives any payment on account thereof, then the 

  

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Issuing Lender will distribute to such Revolving Credit Lender its participation interest in such amount (appropriately adjusted in the case of interest
payments to reflect the period of time during which such Revolving Credit Lender’s participation interest was outstanding and funded); provided, however, that in the event that such payment received by the Issuing Lender is
required to be returned, such Revolving Credit Lender will return to the Issuing Lender any portion thereof previously distributed by the Issuing Lender to it. 
 (i) 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. 
 (j) Borrowers assume all risks of the acts, omissions, or misuse of any Letter of Credit by the beneficiary thereof. Neither Agent, Issuing Lender 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, Issuing Lender 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, Issuing Lender or the other Lenders in good faith will be binding on Borrowers and will not put Agent, Issuing Lender or the other Lenders under any resulting liability to Borrowers; provided nothing
contained herein shall relieve Issuing Lender for liability to Borrowers arising as a result of the gross negligence or willful misconduct of Issuing Lender as determined by a court of competent jurisdiction after the exhaustion of all applicable
appeal periods. 
 §2.11 Increase in Total Revolving Credit Commitment. 
 (a) Provided that no Default or Event of Default has occurred and is continuing, subject to the terms and conditions set forth in this §2.11, the
Borrowers shall have the option at any time and from time to time before the date that is ninety (90) days prior to the Revolving Credit Maturity Date (or the extended maturity date if Borrowers exercise their extension option pursuant to
§2.12) to request an increase in the Total Revolving Credit Commitment to not more than $475,000,000.00 by giving written notice to the Agent (an “Increase Notice”; and the amount of such requested increase is the “Commitment
Increase”), provided that any such individual increase must be in a minimum amount of $25,000,000.00. 

  

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Upon receipt of any Increase Notice, the Agent shall consult with Arranger and shall notify the Borrowers of the amount of facility fees to be paid to any
Revolving Credit Lenders who provide an additional Revolving Credit Commitment in connection with such increase in the Total Revolving Credit Commitment (which shall be in addition to the fees to be paid to Agent or Arranger pursuant to the
Agreement Regarding Fees). If the Borrowers agree to pay the facility fees so determined, then the Agent shall send a notice to all Revolving Credit Lenders (the “Additional Commitment Request Notice”) informing them of the Borrowers’
request to increase the Total Revolving Credit Commitment and of the facility fees to be paid with respect thereto. Each Revolving Credit Lender who desires to provide an additional Revolving Credit Commitment upon such terms shall provide Agent
with a written commitment letter specifying the amount of the additional Revolving Credit Commitment by which it is willing to provide prior to such deadline as may be specified in the Additional Commitment Request Notice. If the requested increase
is oversubscribed then the Agent and the Arranger shall allocate the Commitment Increase among the Revolving Credit Lenders who provide such commitment letters on such basis as the Agent and the Arranger shall determine in their sole discretion. If
the additional Revolving Credit Commitments so provided are not sufficient to provide the full amount of the Commitment Increase requested by the Borrowers, then the Agent, Arranger or Borrowers may, but shall not be obligated to, invite one or more
banks or lending institutions (which banks or lending institutions shall be acceptable to Agent, Arranger and Parent Borrower) to become a Revolving Credit Lender and provide an additional Revolving Credit Commitment. The Agent shall provide all
Revolving Credit Lenders with a notice setting forth the amount, if any, of the additional Revolving Credit Commitment to be provided by each Revolving Credit Lender and the revised Revolving Credit Commitment Percentages which shall be applicable
after the effective date of the Commitment Increase specified therein (the “Commitment Increase Date”). In no event shall any Revolving Credit Lender be obligated to provide an additional Revolving Credit Commitment. 
 (b) On any Commitment Increase Date the outstanding principal balance of the Revolving Credit Loans shall be reallocated among the Revolving Credit
Lenders such that after the applicable Commitment Increase Date the outstanding principal amount of Revolving Credit Loans owed to each Revolving Credit Lender shall be equal to such Revolving Credit Lender’s Revolving Credit Commitment
Percentage (as in effect after the applicable Commitment Increase Date) of the outstanding principal amount of all Revolving Credit Loans. The participation interests of the Revolving Credit Lenders in Swing Loans and Letters of Credit shall be
similarly adjusted. On any Commitment Increase Date those Revolving Credit Lenders whose Revolving Credit Commitment Percentage is increasing shall advance the funds to the Agent and the funds so advanced shall be distributed among the Revolving
Credit Lenders whose Revolving Credit Commitment Percentage is decreasing as necessary to accomplish the required reallocation of the outstanding Revolving Credit Loans. The funds so advanced shall be Revolving Credit Base Rate Loans until converted
to Revolving Credit LIBOR Rate Loans which are allocated among all Revolving Credit Lenders based on their Revolving Credit Commitment Percentages. 
 (c) Upon the effective date of each increase in the Total Revolving Credit Commitment pursuant to this §2.11 the Agent may unilaterally revise Schedule 1.1 and the Borrowers shall execute and deliver to the Agent new
Revolving Credit Notes for each Revolving Credit Lender whose Revolving Credit Commitment has changed so that the principal 

  

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amount of such Revolving Credit Lender’s Revolving Credit Note shall equal its Revolving Credit Commitment. The Agent shall deliver such replacement
Revolving Credit Notes to the respective Revolving Credit Lenders in exchange for the Revolving Credit Notes replaced thereby which shall be surrendered by such Revolving Credit Lenders. Such new Revolving Credit Notes shall provide that they are
replacements for the surrendered Revolving Credit Notes and that they do not constitute a novation, shall be dated as of the Commitment Increase Date and shall otherwise be in substantially the form of the replaced Revolving Credit Notes. Within
five (5) days of issuance of any new Revolving Credit Notes pursuant to this §2.11(c), the Borrowers shall deliver an opinion of counsel, addressed to the Revolving Credit Lenders and the Agent, relating to the due authorization, execution
and delivery of such new Revolving Credit Notes and the enforceability thereof, in form and substance substantially similar to the opinion delivered in connection with the first disbursement under this Agreement. The surrendered Revolving Credit
Notes shall be canceled and returned to the Borrowers. 
 (d) Notwithstanding anything to the contrary contained herein, the obligation of
the Agent and the Revolving Credit Lenders to increase the Total Revolving Credit Commitment pursuant to this §2.11 shall be conditioned upon satisfaction of the following conditions precedent which must be satisfied prior to the effectiveness
of any increase of the Total Commitment: 
 (i) Payment of Activation Fee. The Borrowers shall pay (A) to the Agent those fees
described in and contemplated by the Agreement Regarding Fees with respect to the applicable Commitment Increase, and (B) to the Arranger such facility fees as the Revolving Credit Lenders who are providing an additional Revolving Credit
Commitment may require to increase the aggregate Revolving Credit Commitment, which fees shall, when paid, be fully earned and non-refundable under any circumstances. The Arranger shall pay to the Revolving Credit Lenders acquiring the increased
Revolving Credit Commitment certain fees pursuant to their separate agreement; and 
 (ii) No Default. On the date any Increase
Notice is given and on the date such increase becomes effective, both immediately before and after the Total Revolving Credit Commitment is increased, there shall exist no Default or Event of Default; and 
 (iii) Representations True. The representations and warranties made by the Borrowers in the Loan Documents or otherwise made by or on behalf of
the Borrowers in connection therewith or after the date thereof shall have been true and correct in all material respects when made and shall also be true and correct in all material respects on the date of such Increase Notice and on the date the
Total Revolving Credit Commitment is increased, both immediately before and after the Total Revolving Credit Commitment is increased; and 
 (iv) Additional Documents and Expenses. The Borrowers shall execute and deliver to Agent and the Revolving Credit Lenders such additional documents (including, without limitation, amendments to the Security Documents), instruments,
certifications and opinions as the Agent may reasonably require in its sole and absolute discretion, including, without limitation, a Compliance Certificate, demonstrating compliance with all covenants, representations and warranties set forth in
the Loan Documents after giving effect to the increase, and the Borrowers shall pay the cost of any mortgagee’s title insurance 

  

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policy or any endorsement or update thereto or any updated UCC searches, all recording costs and fees, and any and all intangible taxes or other documentary
or mortgage taxes, assessments or charges or any similar fees, taxes or expenses which are demanded in connection with such increase; and 
 (v) Other. The Borrowers shall satisfy such other conditions to such increase as Agent may require in its reasonable discretion. 
 §2.12 Extension of Revolving Credit Maturity Date. The Borrowers shall have the one-time right and option to extend the Revolving Credit Maturity Date to August 7, 2011, upon satisfaction of the following conditions
precedent, which must be satisfied prior to the effectiveness of any extension of the Revolving Credit Maturity Date: 
 (a) Extension
Request. The Borrowers shall deliver written notice of such request (the “Extension Request”) to the Agent not earlier than the date which is one hundred twenty (120) days and not later than the date which is ninety (90) days
prior to the Revolving Credit Maturity Date (as determined without regard to such extension). Any such Extension Request shall be irrevocable and binding on the Borrowers. 
 (b) Payment of Extension Fee. The Borrowers shall pay to the Agent for the pro rata accounts of the Revolving Credit Lenders in accordance
with their respective Revolving Credit Commitments an extension fee in an amount equal to fifteen (15) basis points on the Total Revolving Credit Commitment in effect on the Revolving Credit Maturity Date (as determined without regard to such
extension), which fee shall, when paid, be fully earned and non-refundable under any circumstances. 
 (c) No Default. On the date the
Extension Request is given and on the Revolving Credit Maturity Date (as determined without regard to such extension) there shall exist no Default or Event of Default. 
 (d) Representations and Warranties. The representations and warranties made by the Borrowers in the Loan Documents or otherwise made by or on behalf of the Borrowers in connection therewith or after the date
thereof shall have been true and correct in all material respects when made and shall also be true and correct in all material respects on the date the Extension Request is given and on the Revolving Credit Maturity Date (as determined without
regard to such extension). 
 (e) Updated Appraisals. Agent at its option shall have obtained at Borrowers’ expense new
Appraisals or updates to existing Appraisals and determined the current Appraised Values of the Mortgaged Properties. 
 §2.13
Reduction of Revolving Credit Commitment Upon Failure to Occur of Capital Event. Notwithstanding anything in this Agreement to the contrary, in the event that the Capital Event has not occurred on or before August 7, 2008, the Revolving
Credit Commitments shall be reduced in connection with and in an amount equal to each payment of Additional Principal pursuant to §3.5 and the amount of each release price paid to Agent for the account of the Lenders pursuant to §5.4 after
such date. No reduction of the Revolving Credit Commitments may be reinstated, except that upon the occurrence of the Capital Event, the Revolving Credit 

  

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Commitment shall be reinstated and increased by an amount equal to the amount such Revolving Credit Commitments have been reduced pursuant to this §2.13
and no further reductions of the Revolving Credit Commitment shall be made under this §2.13. 
 §3. REPAYMENT OF THE LOANS. 
 §3.1 Stated Maturity. The Borrowers promise to pay on the Revolving Credit Maturity Date and there shall become absolutely due and payable on
the Revolving Credit Maturity Date all of the Revolving Credit Loans, Swing Loans and other Letter of Credit Liabilities outstanding on such date, together with any and all accrued and unpaid interest thereon. The Borrowers promise to pay on the
Term Loan Maturity Date and there shall become absolutely due and payable on the Term Loan Maturity Date all of the Term Loans outstanding on such date, together with any and all accrued and unpaid interest thereon. 
 §3.2 Mandatory Prepayments. If at any time (including, without limitation, as a result of the application of §2.13) the sum of the
aggregate outstanding principal amount of the Revolving Credit Loans, the Swing Loans and the Letter of Credit Liabilities exceeds (a) the Total Revolving Credit Commitment or (b) the sum of the Borrowing Base Availability less the
outstanding principal balance of the Term Loans, then the Borrowers shall, within five (5) Business Days of such occurrence pay the amount of such excess to the Agent for the respective accounts of the Revolving Credit Lenders, as applicable,
for application to the Revolving Credit Loans as provided in §3.4, together with any additional amounts payable pursuant to §4.8, except that the amount of any Swing Loans shall be paid solely to the Swing Loan Lender. In the event there
shall have occurred a casualty with respect to any Mortgaged Property and the Borrowers are required to repay the Loans pursuant to §7.7 or a Taking and the Borrowers are required to repay the Loans pursuant to a Mortgage or §7.7, the
Borrowers shall prepay the Loans concurrently with the date of receipt by such Borrower or the Agent of any Insurance Proceeds or Condemnation Proceeds in respect of such casualty or Taking, as applicable, or as soon thereafter as is reasonably
practicable, in the amount required pursuant to the relevant provisions of §7.7 or such Mortgage. 
 §3.3 Optional
Prepayments. 
 (a) The Borrowers shall have the right, at its election, to prepay the outstanding amount of the Revolving Credit Loans
and Swing Loans, as a whole or in part, at any time without penalty or premium; provided, that if any prepayment of the outstanding amount of any Revolving Credit LIBOR Rate Loans pursuant to this §3.3 is made on a date that is not the
last day of the Interest Period relating thereto, such prepayment shall be accompanied by the payment of any amounts due pursuant to §4.8. 
 (b) The Borrowers may not voluntarily prepay the Term Loan Notes in whole or in part at any time prior to the expiration of the Lock-Out Period, nor shall the Term Loan Lenders be obligated to accept any such prepayment tendered by
Borrowers. After the expiration of the Lock-Out Period, Borrowers shall have the right, at their election, to prepay the outstanding amount of the Term Loans, as a whole or in part, at any time without penalty or premium except as otherwise provided
herein. In connection with any prepayment of the Term Loan permitted hereunder (or accepted with the approval of the Term Loan Lenders) (but not 

  

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including any payments as a result of the application of casualty and condemnation proceeds so long as no Event of Default Exists), the Borrowers shall pay
Agent for the account of the Term Loan Lenders any sums that may be due under §4.8 and a prepayment fee in an amount equal to (i) one percent (1.0%) of the amount of the Term Loans prepaid if prepayment occurs on or before
February 7, 2009, and (ii) one half of one percent (0.5%) of the amount of the Term Loans prepaid if prepayment occurs between February 8, 2009 and August 7, 2009. No prepayment fees shall be due on prepayments made after
August 7, 2009. Under any and all circumstances where all or any portion of the Term Loans is paid prior to the dates set forth above, whether such prepayment is voluntary or involuntary, even if such prepayment results from Agent’s or the
Lenders’ exercise of its rights upon the occurrence of an Event of Default and acceleration of the Revolving Credit Maturity Date or the Term Loan Maturity Date (irrespective of whether foreclosure proceedings have been commenced), Borrowers
shall to the extent permitted by applicable law pay to the Lenders the prepayment fee calculated as provided above, which prepayment fee shall be in addition to any other sums due hereunder or under any of the other Loan Documents. No tender of a
prepayment of the Term Loans with respect to which a prepayment fee is due shall be effective unless such prepayment is accompanied by the prepayment fee. 
 (c) The Borrowers shall give the Agent, no later than 10:00 a.m. (Cleveland time) at least three (3) days prior written notice of any prepayment pursuant to this §3.3, in each case specifying the
proposed date of prepayment of the Loans and the principal amount to be prepaid (provided that any such notice may be revoked or modified upon one (1) day’s prior notice to the Agent). Notwithstanding the foregoing, no prior notice shall
be required for the prepayment of any Swing Loan. 
 §3.4 Partial Prepayments. Each partial prepayment of the Loans under
§3.3 shall be in a minimum amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under
§3.2 and §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then, in the absence of instruction by the Borrowers, to the principal of Revolving Credit Loans and then to the principal of Term Loans (and with
respect to each category of Loans, first to the principal of Base Rate Loans, and then to the principal of LIBOR Rate Loans). 
 §3.5
Additional Principal Payments. 
 (a) In the event that the Capital Event has not occurred on or before August 7, 2008, then
commencing September 10, 2008 and continuing on the 10th day of each month thereafter until the occurrence of the Capital Event, Borrowers shall pay to Agent for the account of the Lenders as a prepayment of principal of the Loans an amount
equal to the Excess Cash Flow from the preceding month (such payments of principal hereinafter referred to as “Additional Principal”), together with any amounts due pursuant to §4.8. Additional Principal shall first be applied to the
outstanding principal of Swing Loans, then to the outstanding principal of Revolving Credit Loans, and then to the outstanding principal of Term Loans. The amount of Additional Principal shall be subject to adjustment in accordance with the terms of
this Agreement. 
  

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 (b) With each payment of Additional Principal, and within ninety (90) days after the close of each
twelve (12) monthly calculation periods, as applicable, Borrowers shall furnish to Agent a statement in form and substance reasonably satisfactory to Agent, (i) itemizing the Excess Cash Flow for the immediately preceding calculation
period or twelve (12) month period, as applicable, and (ii) setting forth the calculation of Additional Principal for such calculation period or such twelve (12) month period, as applicable. Borrowers shall deliver to Agent with each
such statement an affidavit signed by the chief financial or accounting officer of Parent Borrower certifying that such statement has been prepared in accordance with the terms of this Agreement and presents correctly the items shown therein. Upon
the written request of Agent, Parent Borrower shall cause such statements to be audited by an independent certified public accountant reasonably acceptable to Agent, and Parent Borrower shall provide Agent with such audited statements within one
hundred twenty (120) days after the end of each calendar year. The costs of such audit shall be borne by Parent Borrower. 
 (c) Agent
may notify Parent Borrower within ninety (90) days after the receipt of any such statement that Agent disputes any computation or item contained in any portion of such statement. In the event Agent so notifies Parent Borrower, the parties shall
meet in good faith to resolve such disputed items. If the parties are unable to resolve such disputed items between themselves within thirty (30) days after written notice from Agent to Parent Borrower of such disagreement, the item shall be
submitted to arbitration, which arbitration shall be performed by an independent certified public accountant selected by Agent and reasonably satisfactory to Parent Borrower, whose determination shall be final. The fees of such accountant shall be
paid by Parent Borrower. 
 (d) Following receipt and approval by Agent of each statement for twelve (12) calculation periods, payment
of the cumulative Additional Principal shall be adjusted based upon the final calculation of Excess Cash Flow for such period, and Borrowers shall pay Agent for the account of the Lenders as provided in this §3.5, upon delivery of such
statement (or within ten (10) days after the resolution of a dispute pursuant to §3.5(c) above), any additional amount due to Agent for the account of the Lenders as a prepayment of principal. If Borrowers’ payments to Agent of
Additional Principal for the preceding twelve (12) calculation periods exceed the amount actually due to Agent, such amount shall be deducted from the next succeeding payments of Additional Principal due until the credit has been depleted, it
being agreed that in no event shall Agent or the Lenders be required to return such amounts to Borrowers. 
 (e) Notwithstanding any of the
foregoing provisions or any other provision of this Agreement, neither Agent nor any Lender shall in any event be liable to Borrowers with respect to any operating loss of the Mortgaged Property or of Borrowers. If at any time it is calculated
Additional Principal shall be a negative amount, neither Agent nor any Lender shall in any way be liable for such amount, and there shall be no deduction or offset for such negative amount at any time when Additional Principal shall be subsequently
calculated except for adjustments to Additional Principal as described in §3.5(d) above. 
 §3.6 Effect of Prepayments.
Amounts of the Revolving Credit Loans prepaid under §3.2 and §3.3 prior to the Revolving Credit Maturity Date may be reborrowed as provided in §2. Any portion of the Term Loans that is prepaid may not be reborrowed. 
  

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 §4. CERTAIN GENERAL PROVISIONS. 
 §4.1 Conversion Options. 
 (a) The Borrowers may elect from time to time to convert any of its
outstanding Revolving Credit Loans or Term Loans to a Revolving Credit Loan or Term Loan of another Type and such Revolving Credit Loans or Term Loans shall thereafter bear interest as a Base Rate Loan or a LIBOR Rate Loan, as applicable;
provided that (i) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers shall give the Agent at least one (1) Business Day’s prior written notice of such election, and such conversion shall
only be made on the last day of the Interest Period with respect to such LIBOR Rate Loan; (ii) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers shall give the Agent at least three (3) LIBOR
Business Days’ prior written notice of such election and the Interest Period requested for such Loan, the principal amount of the Loan so converted shall be in a minimum aggregate amount of $1,000,000.00 or an integral multiple of $250,000.00
in excess thereof and, after giving effect to the making of such Loan, there shall be no more than eight (8) Revolving Credit LIBOR Rate Loans and two (2) Term LIBOR Rate Loans outstanding at any one time; and (iii) 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 the outstanding Revolving Credit Loans or Term Loans of any Type may be converted as provided herein, provided that no
partial conversion shall result in a Revolving Credit Base Rate Loan or Term Base Rate Loan in a principal amount of less than $1,000,000.00 or an integral multiple of $100,000.00 or a Revolving Credit LIBOR Rate Loan or a Term LIBOR Rate Loan in a
principal amount of less than $1,000,000.00 or an integral multiple of $250,000.00. On the date on which such conversion is being made, each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Loans to its
Domestic Lending Office or its LIBOR Lending Office, as the case may be. Each Conversion/Continuation Request relating to the conversion of a Base Rate Loan to a LIBOR Rate Loan shall be irrevocable by the Borrowers. 
 (b) Any LIBOR Rate Loan may be continued as such Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrowers with
the terms of §4.1; 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 Interest
Period relating thereto ending during the continuance of any Default or Event of Default. 
 (c) In the event that the Borrowers do not
notify the Agent of their election hereunder with respect to any LIBOR Rate Loan, such Loan shall be automatically continued at the end of the applicable Interest Period as a LIBOR Rate Loan for an Interest Period of one month unless such Interest
Period shall be greater than the time remaining until the Maturity Date, in which case such Loan shall be automatically converted to a Base Rate Loan at the end of the applicable Interest Period. 
 §4.2 Fees. The Borrowers agree to pay to KeyBank and Agent for their own account certain fees for services rendered or to be rendered in
connection with the Loans as provided pursuant to a fee letter dated May 21, 2007 between Dupont Fabros and KeyBank (the “Agreement Regarding Fees”). Borrowers hereby assume all obligations of Dupont Fabros under the Agreement
Regarding Fees. All such fees shall be fully earned when paid and nonrefundable under any circumstances. 
  

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 §4.3 [Intentionally Omitted.] 
 §4.4 Funds for Payments. 
 (a)
All payments of principal, interest, facility fees, Letter of Credit fees, closing 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 and the
Agent, as the case may be, at the Agent’s Head Office, not later than 2:00 p.m. (Cleveland time) on the day when due, in each case in lawful money of the United States in immediately available funds. The Agent is hereby authorized to charge the
accounts of the Borrowers with KeyBank, on the dates when the amount thereof shall become due and payable, with the amounts of the principal of and interest on the Loans and all fees, charges, expenses and other amounts owing to the Agent and/or the
Lenders (including the Swing Loan Lender) under the Loan Documents. Subject to the foregoing, all payments made to Agent on behalf of the Lenders, and actually received by Agent, shall be deemed received by the Lenders on the date actually received
by Agent. 
 (b) All payments by the Borrowers 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 (other than income or franchise taxes imposed on any Lender), levies, imposts, duties, charges, fees, deductions, withholdings, compulsory loans, 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 Borrowers are compelled by law to make such deduction or withholding. If any such obligation is
imposed upon the Borrowers with respect to any amount payable by it hereunder or under any of the other Loan Documents, the Borrowers will pay to the Agent, for the account of the Lenders (including the Swing Loan Lender) 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 or the Agent to receive the same net amount which the Lenders or
the Agent would have received on such due date had no such obligation been imposed upon the Borrowers. The Borrowers will deliver promptly to the Agent certificates or other valid vouchers for all taxes or other charges deducted from or paid with
respect to payments made by the Borrowers hereunder or under any other Loan Document. 
 (c) Each Lender organized under the laws of a
jurisdiction outside the United States, if requested in writing by the Borrowers (but only so long as such Lender remains lawfully able to do so), shall provide the Borrowers with such duly executed form(s) or statement(s) which may, from time to
time, be prescribed by law and, which, pursuant to applicable provisions of (i) an income tax treaty between the United States and the country of residence of such Lender, (ii) the Code, or (iii) any applicable rules or regulations in
effect under (i) or (ii) above, indicates the withholding status of such Lender; provided that nothing herein (including without limitation the failure or inability to provide such form or statement) shall relieve the Borrowers of
their obligations under §4.4(b). In the event that the Borrowers shall have delivered the certificates or vouchers described above for any payments made by the Borrowers and such Lender receives a refund of any taxes paid by the Borrowers
pursuant to 

  

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§4.4(b), such Lender will pay to the Borrowers the amount of such refund promptly upon receipt thereof; provided that if at any time thereafter
such Lender is required to return such refund, the Borrowers shall promptly repay to such Lender the amount of such refund. 
 (d) The
obligations of the Borrowers to the Lenders under this Agreement (and of the Revolving Credit Lenders to make payments to the Issuing Lender with respect to Letters of Credit and to the Swing Loan Lender with respect to Swing Loans) 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 lack of
validity or enforceability of this Agreement, any Letter of Credit or any of the other Loan Documents; (ii) 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; (iii) the existence of any claim, set-off, defense or any right which the Borrowers or any of their Subsidiaries or Affiliates 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 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; (iv) any draft, demand, certificate, 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; (v) any breach of any agreement between Borrowers or any of their Subsidiaries or Affiliates and any
beneficiary or transferee of any Letter of Credit; (vi) 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;
(vii) payment by the Issuing Lender under any Letter of Credit against presentation of a sight draft, demand, certificate or other document 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 Issuing Lender as determined by a court of competent jurisdiction after the exhaustion of all applicable appeal periods; (viii) any non-application or misapplication
by the beneficiary of a Letter of Credit of the proceeds of such Letter of Credit; (ix) the legality, validity, form, regularity or enforceability of the Letter of Credit; (x) the failure of any payment by Issuing Lender to conform to the
terms of a Letter of Credit (if, in Issuing Lender’s good faith judgment, such payment is determined to be appropriate); (xi) the surrender or impairment of any security for the performance or observance of any of the terms of any of the
Loan Documents; (xii) the occurrence of any Default or Event of Default; and (xiii) 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 Issuing Lender or the Swing Loan Lender, as applicable as determined by a court of competent jurisdiction after the exhaustion of all applicable appeal
periods. 
 §4.5 Computations. All computations of interest on the Loans and of other fees to the extent applicable shall be
based on a 360-day year (or a 365 day year in the case of Base Rate Loans) and 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 

  

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Day, and interest shall accrue during such extension. The Outstanding Loans and Letter of Credit Liabilities as reflected on the records of the Agent from
time to time shall be considered prima facie evidence of such amount absent manifest error. 
 §4.6 Suspension of LIBOR Rate
Loans. In the event that, 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 LIBOR for such Interest Period, or the Agent
shall reasonably determine that LIBOR will not accurately and fairly reflect the cost of the Lenders making or maintaining LIBOR Rate Loans for such Interest Period, the Agent shall forthwith give notice of such determination (which shall be
conclusive and binding on the Borrowers and the Lenders absent manifest error) to the Borrowers and the Lenders. In such event (a) any Loan Request with respect to a LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request
for a Base Rate Loan and (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 the obligations of the Lenders to make LIBOR Rate Loans shall be
suspended until the Agent determines that the circumstances giving rise to such suspension no longer exist, whereupon the Agent shall so notify the Borrowers and the Lenders. 
 §4.7 Illegality. Notwithstanding any other provisions herein, if any present or future law, regulation, treaty or directive or the
interpretation or application thereof shall make it unlawful, or any central bank or other governmental authority having jurisdiction over a Lender or its LIBOR Lending Office shall assert that it is 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 Borrowers and thereupon (a) the commitment of the Lenders to make LIBOR Rate Loans shall forthwith be suspended and (b) the 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. Notwithstanding the foregoing, before
giving such notice, the applicable Lender shall designate a different lending office if such designation will void the need for giving such notice and will not, in the judgment of such Lender, be otherwise materially disadvantageous to such Lender
or increase any costs payable by Borrowers hereunder. 
 §4.8 Additional Interest. If any LIBOR Rate Loan or any portion thereof
is repaid or is converted to a Base Rate Loan for any reason on a date which is prior to the last day of the Interest Period applicable to such LIBOR Rate Loan, or if repayment of the Loans has been accelerated as provided in §12.1, the
Borrowers will pay to the Agent upon demand for the account of the applicable Lenders in accordance with their respective Commitment Percentages (or to the Swing Loan Lender with respect to a Swing Loan), in addition to any amounts of interest
otherwise payable hereunder, the Breakage Costs. Borrowers understand, agree and acknowledge the following: (i) no Lender has any obligation to purchase, sell and/or match funds in connection with the use of LIBOR as a basis for calculating the
rate of interest on a LIBOR Rate Loan; (ii) LIBOR is used merely as a reference in determining such rate; and (iii) Borrowers have accepted LIBOR as a reasonable and fair basis for calculating such rate and any Breakage Costs. Borrowers
further agree to pay the Breakage Costs, if any, whether or not a Lender elects to purchase, sell and/or match funds. 
  

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 §4.9 Additional Costs, Etc. Notwithstanding anything herein to the contrary, 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), 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, such Lender’s Commitment, a Letter of Credit or the Loans (other than taxes based upon or measured by the gross receipts, income or
profits of such Lender or the Agent or its franchise tax), or 
 (b) materially change the basis of taxation (except for changes in taxes on
gross receipts, income or profits or its franchise tax) of payments to any Lender of the principal of or the interest on any Loans or any other amounts payable to any Lender under this Agreement or the other Loan Documents, or 
 (c) impose or increase or render applicable any special deposit, reserve, assessment, liquidity, capital adequacy or other similar requirements (whether
or not having the force of law and which are not already reflected in any amounts payable by Borrowers hereunder) against assets held by, or deposits in or for the account of, or loans 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, a Letter of Credit 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, the Letters of Credit or such
Lender’s Commitment, or 
 (ii) to reduce the amount of principal, interest or other amount payable to any Lender or the Agent
hereunder on account of such Lender’s Commitment or any of the Loans or the Letters of Credit, or 
 (iii) to require any Lender or the
Agent to make any payment or to forego any interest or other sum payable hereunder, the amount of which payment or foregone interest 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 Borrowers hereunder, then, and in each such case, the Borrowers will, within fifteen (15) days of demand made by such Lender or (as the case may be) the Agent 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. Each Lender and the Agent in determining such amounts may use any reasonable averaging and attribution methods generally applied by such Lender or the Agent. 
  

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 §4.10 Capital Adequacy. If after the date hereof any Lender determines that (a) the
adoption of or change in any law, rule, regulation or guideline regarding capital requirements for banks or bank holding companies or any change in the interpretation or application thereof by any governmental authority charged with the
administration thereof, or (b) compliance by such Lender or its parent bank holding company with any guideline, request or directive of any such entity regarding capital adequacy (whether or not having the force of law), has the effect of
reducing the return on such Lender’s or such holding company’s capital as a consequence of such Lender’s commitment to make Loans or participate in Letters of Credit hereunder to a level below that which such Lender or holding company
could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s or such holding company’s then existing policies with respect to capital adequacy and assuming the full utilization of such
entity’s capital) by any amount deemed by such Lender to be material, then such Lender may notify the Borrowers thereof. The Borrowers agree to pay to such Lender the amount of such reduction in the return on capital as and when such reduction
is determined, upon presentation by such Lender of a statement of the amount setting forth the Lender’s calculation thereof. In determining such amount, such Lender may use any reasonable averaging and attribution methods generally applied by
such Lender. 
 §4.11 Breakage Costs. Borrowers shall pay all Breakage Costs required to be paid by them pursuant to this
Agreement and incurred from time to time by any Lender upon demand within fifteen (15) days from receipt of written notice from Agent, or such earlier date as may be required by this Agreement. 
 §4.12 Default Interest; Late Charge. Following the occurrence and during the continuance of any Event of Default, and regardless of whether
or not the Agent or the Lenders shall have accelerated the maturity of the Loans, all Loans shall bear interest payable on demand at a rate per annum equal to two percent (2.0%) above the Base Rate (the “Default Rate”), until such
amount shall be paid in full (after as well as before judgment), and the fee payable with respect to Letters of Credit shall be increased to a rate equal to two percent (2.0%) above the Letter of Credit fee that would otherwise be applicable to
such time, or if any of such amounts shall exceed the maximum rate permitted by law, then at the maximum rate permitted by law. In addition, the Borrowers shall pay a late charge equal to four percent (4.0%) of any amount of interest and/or
principal payable on the Loans or any other amounts payable hereunder or under the other Loan Documents, which is not paid by the Borrowers within ten (10) days of the date when due. 
 §4.13 Certificate. A certificate setting forth any amounts payable pursuant to §4.8, §4.9, §4.10, §4.11 or §4.12 and
a reasonably detailed explanation of such amounts which are due, submitted by any Lender or the Agent to the Borrowers, shall be conclusive in the absence of manifest error. 
 §4.14 Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between
or among the Borrowers, the Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby 

  

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limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted
for, charged or received by the Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Lenders in excess of the maximum lawful amount, the interest payable
to the Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount
equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations, such excess shall
be refunded to the Borrowers. All interest paid or agreed to be paid to the Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of
the Obligations (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This Section shall control all agreements between or among
the Borrowers, the Lenders and the Agent. 
 §4.15 Certain Provisions Relating to Increased Costs and Non-Funding Lenders. If a
Lender gives notice of the existence of the circumstances set forth in §4.7 or any Lender requests compensation for any losses or costs to be reimbursed pursuant to any one or more of the provisions of §4.4(b) (as a result of the
imposition of U.S. withholding taxes on amounts paid to such Lender under this Agreement), §4.9 or §4.10, then, upon request of Borrowers, such Lender, as applicable, shall use reasonable efforts in a manner consistent with such
institution’s practice in connection with loans like the Loan of such Lender to eliminate, mitigate or reduce amounts that would otherwise be payable by Borrowers under the foregoing provisions, provided that such action would not be
otherwise prejudicial to such Lender, including, without limitation, by designating another of such Lender’s offices, branches or affiliates; the Borrowers agreeing to pay all reasonably incurred costs and expenses incurred by such Lender in
connection with any such action. Notwithstanding anything to the contrary contained herein, if no Default or Event of Default shall have occurred and be continuing, and if any Lender (a) has given notice of the existence of the circumstances
set forth in §4.7 or has requested payment or compensation for any losses or costs to be reimbursed pursuant to any one or more of the provisions of §4.4(b) (as a result of the imposition of U.S. withholding taxes on amounts paid to such
Lender under this Agreement), §4.9 or §4.10 and following the request of Borrowers has been unable to take the steps described above to mitigate such amounts (each, an “Affected Lender”) or (b) has failed to make available
to Agent its pro rata share of any Loan or participation in a Letter of Credit or Swing Loan and such failure has not been cured (a “Non-Funding Lender”), then, within thirty (30) days after such notice or request for payment or
compensation or failure to fund, as applicable, Borrowers shall have the one-time right as to such Affected Lender or Non-Funding Lender, as applicable, to be exercised by delivery of written notice delivered to the Agent and the Affected Lender or
Non-Funding Lender, as applicable, within thirty (30) days of receipt of such notice or failure to fund, as applicable, to elect to cause the Affected Lender or Non-Funding Lender, as applicable, to transfer its Commitment. The Agent shall
promptly notify the remaining Lenders that each of such Lenders shall have the right, but not the obligation, to acquire a portion of the Commitment, pro rata based upon their relevant Commitment Percentages, of the Affected Lender or Non-Funding
Lender, as applicable (or if any of such Lenders does not elect to purchase its pro rata share, then to such remaining Lenders in such 

  

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proportion as approved by the Agent). In the event that the Lenders do not elect to acquire all of the Affected Lender’s or Non-Funding Lender’s
Commitment, then the Agent shall endeavor to obtain a new Lender to acquire such remaining Commitment. Upon any such purchase of the Commitment of the Affected Lender or Non-Funding Lender, as applicable, the Affected Lender’s or Non-Funding
Lender’s interest in the Obligations and its rights hereunder and under the Loan Documents shall terminate at the date of purchase, and the Affected Lender or Non-Funding Lender, as applicable, shall promptly execute all documents reasonably
requested to surrender and transfer such interest. The purchase price for the Affected Lender’s or Non-Funding Lender’s Commitment shall equal any and all amounts outstanding and owed by Borrowers to the Affected Lender or Non-Funding
Lender, as applicable, including principal, prepayment premium or fee, and all accrued and unpaid interest or fees. 
 §5. COLLATERAL SECURITY.

 §5.1 Collateral. The Obligations shall be secured by a perfected first priority lien and security interest to be held by the
Agent for the benefit of the Lenders on the Collateral, pursuant to the terms of the Security Documents. 
 §5.2 Appraisals; Adjusted
Value. 
 (a) Upon Borrowers’ request, which request may not be made more often than one (1) time in any period of 365 days,
Agent shall obtain current Appraisals of each of the Mortgaged Properties and the Stabilized Properties. Additionally, in the event that Borrowers elect to extend the Revolving Credit Maturity Date as provided in §2.12 or at Agent’s option
to be exercised not more frequently than annually, the Agent may on behalf of the Lenders obtain current Appraisals of each of the Mortgaged Properties and other Stabilized Properties. In addition, in the event that a Borrower or a Subsidiary of a
Borrower acquires Real Estate or in the event any property becomes a Stabilized Property, Agent may on behalf of the Lenders obtain a current Appraisal of each such property. In any such case, said Appraisals will be ordered by Agent and reviewed
and approved by the appraisal department of the Agent, in order to determine the current Appraised Value of the Mortgaged Properties and other Real Estate, as applicable, and the Borrowers shall pay to Agent within ten (10) days of demand all
reasonable costs of such Appraisals. 
 (b) Notwithstanding the provisions of §5.2(a), the Agent may, for the purpose of determining the
current Appraised Value of the Mortgaged Properties and other Real Estate, as applicable, obtain new Appraisals or an update to existing Appraisals with respect to such property, or any of them, as the Agent shall determine (i) at any time that
the regulatory requirements of any Lender generally applicable to real estate loans of the category made under this Agreement as reasonably interpreted by such Lender shall require more frequent Appraisals, or (ii) at any time following a
Default or Event of Default, or (iii) if the Agent reasonably believes that there has been a material adverse change with respect to any such property including, without limitation, a material change in the market in which any such property is
located which may affect the value of such property. The expense of such Appraisals and/or updates performed pursuant to this §5.2(b) shall be borne by the Borrowers and payable to Agent within ten (10) days of demand; provided the
Borrowers shall not be obligated to pay for an Appraisal of a property obtained pursuant to this §5.2(b) more often than once in any period of twelve (12) months. 
  

