Document:

EX-4.2

 Exhibit 4.2 

DESCRIPTION OF REGISTRANT’S SECURITIES 

REGISTERED PURSUANT TO SECTION 12 OF 

THE SECURITIES EXCHANGE ACT OF 1934 
 The
following is a brief description of the securities of Nuveen Global Cities REIT, Inc. (the “Company” or “we,” “us” or “our”) registered pursuant to Section 12 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”). This description of the terms of our stock does not purport to be complete and is subject to and qualified in its entirety by reference to the applicable provisions of Maryland General Corporation Law
(“MGCL”), and the full text of our charter and bylaws. 
 General 

Under our charter, we have authority to issue a total of 2,200,000,000 shares of capital stock. Of the total shares of stock authorized, 2,100,000,000 shares
are classified as common stock with a par value of $0.01 per share, 500,000,000 of which are classified as Class T shares, 500,000,000 of which are classified as Class S shares, 500,000,000 of which are classified as Class D shares,
500,000,000 of which are classified as Class I shares, and 100,000,000 of which are classified as Class N shares, and 100,000,000 are classified as preferred stock with a par value of $0.01 per share. In addition, our board of directors
may amend our charter from time to time, without stockholder approval, to increase or decrease the aggregate number of shares of stock or the number of shares of stock of any class or series that we have authority to issue, or to issue additional
classes of stock which may be subject to various class-specific fees. 
 Common Stock 

Subject to the restrictions on ownership and transfer of stock set forth in our charter and except as may otherwise be specified in our charter, the holders of
common stock are entitled to one vote per share on all matters voted on by stockholders, including election of our directors. The holders of common stock vote together as a single class on all actions to be taken by the stockholders; provided,
however, that with respect to (i) any amendment of the charter that would materially and adversely affect the rights, preferences and privileges of only a particular class of common stock, (ii) any matter submitted to stockholders that
relates solely to a particular class of common stock or (iii) any matter submitted to stockholders in which the interests of a particular class of common stock differ from the interests of all other classes of common stock, only the affirmative
vote of the holders of a majority of such affected class of common stock, with no other class of common stock voting except such affected class of common stock voting as a separate class, is required. Our charter does not provide for cumulative
voting in the election of our directors. Therefore, the holders of a majority of the outstanding shares of our common stock can elect our entire board of directors. Subject to any preferential rights of any outstanding class or series of shares of
stock and to the provisions in our charter regarding the restrictions on ownership and transfer of stock, the holders of common stock are entitled to such distributions as may be authorized from time to time by our board of directors and declared by
us out of legally available funds and, upon liquidation, are entitled to receive all assets available for distribution to our stockholders. All outstanding shares of our common stock issued in the offering are fully paid and non-assessable. Holders of our common stock do not have preemptive rights, which means such holders do not have an automatic option to purchase any new shares of stock that we issue. 

Our charter also contains a provision permitting our board of directors, without any action by our stockholders, to classify or reclassify any unissued common
stock into one or more classes or series by setting or changing the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, and terms or conditions of redemption of
any new class or series of shares of stock. 
 We generally do not issue certificates for shares of our common stock. Shares of our common stock are held in
“uncertificated” form, which eliminates the physical handling and safekeeping responsibilities inherent in owning transferable stock certificates and eliminates the need to return a duly executed stock certificate to effect a transfer. DST
Systems, Inc. currently acts as our registrar and as the transfer agent for our shares. 