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 (c) The Borrowers acknowledge that the Agent has the right to approve any Appraisal performed pursuant to
this Agreement. The Borrowers further agree that the Lenders and Agent do not make any representations or warranties with respect to any such Appraisal and shall have no liability as a result of or in connection with any such Appraisal for
statements contained in such Appraisal, including without limitation, the accuracy and completeness of information, estimates, conclusions and opinions contained in such Appraisal, or variance of such Appraisal from the fair value of such property
that is the subject of such Appraisal given by the local tax assessor’s office, or the Borrowers’ idea of the value of such property. 
 (d) Except in connection with the addition of a Mortgaged Property, the acquisition of a Stabilized Property or a property becoming a Stabilized Property, whenever Appraisals of Mortgaged Properties or Stabilized Properties are obtained
pursuant to this Agreement, Appraisals of all such Mortgaged Properties and Stabilized Properties shall be obtained at the same time on a portfolio basis. 
 §5.3 Addition of Mortgaged Properties. 
 (a) After the Closing Date, Parent Borrower shall have
the right, subject to the consent of the Agent and the Required Lenders (which consent may be withheld in their sole and absolute discretion) and the satisfaction by Parent Borrower of the conditions set forth in this §5.3, to add Potential
Collateral to the Collateral. Parent Borrower from time to time after the Closing Date may also request that certain Real Estate of one or more Subsidiary Borrowers (collectively, the “Subsidiary Borrower Collateral”) be included as a
Mortgaged Property for the purpose of increasing the Borrowing Base Availability. In the event Parent Borrower desires to add additional Potential Collateral or Subsidiary Borrower Collateral as aforesaid, Parent Borrower shall provide written
notice to the Agent of such request (which the Agent shall promptly furnish to the Lenders), together with all documentation and other information required to permit the Agent to determine whether such Real Estate is Eligible Real Estate.
Thereafter, the Agent shall have ten (10) days from the date of the receipt of such documentation and other information to advise Parent Borrower whether the Required Lenders consent to the acceptance of such Subsidiary Borrower Collateral or
Potential Collateral. If a Lender shall fail to respond to Agent within such ten (10) day period, such Lender shall be deemed to have approved such proposed Subsidiary Borrower Collateral or Potential Collateral. Notwithstanding the foregoing,
no Subsidiary Borrower Collateral or Potential Collateral shall be included as Collateral unless and until the following conditions precedent shall have been satisfied: 
 (i) such Subsidiary Borrower Collateral or Potential Collateral shall be Eligible Real Estate; 
 (ii) the
owner of any Subsidiary Borrower Collateral (and any indirect owner of such Subsidiary Borrower) shall have executed a Joinder Agreement and satisfied the conditions of §5.5; 
  

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 (iii) Parent Borrower or the owner of the Subsidiary Borrower Collateral or Potential Collateral, as
applicable, shall have executed and delivered to the Agent all Eligible Real Estate Qualification Documents (which may include an assignment of interests with respect to any direct or indirect interests in the owner of such Subsidiary Borrower
Collateral), all of which instruments, documents or agreements shall be in form and substance reasonably satisfactory to the Agent; 
 (iv)
after giving effect to the inclusion of such Subsidiary Borrower Collateral or Potential Collateral, each of the representations and warranties made by or on behalf of the Borrowers 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 in all material respects both as of the date as of which it was made and shall also be true as of the time
of the replacement or addition of Mortgaged Properties, with the same effect as if made at and as of that time (it being understood and agreed that any representation or warranty which by its terms is made as of a specified date shall be required to
be true and correct only as of such specified date), and no Default or Event of Default shall have occurred and be continuing, and the Agent shall have received a certificate of Parent Borrower to such effect; and 
 (v) the Agent shall have consented to, and Agent shall have received the prior written consent of the Required Lenders to, the inclusion of such Real
Estate as a Mortgaged Property. 
 Notwithstanding the foregoing, in the event such Subsidiary Borrower Collateral or Potential Collateral
does not qualify as Eligible Real Estate, so long as the conditions set forth in clauses (ii), (iii) and (iv) of this §5.3 have been satisfied, such Subsidiary Borrower Collateral or Potential Collateral shall be included as
Collateral so long as the Agent shall have received the prior written consent of each of the Lenders to the inclusion of such Real Estate as a Mortgaged Property. 
 (b) Parent Borrower may, at its option, obtain preliminary approval of the Required Lenders of Subsidiary Borrower Collateral or Potential Collateral by delivering to the Agent and each of the Lenders the following
with respect to such Subsidiary Borrower Collateral or Potential Collateral: 
 (i) a physical description of the Real Estate; 
 (ii) current rent rolls, historic operating statements and operating and capital budgets (if available to Parent Borrower), and projected operating and
near-term capital expenditure budgets for such Real Estate reasonably satisfactory to the Required Lenders; 
 (iii) a current environmental
report, a current engineering report and similar information reasonably satisfactory to the Required Lenders; and 
 (iv) a certification to
the knowledge of Parent Borrower that such Real Estate will satisfy (or is anticipated to satisfy upon the acceptance of such Real Estate as Collateral) each of the other conditions to the acceptance of Real Estate as Collateral. The Required
Lenders shall have ten (10) days following receipt of all of the foregoing items to grant 

  

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or deny preliminary approval for such proposed Subsidiary Borrower Collateral or Potential Collateral. If a Lender shall fail to respond within such ten
(10) day period, such Lender shall be deemed to have approved such proposed Subsidiary Borrower Collateral or Potential Collateral. Agent shall notify Parent Borrower if and when the Required Lenders have granted such preliminary approval. In
the event that the Required Lenders grant such preliminary approval, Parent Borrower shall satisfy the remaining requirements to the acceptance of such Collateral as provided in §5.3(a). Such Real Estate shall not be included in the calculation
of the Borrowing Base Availability until the requirements of §5.3(a) are satisfied. 
 §5.4 Release of Mortgaged Property.
Provided no Default or Event of Default shall have occurred hereunder and be continuing (or would exist immediately after giving effect to the transactions contemplated by this §5.4), the Agent shall release a Mortgaged Property from the lien
or security title of the Security Documents encumbering the same in connection with a sale, other disposition or refinance upon the request of Parent Borrower subject to and upon the following terms and conditions: 
 (a) Parent Borrower shall deliver to the Agent written notice of its desire to obtain such release no later than ten (10) days prior to the date on
which such release is to be effected; 
 (b) Parent Borrower shall submit to the Agent with such request a Compliance Certificate prepared
using the financial statements of Parent Borrower most recently provided or required to be provided to the Agent under §6.4 or §7.4 adjusted in the best good faith estimate of Parent Borrower to give effect to the proposed release and
demonstrating that no Default or Event of Default with respect to the covenants referred to therein shall exist after giving effect to such release; 
 (c) until the occurrence of the Capital Event any release of a Mortgaged Property shall be subject to the prior written approval of the Required Lenders; 
 (d) all release documents to be executed by the Agent shall be in form and substance reasonably satisfactory to the Agent; 
 (e) Parent Borrower shall pay all reasonable costs and expenses of the Agent in connection with such release, including without limitation, reasonable
attorney’s fees; 
 (f) Parent Borrower shall pay to the Agent for the account of the Lenders a release price, which payment shall be
applied to reduce the outstanding principal balance of the Loans as provided in §3.4, in an amount equal to the amount necessary to reduce the outstanding principal balance of the Loans so that no violation of the covenant set forth in
§9.1 shall occur; provided, however, that notwithstanding the foregoing in this clause (f), in the event that the Capital Event has not occurred on or before August 7, 2008, then until the occurrence of the Capital Event
Borrower shall pay to the Agent for the account of the Lenders a release price, which shall be applied to reduce the outstanding principal balance of the Loans, in an amount equal to one hundred twenty-five percent (125%) of the Borrowing Base
Value of such Mortgaged Property as most recently determined under this Agreement; and 
  

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 (g) without limiting or affecting any other provision hereof, any release of a Mortgaged Property will
not cause the Borrowers to be in violation of the covenants set forth in §9.6. 
 §5.5 Additional Subsidiary Borrowers. In
the event that Parent Borrower shall request that certain Real Estate of a Subsidiary of Parent Borrower be included as a Mortgaged Property as contemplated by §5.3 and such Real Estate is approved for inclusion as a Mortgaged Property in
accordance with the terms hereof, Parent Borrower shall cause each such Subsidiary (and any entity having an interest in such Subsidiary of Parent Borrower) to execute and deliver to Agent a Joinder Agreement, and such Subsidiary (and any such
entity) shall become a Subsidiary Borrower hereunder. Each such Subsidiary shall be specifically authorized, in accordance with its respective organizational documents, to be a Borrower hereunder and to execute the Contribution Agreement and such
Security Documents as Agent may require. Parent Borrower shall further cause all representations, covenants and agreements in the Loan Documents with respect to Borrowers to be true and correct with respect to each such Subsidiary. Without limiting
the foregoing, each such Subsidiary shall be in compliance with the covenants set forth in §7.21. In connection with the delivery of such Joinder Agreement, Parent Borrower shall deliver to the Agent such organizational agreements, resolutions,
consents, opinions and other documents and instruments as the Agent may reasonably require. 
 §5.6 Release of Certain Subsidiary
Borrowers. In the event that all Mortgaged Properties owned by a Subsidiary Borrower shall have been released as Collateral for the Obligations and Hedge Obligations in accordance with the terms of this Agreement, then such Subsidiary Borrower
shall be released by Agent from liability under this Agreement. The provisions of this §5.6 shall not apply to any Subsidiary Borrower which owns a Mortgaged Property or any direct or indirect interest in a Mortgaged Property. 
 §5.7 Release of Collateral. 
 (a)
Provided no Default or Event of Default has occurred and is continuing, upon the occurrence of the Capital Event Agent shall release the lien and security interest created by the Assignment of Interests. 
 (b) Upon the refinancing or repayment of the Obligations in full and termination of the obligation to provide additional Loans or Letters of Credit to
Borrowers, then the Agent shall be entitled to release the Collateral from the lien and security interest of the Security Documents and to release the Borrowers, provided that Agent has not received a notice from the “Representative” (as
defined in §14.17) or the holder of the Hedge Obligations that any Hedge Obligation is then due and payable to the holder thereof. 
 §6.
REPRESENTATIONS AND WARRANTIES. 
 The Borrowers represent and warrant to the Agent and the Lenders as follows. 
 §6.1 Corporate Authority, Etc. 
 (a) Incorporation; Good Standing. Parent Borrower is a Delaware limited liability company duly organized pursuant to its articles of organization or formation filed with 

  

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the Delaware Secretary of State, and is validly existing and in good standing under the laws of Delaware. Parent Borrower (i) has all requisite power to
own its property and conduct its business as now conducted and as presently contemplated, and (ii) is in good standing and is duly authorized to do business in the jurisdictions where the Mortgaged Properties owned or leased by it are located
and in each other jurisdiction where a failure to be so qualified in such other jurisdiction could have a Material Adverse Effect. 
 (b)
Subsidiaries. Each of the Subsidiary Borrowers and each of the Subsidiaries of the Borrowers (i) is a corporation, limited partnership, general partnership, limited liability company or trust duly organized under the laws of its State of
organization and is validly existing and in good standing under the laws thereof, (ii) has all requisite power to own its property and conduct its business as now conducted and as presently contemplated and (iii) is in good standing and is
duly authorized to do business in each jurisdiction where a Mortgaged Property owned or leased by it is located (to the extent required by applicable law) and in each other jurisdiction where a failure to be so qualified could have a Material
Adverse Effect. 
 (c) Authorization. The execution, delivery and performance of this Agreement and the other Loan Documents to which
any of the Borrowers is a party and the transactions contemplated hereby and thereby (i) are within the authority of Borrowers, (ii) have been duly authorized by all necessary proceedings on the part of Borrowers, (iii) do not and
will not conflict with or result in any breach or contravention of any provision of law, statute, rule or regulation to which any Borrower is subject or any judgment, order, writ, injunction, license or permit applicable to any Borrower,
(iv) do not and will not conflict with or constitute a default (whether with the passage of time or the giving of notice, or both) under any provision of the partnership agreement, articles of incorporation or other charter documents or bylaws
of, or any agreement or other instrument binding upon, any Borrower or any of its properties, (v) do not and will not result in or require the imposition of any lien or other encumbrance on any of the properties, assets or rights of any
Borrower other than the liens and encumbrances in favor of Agent contemplated by this Agreement and the other Loan Documents, and (vi) do not require the approval or consent of any Person other than those already obtained and delivered to
Agent. 
 (d) Enforceability. The execution and delivery of this Agreement and the other Loan Documents to which any of the Borrowers
is a party are valid and legally binding obligations of Borrowers enforceable in accordance with the respective terms and provisions hereof and thereof, except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or
other laws relating to or affecting generally the enforcement of creditors’ rights and general principles of equity. 
 §6.2
Governmental Approvals. The execution, delivery and performance of this Agreement and the other Loan Documents to which any Borrower is a party and the transactions contemplated hereby and thereby do not require the approval or consent of, or
filing or registration with, or the giving of any notice to, any court, department, board, governmental agency or authority other than those already obtained and the filing of the Security Documents in the appropriate records office with respect
thereto. 
 §6.3 Title to Properties. Except as indicated on Schedule 6.3 hereto or other adjustments that are not
material in amount, Parent Borrower and its Subsidiaries own or lease 

  

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all of the assets reflected in the consolidated balance sheet of Parent Borrower as of the Balance Sheet Date or acquired or leased since that date (except
property and assets sold or otherwise disposed of in the ordinary course since that date) subject to no rights of others, including any mortgages, leases pursuant to which Parent Borrower or any of its Subsidiaries or any of their Affiliates is the
lessee, conditional sales agreements, title retention agreements, liens or other encumbrances except Permitted Liens. 
 §6.4
Financial Statements. Parent Borrower has furnished to Agent: (a) the consolidated balance sheet of Parent Borrower and its Subsidiaries as of the Balance Sheet Date and the related consolidated statement of income and cash flow for the
calendar year then ended certified by the chief financial or accounting officer of Parent Borrower, (b) as of the Closing Date, an unaudited statement of Net Operating Income for each of the Mortgaged Properties for the period ending
December 31, 2006 reasonably satisfactory in form to the Agent and certified by the chief financial or accounting officer of Parent Borrower as fairly presenting the Net Operating Income for such parcels for such periods, and (c) certain
other financial information relating to the Borrowers and the Real Estate (including, without limitation, the Mortgaged Properties). Such balance sheet and statements have been prepared in accordance with generally accepted accounting principles and
fairly present the consolidated financial condition of Parent Borrower and its Subsidiaries as of such dates and the consolidated results of the operations of Parent Borrower and its Subsidiaries for such periods. There are no liabilities,
contingent or otherwise, of Parent Borrower or any of its Subsidiaries involving material amounts not disclosed in said financial statements and the related notes thereto. 
 §6.5 No Material Changes. Since the Balance Sheet Date or the date of the most recent financial statements delivered pursuant to §7.4,
as applicable, there has occurred no materially adverse change in the financial condition, prospects or business of the Borrowers, and their respective Subsidiaries taken as a whole as shown on or reflected in the consolidated balance sheet of
Parent Borrower as of the Balance Sheet Date, or its consolidated statement of income or cash flows for the calendar year then ended, other than changes in the ordinary course of business that have not and could not reasonably be expected to have a
Material Adverse Effect. As of the date hereof, except as set forth on Schedule 6.5 hereto, there has occurred no materially adverse change in the financial condition, prospects, operations or business activities of any of the Mortgaged
Properties from the condition shown on the statements of income delivered to the Agent pursuant to §6.4 other than changes in the ordinary course of business that have not had any materially adverse effect either individually or in the
aggregate on the business, prospects, operation or financial condition of such Mortgaged Property. 
 §6.6 Franchises, Patents,
Copyrights, Etc. The Borrowers and their respective Subsidiaries possess all franchises, patents, copyrights, trademarks, trade names, service marks, licenses and permits, and rights in respect of the foregoing, adequate for the conduct of their
business substantially as now conducted without known conflict with any rights of others. None of the Mortgaged Properties is owned or operated under or by reference to any registered or protected trademark, trade name, service mark or logo.

 §6.7 Litigation. Except as stated on Schedule 6.7, there are no actions, suits, proceedings or investigations of
any kind pending or to the knowledge of the Borrowers threatened against any Borrower or any of their respective Subsidiaries before any court, 

  

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tribunal, arbitrator, mediator or administrative agency or board which question the validity of this Agreement or any of the other Loan Documents, any action
taken or to be taken pursuant hereto or thereto or any lien, security title or security interest created or intended to be created pursuant hereto or thereto, or which if adversely determined could reasonably be expected to have a Material Adverse
Effect. Except as set forth on Schedule 6.7, there are no judgments, final orders or awards outstanding against or affecting any Borrower, any of their respective Subsidiaries or any Mortgaged Property individually or in the aggregate in
excess of $1,000,000.00. 
 §6.8 No Material Adverse Contracts, Etc. None of the Borrowers or any of their respective
Subsidiaries is subject to any charter, corporate or other legal restriction, or any judgment, decree, order, rule or regulation that has or is expected in the future to have a Material Adverse Effect. None of the Borrowers or any of their
respective Subsidiaries is a party to any contract or agreement that has or could reasonably be expected to have a Material Adverse Effect. 
 §6.9 Compliance with Other Instruments, Laws, Etc. None of the Borrowers or any of their respective Subsidiaries is in violation of any provision of its charter or other organizational documents, bylaws, or any agreement or
instrument to which it is subject or by which it or any of its properties is bound or any decree, order, judgment, statute, license, rule or regulation, in any of the foregoing cases in a manner that has had or could reasonably be expected to have a
Material Adverse Effect. 
 §6.10 Tax Status. Each of the Borrowers and their respective Subsidiaries (a) has made or filed
all federal and state income and all other tax returns, reports and declarations required by any jurisdiction to which it is subject or has obtained an extension for filing, (b) has paid prior to delinquency 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. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers or
partners of such Person know of no basis for any such claim. There are no audits pending or to the knowledge of Borrowers threatened with respect to any tax returns filed by Borrowers or their respective Subsidiaries. The taxpayer identification
number for Parent Borrower is 52-2252846. 
 §6.11 No Event of Default. No Default or Event of Default has occurred and is
continuing. 
 §6.12 Investment Company Act. None of the Borrowers 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. 
 §6.13 Absence of UCC Financing Statements, Etc. Except with respect to Permitted Liens or as disclosed on the lien search reports delivered
to and approved by the Agent, there is no financing statement (but excluding any financing statements that may be filed against any 

  

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Borrower or their respective Subsidiaries without the consent or agreement of such Persons), security agreement, chattel mortgage, real estate mortgage or
other document filed or recorded with any applicable filing records, registry, or other public office, that purports to cover, affect or give notice of any present or possible future lien on, or security interest or security title in, any property
of any Borrower or their respective Subsidiaries or rights thereunder. 
 §6.14 Setoff, Etc. The Collateral and the rights of the
Agent and the Lenders with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses by the Borrowers or any of their Subsidiaries or Affiliates or, to the best knowledge of Borrowers, any other Person other
than Permitted Liens described in §8.2(i)(A), (v) and (vi). 
 §6.15 Certain Transactions. Except as disclosed on
Schedule 6.15 hereto, none of the partners, officers, trustees, managers, members, directors, or employees of any Borrower or any of their respective Subsidiaries is, nor shall any such Person become, a party to any transaction with any
Borrower or any of their respective Subsidiaries or Affiliates (other than for services as partners, managers, members, employees, officers and directors), including any 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 partner, officer, trustee, director or such employee or, to the knowledge of the Borrowers, any corporation, partnership, trust or other
entity in which any partner, officer, trustee, director, or any such employee has a substantial interest or is an officer, director, trustee or partner, which are on terms less favorable to the Borrowers or any of their respective Subsidiaries than
those that would be obtained in a comparable arms-length transaction. 
 §6.16 Employee Benefit Plans. Each Borrower and each
ERISA Affiliate has fulfilled its obligation, if any, under the minimum funding standards of ERISA and the Code with respect to each Employee Benefit Plan, Multiemployer Plan or Guaranteed Pension Plan and is in compliance in all material respects
with the presently applicable provisions of ERISA and the Code with respect to each Employee Benefit Plan, Multiemployer Plan or Guaranteed Pension Plan. Neither any Borrower nor any ERISA Affiliate has (a) sought a waiver of the minimum
funding standard under §412 of the Code in respect of any Employee Benefit Plan, Multiemployer Plan or Guaranteed Pension Plan, (b) failed to make any contribution or payment to any Employee Benefit Plan, Multiemployer Plan or Guaranteed
Pension Plan, or made any amendment to any Employee Benefit Plan, Multiemployer Plan or Guaranteed Pension Plan, which has resulted or could result in the imposition of a Lien or the posting of a bond or other security under ERISA or the Code, or
(c) incurred any liability under Title IV of ERISA other than a liability to the PBGC for premiums under §4007 of ERISA. None of the Mortgaged Properties constitutes a “plan asset” of any Employee Plan, Multiemployer Plan or
Guaranteed Pension Plan. 
 §6.17 Disclosure. All of the representations and warranties made by or on behalf of the Borrowers and
their respective Subsidiaries in this Agreement and 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. All information contained in this Agreement, the other Loan Documents or otherwise furnished to or made available to the Agent or the Lenders by or on behalf of any Borrower is and will be true and correct in all material respects and does
not contain any untrue statement of a material fact or 

  

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omit to state a material fact necessary to make the statements contained therein not misleading. The written information, reports and other papers and data
with respect to the Borrowers, any Subsidiary or the Mortgaged Properties (other than projections and estimates) furnished to the Agent or the Lenders in connection with this Agreement or the obtaining of the Commitments of the Lenders hereunder
was, at the time so furnished, complete and correct in all material respects, or has been subsequently supplemented by other written information, reports or other papers or data, to the extent necessary to give in all material respects a true and
accurate knowledge of the subject matter in all material respects; provided that such representation shall not apply to (a) the accuracy of any appraisal, title commitment, survey, or engineering and environmental reports prepared by
third parties or legal conclusions or analysis provided by the Borrowers’ counsel (although the Borrowers have no reason to believe that the Agent and the Lenders may not rely on the accuracy thereof) or (b) budgets, projections and other
forward-looking speculative information prepared in good faith by the Borrowers (except to the extent the related assumptions were when made manifestly unreasonable). 
 §6.18 Trade Name; Place of Business. No Borrower uses any trade name and conducts business under any name other than its actual name set forth in the Loan Documents. The principal place of business of the
Borrowers is 1212 New York Avenue, N.W., Suite 1200, Washington, DC 20005. 
 §6.19 Regulations T, U and X. No portion of any
Loan is to be used for the purpose of purchasing or carrying any “margin security” or “margin stock” as such terms are used in Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Parts 220,
221 and 224. No Borrower is engaged, nor will it engage, principally or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any “margin security” or “margin stock” as
such terms are used in Regulations T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Parts 220, 221 and 224. 
 §6.20 Environmental Compliance. The Borrowers have taken all commercially reasonable steps to investigate the past and present conditions and usage of the Real Estate and the operations conducted thereon and, except as
specifically set forth in the written environmental site assessment reports of the Environmental Engineer provided to the Agent on or before the date hereof, or in the case of Mortgaged Property acquired after the date hereof, the environmental site
assessment reports with respect thereto provided to the Agent, makes the following representations and warranties except as set forth on Schedules 6.20(c) or (d).: 
 (a) None of the Borrowers, their respective Subsidiaries nor to the best knowledge and belief of Borrowers any operator of the Real Estate, nor any tenant
or 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 any Environmental Law, which
violation (i) involves Real Estate (other than the Mortgaged Properties) and has had or could reasonably be expected to have a Material Adverse Effect or (ii) involves a Mortgaged Property. 
 (b) None of the Borrowers nor any of their respective Subsidiaries has received 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 

  

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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 Hazardous Substance(s) 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 any
Borrower 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 in any case (A) involves Real Estate other than the Mortgaged Properties and has had or could reasonably be expected to have a Material Adverse Effect or (B) involves a Mortgaged Property. 
 (c) (i) No portion of the Real Estate 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 the Real Estate except those which are being operated and maintained in compliance
with Environmental Laws; (ii) in the course of any activities conducted by the Borrowers, their respective Subsidiaries or, to the best knowledge and belief of the Borrowers, the tenants and operators of their properties, no Hazardous
Substances have been generated or are being used on the Real Estate except in the ordinary course of Borrowers’ business and in accordance with applicable Environmental Laws; (iii) there has been no past or present releasing, spilling,
leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, disposing or dumping (other than the storing of materials in reasonable quantities to the extent necessary for the operation of data centers of the type and size of
those owned by Borrowers in the ordinary course of their business, and in any event in compliance with all Environmental Laws) (a “Release”) or threatened Release of Hazardous Substances on, upon, into or from the Mortgaged Properties,
which Release would have a material adverse effect on the value of such Mortgaged Properties or adjacent properties, or from any other Real Estate, which Release has had or could reasonably be expected to have a Material Adverse Effect; (iv) to
the Borrowers’ actual knowledge, there have been no Releases on, upon, from or into any real property in the vicinity of any of the Real Estate which, through soil or groundwater contamination, may have come to be located on, and which could be
reasonably anticipated to have a material adverse effect on the value of, the Real Estate; and (v) any Hazardous Substances that have been generated on any of the Real Estate have been transported off-site in accordance with all applicable
Environmental Laws (except with respect to the foregoing in this §6.20(c) as to any Real Estate (other than the Mortgaged Properties) where the foregoing has not had or could not reasonably be expected to have a Material Adverse Effect).

 (d) Except as set forth on Schedule 6.20(d), none of the Borrowers, their respective Subsidiaries nor the Real Estate 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 in each case by virtue of the transactions set forth herein and contemplated hereby, or as a condition to the recording of the Mortgages or to the effectiveness of any other
transactions contemplated hereby except for such matters that shall be complied with as of the Closing Date. 
  

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 (e) There are no existing or closed sanitary landfills, solid waste disposal sites, or hazardous waste
treatment, storage or disposal facilities on or, to Borrowers’ actual knowledge, affecting the Real Estate except where such existence as to any Real Estate other than a Mortgaged Property has not had or could not be reasonably be expected to
have a Material Adverse Effect. 
 (f) The Borrowers have not received any written notice of any claim by any party that any use, operation,
or condition of the Real Estate has caused any nuisance or any other liability or adverse condition on any other property which as to any Real Estate other than a Mortgaged Property has had or could reasonably be expected to have a Material Adverse
Effect, nor is there any actual knowledge of any basis for such a claim. 
 §6.21 Subsidiaries; Organizational Structure.
Schedule 6.21(a) sets forth, as of the date hereof, all of the Subsidiaries of Parent Borrower, the form and jurisdiction of organization of each of the Subsidiaries, and the owners of the direct and indirect ownership interests therein.
Schedule 6.21(b) sets forth, as of the date hereof, all of the Unconsolidated Affiliates of Parent Borrower and its Subsidiaries, the form and jurisdiction of organization of each of the Unconsolidated Affiliates, Parent Borrower’s
or its Subsidiary’s ownership interest therein and the other owners of the applicable Unconsolidated Affiliate. No Person owns any legal, equitable or beneficial interest in any of the Persons set forth on Schedules 6.21(a) and
6.21(b) except as set forth on such Schedules. Lammot J. du Pont is the sole manager of Panda Interests LLC and Hossein Fateh is the sole manager of Mercer Interests LLC, the Eden Managing Members are the sole managing members of
Managing Member, which is the sole managing member of Parent Borrower, and Lammot J. du Pont and Hossein Fateh own (directly or indirectly) not less than thirty-five percent (35%) of the economic, voting and beneficial interest in Parent
Borrower. 
 §6.22 Leases. The Borrowers have delivered to the Agent true copies of the Leases and any amendments thereto
relating to each Mortgaged Property required to be delivered as a part of the Eligible Real Estate Qualification Documents as of the date hereof. An accurate and complete Rent Roll as of the date of inclusion of each Mortgaged Property in the
Collateral with respect to all Leases of any portion of the Mortgaged Property has been provided to the Agent. The Leases previously delivered to Agent as described in the preceding sentence constitute as of the date thereof the sole agreements
relating to leasing or licensing of space at such Mortgaged Property and in the Building relating thereto. No tenant under any Lease is entitled to any free rent, partial rent, rebate of rent payments, credit, offset or deduction in rent, including,
without limitation, lease support payments or lease buy-outs, except as reflected in such Leases or such Rent Roll. Except as set forth in Schedule 6.22, the Leases reflected therein are, as of the date of inclusion of the applicable
Mortgaged Property in the Collateral, in full force and effect in accordance with their respective terms, without any payment default or any other material default thereunder, nor are there any defenses, counterclaims, offsets, concessions or
rebates available to any tenant thereunder, and except as reflected in Schedule 6.22, no Borrower has given or made, any notice of any payment or other material default, or any claim, which remains uncured or unsatisfied, with respect to any
of the Leases, and to the best of the knowledge and belief of the Borrowers, there is no basis for any such claim or notice of default by any tenant. No property other than the Mortgaged Property which is the subject of the applicable Lease is
necessary to comply with the requirements (including, without limitation, parking requirements) contained in such Lease. 
  

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 §6.23 Property. All of the Mortgaged Properties, and all major building systems located
thereon, are structurally sound, in good condition and working order and free from material defects, subject to ordinary wear and tear, except for such portion of such Real Estate which is not occupied by any tenant and which may not be in final
working order pending final build-out of such space. All of the other Real Estate of the Borrowers and their respective Subsidiaries is structurally sound, in good condition and working order, subject to ordinary wear and tear, except for such
portion of such Real Estate which is not occupied by any tenant and where such defects have not had and could not reasonably be expected to have a Material Adverse Effect. Each of the Mortgaged Properties, and the use and operation thereof, is in
material compliance with all applicable federal and state law and governmental regulations and any local ordinances, orders or regulations, including without limitation, laws, regulations and ordinances relating to zoning, building codes,
subdivision, fire protection, health, safety, handicapped access, historic preservation and protection, wetlands, tidelands, and Environmental Laws. All water, sewer, electric, gas, telephone and other utilities necessary for the use and operation
of the Mortgaged Property are installed to the property lines of the Mortgaged Property through dedicated public rights of way or through perpetual private easements approved by the Agent with respect to which the applicable Mortgage creates a valid
and enforceable first lien and, except in the case of drainage facilities, are connected to the Building located thereon with valid permits and are adequate to service the Building in compliance with applicable law. The streets abutting the
Mortgaged Property are dedicated and accepted public roads, to which the Mortgaged Property has direct access by trucks and other motor vehicles and by foot, or are perpetual private ways (with direct access by trucks and other motor vehicles and by
foot to public roads) to which the Mortgaged Property has direct access approved by the Agent and with respect to which the applicable Mortgage creates a valid and enforceable first lien. All private ways providing access to the Mortgaged Property
are zoned in a manner which will permit access to the Building over such ways by trucks and other commercial and industrial vehicles. There are no unpaid or outstanding real estate or other taxes or assessments on or against any of the Mortgaged
Properties which are payable by any Borrower (except only real estate or other taxes or assessments, that are not yet delinquent or are being protested as permitted by this Agreement). Each Mortgaged Property is separately assessed for purposes of
real estate tax assessment and payment. There are no unpaid or outstanding real estate or other taxes or assessments on or against any other property of the Borrowers or any of their respective Subsidiaries which are payable by any of such Persons
in any material amount (except only real estate or other taxes or assessments, that are not yet delinquent or are being protested as permitted by this Agreement). There are no pending, or to the knowledge of Borrowers threatened or contemplated,
eminent domain proceedings against any of the Mortgaged Properties. None of the Mortgaged Properties is now damaged as a result of any fire, explosion, accident, flood or other casualty. None of the Borrowers has received any outstanding notice from
any insurer or its agent requiring performance of any work with respect to any of the Mortgaged Properties or canceling or threatening to cancel any policy of insurance, and each of the Mortgaged Properties complies with the material requirements of
all of the Borrowers’ insurance carriers. Except as listed on Schedule 6.23, the Borrowers have no Management Agreements for any of the Mortgaged Properties. To the best knowledge of the Borrowers, there are no material claims or
any bases for material claims in respect of any Mortgaged Property or its operation by any party to any 

  

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service agreement or Management Agreement. No person or entity has any right or option to acquire any Mortgaged Property or any Building thereon or any
portion thereof or interest therein, except for certain tenants pursuant to the terms of their Leases with Subsidiary Borrowers. 
 §6.24 Brokers. None of the Borrowers nor any of their respective Subsidiaries has engaged or otherwise dealt with any broker, finder or similar entity in connection with this Agreement or the Loans contemplated hereunder, except
that Parent Borrower has been advised by Property Capital LLC (and any fees payable to Property Capital LLC shall be paid by Parent Borrower). 
 §6.25 Other Debt. None of the Borrowers nor any of their respective Subsidiaries is in default of the payment of any Indebtedness or the performance of any material obligation under any related agreement, mortgage, deed of
trust, security agreement, financing agreement or indenture to which any of them is a party involving Indebtedness individually or in the aggregate in excess of $25,000,000.00. None of the Borrowers is a party to or bound by any agreement,
instrument or indenture that may require the subordination in right or time or payment of any of the Obligations to any other indebtedness or obligation of any Borrower. Schedule 6.25 hereto sets forth all agreements, mortgages, deeds of
trust, financing agreements or other material agreements binding upon the Borrowers or their respective properties and entered into by the Borrowers as of the date of this Agreement with respect to any Indebtedness of the Borrowers in an amount
greater than $1,000,000.00, and the Borrowers have provided the Agent with true, correct and complete copies thereof. 
 §6.26
Solvency. As of the Closing Date and after giving effect to the transactions contemplated by this Agreement and the other Loan Documents, including all Loans made or to be made hereunder, no Borrower is insolvent on a balance sheet basis such
that the sum of such Person’s assets exceeds the sum of such Person’s liabilities, each Borrower is able to pay its debts as they become due, and each Borrower has sufficient capital to carry on its business. 
 §6.27 No Bankruptcy Filing. No Borrower is contemplating either the filing of a petition by it under any state or federal bankruptcy or
insolvency laws or the liquidation of its assets or property, and the Borrowers have no knowledge of any Person contemplating the filing of any such petition against it. 
 §6.28 No Fraudulent Intent. Neither the execution and delivery of this Agreement or any of the other Loan Documents nor the performance of any actions required hereunder or thereunder is being undertaken
by any Borrower or any of their respective Subsidiaries with or as a result of any actual intent by any of such Persons to hinder, delay or defraud any entity to which any of such Persons is now or will hereafter become indebted. 
 §6.29 Transaction in Best Interests of Borrowers; Consideration. The transaction evidenced by this Agreement and the other Loan Documents is
in the best interests of each Borrower, their respective Subsidiaries. The direct and indirect benefits to inure to the Borrowers and their respective Subsidiaries pursuant to this Agreement and the other Loan Documents constitute substantially more
than “reasonably equivalent value” (as such term is used in §548 of the Bankruptcy Code) and “valuable consideration,” “fair value,” and “fair 

  

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consideration,” (as such terms are used in any applicable state fraudulent conveyance law), in exchange for the benefits to be provided by the Borrowers
and their respective Subsidiaries pursuant to this Agreement and the other Loan Documents, and but for the willingness of each Subsidiary Borrower to be a co-borrower of the Loan, the Borrowers would be unable to obtain the financing contemplated
hereunder which financing will enable the Borrowers and their respective Subsidiaries to have available financing to conduct and expand their business. Borrowers further acknowledge and agree that Borrowers constitute a single integrated and common
enterprise and that each receives a benefit from the availability of credit under this Agreement. 
 §6.30 Contribution
Agreement. The Borrowers have executed and delivered the Contribution Agreement, and the Contribution Agreement constitutes the valid and legally binding obligations of such parties enforceable against them in accordance with the terms and
provisions thereof, except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors’ rights and except to the extent that availability of
the remedy of specific performance or injunctive relief is subject to the discretion of the court before which any proceeding therefor may be brought. 
 §6.31 OFAC. None of the Borrowers is (or will be) a person with whom any Lender is restricted from doing business under OFAC (including, those Persons named on OFAC’s Specially Designated and Blocked
Persons list) or under any statute, executive order (including the September 24, 2001 Executive Order Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental
action and is not and shall not engage in any dealings or transactions or otherwise be associated with such persons. In addition, Borrowers hereby agree to provide to the Lenders any additional information that a Lender deems necessary from time to
time in order to ensure compliance with all applicable laws concerning money laundering and similar activities. 
 §6.32 LBHI
Loan. Attached hereto as Schedule 6.32 is a true, accurate and complete list of all of the loan documents evidencing, securing or otherwise relating to the $46,200,000 loan from LBHI to Hossein Fateh and Lammot J. DuPont (the “LBHI
Loan Documents”). Without limiting the foregoing, Borrowers have delivered to the Agent true, correct and complete copies of the LBHI Loan Documents, and none of the LBHI Loan Documents has been modified or amended in any respect except as
shown in Schedule 6.32. As of the date hereof, the outstanding principal balance under the LBHI Loan Documents is $34,615,868.81. No default or event which with the giving of notice or the passage of time or both could become a default
thereunder has occurred. 
 §7. AFFIRMATIVE COVENANTS. 
 The Borrowers covenant and agree that, so long as any Loan, Note or Letter of Credit is outstanding or any Lender has any obligation to make any Loans or issue Letters of Credit: 
 §7.1 Punctual Payment. The Borrowers will duly and punctually pay or cause to be paid the principal and interest on the Loans and all interest
and fees provided for in this Agreement, all in accordance with the terms of this Agreement and the Notes, as well as all other sums owing pursuant to the Loan Documents. 
  

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 §7.2 Maintenance of Office. The Borrowers will maintain their respective chief executive
office at 1212 New York Avenue, N.W., Suite 900, Washington, DC 20005, or at such other place in the United States of America as the Borrowers shall designate upon thirty (30) days prior written notice to the Agent and the Lenders, where
notices, presentations and demands to or upon the Borrowers in respect of the Loan Documents may be given or made. 
 §7.3 Records
and Accounts. The Borrowers will (a) keep, and cause each of their respective 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), depreciation and amortization of its properties and the properties of their respective Subsidiaries, contingencies and other reserves. Neither any Borrower nor
any of their respective Subsidiaries shall, without the prior written consent of the Agent, (x) make any material change to the accounting policies/principles used by such Person in preparing the financial statements and other information
described in §6.4 or §7.4, or (y) change its fiscal year. Agent and the Lenders acknowledge that Parent Borrower’s fiscal year is a calendar year. 
 §7.4 Financial Statements, Certificates and Information. Borrowers will deliver or cause to be delivered to the Agent with sufficient copies for each of the Lenders: 
 (a) within five (5) days of the filing of Parent Borrower’s or REIT’s Form 10-K with the SEC, if applicable, but in any event not later
than one hundred twenty (120) days after the end of each calendar year, the audited Consolidated balance sheet of Parent Borrower and its Subsidiaries at the end of such year, and the related audited consolidated statements of income, changes
in capital and cash flows for such year, setting forth in comparative form the figures for the previous fiscal year and all such statements to be in reasonable detail, prepared in accordance with GAAP, together with a certification by the chief
financial officer or accounting officer of Parent Borrower that the information contained in such financial statements fairly presents the financial position of Parent Borrower and its Subsidiaries, and accompanied by an auditor’s report
prepared without qualification as to the scope of the audit by a nationally recognized accounting firm reasonably approved by Agent, and any other information the Lenders may reasonably request to complete a financial analysis of Parent Borrower and
its Subsidiaries; 
 (b) within five (5) days of the filing of Parent Borrower’s or REIT’s Form 10-Q with the SEC, if
applicable, but in any event not later than sixty (60) days after the end of each calendar quarter of each year, copies of the unaudited consolidated balance sheet of Parent Borrower and its Subsidiaries, as at the end of such quarter, and the
related unaudited consolidated statements of income and cash flows for the portion of Parent Borrower’s fiscal year then elapsed, all in reasonable detail and prepared in accordance with GAAP, together with a certification by the chief
financial officer or accounting officer of Parent Borrower that the information contained in such financial statements fairly presents the financial position of Parent Borrower and its Subsidiaries on the date thereof (subject to year-end
adjustments); 
  

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 (c) simultaneously with the delivery of the financial statements referred to in subsections (a) and
(b) above, a statement (a “Compliance Certificate”) certified by the chief financial officer or chief accounting officer of Parent Borrower in the form of Exhibit J hereto (or in such other form as the Agent may approve
from time to time) setting forth in reasonable detail computations evidencing compliance or non-compliance (as the case may be) with the covenants contained in §9 and the other covenants described in such certificate and (if applicable) setting
forth reconciliations to reflect changes in GAAP since the Balance Sheet Date. Parent Borrower shall submit with the Compliance Certificate a Borrowing Base Certificate in the form of Exhibit I attached hereto pursuant to which the
Parent Borrower shall calculate the amount of the Borrowing Base Availability as of the end of the immediately preceding calendar quarter. All income, expense and value associated with Real Estate or other Investments disposed of during any quarter
will be eliminated from calculations, where applicable. The Compliance Certificate shall be accompanied by copies of the statements of Excess Cash Flow (prior to the occurrence of the Capital Event), Funds from Operations (following the occurrence
of the Capital Event) and Net Operating Income for such calendar quarter for each of the Mortgaged Properties, prepared on a basis consistent with the statements furnished to the Agent prior to the date hereof and otherwise in form and substance
reasonably satisfactory to the Agent, together with a certification by the chief financial officer or chief accounting officer of Parent Borrower that the information contained in such statement fairly presents the Excess Cash Flow (prior to the
occurrence of the Capital Event), Funds from Operations (following the occurrence of the Capital Event) and Net Operating Income of the Mortgaged Properties for such periods; 
 (d) simultaneously with the delivery of the financial statements referred to in clause (a) above, the statement of all contingent liabilities
involving amounts of $1,000,000.00 or more of the Borrowers and their Subsidiaries which are not reflected in such financial statements or referred to in the notes thereto (including, without limitation, all guaranties, endorsements and other
contingent obligations in respect of the indebtedness of others, and obligations to reimburse the issuer in respect of any letters of credit); 
 (e) simultaneously with the delivery of the financial statements referred to in subsections (a) and (b) above, (i) a Rent Roll for each of the Mortgaged Properties and a summary thereof in form satisfactory to Agent as of the
end of each calendar quarter (including the fourth calendar quarter in each year), together with a listing of each tenant that has taken occupancy of such Mortgaged Property during each calendar quarter (including the fourth calendar quarter in each
year), (ii) an operating statement for each of the Mortgaged Properties for each such calendar quarter and year to date and a consolidated operating statement for the Mortgaged Properties for each such calendar quarter and year to date (such
statements and reports to be in form reasonably satisfactory to Agent), and (iii) a copy of each Lease or amendment to any Lease entered into with respect to a Mortgaged Property during such calendar quarter (including the fourth calendar
quarter in each year); 
 (f) simultaneously with the delivery of the financial statements referred to in subsections (a) and
(b) above, a statement (i) listing the Real Estate owned by the Borrowers and their Subsidiaries (or in which the Borrowers or their Subsidiaries owns an interest) and stating the location thereof, the date acquired and the acquisition
cost, (ii) listing the Indebtedness of the Borrowers and their Subsidiaries (excluding Indebtedness of the type described in §8.1(b)-(e)), 

  

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which statement shall include, without limitation, a statement of the original principal amount of such Indebtedness and the current amount outstanding, the
holder thereof, the maturity date and any extension options, the interest rate, the collateral provided for such Indebtedness and whether such Indebtedness is recourse or non-recourse, and (iii) listing the properties of the Borrowers and their
Subsidiaries which are Development Properties and providing a brief summary of the status of such development; 
 (g) contemporaneously with
the filing or mailing thereof, copies of all material of a financial nature, reports or proxy statements sent to the owners of Parent Borrower or REIT; 
 (h) promptly after they are filed with the Internal Revenue Service, copies of all annual federal income tax returns and amendments thereto of the Borrowers; 
 (i) promptly upon the filing hereof, copies of any registration statements (other than the exhibits thereto and any registration statements on Form S-8
or its equivalent) and any annual, quarterly or monthly reports and other statements and reports which Parent Borrower or REIT shall file with the SEC; 
 (j) evidence reasonably satisfactory to Agent of the timely payment of all real estate taxes for the Mortgaged Properties; 
 (k) not later than January 31 of each year, a budget and business plan for the Borrowers and their Subsidiaries for the next calendar year; and 
 (l) from time to time such other financial data and information in the possession of the Borrowers or their respective Subsidiaries (including without
limitation auditors’ management letters, status of litigation or investigations against the Borrowers and any settlement discussions relating thereto, property inspection and environmental reports and information as to zoning and other legal
and regulatory changes affecting the Borrowers) as the Agent may reasonably request. 
 Any material to be delivered pursuant to this §7.4 may be
delivered electronically directly to Agent and the Lenders provided that such material is in a format reasonably acceptable to Agent, and such material shall be deemed to have been delivered to Agent and the Lenders upon Agent’s receipt
thereof. Upon the request of Agent, Borrowers shall deliver paper copies thereof to Agent and the Lenders. Borrowers authorize Agent and Arranger to disseminate any such materials through the use of Intralinks, SyndTrak or any other electronic
information dissemination system, and the Borrowers release Agent and the Lenders from any liability in connection therewith. 
 §7.5
Notices. 
 (a) Defaults. The Borrowers will promptly upon becoming aware of same notify the Agent in writing of the occurrence
of any Default or Event of Default, which notice shall describe such occurrence with reasonable specificity and shall state that such notice is a “notice of default”. If any Person shall give any notice or take any other action in respect
of a claimed default (whether or not constituting an Event of Default) under this Agreement or under 

  

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any note, evidence of indebtedness, indenture or other obligation to which or with respect to which any Borrower or any of their respective Subsidiaries is a
party or obligor, whether as principal or surety, and such default would permit the holder of such note or obligation or other evidence of indebtedness to accelerate the maturity thereof, which acceleration would either cause a Default or have a
Material Adverse Effect, the Borrowers 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 default. 
 (b) Environmental Events. The Borrowers will give notice to the Agent within five (5) Business Days of becoming aware of (i) any
potential or known Release, or threat of Release, of any Hazardous Substances in violation of any applicable Environmental Law; (ii) any violation of any Environmental Law that any Borrower or any of their respective Subsidiaries reports in
writing or is reportable by such Person in writing (or for which any written report supplemental to any oral report is made) to any federal, state or local environmental agency or (iii) any inquiry, proceeding, investigation, or other action,
including a notice from any agency of potential environmental liability, of any federal, state or local environmental agency or board, that in any case involves (A) any Mortgaged Property, (B) any other Real Estate and could reasonably be
expected to have a Material Adverse Effect, or (C) or the Agent’s liens or security title on the Collateral pursuant to the Security Documents. 
 (c) Notification of Claims Against Collateral. The Borrowers will give notice to the Agent in writing within five (5) Business Days of becoming aware of any material setoff, claims (including, with respect
to the Mortgaged Property, environmental claims), withholdings or other defenses to which any of the Collateral, or the rights of the Agent or the Lenders with respect to the Collateral, are subject. 
 (d) Notice of Litigation and Judgments. The Borrowers will give notice to the Agent in writing within five (5) Business Days of becoming
aware of any litigation or proceedings threatened in writing or any pending litigation and proceedings affecting any Borrower or any of their respective Subsidiaries or to which any Borrower or any of their respective Subsidiaries is or is to become
a party involving an uninsured claim against any Borrower or any of their respective Subsidiaries that could either cause a Default or could reasonably be expected to have a Material Adverse Effect and stating the nature and status of such
litigation or proceedings. The Borrowers will give notice to the Agent, in writing, in form and detail reasonably satisfactory to the Agent and each of the Lenders, within ten (10) days of any judgment not covered by insurance, whether final or
otherwise, against any Borrower or any of their respective Subsidiaries in an amount in excess of $1,000,000.00. 
 (e) Notice of Proposed
Sales, Encumbrances, Refinance or Transfer of Non-Mortgaged Property. The Borrowers will give notice to the Agent of any completed sale, encumbrance, refinance or transfer of any Real Estate (other than the Mortgaged Properties) of the Borrowers
or their respective Subsidiaries within any calendar quarter, such notice to be submitted together with the Compliance Certificate provided or required to be provided to the Agent and the Lenders under §7.4 with respect to such calendar
quarter. The Compliance Certificate shall with respect to any completed sale, encumbrance, refinance or transfer be adjusted in the best good faith estimate of Borrowers to give effect to such sale, encumbrance, refinance or transfer and demonstrate
that no Default or Event of Default with respect to the covenants referred to therein shall exist after giving effect to such sale, encumbrance, refinance or transfer. 
  

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 (f) ERISA. The Borrowers will give notice to the Agent within ten (10) Business Days after
the Borrowers or any ERISA Affiliate (i) gives or is required to give notice to the PBGC of any “reportable event” (as defined in §4043 of ERISA) with respect to any Guaranteed Pension Plan, Multiemployer Plan or Employee Benefit
Plan, or knows that the plan administrator of any such plan has given or is required to give notice of any such reportable event; (ii) gives a copy of any notice of complete or partial withdrawal liability under Title IV of ERISA; or
(iii) receives any notice from the PBGC under Title IV or ERISA of an intent to terminate or appoint a trustee to administer any such plan. 
 (g) Notification of Lenders. Within five (5) Business Days after receiving any notice under this §7.5, the Agent will forward a copy thereof to each of the Lenders, together with copies of any certificates or other written
information that accompanied such notice. 
 §7.6 Existence; Maintenance of Properties. 
 (a) The Borrowers will and will cause each of their respective Subsidiaries to preserve and keep in full force and effect their legal existence in the
jurisdiction of its incorporation or formation. The Borrowers will preserve and keep in full force all of their rights and franchises and those of their Subsidiaries, the preservation of which is necessary to the conduct of their business. From and
after the time that REIT elects to be treated as a real estate investment trust under the Code (which date shall be no later than the occurrence of the Capital Event), Borrowers shall cause REIT to at all times comply with all requirements and
applicable laws and regulations necessary to maintain REIT Status and shall continue to receive REIT Status. From and after the Capital Event, if the Capital Event includes the public sale of securities in REIT, Borrowers shall cause the common
stock of REIT to at all times be listed for trading and be traded on the New York Stock Exchange or another national exchange approved by Agent, unless otherwise consented to by the Required Lenders. Parent Borrower shall continue to own directly or
indirectly one hundred percent (100%) of the Subsidiary Borrowers (except that after the occurrence of the Capital Event, REIT may own up to 1% of Safari Ventures LLC). 
 (b) Each Borrower (i) will 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 (ordinary wear and tear excepted) and supplied with all necessary equipment, and (ii) will cause to be made all necessary repairs, renewals, replacements,
betterments and improvements thereof in all cases in which the failure so to do would have a material adverse effect on the condition of any Mortgaged Property or would cause a Material Adverse Effect. Without limitation of the obligations of the
Borrowers under this Agreement with respect to the maintenance of the Mortgaged Properties, the Borrowers shall promptly and diligently comply with the recommendations of the Environmental Engineer concerning the maintenance, operation or upkeep of
the Mortgaged Properties contained in the building inspection and environmental reports delivered to the Agent or otherwise obtained by Borrowers with respect to the Mortgaged Property. 
  