 Class T Shares 

Each Class T share issued in our primary offering is subject to an upfront selling commission of up to 3.0%, and an upfront dealer manager fee of 0.5%, of
the transaction price of each Class T share sold in the offering on the date of the purchase, however such amounts may vary at certain participating broker-dealers provided that the sum will not exceed 3.5% of the transaction price. All or a
portion of the upfront selling commissions and dealer manager fees are retained by, or reallowed (paid) to, participating broker-dealers. 
 We pay the
Nuveen Securities, LLC (the “Dealer Manager”) selling commissions over time as a stockholder servicing fee with respect to our outstanding Class T shares equal to 0.85% per annum of the aggregate net asset value (“NAV”) of
our outstanding Class T shares. For each Class T share, this stockholder servicing fee consists of an advisor stockholder servicing fee and a dealer stockholder servicing fee. Generally the advisor stockholder servicing fee will equal
0.65% per annum and the dealer stockholder servicing fee will equal 0.20% per annum, of the aggregate NAV for each Class T share. However, with respect to Class T shares sold through certain participating broker-dealers, the advisor
stockholder servicing fee and the dealer stockholder servicing fee may be other amounts, provided that the sum of such fees will always equal 0.85% per annum of the NAV of such shares. The stockholder servicing fees are paid monthly in arrears. The
Dealer Manager reallows (pays) all or a portion of the stockholder servicing fees to participating broker-dealers and servicing broker-dealers for ongoing stockholder services performed by such broker-dealers, and will waive stockholder servicing
fees to the extent a broker-dealer is not eligible to receive it for failure to provide such services. 
 The upfront selling commission and dealer manager
fee are not payable in respect of any Class T shares sold pursuant to our distribution reinvestment plan, but such shares are charged the stockholder servicing fee payable with respect to all our outstanding Class T shares. 

We will cease paying the stockholder servicing fee with respect to any Class T share held in a stockholder’s account at the end of the month in
which the Dealer Manager in conjunction with the transfer agent determines that total upfront selling commissions, dealer manager fees and stockholder servicing fees paid with respect to Class T, Class S and Class D shares held within
such account would exceed, in the aggregate, 8.75% of the sum of the gross proceeds from the sale of such shares and the aggregate gross proceeds of any shares issued under the distribution reinvestment plan with respect thereto (or, solely with
respect to the Class T shares, a lower limit set forth in an agreement between the Dealer Manager and the applicable participating broker-dealer in effect on the date that such shares were sold). At the end of such month, each Class T
share held in a stockholder’s account will convert into a number of Class I shares (including any fractional shares) with an equivalent aggregate NAV as such share. 

Class S Shares 
 Each Class S share
issued in our primary offering is subject to an upfront selling commission of up to 3.5% of the transaction price of each Class S share sold in the offering on the date of the purchase. All or a portion of the upfront selling commissions is
retained by, or reallowed (paid) to, participating broker-dealers. We pay the Dealer Manager selling commissions over time as a stockholder servicing fee with respect to our outstanding Class S shares equal to 0.85% per annum of the aggregate
NAV of our outstanding Class S shares. The stockholder servicing fees are paid monthly in arrears. The Dealer Manager reallows (pays) all or a portion of the stockholder servicing fees to participating broker-dealers and servicing
broker-dealers for ongoing stockholder services performed by such broker-dealers, and will waive stockholder servicing fees to the extent a broker-dealer is not eligible to receive it for failure to provide such services. 

The upfront selling commission is not payable in respect of any Class S shares sold pursuant to our distribution reinvestment plan, but such shares are
charged the stockholder servicing fee payable with respect to all our outstanding Class S shares. 
 We will cease paying the stockholder servicing fee
with respect to any Class S share held in a stockholder’s account at the end of the month in which the Dealer Manager in conjunction with the transfer agent determines that total upfront selling commissions, dealer manager fees and
stockholder servicing fees paid with respect to the Class T, Class S and Class D shares held within such account would exceed, in the aggregate, 8.75% of the sum of the gross proceeds from the sale of such shares and the aggregate
gross proceeds of any shares issued under the distribution reinvestment plan with respect thereto. At the end of such month, each Class S share held in a stockholder’s account will convert into a number of Class I shares (including
any fractional shares) with an equivalent aggregate NAV as such share. 

 Class D Shares 

No upfront selling commissions are paid for sales of any Class D shares. We pay the Dealer Manager selling commissions over time as a stockholder
servicing fee with respect to our outstanding Class D shares equal to 0.25% per annum of the aggregate NAV of all our outstanding Class D shares, including any Class D shares sold pursuant to our distribution reinvestment plan. The
stockholder servicing fees are paid monthly in arrears. The Dealer Manager reallows (pays) all or a portion of the stockholder servicing fees to participating broker-dealers and servicing broker-dealers for ongoing stockholder services performed by
such broker-dealers, and will waive stockholder servicing fees to the extent a broker-dealer is not eligible to receive it for failure to provide such services. 