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 §7.7 Insurance; Condemnation. 
 (a) The Borrowers will, at their expense, procure and maintain for the benefit of the Borrowers and the Agent, insurance policies issued by such insurance
companies, in such amounts, in such form and substance, and with such coverages, endorsements, deductibles and expiration dates as are acceptable to the Agent, providing the following types of insurance covering each Mortgaged Property: 

(i) “All Risks” property insurance (including broad form earthquake (if the Mortgaged Property is in a high earthquake hazard area as
reasonably determined by Agent), coverage from loss or damage arising from acts of terrorism (with such coverage satisfactory to Agent), and comprehensive boiler and machinery coverages) on each Building and the contents therein of the Borrowers and
their Subsidiaries in an amount not less than one hundred percent (100%) of the full replacement cost of each Building and the contents therein of the Borrowers and their Subsidiaries or such other amount as the Agent may approve, with
deductibles not to exceed $10,000.00 (or $50,000.00 with respect to earthquake) for any one occurrence, with a replacement cost coverage endorsement, an agreed amount endorsement, and, if requested by the Agent, a contingent liability from operation
of building laws endorsement in such amounts as the Agent may require. Full replacement cost as used herein means the cost of replacing the Building (exclusive of the cost of excavations, foundations and footings below the lowest basement floor) and
the contents therein of the Borrowers and their Subsidiaries without deduction for physical depreciation thereof; 
 (ii) During the course
of construction or repair of any Building, the insurance required by clause (i) above shall be written on a builders risk, completed value, non-reporting form, meeting all of the terms required by clause (i) above, covering the total value
of work performed, materials, equipment, machinery and supplies furnished, existing structures, and temporary structures being erected on or near the Mortgaged Property, including coverage against collapse and damage during transit or while being
stored off-site, and containing a soft costs (including loss of rents) coverage endorsement and a permission to occupy endorsement; 
 (iii)
Flood insurance if at any time any Building is located in any federally designated “special hazard area” (including any area having special flood, mudslide and/or flood-related erosion hazards, and shown on a Flood Hazard Boundary Map or a
Flood Insurance Rate Map published by the Federal Emergency Management Agency as Zone A, AO, Al-30, AE, A99, AH, VO, V1-30, VE, V, M or E) and the broad form flood coverage required by clause (i) above is not available, in an amount equal to
the full replacement cost or the maximum amount then available under the National Flood Insurance Program; 
 (iv) Rent loss insurance in an
amount sufficient to recover at least the total estimated gross receipts from all sources of income, including without limitation, rental income, for the Mortgaged Property for a twelve (12) month period; 
 (v) Commercial general liability insurance against claims for personal injury (to include, without limitation, bodily injury and personal and
advertising injury) and property damage liability, all on an occurrence basis, if commercially available, with such coverages as the Agent may reasonably request (including, without limitation, contractual 

  

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liability coverage, completed operations coverage for a period of two (2) years following completion of construction of any improvements on the
Mortgaged Property, and coverages equivalent to an ISO broad form endorsement), with a general aggregate limit of not less than $2,000,000.00, a completed operations aggregate limit of not less than $2,000,000.00, and a combined single “per
occurrence” limit of not less than $1,000,000.00 for bodily injury, property damage and medical payments; 
 (vi) During the course of
construction or repair of any improvements on the Mortgaged Property, owner’s contingent or protective liability insurance covering claims not covered by or under the terms or provisions of the insurance required by clause (v) above;

 (vii) Employer’s liability insurance with respect to the Borrowers’ employees (or if the Borrowers have no employees, with
respect to the employees of the managers under the Management Agreements); 
 (viii) Umbrella liability insurance with limits of not less
than $10,000,000.00 to be in excess of the limits of the insurance required by clauses (v), (vi) and (vii) above, with coverage at least as broad as the primary coverages of the insurance required by clauses (v), (vi) and
(vii) above, with any excess liability insurance to be at least as broad as the coverages of the lead umbrella policy. All such policies shall be endorsed to provide defense coverage obligations; 
 (ix) Workers’ compensation insurance for all employees of the Borrowers or their Subsidiaries engaged on or with respect to the Mortgaged Property
with limits as required by applicable law (or if Borrowers have no employees, for all employees of the managers under the Management Agreements); and 
 (x) Such other insurance in such form and in such amounts as may from time to time be reasonably required by the Agent against other insurable hazards and casualties which at the time are commonly insured against in
the case of properties of similar character and location to the Mortgaged Property. 
 The Borrowers shall pay all premiums on insurance
policies. The insurance policies with respect to all Mortgaged Property provided for in clauses (v), (vi) and (viii) above shall name the Agent and each Lender as an additional insured and shall contain a cross liability/severability
endorsement. The insurance policies provided for in clauses (i), (ii), (iii) and (iv) above shall name the Agent as mortgagee and loss payee, shall be first payable in case of loss to the Agent, and shall contain mortgage clauses and
lender’s loss payable endorsements in form and substance acceptable to the Agent. The Borrowers shall deliver duplicate originals or certified copies of all such policies to the Agent, and the Borrowers shall promptly furnish to the Agent all
renewal notices and evidence that all premiums or portions thereof then due and payable have been paid. At least thirty (30) days prior to the expiration date of the policies, the Borrowers shall deliver to the Agent evidence of continued
coverage, including a certificate of insurance, as may be satisfactory to the Agent; provided, however, if Borrowers are continuing insurance renewal negotiations at such date, then Borrowers shall inform Agent in writing of the status of such
insurance renewal negotiations and any anticipated or potential material changes in coverages, deductibles or limits at least thirty (30) days prior to the expiration date of such policies, and shall in any event provide evidence of extension,
renewal or replacement prior to the expiration date of the current policies. 
  

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 (b) All policies of insurance required by this Agreement shall contain clauses or endorsements to the
effect that (i) no act or omission of the Borrowers or any Subsidiary or anyone acting for the Borrowers or any Subsidiary (including, without limitation, any representations made in the procurement of such insurance), which might otherwise
result in a forfeiture of such insurance or any part thereof, no occupancy or use of the Mortgaged Property for purposes more hazardous then permitted by the terms of the policy, and no foreclosure or any other change in title to the Mortgaged
Property or any part thereof, shall affect the validity or enforceability of such insurance insofar as the Agent is concerned, (ii) the insurer waives any right of set off, counterclaim, subrogation, or any deduction in respect of any liability
of the Borrowers or any Subsidiary and the Agent, (iii) such insurance is primary and without right of contribution from any other insurance which may be available, (iv) such policies shall not be modified, canceled or terminated prior to
the scheduled expiration date thereof without the insurer thereunder giving at least thirty (30) days prior written notice to the Agent by certified or registered mail, and (v) that the Agent or the Lenders shall not be liable for any
premiums thereon or subject to any assessments thereunder, and shall in all events be in amounts sufficient to avoid any coinsurance liability. 
 (c) The insurance required by this Agreement may be effected through a blanket policy or policies covering additional locations and property of the Borrowers and other Persons not included in the Mortgage Property, provided that such
blanket policy or policies comply with all of the terms and provisions of this §7.7 and contain endorsements or clauses assuring that any claim recovery will not be less than that which a separate policy would provide, including, without
limitation, a priority claim provision with respect to property insurance and an aggregate limits of insurance endorsement in the case of liability insurance. 
 (d) All policies of insurance required by this Agreement shall be issued by companies licensed to do business in the State where the policy is issued and also in the States where the Mortgaged Property is located and
having a rating in Best’s Key Rating Guide of at least “A” and a financial size category of at least “X.” 
 (e)
Neither any Borrower nor any Subsidiary shall carry separate insurance, concurrent in kind or form or contributing in the event of loss, with any insurance required under this Agreement unless such insurance complies with the terms and provisions of
this §7.7. 
 (f) In the event of any loss or damage to the Mortgaged Property, the Borrowers shall give prompt written notice to the
insurance carrier and the Agent. Each Borrower hereby irrevocably authorizes and empowers the Agent, at the Agent’s option and in the Agent’s sole discretion or at the request of the Required Lenders in their sole discretion, as its
attorney in fact, to make proof of such loss, to adjust and compromise any claim under insurance policies, to appear in and prosecute any action arising from such insurance policies, to collect and receive Insurance Proceeds and Condemnation
Proceeds, and to deduct therefrom the Agent’s reasonable expenses incurred in the collection of such Insurance Proceeds; provided, however, that so long as no Default or Event of Default has occurred and is continuing and so long
as the applicable Borrower shall in good faith diligently pursue such claim, the applicable 

  

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Borrower may make proof of loss and appear in any proceedings or negotiations with respect to the adjustment of such claim, except that the applicable
Borrower may not settle, adjust or compromise any such claim without the prior written consent of the Agent, which consent shall not be unreasonably withheld or delayed; provided, further, that the applicable Borrower may make proof of
loss and adjust and compromise any claim under casualty insurance policies which is in an amount less than $1,000,000.00 so long as no Default or Event of Default has occurred and is continuing and so long as the applicable Borrower shall in good
faith diligently pursue such claim. The Borrowers further authorize the Agent, at the Agent’s option, to (i) apply the balance of such Insurance Proceeds and Condemnation Proceeds to the payment of the Obligations whether or not then due,
or (ii) if the Agent shall require the reconstruction or repair of the Mortgaged Property, to hold the balance of such proceeds as trustee to be used to pay taxes, charges, sewer use fees, water rates and assessments which may be imposed on the
Mortgaged Property and the Obligations as they become due during the course of reconstruction or repair of the Mortgaged Property and to reimburse the Borrowers, in accordance with such terms and conditions as the Agent may prescribe, for the costs
of reconstruction or repair of the Mortgaged Property, and upon completion of such reconstruction or repair to apply any excess to the payment of the Obligations. 
 (g) Notwithstanding the foregoing or anything to the contrary contained in the Mortgages, the Agent shall make net Insurance Proceeds and Condemnation Proceeds available to the Borrowers to reconstruct and repair the
Mortgaged Property, in accordance with such terms and conditions as the Agent may prescribe in the Agent’s discretion for the disbursement of the proceeds, provided that (i) the cost of such reconstruction or repair is not estimated
by the Agent to exceed twenty-five percent (25%) of the replacement cost of the damaged Building (as reasonably estimated by the Agent), (ii) no Default or Event of Default shall have occurred and be continuing, (iii) the Borrowers
shall have provided to the Agent additional cash security in an amount equal to the amount reasonably estimated by the Agent to be the amount in excess of such proceeds which will be required to complete such repair or restoration, (iv) the
Agent shall have approved the plans and specifications, construction budget, construction contracts, and construction schedule for such repair or restoration and reasonably determined that the repaired or restored Mortgaged Property will provide the
Agent with adequate security for the Obligations (provided that the Agent shall not disapprove such plans and specifications if the Building is to be restored to substantially its condition immediately prior to such damage), (v) the
Borrowers shall have delivered to the Agent written agreements binding upon not less than seventy-five percent (75%) of the tenants or other parties having present or future rights to possession of any portion of the affected Mortgaged Property
or having any right to require repair, restoration or completion of the Mortgaged Property or any portion thereof (determined by reference to those tenants in the aggregate occupying or having rights to occupy not less than seventy-five percent
(75%) of the Net Rentable Area of the Building so damaged), agreeing upon a date for delivery of possession of the Mortgaged Property or their respective portions thereof, to permit time which is sufficient in the judgment of the Agent for such
repair or restoration and approving the plans and specifications for such repair or restoration, or other evidence satisfactory to the Agent that none of such tenants or other parties may terminate their Leases as a result of such casualty or as a
result of having a right to approve the plans and specifications for such repair or restoration, (vi) the Agent shall reasonably determine that such repair or reconstruction can be completed prior to the Revolving Credit Maturity Date,
(vii) the Agent shall receive evidence reasonably satisfactory to it that any such restoration, repair or rebuilding complies in all respects 

  

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with any and all applicable state, federal and local laws, ordinances and regulations, including without limitation, zoning laws, ordinances and regulations,
and that all required permits, licenses and approvals relative thereto have been or will be issued in a manner so as not to materially impede the progress of restoration, (viii) the Agent shall receive evidence reasonably satisfactory to it
that the insurer under such policies of fire or other casualty insurance does not assert any defense to payment under such policies against any Borrower or the Agent, and (ix) with respect to any Taking, Agent shall determine that following
such repair or restoration there shall be no more than the lesser of (i) a twenty-five percent (25%) reduction in occupancy or rental income from the Mortgaged Property so affected by such specific condemnation or taking (excluding any
proceeds from rental loss insurance or proceeds from such award allocable to rent) or (ii) a fifteen percent (15%) reduction in occupancy or in rental income from all of the Mortgaged Properties (excluding any proceeds from rental loss
insurance or proceeds of such award allocable to rent), after giving effect to the current condemnation or taking and any previous condemnations or takings which may have occurred. Any excess Insurance Proceeds shall be paid to the Borrowers, or if
an Event of Default has occurred and is continuing, such proceeds shall be applied to the payment of the Obligations, unless in either case by the terms of the applicable insurance policy the excess proceeds are required to be returned to such
insurer. Any excess Condemnation Proceeds shall be applied to the payment of the Obligations. In no event shall the provisions of this section be construed to extend the Revolving Credit Maturity Date or Term Loan Maturity Date or to limit in any
way any right or remedy of the Agent upon the occurrence of an Event of Default hereunder. If the Mortgaged Property is sold or the Mortgaged Property is acquired by the Agent, all right, title and interest of the Borrowers in and to any insurance
policies and unearned premiums thereon and in and to the proceeds thereof resulting from loss or damage to the Mortgaged Property prior to the sale or acquisition shall pass to the Agent or any other successor in interest to the Borrowers or
purchaser of the Mortgaged Property. 
 (h) The Borrowers and their respective Subsidiaries (as applicable) will, at their expense, procure
and maintain insurance covering the Borrowers and their respective Subsidiaries (as applicable) and the Real Estate other than the Mortgaged Property in such amounts and against such risks and casualties as are customary for properties of similar
character and location, due regard being given to the type of improvements thereon, their construction, location, use and occupancy. 
 §7.8 Taxes; Liens. The Borrowers will, and will cause their respective Subsidiaries to, duly pay and discharge, or cause to be paid and discharged, before the same shall become delinquent, all taxes, assessments and other
governmental charges imposed upon them or upon the Mortgaged Properties or the other Real Estate, 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 its property or other Liens affecting any of the Collateral or other property of Borrowers or their respective Subsidiaries, provided that any such tax, assessment, charge or levy or
claim need not be paid if the validity or amount thereof shall currently be contested in good faith by appropriate proceedings which shall suspend the collection thereof with respect to such property, neither such property nor any portion thereof or
interest therein would be in any danger of sale, forfeiture or loss by reason of such proceeding and such Borrower or any such Subsidiary shall have set aside on its books adequate reserves in accordance with GAAP; and provided,
further, that forthwith upon the commencement of 

  

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proceedings to foreclose any lien that may have attached as security therefor, such Borrower or any such Subsidiary either (i) will provide a bond
issued by a surety reasonably acceptable to the Agent and sufficient to stay all such proceedings or (ii) if no such bond is provided, will pay each such tax, assessment, charge or levy. 
 §7.9 Inspection of Properties and Books. The Borrowers will, and will cause their respective Subsidiaries to, permit the Agent and the
Lenders, at the Borrowers’ expense and upon reasonable prior notice, to visit and inspect any of the properties of the Borrowers or any of their respective Subsidiaries (subject to the rights of tenants under their Leases), to examine the books
of account of the Borrowers and their respective Subsidiaries (and to make copies thereof and extracts therefrom) and to discuss the affairs, finances and accounts of the Borrowers and their respective Subsidiaries with, and to be advised as to the
same by, their respective officers, partners or members, all at such reasonable times and intervals as the Agent or any Lender may reasonably request, provided that so long as no Default or Event of Default shall have occurred and be
continuing, the Borrowers shall not be required to pay for such visits and inspections more often than once in any twelve (12) month period. The Lenders shall use good faith efforts to coordinate such visits and inspections so as to minimize
the interference with and disruption to the normal business operations of the Borrowers and their respective Subsidiaries. 
 §7.10
Compliance with Laws, Contracts, Licenses, and Permits. The Borrowers will, and will cause each of their respective Subsidiaries to, comply in all respects with (i) all applicable laws and regulations now or hereafter in effect wherever
its business is conducted, including all Environmental Laws, (ii) the provisions of its corporate charter, partnership agreement, limited liability company agreement or declaration of trust, as the case may be, and other charter documents and
bylaws, (iii) all agreements and instruments to which it is a party or by which it or any of its properties may be bound, (iv) all applicable decrees, orders, and judgments, and (v) all licenses and permits required by applicable laws
and regulations for the conduct of its business or the ownership, use or operation of its properties, except where a failure to so comply with any of clauses (i) through (v) could not reasonably be expected to have a Material Adverse
Effect. If any authorization, consent, approval, permit or license from any officer, agency or instrumentality of any government shall become necessary or required in order that the Borrowers or their respective Subsidiaries may fulfill any of its
obligations hereunder, the Borrowers or such Subsidiary will immediately take or cause to be taken all steps necessary to obtain such authorization, consent, approval, permit or license and furnish the Agent and the Lenders with evidence thereof.
Borrowers shall develop and implement such programs, policies and procedures as are necessary to comply with the Patriot Act and shall promptly advise Agent in writing in the event that Borrowers shall determine that any investors in Borrowers are
in violation of such act. 
 §7.11 Further Assurances. The Borrowers will and will cause each of their respective Subsidiaries
to, 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. 
 §7.12 Management. The Borrowers shall not enter into any Management Agreement with a third party manager for
the Mortgaged Property without the prior written consent of the Agent (which shall not be unreasonably withheld), and after such approval, no such Management 

  

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Agreement shall be modified in any material respect or terminated without Agent’s prior written approval, such approval not to be unreasonably withheld.
Agent may condition any approval of a new manager upon the execution and delivery to Agent of collateral assignment of such Management Agreement to Agent and a subordination of the manager’s rights thereunder to the rights of the Agent and the
Lenders under the Loan Documents. The Management Agreements described on Schedule 7.12 hereto relating to the initial Mortgaged Properties are approved by Agent. In connection with the occurrence of the Capital Event, the Management
Agreements described on Schedule 7.12 may be assigned by DFD Technical Services LLC to a Subsidiary of Parent Borrower, provided that (a) Agent shall approve the terms of the Management Agreement, such approval not to be unreasonably
withheld, (b) such replacement manager shall execute and deliver to Agent a subordination of the manager’s rights thereunder to the rights of the Agent and the Lenders under the Loan Documents in a form reasonably required by the Agent,
and (c) Agent receives evidence that any separate management agreements between the tenants under the Leases and the existing property manager have also been assigned to such replacement manager and that any other Persons having rights to
consent to such change in the manager shall have consented thereto. 
 §7.13 Leases of the Property. The Borrowers will give
notice to the Agent of any proposed new Lease at any Mortgaged Property for the lease of space therein and shall provide to the Agent a copy of the proposed Lease and any and all agreements or documents related thereto, current financial information
for the proposed tenant and any guarantor of the proposed Lease and such other information as the Agent may reasonably request. No Borrower will lease all or any portion of a Mortgaged Property or amend, supplement or otherwise modify, terminate or
cancel, or accept the surrender of, or consent to the assignment or subletting of, or grant any concessions to or waive the performance of any obligations of any tenant, lessee or licensee under, any now existing or future Lease at any Mortgaged
Property without the prior written consent of the Agent not to be unreasonably withheld, conditioned or delayed; provided, however, that without the prior written approval of Agent, the Borrower may enter into a new Lease for a
Mortgaged Property involving less than 2.6 mega watts of critical power, provided that such Lease is consistent with sound leasing and management practices for similar properties. If a Borrower submits to Agent a written request for approval with
respect to a proposed Lease and Agent fails to approve or disapprove any such action within ten (10) days after Agent receives from such Borrower such request together with a copy of the final version of such proposed Lease, such action shall
be deemed approved, provided that Agent will only be deemed to have given such approval if, and only if, such request includes all of the supporting documentation reasonably necessary for Agent to make a decision regarding such request, as
determined by Agent, and includes the following in all capital, bolded, block letters on the first page thereof: 
 “THE FOLLOWING
REQUEST REQUIRES A RESPONSE 
 WITHIN TEN (10) DAYS OF RECEIPT. FAILURE TO DO SO 
 WILL BE DEEMED AN APPROVAL OF THE REQUEST.” 
 §7.14 Business Operations. The Borrowers and their respective Subsidiaries shall operate their respective businesses in substantially the same manner and in substantially the same fields and lines of business as such business is
now conducted and in compliance with the terms and conditions of this Agreement and the Loan Documents. Borrowers will not, and will not 

  

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permit any Subsidiary to, directly or indirectly, engage in any line of business other than the ownership, operation and development of Data Center
Properties or businesses incidental thereto. 
 §7.15 Registered Servicemark. Without prior written notice to the Agent, none of
the Mortgaged Properties shall be owned or operated by the Borrowers under any registered or protected trademark, tradename, servicemark or logo. In the event any of the Mortgaged Properties shall be owned or operated under any registered or
protected tradename, trademark, servicemark or logo, the applicable Borrower shall enter into an agreement with Agent, in form and substance satisfactory to Agent, granting to Agent, any successful bidder at a foreclosure sale of such Mortgaged
Property and any subsequent transferee the right and/or license to continue operating such Mortgaged Property under such tradename, trademark, servicemark or logo. 
 §7.16 Ownership of Real Estate. Without the prior written consent of Agent, all Real Estate and all interests (whether direct or indirect) of Parent Borrower or REIT in any real estate assets now owned or
leased or acquired or leased after the date hereof shall be owned or leased directly by Parent Borrower or a Wholly Owned Subsidiary of Parent Borrower; provided, however that Parent Borrower shall be permitted to own or lease
interests in Real Estate through non-Wholly Owned Subsidiaries and Unconsolidated Affiliates as permitted by §8.3. 
 §7.17
Distributions of Income to Parent Borrower. Parent Borrower shall cause all of its Subsidiaries that are not Subsidiary Borrowers (subject to the terms of any loan documents under which such Subsidiary is the borrower) to promptly distribute
to Parent Borrower (but not less frequently than once each calendar quarter, unless otherwise approved by the Agent), whether in the form of dividends, distributions or otherwise, all profits, proceeds or other income relating to or arising from its
Subsidiaries’ use, operation, financing, refinancing, sale or other disposition of their respective assets and properties after (a) the payment by each Subsidiary of its debt service, operating expenses, capital improvements and leasing
commissions for such quarter and (b) the establishment of reasonable reserves for the payment of operating expenses not paid on at least a quarterly basis and capital improvements and tenant improvements to be made to such Subsidiary’s
assets and properties approved by such Subsidiary in the course of its business consistent with its past practices. 
 §7.18
Ownership Restrictions. The Borrowers covenant and agree that prior to the occurrence of the Capital Event, Lammot J. Du Pont and Hossein Fateh will at all times own directly or indirectly not less than thirty-five percent (35%) of the
economic, voting and beneficial interests in Parent Borrower, and that (a) after the occurrence of the Capital Event, REIT will at all times and own not less than thirty-three percent (33%) of the economic, voting and beneficial interest
in Parent Borrower and shall be the sole general partner of Parent Borrower. 
 §7.19 Plan Assets. The Borrowers will do, or
cause to be done, all things necessary to ensure that none of the Mortgaged Properties will be deemed to be Plan Assets at any time. 
 §7.20 [Intentionally Omitted.] 
  

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 §7.21 Single Purpose Entity Requirements. The Borrowers hereby represent, warrant and
covenant as follows: 
 (a) Obligation to be a Single Purpose Entity. 
 (i) Each Subsidiary Borrower has been a Single Purpose Entity at all times since its formation and will continue to be a Single Purpose Entity at all
times until the Loans have been paid in full and the Lenders have no further obligations to make advances of the proceeds of the Loans or issue Letters of Credit. 
 (ii) Each SPE Entity has been a Single Purpose Entity at all times since its formation and will continue to be a Single Purpose Entity at all times until the Loans have been paid in full and the Lenders have no
further obligations to make advances of the proceeds of the Loans or issue Letters of Credit. 
 (iii) The “single purpose entity”
provisions included in the organizational documents of the Subsidiary Borrowers and each SPE Entity shall not, without Agent’s prior written consent, be amended, rescinded or otherwise revoked until the Loans have been paid in full and the
Lenders have no obligation to make advances of the proceeds of the Loans or issue Letters of Credit. 
 (iv) Prior to the withdrawal or the
disassociation of any SPE Entity from a Subsidiary Borrower or any other SPE Entity, such Borrower or such SPE Entity shall immediately appoint a new general partner or managing member whose organizational documents are substantially similar to
those of the original SPE Entity (provided that the foregoing shall be construed as a consent to any transfer). 
 (b) Definition of
Single Purpose Entity. 
 (i) Subsidiary Borrower Criteria. With respect to the Subsidiary Borrowers, a “Single Purpose
Entity” means a corporation, limited partnership or limited liability company which, at all times since the date of this Agreement and thereafter: 
 (A) shall not engage in any business or activity, other than with respect to the Subsidiary Borrower, the ownership, operation and maintenance of a Mortgaged Property and activities incidental thereto; 
 (B) shall not acquire or own any assets other than with respect to the Subsidiary Borrower, a Mortgaged Property and such incidental personal property
as may be necessary for the operation of such Mortgaged Property; 
 (C) if such entity is (1) a limited liability company (other than
a single member limited liability company which satisfies the requirements of clause (D) below, in which case satisfaction of the provisions of §7.21(b)(ii) is not required), has had and shall have at least one (1) member that
satisfies the requirements of §7.21(b)(ii) below and such member is its managing member, or (2) a limited partnership, all of its general partners have satisfied and shall satisfy the requirements of §7.21(b)(ii) below; 
  

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 (D) if such entity is a single member limited liability company, (1) such entity shall be formed
and organized under Delaware law and otherwise comply with all other S&P criteria for single member limited liability companies (including, without limitation, the inclusion of a “springing member” and delivery of Delaware single
member limited liability company opinions acceptable in all respects to the Agent); and (2) such entity shall have at least one (1) Independent Director/Manager on its board of directors/managers; 
 (E) if such entity is a corporation, has had and shall have at least one (1) Independent Director on its board of directors; 
 (F) shall preserve its existence as an entity duly organized, validly existing and in good standing (if applicable) under the laws of the jurisdiction
of its formation or organization; 
 (G) shall not merge or consolidate with any other Person; 
 (H) shall not take, any action to dissolve, wind-up, terminate or liquidate in whole or in part; to sell, transfer or otherwise dispose of all or
substantially all of its assets; to change its legal structure; transfer or permit the direct or indirect transfer of any partnership, membership or other equity interests, as applicable; issue additional partnership, membership or other equity
interests, as applicable; or seek to accomplish any of the foregoing; 
 (I) shall not, without the unanimous written consent of all the
Subsidiary Borrower’s partners, members, or shareholders, as applicable, and the written consent of one hundred percent (100%) of the members of the board of directors of the SPE Entity or board of managers in the case of a single member
limited liability company, including without limitation the Independent Director(s)/Manager(s): (1) file or consent to the filing of any petition, either voluntary or involuntary, to take advantage of any applicable insolvency, bankruptcy,
liquidation or reorganization statute; (2) seek or consent to the appointment of a receiver, liquidator or any similar official; or (3) make an assignment for the benefit of creditors; 
 (J) shall not amend or restate its organizational documents if such change would adversely impact the requirements set forth in this §7.21;

 (K) shall not own any subsidiary or make any investment in, any other Person; 
 (L) shall not commingle its assets with the assets of any other Person; 
 (M) shall not, incur any debt, secured or unsecured, direct or contingent (including, without limitation, guaranteeing any obligation), other than the Obligations and Hedge Obligations and customary unsecured trade
payables incurred in the ordinary course of owning and operating the Mortgaged Property; provided the same are not evidenced by a promissory note, do not exceed, in the aggregate, at any time a maximum amount of two percent (2%) of the
outstanding principal amount of the Loan allocable to the Mortgaged Property of such Person and are paid within sixty (60) days of the date incurred; 
  

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 (N) shall maintain its records, books of account, bank accounts, financial statements, accounting
records and other entity documents separate and apart from those of any other Person; 
 (O) shall only enter into any contract or agreement
with any general partner, member, shareholder, principal or Affiliate of the Borrowers, or any general partner, member, principal or Affiliate thereof, upon terms and conditions that are intrinsically fair and substantially similar to those that
would be available on an arms-length basis with third parties; 
 (P) shall not maintain its assets in such a manner that it will be costly
or difficult to segregate, ascertain or identify its individual assets from those of any other Person; 
 (Q) shall not assume or guaranty
the debts of any other Person, hold itself out to be responsible for the debts of another Person, or otherwise pledge its assets for the benefit of any other Person or hold out its credit as being available to satisfy the obligations of any other
Person, in each case other than the other Borrowers; 
 (R) shall not make any loans or advances to any other Person; 
 (S) shall file its own tax returns as required under federal and state law; 
 (T) shall hold itself out to the public as a legal entity separate and distinct from any other Person and conduct its business solely in its own name
and shall correct any known misunderstanding regarding its separate identity; 
 (U) shall maintain adequate capital for the normal
obligations reasonably foreseeable in a business of its size and character and in light of its contemplated business operations; 
 (V)
shall allocate shared expenses (including, without limitation, shared office space) and to use separate stationery, invoices and checks; 
 (W) shall pay (or cause the property manager to pay on behalf of such Borrower from such Borrower’s funds) its own liabilities (including, without limitation, salaries of its own employees) from its own funds; and 
 (X) shall not acquire obligations or securities of its partners, members or shareholders, as applicable. 
 (ii) SPE Entity Criteria. With respect to any SPE Entity, a “Single Purpose Entity” means a corporation or a Delaware single member
limited liability company which, at all times since its formation and thereafter complies in its own right with each of the requirements contained in §7.21(b)(i)(A)-(X) except that: 
 (A) with respect to §7.21(b)(i)(A) the SPE Entity shall not engage in any business or activity other than being the sole managing member or general
partner, as the case may be, of the applicable Subsidiary Borrower and owning its Equity Interest in the applicable Subsidiary Borrower; 
  

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 (B) with respect to §7.21(b)(i)(B), the SPE Entity has not and shall not acquire or own any assets
other than its Equity Interest in the applicable Subsidiary Borrower; and 
 (C) with respect to §7.21(b)(i)(M) the SPE Entity has not
and shall not incur any debt, secured or unsecured, direct or contingent (including, without limitation, guaranteeing any obligation) other than the Obligations and the Hedge Obligations; 
 §7.22 Additional Covenants. 
 (a)
The project commonly known as “ACC4” consisting of approximately 300,000 square feet (exclusive of approximately 40,000 square feet contained in the mezzanine level that houses diesel back-up engine generators) located at 44480 Hastings
Drive, Ashburn, Virginia which consists of a development of a Data Center Property and which is currently owned by Grizzly Ventures LLC, shall be owned 100% directly or indirectly by Parent Borrower upon the occurrence of the Capital Event.

 (b) Except with respect to the project commonly known as “ACC4” as provided above, Parent Borrower, a Subsidiary Borrower or a
Subsidiary of Borrower shall own all assets acquired or developed using proceeds of the Loans. 
 §7.23 REIT Covenants. From and
after the creation of REIT, Borrowers shall cause REIT to comply with the following covenants: 
 (a) REIT will have as its sole business
purpose owning ownership interests of Parent Borrower, performing duties as the general partner of the operating partnership described in §7.24 and making equity investments in such operating partnership, and shall not engage in any business or
activities other than those described in this §7.23(a); 
 (b) REIT shall promptly contribute or otherwise downstream to Parent Borrower
any net assets received by REIT from third parties (including, without limitation, the proceeds from any Equity Offering); 
 (c) REIT will
not make or permit to be made, by voluntary or involuntary means, any transfer or encumbrance of its interest in Parent Borrower, or any dilution of its interest in Parent Borrower; provided, however, that the interests of the REIT in
Parent Borrower may be diluted as a direct result of the acquisition by Parent Borrower or its Subsidiaries of additional Real Estate, either by acquiring title to such Real Estate directly in the name of Parent Borrower or any such Subsidiary or by
acquiring direct or indirect ownership interests in a partnership, corporation or limited liability company that owns directly such Real Estate (subject in all respects to compliance by Parent Borrower and its Subsidiaries with the terms of this
Agreement), the sales price of which is paid in whole or in part by the issuance of additional interests in Parent Borrower so long as the REIT at all times directly owns not less than 

  

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thirty-three percent (33%) of the interests in Parent Borrower and continues to maintain not less than the same control and management rights and powers
in respect of Parent Borrower as existed previously; and 
 (d) the REIT shall not dissolve, liquidate or otherwise wind-up its business,
affairs or assets. 
 §7.24 Creation of Operating Partnership. Schedule 7.24 hereto sets forth a contemplated series of
events to occur from the date of this Agreement up to the occurrence of the Capital Event. Agent and Lenders consent to such series of events, with such changes as the Borrowers deem necessary, provided that simultaneously with the occurrence of the
Capital Event (i) DuPont Fabros Technology LP becomes an “operating partnership” which will own not less than 99% of the interests in Safari Ventures LLC, (ii) REIT shall own the remaining interest in Safari Ventures LLC, and
(iii) REIT shall be the sole general partner of DuPont Fabros Technology LP, and shall further cause such operating partnership to execute such documents as Agent may reasonably require to cause such Person to become the “Parent
Borrower” under this Agreement and shall cause REIT to execute such documents as Agent may reasonably require to cause REIT to be bound by the provisions of this Agreement applicable to REIT. Thereafter Safari Ventures LLC shall be considered a
Subsidiary Borrower (provided that Safari Ventures LLC shall not be required to be a Single Purpose Entity unless it owns a Mortgaged Property). All of the formation and contribution agreements related to such transactions shall be in form and
substance reasonably acceptable to Agent. In connection therewith, the Borrowers and Agent shall enter into such other amendments to the Loan Documents as Agent may reasonably require to reflect such assumption of liabilities and substitution.

 §7.25 Satisfaction of Indebtedness under LBHI Loan Documents. Simultaneously with the occurrence of the Capital Event,
Borrowers shall cause the Indebtedness under the LBHI Loan Documents to be satisfied in full and the LBHI Loan Documents to be terminated and released, and Borrowers shall deliver to Agent evidence reasonably satisfactory to Agent of such
satisfaction, termination and release. 
 §8. NEGATIVE COVENANTS. 
 The Borrowers covenant and agree that, so long as any Loan, Note or Letter of Credit is outstanding or any of the Lenders has any obligation to make any Loans or issue any Letter of Credit: 
 §8.1 Restrictions on Indebtedness. The Borrowers will not, and will not permit their respective Subsidiaries or REIT to, create, incur,
assume, guarantee or be or remain liable, contingently or otherwise, with respect to any Indebtedness other than: 
 (a) Indebtedness to the
Lenders arising under any of the Loan Documents; 
 (b) current liabilities of the Borrowers or their respective Subsidiaries incurred in the
ordinary course of business but not incurred 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; 
  

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 (c) Indebtedness 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 §7.8; 
 (d) Indebtedness in respect of judgments only to the extent, for the period and for an amount not resulting in a Default; 
 (e) endorsements for collection, deposit or negotiation and warranties of products or services, in each case incurred in the ordinary course of business; and 
 (f) subject to the provisions of §9, (i) Secured Debt that is Recourse Indebtedness, provided that the aggregate amount of such
Indebtedness (excluding the Obligations) shall not exceed fifteen percent (15%) of Gross Asset Value, and (ii) Non-Recourse Indebtedness, provided that none of such Persons shall incur any of the Indebtedness described in this
§8.1(f) unless it shall have provided to the Agent prior written notice of the proposed incurrence of such Indebtedness, a statement that the borrowing will not cause a Default or Event of Default and a Compliance Certificate demonstrating that
the Borrowers will be in compliance with its covenants referred to therein after giving effect to the incurrence of such Indebtedness. 
 Notwithstanding anything in this Agreement to the contrary, (i) none of the Borrowers or their respective Subsidiaries shall create, incur, assume, guarantee or be or remain liable contingently or otherwise, with respect to any
Unsecured Indebtedness, (ii) none of the Indebtedness described in §8.1(f) above shall have any of the Mortgaged Properties or any interest therein or any direct or indirect ownership interest in any Subsidiary Borrower as collateral, a
borrowing base, asset pool or any similar form of credit support for such Indebtedness (provided that the foregoing shall not preclude Subsidiaries of the Borrowers (other than a Subsidiary Borrower) to incur Non-Recourse Indebtedness subject to the
terms of this §8.1 or recourse to the general credit of Parent Borrower) and (ii) none of the Subsidiary Borrowers nor REIT shall create, incur, assume, guarantee or be or remain liable, contingently or otherwise, with respect to any
Indebtedness (including, without limitation, pursuant to any conditional or limited guaranty or indemnity agreement creating liability with respect to usual and customary exclusions from the non-recourse limitations governing the Non-Recourse
Indebtedness of any Person, or otherwise) other than Indebtedness described in §§8.1(a)-(e) above. 
 §8.2
Restrictions on Liens, Etc. The Borrowers will not, and will not permit their Subsidiaries or REIT to (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative
pledge, charge, restriction or other security interest of any kind upon any of their respective property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of their
property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) 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; (d) suffer to exist for a period of more than thirty (30) days after the same shall have
been incurred any Indebtedness or claim or demand against any of them that if unpaid could by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever 

  

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over any of their general creditors; (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or
instruments, with or without recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of any of such Persons which prohibits the creation or maintenance of any lien securing the Obligations (collectively,
“Liens”); provided that notwithstanding anything to the contrary contained herein, the Borrowers and any such Subsidiary may create or incur or suffer to be created or incurred or to exist: 
 (i) (A) Liens on properties to secure taxes, assessments and other governmental charges (excluding any Lien imposed pursuant to any of the
provisions of ERISA or pursuant to any Environmental Laws) or claims for labor, material or supplies incurred in the ordinary course of business in respect of obligations not then delinquent or not otherwise required to be paid or discharged under
the terms of this Agreement or any of the other Loan Documents and (B) Liens on assets other than (I) the Collateral and (II) any direct or indirect interest of Parent Borrower or any Subsidiary of Borrower in any other Borrower in
respect of judgments permitted by §8.1(d); 
 (ii) deposits or pledges made in connection with, or to secure payment of, workers’
compensation, unemployment insurance, old age pensions or other social security obligations; 
 (iii) Liens consisting of (A) mortgage
liens on Real Estate (including the rents, issues and profits therefrom), other than Real Estate that constitutes a Mortgaged Property or any interest therein (including the rents, issues and profits therefrom), securing Indebtedness which is
permitted by §8.1(f) or (B) liens consisting of pledges of security interests in the ownership interests of any Subsidiary which is not a Borrower or the direct or indirect owner of an interest in a Borrower securing Indebtedness which is
permitted by §8.1(f); 
 (iv) encumbrances on properties other than the Mortgaged Property consisting of easements, rights of way,
zoning 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 Borrowers or any such Subsidiary is a party, purchase money security
interests and other liens or encumbrances, which do not individually or in the aggregate have a Material Adverse Effect; 
 (v) Liens in
favor of the Agent and the Lenders under the Loan Documents to secure the Obligations and the Hedge Obligations; and 
 (vi) Liens and
encumbrances on a Mortgaged Property expressly permitted under the terms of the Mortgage relating thereto. 
 Notwithstanding anything in
this Agreement to the contrary, (x) no Subsidiary Borrower shall create or incur or suffer to be created or incurred or to exist any Lien other than Liens contemplated in §§8.2(i), (v) and (vi) and (y) REIT shall not
create or suffer to be created or incurred or to exist any Lien other than Liens contemplated in §8.1(i)(A). 
 §8.3
Restrictions on Investments. Neither the Parent Borrower will, nor will it permit any of its Subsidiaries to, make or permit to exist or to remain outstanding any Investment except 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 by Parent
Borrower or its Subsidiary; 
  

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 (b) marketable direct obligations of any of the following: Federal Home Loan Mortgage Corporation,
Student Loan Marketing Association, Federal Home Loan Banks, Federal National Mortgage Association, Government National Mortgage Association, Bank for Cooperatives, Federal Intermediate Credit Banks, Federal Financing Banks, Export-Import Bank of
the United States, Federal Land Banks, or any other agency or instrumentality of the United States of America; 
 (c) demand deposits,
certificates of deposit, bankers acceptances and time deposits of United States banks having total assets in excess of $100,000,000; provided, however, that the aggregate amount at any time so invested with any single bank having total
assets of less than $1,000,000,000 will not exceed $200,000; 
 (d) 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 which at the time of purchase are rated by Moody’s Investors Service, Inc. or by Standard & Poor’s Corporation at not less than “P
1” if then rated by Moody’s Investors Service, Inc., and not less than “A 1”, if then rated by Standard & Poor’s Corporation; 
 (e) mortgage-backed securities guaranteed by the Government National Mortgage Association, the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation and other mortgage-backed bonds which
at the time of purchase are rated by Moody’s Investors Service, Inc. or by Standard & Poor’s Corporation at not less than “Aa” if then rated by Moody’s Investors Service, Inc. and not less than “AA” if
then rated by Standard & Poor’s Corporation; 
 (f) repurchase agreements having a term not greater than ninety (90) days
and fully secured by securities described in the foregoing subsection (a), (b) or (e) with banks described in the foregoing subsection (c) or with financial institutions or other corporations having total assets in excess of
$500,000,000; 
 (g) shares of so-called “money market funds” registered with the SEC under the Investment Company Act of 1940
which maintain a level per-share value, invest principally in investments described in the foregoing subsections (a) through (f) and have total assets in excess of $50,000,000; 
 (h) the acquisition of fee interests or long-term ground lease interests by Parent Borrower or its Subsidiaries in (i) Real Estate which is utilized
for income-producing Data Center Properties located in the continental United States or the District of Columbia and businesses and investments incidental thereto, and (ii) subject to the restrictions set forth in this §8.3, the
acquisition of Land Assets to be developed for the foregoing purposes and Development Properties to be used for the purposes set forth in §8.3(h)(i); 
 (i) Investments by Parent Borrower in Wholly Owned Subsidiaries of Parent Borrower; 
  

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 (j) Investments in Land Assets, provided that the aggregate Investment therein shall not exceed the
greater of (i) ten percent (10%) of Gross Asset Value or (ii) $125,000,000.00; 
 (k) Investments in International
Investments, provided that the aggregate Investment therein shall not exceed the greater of (i) thirty percent (30%) of Gross Asset Value or (ii) $500,000,000.00; 
 (l) Investments in non-wholly owned Subsidiaries and Unconsolidated Affiliates, provided that the aggregate Investment therein shall not exceed ten
percent (10%) of Gross Asset Value; and 
 (m) Investments (i) in equipment which will be incorporated into the development of Data
Center Properties, (ii) with utility companies to bring critical power to Data Center Properties, and (iii) with fiber optic companies to bring fiber optics to Data Center Properties. 
 Notwithstanding the foregoing, (x) in no event shall the aggregate value of the holdings of Parent Borrower and its Subsidiaries in the Investments described in
§8.3(j)-(l) exceed forty percent (40%) of Gross Asset Value at any time and (y) in no event shall Parent Borrower or any of its Subsidiaries have any investments in mortgages or notes receivable. 
 For the purposes of this §8.3, the Investment of Parent Borrower or its Subsidiaries in any non-Wholly Owned Subsidiaries and Unconsolidated
Affiliates will equal (without duplication) the sum of (i) such Person’s pro rata share of their Unconsolidated Affiliate’s Investment in Land Assets; plus (ii) such Person’s pro rata share of any other Investments valued at
the GAAP book value. 
 §8.4 Merger, Consolidation. Borrowers will not, nor will Borrowers permit any of their respective
Subsidiaries or REIT, Managing Member or any Eden Managing Member to, become a party to any dissolution, liquidation, disposition of all or substantially all of its assets or business, merger, reorganization, consolidation or other business
combination or agree to effect any asset acquisition, stock acquisition or other acquisition individually or in a series of transactions which may have a similar effect as any of the foregoing, in each case without the prior written consent of the
Required Lenders except for (i) the merger or consolidation of one or more of the Subsidiaries of Parent Borrower (other than any Subsidiary that is a Subsidiary Borrower) with and into Parent Borrower (it being understood and agreed that in
any such event Parent Borrower will be the surviving Person) and (ii) the merger or consolidation of two or more Subsidiaries of Parent Borrower; provided that no such merger or consolidation shall involve any Subsidiary that is a
Subsidiary Borrower. 
 §8.5 Sale and Leaseback. The Borrowers will not, and will not permit their Subsidiaries, to enter into
any arrangement, directly or indirectly, whereby any Borrower or any such Subsidiary shall sell or transfer any Real Estate owned by it in order that then or thereafter such Borrower or any such Subsidiary shall lease back such Real Estate without
the prior written consent of Agent, such consent not to be unreasonably withheld. 
  