We will cease paying the stockholder servicing fee with respect to any Class D share held in a stockholder’s account at the end of the month in
which the Dealer Manager in conjunction with the transfer agent determines that total upfront selling commissions, dealer manager fees and stockholder servicing fees paid with respect to the Class T, Class S and Class D shares held
within such account would exceed, in the aggregate, 8.75% of the sum of the gross proceeds from the sale of such shares and the aggregate gross proceeds of any shares issued under the distribution reinvestment plan with respect thereto. At the end
of such month, each Class D share held in a stockholder’s account will convert into a number of Class I shares (including any fractional shares) with an equivalent aggregate NAV as such share. 

Class I Shares 
 No upfront selling
commissions or stockholder servicing fees are paid for sales of any Class I shares. 
 Class N Shares 

TIAA purchased 20,000 shares of Class N common stock at $10.00 per share for our initial capitalization. TIAA may not sell any of these shares during the
period that Nuveen Real Estate Global Cities Advisors or an affiliate of Nuveen serves as our advisor, but the holder may transfer the shares to its affiliates. TIAA may not vote on the removal of any of its affiliates (including the Advisor), and
may not vote regarding any transaction between us and TIAA or any of its affiliates, including Nuveen Real Estate. 
 Subsequent to our initial
capitalization, TIAA purchased, through a wholly owned subsidiary, $300 million of shares of Class N common stock (less the $200,000 initial capitalization). Per the terms of the agreement between the Company and TIAA, beginning on
January 31, 2023, TIAA may submit a portion of its Class N shares for repurchase, provided that after taking into account the repurchase, the total value of TIAA’s aggregate ownership of our Class N shares shall not be less than
$300 million. Beginning on January 31, 2025, TIAA may submit all of its remaining shares for repurchase, provided that provided that TIAA must continue to maintain ownership of the $200,000 initial investment in the Company’s shares
for so long as the Advisor or its affiliate serves as the Company’s advisor. 
 The total amount of repurchases of Class N shares eligible for
repurchase will be limited to no more than 0.67% of our aggregate NAV per month and no more than 1.67% of our aggregate NAV per calendar quarter; provided that, if in any month or quarter the total amount of aggregate repurchases of all classes of
our common stock do not reach the overall share repurchase plan limits of 2% of the aggregate NAV per month and 5% of the aggregate NAV per calendar quarter, the above repurchase limits on the Class N shares shall not apply to that month or
quarter and TIAA shall be entitled to submit shares for repurchase up to the overall share repurchase plan limits. The foregoing limitations do not apply in the event that the Advisor or its affiliate is no longer serving as our external advisor.

 Holders of the Class N shares are entitled to receive distributions at the same rate applicable to
other classes of our common stock, except with regard to deductions based on class-specific fees. The Class N shares are not subject to any upfront selling commissions, dealer manager fees or stockholder servicing fees, and the advisory fee
applicable to the Class N shares is lower than the advisory fee applicable to our share classes publicly sold in our offering. Therefore, Class N shares have a higher NAV and a different distribution amount relative to our other share
classes. 
 Other Terms of Common Stock 
 If not
already converted into Class I shares upon a determination that total upfront selling commissions, dealer manager fees and stockholder servicing fees paid with respect to such shares would exceed the applicable limit as described in the
“—Class T Shares,” “—Class S Shares,” and “—Class D Shares” sections above, each Class T share, Class S share, Class D share and Class N share held in a
stockholder’s account will automatically and without any action on the part of the holder thereof convert into a number of Class I shares (including any fractional shares) with an equivalent NAV as such share on the earliest of (i) a
listing of Class I shares, (ii) our merger or consolidation with or into another entity or the sale or other disposition of all or substantially all of our assets, in each case in a transaction in which stockholders receive cash and/or
listed securities or (iii) after termination of the primary portion of our offering in which such Class T shares, Class S shares and Class D shares were sold, the end of the month in which we, with the assistance of the dealer
manager, determine that all underwriting compensation from all sources in connection with our offering, including upfront selling commissions, the stockholder servicing fee and other underwriting compensation, is equal to 10% of the gross proceeds
of the primary portion of our offering. In addition, immediately before any liquidation, dissolution or winding up or any distribution of our assets pursuant to a plan of liquidation, dissolution or winding up, each Class T share, Class S
share, Class D share and Class N share will automatically convert into a number of Class I shares (including any fractional shares) with an equivalent NAV as such share. 

Preferred Stock 
 Our charter authorizes our board of
directors to designate and issue one or more classes or series of preferred stock without stockholder approval, and to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends and other
distributions, qualifications and terms or conditions of repurchase of each class or series of preferred stock so issued. Because our board of directors has the power to establish the preferences and rights of each class or series of preferred
stock, it may afford the holders of any series or class of preferred stock preferences, powers and rights senior to the rights of holders of common stock. 

However, the voting rights per share of any series or class of preferred stock sold in a private offering may not exceed voting rights which bear the same
relationship to the voting rights of a publicly held share as the consideration paid to us for each privately-held preferred share bears to the book value of each outstanding publicly held share. If we issue preferred stock with a distribution
preference over common stock, payment of any distribution preferences of outstanding preferred stock would reduce the amount of funds available for the payment of distributions on the common stock. Further, holders of preferred stock are normally
entitled to receive a liquidation preference in the event we liquidate, dissolve or wind up before any payment is made to the common stockholders, likely reducing the amount common stockholders would otherwise receive upon such an occurrence. In
addition, under certain circumstances, the issuance of preferred stock may render more difficult or tend to discourage a merger, offer or proxy contest, the assumption of control by a holder of a large block of our securities, or the removal of
incumbent management. Our board of directors has no present plans to issue any preferred stock, but may do so at any time in the future without stockholder approval. 

Meetings and Special Voting Requirements 
 An annual
meeting of the stockholders is held each year, upon reasonable notice to our stockholders, but no sooner than 30 days after delivery of our annual report to stockholders. Special meetings of stockholders may be called only by a majority of our
directors, a majority of our independent directors or our chief executive officer, president or chairman of the board of directors and must be called by our secretary to act on any matter that may properly be considered at a meeting of stockholders
upon the written request of stockholders entitled to cast at least 10% of the votes entitled to be cast on such matter at the meeting. Upon receipt of such written request from stockholders stating the purpose of any such special meeting and the
matters proposed to be acted on at such meeting, our secretary shall provide a written notice to our stockholders within 10 days of receipt of such written request, stating the purpose of the meeting and setting a meeting date not less than 15 nor
more than 60 days after the distribution of 