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 §8.6 Compliance with Environmental Laws. None of the Borrowers will, nor will any of them
permit any of its respective Subsidiaries or any other Person to, do any of the following: (a) use any of the Real Estate 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 operating large-scale data centers and in material compliance with all applicable Environmental Laws, (b) cause or permit to be located on any of the Real Estate any underground
tank or other underground storage receptacle for Hazardous Substances except in full compliance with Environmental Laws, (c) generate any Hazardous Substances on any of the Real Estate except in full compliance with Environmental Laws,
(d) conduct any activity at any Real Estate or use any Real Estate in any manner that could reasonably be contemplated to cause a Release of Hazardous Substances on, upon or into the Real Estate or any surrounding properties or any threatened
Release of Hazardous Substances which might give rise to liability under CERCLA or any other Environmental Law, or (e) directly or indirectly transport or arrange for the transport of any Hazardous Substances (except in compliance with all
Environmental Laws), except, with respect to any Real Estate other than a Mortgaged Property where any such use, generation, conduct or other activity has not had and could not reasonably be expected to have a Material Adverse Effect. The Lenders
acknowledge that the existing environmental conditions of the property located in Piscataway, New Jersey, shall not be deemed to violate the provisions of this §8.6 so long as the remediation and monitoring plans currently in place and provided
to Agent are continued. 
 The Borrowers shall, and shall cause their Subsidiaries to: 
 (i) in the event of any change in Environmental Laws governing the assessment, release or removal of Hazardous Substances, take all reasonable action
(including, without limitation, the conducting of engineering tests at the sole expense of the Borrowers) to confirm that no Hazardous Substances are or ever were Released or disposed of on the Mortgaged Properties in violation of applicable
Environmental Laws; and 
 (ii) if any Release or disposal of Hazardous Substances which any Person may be legally obligated to contain,
correct or otherwise remediate or which may otherwise expose it to liability shall occur or shall have occurred on any Mortgaged Property (including without limitation any such Release or disposal occurring prior to the acquisition or leasing of
such Mortgaged Property by the Borrowers or any such Subsidiary), the Borrowers shall, after obtaining knowledge thereof, cause the prompt containment and removal of such Hazardous Substances and remediation of the Mortgaged Property in full
compliance with all applicable Environmental Laws; provided, that each of the Borrowers and their Subsidiaries shall be deemed to be in compliance with Environmental Laws for the purpose of this clause (ii) so long as it or a responsible
third party with sufficient financial resources is taking reasonable action to remediate or manage any event of noncompliance to the satisfaction of the Agent and no action shall have been commenced by any enforcement agency. The Agent may engage
its own Environmental Engineer to review the environmental assessments and the compliance with the covenants contained herein. 
 At any time
after an Event of Default shall have occurred hereunder the Agent may at its election (and will at the request of the Required Lenders) obtain such environmental assessments of any or all of the Mortgaged Properties prepared by an Environmental
Engineer as may be 

  

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necessary or advisable for the purpose of evaluating or confirming (i) whether any Hazardous Substances are present in the soil or water at or adjacent
to any such Mortgaged Property and (ii) whether the use and operation of any such Mortgaged Property complies with all Environmental Laws to the extent required by the Loan Documents. Additionally, at any time that the Agent or the Required
Lenders shall have reasonable and objective grounds to believe that a Release or threatened Release of Hazardous Substances which any Person may be legally obligated to contain, correct or otherwise remediate or which otherwise may expose such
Person to liability may have occurred, relating to any Mortgaged Property, or that any of the Mortgaged Property is not in compliance with Environmental Laws to the extent required by the Loan Documents, Borrowers shall promptly upon the request of
Agent obtain and deliver to Agent such environmental assessments of such Mortgaged Property prepared by an Environmental Engineer as may be necessary or advisable for the purpose of evaluating or confirming (i) whether any Hazardous Substances
are present in the soil or water at or adjacent to such Mortgaged Property and (ii) whether the use and operation of such Mortgaged Property comply with all Environmental Laws to the extent required by the Loan Documents. Environmental
assessments may include detailed visual inspections of such Mortgaged Property including, without limitation, any and all storage areas, storage tanks, drains, dry wells and leaching areas, and the taking of soil samples, as well as such other
investigations or analyses as are reasonably necessary or appropriate for a complete determination of the compliance of such Mortgaged Property and the use and operation thereof with all applicable Environmental Laws. All environmental assessments
contemplated by this §8.6 shall be at the sole cost and expense of the Borrowers. 
 §8.7 Distributions. 
 (a) Prior to the occurrence of the Capital Event, Parent Borrower shall not pay any Distributions to the partners, members or other owners of Parent
Borrower if such Distribution is in excess of Excess Cash Flow for (i) the preceding calendar months from the date of this Agreement or (ii) the preceding twelve (12) months, whichever is less; provided that no such Distributions
shall be made if such amounts are required to be paid hereunder as Additional Principal. 
 (b) (i) Following the occurrence of the
Capital Event, Parent Borrower shall not pay any Distribution to the partners, members or other owners of Parent Borrower, and REIT shall not pay any Distribution to its partners, members or other owners, if such Distribution is in excess of the
amount which (i) when added to the amount of all other Distributions paid in the same calendar quarter and (A) the preceding calendar quarters from the date of this Agreement or (B) the preceding three (3) calendar quarters
(whichever is less), would exceed ninety-five percent (95%) of such Person’s Funds from Operations for such period; provided that the limitations contained in this §8.7(b) shall not preclude the Parent Borrower from making
Distributions in an amount equal to the minimum distributions required under the Code to maintain the REIT Status of REIT (if REIT exists) following the date that REIT elects to be a real estate investment trust under the Code, as evidenced by a
certification of the principal financial or accounting officer of Parent Borrower containing calculations in detail reasonably satisfactory in form and substance to the Agent. 
  

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 (c) In the event that an Event of Default shall have occurred and be continuing, (i) Parent Borrower
shall make no Distributions, and REIT shall not pay any Distribution to its partners, members or other owners, other than, if REIT exists and has elected REIT Status, Distributions in an amount equal to the minimum distributions required under the
Code to maintain the REIT Status of REIT, as evidenced by a certification of the principal financial or accounting officer of Parent Borrower containing calculations in detail reasonably satisfactory in form and substance to the Agent. 

(d) Notwithstanding the foregoing, at any time when an Event of Default under §12.1(a), (b), (h), (i) or (j) shall have occurred or the
maturity of the Obligations has been accelerated, Parent Borrower shall not, and shall not permit REIT to, make any Distributions whatsoever, directly or indirectly. 
 §8.8 Asset Sales. Except for the transactions described on Schedule 7.24 hereto, the Borrowers will not, and will not permit their Subsidiaries to, sell, transfer or otherwise dispose of any
material asset other than pursuant to a bona fide arm’s length transaction. Neither any Borrower nor any Subsidiary thereof shall sell, transfer or otherwise dispose of any Real Estate in one transaction or a series of transactions during any
four (4) consecutive fiscal quarters in excess of an amount equal to thirty-five percent (35%) of Gross Asset Value, except as the result of a condemnation or casualty and except for the granting of Permitted Liens, as applicable, without
the prior written consent of Agent and the Required Lenders. 
 §8.9 [Intentionally Omitted.] 
 §8.10 Restriction on Prepayment of Indebtedness. Parent Borrower will not, and will not permit its Subsidiaries to, (a) prepay, redeem,
defease, purchase or otherwise retire the principal amount, in whole or in part, of any Indebtedness other than the Obligations and the Hedge Obligations after the occurrence of any Event of Default; provided, that the foregoing shall not
prohibit (x) the prepayment of Indebtedness which is financed solely from the proceeds of a new loan which would otherwise be permitted by the terms of §8.1; and (y) the prepayment, redemption, defeasance or other retirement of the
principal of Indebtedness secured by Real Estate which is satisfied solely from the proceeds of a sale of the Real Estate securing such Indebtedness; and (b) modify any document evidencing any Indebtedness (other than the Obligations) to
accelerate the maturity date of such Indebtedness after the occurrence of an Event of Default. 
 §8.11 Zoning and Contract Changes
and Compliance. No Borrower shall initiate or consent to any zoning reclassification of any of its Mortgaged Property or seek any variance under any existing zoning ordinance or use or permit the use of any Mortgaged Property in any manner that
could result in such use becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation. No Borrower shall initiate any change in any laws, requirements of governmental authorities or obligations
created by private contracts and Leases which now or hereafter may materially adversely affect the ownership, occupancy, use or operation of any Mortgaged Property. 
 §8.12 Derivatives Contracts. Neither the Borrowers nor any of their Subsidiaries shall contract, create, incur, assume or suffer to exist any Derivatives Contracts except for Hedge 

  

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Obligations and interest rate swap, collar, cap or similar agreements providing interest rate protection and currency swaps and currency options made in the
ordinary course of business and permitted pursuant to §8.1. 
 §8.13 Transactions with Affiliates. No Borrower shall, and
none of them shall permit any Subsidiary of any Borrower to, permit to exist or enter into, any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate (but not including any
Subsidiary of Parent Borrower), except (i) transactions in connection with the Management Agreements, (ii) transactions set forth on Schedule 6.15 attached hereto and Schedule 7.24 hereto and (iii) transactions pursuant
to the reasonable requirements of the business of such Person and upon fair and reasonable terms which are no less favorable to such Person than would be obtained in a comparable arm’s length transaction with a Person that is not an Affiliate.

 §8.14 Equity Pledges. Notwithstanding anything in this Agreement to the contrary, prior to the occurrence of the Capital
Event, Managing Member, Eden Managing Members, Lammot J. du Pont and Hossein Fateh, and after the occurrence of the Capital Event, REIT will not create or incur or suffer to be created or incurred any Lien on any of their respective direct or
indirect legal, equitable or beneficial interest in Parent Borrower, including, without limitation, any Distributions or rights to Distributions on account thereof, other than the pledges by Lammot J. du Pont and Hossein Fateh and/or any
wholly-owned subsidiaries thereof and the pledges by the Eden Managing Members of their respective direct and/or indirect interests in Parent Borrower to LBHI pursuant to the LBHI Loan Documents; provided that in no event shall such interests be
transferred by foreclosure, conveyance in lieu thereof, operation of law, or otherwise, to LBHI or any other Person other than as permitted in the Recognition Agreement. 
 §8.15 LBHI Loan Documents. The Borrowers shall deliver promptly to the Agent copies of any notice of default, acceleration or the exercise or threat of exercise of any remedies under any of the LBHI Loan
Documents furnished or delivered to or by or on behalf of the lender thereunder. The Borrowers shall not permit any borrower under the LBHI Loan Documents to seek nor to obtain additional advances from the holder or holders of any of the LBHI Loan
Documents other than additional advances contemplated by the LBHI Loan Documents as of the date hereof, or to modify, amend, terminate, seek or obtain a consent or waiver under the LBHI Loan Documents in any respect without the prior written
approval of the Agent (other than a waiver of an “Event of Default” under any of the LBHI Loan Documents) other than as permitted by the Recognition Agreement. 
 §8.16 Management Fees. 
 (a) Borrowers shall not pay, and shall not permit to be paid, any
management fees or other payments under any Management Agreement for any Mortgaged Property to DFD Technical Services, LLC or any other manager that is an Affiliate of any Borrower in the event that (a) a Default or Event of Default shall have
occurred and be continuing or (b) the Capital Event has not occurred on or before August 7, 2008 until the occurrence of the Capital Event. 
 (b) None of the Borrowers shall pay to DuPont Fabros Development LLC or any other Affiliate of the Borrowers any asset management fee under the organizational 

  

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agreements of such Borrower in the event that (a) a Default or Event of Default shall have occurred and be continuing or (b) the Capital Event has
not occurred on or before August 7, 2008 until the occurrence of the Capital Event. 
 §8.17 Construction of Additional
Buildings on VA4. For so long as the Real Estate owned by Porpoise Ventures LLC commonly known as “VA4” is included in the calculation of the Borrowing Base Value, Borrower shall not permit the expansion of any existing buildings on
such Real Estate or the development of additional buildings thereon pursuant to any Lease existing as of the date of this Agreement without the prior written approval of the Agent. 
 §9. FINANCIAL COVENANTS. 
 The Borrowers covenant and agree that, so long as any Loan, Note or Letter of
Credit is outstanding or any Lender has any obligation to make any Loans or issue any Letter of Credit: 
 §9.1 Borrowing Base.
The Borrowers shall not permit the outstanding principal balance of the Loans and the Letter of Credit Liabilities to be greater than the Borrowing Base Value. 
 §9.2 Consolidated Total Indebtedness to Gross Asset Value. Borrowers will not permit Consolidated Total Indebtedness to exceed seventy-five percent (75%) of Parent Borrower’s Gross Asset Value
(or to exceed sixty-five percent (65%) of Parent Borrower’s Gross Asset Value following the occurrence of the Capital Event). 
 §9.3 Minimum Borrowing Base Debt Service Coverage Ratio. Commencing with the calendar quarter ending September 30, 2007 and continuing at all times thereafter, the Borrowers will not permit the Borrowing Base Debt Service
Coverage Ratio to be less than 1.30 to 1.00 (or less than 1.35 to 1.0 following the occurrence of the Capital Event). 
 §9.4
Adjusted Consolidated EBITDA to Consolidated Fixed Charges. Commencing with the calendar quarter ending September 30, 2007 and continuing at all times thereafter, the Borrowers will not permit the ratio of Adjusted Consolidated EBITDA
determined for the most recently ended calendar quarter to Consolidated Fixed Charges for the most recently ended calendar quarter annualized, to be less than 1.30 to 1.00 (or less than 1.45 to 1.0 following the occurrence of the Capital Event).

 §9.5 Minimum Consolidated Tangible Net Worth. The Borrowers will not at any time permit Parent Borrower’s Consolidated
Tangible Net Worth to be less than the following: (a) prior to the occurrence of the Capital Event, $285,000,000.00, and (b) from and after the occurrence of the Capital Event, the sum of (i) eighty-five percent (85%) of the Net
Offering Proceeds of the Capital Event (but not less than $425,000,000.00), plus (ii) seventy-five percent (75%) of the sum of (A) any additional Net Offering Proceeds after the occurrence of the Capital Event (but not as part of the
Capital Event), plus (B) the value of interests in Parent Borrower or interests in REIT issued upon the contribution of assets to Parent Borrower or its Subsidiaries after the occurrence of the Capital Event (but not as part of the Capital
Event) (with such value determined at the time of contribution). 
  

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 §9.6 Borrowing Base Assets. At all times, the Borrowing Base Availability shall be determined
from at least three (3) Mortgaged Properties having an aggregate Borrowing Base Availability of not less than $250,000,000.00. 
 §9.7 Unhedged Variable Rate Debt. Commencing with the calendar quarter ending March 31, 2008 and continuing thereafter, the Borrowers shall not permit the Unhedged Variable Rate Debt of Borrowers and their respective
Subsidiaries to exceed thirty-five percent (35%) of Gross Asset Value. 
 §10. CLOSING CONDITIONS. 
 The obligation of the Lenders to make the Loans or issue Letters of Credit shall be subject to the satisfaction of the following conditions precedent:

 §10.1 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. The Agent shall have received a fully executed counterpart of each such document. 
 §10.2
Certified Copies of Organizational Documents. The Agent shall have received from each Borrower a copy, certified as of a recent date by the appropriate officer of each State in which such Person is organized and in which the Mortgaged
Properties are located and a duly authorized officer, partner or member of such Person, as applicable, to be true and complete, of the partnership agreement, corporate charter or operating agreement and/or other organizational agreements of such
Borrower, as applicable, and its qualification to do business, as applicable, as in effect on such date of certification. 
 §10.3
Resolutions. All action on the part of each Borrower, as applicable, necessary for the valid execution, delivery and performance by such Person of this Agreement and the other Loan Documents to which such Person is or is to become a party
shall have been duly and effectively taken, and evidence thereof reasonably satisfactory to the Agent shall have been provided to the Agent. 
 §10.4 Incumbency Certificate; Authorized Signers. The Agent shall have received from each Borrower an incumbency certificate, dated as of the Closing Date, signed by a duly authorized officer of such Person and giving the name
and bearing a specimen signature of each individual who shall be authorized to sign, in the name and on behalf of such Person, each of the Loan Documents to which such Person is or is to become a party. The Agent shall have also received from each
Borrower a certificate, dated as of the Closing Date, signed by a duly authorized representative of Borrowers and giving the name and specimen signature of each Authorized Officer who shall be authorized to make Loan Requests, Letter of Credit
Requests and Conversion/Continuation Requests and to give notices and to take other action on behalf of the Borrowers under the Loan Documents. 
 §10.5 Opinion of Counsel. The Agent shall have received an opinion addressed to the Lenders and the Agent and dated as of the Closing Date from counsel to the Borrowers in form and substance reasonably satisfactory to the Agent.

  

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 §10.6 Payment of Fees. The Borrowers shall have paid to the Agent the fees payable pursuant
to §4.2. 
 §10.7 Insurance. The Agent shall have received certificates evidencing that the Agent and the Lenders are named
as mortgagee and additional insured, as applicable, on all policies of insurance as required by this Agreement or the other Loan Documents. 
 §10.8 Performance; No Default. Borrowers shall have performed and complied with all terms and conditions herein required to be performed or complied with by it on or prior to the Closing Date, and on the Closing Date there shall
exist no Default or Event of Default. 
 §10.9 Representations and Warranties. The representations and warranties made by the
Borrowers in the Loan Documents or otherwise made by or on behalf of the Borrowers and their respective Subsidiaries in connection therewith or after the date thereof shall have been true and correct in all material respects when made and shall also
be true and correct in all material respects on the Closing Date. 
 §10.10 Proceedings and Documents. All proceedings in
connection with the transactions contemplated by this Agreement and the other Loan Documents shall be reasonably satisfactory to the Agent and the Agent’s counsel in form and substance, and the Agent shall have received all information and such
counterpart originals or certified copies of such documents and such other certificates, opinions, assurances, consents, approvals or documents as the Agent and the Agent’s counsel may reasonably require. 
 §10.11 Eligible Real Estate Qualification Documents. The Eligible Real Estate Qualification Documents for each Mortgaged Property included in
the Collateral as of the Closing Date shall have been delivered to the Agent at the Borrowers’ expense and shall be in form and substance satisfactory to the Agent. 
 §10.12 Compliance Certificate. The Agent shall have received a Compliance Certificate dated as of the date of the Closing Date demonstrating compliance with each of the covenants calculated therein as of
the most recent calendar quarter for which Parent Borrower has provided financial statements under §6.4 adjusted in the best good faith estimate of Parent Borrower as of the Closing Date. 
 §10.13 Appraisals. The Agent shall have received Appraisals of each of the Mortgaged Properties and other Real Estate of Parent Borrower and
its Subsidiaries (other than the Development Properties) in form and substance satisfactory to the Agent, and the Agent shall have determined an Appraised Value for such Mortgaged Properties and other Real Estate. 
 §10.14 Consents. The Agent shall have received evidence reasonably satisfactory to the Agent that all necessary stockholder, partner, member
or other consents required in connection with the consummation of the transactions contemplated by this Agreement and the other Loan Documents have been obtained. 
 §10.15 Contribution Agreement. The Agent shall have received an executed counterpart of the Contribution Agreement. 
  

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 §10.16 Recognition Agreements. The Agent shall have received an executed counterpart of the
Recognition Agreement and the CH1 Recognition Agreement. 
 §10.17 Other. The Agent shall have reviewed such other documents,
instruments, certificates, opinions, assurances, consents and approvals as the Agent or the Agent’s Special Counsel may reasonably have requested. 
 §11. CONDITIONS TO ALL BORROWINGS. 
 The obligations of the Lenders to make any Loan or issue any Letter of Credit, whether on
or after the Closing Date, shall also be subject to the satisfaction of the following conditions precedent: 
 §11.1 Prior Conditions
Satisfied. All conditions set forth in §10 shall continue to be satisfied as of the date upon which any Loan is to be made or any Letter of Credit is to be issued. 
 §11.2 Representations True; No Default. Each of the representations and warranties made by or on behalf of the Borrowers 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 in all material respects both as of the date as of which they
were made and shall also be true in all material respects as of the time of the making of such Loan or the issuance of such Letter of Credit, with the same effect as if made at and as of that time, except to the extent of changes resulting from
transactions permitted by the Loan Documents (it being understood and agreed that any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct only as of such specified date), and no
Default or Event of Default shall have occurred and be continuing. 
 §11.3 Borrowing Documents. The Agent shall have received a
fully completed Loan Request for such Loan and the other documents and information (including, without limitation, a Compliance Certificate) as required by §2.7, or a fully completed Letter of Credit Request required by §2.10 in the form
of Exhibit H hereto fully completed, as applicable. 
 §11.4 Endorsement to Title Policy. At such times as Agent shall
determine in its discretion prior to each funding, to the extent available under applicable law, a “date down” endorsement to each Title Policy indicating no change in the state of title and containing no survey exceptions not approved by
the Agent, which endorsement shall, expressly or by virtue of a proper “revolving credit” clause or endorsement in each Title Policy, increase the coverage of each Title Policy to the aggregate amount of all Loans advanced and outstanding
and Letters of Credit issued and outstanding on or before the effective date of such endorsement (provided that the amount of coverage under an individual Title Policy for an individual Mortgaged Property need not equal the aggregate amount
of all Loans), or if such endorsement is not available, such other evidence and assurances as the Agent may reasonably require (which evidence may include, without limitation, an affidavit from the Borrowers stating that there have been no changes
in title from the date of the last effective date of the Title Policy). 
 §11.5 Future Advances Tax Payment. As a condition
precedent to any Lender’s obligations to make any Loans available to the Borrowers hereunder, the Borrowers will pay to the Agent any mortgage, recording, intangible, documentary stamp or other similar taxes and 

  

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charges which the Agent reasonably determines to be payable as a result of such Loan to any state or any county or municipality thereof in which any of the
Mortgaged Properties are located, and deliver to the Agent such affidavits or other information which the Agent reasonably determines to be necessary in connection with such payment in order to insure that the Mortgages on Mortgaged Property located
in such state secure the Borrowers’ obligation with respect to the Loans then being requested by the Borrowers. The provisions of this §11.5 shall not limit the Borrowers’ obligations under other provisions of the Loan Documents,
including without limitation §15 hereof. 
 §12. EVENTS OF DEFAULT; ACCELERATION; ETC. 
 §12.1 Events of Default and Acceleration. If any of the following events (“Events of Default” or, if the giving of notice or the
lapse of time or both is required, then, prior to such notice or lapse of time, “Defaults”) shall occur: 
 (a) the Borrowers shall
fail to pay any principal of the 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; 
 (b) the Borrowers shall fail to pay any interest on the Loans, any reimbursement obligations with respect to the Letters of Credit or any fees or other
sums due hereunder or under any of the other Loan Documents 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; 
 (c) the Borrowers shall fail to comply with the covenant contained in §9.1 and such failure shall continue for five (5) days after written
notice thereof shall have been given to the Borrowers by the Agent; 
 (d) any of the Borrowers or any of their respective Subsidiaries shall
fail to perform any other term, covenant or agreement contained in §9.2, §9.3, §9.4, §9.5, §9.6 or §9.7; 
 (e)
any of the Borrowers 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 which they are required to perform (other than those specified in the
other subclauses of this §12 or in the other Loan Documents); 
 (f) any representation or warranty made by or on behalf of the
Borrowers or any of their respective Subsidiaries in this Agreement or any other Loan Document, or any report, certificate, financial statement, request for a Loan, Letter of Credit Request, or in any other document or instrument delivered pursuant
to or in connection with this Agreement, any advance of a Loan, the issuance of any Letter of Credit 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; 
 (g) any of the Borrowers or any of their Subsidiaries shall fail to pay when due (including, without limitation, at maturity),
or within any applicable period of grace, any principal, interest or other amount on account any obligation for borrowed money or credit 

  

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received or other Indebtedness, or shall fail to observe or perform any term, covenant or agreement contained in any agreement by which it is bound,
evidencing or securing any obligation for borrowed money or credit received or other Indebtedness for such period of time as would permit (assuming the giving of appropriate notice if required) the holder or holders thereof or of any obligations
issued thereunder to accelerate the maturity thereof; provided that the events described in §12.1(g) shall not constitute an Event of Default unless such failure to perform, together with other failures to perform as described in
§12.1(g), involve singly or in the aggregate obligations for borrowed money or credit received or other Indebtedness totaling in excess of $25,000,000.00; 
 (h) any of the Borrowers or any of their respective Subsidiaries or REIT, (i) shall make an assignment for the benefit of creditors, or admit in writing its general 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 for it or any substantial part of its assets, (ii) shall commence any case or other proceeding relating
to it under any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution or liquidation or similar law of any jurisdiction, now or hereafter in effect, or (iii) shall take any action to authorize or in furtherance
of any of the foregoing; 
 (i) a petition or application shall be filed for the appointment of a trustee or other custodian, liquidator or
receiver of any of the Borrowers or any of their respective Subsidiaries or REIT or any substantial part of the assets of any thereof, or a case or other proceeding shall be commenced against any such Person under any bankruptcy, reorganization,
arrangement, insolvency, readjustment of debt, dissolution or liquidation or similar law of any jurisdiction, now or hereafter in effect, and any such Person shall indicate its approval thereof, consent thereto or acquiescence therein or such
petition, application, case or proceeding shall not have been dismissed within sixty (60) days following the filing or commencement thereof; 
 (j) a decree or order is entered appointing a trustee, custodian, liquidator or receiver for any of the Borrowers or any of their respective Subsidiaries or REIT or adjudicating any such Person, 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 such Person in an involuntary case under federal bankruptcy laws as now or hereafter constituted; 
 (k) there shall remain in force, undischarged, unsatisfied and unstayed, for more than sixty (60) days, whether or not consecutive, one or more
uninsured or unbonded final judgments against Parent Borrower or any of its Subsidiaries that, either individually or in the aggregate, exceed $1,000,000.00; 
 (l) any of the Loan Documents or the Contribution Agreement shall be canceled, terminated, revoked or rescinded otherwise than in accordance with the terms thereof or the express prior written agreement, consent or
approval of the Lenders, or any action at law, suit in equity or other legal proceeding to cancel, revoke or rescind any of the Loan Documents or the Contribution Agreement shall be commenced by or on behalf of any of the Borrowers, or any court or
any other governmental or regulatory authority or agency of competent jurisdiction shall make a determination, or issue a judgment, order, decree or ruling, to the effect that any one or more of the Loan Documents or the Contribution Agreement is
illegal, invalid or unenforceable in accordance with the terms thereof; 
  

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 (m) any dissolution, termination, partial or complete liquidation, merger or consolidation of any of the
Borrowers or any of their respective Subsidiaries shall occur or any sale, transfer or other disposition of the assets of any of the Borrowers or any of their respective Subsidiaries shall occur other than as permitted under the terms of this
Agreement or the other Loan Documents; 
 (n) with respect to any Guaranteed Pension Plan, an ERISA Reportable Event shall have occurred and
the Required Lenders shall have determined in their reasonable discretion that such event reasonably could be expected to result in liability of any of the Borrowers or any of their respective Subsidiaries to the PBGC or such Guaranteed Pension Plan
in an aggregate amount exceeding $1,000,000.00 and (x) such event in the circumstances 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 (y) a trustee shall have been appointed by the United States District Court to administer such Plan; or (z) the PBGC shall have instituted proceedings
to terminate such Guaranteed Pension Plan; 
 (o) any Borrower or any of their respective Subsidiaries or any shareholder, officer, director,
partner or member of any of them shall be indicted for a federal crime, a punishment for which could include the forfeiture of (i) any assets of Borrowers or any of their respective Subsidiaries which in the good faith judgment of the Required
Lenders could have a Material Adverse Effect, or (ii) the Collateral; 
 (p) any Change of Control shall occur; 
 (q) an Event of Default under any of the other Loan Documents shall occur; or 
 (r) the Borrowers shall fail to comply with the covenants set forth in §8.6 hereof; provided, however, no Event of Default shall occur
hereunder as a result of such failure if such failure relates solely to a parcel or parcels of Real Estate that is/are not a Mortgaged Property and whose book value, either individually or in the aggregate, does not exceed $1,000,000.00; 

then, and in any such event, the Agent may, and upon the request of the Required Lenders shall, by notice in writing to the Borrowers declare all amounts owing with
respect to this Agreement, the Notes, the Letters of Credit 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 Borrowers; provided that in the event of any Event of Default specified in §12.1(h), §12.1(i) or §12.1(j), all such amounts shall become immediately due and payable automatically and without any
requirement of presentment, demand, protest or other notice of any kind from any of the Lenders or the Agent. Upon demand by Agent or the Majority Revolving Credit Lenders in their absolute and sole discretion after the occurrence of an Event of
Default, and regardless of whether the conditions 

  

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precedent in this Agreement for a Revolving Credit Loan have been satisfied, the Revolving Credit Lenders will cause a Revolving Credit Loan to be made in
the undrawn amount of all Letters of Credit. The proceeds of any such Revolving Credit Loan will be pledged to and held by Agent as security for any amounts that become payable under the Letters of Credit and all other Obligations and Hedge
Obligations. In the alternative, if demanded by Agent in its absolute and sole discretion after the occurrence of an Event of Default, Borrowers will deposit with and pledge to Agent cash in an amount equal to the amount of all undrawn Letters of
Credit. Such amounts will be pledged to and held by Agent for the benefit of the Lenders as security for any amounts that become payable under the Letters of Credit and all other Obligations and Hedge Obligations. Upon any draws under Letters of
Credit, at Agent’s sole discretion, Agent may apply any such amounts to the repayment of amounts drawn thereunder and upon the expiration of the Letters of Credit any remaining amounts will be applied to the payment of all other Obligations and
Hedge Obligations or if there are no outstanding Obligations and Hedge Obligations and Lenders have no further obligation to make Revolving Credit Loans or issue Letters of Credit or if such excess no longer exists, such proceeds deposited by
Borrowers will be released to Borrowers. 
 §12.2 Certain Cure Periods; Limitation of Cure Periods. 
 (a) Notwithstanding anything contained in §12.1 to the contrary, (i) no Event of Default shall exist hereunder upon the occurrence of any
failure described in §12.1(b) in the event that the Borrowers cure such Default within five (5) Business Days after the date such payment is due, provided that no such cure period shall apply to any payments due upon the maturity of
the Notes, and (ii) no Event of Default shall exist hereunder upon the occurrence of any failure described in §12.1(e) in the event that, if such Default consists of the failure to provide insurance as required by §7.7, the Borrowers
cure such Default within fifteen (15) days following receipt of written notice of such Default or with respect to the occurrence of any other failure described in §12.1(e) in the event that the Borrowers cure such Default within thirty
(30) days following receipt of written notice of such default, provided that the provisions of this clause (ii) shall not pertain to any default consisting of a failure to comply with §7.4(c), §7.14, §7.19,
§7.21, §7.22, §7.24, §8.1, §8.2, §8.3, §8.4, §8.7, §8.8, §8.14, §8.15 or to any Default excluded from any provision of cure of defaults contained in any other of the Loan Documents. 

(b) In the event that there shall occur any Default that affects only certain Mortgaged Property or the owner(s) thereof (if such owner is a
Subsidiary Borrower), then the Borrowers may elect to cure such Default (so long as no other Default or Event of Default would arise as a result) by electing to have Agent remove such Mortgaged Property from the calculation of Borrowing Base
Availability and by reducing the outstanding Loans by the amount of the Borrowing Base Availability attributable to such Mortgaged Property, in which event such removal and reduction shall be completed within five (5) days after receipt of
notice of such Default from the Agent or the Required Lenders. 
 §12.3 Termination of Commitments. If any one or more Events of
Default specified in §12.1(h), §12.1(i) or §12.1(j) shall occur, then immediately and without any action on the part of the Agent or any Lender any unused portion of the credit hereunder shall terminate and the Lenders shall be
relieved of all obligations to make Loans or issue Letters of Credit to the Borrowers. If any other Event of Default shall have occurred, the Agent may, and upon the 

  

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election of the Majority Revolving Credit Lenders shall, by notice to the Borrowers terminate the obligation to make Revolving Credit Loans and issue Letters
of Credit to the Borrowers. No termination under this §12.3 shall relieve the Borrowers of their obligations to the Lenders arising under this Agreement or the other Loan Documents. 
 §12.4 Remedies. In case any one or more Events of Default shall have occurred and be continuing, and whether or not the Lenders shall have
accelerated the maturity of the Loans pursuant to §12.1, the Agent on behalf of the Lenders may, and upon the direction of the Required Lenders shall, proceed to protect and enforce their rights and remedies under this Agreement, the Notes
and/or any of the other Loan Documents by suit in equity, action at law or other appropriate proceeding, including to the full extent permitted by applicable law the specific performance of any covenant or agreement contained in this Agreement and
the other Loan Documents, the obtaining of the ex parte appointment of a receiver, and, if any amount shall have become due, by declaration or otherwise, the enforcement of the payment thereof. No remedy herein conferred upon the Agent or the holder
of any Note 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 now or hereafter existing at law or in equity or by statute or any other
provision of law. Notwithstanding the provisions of this Agreement providing that the Loans may be evidenced by multiple Notes in favor of the Lenders, the Lenders acknowledge and agree that only the Agent may exercise any remedies arising by reason
of a Default or Event of Default. If any Borrower fails to perform any agreement or covenant contained in this Agreement or any of the other Loan Documents beyond any applicable period for notice and cure or with respect to the obligations of
Borrowers under §7.7, fails to perform any agreement or covenant contained in §7.7 without regard to any period for notice and cure, Agent may itself perform, or cause to be performed, any agreement or covenant of such Person contained in
this Agreement or any of the other Loan Documents which such Person shall fail to perform, and the out-of-pocket costs of such performance, together with any reasonable expenses, including reasonable attorneys’ fees actually incurred (including
attorneys’ fees incurred in any appeal) by Agent in connection therewith, shall be payable by Borrowers upon demand and shall constitute a part of the Obligations and shall if not paid within five (5) days after demand bear interest at the
rate for overdue amounts as set forth in this Agreement. In the event that all or any portion of the Obligations is collected by or through an attorney-at-law, the Borrowers shall pay all costs of collection including, but not limited to, reasonable
attorney’s fees. 
 §12.5 Distribution of Collateral Proceeds. In the event that, following the occurrence and during the
continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the Collateral or other assets of Borrowers, such monies shall be
distributed for application as follows: 
 (a) First, to the payment of, or (as the case may be) the reimbursement of the Agent for or in
respect of, all reasonable out-of-pocket costs, expenses, disbursements and losses which shall have been paid, incurred or sustained by the Agent to protect or preserve the Collateral or in connection with the collection of such monies by the Agent,
for the exercise, protection or enforcement by the Agent of all or any of the rights, remedies, powers and privileges of the Agent or the Lenders under this Agreement or any of the other Loan Documents or in respect of the Collateral or in support
of any provision of adequate indemnity to the Agent against any taxes or liens which by law shall have, or may have, priority over the rights of the Agent or the Lenders to such monies; 
  

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 (b) Second, to all other Obligations and Hedge Obligations (including any interest, expenses or other
obligations incurred after the commencement of a bankruptcy) in such order or preference as the Required Lenders shall determine; provided, that (i) Swing Loans shall be repaid first, (ii) distributions in respect of such other
Obligations shall include, on a pari passu basis, any Agent’s fee payable pursuant to §4.2; (iii) in the event that any Lender shall have wrongfully failed or refused to make an advance under §2.5(d), §2.7 or §2.10(f)
and such failure or refusal shall be continuing, advances made by other Lenders during the pendency of such failure or refusal shall be entitled to be repaid as to principal and accrued interest in priority to the other Obligations described in this
subsection (b), and (iv) except as otherwise provided in clause (iii), Obligations owing to the Lenders with respect to each type of Obligation such as interest, principal, fees and expenses (but excluding the Swing Loans) and Hedge Obligations
shall be made among the Lenders and Lender Hedge Providers pro rata and as between Revolving Credit Loans and Term Loans shall be made pro rata; and provided, further that the Required Lenders may in their discretion make proper
allowance to take into account any Obligations and Hedge Obligations not then due and payable; and 
 (c) Third, the excess, if any, shall be
returned to the Borrowers or to such other Persons as are entitled thereto. 
 §13. SETOFF. 
 Regardless of the adequacy of any Collateral, during the continuance of any Event of Default, any deposits (general or specific, time or demand,
provisional or final, regardless of currency, maturity, or the branch where such deposits are held) or other sums credited by or due from any Lender to the Borrowers and any securities or other property of the Borrowers in the possession of such
Lender may, without notice to any Borrower (any such notice being expressly waived by Borrowers) but with the prior written approval of Agent, be applied to or set off against the payment of Obligations and any and all other liabilities, direct, or
indirect, absolute or contingent, due or to become due, now existing or hereafter arising, of the Borrowers to such Lender. Each of the Lenders agrees with each other Lender that if such Lender shall receive from a Borrower, whether by voluntary
payment, exercise of the right of setoff, or otherwise, and shall retain and apply to the payment of the Note or Notes held by such Lender (but excluding the Swing Loan Note) any amount in excess of its ratable portion of the payments received by
all of the Lenders with respect to the Notes 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 Notes 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. 
  

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 §14. THE AGENT. 
 §14.1 Authorization. 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 obligations of the Agent hereunder
are primarily administrative in nature, and nothing contained in this Agreement or any of the other Loan Documents shall be construed to constitute the Agent as a trustee for any Lender or to create an agency or fiduciary relationship. Agent shall
act as the contractual representative of the Lenders hereunder, and notwithstanding the use of the term “Agent”, it is understood and agreed that Agent shall not have any fiduciary duties or responsibilities to any Lender by reason of this
Agreement or any other Loan Document and is acting as an independent contractor, the duties and responsibilities of which are limited to those expressly set forth in this Agreement and the other Loan Documents. The Borrowers and any other Person
shall be entitled to conclusively rely on a statement from the Agent that it has the authority to act for and bind the Lenders pursuant to this Agreement and the other Loan Documents. 
 §14.2 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 may reasonably determine, and
all reasonable fees and expenses of any such Persons shall be paid by the Borrowers. 
 §14.3 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 (a) 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 or such
other Person, as the case may be, shall be liable for losses due to its willful misconduct or gross negligence as finally determined by a court of competent jurisdiction after the expiration of all applicable appeal periods or (b) any action
taken or not taken by Agent with the consent or at the request of the Required Lenders. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults in the payment of
principal, interest and fees required to be paid to the Agent for the account of the Lenders, unless the Agent has received notice from a Lender or the Borrowers referring to the Loan Documents and describing with reasonable specificity such Default
or Event of Default and stating that such notice is a “notice of default”. 
 §14.4 No Representations. The Agent shall
not be responsible for the execution or validity or enforceability of this Agreement, the Notes, any of the other Loan Documents or any instrument at any time constituting, or intended to constitute, collateral security for the Notes, or for the
value of any such collateral security or for the validity, enforceability or collectability of any such amounts owing with respect to the Notes, or for any recitals or statements, warranties or representations made herein, or any agreement,
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therewith or in any of the other Loan Documents or in any certificate or instrument hereafter furnished to it by or on behalf of the Borrowers 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 herein or in any of the other Loan Documents. The Agent shall not be bound to ascertain
whether any notice, consent, waiver or request delivered to it by the Borrowers 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 creditworthiness or financial condition of the Borrowers or any of their respective Subsidiaries, or the value of the Collateral or any other assets
of the Borrowers or any of their respective Subsidiaries. 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. Each Lender also acknowledges that it will, independently and without reliance upon the Agent or any other Lender, based upon such information and documents as it deems appropriate
at the time, continue to make its own credit analysis and decisions in taking or not taking action under this Agreement and the other Loan Documents. Agent’s Special Counsel has only represented Agent and KeyBank in connection with the Loan
Documents and the only attorney client relationship or duty of care is between Agent’s Special Counsel and Agent or KeyBank. Each Lender has been independently represented by separate counsel on all matters regarding the Loan Documents and the
granting and perfecting of liens in the Collateral. 
 §14.5 Payments. 
 (a) A payment by the Borrowers to the Agent hereunder or under any of the other Loan Documents for the account of any Lender shall constitute a payment to
such Lender. The Agent agrees to distribute to each Lender not later than one Business Day after the Agent’s receipt of good funds, determined in accordance with the Agent’s customary practices, such Lender’s pro rata share of
payments received by the Agent for the account of the Lenders except as otherwise expressly provided herein or in any of the other Loan Documents. In the event that the Agent fails to distribute such amounts within one Business Day as provided
above, the Agent shall pay interest on such amount at a rate per annum equal to the Federal Funds Effective Rate from time to time in effect. 
 (b) If in the 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 liability, it may refrain from making such
distribution until its right to make such distribution shall have been adjudicated by a court of competent jurisdiction. 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 participation in a Letter of Credit or Swing Loan, (ii) to comply with the provisions of §13 with respect to making dispositions and arrangements with the other

  

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Lenders, where such Lender’s share of any payment received, whether by setoff or otherwise, is in excess of its pro rata share of such payments due and
payable to all of the Lenders, in each case as, when and to the full extent required by the provisions of this Agreement, or (iii) to perform any other obligation within the time period specified for performance, or if no time period is
specified, if such failure continues for a period of five (5) Business Days after notice from the Agent shall be deemed delinquent (a “Delinquent Lender”) and shall be deemed a Delinquent Lender until such time as such delinquency is
satisfied. In addition to the rights and remedies that may be available to the Agent at law and in equity, a Delinquent Lender’s right to participate in the administration of the Loan Documents, including, without limitation, any rights to
consent to or direct any action or inaction of the Agent pursuant to this Agreement or otherwise, or to be taken into account in the calculation of Majority Revolving Credit Lenders, Required Lenders or any matter requiring approval of all of the
Lenders, shall be suspended while such Lender is a Delinquent Lender. A Delinquent Lender shall be deemed to have assigned any and all payments due to it from the Borrowers, 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. The provisions of this Section shall apply and be effective regardless of whether an Event of Default occurs and is then continuing, and notwithstanding (i) any other
provision of this Agreement to the contrary or (ii) any instruction of Borrowers as to its desired application of payments. The Agent shall be entitled to (i) withhold or set off, and to apply to the payment of the obligations of any
Delinquent Lender any amounts to be paid to such Delinquent Lender under this Agreement, (ii) to collect interest from such Lender for the period from the date on which the payment was due at the rate per annum equal to the Federal Funds
Effective Rate plus one percent (1%), for each day during such period, and (iii) bring an action or suit against such Delinquent Lender in a court of competent jurisdiction to recover the defaulted obligations of such 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 or as a result of other payments by the Delinquent
Lenders to 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.

 §14.6 Holders of Notes. Subject to the terms of §18, the Agent may deem and treat the payee of any Note 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. 
 §14.7 Indemnity. The Lenders ratably agree hereby to indemnify and hold harmless the Agent 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 Borrowers as required by §15), 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 after the expiration of all applicable appeal periods. The agreements in this §14.7 shall survive the payment
of all amounts payable under the Loan Documents. 
  