 
such notice. The presence either in person or by proxy of stockholders entitled to cast at least 50% of all the votes entitled to be cast on such matter at a meeting on any matter constitutes a
quorum. Generally, the affirmative vote of a majority of all votes cast is necessary to take stockholder action, except as described in the next paragraph and except that the affirmative vote of a majority of the shares entitled to vote which are
represented in person or by proxy at a meeting at which a quorum is present is required to elect a director. 
 Under the MGCL and our charter, stockholders
generally are entitled to vote at a duly held meeting at which a quorum is present on (1) amendments to our charter, (2) our liquidation and dissolution, (3) a merger, consolidation, conversion, statutory share exchange or sale or
other disposition of all or substantially all of our assets, and (4) election or removal of our directors. Except with respect to the election of directors or as otherwise provided in our charter, the vote of stockholders entitled to cast a
majority of all the votes entitled to be cast is required to approve any such action, and no such action can be taken by our board of directors without such majority vote of our stockholders. In addition, although the North American Securities
Administrators Association’s Statement of Policy Regarding Real Estate Investment Trusts, as revised and adopted on May 7, 2007, indicate that stockholders are permitted to amend our charter or terminate us without the necessity for
concurrence by our board of directors, we are required to comply with the MGCL, which provides that any amendment to our charter or any dissolution of our company must first be declared advisable by our board of directors. Therefore, except with
respect to the election or removal of our directors, prior to a stockholder vote on any action, our board of directors must first adopt a resolution that the proposed action is advisable and directing the matter to be submitted to the stockholders.
Accordingly, the only proposals to amend our charter or to dissolve our company that will be presented to our stockholders are those that have been declared advisable by our board of directors and also require approval by our stockholders.
Stockholders are not entitled to exercise any of the rights of an objecting stockholder provided for in Title 3, Subtitle 2 of the MGCL unless our board of directors determines that such rights apply, with respect to all or any classes or series of
stock, to one or more transactions occurring after the date of the determination in connection with which stockholders would otherwise be entitled to exercise such rights. Stockholders have the power, without the concurrence of the directors, to
remove a director from our board of directors with or without cause, by the affirmative vote of a majority of the shares of stock entitled to vote generally in the election of directors. Stockholders are entitled to receive a copy of our stockholder
list upon request and in compliance with the terms of our charter. The list provided by us will include each stockholder’s name, address and telephone number and number of shares of stock owned by each stockholder and will be sent within 10
days of our receipt of the request. The stockholder list shall be maintained as part of our books and records and shall be available for inspection by any stockholder or the stockholder’s designated agent at our corporate offices upon the
request of a stockholder. The stockholder list will be updated at least quarterly to reflect changes in the information contained therein. The copy of the stockholder list will be printed in alphabetical order, on white paper, and in a readily
readable type size (in no event smaller than ten- point type). A stockholder requesting a list will be required to pay reasonable costs of postage and duplication. The purposes for which a
stockholder may request a copy of the stockholder list include, but are not limited to, matters relating to stockholders’ voting rights, the exercise of stockholder rights under federal proxy laws and any other proper purpose. If the Advisor or
our board of directors neglects or refuses to exhibit, produce or mail a copy of our stockholder list as requested, the Advisor and/or our board of directors, as the case may be, shall be liable to any stockholder requesting our stockholder list for
the costs, including reasonable attorneys’ fees, incurred by that stockholder for compelling the production of our stockholder list, and for actual damages suffered by any such stockholder by reason of such refusal or neglect. It shall be a
defense that the actual purpose and reason for the requests for inspection or for a copy of our stockholder list is to secure such list or other information for purposes of selling our stockholder list or copies thereof, or of using the same for a
commercial purpose other than in the interest of the applicant as a stockholder relative to our affairs. We have the right to request that a requesting stockholder represent to us that the list will not be used to pursue commercial interests
unrelated to such stockholder’s interest in us. The remedies provided by our charter to stockholders requesting copies of our stockholder list are in addition to, and shall not in any way limit, other remedies available to stockholders under
federal law, or the laws of any state. 
 In addition to the foregoing, stockholders have rights under
Rule 14a-7 under the Exchange Act, which provides that, upon the request of a stockholder and the payment of the expenses of the distribution, we are required to distribute specific materials to
stockholders in the context of the solicitation of proxies by a stockholder for voting on matters presented to stockholders or, at our option, provide requesting stockholders with a copy of the list of stockholders so that the requesting stockholder
may make the distribution of such materials. 

 Furthermore, pursuant to our charter, any stockholder and any designated representative thereof shall be
permitted access to our corporate records to which such stockholder is entitled under applicable law at all reasonable times, and may inspect and copy any of them for a reasonable charge. Under Maryland law, stockholders are entitled to inspect and
copy only our bylaws, minutes of stockholder proceedings, annual statements of affairs, voting trust agreements and statements of stock and securities issued by us during the period specified by the requesting stockholder, which period may not be
longer than 12 months prior to the date of the stockholder’s request. Because our stockholders are entitled to inspect only those corporate records that stockholders are entitled to inspect and copy under Maryland law, our stockholders will not
be entitled to inspect and copy the minutes of the meetings of our board of directors, which are records that certain states other than Maryland allow corporate stockholders to inspect and copy. Requests to inspect and/or copy our corporate records
must be made in writing to: Nuveen Global Cities REIT, Inc., 730 Third Avenue, 3rd Floor, New York, NY 10017. It is the policy of our board of directors to comply with all proper requests for access to our corporate records in conformity with our
charter and Maryland law. 
 Restrictions on Ownership and Transfer 