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 §14.8 Agent as Lender. In its individual capacity, 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 as it would have were it not also the Agent. 
 §14.9 Resignation. The Agent may resign at any time by giving thirty (30) calendar days’ prior written notice thereof to the
Lenders and the Borrowers. The Required Lenders may remove the Agent from its capacity as Agent in the event of the Agent’s gross negligence or willful misconduct. Any such resignation or removal may at Agent’s option also constitute
Agent’s resignation as Issuing Lender and Swing Loan Lender. Upon any such resignation, or removal, the Required Lenders, subject to the terms of §18.1, shall have the right to appoint as a successor Agent and, if applicable, Issuing
Lender and Swing Loan Lender, any Lender or any bank whose senior debt obligations are rated not less than “A” or its equivalent by Moody’s or not less than “A” or its equivalent by S&P and which has a net worth of not
less than $500,000,000.00; provided that any such replacement Agent shall have a Commitment Percentage of not less than ten percent (10%). Unless a Default or Event of Default shall have occurred and be continuing, such successor Agent and, if
applicable, Issuing Lender and Swing Loan Lender, shall be reasonably acceptable to the Borrowers. If no successor Agent shall have been appointed and shall have accepted such appointment within thirty (30) days after the retiring Agent’s
giving of notice of resignation or the Required Lender’s removal of the Agent, then the retiring or removed Agent may, on behalf of the Lenders, appoint a successor Agent, which shall be any Lender or any financial institution whose
senior debt obligations are rated not less than “A2” or its equivalent by Moody’s or not less than “A” or its equivalent by S&P and which has a net worth of not less than $500,000,000.00. Upon the acceptance of any
appointment as Agent and, if applicable, Issuing Lender and Swing Loan Lender, hereunder by a successor Agent and, if applicable, Issuing Lender and Swing Loan Lender, such successor Agent and, if applicable, Issuing Lender and Swing Loan Lender,
shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Agent and, if applicable, Issuing Lender and Swing Loan Lender, and the retiring or removed Agent and, if applicable, Issuing
Lender and Swing Loan Lender, shall be discharged from its duties and obligations hereunder as Agent and, if applicable, Issuing Lender and Swing Loan Lender. After any retiring Agent’s resignation or removal, the provisions of this Agreement
and the other Loan Documents shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as Agent, Issuing Lender and Swing Loan Lender. If the resigning or removed Agent shall also
resign as the Issuing Lender, such successor Agent shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or shall make other arrangements satisfactory to the current Issuing
Lender, in either case, to assume effectively the obligations of the current Agent with respect to such Letters of Credit. Upon any change in the Agent under this Agreement, the resigning or removed Agent shall execute such assignments of and
amendments to the Loan Documents as may be necessary to substitute the successor Agent for the resigning or removed Agent. 
 §14.10
Duties in the Case of Enforcement. In case one or more Events of Default have occurred and shall be continuing, and whether or not acceleration of the Obligations shall have 

  

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occurred, the Agent may and, if (a) so requested by the Required Lenders and (b) the Lenders have provided to the Agent such additional indemnities
and assurances in accordance with their respective Commitment Percentages against expenses and liabilities as the Agent may reasonably request, shall proceed to exercise all or any legal and equitable and other rights or remedies as it may have;
provided, however, that unless and until the Agent shall have received such directions, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of
Default as it shall deem to be in the best interests of the Lenders. Without limiting the generality of the foregoing, if Agent reasonably determines payment is in the best interest of all the Lenders, Agent may without the approval of the Lenders
pay taxes and insurance premiums and spend money for maintenance, repairs or other expenses which may be necessary to be incurred, and Agent shall promptly thereafter notify the Lenders of such action. Each Lender shall, within thirty (30) days
of request therefor, pay to the Agent its Commitment Percentage of the reasonable costs incurred by the Agent in taking any such actions hereunder to the extent that such costs shall not be promptly reimbursed to the Agent by the Borrowers or out of
the Collateral within such period with respect to the Mortgaged Properties. The Required Lenders may direct the Agent in writing as to the method and the extent of any such exercise, the Lenders hereby agreeing to indemnify and hold the Agent
harmless in accordance with their respective Commitment Percentages from all liabilities incurred in respect of all actions taken or omitted in accordance with such directions, 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 after the expiration of all applicable appeal periods, 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 to be unlawful in any applicable jurisdiction or commercially unreasonable under the UCC as enacted in any applicable jurisdiction. 
 §14.11 Bankruptcy. In the event a bankruptcy or other insolvency proceeding is commenced by or against any Borrower with respect to the
Obligations, the Agent shall have the sole and exclusive right to file and pursue a joint proof claim on behalf of all Lenders. Any votes with respect to such claims or otherwise with respect to such proceedings shall be subject to the vote of the
Required Lenders or all of the Lenders as required by this Agreement. Each Lender irrevocably waives its right to file or pursue a separate proof of claim in any such proceedings unless Agent fails to file such claim within thirty (30) days
after receipt of written notice from the Lenders requesting that Agent file such proof of claim. 
 §14.12 Request for Agent
Action. Agent and the Lenders acknowledge that in the ordinary course of business of the Borrowers, (a) Borrowers will enter into leases or rental agreements covering Mortgaged Properties that may require the execution of a Subordination,
Attornment and Non-Disturbance Agreement in favor of the tenant thereunder, (b) a Mortgaged Property may be subject to a Taking, (c) a Borrower may desire to enter into easements or other agreements affecting the Mortgaged Properties, or
take other actions or enter into other agreements in the ordinary course of business which similarly require the consent, approval or agreement of the Agent. In connection with the foregoing, the Lenders hereby expressly authorize the Agent to
(w) execute and deliver to the Borrowers Subordination, Attornment and Non-Disturbance Agreements with any tenant under a Lease upon such terms as Agent in its good faith judgment determines are appropriate (Agent in the exercise of its good
faith judgment may agree to allow some or all of the casualty, condemnation, restoration or other provisions of 

  

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the applicable Lease to control over the applicable provisions of the Loan Documents), (x) execute releases of liens in connection with any Taking,
(y) execute consents or subordinations in form and substance satisfactory to Agent in connection with any easements or agreements affecting the Mortgaged Property, or (z) execute consents, approvals, or other agreements in form and
substance satisfactory to the Agent in connection with such other actions or agreements as may be necessary in the ordinary course of Borrowers’ business. 
 §14.13 Reliance by Agent. The Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by an Authorized Officer. The Agent also may rely upon any
statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, that by its
terms must be fulfilled to the satisfaction of a Lender, the Agent may presume that such condition is satisfactory to such Lender unless the Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. The
Agent may consult with legal counsel (who may be counsel for the Borrowers), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel,
accountants or experts. 
 §14.14 Approvals. If consent is required for some action under this Agreement, or except as otherwise
provided herein an approval of the Lenders, the Majority Revolving Credit Lenders or the Required Lenders is required or permitted under this Agreement, each Lender agrees to give the Agent, within ten (10) days of receipt of the request for
action together with all reasonably requested information related thereto (or such lesser period of time required by the terms of the Loan Documents), notice in writing of approval or disapproval (collectively “Directions”) in respect of
any action requested or proposed in writing pursuant to the terms hereof. To the extent that any Lender does not approve any recommendation of Agent, such Lender shall in such notice to Agent describe the actions that would be acceptable to such
Lender. If consent is required for the requested action, any Lender’s failure to respond to a request for Directions within the required time period shall be deemed to constitute a Direction to take such requested action. In the event that any
recommendation is not approved by the requisite number of Lenders and a subsequent approval on the same subject matter is requested by Agent, then for the purposes of this paragraph each Lender shall be required to respond to a request for
Directions within five (5) Business Days of receipt of such request. Agent and each Lender shall be entitled to assume that any officer of the other Lenders delivering any notice, consent, certificate or other writing is authorized to give such
notice, consent, certificate or other writing unless Agent and such other Lenders have otherwise been notified in writing. 
 §14.15
Borrowers Not Beneficiary. Except for the provisions of §14.9 relating to the appointment of a successor Agent, the provisions of this §14 are solely for the benefit of the Agent and the Lenders, may not be enforced by the
Borrowers, and except for the provisions of §14.9, may be modified or waived without the approval or consent of the Borrowers. 
 §14.16 Recognition Agreements. Borrowers and the Lenders acknowledge that Agent has entered into the Recognition Agreement and the CH1 Recognition Agreement. Borrowers 

  

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acknowledge that the existence of the Recognition Agreement and the CH1 Recognition Agreement and the performance by Agent and the Lenders of their
obligations under the Recognition Agreement and the CH1 Recognition Agreement shall not affect, impair or release the obligations of Borrowers under the Loan Documents. The Recognition Agreement and the CH1 Recognition Agreement are solely for the
benefit of Agent and the Lenders and not for the benefit of Borrowers and Borrowers shall have no rights thereunder or any right to insist on the performance thereof. Agent is authorized by Lenders to perform its obligations under the Recognition
Agreement and the CH1 Recognition Agreement, and each Lender agrees to be bound thereby. In addition, the Lenders acknowledge that in certain circumstances LBHI may purchase the Loan and the Loan Documents, and upon the exercise by LBHI of such
rights, each Lender agrees to comply with the applicable provisions of the Recognition Agreement in connection with the sale of its interest in the Loan and the Loan Documents. 
 §14.17 Reliance on Hedge Provider. For purposes of applying payments received in accordance with §12.5, the Agent shall be entitled to
rely upon the trustee, paying agent or other similar representative (each, a “Representative”) or, in the absence of such a Representative, upon the holder of the Hedge Obligations for a determination (which each holder of the Hedge
Obligations agrees (or shall agree) to provide upon request of the Agent) of the outstanding Hedge Obligations owed to the holder thereof. Unless it has actual knowledge (including by way of written notice from such holder) to the contrary, the
Agent, in acting hereunder, shall be entitled to assume that no Hedge Obligations are outstanding. 
 §14.18 CH1 Recognition
Agreement. The approval of the Required Lenders shall be required to exercise the option to purchase the “Senior Loan” (as defined in the CH1 Recognition Agreement) as set forth in Section 5 of the CH1 Recognition Agreement (the
“Purchase Option”), and in the event that the Purchase Option is exercised, the Senior Loan shall be acquired by the Lenders in accordance with their respective Commitment Percentages (unless otherwise agreed by the Agent and the Lenders),
Agent shall be the agent under the “Senior Loan Documents” (as defined in the CH1 Recognition Agreement), and this Agreement shall apply to the Senior Loan Documents and the relationship of the Agent and the Lenders with respect thereto.
Notwithstanding anything in this Agreement or the Loan Documents to the contrary, in the event that the Required Lenders elect to exercise the Purchase Option, a Lender which votes against the exercise of the Purchase Option may decline to fund its
pro rata share (based upon its Commitment Percentage) of the amount necessary to acquire the Senior Loan; provided that in such event, all amounts otherwise payable to such Lender under this Agreement or the Loan Documents with respect to the Senior
Loan Documents or the collateral for the Senior Loan shall be paid first to those Lenders that have funded amounts to acquire the Senior Loan pursuant to the Purchase Option until all amounts due and payable to such Lenders (including contract
interest, default interest and late charges and any of the foregoing accruing subsequent to the filing of any bankruptcy petition under the Bankruptcy Code) have been paid in full. Additionally, to the extent that Agent and/or any Lender has funded
any payments to cure a default under the Senior Loan Documents as contemplated by the CH1 Recognition Agreement, Agent and/or such Lenders that funded such amounts shall be reimbursed on a pro rata basis in accordance with their respective
Commitment Percentages an amount equal to the such expenses actually incurred by Agent and/or such Lenders, together with interest thereon at the Default Rate until Agent and/or such Lenders are reimbursed in full prior to the payment of all amounts
otherwise payable to the Lenders under this Agreement or the Loan Documents. 
  

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 §15. EXPENSES. 
 The Borrowers agree 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) any imposed taxes (including any interest and
penalties in respect thereto) payable by the Agent or any of the Lenders (other than taxes based upon the Agent’s or any Lender’s gross or net income, except that the Agent and the Lenders shall be entitled to indemnification for any and
all amounts paid by them in respect of taxes based on income or other taxes assessed by any State in which Mortgaged Property or other Collateral is located, such indemnification to be limited to taxes due solely on account of the granting of
Collateral under the Security Documents and to be net of any credit allowed to the indemnified party from any other State on account of the payment or incurrence of such tax by such indemnified party), including any recording, mortgage, documentary
or intangibles taxes in connection with the Mortgages and other Loan Documents, or other taxes payable on or with respect to the transactions contemplated by this Agreement, including any such taxes payable by the Agent or any of the Lenders after
the Closing Date (the Borrowers hereby agreeing to indemnify the Agent and each Lender with respect thereto), (c) all title insurance premiums, engineer’s fees, environmental reviews and the reasonable fees, expenses and disbursements of
the counsel to the Agent and any local counsel to the Agent incurred in connection with the preparation, administration, or interpretation of the Loan Documents and other instruments mentioned herein, and amendments, modifications, approvals,
consents or waivers hereto or hereunder, (d) the out-of-pocket fees, costs, expenses and disbursements of Agent incurred in connection with the syndication and/or participation of the Loans, (e) all other reasonable out of pocket fees,
expenses and disbursements of the Agent incurred by the Agent in connection with the preparation or interpretation of the Loan Documents and other instruments mentioned herein, the addition or substitution of additional Mortgaged Properties or other
Collateral, the review of leases and Subordination, Attornment and Non-Disturbance Agreements, the making of each advance hereunder, the issuance of Letters of Credit, and the syndication of the Commitments pursuant to §18 (without duplication
of those items addressed in subparagraph (d), above), (f) all out-of-pocket expenses (including attorneys’ fees and costs, and the fees and costs of appraisers, engineers, investment bankers or other experts retained by any Lender or the
Agent) 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 Borrowers or the administration thereof after the occurrence of a Default or Event of
Default and (ii) any litigation, proceeding or dispute whether arising hereunder or otherwise, in any way related to the Agent’s or any of the Lenders’ relationship with the Borrowers (provided that any attorneys fees and costs
pursuant to this clause (f) shall be limited to those incurred by the Agent and one other counsel with respect to the Lenders as a group), (g) all reasonable fees, expenses and disbursements of the Agent incurred in connection with UCC
searches, UCC filings, title rundowns, title searches or mortgage recordings, (h) all reasonable out-of-pocket fees, expenses and disbursements (including reasonable attorneys’ fees and costs) which may be incurred by KeyBank in connection
with the execution and delivery of this Agreement and the other Loan Documents (without duplication of any of the items listed above), and (i) all expenses relating to the use of Intralinks, SyndTrak or any other similar system for the
dissemination and sharing of documents and information in connection with the Loans. The covenants of this §15 shall survive the repayment of the Loans and the termination of the obligations of the Lenders hereunder. 
  

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 §16. INDEMNIFICATION. 
 The Borrowers, jointly and severally, agree to indemnify and hold harmless the Agent, the Lenders and the Arranger and each director, officer, employee, agent and Affiliate thereof and Person who controls the Agent or
any Lender or the Arranger against any and all claims, actions and suits, whether groundless or otherwise, and from and against any and all liabilities, losses, damages and expenses of every nature and character arising out of or relating to this
Agreement or any of the other Loan Documents or the transactions contemplated hereby and thereby including, without limitation, (a) any and all claims for brokerage, leasing, finders or similar fees which may be made relating to the Mortgaged
Properties or the Loans, (b) any condition of the Mortgaged Properties or any other Real Estate, (c) any actual or proposed use by the Borrowers of the proceeds of any of the Loans or Letters of Credit, (d) any actual or alleged
infringement of any patent, copyright, trademark, service mark or similar right of the Borrowers or any of their respective Subsidiaries, (e) the Borrowers entering into or performing this Agreement or any of the other Loan Documents,
(f) any actual or alleged violation of any law, ordinance, code, order, rule, regulation, approval, consent, permit or license relating to the Mortgaged Properties or any other Real Estate, (g) with respect to the Borrowers and their
respective Subsidiaries and their respective properties and assets, the violation of any Environmental Law, the Release or threatened Release of any Hazardous Substances or any action, suit, proceeding or investigation brought or threatened with
respect to any Hazardous Substances (including, but not limited to, claims with respect to wrongful death, personal injury, nuisance or damage to property), and (h) any use of Intralinks, SyndTrak or any other system for the dissemination and
sharing of documents and information, in each case including, without limitation, the reasonable fees and disbursements of counsel incurred in connection with any such investigation, litigation or other proceeding; provided, however,
that the Borrowers shall not be obligated under this §16 to indemnify any Person for liabilities arising from such Person’s own gross negligence or willful misconduct as determined by a court of competent jurisdiction after the exhaustion
of all applicable appeal periods. In litigation, or the preparation therefor, the Lenders and the Agent shall be entitled to select a single law firm as their own counsel and, in addition to the foregoing indemnity, the Borrowers agree to pay
promptly the reasonable fees and expenses of such counsel. If, and to the extent that the obligations of the Borrowers under this §16 are unenforceable for any reason, the Borrowers hereby agree to make the maximum contribution to the payment
in satisfaction of such obligations which is permissible under applicable law. The provisions of this §16 shall survive the repayment of the Loans and the termination of the obligations of the Lenders hereunder. 
 §17. 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 Borrowers or any of their respective Subsidiaries pursuant hereto or
thereto 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, as herein contemplated,
and shall continue in full force and effect so long as any amount due under this Agreement or the Notes or any of the other Loan Documents remains outstanding or any Letters of Credit remain outstanding or any Lender has any obligation to make any
Loans or issue any Letters of Credit. The indemnification 

  

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obligations of the Borrowers provided 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 delivered to any Lender or the Agent at any time by or on behalf of the Borrowers or any of their respective
Subsidiaries pursuant hereto or in connection with the transactions contemplated hereby shall constitute representations and warranties by such Person hereunder. 
 §18. ASSIGNMENT AND PARTICIPATION. 
 §18.1 Conditions to Assignment by Lenders. Except as provided herein, each
Lender may assign to one or more banks or other entities all or a portion 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 and the Notes held by it); provided that (a) the Agent, the Issuing Lender and, so long as no Default or Event of Default exists hereunder, Parent Borrower shall have each given its prior written consent to such
assignment, which consent shall not be unreasonably withheld or delayed (provided that such consent shall not be required for any assignment to another Lender, to a lender or an Affiliate of a Lender which controls, is controlled by or is under
common control with the assigning Lender or to a wholly-owned Subsidiary of such Lender) (b) each such assignment shall be of a constant, and not a varying, percentage of all the assigning Lender’s rights and obligations under this
Agreement with respect to the Revolving Credit Commitment in the event an interest in the Revolving Credit Loans is assigned, or of a constant, and not a varying, percentage of all the assigning Lender’s rights and obligations under this
Agreement with respect to the Term Loan Commitment in the event an interest in the Term Loans is assigned, (c) the parties to such assignment shall execute and deliver to the Agent, for recording in the Register (as hereinafter defined) an
Assignment and Acceptance Agreement in the form of Exhibit K annexed hereto, together with any Notes subject to such assignment, (d) in no event shall any assignment be to any Person controlling, controlled by or under common
control with, or which is not otherwise free from influence or control by, any Borrower or REIT, (e) such assignee of a portion of the Revolving Credit Loans shall have a net worth as of the date of such assignment of not less than
$100,000,000.00 (unless otherwise approved by Agent and, so long as no Default or Event of Default exists hereunder, Parent Borrower), (f) such assignee shall acquire an interest in the Loans of not less than $5,000,000.00 and integral
multiples of $1,000,000.00 in excess thereof (or if less, the remaining Loans of the assignor), unless waived by the Agent, and so long as no Default or Event of Default exists hereunder, Parent Borrower, and (g) such assignee shall be subject
to the terms of any intercreditor agreement among the Lenders and the Agent. Upon execution, delivery, acceptance and recording of such Assignment and Acceptance Agreement, (i) the assignee thereunder shall be a party hereto and all other Loan
Documents executed by the Lenders and, to the extent provided in such Assignment and Acceptance Agreement, have the rights and obligations of a Lender hereunder, (ii) the assigning Lender shall, upon payment to the Agent of the registration fee
referred to in §18.2, be released from its obligations under this Agreement arising after the effective date of such assignment with respect to the assigned portion of its interests, rights and obligations under this Agreement, and
(iii) the Agent may unilaterally amend Schedule 1.1 to reflect such assignment. In connection with each assignment, the assignee shall represent and warrant to the Agent, the assignor and each other Lender as to whether such
assignee is controlling, controlled by, under common control with or is not otherwise free from influence or control by, the Borrowers and REIT. If KeyBank shall be the 

  

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Agent, then unless an Event of Default has occurred and is continuing, KeyBank shall not assign its Commitments if the result would be that KeyBank would
hold a Commitment less than that of any other Lender, excluding any Commitment that a Lender may acquire (x) from another Lender, (y) as a result of an increase in the Revolving Credit Commitments under §2.11, or (z) as a result
of a merger or other combination of Lenders (provided that in no event shall KeyBank be required to have an aggregate Commitment in excess of $75,000,000.00). 
 §18.2 Register. The Agent shall maintain on behalf of the Borrowers a copy of each assignment 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 Borrowers, 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 Borrowers and the Lenders at any reasonable time and from time
to time upon reasonable prior notice. Upon each such recordation, the assigning Lender agrees to pay to the Agent a registration fee in the sum of $3,500.00. 
 §18.3 New Notes. Upon its receipt of an Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note subject to such assignment, the Agent shall record the
information contained therein in the Register. Within five (5) Business Days after receipt of notice of such assignment from Agent, the Borrowers, at their own expense, shall execute and deliver to the Agent, in exchange for each surrendered
Note, a new Note to the order of such assignee in an amount equal to the amount assigned to such assignee pursuant to such Assignment and Acceptance Agreement and, if the assigning Lender has retained some portion of its obligations hereunder, a new
Note 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 Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to
the Borrowers. 
 §18.4 Participations. Each Lender may sell participations to one or more Lenders 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) any such sale or participation shall not affect the rights and duties of the selling Lender hereunder,
(b) such participation shall not entitle such participant to any rights or privileges under this Agreement or any Loan Documents, including without limitation, rights granted to the Lenders under §4.8, §4.9 and §4.10,
(c) such participation shall not entitle the participant to the right to approve waivers, amendments or modifications, (d) such participant shall have no direct rights against the Borrowers, (e) such sale is effected in accordance
with all applicable laws, and (f) such participant shall not be a Person controlling, controlled by or under common control with, or which is not otherwise free from influence or control by any of the Borrowers; provided, however,
such Lender may agree with the participant that it will not, without the consent of the participant, agree to (i) increase, or extend the term or extend the time or waive any requirement for the reduction or termination of, such Lender’s
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on the Loans or portions thereof owing to such Lender (other than pursuant to an extension of the Revolving Credit Maturity Date pursuant to §2.12),
(iii) reduce the amount of any such payment of principal, (iv) reduce the rate at which interest is payable thereon or (v) release any Borrower (except as otherwise permitted under §5.4, §5.6 or §5.7). Any Lender which
sells a participation shall promptly notify the Agent of such sale and the identity of the purchaser of such interest. 
 §18.5
Pledge by Lender. Any Lender may at any time pledge all or any portion of its interest and rights under this Agreement (including all or any portion of its Note) to any of the twelve Federal Reserve Banks organized under §4 of the
Federal Reserve Act, 12 U.S.C. §341 or to such other Person as the Agent may approve to secure obligations of such lenders. No such pledge or the enforcement thereof shall release the pledgor Lender from its obligations hereunder or under any
of the other Loan Documents. 
 §18.6 No Assignment by Borrowers. The Borrowers shall not assign or transfer any of their rights
or obligations under this Agreement without the prior written consent of each of the Lenders. 
 §18.7 Disclosure. Borrowers
agree to promptly cooperate with any Lender in connection with any proposed assignment or participation of all or any portion of its Commitment. The Borrowers agree 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. Each Lender agrees for itself that it shall use reasonable efforts in accordance
with its customary procedures to hold confidential all non-public information obtained from Borrowers that has been identified in writing as confidential by any of them, and shall use reasonable efforts in accordance with its customary procedures to
not disclose such information to any other Person, it being understood and agreed that, notwithstanding the foregoing, a Lender may make (a) disclosures to its participants (provided such Persons are advised of the provisions of this
§18.7), (b) disclosures to its directors, officers, employees, Affiliates, accountants, appraisers, legal counsel and other professional advisors of such Lender (provided that such Persons who are not employees of such Lender are advised
of the provision of this §18.7), (c) disclosures customarily provided or reasonably required by any potential or actual bona fide assignee, transferee or participant or their respective directors, officers, employees, Affiliates,
accountants, appraisers, legal counsel and other professional advisors in connection with a potential or actual assignment or transfer by such Lender of any Loans or any participations therein (provided such Persons are advised of the provisions of
this §18.7), (d) disclosures to bank regulatory authorities or self-regulatory bodies with jurisdiction over such Lender, or (e) disclosures required or requested by any other governmental authority or representative thereof or
pursuant to legal process; provided that, unless specifically prohibited by applicable law or court order, each Lender shall notify Borrowers of any request by any governmental authority or representative thereof prior to disclosure (other than any
such request in connection with any examination of such Lender by such government authority) for disclosure of any such non-public information prior to disclosure of such information. In addition, each Lender may make disclosure of such information
to any contractual counterparty in swap agreements or such contractual counterparty’s professional advisors (so long as such contractual counterparty or professional advisors agree to be bound by the provisions of this §18.7). Non-public
information shall not include any information which is or subsequently becomes publicly available other than as a 

  

 114 

 
result of a disclosure of such information by a Lender, or prior to the delivery to such Lender is within the possession of such Lender if such information
is not known by such Lender to be subject to another confidentiality agreement with or other obligations of secrecy to the Borrowers, or is disclosed with the prior approval of Borrowers. Nothing herein shall prohibit the disclosure of non-public
information to the extent necessary to enforce the Loan Documents. 
 §18.8 Amendments to Loan Documents. Upon any such
assignment or participation, the Borrowers shall, upon the request of the Agent, enter into such documents as may be reasonably required by the Agent to modify the Loan Documents to reflect such assignment or participation. 
 §18.9 Titled Agents. The Titled Agents shall not have any additional rights or obligations under the Loan Documents, except for those rights,
if any, as a Lender. 
 §19. NOTICES. 
 Each
notice, demand, election or request provided for or permitted to be given pursuant to this Agreement (hereinafter in this §19 referred to as “Notice”), but specifically excluding to the maximum extent permitted by law any notices of
the institution or commencement of foreclosure proceedings, must be in writing and shall be deemed to have been properly given or served by personal delivery or by sending same by overnight courier or by depositing same in the United States Mail,
postpaid and registered or certified, return receipt requested, or as expressly permitted herein, by telegraph, telecopy, telefax or telex, and addressed as follows: 
 If to the Agent or KeyBank: 
 KeyBank National Association 
 800 Superior 
 Cleveland, Ohio 44114-1306

 Attn: Real Estate Capital Services 
 With a copy to: 
 KeyBank National Association 
 127 Public Square 
 Cleveland, Ohio 44114-1306 
 Attn: Mr. John C. Scott 
 Telecopy
No.: (216) 689-4997 
 and 
 McKenna Long & Aldridge LLP 
 Suite 5300 
 303 Peachtree Street, N.E. 
 Atlanta, Georgia 30308 
 Attn: William F. Timmons, Esq. 
 Telecopy No.:
(404) 527-4198 
  

 115 

 If to the Borrowers: 
 c/o Safari Ventures LLC 
 1212 New York Avenue, N.W. 
 Suite 900 
 Washington, DC 20005 

Attn: Hossein Fateh 
 Telecopy No.:
(202) 728-0220 
 With a copy to: 
 Cooley, Godward & Kronish LLP 
 One Freedom Square 
 11951 Freedom Drive 
 Reston, Virginia 20190

 Attn: John H. Toole, Esq. 
 Telecopy No.: (703) 456-8100 
 to any other Lender which is a party hereto, at the address for such Lender set forth on its signature page
hereto, and to any Lender which may hereafter become a party to this Agreement, at such address as may be designated by such Lender. Each Notice shall be effective upon being personally delivered or upon being sent by overnight courier or upon being
deposited in the United States Mail as aforesaid, or if transmitted by telegraph, telecopy, telefax or telex is permitted, upon being sent and confirmation of receipt. The time period in which a response to such Notice must be given or any action
taken with respect thereto (if any), however, shall commence to run from the date of receipt if personally delivered or sent by overnight courier, or if so deposited in the United States Mail, the earlier of three (3) Business Days following
such deposit or the date of receipt as disclosed on the return receipt. Rejection or other refusal to accept or the inability to deliver because of changed address for which no notice was given shall be deemed to be receipt of the Notice sent. By
giving at least fifteen (15) days prior Notice thereof, Borrowers, a Lender or Agent shall have the right from time to time and at any time during the term of this Agreement to change their respective addresses and each shall have the right to
specify as its address any other address within the United States of America. 
 §20. RELATIONSHIP. 
 Neither the Agent nor any Lender has any fiduciary relationship with or fiduciary duty to the Borrowers or their respective Subsidiaries arising out of or
in connection with this Agreement or the other Loan Documents or the transactions contemplated hereunder and thereunder, and the relationship between each Lender and Agent, and the Borrowers is solely that of a lender and borrower, and nothing
contained herein or in any of the other Loan Documents shall in any manner be construed as making the parties hereto partners, joint venturers or any other relationship other than lender and borrower. 
  

 116 

 §21. GOVERNING LAW; CONSENT TO JURISDICTION AND SERVICE. 
 THIS AGREEMENT AND EACH OF THE OTHER LOAN DOCUMENTS, EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED HEREIN OR THEREIN, SHALL, PURSUANT TO NEW YORK GENERAL
OBLIGATIONS LAW SECTION 5-1401, BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. THE BORROWERS AGREE THAT ANY SUIT FOR THE ENFORCEMENT OF THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS MAY BE BROUGHT IN ANY COURT OF COMPETENT JURISDICTION IN THE
STATE OF NEW YORK (INCLUDING ANY FEDERAL COURT SITTING THEREIN). THE BORROWERS FURTHER ACCEPT, GENERALLY AND UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF SUCH COURTS AND ANY RELATED APPELLATE COURT AND IRREVOCABLY (i) AGREE TO BE BOUND BY
ANY JUDGMENT RENDERED THEREBY WITH RESPECT TO THIS AGREEMENT AND ANY OF THE OTHER LOAN DOCUMENTS AND (ii) WAIVE ANY OBJECTION ANY OF THEM MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH A
COURT IS AN INCONVENIENT FORUM. THE BORROWERS FURTHER AGREE THAT SERVICE OF PROCESS IN ANY SUCH SUIT MAY BE MADE UPON THE BORROWERS BY MAIL AT THE ADDRESS SPECIFIED IN SECTION 19 HEREOF. IN ADDITION TO THE COURTS OF THE STATE OF NEW YORK OR ANY
FEDERAL COURT SITTING THEREIN, THE AGENT OR ANY LENDER MAY BRING ACTION(S) FOR ENFORCEMENT ON A NONEXCLUSIVE BASIS WHERE ANY COLLATERAL OR ASSETS OF BORROWERS EXIST AND THE BORROWERS CONSENT TO THE NONEXCLUSIVE JURISDICTION OF SUCH COURTS AND THE
SERVICE OF PROCESS IN ANY SUCH SUIT BEING MADE UPON THE BORROWERS BY MAIL AT THE ADDRESS SPECIFIED IN SECTION 19 HEREOF. 
 §22. HEADINGS.

 The captions in this Agreement are for convenience of reference only and shall not define or limit the provisions hereof. 
 §23. 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. 
 §24. ENTIRE
AGREEMENT, ETC. 
 This Agreement and the Loan Documents is intended by the parties as the final, complete and exclusive statement of the
transactions evidenced by this Agreement and the Loan Documents. All prior or contemporaneous promises, agreements and understandings, whether oral or written, are deemed to be superseded by this Agreement and the Loan Documents, and no 

  

 117 

 
party is relying on any promise, agreement or understanding not set forth in this Agreement and the Loan Documents. Neither this Agreement nor any term
hereof may be changed, waived, discharged or terminated, except as provided in §27. 
 §25. WAIVER OF JURY TRIAL AND CERTAIN DAMAGE CLAIMS.

 EACH OF THE BORROWERS, THE AGENT AND THE LENDERS HEREBY WAIVES ITS RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT
OF ANY DISPUTE IN CONNECTION WITH THIS AGREEMENT, ANY NOTE OR ANY OF THE OTHER LOAN DOCUMENTS, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THEREUNDER OR THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS. EACH BORROWER HEREBY WAIVES ANY RIGHT IT MAY HAVE TO
CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES AND TO THE EXTENT PERMITTED BY APPLICABLE LAW, PUNITIVE OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. EACH BORROWER (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 IN THIS §25. EACH BORROWER ACKNOWLEDGES THAT IT HAS HAD AN
OPPORTUNITY TO REVIEW THIS §25 WITH LEGAL COUNSEL AND THAT EACH BORROWER AGREES TO THE FOREGOING AS ITS FREE, KNOWING AND VOLUNTARY ACT. 
 §26. DEALINGS WITH THE BORROWERS. 
 The Agent, the Lenders and their affiliates may accept deposits from, extend credit to,
invest in, act as trustee under indentures of, serve as financial advisor of, and generally engage in any kind of banking, trust or other business with the Borrowers and their respective Subsidiaries or any of their Affiliates regardless of the
capacity of the Agent or the Lender hereunder. The Lenders acknowledge that, pursuant to such activities, KeyBank or its Affiliates may receive information regarding such Persons (including information that may be subject to confidentiality
obligations in favor of such Person) and acknowledge that the Agent shall be under no obligation to provide such information to them. 
 §27. 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 other instrument related hereto or mentioned herein may be amended, and the performance or observance by the Borrowers of any terms of this Agreement or such other instrument 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 

  

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Required Lenders. Notwithstanding the foregoing, none of the following may occur without the written consent of each Lender: (a) a reduction in the rate
of interest on the Notes (other than a reduction or waiver of default interest); (b) an increase in the amount of the Commitments of the Lenders (except as provided in §2.11 and §18.1); (c) a forgiveness, reduction or waiver of
the principal of any unpaid Loan or any interest thereon or fee payable under the Loan Documents; (d) a change in the amount of any fee payable to a Lender hereunder; (e) the postponement of any date fixed for any payment of principal of
or interest on the Loan; (f) an extension of the Revolving Credit Maturity Date (except as provided in §2.12) or the Term Loan Maturity Date; (g) a change in the manner of distribution of any payments to the Lenders or the Agent;
(h) the release of any Borrower or any Collateral except as otherwise provided in §5.4, §5.6 or §5.7; (i) an amendment of the definition of Majority Revolving Credit Lenders, Required Lenders or of any requirement for
consent by all of the Lenders; (j) any modification to require a Lender to fund a pro rata share of a request for an advance of the Loan made by the Borrowers other than based on its Commitment Percentage; (k) an amendment to this
§27; or (l) an amendment of any provision of this Agreement or the Loan Documents which requires the approval of all of the Lenders, the Majority Revolving Credit Lenders or the Required Lenders to require a lesser number of Lenders to
approve such action. The provisions of §14 may not be amended without the written consent of the Agent. There shall be no amendment, modification or waiver of any provision in the Loan Documents with respect to Swing Loans without the consent
of the Swing Loan Lender, nor any amendment, modification or waiver of any provision in the Loan Documents with respect to Letters of Credit without the consent of the Issuing Lender. The Borrowers agree to enter into such modifications or
amendments of this Agreement or the other Loan Documents as reasonably may be requested by KeyBank in connection with the syndication of the Loan, provided that no such amendment or modification materially affects or increases any of the
obligations of the Borrowers hereunder. 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 any Lender in exercising
any right shall operate as a waiver thereof or otherwise be prejudicial thereto. No notice to or demand upon any of the Borrowers shall entitle the Borrowers to other or further notice or demand in similar or other circumstances. 
 §28. 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. 
 §29. TIME OF THE ESSENCE. 
 Time is of the essence with respect to each and every covenant, agreement
and obligation of the Borrowers under this Agreement and the other Loan Documents. 
  

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 §30. NO UNWRITTEN AGREEMENTS. 
 THE LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL
AGREEMENTS BETWEEN THE PARTIES. ANY ADDITIONAL TERMS OF THE AGREEMENT BETWEEN THE PARTIES ARE SET FORTH BELOW. 
 §31. REPLACEMENT NOTES.

 Upon receipt of evidence reasonably satisfactory to Borrowers of the loss, theft, destruction or mutilation of any Note, and in the case of
any such loss, theft or destruction, upon delivery of an indemnity agreement reasonably satisfactory to Borrowers or, in the case of any such mutilation, upon surrender and cancellation of the applicable Note, Borrowers will execute and deliver, in
lieu thereof, a replacement Note, identical in form and substance to the applicable Note and dated as of the date of the applicable Note and upon such execution and delivery all references in the Loan Documents to such Note shall be deemed to refer
to such replacement Note. 
 §32. NO THIRD PARTIES BENEFITED. 
 This Agreement and the other Loan Documents are made and entered into for the sole protection and legal benefit of the Borrowers, the Lenders, the Agent, the Lender Hedge Providers and their permitted successors and
assigns, and no other Person shall be a direct or indirect legal beneficiary of, or have any direct or indirect cause of action or claim in connection with, this Agreement or any of the other Loan Documents. All conditions to the performance of the
obligations of the Agent and the Lenders under this Agreement, including the obligation to make Loans and issue Letters of Credit, are imposed solely and exclusively for the benefit of the Agent and the Lenders and no other Person shall have
standing to require satisfaction of such conditions in accordance with their terms or be entitled to assume that the Agent and the Lenders will refuse to make Loans or issue Letters of Credit in the absence of strict compliance with any or all
thereof and no other Person shall, under any circumstances, be deemed to be a beneficiary of such conditions, any and all of which may be freely waived in whole or in part by the Agent and the Lenders at any time if in their sole discretion they
deem it desirable to do so. In particular, the Agent and the Lenders make no representations and assume no obligations as to third parties concerning the quality of the construction by the Borrowers or any of their Subsidiaries of any development or
the absence therefrom of defects. 
 §33. PATRIOT ACT. 
 Each Lender and the Agent (for itself and not on behalf of any Lender) hereby notifies Borrowers that, pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information that
identifies Borrowers, which information includes names and addresses and other information that will allow such Lender or the Agent, as applicable, to identify Borrowers in accordance with the Patriot Act. 
  

 120 

 §34. [Intentionally Omitted.] 
 §35. JOINT AND SEVERAL LIABILITY. 
 Each of the Borrowers covenants and agrees that each and every covenant and obligation of
any Borrower hereunder and under the other Loan Documents shall be the joint and several obligations of each Borrower. 
 §36. ADDITIONAL AGREEMENTS
CONCERNING OBLIGATIONS OF BORROWERS 
 §36.1 Attorney-in-Fact. For the purpose of implementing the joint borrower provisions of
the Loan Documents, the Borrowers hereby irrevocably appoint each other as their agent and attorney-in-fact for all purposes of the Loan Documents, including the giving and receiving of notices and other communications. 
 §36.2 Accommodation. It is understood and agreed that the handling of this credit facility on a joint borrowing basis as set forth in this
Agreement is solely as an accommodation to the Borrowers and at their request. Accordingly, the Agent and the Lenders are entitled to rely, and shall be exonerated from any liability for relying upon, any Loan Request or Letter of Credit Request or
any other request or communication made by a purported officer of any Borrower without the need for any consent or other authorization of any other Borrower and upon any information or certificate provided on behalf of any Borrower by a purported
officer of such Borrower, and any such request or other action shall be fully binding on each Borrower as if made by it. 
 §36.3
Waiver of Automatic or Supplemental Stay. Each of the Borrowers represents, warrants and covenants to the Lenders and Agent that in the event of the filing of any voluntary or involuntary petition in bankruptcy by or against the other of the
Borrowers at any time following the execution and delivery of this Agreement, none of the Borrowers shall seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to Section 105 of the Bankruptcy Code or any other
provision of the Bankruptcy Code, to stay, interdict, condition, reduce or inhibit the ability of the Lenders or Agent to enforce any rights it has by virtue of this Agreement, the Loan Documents, or at law or in equity, or any other rights the
Lenders or Agent has, whether now or hereafter acquired, against the other Borrowers or against any property owned by such other Borrowers. 
 §36.4 Waiver of Defenses. Each of the Borrowers hereby waives and agrees not to assert or take advantage of any defense based upon: 
 (a) Any right to require Agent or the Lenders to proceed against the other Borrowers or any other Person or to proceed against or exhaust any security held by Agent or the Lenders at any time or to pursue any other
remedy in Agent’s or any Lender’s power or under any other agreement before proceeding against a Borrower hereunder or under any other Loan Document; 
 (b) The defense of the statute of limitations in any action hereunder or the payment or performance of any of the Obligations; 
  

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 (c) Any defense that may arise by reason of the incapacity, lack of authority, death or disability of any
other Person or Persons or the failure of Agent or any Lender to file or enforce a claim against the estate (in administration, bankruptcy or any other proceeding) of any other Person or Persons; 
 (d) Any failure on the part of Agent or any Lender to ascertain the extent or nature of any Collateral or any insurance or other rights with respect
thereto, or the liability of any party liable under the Loan Documents or the obligations evidenced or secured thereby; 
 (e) Demand,
presentment for payment, notice of nonpayment, protest, notice of protest and all other notices of any kind (except for such notices as are specifically required to be provided to Borrowers pursuant to the Loan Documents), or the lack of any
thereof, including, without limiting the generality of the foregoing, notice of the existence, creation or incurring of any new or additional indebtedness or obligation or of any action or non-action on the part of any Borrower, Agent, any Lender,
any endorser or creditor of Borrowers or on the part of any other Person whomsoever under this or any other instrument in connection with any obligation or evidence of indebtedness held by Agent or any Lender; 
 (f) Any defense based upon an election of remedies by Agent or any Lender, including any election to proceed by judicial or nonjudicial foreclosure of
any security, whether real property or personal property security, or by deed in lieu thereof, and whether or not every aspect of any foreclosure sale is commercially reasonable, or any election of remedies, including remedies relating to real
property or personal property security, which destroys or otherwise impairs the subrogation rights of a Borrower or the rights of a Borrower to proceed against the other Borrowers for reimbursement, or both; 
 (g) Any right or claim of right to cause a marshaling of the assets of Borrowers; 
 (h) Any principle or provision of law, statutory or otherwise, which is or might be in conflict with the terms and provisions of this Agreement;

 (i) Any duty on the part of Agent or any Lender to disclose to Borrowers any facts Agent or any Lender may now or hereafter know about
Borrowers or the Collateral, regardless of whether Agent or any Lender has reason to believe that any such facts materially increase the risk beyond that which each Borrower intends to assume or has reason to believe that such facts are unknown to
Borrowers or has a reasonable opportunity to communicate such facts to Borrowers, it being understood and agreed that each Borrower is fully responsible for being and keeping informed of the financial condition of the other Borrowers, of the
condition of the Mortgaged Property or the Collateral and of any and all circumstances bearing on the risk that liability may be incurred by Borrowers hereunder and under the other Loan Documents; 
 (j) Any lack of notice of disposition or of manner of disposition of any Collateral; 
 (k) Any inaccuracy of any representation or other provision contained in any Loan Document; 
  

 122 

 (l) Any sale or assignment of the Loan Documents, or any interest therein; 
 (m) Any sale or assignment by a Borrower or any other Person of any Collateral, or any portion thereof or interest therein, whether or not consented to
by Agent or any Lender; 
 (n) Any invalidity, irregularity or unenforceability, in whole or in part, of any one or more of the Loan
Documents; 
 (o) Any lack of commercial reasonableness in dealing with the Collateral; 
 (p) Any deficiencies in the Collateral or any deficiency in the ability of Agent or any Lender to collect or to obtain performance from any Persons now
or hereafter liable for the payment and performance of any obligation hereby guaranteed; 
 (q) An assertion or claim that the automatic stay
provided by 11 U.S.C. §362 (arising upon the voluntary or involuntary bankruptcy proceeding of the other Borrowers) or any other stay provided under any other debtor relief law (whether statutory, common law, case law or otherwise) of any
jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, shall operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Agent or any Lender to enforce any of its rights, whether now or
hereafter required, which Agent or any Lender may have against a Borrower or the Collateral owned by it; 
 (r) Any modifications of the Loan
Documents or any obligation of Borrowers relating to the Loan by operation of law or by action of any court, whether pursuant to the Bankruptcy Code, or any other debtor relief law (whether statutory, common law, case law or otherwise) of any
jurisdiction whatsoever, now or hereafter in effect, or otherwise; 
 (s) Any release of a Borrower or of any other Person from performance
or observance of any of the agreements, covenants, terms or conditions contained in any of the Loan Documents by operation of law, Agent’s or the Lenders’ voluntary act or otherwise; 
 (t) Any action, occurrence, event or matter consented to by Borrowers under any provision hereof, or otherwise; 
 (u) The dissolution or termination of existence of any Borrower; 
 (v) Either with or without notice to Borrowers, any renewal, extension, modification, amendment or another changes in the Obligations, including but not limited to any material alteration of the terms of payment or
performance of the Obligations; 
 (w) Any defense of Borrowers, including without limitation, the invalidity, illegality or unenforceability
of any of the Obligations; or 
 (x) To the fullest extent permitted by law, any other legal, equitable or surety defenses whatsoever to
which Borrowers might otherwise be entitled, it being the intention that the obligations of Borrowers hereunder are absolute, unconditional and irrevocable. 
  