Our charter contains restrictions on the number of shares of our stock that a person or group may own. No person or group may acquire or hold, directly or
indirectly through application of constructive ownership rules, in excess of 9.8% in value or number of shares, whichever is more restrictive, of our outstanding common stock or 9.8% in value or number of shares, whichever is more restrictive of our
outstanding stock of all classes or series unless they receive an exemption (prospectively or retroactively) from our board of directors. 
 Subject to
certain limitations, our board of directors, in its sole discretion, may exempt a person prospectively or retroactively from, or modify, these limits, subject to such terms, conditions, representations and undertakings as required by our charter or
as it may determine. Our charter provides for, and our board of directors has granted, limited exemptions to certain persons who directly or indirectly own our stock, including directors, officers and stockholders controlled by them or trusts for
the benefit of their families. 
 Our charter further prohibits any person from beneficially or constructively owning shares of our stock that would result
in our being “closely held” under Section 856(h) of the Internal Revenue Code of 1986, as amended (the “Code”), or otherwise cause us to fail to qualify as a real estate investment trust (“REIT”) for U.S. federal
income tax purposes and any person from transferring shares of our stock if the transfer would result in our stock being beneficially owned by fewer than 100 persons. Any person who acquires or intends to acquire shares of our stock that may violate
any of these restrictions, or who is the intended transferee of shares of our stock which are transferred to the trust, as described below, is required to give us immediate written notice, or in the case of a proposed or attempted transaction, give
at least 15 days prior written notice, and provide us with such information as we may request in order to determine the effect of the transfer on our status as a REIT. The above restrictions will not apply if our board of directors determines that
it is no longer in our best interests to continue to qualify as a REIT or that compliance with such restrictions is no longer required for us to qualify as a REIT. 

Any attempted transfer of our stock which, if effective, would result in a violation of the above limitations, except for a transfer which results in shares
being beneficially owned by fewer than 100 persons, in which case such transfer will be void and of no force and effect and the intended transferee will acquire no rights in such shares, will cause the number of shares causing the violation, rounded
to the nearest whole share, to be automatically transferred to a trust for the exclusive benefit of one or more charitable beneficiaries designated by us and the proposed transferee will not acquire any rights in the shares. The automatic transfer
will be deemed to be effective as of the close of business on the business day, as defined in our charter, prior to the date of the transfer. Shares of our stock held in the trust will be issued and outstanding shares. The proposed transferee will
not benefit economically from ownership of any shares of stock held in the trust, will have no rights to dividends and no rights to vote or other rights attributable to the shares of stock held in the trust. The trustee of the trust will have all
voting rights and rights to dividends or other distributions with respect to shares held in the trust. These rights will be exercised for the exclusive benefit of the charitable beneficiaries. Any dividend or other distribution paid prior to our
discovery that shares of stock have been transferred to the trust will be paid by the recipient to the trustee upon demand. Any dividend or other distribution authorized but unpaid will be paid when due to the trustee. Any dividend or distribution
paid to the trustee will be held in trust for the charitable beneficiaries. Subject to Maryland law, the trustee will have the authority to rescind as void any vote cast by the proposed transferee prior to our discovery that the shares have been
transferred to the trust and to recast the vote in accordance with the desires of the trustee acting for the benefit of the charitable beneficiaries. However, if we have already taken irreversible corporate action, then the trustee will not have the
authority to rescind and recast the vote. 
  

 Within 20 days of receiving notice from us that shares of our stock have been transferred to the trust, the
trustee will sell the shares to a person designated by the trustee, whose ownership of the shares will not violate the above ownership limitations. Upon the sale, the interest of the charitable beneficiaries in the shares sold will terminate and the
trustee will distribute the net proceeds of the sale to the proposed transferee and to the charitable beneficiaries as follows. The proposed transferee will receive the lesser of (i) the price paid by the proposed transferee for the shares or,
if the proposed transferee did not give value for the shares in connection with the event causing the shares to be held in the trust, such as a gift, devise or other similar transaction, the market price, as defined in our charter, of the shares on
the day of the event causing the shares to be held in the trust and (ii) the price per share received by the trustee from the sale or other disposition of the shares. The trustee may reduce the amount payable to the proposed transferee by the
amount of dividends and other distributions that have been paid to the proposed transferee and are owed by the proposed transferee to the trustee. Any net sale proceeds in excess of the amount payable per share to the proposed transferee will be
paid immediately to the charitable beneficiaries. If, prior to our discovery that shares of our stock have been transferred to the trust, the shares are sold by the proposed transferee, then the shares shall be deemed to have been sold on behalf of
the trust and, to the extent that the proposed transferee received an amount for the shares that exceeds the amount he was entitled to receive, the excess shall be paid to the trustee upon demand. 