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 §36.5 Waiver. Each of the Borrowers waives, to the fullest extent that each may lawfully so
do, the benefit of all appraisement, valuation, stay, extension, homestead, exemption and redemption laws which such Person may claim or seek to take advantage of in order to prevent or hinder the enforcement of any of the Loan Documents or the
exercise by Lenders or Agent of any of their respective remedies under the Loan Documents and, to the fullest extent that the Borrowers may lawfully so do, such Person waives any and all right to have the assets comprised in the security intended to
be created by the Security Documents (including, without limitation, those assets owned by the other of the Borrowers) marshaled upon any foreclosure of the lien created by such Security Documents. Each of the Borrowers further agrees that the
Lenders and Agent shall be entitled to exercise their respective rights and remedies under the Loan Documents or at law or in equity in such order as they may elect. Without limiting the foregoing, each of the Borrowers further agrees that upon the
occurrence of an Event of Default, the Lenders and Agent may exercise any of such rights and remedies without notice to either of the Borrowers except as required by law or the Loan Documents and agrees that neither the Lenders nor Agent shall be
required to proceed against the other of the Borrowers or any other Person or to proceed against or to exhaust any other security held by the Lenders or Agent at any time or to pursue any other remedy in Lender’s or Agent’s power or under
any of the Loan Documents before proceeding against a Borrower or its assets under the Loan Documents. 
 §36.6 Subordination.
Except as set forth in the Contribution Agreement, each of the Borrowers hereby expressly waives any right of contribution from or indemnity against the other, whether at law or in equity, arising from any payments made by such Person pursuant to
the terms of this Agreement or the Loan Documents, and each of the Borrowers acknowledges that it has no right whatsoever to proceed against the other for reimbursement of any such payments. In connection with the foregoing, each of the Borrowers
expressly waives any and all rights of subrogation to the Lenders or Agent against the other of the Borrowers, and each of the Borrowers hereby waives any rights to enforce any remedy which the Lenders or Agent may have against the other of the
Borrowers and any rights to participate in any Collateral or any other assets of the other Borrowers. In addition to and without in any way limiting the foregoing, each of the Borrowers hereby subordinates any and all indebtedness it may now or
hereafter owe to such other Borrowers to all indebtedness of the Borrowers to the Lenders and Agent, and agrees with the Lenders and Agent that neither of the Borrowers shall claim any offset or other reduction of such Borrower’s obligations
hereunder because of any such indebtedness and shall not take any action to obtain any of the Collateral or any other assets of the other Borrowers. 
 §37. INVESTOR GUARANTIES. 
 As an accommodation to Borrowers, the Agent and the Lenders have agreed to accept from time to
time, upon the request of Borrowers, guaranties from certain Persons who owned an interest in the Mortgaged Properties immediately prior to the closing of the transactions contemplated by this Agreement (such Persons are hereinafter referred to as
the “Investor Guarantors”, and such guaranties are hereinafter referred to as the “Investor Guaranties”); provided that the aggregate principal amount of the Obligations guaranteed by the Investor Guarantors shall not exceed
$200,000,000.00. Each of the Borrowers acknowledges and agrees that each of the representations, covenants, agreements and waivers of the Borrowers set forth in §36 shall apply equally and with the same force and effect to the Investor
Guarantors and the 

  

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Investor Guaranties as such provisions apply and relate to each of the Borrowers and the Loan Documents. Without limiting the foregoing, no event or
circumstance which shall occur with respect to any of such Investor Guarantors, nor any act or omission by Agent or any of the Lenders with respect to any of the Investor Guarantors or the Investor Guaranties, shall in any event limit, impair or
otherwise affect the liability of the Borrowers to the Agent and the Lenders under this Agreement and the other Loan Documents, and the Borrowers hereby waive and agree not to assert or take advantage of any defense based thereon. Agent may at any
time in its sole discretion release any Investor Guarantor from its Investor Guaranty without affecting the liability of Borrowers under the Loan Documents. 
 §38. CONSOLIDATION, AMENDMENT AND RESTATEMENT OF ORIGINAL NOTES. 
 By execution of this Agreement, the Original Notes are being
consolidated, amended, restated and bifurcated into the Revolving Credit Notes and the Term Loan Notes delivered as of the date of this Agreement having an aggregate principal face amount of $475,000,000.00. 
 [continued on next page] 
  

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 IN WITNESS WHEREOF, each of the undersigned have caused this Agreement to be executed by its duly
authorized representatives as of the date first set forth above. 
  

									
	PARENT BORROWER:
	
	SAFARI VENTURES LLC, a Delaware limited liability company
			
		 	By:	 	 Eden Management LLC, a Delaware limited
 liability company, its Managing Member

				
		 		 	By:	 	Panda Interests LLC,
		 		 		 	 a Virginia limited liability company,
 its
Managing Member

					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Lammot J. du Pont
		 		 		 	Title:	 	Manager
	
	(SEAL)
	
	SUBSIDIARY BORROWERS:
	
	RHINO EQUITY LLC, a Delaware limited liability company
		
	 By:
	 	Safari Ventures LLC, a Delaware limited liability company, its Managing Member
			
		 	 By:
	 	Eden Management LLC, a Delaware limited liability company, its Managing Member
				
		 		 	By:	 	Panda Interests LLC,
		 		 		 	 a Virginia limited liability company,
 its
Managing Member

					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Lammot J. du Pont
		 		 		 	Title:	 	Manager
	
	(SEAL)

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 
  

 126 

 [SIGNATURES CONTINUED FROM PREVIOUS PAGE] 
  

											
	QUILL EQUITY LLC, a Delaware limited liability company
			
		 	By:	 	Safari Ventures LLC, a Delaware limited liability company, its Managing Member
				
		 		 	By:	 	Eden Management LLC, a Delaware limited liability company, its Managing Member
					
		 		 		 	By:	 	Panda Interests LLC,
		 		 		 		 	a Virginia limited liability company,
		 		 		 		 	its Managing Member
						
		 		 		 		 	By:	 	  

		 		 		 		 	Name:	 	Lammot J. du Pont
		 		 		 		 	Title:	 	Manager
						
		 		 		 		 		 	(SEAL)

  

 127 

									
	 LEMUR PROPERTIES LLC, a Delaware limited
 liability company

		
	By:	 	Safari Ventures LLC, a Delaware limited liability company, its Managing Member
			
		 	By:	 	Eden Management LLC, a Delaware limited liability company, its Managing Member
				
		 		 	By:	 	Panda Interests LLC,
		 		 		 	a Virginia limited liability company,
		 		 		 	its Managing Member
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Lammot J. du Pont
		 		 		 	Title:	 	Manager
	
	(SEAL)
	
	 PORPOISE VENTURES LLC, a Delaware
 limited liability company

		
	By:	 	 Safari Ventures LLC, a Delaware limited
 liability company, its Managing Member

			
		 	By:	 	Eden Management LLC, a Delaware limited liability company, its Managing Member
				
		 		 	By:	 	Panda Interests LLC,
		 		 		 	a Virginia limited liability company,
		 		 		 	its Managing Member
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Lammot J. du Pont
		 		 		 	Title:	 	Manager
	
	(SEAL)

  

 128 

			
	AGENT AND LENDERS:
	
	KEYBANK NATIONAL ASSOCIATION, individually and as Agent
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 129 

			
	UBS LOAN FINANCE LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	 UBS Loan Finance LLC
 677 Washington
Boulevard
 Stamford, CT 06901
	 		 		  	
	Attention:	 	Brian Gross	 		 		  	
	Telephone:	 	203-719-2814	 		 		  	
	Facsimile:	 	203-719-3888	 		 		  	

  

 130 

			
	LEHMAN BROTHERS COMMERCIAL BANK,
	individually and as Co-Syndication Agent
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	Lehman Brothers	 		 		  	
	745 7th Avenue	 		 		  	
	5th Floor	 		 		  	
	New York, NY 10019	 		 		  	
	Attention:	 	Janine Shugan	 		 		  	
	Telephone:	 	212-526-8625	 		 		  	
	Facsimile:	 	917-522-0139	 		 		  	

  

 131 

			
	BANK OF AMERICA, N.A.,
	individually and as Documentation Agent
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	Bank of America, N.A.	 		 		  	
	8300 Greensboro Drive	 		 		  	
	Suite 300	 		 		  	
	McLean, VA 22102	 		 		  	
	Attention:	 	Mei Li	 		 		  	
	Telephone:	 	703-761-8129	 		 		  	
	Facsimile:	 	703-761-8160	 		 		  	

  

 132 

			
	CITICORP NORTH AMERICA, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	Citicorp North America, Inc.	 		  		  	
	390 Greenwich Street	 		  		  	
	1st Floor	 		  		  	
	New York, NY 11375	 		  		  	
	Attention:	 	Rita Lai	 		  		  	
	Telephone:	 	212-723-5931	 		  		  	
	Facsimile:	 	646-291-1630	 		  		  	

  

 133 

			
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	Wachovia Bank, National Association	 		  		  	
	301 S. College Street, 16th Floor	 		  		  	
	NC0172	 		  		  	
	Charlotte, NC 28288	 		  		  	
	Attention:	 	Amit Khimji / Will Steubing	 		  		  	
	Telephone:	 	704-715-1347 / 704-715-7237	 		  		  	
	Facsimile:	 	704-715-0065	 		  		  	

  

 134 

			
	CHARTER ONE BANK, N.A.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	 Charter One Bank, N.A.
 1215 Superior Avenue

	 		  		  	
	6th Floor	 		  		  	
	Cleveland, OH 44114	 		  		  	
	Attention:	 	Florentina Djulvezan	 		  		  	
	Telephone:	 	216-277-0694	 		  		  	
	Facsimile:	 	216-277-4607	 		  		  	

  

 135 

			
	 RAYMOND JAMES BANK, FSB

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	Raymond James Bank, FSB	 		  		  	
	710 Carillon Parkway	 		  		  	
	St. Petersburg, FL 33716	 		  		  	
	Attention:	 	Loan Ops/CML	 		  		  	
	Telephone:	 	727-567-1815	 		  		  	
	Facsimile:	 	727-567-8830	 		  		  	

  

 136 

			
	 SOVEREIGN BANK

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	Sovereign Bank	 		  		  	
	75 State Street	 		  		  	
	MA1 SST 04-11	 		  		  	
	Boston, MA 02109	 		  		  	
	Attention:	 	T. Gregory Donohue	 		  		  	
	Telephone:	 	617-757-5578	 		  		  	
	Facsimile:	 	617-757-5652	 		  		  	

  

 137 

			
	NATIONAL CITY BANK
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	National City Bank	 		  		  	
	2000 Auburn Drive	 		  		  	
	Suite 400	 		  		  	
	Beachwood, OH 44122	 		  		  	
	Attention:	 	Sean Apicella	 		  		  	
	Telephone:	 	216-488-3687	 		  		  	
	Facsimile:	 	216-488-3160	 		  		  	

  

 138 

			
	ALLIED IRISH BANKS, p.l.c.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	Allied Irish Banks, p.l.c.	 		  		  	
	405 Park Avenue	 		  		  	
	New York, NY 10022	 		  		  	
	Attention:	 	Doug Marron / Laura Baker	 		  		  	
	Telephone:	 	212-515-6762 / 212-339-8052	 		  		  	
	Facsimile:	 	212-339-8325	 		  		  	

  

 139 

			
	MIDFIRST BANK, a federally chartered savings association
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

									
	MidFirst Bank	 		  		  	
	501 NW Grand Boulevard	 		  		  	
	First Floor	 		  		  	
	Oklahoma City, OK 73118	 		  		  	
	Attention:	 	Todd Wright	 		  		  	
	Telephone:	 	405-767-7108	 		  		  	
	Facsimile:	 	405-767-7119	 		  		  	

  

 140 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	 	  	Page
	§1.	 	DEFINITIONS AND RULES OF INTERPRETATION	  	1
				
		 	§1.1	  	 Definitions
	  	1
				
		 	§1.2	  	 Rules of Interpretation
	  	27
			
	§2.	 	THE CREDIT FACILITY	  	28
				
		 	§2.1	  	 Revolving Credit Loans
	  	28
				
		 	§2.2	  	 Commitment to Lend Term Loan
	  	29
				
		 	§2.3	  	 Facility Unused Fee
	  	29
				
		 	§2.4	  	 Reduction and Termination of the Revolving Credit Commitments
	  	30
				
		 	§2.5	  	 Swing Loan Commitment
	  	30
				
		 	§2.6	  	 Interest on Loans
	  	33
				
		 	§2.7	  	 Requests for Revolving Credit Loans
	  	33
				
		 	§2.8	  	 Funds for Loans
	  	34
				
		 	§2.9	  	 Use of Proceeds
	  	35
				
		 	§2.10	  	 Letters of Credit
	  	35
				
		 	§2.11	  	 Increase in Total Revolving Credit Commitment
	  	38
				
		 	§2.12	  	 Extension of Revolving Credit Maturity Date
	  	41
				
		 	§2.13	  	 Reduction of Revolving Credit Commitment Upon Failure to Occur of Capital Event
	  	41
			
	§3.	 	REPAYMENT OF THE LOANS	  	42
				
		 	§3.1	  	 Stated Maturity
	  	42
				
		 	§3.2	  	 Mandatory Prepayments
	  	42
				
		 	§3.3	  	 Optional Prepayments
	  	42
				
		 	§3.4	  	 Partial Prepayments
	  	43
				
		 	§3.5	  	 Additional Principal Payments
	  	43
				
		 	§3.6	  	 Effect of Prepayments
	  	44
				
		 	§4.	  	 CERTAIN GENERAL PROVISIONS
	  	45
				
		 	§4.1	  	 Conversion Options
	  	45
				
		 	§4.2	  	 Fees
	  	45
				
		 	§4.3	  	 [Intentionally Omitted.]
	  	46
				
		 	§4.4	  	 Funds for Payments
	  	46

  

 i 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
		  	§4.5	  	 Computations
	  	47
				
		  	§4.6	  	 Suspension of LIBOR Rate Loans
	  	48
				
		  	§4.7	  	 Illegality
	  	48
				
		  	§4.8	  	 Additional Interest
	  	48
				
		  	§4.9	  	 Additional Costs, Etc.
	  	49
				
		  	§4.10	  	 Capital Adequacy
	  	50
				
		  	§4.11	  	 Breakage Costs
	  	50
				
		  	§4.12	  	 Default Interest; Late Charge
	  	50
				
		  	§4.13	  	 Certificate
	  	50
				
		  	§4.14	  	 Limitation on Interest
	  	50
				
		  	§4.15	  	 Certain Provisions Relating to Increased Costs and Non-Funding Lenders
	  	51
			
	§5.	  	COLLATERAL SECURITY	  	52
				
		  	§5.1	  	 Collateral
	  	52
				
		  	§5.2	  	 Appraisals; Adjusted Value
	  	52
				
		  	§5.3	  	 Addition of Mortgaged Properties
	  	53
				
		  	§5.4	  	 Release of Mortgaged Property
	  	55
				
		  	§5.5	  	 Additional Subsidiary Borrowers
	  	56
				
		  	§5.6	  	 Release of Certain Subsidiary Borrowers
	  	56
				
		  	§5.7	  	 Release of Collateral
	  	56
			
	§6.	  	REPRESENTATIONS AND WARRANTIES	  	56
				
		  	§6.1	  	 Corporate Authority, Etc.
	  	56
				
		  	§6.2	  	 Governmental Approvals
	  	57
				
		  	§6.3	  	 Title to Properties
	  	57
				
		  	§6.4	  	 Financial Statements
	  	58
				
		  	§6.5	  	 No Material Changes
	  	58
				
		  	§6.6	  	 Franchises, Patents, Copyrights, Etc.
	  	58
				
		  	§6.7	  	 Litigation
	  	58
				
		  	§6.8	  	 No Material Adverse Contracts, Etc.
	  	59
				
		  	§6.9	  	 Compliance with Other Instruments, Laws, Etc.
	  	59
				
		  	§6.10	  	 Tax Status
	  	59

  

 ii 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
		  	§6.11	  	 No Event of Default
	  	59
				
		  	§6.12	  	 Investment Company Act
	  	59
				
		  	§6.13	  	 Absence of UCC Financing Statements, Etc.
	  	59
				
		  	§6.14	  	 Setoff, Etc.
	  	60
				
		  	§6.15	  	 Certain Transactions
	  	60
				
		  	§6.16	  	 Employee Benefit Plans
	  	60
				
		  	§6.17	  	 Disclosure
	  	60
				
		  	§6.18	  	 Trade Name; Place of Business
	  	61
				
		  	§6.19	  	 Regulations T, U and X
	  	61
				
		  	§6.20	  	 Environmental Compliance
	  	61
				
		  	§6.21	  	 Subsidiaries; Organizational Structure
	  	63
				
		  	§6.22	  	 Leases
	  	63
				
		  	§6.23	  	 Property
	  	64
				
		  	§6.24	  	 Brokers
	  	65
				
		  	§6.25	  	 Other Debt
	  	65
				
		  	§6.26	  	 Solvency
	  	65
				
		  	§6.27	  	 No Bankruptcy Filing
	  	65
				
		  	§6.28	  	 No Fraudulent Intent
	  	65
				
		  	§6.29	  	 Transaction in Best Interests of Borrowers; Consideration
	  	65
				
		  	§6.30	  	 Contribution Agreement
	  	66
				
		  	§6.31	  	 OFAC
	  	66
				
		  	§6.32	  	 LBHI Loan
	  	66
			
	§7.	  	AFFIRMATIVE COVENANTS	  	66
				
		  	§7.1	  	 Punctual Payment
	  	66
				
		  	§7.2	  	 Maintenance of Office
	  	67
				
		  	§7.3	  	 Records and Accounts
	  	67
				
		  	§7.4	  	 Financial Statements, Certificates and Information
	  	67
				
		  	§7.5	  	 Notices
	  	69
				
		  	§7.6	  	 Existence; Maintenance of Properties
	  	71
				
		  	§7.7	  	 Insurance; Condemnation
	  	72

  

 iii 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
		  	§7.8	  	 Taxes; Liens
	  	76
				
		  	§7.9	  	 Inspection of Properties and Books
	  	77
				
		  	§7.10	  	 Compliance with Laws, Contracts, Licenses, and Permits
	  	77
				
		  	§7.11	  	 Further Assurances
	  	77
				
		  	§7.12	  	 Management
	  	77
				
		  	§7.13	  	 Leases of the Property
	  	78
				
		  	§7.14	  	 Business Operations
	  	78
				
		  	§7.15	  	 Registered Servicemark
	  	79
				
		  	§7.16	  	 Ownership of Real Estate
	  	79
				
		  	§7.17	  	 Distributions of Income to Parent Borrower
	  	79
				
		  	§7.18	  	 Ownership Restrictions
	  	79
				
		  	§7.19	  	 Plan Assets
	  	79
				
		  	§7.20	  	 [Intentionally Omitted.]
	  	79
				
		  	§7.21	  	 Single Purpose Entity Requirements
	  	80
				
		  	§7.22	  	 Additional Covenants
	  	83
				
		  	§7.23	  	 REIT Covenants
	  	83
				
		  	§7.24	  	 Creation of Operating Partnership
	  	84
				
		  	§7.25	  	 Satisfaction of Indebtedness under LBHI Loan Documents
	  	84
			
	§8.	  	NEGATIVE COVENANTS	  	84
				
		  	§8.1	  	 Restrictions on Indebtedness
	  	84
				
		  	§8.2	  	 Restrictions on Liens, Etc
	  	85
				
		  	§8.3	  	 Restrictions on Investments
	  	86
				
		  	§8.4	  	 Merger, Consolidation
	  	88
				
		  	§8.5	  	 Sale and Leaseback
	  	88
				
		  	§8.6	  	 Compliance with Environmental Laws
	  	89
				
		  	§8.7	  	 Distributions
	  	90
				
		  	§8.8	  	 Asset Sales
	  	91
				
		  	§8.9	  	 [Intentionally Omitted.]
	  	91
				
		  	§8.10	  	 Restriction on Prepayment of Indebtedness
	  	91
				
		  	§8.11	  	 Zoning and Contract Changes and Compliance
	  	91

  

 iv 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
		  	§8.12	  	 Derivatives Contracts
	  	91
				
		  	§8.13	  	 Transactions with Affiliates
	  	92
				
		  	§8.14	  	 Equity Pledges
	  	92
				
		  	§8.15	  	 LBHI Loan Documents
	  	92
				
		  	§8.16	  	 Management Fees
	  	92
				
		  	§8.17	  	 Construction of Additional Buildings on VA4
	  	93
			
	§9.	  	FINANCIAL COVENANTS	  	93
				
		  	§9.1	  	 Borrowing Base
	  	93
				
		  	§9.2	  	 Consolidated Total Indebtedness to Gross Asset Value
	  	93
				
		  	§9.3	  	 Minimum Borrowing Base Debt Service Coverage Ratio
	  	93
				
		  	§9.4	  	 Adjusted Consolidated EBITDA to Consolidated Fixed Charges
	  	93
				
		  	§9.5	  	 Minimum Consolidated Tangible Net Worth
	  	93
				
		  	§9.6	  	 Borrowing Base Assets
	  	94
				
		  	§9.7	  	 Unhedged Variable Rate Debt
	  	94
			
	§10.	  	CLOSING CONDITIONS	  	94
				
		  	§10.1	  	 Loan Documents
	  	94
				
		  	§10.2	  	 Certified Copies of Organizational Documents
	  	94
				
		  	§10.3	  	 Resolutions
	  	94
				
		  	§10.4	  	 Incumbency Certificate; Authorized Signers
	  	94
				
		  	§10.5	  	 Opinion of Counsel
	  	94
				
		  	§10.6	  	 Payment of Fees
	  	95
				
		  	§10.7	  	 Insurance
	  	95
				
		  	§10.8	  	 Performance; No Default
	  	95
				
		  	§10.9	  	 Representations and Warranties
	  	95
				
		  	§10.10	  	 Proceedings and Documents
	  	95
				
		  	§10.11	  	 Eligible Real Estate Qualification Documents
	  	95
				
		  	§10.12	  	 Compliance Certificate
	  	95
				
		  	§10.13	  	 Appraisals
	  	95
				
		  	§10.14	  	 Consents
	  	95
				
		  	§10.15	  	 Contribution Agreement
	  	95

  

 v 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
		  	§10.16	  	 Recognition Agreements
	  	96
				
		  	§10.17	  	 Other
	  	96
			
	§11.	  	CONDITIONS TO ALL BORROWINGS	  	96
				
		  	§11.1	  	 Prior Conditions Satisfied
	  	96
				
		  	§11.2	  	 Representations True; No Default
	  	96
				
		  	§11.3	  	 Borrowing Documents
	  	96
				
		  	§11.4	  	 Endorsement to Title Policy
	  	96
				
		  	§11.5	  	 Future Advances Tax Payment
	  	96
			
	§12.	  	EVENTS OF DEFAULT; ACCELERATION; ETC.	  	97
				
		  	§12.1	  	 Events of Default and Acceleration
	  	97
				
		  	§12.2	  	 Certain Cure Periods; Limitation of Cure Periods
	  	100
				
		  	§12.3	  	 Termination of Commitments
	  	100
				
		  	§12.4	  	 Remedies
	  	101
				
		  	§12.5	  	 Distribution of Collateral Proceeds
	  	101
			
	§13.	  	SETOFF	  	102
			
	§14.	  	THE AGENT	  	103
				
		  	§14.1	  	 Authorization
	  	103
				
		  	§14.2	  	 Employees and Agents
	  	103
				
		  	§14.3	  	 No Liability
	  	103
				
		  	§14.4	  	 No Representations
	  	103
				
		  	§14.5	  	 Payments
	  	104
				
		  	§14.6	  	 Holders of Notes
	  	105
				
		  	§14.7	  	 Indemnity
	  	105
				
		  	§14.8	  	 Agent as Lender
	  	106
				
		  	§14.9	  	 Resignation
	  	106
				
		  	§14.10	  	 Duties in the Case of Enforcement
	  	106
				
		  	§14.11	  	 Bankruptcy
	  	107
				
		  	§14.12	  	 Request for Agent Action
	  	107
				
		  	§14.13	  	 Reliance by Agent
	  	108
				
		  	§14.14	  	 Approvals
	  	108

  

 vi 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	 	 	  	 	  	Page
		 	§14.15	  	 Borrowers Not Beneficiary
	  	108
				
		 	§14.16	  	 Recognition Agreements
	  	108
				
		 	§14.17	  	 Reliance on Hedge Provider
	  	109
				
		 	§14.18	  	 CH1 Recognition Agreement
	  	109
			
	§15.	 	EXPENSES	  	110
			
	§16.	 	INDEMNIFICATION	  	111
			
	§17.	 	SURVIVAL OF COVENANTS, ETC.	  	111
			
	§18.	 	ASSIGNMENT AND PARTICIPATION	  	112
				
		 	§18.1	  	 Conditions to Assignment by Lenders
	  	112
				
		 	§18.2	  	 Register
	  	113
				
		 	§18.3	  	 New Notes
	  	113
				
		 	§18.4	  	 Participations
	  	113
				
		 	§18.5	  	 Pledge by Lender
	  	114
				
		 	§18.6	  	 No Assignment by Borrowers
	  	114
				
		 	§18.7	  	 Disclosure
	  	114
				
		 	§18.8	  	 Amendments to Loan Documents
	  	115
				
		 	§18.9	  	 Titled Agents
	  	115
			
	§19.	 	NOTICES	  	115
			
	§20.	 	RELATIONSHIP	  	116
			
	§21.	 	GOVERNING LAW; CONSENT TO JURISDICTION AND SERVICE	  	117
			
	§22.	 	HEADINGS	  	117
			
	§23.	 	COUNTERPARTS	  	117
			
	§24.	 	ENTIRE AGREEMENT, ETC.	  	117
			
	§25.	 	WAIVER OF JURY TRIAL AND CERTAIN DAMAGE CLAIMS	  	118
			
	§26.	 	DEALINGS WITH THE BORROWERS	  	118
			
	§27.	 	CONSENTS, AMENDMENTS, WAIVERS, ETC.	  	118
			
	§28.	 	SEVERABILITY	  	119
			
	§29.	 	TIME OF THE ESSENCE	  	119
			
	§30.	 	NO UNWRITTEN AGREEMENTS	  	120
			
	§31.	 	REPLACEMENT NOTES	  	120

  

 vii 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	 	 	  	 	  	Page
	§32.	 	NO THIRD PARTIES BENEFITED	  	120
			
	§33.	 	PATRIOT ACT	  	120
			
	§34.	 	[Intentionally Omitted.]	  	121
			
	§35.	 	JOINT AND SEVERAL LIABILITY	  	121
			
	§36.	 	ADDITIONAL AGREEMENTS CONCERNING OBLIGATIONS OF BORROWERS	  	121
				
		 	§36.1	  	 Attorney-in-Fact
	  	121
				
		 	§36.2	  	 Accommodation
	  	121
				
		 	§36.3	  	 Waiver of Automatic or Supplemental Stay
	  	121
				
		 	§36.4	  	 Waiver of Defenses
	  	121
				
		 	§36.5	  	 Waiver
	  	124
				
		 	§36.6	  	 Subordination
	  	124
			
	§37.	 	INVESTOR GUARANTIES	  	124
			
	§38.	 	CONSOLIDATION, AMENDMENT AND RESTATEMENT OF ORIGINAL NOTES	  	125

  

 viii 

 EXHIBITS AND SCHEDULES 
  

			
	Exhibit A	 	FORM OF REVOLVING CREDIT NOTE
		
	Exhibit B	 	FORM OF SWING LOAN NOTE
		
	Exhibit C	 	FORM OF TERM LOAN NOTE
		
	Exhibit D	 	FORM OF ASSIGNMENT OF LEASES AND RENTS
		
	Exhibit E	 	FORM OF JOINDER AGREEMENT
		
	Exhibit F	 	FORM OF MORTGAGE
		
	Exhibit G	 	FORM OF REQUEST FOR REVOLVING CREDIT LOAN
		
	Exhibit H	 	FORM OF LETTER OF CREDIT REQUEST
		
	Exhibit I	 	FORM OF BORROWING BASE CERTIFICATE
		
	Exhibit J	 	FORM OF COMPLIANCE CERTIFICATE
		
	Exhibit K	 	FORM OF ASSIGNMENT AND ACCEPTANCE AGREEMENT
		
	Exhibit L	 	FORM OF LETTER OF CREDIT APPLICATION
		
	Schedule 1.1	 	LENDERS AND COMMITMENTS
		
	Schedule 1.2	 	ELIGIBLE REAL ESTATE QUALIFICATION DOCUMENTS
		
	Schedule 6.3	 	LIST OF ALL ENCUMBRANCES ON ASSETS
		
	Schedule 6.5	 	NO MATERIAL CHANGES
		
	Schedule 6.7	 	PENDING LITIGATION
		
	Schedule 6.15	 	CERTAIN TRANSACTIONS
		
	Schedule 6.20	 	ENVIRONMENTAL RELEASES
		
	Schedule 6.20(d)	 	REQUIRED ENVIRONMENTAL ACTIONS
		
	Schedule 6.21(a)	 	PARENT BORROWER SUBSIDIARIES
		
	Schedule 6.21(b)	 	UNCONSOLIDATED AFFILIATES OF PARENT BORROWER AND ITS SUBSIDIARIES
		
	Schedule 6.22	 	EXCEPTIONS TO RENT ROLL
		
	Schedule 6.23	 	MANAGEMENT AGREEMENTS

  

 ix 

			
	Schedule 6.25	  	MATERIAL LOAN AGREEMENTS
		
	Schedule 6.32	  	LBHI LOAN DOCUMENTS
		
	Schedule 7.24	  	FORMATION TRANSACTIONS
		
	Schedule 34	  	ASSIGNMENTS OF LOAN DOCUMENTS

  

 xExhibit 10.20

 Exhibit 10.20 
 ASSIGNMENT AND ASSUMPTION OF LEASE 
 This ASSIGNMENT OF
LEASE (this “Assignment”) is made this          day of
                    , 2007, by and between DUPONT FABROS DEVELOPMENT LLC, a Delaware
limited liability company (“Assignor”) and DUPONT FABROS TECHNOLOGY, INC. a Maryland corporation (“Assignee”).

 WITNESSETH: 
 WHEREAS, Assignor is the “Tenant” under that certain Lease Agreement (together with all amendments and modifications thereto, the “Lease”) with Jaguar Properties LLC, a
Delaware limited liability company, as landlord (the “Landlord”), dated September 1, 2004 and attached hereto as Exhibit A, by which Assignor leases approximately 6,757 rentable square feet known as Suite 900 in
the building located at 1212 New York Avenue, NW in Washington, D.C. (the “Leased Premises”); 
 WHEREAS, Assignor has a leasehold interest in the Leased Premises (together with any parking spaces, fixtures, and equipment located at the Leased Premises, the “Improvements”);

 WHEREAS, Assignor hereby desires to assign all of its right, title and interest in the Lease, the
Leased Premises and the Improvements to Assignee and Assignee desires to assume the Lease from Assignor and accept Assignor’s rights in the Leased Premises, the Improvements, and the Security Deposit upon the terms and conditions hereinafter
set forth; and 
 WHEREAS, Landlord, upon the terms and conditions set forth herein, desires to consent
to the terms of this Assignment. 
 NOW, THEREFORE, in consideration of the mutual
covenants hereinafter contained and for other good and valuable consideration, in hand paid, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed as follows: 
 1. RECITALS. The foregoing recitals are incorporated herein as if fully restated. 
 2. DEFINED TERMS. All capitalized terms used herein shall have the definitions provided in the Lease
unless otherwise provided herein. 
 3. ASSIGNMENT. Assignor hereby assigns, transfers and conveys to
Assignee all of its right, title and interest in and to the Lease effective as of the date hereof. Assignor also hereby assigns, transfers and conveys to Assignee all of its right, title and interest in and to the Leased Premises and the
Improvements as of the Effective Date. 

 4. ASSUMPTION. Assignee hereby assumes and agrees to perform, from
and after the Effective Date of this Assignment, all of the covenants, agreements, terms, conditions and obligations required of “Tenant” within the Lease. 
 5 BINDING EFFECT. All of the covenants and agreements herein contained shall be binding upon and shall inure to the benefit of the parties hereto and their
respective successors and assigns. 
 6 ENTIRE AGREEMENT. This Assignment dated contains
all of the agreements, representations, warranties, indemnifications, and conditions made between the parties hereto relating to the assignment and assumption of the Lease and may not be modified orally, or in any other manner than by an agreement,
in writing, signed by the parties hereto or in their respective successors in interest. 
 7 CHOICE OF
LAW. The laws of the District of Columbia shall govern the validity, performance and enforcement of this Assignment. 
 [The remainder of this page has been intentionally left blank] 

 IN WITNESS WHEREOF, the parties hereto
have executed this Assignment as of the day first above written. 
  

			
	ASSIGNOR:
	
	 DUPONT FABROS DEVELOPMENT LLC,
 a Delaware limited liability company

		
	By:	 	  

	Name:	 	Hossein Fateh
	Title:	 	Member
	
	ASSIGNEE:
	
	 DUPONT FABROS TECHNOLOGY, INC.,
 a Maryland corporation

		
	By:	 	  

	Name:	 	Hossein Fateh
	Title:	 	Chief Executive Officer

 LANDLORD CONSENT 
 Landlord hereby consents to the foregoing Assignment upon the terms and conditions set forth therein. Landlord’s consent to the Assignment shall not
extend to any further assignment of the Lease, or to any sublease of the Leased Premises or any portion thereof. Landlord hereby ratifies and confirms the Lease and the terms, conditions and covenants contained therein. Landlord hereby acknowledges
and agrees to completely release Assignor from all further obligations arising under the Lease. 
  

							
	LANDLORD:
	
	 JAGUAR PROPERTIES LLC,
 a Delaware limited liability company

		
	By:	 	 JAGUAR VENTURES LLC,
 a Delaware limited liability company,
 its Managing Member

			
		 	By:	 	 JAGUAR MANAGEMENT LLC,
 a Delaware limited liability company,
 its Managing Member

				
		 		 	By:	 	  

		 		 	Name:	 	Hossein Fateh
		 		 	Title:	 	Managing Member

 EXHIBIT A 
 Lease 
 [attached hereto] 

 LEASE AGREEMENT 
 between 
 JAGUAR PROPERTIES LLC, as Landlord 
 and 
 DUPONT
FABROS DEVELOPMENT LLC, as Tenant 
 September 1, 2004 
 For Premises Located at: 
 1212 New York
Avenue, N.W. 
 Washington, D.C. 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
	 	  	 	  	PAGE
	 ARTICLE 1
	  	THE PREMISES	  	1
			
	 Section 1.1
	  	        Premises	  	1
			
	 ARTICLE 2
	  	LEASE TERM	  	4
			
	 Section 2.1
	  	        Term	  	4
			
	 Section 2.2
	  	        Lease Commencement Date	  	4
			
	 ARTICLE 3
	  	RENT	  	5
			
	 Section 3.1
	  	        Fixed Rent	  	5
			
	 Section 3.2
	  	        Late Payment; Interest Charge	  	5
			
	 Section 3.3
	  	        Rent Generally	  	5
			
	 ARTICLE 4
	  	ADDITIONAL RENT	  	6
			
	 Section 4.1
	  	        Increases in Real Estate Taxes	  	6
			
	 Section 4.2
	  	        Real Estate Taxes Defined	  	6
			
	 ARTICLE 6
	  	USE	  	9
			
	 Section 6.1
	  	        Use	  	9
			
	 Section 6.2
	  	        Compliance with Laws	  	9
			
	 ARTICLE 7
	  	PARKING	  	9
			
	 Section 7.1
	  	        Garage Parking Spaces	  	9
			
	 Section 7.2
	  	        Garage Rules	  	9
			
	 ARTICLE 8
	  	ASSIGNMENT AND SUBLETTING	  	10
			
	 Section 8.1
	  	        Landlord’s Consent Required	  	10
			
	 Section 8.2
	  	        Transfers	  	10
			
	 ARTICLE 9
	  	MAINTENANCE AND REPAIRS	  	11
			
	 Section 9.1
	  	        Maintenance and Repairs	  	11
			
	 Section 9.2
	  	        Landlord’s Maintenance and Repairs	  	11
			
	 ARTICLE 10
	  	ALTERATIONS	  	12
			
	 Section 10.1
	  	        Landlord’s Work	  	12
			
	 Section 10.2
	  	        Tenant’s Improvements	  	12
			
	 Section 10.3
	  	        Indemnification for Improvements	  	13
			
	 ARTICLE 11
	  	SIGNS AND FURNISHINGS	  	13
			
	 Section 11.1
	  	        Signs	  	13
			
	 Section 11.2
	  	        Furnishings	  	14

  

 i. 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
	 	  	 	  	PAGE
	 ARTICLE 12
	  	TENANT’S EQUIPMENT	  	14
			
	 ARTICLE 13
	  	INSPECTIONS BY LANDLORD	  	14
			
	 ARTICLE 14
	  	INSURANCE	  	15
			
	 Section 14.1
	  	        Tenant’s Insurance	  	15
			
	 Section 14.2
	  	        Indemnity by Tenant	  	16
			
	 Section 14.3
	  	        Increases in Insurance Rates	  	16
			
	 Section 14.4
	  	        Notice of Accidents	  	17
			
	 Section 14.5
	  	        Waiver of Subrogation	  	17
			
	 ARTICLE 15
	  	SERVICES AND UTILITIES	  	17
			
	 Section 15.1
	  	        Services and Utilities	  	17
			
	 Section 15.2
	  	        Interruption of Services and Utilities	  	18
			
	 Section 15.3
	  	        Conservation Controls	  	19
			
	 ARTICLE 16
	  	LIABILITY OF LANDLORD	  	19
			
	 Section 16.1
	  	        No Liability of Landlord	  	19
			
	 Section 16.2
	  	        Transfer by Landlord	  	20
			
	 Section 16.3
	  	        Disputed Payments	  	20
			
	 Section 16.4
	  	        Attorneys’ Fees	  	20
			
	 Section 16.5
	  	        Extent of Landlord’s Liability	  	20
			
	 ARTICLE 17
	  	RULES AND REGULATIONS	  	21
			
	 ARTICLE 18
	  	DAMAGE OR DESTRUCTION	  	21
			
	 Section 18.1
	  	        Casualty	  	21
			
	 Section 18.2
	  	        Limitations on Landlord’s Obligations	  	22
			
	 Section 18.3
	  	        Right to Terminate	  	22
			
	 ARTICLE 19
	  	CONDEMNATION	  	22
			
	 Section 19.1
	  	        Termination for Condemnation	  	22
			
	 Section 19.2
	  	        Award	  	22
			
	 ARTICLE 20
	  	DEFAULT BY TENANT	  	23
			
	 Section 20.1
	  	        Defaults	  	23
			
	 Section 20.2
	  	        Landlord’s Rights	  	24
			
	 Section 20.3
	  	        Liquidated Damages	  	24
			
	 Section 20.4
	  	        Landlord’s Rights Cumulative	  	25

  

 ii. 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
	 	  	 	  	PAGE
	 Section 20.5
	  	        No Waiver By Landlord	  	25
			
	 Section 20.6
	  	        Landlord’s Right to Cure	  	25
			
	 Section 20.7
	  	        Landlord’s Lien	  	25
			
	 ARTICLE 21
	  	SUBORDINATION AND ATTORNMENT	  	26
			
	 Section 21.1
	  	        Subordination	  	26
			
	 Section 21.2
	  	        Attornment	  	26
			
	 ARTICLE 22
	  	DELIVERY AT END OF LEASE TERM	  	27
			
	 Section 22.1
	  	        Surrender of Premises	  	27
			
	 Section 22.2
	  	        Holding Over	  	27
			
	 ARTICLE 23
	  	COVENANTS OF LANDLORD AND RESERVATION OF RIGHTS	  	27
			
	 Section 23.1
	  	        Covenants of Landlord	  	27
			
	 Section 23.2
	  	        Landlord’s Reservation of Rights	  	28
			
	 ARTICLE 24
	  	GENERAL PROVISIONS	  	28
			
	 Section 24.1
	  	        No Representations	  	28
			
	 Section 24.2
	  	        Financing Requirements	  	28
			
	 Section 24.3
	  	        No Partnership	  	28
			
	 Section 24.4
	  	        Brokers	  	29
			
	 Section 24.5
	  	        Tenant Estoppel Certificates	  	29
			
	 Section 24.6
	  	        Waiver of Jury Trial	  	29
			
	 Section 24.7
	  	        Notices	  	29
			
	 Section 24.8
	  	        Partial Invalidity	  	30
			
	 Section 24.9
	  	        Pronouns	  	30
			
	 Section 24.10
	  	        Successors and Assigns	  	30
			
	 Section 24.11
	  	        Entire Agreement	  	30
			
	 Section 24.12
	  	        Governing Law	  	30
			
	 Section 24.13
	  	        Section Headings	  	31
			
	 Section 24.14
	  	        No Offer	  	31
			
	 Section 24.15
	  	        Multiple Counterparts	  	31
			
	 Section 24.16
	  	        Time of Essence	  	31
			
	 Section 24.17
	  	        Conflict	  	31
			
	 Section 24.18
	  	        Execution by Tenant; Joint and Several Liability	  	31

  

 iii. 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
	 	  	 	  	PAGE
	 Section 24.19
	  	        Force Majeure	  	31
			
	 Section 24.20
	  	        No Construction of Lease Against Drafter	  	31
			
	 Section 24.21
	  	        Financials	  	32
			
	 ARTICLE 25
	  	TRASH SORTING; ENVIRONMENTAL LAWS	  	32
			
	 Section 25.1
	  	        Trash Sorting	  	32
			
	 Section 25.2
	  	        Environmental Laws	  	32
			
	 ARTICLE 26
	  	OPTION TO EXTEND	  	33
			
	 Section 26.1
	  	        Option to Extend	  	33

  

 iv. 

  

 BASIC LEASE INFORMATION 
 THIS PAGE IS NOT A PART OF THE
LEASE. CERTAIN TERMS ARE SET FORTH ON THIS PAGE FOR CONVENIENT REFERENCE; HOWEVER, NOTHING HEREIN SHALL MODIFY OR AFFECT ANY PROVISION SET FORTH IN THE LEASE. 
  

  

  

			
	 Date:
	  	September 1, 2004
		
	 Landlord:
	  	Jaguar Properties LLC
		
	 Tenant:
	  	DuPont Fabros Development LLC
		
	 Premises:
	  	1212 New York Avenue, N.W., Suite 900, Washington, D.C.
		
	 Agreed Square Footage:
	  	6,757 rentable square feet
		
	 Lease Term:
	  	Five (5) years
		
	 Lease Commencement Date:
	  	September 17, 2004 or as otherwise set forth in Section 2.2 of the Lease
		
	 Rent Commencement Date:
	  	September 17, 2004 or as otherwise set forth in Section 3.1 of the Lease
		
	 Expiration Date:
	  	The day preceding the fifth (5th) anniversary of the Commencement Date, as may be modified pursuant to Section 2.1 of the Lease, and otherwise subject to renewal options.
		
	 Base Rental (per month):
	  	Initial full monthly rental $19,707.92
		
	 Tenant’s Percentage Share:
	  	6.47%
		
	Tenant’s Address for	  	
	     Notices Post Commencement:
	  	 DuPont Fabros Development LLC
 1212 NY Avenue, N.W., Suite 900
 Washington, DC 20005

		  	 Attention: Hossein Fateh and Lammot J. du Pont

  

 1. 

			
	Landlord’s Address	  	
	     for Notices (until September 17, 2004):
	  	 Jaguar Properties LLC
 c/o DuPont Fabros Development LLC
 1707 H Street, N.W.

		  	 Suite 1000
 Washington, D.C. 20006
 Attn: Hossein Fateh and Lammot J. du Pont

		
	 After September 1, 2004:
	  	 At the Premises

		
	 With a copy to:
	  	 Cooley Godward LLP
 11951 Freedom Drive
 Suite 1500

		  	 Reston, Virginia 20190
 Attn: Susan Stevens Mullen

  

 2. 

 LEASE AGREEMENT 
 THIS LEASE AGREEMENT (the “Lease”) is made as of September 1, 2004, by and between JAGUAR
PROPERTIES LLC, a Delaware limited liability company (“Landlord”), and DUPONT FABROS DEVELOPMENT LLC, a Delaware limited liability company
(“Tenant”). 
 RECITALS: 
 A. Landlord is the owner of an office building (the “Building”) located at 1212 New York Avenue, N.W., Washington, D.C. 20005.
The land on which the Building is located is located in the District of Columbia (“Land”). The Land, the Building and all other improvements thereon and the common areas and appurtenances thereto are collectively referred to
herein as the “Property.” 
 B. Tenant desires to hire and lease space in the Building and Landlord is willing to
demise and lease space in the Building to Tenant, upon the terms, conditions, covenants and agreements set forth herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending legally to be bound, hereby covenant and agree as set forth below. 
 ARTICLE 1 

THE PREMISES 
 Section 1.1
Premises 
 Landlord hereby demises and leases to Tenant and Tenant hereby hires and leases from Landlord, for the term and upon the
terms, conditions, covenants and agreements herein provided, Suite 900, located on the ninth (9th) floor of the Building, which space consists of 6,757 square feet of rentable area as determined by agreement of the parties (such space being
hereinafter referred to as the “Premises”). The Premises shall not be subject to any remeasurement. The said agreed upon square footage shall in no way affect the fixed rental hereunder or any other rent or sum payable
hereunder, or any other provision of this Lease, should any variance be found to exist between said agreed upon square footage and actual square footage. The Premises are cross-hatched on EXHIBIT A attached hereto and made a
part hereof. The lease of the Premises includes the right, together with other tenants of the Building and members of the public, to use the common public areas of the Building but includes no other rights not specifically set forth herein.

  

 3. 

 ARTICLE 2 
 LEASE TERM 
 Section 2.1 Term 
 The term of this Lease (“Lease Term”) shall commence on the Lease Commencement Date (hereinafter defined), as determined pursuant
to Section 2.2 hereof, and shall end at midnight on (i) the day preceding the fifth (5th) anniversary of the Lease Commencement Date, if the Lease Commencement Date occurs on the first day of a month, or (ii) the last day of the
month which includes the fifth (5th) anniversary of the Lease Commencement Date, if the Lease Commencement Date occurs on a day which is other than on the first day of a month, unless the Lease Term is terminated earlier in accordance with the
provisions of this Lease. 
 Section 2.2 Lease Commencement Date 
 The Lease Commencement Date shall be September 17, 2004 or the date on which Landlord notifies Tenant that Landlord has substantially completed
Landlord’s Work, if any (as hereinafter defined). 
 It is presently anticipated that the Premises will be ready for occupancy by Tenant
on or about September 17, 2004; provided, however, if Landlord is unable for any reason to deliver possession of the Premises by such date, Landlord shall not have any liability whatsoever to Tenant on account of Landlord’s inability to
deliver possession of the Premises to Tenant and this Lease shall not be rendered, void or voidable as a result of such delay. 
 Provided
that Tenant does not interfere with or delay the completion by Landlord or its agents or contractors of the construction of any of Landlord’s Work (hereinafter defined), Tenant shall have the right to enter the Premises up to fifteen
(15) days prior to the anticipated Lease Commencement Date for the purpose of installing telephone equipment, computer wiring and similar items. Provided that Tenant has not begun operating its business from the Premises, and subject to all of
the terms and conditions of this Lease, the foregoing activity shall not constitute the delivery of possession of the Premises to Tenant or occupancy of the Premises by Tenant and neither the Lease Term nor Tenant’s obligation to pay rent shall
commence as a result of such activities. 
 Within fifteen (15) days after the Lease Commencement Date, Landlord and Tenant shall
execute a certificate in the form attached hereto as EXHIBIT B setting forth the Lease Commencement Date and the date on which the Lease Term shall expire. 
  

 4. 

 ARTICLE 3 
 RENT 
 Section 3.1 Fixed Rent. Tenant shall pay to Landlord as fixed annual rent for each
Lease Year for the Premises, without notice, set-off, counterclaim, deduction or demand, the following amounts, subject to adjustment as provided in Section 3.2 hereof: 
  

							
	 Lease Year
	  	Fixed Annual Rent
Per Annum	  	Fixed Monthly Rent
	 1
	  	$	236,495.00	  	$	19,707.92
	 2
	  	$	243,589.85	  	$	20,299.15
	 3
	  	$	250,897.54	  	$	20,908.13
	 4
	  	$	258,424.46	  	$	21,535.37
	 5
	  	$	266,177.19	  	$	22,181.43

 Fixed annual rent shall be payable in equal monthly installments beginning on the Lease
Commencement Date and thereafter monthly, in advance, on the first day of each month during the Lease Term, (each such monthly installment being referred to herein as “fixed monthly rent”). If the Rent Commencement Date (defined below) is
a date other than on the first day of a month, rent from such date until the first day of the following month shall be prorated at the rate of one-thirtieth (1/30th) of the fixed monthly rent for each day. As used herein, the first “Lease
Year” shall mean the period commencing on the Lease Commencement Date and ending on the last day of the month which completes (12) twelve full calendar months, and each 12-month period, thereafter commencing on the first day after the end
of the immediately preceding Lease Year. The date upon which Tenant is required to begin making fixed rent payments under this Lease shall be the “Rent Commencement Date.” Notwithstanding such abatement of fixed rent,
(a) all other sums due under this Lease, including, but not limited to, additional rent, shall be payable as provided in this Lease, and (b) any increases in fixed rent set forth in this Lease shall occur on the dates scheduled therefor.
The abatement of Tenant’s fixed rent is conditioned upon Tenant’s full and timely performance of all of its obligations under this Lease. If at any time during the Lease Term a default by Tenant occurs, then the abatement of fixed rent
provided for herein shall immediately become void, and Tenant shall promptly pay to Landlord, in addition to the other amounts due to Landlord under this Lease, the full amount of fixed rent herein abated. 
 Section 3.2 Late Payment; Interest Charge. If Tenant fails to make any payment of rent by the tenth (10th) day following the date such
payment is due and payable, Tenant shall pay to Landlord a late charge of five percent (5%) of the amount of such payment, together with interest on said overdue amount from the due date until paid, at the rate of eight percent (8%) per
annum (the “Interest Rate”). Such late charges and interest shall constitute additional rent due hereunder, shall be paid within five (5) days after demand therefor by Landlord and shall be in addition to all other
rights and remedies provided to Landlord in this Lease. 
 Section 3.3 Rent Generally. All rent payable by Tenant hereunder shall
be paid to Landlord in lawful money of the United States of America at the office of Landlord or to such other party or to such other address as Landlord may designate from time to time by written 

  

 5. 

 
notice to Tenant. All rent and other sums payable under this Lease shall be paid in full by Tenant, in advance, without notice or demand and without set-off,
deduction, recoupment, abatement, counterclaim or adjustment of any kind. If Landlord shall at any time or times accept rent and any other sums to which Landlord is entitled hereunder after the same shall become due and payable, such acceptance
shall not excuse a delay upon subsequent occasions, or constitute, or be construed as, a waiver of any or all of Landlord’s rights hereunder. Tenant’s obligation for the payment of rent hereunder shall survive the expiration or sooner
termination of this Lease. 
 ARTICLE 4 
 ADDITIONAL RENT 
 Section 4.1 Increases in Real Estate Taxes. Commencing on the first
January 1st following the Lease Commencement Date and continuing thereafter on each subsequent January 1st throughout the Lease Term, Tenant shall pay to Landlord Tenant’s proportionate share of the amount by which the Real Estate
Taxes actually paid by Landlord, in each case during the period commencing on each January 1 and through and ending December 31 (“Fiscal Year”) have increased over those paid for the previous January 1 through
December 31 period (“Base Year”). For purposes of this Section 4.1, Tenant’s proportionate share of such increase shall be the amount derived from a fraction (i) the numerator of which is the total number
of square feet of the rentable area of the Premises as determined pursuant to Section 1.1, and (ii) the denominator of which is 104,371 (being the total number of rentable office area in the Building). The space measurement of the Building
has been determined in accordance with the Washington, D.C. Association of Realtors, Inc. method of measurement. 
 Section 4.2 Real
Estate Taxes Defined. “Real Estate Taxes” means all taxes and assessments, general or special, ordinary or extraordinary, foreseen or unforeseen, assessed, levied or imposed by any governmental authority upon the Building
(which expressly includes the Land, the parking facilities, the Common Area and allocable portions of the Property) and upon the fixtures, machinery, equipment or systems in, upon or used in connection with any of the foregoing, and the rental,
revenue or receipts derived therefrom, under the current or any future taxation or assessment system or modification of, supplement to, or substitute for such system. Real Estate Taxes also shall include special assessments which are in the nature
of or in substitution for real estates taxes, including, without limitation, road improvement assessments, special use area assessments, school district assessment, vault space rentals and any business, professional and occupational license tax
payable by Landlord in connection with the Building. If at any time the method of taxation prevailing at the Lease Commencement Date shall be altered to that in lieu of, as a substitute for or in addition to the whole or any part of the taxes now
levied or assessed, there shall be levied or assessed a tax of whatever nature, then the same shall be included as Real Estate Taxes hereunder. Further, for the purposes of this Article, Real Estate Taxes shall include the reasonable expenses
(including, without limitation, attorneys’ fees) incurred by Landlord in challenging or obtaining or attempting to obtain a reduction of such Real Estate Taxes, regardless of the outcome of such challenge. Notwithstanding the foregoing,
Landlord shall have no obligation to challenge Real Estate Taxes. If as a result of any such challenge, a tax refund is made to Landlord, then the amount of such refund less the expenses of the challenge shall be deducted from Real Estate Taxes due
in the year such refund is received. 
  

 6. 

 Section 4.3 Real Estate Taxes. Except as provided in Section 4.4 below, Landlord shall
submit to Tenant each year a statement setting forth the respective amounts payable by Tenant pursuant to this Article 4 for the preceding Fiscal Year for increases in Real Estate Taxes. Within thirty (30) days after receipt of such statement,
Tenant shall pay to Landlord the amount shown thereon. 
 For all purposes, under this Article 4 Tenant’s liability hereunder for
increases in Real Estate Taxes shall each be calculated separately from and payable in addition to one another. 
 Section 4.4
Installment Payments; Proration. In lieu of accepting from Tenant one annual payment for Tenant’s proportionate share of the increase in Real Estate Taxes, Landlord shall have the right, from time to time, to require Tenant to make
estimated monthly payments on account of the respective amounts Tenant will be obligated to pay pursuant to this Article 4 for each Fiscal Year falling entirely or partly within the Lease Term. If Landlord exercises such right, Landlord shall submit
to Tenant a statement setting forth Landlord’s estimate of each of the respective amounts Tenant will be obligated to pay pursuant to this Article 4 for the Fiscal Year in question, which estimates may be revised by Landlord from time to time
during the Fiscal Year, and Tenant shall pay to Landlord on the first (1st) day of each month following receipt of such statement during such Fiscal Year an amount (separately calculated and payable for each of the estimated increase in Real
Estate Taxes) equal to such respective estimated amount multiplied by a fraction, the numerator of which is one (1) and denominator of which is the number of months during such Fiscal Year which fall within the Lease Term and follow the date of
the foregoing statement. After the expiration of such calendar year, Landlord shall submit to Tenant a statement showing Tenant’s proportionate share of the increase in Real Estate Taxes for such Fiscal Year, and the respective aggregate amount
of the estimated payments made by Tenant on account the increase in Real Estate Taxes. If the aggregate amount of such estimated payments paid by Tenant for the increase in Real Estate Taxes exceeds Tenant’s actual liability for such increase,
Landlord shall credit such excess to Tenant’s account. If Tenant’s actual liability for such increase in Real Estate Taxes exceed the estimated payments made by Tenant on account thereof, then Tenant shall immediately pay to Landlord the
total amount of such deficiency. 
 In the event the Lease Term commences or expires during a Fiscal Year, then the increase in Real Estate
Taxes to be paid by Tenant for such Fiscal Year shall be determined by multiplying the amount of Tenant’s respective proportionate share thereof for the full Fiscal Year by a fraction, the numerator of which is the number of days during such
Fiscal Year falling within the Lease Term, and the denominator of which is 365. At least thirty (30) days prior to the end of the Lease Term, Landlord shall present to Tenant a written statement containing an estimate of the amounts Tenant
would be obligated to pay under this Article 4 the actual Real Estate Taxes for the Fiscal Year had been determined. Tenant shall be required to pay such estimated amounts on or before the last day of the Lease Term, and if all or any portion of the
payments are not made, Landlord shall be entitled to deduct such amount from Tenant’s security deposit, if any. Once the Real Estate Taxes for the last Fiscal Year of the Lease Term have been determined, Landlord shall provide Tenant with a
statement of the actual increase in Real Estate Taxes for which Tenant is liable. If Tenant owes an additional amount, such amount is due on or before thirty (30) days after receipt of the statement. If Tenant is entitled to a refund, Landlord
shall have thirty (30) days from the date of the statement within which to remit payment to Tenant. 
  

 7. 

 Notwithstanding any dispute which may arise in connection with the computation or estimate of the amount
due under this Article 4, Tenant shall be obligated to pay the amount specified by Landlord, without set-off, recoupment, abatement, counterclaim, adjustment or deduction of any kind, pending the resolution of any dispute. Tenant’s obligations
under this Article 4 shall survive the expiration of this Lease. 
 Section 4.5 Treatment as Additional Rent. All payments
required to be made by Tenant pursuant to this Article 4 or pursuant to any other provision of this Lease, except for fixed monthly rent, shall be additional rent, whether or not specifically so defined, and shall be paid to Landlord, without
set-off, recoupment, abatement, counterclaim, adjustment or deduction of any kind, in the manner specified herein. Notwithstanding any dispute which may arise in connection with the computation or estimate of the amount due under this Lease, Tenant
shall be obliged to pay the amount specified by Landlord, without set-off, recoupment, abatement, counterclaim or deduction of any kind, pending the resolution of any dispute. 
 Section 4.6 Additional Taxes or Governmental Charges. In the event that any business, rent, or other taxes, or any governmental charges that
are now or hereafter levied upon Tenant’s use or occupancy of the Premises or Tenant’s business at the Premises, are charged, enacted, changed, or altered so that any of such taxes are levied against Landlord, or the mode of collection of
such taxes is changed so that Landlord is responsible for collection or payment of such taxes, Tenant shall pay any and all such taxes to Landlord upon written demand from Landlord. 
 Section 4.7 Change In or Contest Of Real Estate Taxes. In the event of any change by any taxing body in the period or manner in which any of
the Real Estate Taxes are levied, assessed or imposed, Landlord shall have the right, in its sole discretion, to make equitable adjustments with respect to computing increases in Real Estate Taxes. Real Estate Taxes which are being contested by
Landlord shall be included in computing Tenant’s proportionate share of the increases in Real Estate Taxes under this Article 4, but if Tenant shall have paid additional rent on account of contested Real Estate Taxes and Landlord thereafter
receives a refund of such taxes, Tenant shall receive a credit toward subsequent rent payments in an amount equal to Tenant’s proportionate share of such refund. 
 ARTICLE 5 
 SECURITY DEPOSIT 
 Section 5.1 Security Deposit. [Intentionally Deleted] 
  

 8. 

 ARTICLE 6 
 USE 
 Section 6.1 Use. Tenant shall use and occupy the Premises solely for general office
purposes in accordance with applicable zoning regulations and for no other use or purpose without the prior written consent of Landlord (“Permitted Use”). Tenant shall not use or occupy the Premises for any unlawful purpose
or in any manner that will constitute waste, nuisance or unreasonable annoyance to Landlord or other tenants of the Building. 
 Section 6.2 Compliance with Laws. Tenant shall comply with all present and future laws, ordinances (including zoning ordinances and land use requirements), regulations, and orders of the United States of America, the District of
Columbia, and any other public or quasi-public authority having jurisdiction over the Premises concerning the use, occupancy, facilities in and condition of the Premises and all machinery, equipment, facilities, entrances thereto, exits therefrom
and furnishings therein (including, without limitation, any requirements for structural changes), to the extent that any of same do not serve portions of the Building other than the Premises. Landlord shall obtain an occupancy permit with respect to
the initial improvements to the Premises, if required by law. If any future law, ordinance, regulation, or order requires another occupancy permit or other permit for the Premises, Tenant will obtain such permit at Tenant’s sole expense. Tenant
shall pay all costs, expenses, liabilities, losses, damages, fines, penalties, claims, and demands, including reasonable counsel fees, that may in any manner arise out of or be imposed because of the failure of Tenant to comply with the covenants of
this Section 6.2. 
 ARTICLE 7 
 PARKING 
 Section 7.1 Garage Parking Spaces. Tenant shall have the right to contract with
the operator of the parking garage located under the Building (the “Garage”) for up to five (5) unreserved parking spaces (the “Spaces”) located in the Garage, for use by Tenant’s employees,
agents and guests. The cost of such Spaces shall be the then-prevailing monthly charge for unreserved parking in the Garage, as determined from time to time by Landlord and/or the parking garage operator. 
 Section 7.2 Garage Rules. Tenant agrees that it and its employees shall observe reasonable safety precautions in the use of the Garage, and
shall at all times abide by all rules and regulations promulgated by Landlord or the parking operator governing the use of the Garage. Tenant understands and agrees that Landlord does not assume any responsibility for any damage or loss to any
automobiles parked in the Garage, or to any personal property located therein, or for any injury sustained to any person in or about the Garage. 
  

 9. 

 ARTICLE 8 
 ASSIGNMENT AND SUBLETTING 
 Section 8.1 Landlord’s Consent Required. Tenant shall
not assign, transfer, mortgage, or otherwise encumber this Lease or its interest therein (collectively “assign” or “assignment”) or sublet, rent or permit anyone to occupy the Premises, or any part
thereof (collectively “sublet”), without obtaining the prior written consent of Landlord, which consent may not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, Landlord’s consent shall
not be required in conjunction with the sale of all or substantially all of Tenant’s assets or membership interests. 
 Tenant shall be
responsible for and agrees to reimburse to Landlord any costs and expenses, including reasonable legal fees, incurred by Landlord in connection with any proposed or purported assignment, transfer or sublease, mortgaging or encumbering, up to $500.00

 Tenant further agrees to submit any and all instruments of assignment and subleases to Landlord for Landlord’s prior written approval
as to form and substance, which approval shall not be unreasonably withheld, but which instruments, as an express condition precedent to Landlord’s prior approval, shall provide that (i) such sublease or assignment is subject and
subordinate to this Lease in all respects, and to any amendments, modifications, renewals, extensions or expansions hereof, (ii) Tenant shall remain primarily liable as Tenant hereunder, (iii) such assignee or sublessee shall conduct a
business in the Premises which is a Permitted Use pursuant to this Lease, (iv) in the case of an assignment, such assignee is bound by the terms and conditions of this Lease and assumes all of the obligations and liabilities of Tenant
hereunder, (v) in the case of a sublease, (A) Landlord is not, and will not become, a party to such sublease, and (B) Landlord’s consent to such sublease does not create a contractual relationship between Landlord and such
sublessee, nor does it create any liability of Landlord to such sublessee, (vi) Landlord’s consent to such assignment or sublease does not affect the obligations of Landlord or Tenant under this Lease, and (vii) Landlord’s
consent to such assignment or sublease shall not be construed to mean that Landlord has approved any plans or specifications for renovations to the Premises intended by such assignee or sublessee and that any such work to the Premises must be
conducted in accordance with the terms of this Lease. Any such instrument of assignment or sublease which does not provide the applicable subsections (i) - (vii) above shall be null and void and of no force and effect. If this Lease is or shall be
assigned by Landlord to the holder of a mortgage against the Building as additional security for such mortgage loan, the consent of such holder (if required by the terms of the applicable loan documents) shall be required in addition to any consents
by Landlord under the terms of this Section 8.1. 
 Section 8.2 Transfers. Notwithstanding the foregoing, “sublet”
shall not be deemed to include any transfer, assignment or subletting of the Premises (or any portion thereof) to any entity which controls, is controlled by, or is under common control with Tenant; to any entity which results from a merger of,
reorganization of or consolidation with Tenant; or to any entity which acquires substantially all of the assets of Tenant, as a going concern, with respect to the business that is being conducted in the Premises; nor shall “sublet” include
the transfer of the beneficial ownership or effective voting control of Tenant from the person(s) having effective voting control as of the date of Tenant’s execution of this Lease, where such transfer occurs in 

  

 10. 

 
connection with any bona fide financing or capitalization for the benefit of Tenant; provided, however, that under all of the foregoing circumstances, Tenant
must continue as an existing entity in substantially the same corporate form and with substantially the same, or greater, net worth as it had immediately prior to such transfer, assignment or subletting, all of which shall be proven to
Landlord’s satisfaction at least thirty (30) days prior to such transfer, assignment or subletting when Tenant provides prior written notice to Landlord. 
 ARTICLE 9 
 MAINTENANCE AND REPAIRS 
 Section 9.1 Maintenance and Repairs. Tenant shall, at its own expense, maintain the Premises and all of Tenant’s property in good, clean
and safe condition, promptly making all necessary repairs and replacements and, at the conclusion of the Lease Term, shall surrender the Premises, broom clean, in the same order and condition they were in on the Lease Commencement Date (unless
otherwise directed by Landlord), ordinary wear and tear excepted. Tenant shall repair at its expense, any and all damage caused by Tenant or Tenant’s agents, employees, subtenants, licenses, contractors, customers, clients, family members, or
invitees, to the Building, Common Area, the Premises and Tenant’s property, including equipment within and serving the Building, ordinary wear and tear excepted, except that Landlord shall have the right to make such repairs and to charge
Tenant all costs and expenses incurred as additional rent. Such maintenance and repairs shall be performed with due diligence, lien-free and in a first-class workmanlike manner, by such contractor(s) selected by Tenant and approved by Landlord,
which approval shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, Tenant shall bear the cost of, but shall not itself perform any such repairs which (i) would affect the Building’s structure
mechanical or electrical systems or (ii) would be visible from the exterior of the Building. Where Landlord performs such repairs, Tenant shall promptly pay to Landlord within ten (10) days upon demand all costs incurred in connection
therewith. Tenant shall not have access to the roof of the Building for any purpose whatsoever without the prior written consent of the Landlord, which consent may be withheld in Landlord’s sole discretion. 
 Section 9.2 Landlord’s Maintenance and Repairs. Landlord shall endeavor to maintain and keep in repair the roof, foundation and exterior
walls of the Building and the Building heating, ventilating and air-conditioning, plumbing, electrical and elevator systems and shall make such repairs as become necessary after obtaining actual knowledge of the need for such repairs. Tenant shall
immediately give Landlord written notice of any defect or need for repairs. After such notice, Landlord shall have a reasonable opportunity to repair or cure such defect. Landlord’s liability with respect to any defects, repairs or maintenance
for which Landlord is responsible under any of the provisions of this lease is limited to the cost of such repairs or maintenance or the curing of such defect. To the extent required by applicable fire or life safety legislation, Landlord shall
improve the Building at Landlord’s expense. 
  

 11. 

 ARTICLE 10 
 ALTERATIONS 
 Section 10.1 Landlord’s Work. Tenant agrees to and shall lease the
Premises in its “AS IS” condition as of the date of this Lease, and it is understood and agreed that Landlord will not make, and is under no obligation to make, any structural or other alterations, decorations, additions, or improvements
in or to the Premises. 
 Section 10.2 Tenant’s Improvements. As to any Improvements (as hereinafter defined), Tenant and
Tenant’s contractors shall abide by Landlord’s “Contractor Rules and Regulations” attached hereto as EXHIBIT E and any modifications therein by Landlord. Landlord agrees to provide Tenant an
improvement allowance in the amount of One Hundred One Thousand Three Hundred Fifty-Five and No/100 Dollars ($101,355.00) (the “Allowance”). Landlord shall make disbursements of the Allowance directly to Tenant’s
Contractors upon presentation of invoices for completed work. Landlord shall have the right to require mechanics lien waivers from Tenant’s Contractors prior to distribution of the Allowance. Notwithstanding the foregoing, Tenant shall not make
or permit anyone to make any alterations, decorations, additions, or improvements (hereinafter referred to collectively as “Improvements”), structural or otherwise, in or to the Premises or the Building without the prior
written consent of Landlord, which consent may not be unreasonably withheld, conditioned, or delayed. When granting its consent, Landlord may impose reasonable conditions, including without limitation, the approval of plans and specifications,
approval of the contractor or other persons to perform the work, and the obtaining of a performance bond in an amount specified by Landlord and specified insurance. All Improvements permitted by Landlord must conform to all rules and regulations
established from time to time by the Board of Fire Underwriters having jurisdiction or any similar body exercising similar functions, and to all laws, regulations, and requirements of the Federal and/or District of Columbia governments. As a
condition precedent to such written consent of Landlord, Tenant agrees to obtain and deliver to Landlord written, unconditional waivers of mechanic’s and materialmen’s liens against the Building and the Land upon which it is situated from
all work, labor, and services to be performed and materials to be furnished in connection with Improvements to the Premises. If, notwithstanding the foregoing, any mechanic’s or materialmen’s lien is filed against the Premises,
Tenant’s interest therein, the Building, and/or the Land upon which it is situated for work claimed to have been done for, or materials claimed to have been furnished to, the Premises or to Tenant, such lien shall be discharged by Tenant within
five (5) days after notice, at Tenant’s sole cost and expense, by the payment thereof or by the filing of a bond. If Tenant shall fail to discharge any such mechanic’s or materialmen’s lien, Landlord may, at its sole option,
discharge such lien and treat the cost thereof (including attorneys’ fees incurred in connection therewith) as additional rent payable with the next fixed monthly rent payment falling due. It is expressly agreed that such discharge by Landlord
shall not be deemed to waive or release the default of Tenant in not discharging such lien. It is further understood and agreed that any alterations, decorations, additions, or Improvements to the Premises, other than those made by Landlord
directly, shall be conducted on behalf of Tenant and not on behalf of Landlord, and that Tenant shall not be deemed to be the agent of Landlord. It is further understood and agreed that in the event Landlord shall give its written consent to the
making of any Improvements to the Premises, such written consent shall not be deemed to be an agreement or consent by Landlord to subject its interest in the Premises, any leasehold or other interest of Tenant in the Premises, the Building or the
Land upon which it is situated to any mechanic’s or materialmen’s liens which may be filed in connection therewith. 
  

 12. 

 Section 10.3 Indemnification for Improvements. Tenant shall indemnify and hold Landlord
harmless from and against any and all expenses, liens, claims, liabilities, and damages based on or arising directly or indirectly by reason of the Tenant making of any Improvements to the Premises. If any Improvements are made without the prior
written consent of Landlord, Landlord shall have the right to remove and correct such Improvements and restore the Premises to their condition immediately prior thereto and Tenant shall be liable for all expenses incurred by Landlord in connection
therewith. All improvements to the Premises or the Building made by either party shall immediately become the property of Landlord and shall remain upon and be surrendered with the Premises as part thereof at the end of the Lease Term except that
(1) if Tenant is not in default under this Lease, Tenant shall have the right to remove, prior to the expiration of the Lease Term, all movable furniture, furnishings and equipment installed in the Premises solely at the expense of Tenant, and
(2) Landlord shall have the right to require Tenant to remove all tenant Improvements and fixtures at the end of the Lease Term at the sole cost of Tenant. All damage and injury to the Premises or the Building caused by such removal shall be
repaired by Tenant, at Tenant’s sole expense. If such property of Tenant is not removed by Tenant prior to the expiration or termination of this Lease, the same shall be deemed to have been abandoned by Tenant and to have become the property of
Landlord and shall be surrendered with the Premises as a part thereof, which property may be retained by Landlord or disposed of at Tenant’s expense. Tenant’s obligation to pay for any costs incurred by Landlord for the disposal of such
abandoned property shall survive the expiration or earlier termination of this Lease. 
 ARTICLE 11 
 SIGNS AND FURNISHINGS 
 Section 11.1 Signs. No sign, advertisement, or notice shall be inscribed, painted, affixed, or otherwise displayed by Tenant on any part of the exterior or the interior of the Premises or the Building except on the directories
and the doors of offices and such other areas as are designated by Landlord, and then only in such place, number, size, color, and style as are approved by Landlord in its sole and absolute discretion. All of Tenant’s signs that are approved by
Landlord shall be obtained by Tenant at its sole cost and expense and installed by Landlord at Tenant’s sole cost and expense. Tenant shall reimburse Landlord for such amount upon written demand from Landlord. If any sign, advertisement or
notice that has not been approved by Landlord is exhibited or installed by Tenant, Landlord shall have the right to remove the same at Tenant’s expense. Landlord shall have the right to prohibit any advertisement of or by Tenant which in
Landlord’s opinion tends to impair the reputation of the Building or its desirability as a high-quality office building and, upon written notice from Landlord, Tenant shall immediately refrain from and discontinue any such advertisement.
Landlord reserves the right to affix, install, and display signs, advertisements, and notices on any part of the exterior or interior of the Building except the Premises. Landlord shall provide a standard listing on the Building’s lobby
directory at Landlord’s sole cost and expense. 
  

 13. 

 Section 11.2 Furnishings. Landlord shall provide to Tenant for its use during the Term the
five (5) desks and five (5) chairs previously identified and agreed upon by the parties. Said furniture shall be returned in good condition to Landlord at the end of the Term, reasonable wear and tear excepted. Landlord shall have the
right to prescribe the weight and position of file systems, safes, computer systems, and other heavy items, equipment, and fixtures, which shall, if considered necessary by Landlord, be positioned in consultation with Landlord in order to distribute
their weight. Any and all damage or injury to the Premises or the Building caused by moving the property of Tenant into or out of the Premises, or due to the same being in or upon the Premises, shall be repaired by and at the sole cost of Tenant. No
furniture, equipment, or other bulky matter of any description will be received into the Building or carried in the elevators except as approved by Landlord and all such furniture, equipment, and other bulky matter shall be delivered only through
the designated delivery entrance of the Building and the designated freight elevator. All moving of furniture, equipment, and other materials shall be under the direct control and supervision of Landlord who shall not, however, be responsible for
any damage to or charges for moving the same. Tenant agrees promptly to remove from the sidewalks adjacent to the Building any of Tenant’s furniture, equipment, or other materials there delivered or deposited. 
 ARTICLE 12 
 TENANT’S EQUIPMENT

 Tenant will not install or operate in the Premises any electrically operated equipment or machinery that operates on greater than 110
volt power or anything other than normal office equipment and appliances, without first obtaining the prior written consent of Landlord, which consent shall be in Landlord’s sole and absolute discretion and, without limitation, Landlord may
condition such consent upon the payment by Tenant of additional rent in compensation for the excess consumption of electricity or other utilities (including, but not limited to, any excess utility, sales or other taxes and resultant increases in
electricity charges for the Building) and for the cost of any additional wiring or apparatus that may be occasioned by the operation of such equipment or machinery. Tenant shall not install any equipment of any type or nature that will or may
necessitate any changes, replacement or additions to, or in the use of, the water system, heating system, plumbing system, air-conditioning system or electrical system of the Premises or in the Building, without first obtaining the prior written
consent of Landlord, which consent shall be in Landlord’s sole and absolute discretion. Any machines and mechanical equipment belonging to Tenant which causes noise or vibrations that may be transmitted to the structure of the Building or to
any space therein to such a degree as to be objectionable to Landlord or to any tenant in the Building shall be installed and maintained by Tenant, at Tenant’s expense, on vibration eliminators or other devices sufficient to reduce such noise
and vibration to a level satisfactory to Landlord, or shall be removed from the Premises. 
 ARTICLE 13 
 INSPECTIONS BY LANDLORD 
 Tenant shall
permit Landlord or its agents or representatives to enter the Premises, at any time and from time to time, without charge therefor to Landlord and without diminution of the 

  

 14. 

 
rent payable by Tenant, to examine, inspect, and protect the Premises and the Building, to make such alterations and/or repairs at Landlord’s sole cost
and expense, as in Landlord’s sole judgment may be deemed necessary, unless any given condition requiring correction was caused by Tenant, or to exhibit the same to prospective mortgagees and, during the last twelve (12) months of the
Lease Term, to prospective tenants. In connection with any such entry, Landlord shall endeavor to minimize the disruption to Tenant’s use of the Premises, but Landlord shall not be required to perform any alterations or repairs at a time other
than normal working hours. 
 ARTICLE 14 
 INSURANCE 
 Section 14.1 Tenant’s Insurance. Tenant covenants and agrees to procure
at its expense on or before the Lease Commencement Date and to keep in force during the Lease Term naming Landlord, DuPont Fabros Development LLC, Jaguar Management LLC, its management agent for the Property (the “Agent”),
and Tenant as insured parties: (x) a commercial general liability insurance policy or such successor comparable form of coverage in the broadest form then available (hereinafter referred to as a “Liability Policy”)
written on an “occurrence basis” including without limitation, blanket contractual liability coverage, broad form property damage, independent contractor’s coverage and personal injury coverage, protecting Landlord, the Agent and
Tenant against any liability whatsoever, occasioned by any occurrence on or about the Premises or any appurtenances thereto, (y) a fire and other casualty policy (a “Fire Policy”) insuring the full replacement value of
Tenant’s leasehold improvements, regardless of by whom installed, and all of the furniture, trade fixtures and other personal property of Tenant located in the Premises against loss or damage by fire, theft and such other risks or hazards, and
(z) a policy of insurance against loss or damage to the major components of the air-conditioning and heating system, flywheels, steam pipes, steam turbines, steam engineer, steam boilers, and other pressure vessels, high pressure piping and
machinery, if any, such as are installed by or on behalf of Tenant in the Premises except as to items of Landlord’s Work. Such policies shall also insure against physical damage to the Premises arising out of an accident covered thereunder;
such policies are to be written by good and solvent insurance companies licensed to do business in the District of Columbia satisfactory to Landlord, shall have not less than a Best’s A+ 10 rating and shall be in such limits and with such
maximum deductibles as Landlord may reasonably require. As of the date of this Lease, Landlord reasonably requires limits of liability under: clause (x) above, the Liability Policy of not less than $2,000,000 combined single limit per
occurrence for bodily or personal injury (including, death); clause (y) above, the value of Tenant’s leasehold improvements, furniture, trade fixtures and other personal property with a deductible of no more than $1,000.00; and clause
(z) above, machinery insurance for full replacement cost of equipment with a deductible of no more than $1,000.00. Tenant will furnish Landlord with such information as Landlord may reasonably request from time to time as to the value of the
items specified in clause (y) above within ten (10) days after request therefor. Such insurance may be carried under a blanket policy covering the Premises and other locations of Tenant, if any, provided that each such policy shall in all
respects comply with this Article and shall specify (i) that the portion of the total coverage of such policy that is allocated to the Premises is in the amounts required pursuant to this Section 14.1 and (ii) any sublimits in such
blanket policy and such policy shall specify, or Tenant shall furnish Landlord a written statement from the insurer under such policy, that the protection afforded Tenant under any such blanket policy shall be no 

  

 15. 

 
less than that which would have been afforded under a separate policy relating only to the Premises. Prior to the time insurance under this Section 14.1
is first required to be carried by Tenant and thereafter, at least 30 days prior to the expiration date of any such policy, Tenant agrees to deliver to Landlord a certificate evidencing such insurance and payment of the premium therefor. Said
certificate shall contain an endorsement that such insurance may not be canceled or amended except upon 30 days’ prior written notice to Landlord. Tenant’s failure to provide and keep in force the aforementioned insurance shall be regarded
as a material default hereunder entitling Landlord to exercise any or all of the remedies provided in this Lease in the event of Tenant’s default. Notwithstanding, anything to the contrary contained in this Lease, the carrying of insurance by
Tenant in compliance with this Section shall not modify, reduce, limit or impair Tenant’s obligations and liabilities under any and every indemnity by Tenant to Landlord set forth in this Lease. 
 Section 14.2 Indemnity by Tenant. Tenant shall indemnify and defend Landlord and save it harmless from and against any and all liabilities,
damages, costs or expenses, including attorneys’ fees, arising from any act, omission, or negligence of Tenant or its officers, contractors, licensees, agents, employees, guests, invitees, or visitors in or about the Building, the Premises or
the Property or arising (i) from Tenant’s or its agent’s use, occupancy, repair or maintenance of the Premises, the Building or the common area or the business conducted by Tenant therein, (ii) from any breach or default under
this Lease by Tenant, or (iii) from, or relating to, the enforcement by Landlord of the provisions of this Lease as against Tenant, or arising from any accident, injury, or damage, howsoever and by whomsoever caused, to any person or property,
occurring in or about the Building, the Premises or the Property. This provision shall not be construed to make Tenant responsible for loss, damage liability or expense resulting from injuries to third parties to the extent caused solely and
directly by the negligence of Landlord, or its officers, contractors, licensees, agents, employees, or invitees. 
 Section 14.3
Increases in Insurance Rates. Tenant shall not do or permit to be done any act or thing upon or about the Premises or the Property, which will (i) result in the assertion of any defense by the insurer or any claim under,
(ii) invalidate or (iii) be in conflict with, the policies covering the Building, the Property, and fixtures and property therein, or which would increase the rate of fire insurance applicable to the Property to an amount higher than it
otherwise would be; and Tenant shall neither do nor permit to be done any act or thing, upon or about the Premises or the Property which shall or might subject Landlord to any liability or responsibility for injury to any person or persons or to
property; but nothing in this Section shall prevent Tenant’s use of the Premises for the purposes stated in this Lease. If, as a result of any act or omission by or on the part of Tenant or violation of this Lease by Tenant, whether or not
Landlord has consented to the same, the rate of “All Risk” or other type of insurance maintained by Landlord on the Building, shall be increased to an amount higher than it otherwise would be, Tenant shall reimburse Landlord for all
increases of Landlord’s insurance premiums so caused, through the end of the policy year during which the insurance premium was increased; such reimbursement to be additional rent payable within 5 days after demand therefor by Landlord. If, due
to abandonment of, or failure to occupy the Premises by Tenant, any such insurance shall be canceled by the insurance carrier, then Tenant hereby indemnifies Landlord against liability which would have been covered by such insurance. In any action
or proceeding wherein Landlord and Tenant are parties, a schedule or “make-up” of rates for the Property or Premises issued by the body making fire insurance rates or established by insurance carrier providing, 

  

 16. 

 
coverage for the Property or Premises shall be presumptive evidence of the facts stated therein including the items and charges taken into consideration in
fixing the “All Risk” insurance rate then applicable to the Building or Premises. 
 Section 14.4 Notice of Accidents.
Tenant shall immediately give Landlord written notice in case of fire or accidents in the Premises. 
 Section 14.5 Waiver of
Subrogation. Notwithstanding anything to the contrary contained in this Lease, Tenant agrees that it will, at its sole cost and expense, include in its property insurance policies appropriate clauses pursuant to which the insurance companies
(i) waive all right of subrogation against Landlord, and any tenant of space in the Building, with respect to losses payable under such policies, and (ii) agree that such policies shall not be invalidated should the insured waive in
writing prior to a loss any or all right of recovery against any party for losses covered by such policies. Tenant shall furnish Landlord evidence satisfactory to Landlord evidencing the inclusion of said clauses in Tenant’s property insurance
policies. Provided that Landlord’s right of full recovery under its property insurance policies is not adversely affected or prejudiced thereby, Landlord hereby waives any and all right of recovery which it might otherwise have against Tenant,
its servants, agents and employees, for loss or damage occurring to the Building and fixtures, appurtenances and equipment therein, to the extent the same is covered by Landlord’s insurance, notwithstanding, that such loss or damage may result
from the negligence or fault of Tenant, its servants, employees or agents. Tenant hereby waives any and all right of recovery which it might otherwise have against Landlord, its agents, servants and employees, and against every other tenant in the
Building which shall have executed a similar waiver as set forth in this Section, for loss or damage to Tenant’s furniture, furnishings, fixtures and other property removable by Tenant under the provisions hereof to the extent that same is
covered by Tenant’s insurance, as required by this Lease whether or not such insurance is maintained, notwithstanding that such loss or damage may result from the negligence or fault of Landlord, its servants, agents or employees, or such other
tenant or the servants, agents or employees thereof. 
 ARTICLE 15 
 SERVICES AND UTILITIES 
 Section 15.1 Services and Utilities.
Subject to Force Majeure events, Landlord shall furnish to the Premises (through the existing Building system), during normal hours of operations of the Building, air-conditioning and heat during the seasons when they are required, as and to the
extent determined in Landlord’s reasonable judgment. Landlord shall also provide to the Premises electricity and water, 24 hours per day, for standard office equipment, as and to the extent determined by Landlord. Landlord shall provide char
and janitorial service after 6:00 p.m. on Monday through Friday only (excluding legal holidays), as specified in EXHIBIT D hereto. Landlord will also provide at least one elevator subject to call; provided, however, that
Landlord shall have the right to remove elevators from service as may be required for moving freight, or for servicing or maintaining the elevators and/or the Building. The normal hours of operation of the Building will be 8:00 a.m. to 6:00 p.m. on
Monday through Friday (except legal holidays) and 8:00 a.m. to 1:00 p.m. on Saturday (except legal holidays). There will be no normal hours of operation of the Building on Sundays or legal holidays and Landlord shall not be 

  

 17. 

 
obligated to maintain or operate the Building at such times unless special arrangements are made by Tenant. Tenant shall have access to the Building and the
Premises twenty-four (24) hours per day, three hundred sixty-five (365) days per year, (i) subject to such access control procedures, restrictions and other regulations as Landlord may promulgate, (ii) subject to exclusion during
emergencies or repairs if, in Landlord’s sole judgment, such exclusion is necessary, and (iii) for after hours access, via an electronic or other access control system. Landlord shall provide all electric bulbs and fluorescent tubes in
Building standard light fixtures in the public areas of the Building, and fifteen keys to the Leased Premises at no cost to Tenant, but all additional keys including replacements for lost keys shall be issued only upon the payment of a reasonable
cost for each additional key. Tenant shall pay for the replacement of all above standard light bulbs. Landlord will not be required to furnish Tenant with any other services except as expressly provided in this Lease. 
 Landlord will furnish all services and utilities required by this Lease only during the normal hours of operation of the Building unless otherwise
specified herein. It is also agreed that if Tenant requires air-conditioning or heat beyond the normal hours of operation set forth herein, Landlord will furnish such air-conditioning or heat provided Tenant gives Landlord’s agent sufficient
advance notice of such requirement, and Tenant hereby agrees to pay for such extra service in accordance with Landlord’s then current schedule of costs and assessments for such extra service. Tenant shall also be responsible for and agrees to
pay the cost of all above-standard or non-standard uses of the utilities and services provided to the Premises. 
 Section 15.2
Interruption of Services and Utilities. No damages, compensation, or claim shall be payable by Landlord, and this Lease and the obligations of Tenant to perform all of its covenants and agreements hereunder shall in no way be affected, impaired,
reduced, or excused, in the event that there shall be an interruption, curtailment, or suspension of the Building’s HVAC, utility, sanitary, elevator, water, telecommunications, security (including equipment devices and/or personnel, if any),
or other Building systems serving the Premises or any other services required of Landlord under this Lease (an “Interruption of Services”), by reason of: (i) any casualty, including casualty caused by fire, war,
terrorism, and bioterrorism (“Casualty”); (ii) an accident; (iii) an emergency; (iv) shortages of labor or materials; or (v) any other causes of any kind whatsoever that are beyond the control of Landlord, including,
but not limited to: (A) lack of access to the Building or the Premises (which shall include, but not be limited to, the lack of access to the Building or the Premises when it or they are structurally sound but inaccessible due to evacuation of
the surrounding area or damage to nearby structures or public areas); (B) any cause outside the Building; (C) reduced air quality or other contaminants within the Building that would adversely affect the Building or its occupants
(including, but not limited to the presence of biological or other airborne agents within the Building or the Premises); (D) disruption of mail and deliveries to the Building or the Premises resulting from a Casualty; (E) disruption of
telephone and telecommunications services to the Building or the Premises resulting from a Casualty; or (F) blockages of any windows, doors, or walkways to the Building or the Premises resulting from a Casualty. 
 Landlord reserves the right, without any liability to Tenant, except as otherwise expressly provided in this Lease, and without being in breach of any
covenant of this Lease, to effect an Interruption of Service, as required by this Lease or by law, or as Landlord in good faith deems advisable, whenever and for so long as may be necessary, to make repairs, alterations, upgrades, 

  

 18. 