In addition, shares of our stock held in the trust will be deemed to have been offered for sale to us, or our designee, at a price per share equal to the
lesser of (i) the price per share in the transaction that resulted in the transfer to the trust, or, in the case of a devise or gift, the market price at the time of the devise or gift and (ii) the market price on the date we, or our
designee, accept the offer. We will have the right to accept the offer until the trustee has sold the shares. Upon a sale to us, the interest of the charitable beneficiaries in the shares sold will terminate and the trustee will distribute the net
proceeds of the sale to the proposed transferee. We may reduce the amount payable to the proposed transferee by the amount of dividends and other distributions that have been paid to the proposed transferee and are owed by the proposed transferee to
the trustee. We may pay the amount of such reduction to the trustee for the benefit of the charitable beneficiary. 
 If the transfer to the trust as
described above is not automatically effective for any reason to prevent violation of the above limitations or our failing to qualify as a REIT, then the transfer of the number of shares that otherwise cause any person to violate the above
limitations will be void and the intended transferee shall acquire no rights in such shares. 
 All certificates, if any, representing shares of our stock
issued in the future will bear a legend referring to the restrictions described above. 
 Every owner of more than 5% of the outstanding shares of our stock
during any taxable year, or such lower percentage as required by the Code or the regulations promulgated thereunder or as otherwise required by our board of directors, within 30 days after the end of each taxable year, is required to give us written
notice, stating his or her name and address, the number of shares of each class and series of our stock which he or she beneficially owns and a description of the manner in which the shares are held. Each such owner shall provide us with such
additional information as we may request in order to determine the effect, if any, of its beneficial ownership on our status as a REIT and to ensure compliance with the ownership limits. In addition, each stockholder shall, upon demand, be required
to provide us with such information as we may request in good faith in order to determine our status as a REIT and to comply with the requirements of any taxing authority or governmental authority or to determine such compliance. 

No transfer of shares of our common stock for a value of less than $2,500 (or such other amounts as determined by our board of directors) will be permitted.
Any transferee of shares of our stock must also comply with the suitability standards we have established for our stockholders. We require that any transferee of shares of our common stock have either: 

	 	•	 	 A net worth of at least $250,000; or 

 

	 	•	 	 A gross annual income of at least $70,000 and a net worth of at least $70,000. 

Certain states have established suitability standards in addition to the minimum income and net worth standards described above, which are set forth in our
most recent prospectus for our public offering. 
 Distributions 

Distributions are made on all classes of our common stock at the same time. The per share amount of distributions on Class T shares, Class S shares,
Class D shares, Class I shares and Class N shares have and will likely continue to differ because of different allocations of class-specific stockholder servicing fees and a different allocation of advisory fees to the Class N
shares. We expect to use the “record share” method of determining the per share amount of distributions on Class T shares, Class S shares, Class D shares, Class I shares and Class N shares, although our board of
directors may choose any other method. The “record share” method is one of several distribution calculation methods for multiple-class funds recommended, but not required, by the American Institute of Certified Public Accountants. Under
this method, the amount to be distributed on our common stock is increased by the sum of all class-specific fees for such period. Such amount is divided by the number of shares of our common stock outstanding on the record date. Such per share
amount is reduced for each class of common stock by the per share amount of any class-specific fees allocable to such class. 
 Distributions are authorized
at the discretion of our board of directors, in accordance with our earnings, cash flows and general financial condition. There is no assurance we will pay distributions in any particular amount, if at all. 

Under the MGCL, our board of directors may delegate to a committee of directors the power to fix the amount and other terms of a distribution. In addition, if
our board of directors gives general authorization for a distribution and provides for or establishes a method or procedure for determining the maximum amount of the distribution, our board of directors may delegate to one of our officers the power,
in accordance with the general authorization, to fix the amount and other terms of the distribution. 
 Distributions in kind shall not be permitted, except
for distributions of readily marketable securities, distributions of beneficial interests in a liquidating trust established for our dissolution and the liquidation of our assets in accordance with the terms of our charter or distributions in which
(a) our board of directors advises each stockholder of the risks associated with direct ownership of the property, (b) our board of directors offers each stockholder the election of receiving
such in-kind distributions, and (c) in-kind distributions are made only to those stockholders that accept such offer. Our stockholders who
receive distributions in kind of marketable securities may incur transaction expenses in liquidating the securities. 
 Restrictions on Roll-Up Transactions 
 In connection with any proposed transaction considered
a “Roll-up Transaction” involving us and the issuance of securities of an entity that would be created or would survive after the successful completion of
the Roll-up Transaction, an appraisal of all of our assets must be obtained from a competent independent appraiser. If the appraisal will be included in a prospectus used to offer the securities of the roll-up entity, the appraisal shall be filed with the Securities and Exchange Commission and the states. The assets will be appraised on a consistent basis, and the appraisal will be based on the
evaluation of all relevant information and shall indicate the value of the assets as of a date immediately prior to the announcement of the proposed Roll-up Transaction. The appraisal will assume an
orderly liquidation of assets over a 12-month period. The terms of the engagement of the independent appraiser shall clearly state that the engagement is for our benefit and the benefit of our
stockholders. A summary of the appraisal, indicating all material assumptions underlying the appraisal, will be included in a report to stockholders in connection with any
proposed Roll-up Transaction. 