 
changes, or for any other reason, to the Building’s HVAC, utility, sanitary, elevator, water, telecommunications, security, or other Building systems
serving the Premises, or any other services required of Landlord under this Lease. 
 In each instance, Landlord shall exercise reasonable
diligence to eliminate the cause of the Interruption of Service, if resulting from conditions within the Building and to conclude the Interruption of Service. Landlord shall give Tenant notice, when practicable, of the commencement and anticipated
duration of such Interruption of Services. 
 The occurrence of an Interruption of Service pursuant to this Section 15.2 shall not:
(i) constitute an actual or constructive eviction of Tenant, in whole or in part; (ii) entitle Tenant to any abatement or diminution of rent, additional rent, or any other costs due from Tenant pursuant to this Lease; (iii) relieve or
release Tenant from any of its obligations under this Lease; or (iv) entitle Tenant to terminate this Lease. 
 Section 15.3
Conservation Controls. The parties hereto agree to comply with all mandatory and voluntary energy, water, or other conservation controls or requirements applicable to office buildings required by the Federal or District of Columbia governments
or any public utility or insurance carrier including, without limitation, controls on the permitted range of temperature settings in office buildings or requirements necessitating curtailment of the volume of energy consumption or the hours of
operation of the Building. Any terms or conditions of this Lease that conflict or interfere with compliance by Landlord with such controls or requirements shall be suspended for the duration of such controls or requirements. It is further agreed
that compliance with such controls or requirements shall not be considered an eviction, actual or constructive, of Tenant from the Premises and shall not entitle Tenant to terminate this Lease or to an abatement or reduction of any rent payable
hereunder. 
 ARTICLE 16 
 LIABILITY OF LANDLORD 
 Section 16.1 No Liability of Landlord. Landlord shall not be liable to Tenant, its
employees, agents, business invitees, licensees, customers, clients, family members or guests for any damage, injury (including death), loss, compensation, or claim, including, but not limited to, claims for the interruption or loss of Tenant’s
business, based on, arising out of, or resulting from any cause whatsoever, including, but not limited to, the following: repairs to any portion of the Premises or the Building; the negligence of Landlord or any of its servants, agents or employees;
interruption in the use of the Premises; any accident or damage resulting from the use or operation (by Landlord, Tenant, or any other person or persons) of elevators, or of the heating, air-conditioning, electrical, or plumbing equipment or
apparatus; the termination of this Lease by reason of the destruction of the Premises; any fire, explosion, falling plaster, steam, gas, robbery, theft, mysterious disappearance, and/or any other casualty; the actions of any other tenants of the
Building or of any other person or persons; any failure or inability to furnish any of the utilities or services required to be furnished by Landlord hereunder; any leakage in any part or portion of the Premises or the Building, or from water, rain
or snow that may leak into, or flow from, any part of the Premises or the Building, or from drains, pipes, appliances or plumbing work in the Building or from the roof, street or subsurface or resulting from dampness or from any other 

  

 19. 

 
cause of whatsoever nature. The occurrence of any of the foregoing items described in this Section shall not be considered an eviction, actual or
constructive, of Tenant from the Premises and shall not entitle Tenant to terminate this Lease or to an abatement, set-off, counterclaim against, or reduction of, any rent payable hereunder. Any goods, property, or personal effects stored or placed
by Tenant or its employees in or about the Premises or Building shall be at the sole risk of Tenant, and Landlord shall not in any manner be held responsible therefor. It is understood that the employees of Landlord are prohibited from receiving any
packages or other articles delivered to the Building for Tenant, and if any such employee receives any such package or articles, such employee shall be acting as the agent of Tenant for such purposes and not as the agent of Landlord. In no event
shall Tenant make any claim against Landlord for consequential, indirect or special damages. Notwithstanding the foregoing provisions of this Section 16.1, Landlord shall not be released from liability to Tenant for any damage or injury caused
by the willful misconduct of Landlord or its employees. 
 Section 16.2 Transfer by Landlord. In the event that at any time
Landlord shall sell or transfer the Building, the Landlord named herein shall not be liable to Tenant for any obligations or liabilities based on or arising out of events or conditions occurring on or after the date of settlement and recordation of
the deed pursuant to such sale or transfer. 
 Section 16.3 Disputed Payments. In the event that at any time during the Lease
Term Tenant shall have a claim against Landlord, Tenant shall not have the right to deduct the amount allegedly owed to Tenant from any rent or other sums payable to Landlord hereunder, it being understood that Tenant’s sole method for
recovering upon such claim shall be to institute an independent action against Landlord. 
 Section 16.4 Attorneys’ Fees.
If, as a result of any alleged breach or default in the performance of any of the provisions of this Lease, Landlord uses the services of an attorney in order to secure compliance with such provisions or recover damages therefor or possession of
the Premises, or if Landlord is made a party to any action as a result of any alleged act or failure to act of Tenant, then Tenant shall reimburse Landlord, upon demand for any and all reasonable attorneys’ fees and expenses so incurred by
Landlord, as additional rent within five (5) days after Landlord’s demand therefor. 
 Section 16.5 Extent of
Landlord’s Liability. Notwithstanding any other provision of this Lease whatsoever, no recourse shall be had on any of Landlord’s obligations hereunder or for any claim based thereon or otherwise in respect thereof against any
incorporator, subscriber to the capital stock, shareholder, officer or director, past, present or future, of any corporation, or any partner or joint venturer of any partnership or joint venture, which shall be Landlord hereunder or included in the
term “Landlord” or of any successor of any such corporation, partnership or joint venture, or against any principal, disclosed or undisclosed, or any affiliate of any party which shall be Landlord or included in the term
“Landlord”, whether directly or through Landlord or through any receiver, assignee, trustee in bankruptcy or through any other person, firm or corporation, whether by virtue of any constitution, statute or rule of law or by enforcement of
any assessment or penalty or otherwise, all such liability being expressly waived and released by Tenant. Tenant shall look solely to Landlord’s estate and interest in the Property, or the lease of the Building or of the Property, and the
Premises, for the satisfaction of any right or remedy of Tenant for the collection of a judgment or other judicial process or 

  

 20. 

 
arbitration award requiring the payment of money by Landlord and no other property or assets of Landlord, Landlord’s agents, incorporators,
shareholders, officers, directors, partners, principals (disclosed or undisclosed) or affiliates shall be subject to levy, lien, execution, attachment, or other enforcement procedure for the satisfaction of Tenant’s rights and remedies under or
with respect to this Lease, the relationship of Landlord and Tenant hereunder or under law, or Tenant’s use and occupancy of the Premises, or any other liability of Landlord to Tenant. 
 ARTICLE 17 
 RULES AND REGULATIONS 
 Tenant and its agents, employees, invitees, licensees, customers, clients, family members, guests and permitted subtenants shall at all times abide by
and observe the rules and regulations promulgated by Landlord and attached hereto as EXHIBIT C. In addition, Tenant and its agents, employees, invitees, licensees, customers, clients, family members, guests and permitted
subtenants shall abide by and observe all other rules or regulations that Landlord may promulgate from time to time for the operation and maintenance of the Building, provided that notice thereof is given to Tenant and such rules and regulations are
not inconsistent with provisions of this Lease. Nothing contained in this Lease shall be construed as imposing upon Landlord any duty or obligation to enforce such rules and regulations or the terms, conditions, or covenants contained in any other
lease, as against any other tenant, and Landlord shall not be liable to Tenant for the violation of such rules or regulations by any other tenant or its employees, agents, business invitees, licensees, customers, clients, family members or guests.

 ARTICLE 18 
 DAMAGE
OR DESTRUCTION 
 Section 18.1 Casualty. If during the Lease Term the Premises or the Building are totally or partially
damaged or destroyed by a casualty, thereby rendering the Premises totally or partially inaccessible or unusable, Landlord shall diligently (taking into account the time necessary to effectuate a satisfactory settlement with any insurance company
involved) restore and repair the Premises and the Building to substantially the same condition in which they were prior to such damage; provided, however, that Landlord’s obligation to repair such damage shall not exceed the proceeds of
insurance available to Landlord (reduced by any proceeds retained pursuant to the rights of Mortgagee). If such damage or destruction was caused by the act or omission of Tenant or any of its employees, agents, licensees, subtenants, customers,
clients, family members, or guests, upon written demand from Landlord, Tenant shall pay to Landlord the amount by which such costs and expenses exceed the insurance proceeds, if any, received by Landlord on account of such damage or destruction.
Notwithstanding the foregoing, if, in Landlord’s sole judgment, the repairs and restoration cannot be completed within one hundred twenty (120) days after the occurrence of such damage (taking into account the time needed for removal of
debris, preparation of plans, and issuance of all required governmental permits), Landlord shall have the right, at its sole option, to terminate this Lease by giving written notice of termination to Tenant within forty-five (45) days after the
occurrence of such damage. If this Lease is terminated pursuant to the preceding sentence, all rent payable hereunder shall be apportioned and paid to the date of the occurrence of such damage. If this Lease is not 

  

 21. 

 
terminated as a result of damage, and provided that such damage was not caused by the act or omission of Tenant or any of its employees, agents, licensees,
subtenants, customers, clients, family members, or guests, until the repair and restoration of the Premises is completed Tenant shall be required to pay fixed monthly rent and additional rent only for that part of the Premises that Tenant is able to
use while repairs are being made, based on the ratio that the amount of usable rentable area bears to the total rentable area in the Premises. 
 Section 18.2 Limitations on Landlord’s Obligations. Notwithstanding anything in Section 18.1 or any other part of this Lease, if Landlord is obligated to repair and restore the Premises as provided in
Section 18.1, Landlord shall not be required to repair or restore any decorations, alterations, or Improvements (as defined in Section 10.2) to the Premises previously made (regardless of by whom made) or any trade fixtures, furnishings,
equipment, or personal property belonging to Tenant. It shall be Tenant’s sole responsibility to repair and restore all such items. 
 Section 18.3 Right to Terminate. Notwithstanding anything to the contrary contained herein, if there is a destruction of the Building that exceeds twenty-five percent (25%) of the replacement value of the Building from any
risk, whether or not the Premises are damaged or destroyed, Landlord shall have the right to terminate this Lease by written notice to Tenant. 
 ARTICLE 19 
 CONDEMNATION 
 Section 19.1 Termination for Condemnation. If the whole or a substantial part (as hereinafter defined) of the Premises and/or the Building or the use or occupancy of the Premises shall be taken or
condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including a sale thereof under threat of such taking), then this Lease shall terminate on the date title thereto vests in such governmental
or quasi-governmental authority, and all rent payable hereunder shall be apportioned as of such date. If less than a substantial part of the Premises (or the use and occupancy thereof) is taken or condemned by any governmental or quasi-governmental
authority for any public or quasi public use or purpose (including a sale thereof under threat of such a taking), this Lease shall continue in full force and effect, but the fixed monthly rent and additional rent thereafter payable hereunder shall
be equitably adjusted (on the basis of the ratio of the number of square feet of rentable area taken to the total rentable area in the Premises prior to such taking) as of the date title vests in the governmental or quasi-governmental authority. For
purposes of this Section 19.1, a substantial part of the Premises shall be considered to have been taken if more than twenty-five percent (25%) of the Premises is rendered unusable as a result of such taking. 
 Section 19.2 Award. All awards, damages, and other compensation paid by the condemning authority on account of the taking or condemnation (or
sale under threat of such a taking) shall belong to Landlord, and Tenant hereby assigns to Landlord all rights to such awards, damages and compensation. Tenant agrees not to make any claim against Landlord or the condemning authority for any portion
of such award or compensation attributable to damages to the Premises, the value of the unexpired term of this Lease, the loss of profits or goodwill, leasehold improvements or severance damages. Nothing contained herein, however, shall 

  

 22. 

 
prevent Tenant from pursuing a separate claim against the condemning authority for the value of furnishings, equipment and trade fixtures installed in the
Premises at Tenant’s expense and for relocation expenses, provided that such claim shall in no way diminish the award or compensation payable to or recoverable by Landlord in connection with such taking or condemnation. 
 ARTICLE 20 
 DEFAULT BY TENANT 

 Section 20.1 Defaults. The occurrence of any of the following shall constitute a default by Tenant under this Lease:

 (a) If, following ten (10) days written notice from Landlord, Tenant fails to make any payment of fixed annual rent, fixed
monthly rent, additional rent, or any other sum due under this Lease when due. 
 (b) If Tenant violates or fails to perform any other
term, condition, covenant or agreement to be performed or observed by Tenant under this Lease (other than as specified in Sections 20.1 (a), 20.1 (c) through (g), 20.2, 21.1 and 24.2), and such violation or failure shall continue for thirty
(30) days after written notice from Landlord to Tenant of such violation or failure. 
 (c) If Tenant abandons or vacates the
Premises. 
 (d) If Tenant or any guarantor (i) is voluntarily adjudicated a bankrupt or insolvent, (ii) seeks or consents
to the appointment of a receiver or trustee for itself or for all or a part of its property, (iii) files a petition seeking relief under the bankruptcy or similar laws of the United States or any state or any other jurisdiction, (iv) makes
a general assignment for the benefit of creditors, or (v) admits in writing its inability to pay its debts as they mature. 
 (e)
If a petition is filed against Tenant or any guarantor seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal or state law or other statute, law, or
regulation and shall remain undismissed or unstayed for thirty (30) days, or if any trustee, receiver or liquidator of Tenant or any guarantor, or of all or any substantial part of its properties, shall be appointed without the consent or
acquiescence of Tenant or any guarantor, and such appointment shall remain unvacated or unstayed for thirty (30) days. 
 (f) If
any attachment or execution of any type is issued against Tenant or any guarantor, or Tenant’s property located on the Premises, or Tenant’s rights or interest in the Lease, or guarantor’s or Tenant’s assets of any type or nature
whatsoever, including but not limited to federal, state, or municipal tax liens, and such is not dismissed or, released within ten (10) days thereafter. 
 (g) If Tenant violates Article 8 of this Lease. 
  

 23. 

 Section 20.2 Landlord’s Rights. If Tenant shall be in default under this Lease, Landlord
shall have the right, at its sole option, to terminate this Lease. If suit is instituted by Landlord in connection with enforcement of any provision of this Lease against Tenant, all attorneys’ fees incurred by Landlord, together with the costs
and expenses of litigation, shall be paid by Tenant upon demand by Landlord. With or without terminating this Lease, Landlord may re-enter and take possession of the Premises and the provision of this Article 20 shall operate as a notice to quit,
and any other notice to quit or notice of Landlord’s intention to re-enter the Premises is hereby expressly waived. If necessary, Landlord may proceed to recover possession of the Premises under and by virtue of the laws of the District of
Columbia, or by such other proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this Lease, everything contained in this Lease on the part of the Landlord to be done and performed shall cease without
prejudice, however, to the right of Landlord to recover from Tenant all rent and other sums (together with the full amount of any abated rent and brokerage commissions paid by Landlord hereunder) accrued up to the time of termination or recovery of
possession by Landlord, whichever is later. Whether or not this Lease is terminated by reason of Tenant’s default, the Premises may be relet by Landlord for such rent and upon such terms as Landlord deems reasonable under the circumstances and,
if the full rental provided herein plus the costs, expenses, and damages described below shall not be realized by Landlord, Tenant shall be liable for all damages sustained by Landlord, including, without limitation, deficiency in fixed and
additional rent, return of any and all abated rent and brokerage commissions paid by Landlord hereunder, reasonable attorneys’ fees, brokerage fees and the expenses of placing the Premises in first-class rentable condition. Any damages or loss
of rent sustained by Landlord may be recovered by Landlord, at Landlord’s option, at the time of the reletting or in separate actions, from time to time, as said damage shall have been made more easily ascertainable by successive relettings,
or, at Landlord’s option, may be deferred until the expiration of the Lease Term, in which event Tenant hereby agrees that the cause of action shall not be deemed to have accrued until the date of expiration of the Lease Term. The provisions
contained in this Section 20.2 shall be in addition to, and shall not prevent the enforcement of any claim Landlord may have against Tenant for anticipatory breach of this Lease. 
 Section 20.3 Liquidated Damages. If Landlord terminates this Lease pursuant to Section 20.2, Landlord shall forthwith, upon such
termination, and any other provisions of this Lease to the contrary notwithstanding, become entitled to recover from Tenant as and for liquidated damages for Tenant’s default hereunder, the difference, discounted to present value by applying a
discount rate equal to five percent (5%), between (i) the annual fixed rent reserved hereunder for the unexpired portion of the Lease Term, and (ii) the actual rent received by Landlord for the Premises or, if not received, the estimated
cash rental value of the Premises for such unexpired portion of the Lease Term (unless the statute that governs or shall govern the proceedings in which such damages are to be proved limits or shall limit the amount of such claim capable of being so
proved, in which case Landlord shall be entitled to prove as and for liquidated damages an amount equal to that allowed by or under any such statute). The provisions of this Section shall be without prejudice to Landlord’s right to prove and
collect, in full, damages for all rent and additional rent accrued prior to the termination of this Lease, but not paid. In calculating such liquidated damages, the then cash rental value of the Premises shall be deemed prima facie to be the actual
rent received by Landlord for the Premises or, if not received, the estimated cash rental value of the Premises upon any reletting, as determined by an appraiser selected by Landlord, if such reletting can be accomplish by Landlord within a
reasonable time after the termination of this Lease. Tenant also shall not be entitled to receive any excess of any such rents collected over the rents reserved herein. 
  

 24. 

 Section 20.4 Landlord’s Rights Cumulative. All rights and remedies of Landlord set forth
herein are in addition to all other rights and remedies available to Landlord at law or in equity. All rights and remedies available to Landlord hereunder at law or in equity are expressly declared to be cumulative. The exercise by Landlord of any
such right or remedy shall not prevent the concurrent or subsequent exercise of any other right or remedy. 
 Section 20.5 No Waiver
By Landlord. No delay in the enforcement or exercise of any such right or remedy shall constitute a waiver of any default by Tenant hereunder or of any of Landlord’s rights or remedies in connection therewith. Landlord shall not be deemed
to have waived any default by Tenant hereunder unless such waiver is set forth in a written instrument signed by Landlord. If Landlord waives in writing any default by Tenant, such waiver shall not be construed as a waiver of any covenant,
condition, or agreement set forth in this Lease except as to the specific circumstances described in such written waiver. If Landlord institutes proceedings against Tenant and a compromise or settlement thereof is made, the same shall not constitute
a waiver of the same or any other covenant, condition, or agreement set forth herein nor of any of Landlord’s rights hereunder. Neither the payment by Tenant of a lesser amount than the installments of fixed rent, additional rent, or of any
sums due hereunder nor any endorsement or statement on any check or letter accompanying a check for payment of rent or other sums payable hereunder shall be deemed an accord and satisfaction, and Landlord may accept such check or payment without
prejudice to Landlord’s right to recover the balance of such rent or other sums or to pursue any other remedy available to Landlord. No reentry by Landlord, and no acceptance by Landlord of keys from Tenant, shall be considered an acceptance of
a surrender of this Lease. 
 Section 20.6 Landlord’s Right to Cure. If Tenant defaults in the making of any payment or in
the doing of any act herein required to be made or done by Tenant, then Landlord may, but shall not be required to make such payment or do such act. If Landlord elects to make such payment or do such act, all costs and expenses incurred by Landlord,
plus interest thereon at the rate of eighteen percent (18%) per annum, from the date paid by Landlord to the date of payment thereof by Tenant, shall be immediately paid by Tenant to Landlord upon demand; provided, however, that nothing
contained herein shall be construed as permitting Landlord to charge or receive interest in excess of the maximum legal rate then allowed by law. The taking of such action by Landlord shall not be considered as a cure of such default by Tenant or
prevent Landlord from pursuing any remedy it is otherwise entitled to pursue in connection with such default. 
 Section 20.7
Landlord’s Lien. Landlord shall have a lien upon, and Tenant hereby grants to Landlord a security interest in, all personal property of Tenant located in the Premises, as security for the payment of all rent and the performance of all other
obligations of Tenant required by this Lease. In order to perfect and enforce said lien and security interest, Tenant agrees to execute all required financing statements. At any time after a default by Tenant hereunder. Tenant shall not sell,
transfer or remove from the Premises all or any portion of Tenant’s property and Landlord may seize and take possession of any and all personal property belonging to Tenant which may be found in and upon the Premises. If Tenant fails to redeem
the 

  

 25. 

 
personal property so seized by payment of all sums due Landlord under and by virtue of this Lease, Landlord shall have the right, after twenty
(20) days’ written notice to Tenant, to sell such personal property so seized at public or private sale and upon such terms and conditions as may appear advantageous to Landlord. After the payment of all proper charges incident to such
sale, the proceeds thereof shall be applied to the payment of any and all sums due to Landlord pursuant to this Lease. In the event there shall be any surplus remaining after the payment of any sums due to Landlord, such surplus shall be paid over
to Tenant. 
 ARTICLE 21 
 SUBORDINATION AND ATTORNMENT 
 Section 21.1 Subordination. This Lease and Tenant’s interest hereunder is
and shall remain subject and subordinate to the lien of all existing and all current and future mortgages and/or any ground leases (which term “mortgages” shall include both construction and permanent financing and shall
include deeds of trust and similar security instruments, and ground leases) which may now or hereafter encumber the Building, the Land, or any part thereof, and to all and any renewals, extensions, modifications, recastings, or refinancings thereof.
At any time after the execution of this Lease, the holder of any mortgage to which this Lease is subordinate shall have the right to declare this Lease to be superior to the lien of such mortgage and Tenant agrees to execute all documents required
by such holder in confirmation thereof. 
 The foregoing subordination shall be automatic and shall not require execution of a separate
instrument of subordination to be effective; however, in confirmation of the foregoing subordination, Tenant shall, within ten (10) days after Landlord’s request, execute any requisite or appropriate certificate or other document. Tenant
hereby constitutes and appoints Landlord as Tenant’s attorney-in-fact to execute any such certificate or other document for or on behalf of Tenant. 
 Landlord shall make reasonable efforts to obtain from any present or future mortgagee of the Building or the Land a non-disturbance agreement with respect to the Premises in such mortgagee’s standard form,
subject to mortgagee’s acceptance; provided, however, that (i) Tenant shall pay all costs in connection therewith, and (ii) the failure to obtain any such non-disturbance agreement shall have no effect on the subordination provided
for in this Section 21.1. 
 Section 21.2 Attornment. Tenant agrees that in the event any proceedings are brought for the
foreclosure of any mortgage encumbering the Building, the Land, or any part thereof, or the termination of any ground lease affecting the Building, the Land, or any part thereof, Tenant shall attorn to the purchaser at such foreclosure sale or any
ground lease, as the case may be, if requested to do so by such party, and shall recognize such party as the Landlord under this Lease, and Tenant waives the provisions of any statute or rule of law, now or hereafter in effect, which may give or
purport to give Tenant any right to terminate or otherwise adversely affect this Lease and the obligations of Tenant hereunder in the event any such foreclosure proceeding is prosecuted or completed. Tenant agrees to execute all documents required
by such holder in confirmation thereof within ten (10) days of Landlord’s request. 
  

 26. 

 ARTICLE 22 
 DELIVERY AT END OF LEASE TERM 
 Section 22.1 Surrender of Premises. On the date of the
expiration of the Lease Term, Tenant shall quit and surrender the Premises broom clean and in good condition and repair (ordinary wear and tear and damage excepted, together with all Improvements which may have been made in or attached to the
Premises, unless otherwise directed by Landlord pursuant to Section 10.3 hereof. If, for any reason, Tenant fails to surrender the Premises on the expiration or earlier termination of this Lease with all removal and repair obligations
completed, then, in addition to any other provisions of this Lease, Tenant shall indemnify, defend (by counsel reasonably approved in writing by Landlord) and hold Landlord harmless from and against all judgments, suits, causes of action, damages,
loses, liabilities and expenses (including attorneys’ fees and court costs) resulting from such failure to surrender, including, without limitation, any claim made by any succeeding tenant based thereon. The foregoing indemnity shall survive
the expiration or earlier termination of this Lease. 
 Section 22.2 Holding Over. In the event that Tenant or any party claiming
under Tenant shall not immediately surrender the Premises on the date of the expiration of the Lease Term, Tenant shall become a Tenant by the month at two hundred percent (200%) of the fixed monthly rent in effect during the last month of the
Lease Term for each month plus one hundred fifty percent (150%) of all additional rent in effect during the last month of the Lease Term (subject to increases thereafter as determined by Landlord in accordance with the provisions of this
Lease). Said monthly tenancy shall commence on the first day following the expiration of the Lease Term. As a monthly Tenant, Tenant shall be subject to all the terms, conditions, covenants, and agreements of this Lease, except as to the amount of
the monthly rent, which shall be in the amount specified in this Section 22.2. As a monthly tenant, Tenant shall give to Landlord at least thirty (30) days’ written notice of any intention to quit the Premises, and Tenant shall be
entitled to thirty (30) days’ written notice to quit the Premises, unless Tenant is in default hereunder, in which event Tenant shall not be entitled to any notice to quit, the usual thirty (30) days notice to quit being hereby
expressly waived. Notwithstanding the foregoing provisions of this Section 22.2, acceptance by Landlord of rent after such expiration or earlier termination shall not constitute a consent to a hold over hereunder or result in an extension of
this Lease. 
 ARTICLE 23 
 COVENANTS OF LANDLORD AND RESERVATION OF RIGHTS 
 Section 23.1 Covenants of Landlord. Landlord covenants that it
has the right to make this Lease for the term aforesaid and that if Tenant shall pay all rent and additional rent when due and punctually perform all of the covenants, terms, conditions, and agreements of this Lease to be performed by Tenant, Tenant
shall have the right, during the term hereby created, to freely, peaceably, and quietly occupy and enjoy the full possession of the Premises without molestation or hindrance by Landlord or any party claiming through or under Landlord, subject to the
provisions of Article 21 and Section 23.2 hereof. 
  

 27. 

 Section 23.2 Landlord’s Reservation of Rights. Landlord hereby reserves to itself and
its successors and assigns the following rights (all of which are hereby consented to by Tenant): (i) to change the street address and/or name of the Building and/or the arrangement and/or location of entrances, passageways, doors, doorways,
corridors, elevators, stairs, toilets, or other public parts of the Building and to change the design or configuration of the Building; (ii) to erect, use, and maintain pipes and conduits and other such facilities to serve the Building’s
tenants in and through the Premises; (iii) to grant to anyone the exclusive right to conduct any particular business or undertaking in the Building; (iv) to control the use of the roof and exterior walls of the Building for any purpose;
and (v) to perform such other acts and make such other changes with respect to the common area and Building as Landlord may, in the exercise of sound business judgment, deem appropriate. Landlord may exercise any or all of the foregoing rights
without being deemed to be guilty of an eviction, actual or constructive, or a disturbance or interruption of the business of Tenant or of Tenant’s use or occupancy of the Premises. 
 ARTICLE 24 
 GENERAL PROVISIONS 
 Section 24.1 No Representations. Tenant acknowledges that neither Landlord nor any broker, agent, or employee of Landlord has made any
representations or promises with respect to the Premises or the Building except as herein expressly set forth, and no rights, privileges, easements, or licenses are acquired by Tenant except as herein expressly set forth. 
 Section 24.2 Financing Requirements. If any person, including, but not limited to, any bank, insurance company, pension or welfare fund,
savings and loan association, real estate investment trust, business trust, or other financial institution providing any mortgage, interim construction financing for the Building and/or any mortgage permanent financing for the Building or the
Property requires, as a condition of such financing, that (A) modifications to this Lease be obtained, and provided that such modifications (i) do not adversely affect Tenant’s use of the Premises as herein permitted, and (ii) do
not increase the rentals and other sums required to be paid by Tenant hereunder, Landlord shall submit an amendment to this Lease containing such required modifications to Tenant and/or that (B) Tenant (and any Guarantor) provide current
financial statements. Tenant agrees to execute said amendment and/or provide such updated financials within thirty (30) days after receipt of such amendment. If Tenant does not enter into and execute said written amendment hereto incorporating
such required modifications and/or such updated financials within thirty (30) days after the same has been submitted to Tenant by Landlord, then Landlord shall thereafter have the right, at its sole option, to do any or more of the following,
at Landlord’s option: (1) cancel this Lease, (2) to sign said amendment on behalf of Tenant pursuant to a power of attorney, which is hereby expressly granted to the Landlord by Tenant, or (3) to declare an event of default under
this Lease. Such options shall be exercisable by Landlord giving Tenant written notice of the option elected. 
 Section 24.3 No
Partnership. Nothing contained in this Lease shall be construed as creating a partnership or joint venture of or between Landlord and Tenant, or to create any other relationship between the parties hereto other than that of Landlord and Tenant.

  

 28. 

 Section 24.4 Brokers. Landlord and Tenant each represent and warrant to the other that,
neither of them has employed or dealt with any broker, agent, or finder in carrying on the negotiations relating to this Lease. Landlord shall indemnify and hold Tenant harmless, and Tenant shall indemnify and hold Landlord harmless, from and
against any claim or claims for brokerage or other commissions arising from or out of any breach of the foregoing representation and warranty by the respective indemnitor. 
 Section 24.5 Tenant Estoppel Certificates. Tenant agrees, at any time, from time to time, upon not less than ten (10) days’ prior
written notice by Landlord, to execute, acknowledge and deliver to Landlord a statement in writing (i) certifying that this Lease is unmodified and in full force and effect (or if there have been modifications, that the Lease is in full force
and effect and stating the modifications including rent) and that Tenant has given no notice of termination; (ii) stating the dates to which the rent and any other charges hereunder have been paid by Tenant; (iii) stating whether or not,
to the best knowledge of Tenant, Landlord is in default in the performance of any covenant, agreement, or condition contained in this Lease and, if so, specifying the nature of such default and specifying any defenses, counterclaims, setoffs, or
concessions against rent; (iv) if any improvements are required to be performed by Landlord under this Lease, stating that all such work has been satisfactorily completed or, if not, providing a list of items excepted; (v) stating any
sublease or assignments; (vi) stating the amount of any security deposit or prepaid rent, and any other certification reasonably required by Landlord; and (vii) stating the address to which notices to Tenant are to be sent. Any such
statement delivered by Tenant may be relied upon by any owner of the Building or the Land upon which it is situated, any prospective purchaser of the Building or such Land, any mortgagee or prospective mortgagee of the Building or such Land or of
Landlord’s interest therein, or any prospective assignee of any such mortgagee. Any failure by Tenant to execute, acknowledge and deliver any certificate or other document within the aforesaid ten (10) day period, shall be deemed a default
under this Lease. Any such statement delivered by Landlord as Tenant’s attorney-in-fact may be relied upon as aforesaid. 
 Section 24.6 Waiver of Jury Trial. LANDLORD AND TENANT EACH HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM BROUGHT BY EITHER OF THEM AGAINST THE OTHER IN CONNECTION WITH ANY MATTER ARISING OUT OF OR IN ANY
WAY CONNECTED WITH THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT HEREUNDER, TENANT’S USE OR OCCUPANCY OF THE PREMISES, AND/OR ANY CLAIM OF INJURY OR DAMAGE. 
 Section 24.7 Notices. Whenever any notice, demand or request is required or permitted hereunder, such notice, demand or request shall be hand-delivered or sent by United States Mail, registered or
certified, return receipt requested, postage prepaid, to the addresses set forth below: 
  

			
	TENANT:	  	 DuPont Fabros Development LLC
 At the
Premises

		
	LANDLORD:	  	 Jaguar Properties LLC
 c/o DuPont Fabros Development
LLC
 1707 H Street, N.W., Suite 1000
 Washington, D.C.
20006
 Attn: Hossein Fateh and Lammot J. du Pont

  

 29. 

			
		
	With a copy to:	  	 Grubb & Ellis Management Services, Inc.
 1341 G
Street, N.W., Suite 77
 Washington, D.C. 20006

		
	With a copy to:	  	 Cooley Godward LLP
 11951 Freedom Drive
 Suite 1500
 Reston, Virginia 20190
 Attn: Susan Stevens Mullen, Esq.

 Any notice, demand, or request which shall be served upon either of the parties in the manner
aforesaid shall be deemed sufficiently given for all purposes hereunder (i) at the time such notice, demand, or request is hand-delivered in person or (ii) on the third day after the mailing of such notice, demand, or request in accordance
with the preceding portion of this Section 24.7. 
 Either Landlord or Tenant shall have the right from time to time to designate by
written notice to the other party such other places in the United States as Landlord or Tenant may desire written notice to be delivered or sent in accordance herewith; provided, however, at no time shall either party be required to send more than
an original and two copies of any such notice, demand, or request required or permitted hereunder. 
 Section 24.8 Partial
Invalidity. If any provision of this Lease or the application thereof to any person or circumstances shall to any extent be invalid or unenforceable, the remainder of this Lease, or the application of such provision to persons or circumstances
other than those as to which it is invalid or unenforceable, shall not be affected thereby, and each provision of this Lease shall be valid and enforced to the fullest extent permitted by law. 
 Section 24.9 Pronouns. Feminine or neuter pronouns shall be substituted for those of masculine form, and the plural shall be substituted for
the singular number, in any place or places herein in which the context may require such substitution. 
 Section 24.10 Successors
and Assigns. The provisions of this Lease shall be binding upon, and shall inure to the benefit of, the parties hereto and each of their respective representatives, successors, and assigns subject to the provisions hereof prohibiting assignment
or subletting by Tenant. 
 Section 24.11 Entire Agreement. This Lease and the Exhibits hereto contain the entire agreement of
the parties hereto, and no representations inducements, or agreements, oral or otherwise, not contained in this Lease shall be of any force or effect. This Lease may not be modified or changed in whole or in part in any manner other than by an
instrument in writing duly signed by both parties hereto. 
 Section 24.12 Governing Law. This Lease shall be governed by and
construed in accordance with the laws of the District of Columbia. 
  

 30. 

 Section 24.13 Section Headings. Article and section headings are used herein for the
convenience of reference and shall not be considered when construing or interpreting this Lease. 
 Section 24.14 No Offer. The
submission of an unsigned copy of this document to Tenant for Tenant’s consideration does not constitute an offer to lease the Premises or an option to or for the Premises. This document shall become effective and binding only upon the
execution and delivery of this Lease by both Landlord and Tenant. 
 Section 24.15 Multiple Counterparts. This Lease may be
executed in multiple counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same document. 
 Section 24.16 Time of Essence. TIME IS OF THE ESSENCE WITH RESPECT TO THE CARRYING OUT BY TENANT OF EACH TERM OR PROVISION OF THIS LEASE TO BE PERFORMED BY TENANT. 
 Section 24.17 Conflict. In the event of any conflict between the Lease and the Rules and Regulations, EXHIBIT C hereto, the provisions of
this Lease shall prevail. 
 Section 24.18 Execution by Tenant; Joint and Several Liability. If Tenant is a corporation or if
Tenant is a partnership, it shall, concurrently with the signing of this Lease, at Landlord’s option, furnish to Landlord certified copies of the resolutions of its board of directors (or of the executive committee of its board of directors) or
partnership consent authorizing Tenant to enter into this Lease. Moreover, each individual executing this Lease on behalf of Tenant hereby represents and warrants that he or she is duly authorized to execute and deliver this Lease and that Tenant is
a duly organized corporation or partnership under the laws of the state of its incorporation or formation, is qualified to do business in the jurisdiction in which the Building is located, is in good standing under the laws of the state of its
incorporation or formation and the laws of the jurisdiction in which the Building is located, and has the power and authority to enter into this Lease, and that all corporate or partnership action requisite to authorize Tenant to enter into this
Lease has been duly taken. If more than one person or entity signs this Lease as Tenant, the liability of each such person and entity shall be joint and several. 
 Section 24.19 Force Majeure. In the event that Landlord shall be delayed or hindered in or prevented from the performance of any act, or obligation required of Landlord hereunder by reason of a labor
strike, lockout, inability to procure materials, failure of power, riot, insurrection, war, or other reason not within the reasonable control of Landlord, then performance of such act or obligation by Landlord shall be excused for a period
equivalent to the period of such delay. 
 Section 24.20 No Construction of Lease Against Drafter. Should any provision of this
Lease require judicial interpretation, it is agreed that the court interpreting or considering same shall not apply the presumption that the terms hereof shall be more strictly construed against a party by reason of the rule or conclusion that a
document should be construed more strictly against the party who itself or through its agent prepared the same, it being agreed that all parties hereto have participated in the preparation of this Lease and that legal counsel was consulted by each
party hereto (or opportunity for such legal consultation afforded to each party) before the execution of this Lease. 
  

 31. 

 Section 24.21 Financials. The financials of Tenant submitted to Landlord in connection with
the Letter of Intent between the parties are complete, correct, and have not materially changed since submission. 
 ARTICLE 25

 TRASH SORTING; ENVIRONMENTAL LAWS 
 Section 25.1 Trash Sorting. Tenant covenants and agrees, at its sole cost and expense: (i) to comply with all present and future laws, orders, and regulations of the District of Columbia, federal
municipal, and local governments, departments, commissions, agencies and boards regarding the collection, sorting, separation, and recycling of garbage, trash, rubbish and other refuse (collectively, “trash”) in the Premises; (ii) to
sort and separate its trash into such categories as are provided by law; (iii) that each separately sorted category of trash shall be placed in separate receptacles as directed by Landlord; (iv) that Landlord reserves the right to refuse
to collect or accept from Tenant any trash that is not separated and sorted as required by law, and to require Tenant to arrange for such collection at Tenant’s sole cost and expense, utilizing a contractor satisfactory to Landlord; and
(v) that Tenant shall pay all costs, expenses, fines, penalties, or damages that may be imposed on Landlord or Tenant by reason of Tenant’s failure to comply with the provisions of this Section, and, at Tenant’s sole cost and expense,
shall indemnify, defend and hold Landlord harmless (including legal fees and expenses) from and against any actions, claims, and suits arising from such noncompliance, utilizing counsel reasonably satisfactory to Landlord. 
 Section 25.2 Environmental Laws. This Section 26.2 shall apply throughout the Lease Term and the obligations under it shall survive the
expiration or termination of this Lease. Tenant shall not use any portion or all of the Building, the Land, the Property or the Premises for the use, generation, treatment, storage or disposal of “hazardous materials”, “hazardous
waste”, “hazardous substances” or “oil” (collectively, “Materials”) as such terms are defined under the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C.
Section 9601 et seq., as amended, the Resource Conservation and Recovery Act of 1976, 42 U.S.C. 6901 et seq., as amended, and any and all other “environmental statutes” which regulate the use of hazardous and/or dangerous substances;
and the regulations promulgated thereunder and any and all state and local laws, rules and regulations, without the express prior written consent of Landlord, and then only to extent that the presence and/or discharge of the Materials is
(i) properly licensed and approved by all appropriate governmental officials and in accordance with all applicable laws and regulations and (ii) in compliance with any terms and conditions stated in said prior written approval by Landlord.
Tenant may use such Materials as are used for ordinary office purposes in the ordinary course of Tenant’s business, provided that such use is in accordance with all applicable statutes, laws, rules and regulations, and any manufacturer’s
instructions; and provided further that Tenant may not discharge any Materials except as provided by applicable statutes, laws, rules and/or regulations, and specifically may not discharge any Materials in any public sewer or any drain and/or
drainpipe leading or connected thereto. Tenant shall promptly give written notice to Landlord of any communication received 

  

 32. 

 
by Tenant from any governmental authority or other person or entity concerning any complaint, investigation or inquiry regarding any use or discharge (or
alleged use or alleged discharge) by Tenant of any Materials. Landlord shall have the right (but not the obligation) to conduct such investigations or tests (or both) as Landlord shall deem necessary with respect to any such complaint, investigation
or inquiry, and Tenant, at its expense, shall take such action (or refrain from taking such action) as Landlord may request in connection with such investigations and tests by Landlord. Tenant shall indemnify, defend (with counsel selected by
Landlord), and hold Landlord harmless from and against any such improper use, generation, treatment, storage, disposal or discharge of Materials by Tenant, including any costs of all necessary clean-up activities occasioned by Tenant’s actions,
whether during the Lease Term or after termination of this Lease. 
 ARTICLE 26 
 OPTION TO EXTEND 
 Section 26.1 Option to Extend. Provided that Tenant is not then in default and is then in occupancy of the entire Premises at the time of exercise of the Renewal Option, as hereinafter defined, and at the time of the
commencement of the Renewal Period, as hereinafter defined, Tenant shall have four (4) option(s) (the “Renewal Option”) to extend the Lease Term for four (4) additional five (5) year period(s) (the
“Renewal Period”) after the expiration of the initial Lease Term. Each Renewal Option shall be exercisable only by written notice given by Tenant to Landlord not later than six (6) months prior to the expiration of the
initial Lease Term. In the event that Tenant does not timely exercise a Renewal Option, said Renewal Option shall be null and void and of no further force or effect, time being of the essence in the exercise of each Renewal Option and it being
acknowledged and agreed by Tenant that Landlord shall be entitled to rely on any failure by Tenant to give written notice of its exercise of its Renewal Option by the date set forth herein for such exercise thereof. 
 All terms and conditions of this Lease shall be applicable during a Renewal Period except that the amount of fixed annual rent charged for the Renewal
Period shall be ninety-five percent (95%) of the then “Prevailing Market Rent”, which shall be the rent for office space in comparable buildings in the District of Columbia including all reasonable market concessions. If
within thirty (30) days following delivery of Tenant’s notice, Landlord and Tenant have not mutually agreed on the Prevailing Market Rent for the Renewal Period, then within ten (10) days after the expiration of such thirty-day
period, each party shall give written notice to the other setting forth the name and address of a Disinterested Broker (as hereinafter defined) selected by such party who has agreed to act in such capacity, to determine the Prevailing Market Rent.
If either party shall fail to select a Disinterested Broker as aforesaid, then the Disinterested Broker selected by the other party shall determine the Prevailing Market Rent. Each Disinterested Broker shall thereupon independently make his
determination of the Prevailing Market Rent within twenty (20) days after the appointment of the second Disinterested Broker. If the two Disinterested Brokers determinations are not the same, but the higher of such two values is not more than
one hundred ten percent (110%) of the lower of them, then the Prevailing Market Rent shall be deemed to be the average of the two values. If the higher of such two values is more than one hundred percent ten (110%) of the lower of them,
then the two Disinterested Brokers shall jointly appoint a third Disinterested Broker within ten (10) days after the second of the two 

  

 33. 

 
determinations described above has been rendered. The third Disinterested Broker shall independently make his determination of the Prevailing Market Rent
within twenty (20) days after his appointment. The highest and the lowest determinations of value among the three Disinterested Brokers shall be disregarded and the remaining determination shall be deemed to be the Prevailing Market Rent;
provided, however, that in no event shall the Prevailing Market Rent determined as aforesaid be deemed to be less than the fixed annual rent payable under this Lease during the Lease Year immediately preceding the first Lease Year of the Renewal
Period. Within thirty (30) days after the Prevailing Market Rent is determined as aforesaid, the Tenant shall either (i) execute an amendment to this Lease setting forth the new Rent to be paid for the Renewal Period, or (ii) notify
Landlord in writing that this Lease shall terminate at the end of the initial Lease Term. If Tenant fails to execute an amendment or deliver such written notice as set forth hereinabove, Tenant’s rights under this Section 26.1 shall
terminate and this Lease shall terminate at the end of the initial Lease Term. 
 For the purposes of this Article 26,
“Disinterested Broker” shall mean a real estate broker licensed in the District of Columbia, who has been regularly engaged in such capacity in the business of commercial office leasing in the District of Columbia for at
least ten (10) years immediately preceding such person’s appointment hereunder. Each party shall pay for the cost of its Disinterested Broker and one-half of the cost of the third Disinterested Broker. 
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY
LEFT BLANK.] 
  

 34. 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease under seal on the day and year first
above written. 
  

									
		 		 		 	LANDLORD:
			
	ATTEST/WITNESS:	 		 	JAGUAR PROPERTIES LLC
					
		 		 		 	By:	 	Jaguar Ventures LLC,
		 		 		 		 	Managing Member
					
		 		 		 	By:	 	Jaguar Management LLC,
		 		 		 		 	Managing Member
				
	  
	 		 	By:	 	  

	Name:	 	  
	 		 	Name:	 	Hossein Fateh
	Title:	 	  
	 		 	Title:	 	Member
				
	[SEAL]	 		 		 	
					
		 		 		 	Date:	 	  

				
		 		 		 	TENANT:
			
	ATTEST/WITNESS:	 		 	DUPONT FABROS DEVELOPMENT LLC, a
		 		 		 	Delaware limited liability company
				
	  
	 		 	By:	 	  

	Name:	 	  
	 		 	Name:	 	HOSSEIN FATEH
	Title:	 	  
	 		 	Title:	 	PRINCIPAL
				
	[SEAL]	 		 	Date:	 	September 1, 2004

 EXHIBIT A        Floor Plan Showing the Premises 
 EXHIBIT B        Certificate of Lease Commencement Date and Expiration of Lease Term 
 EXHIBIT C        Rules and Regulations, 1212 New York Avenue, N.W., Washington, D.C. 
 EXHIBIT D        Cleaning Specifications 
 EXHIBIT E        Contractor Rules and Regulations 
 EXHIBIT
F        Work Agreement 
 EXHIBIT F-1     Landlord Work

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