A “Roll-up Transaction” is a transaction involving the acquisition, merger, conversion or
consolidation, directly or indirectly, of us and the issuance of securities of another entity, or a “Roll-up Entity,” that would be created or would survive after the successful completion
of such transaction. The term Roll-up Transaction does not include: 

	 	•	 	 a transaction involving our securities that have been for at least 12 months listed on a national securities
exchange; or 

  

	 	•	 	 a transaction involving our conversion to a corporate, trust, or association form if, as a consequence of the
transaction, there will be no significant adverse change in any of the following: stockholder voting rights; the term of our existence; compensation to the Advisor; or our investment objectives. 

In connection with a proposed Roll-up Transaction, the person sponsoring
the Roll-up Transaction must offer to common stockholders who vote “no” on the proposal the choice of: 
  

	 	•	 	 accepting the securities of a Roll-up Entity offered in the proposed Roll-up Transaction; or 

  

	 	•	 	 one of the following: 

  

	 	•	 	 remaining as holders of our stock and preserving their interests therein on the same terms and conditions as
existed previously; or 

  

	 	•	 	 receiving cash in an amount equal to the stockholder’s pro rata share of the appraised value of our net
assets. 

 We are prohibited from participating in any proposed Roll-up Transaction: 

 

	 	•	 	 that would result in the common stockholders having democracy rights in a
Roll-up Entity that are less than those provided in our charter and bylaws and described in our prospectus, including rights with respect to the election and removal of directors, annual reports, annual and
special meetings, amendment of our charter, and our dissolution; 

  

	 	•	 	 that includes provisions that would operate to materially impede or frustrate the accumulation of shares of stock
by any purchaser of the securities of the Roll-up Entity, except to the minimum extent necessary to preserve the tax status of the Roll-up Entity, or which would limit
the ability of an investor to exercise the voting rights of its securities of the Roll-up Entity on the basis of the number of shares of stock held by that investor; 

 

	 	•	 	 in which investor’s rights to access of records of the Roll-up
Entity will be less than those provided in the “-Meetings and Special Voting Requirements” section above; or 

  

	 	•	 	 in which any of the costs of the Roll-up Transaction would be borne by us
if the Roll-up Transaction is rejected by our common stockholders. 

 Certain Provisions of
Maryland Law and Our Charter and Bylaws 
 Business Combinations 

Under the MGCL, business combinations between a Maryland corporation and an interested stockholder or an affiliate of an interested stockholder are prohibited
for five years after the most recent date on which the interested stockholder becomes an interested stockholder. These business combinations include a merger, consolidation, share exchange, or, in circumstances specified in the statute, an asset
transfer or issuance or reclassification of equity securities. An interested stockholder is defined as: 
  

	 	•	 	 any person who beneficially owns, directly or indirectly, 10.0% or more of the voting power of the
corporation’s outstanding voting stock; or 

  

	 	•	 	 an affiliate or associate of the corporation who, at any time within the
two-year period prior to the date in question, was the beneficial owner, directly or indirectly, of 10.0% or more of the voting power of the then outstanding stock of the corporation. 

 A person is not an interested stockholder under the statute if the board of directors approved in advance
the transaction by which such person otherwise would have become an interested stockholder. However, in approving a transaction, the board of directors may provide that its approval is subject to compliance, at or after the time of approval, with
any terms and conditions determined by the board of directors. 
 After the five-year prohibition, any business combination between the Maryland corporation
and an interested stockholder generally must be recommended by the board of directors of the corporation and approved by the affirmative vote of at least: 
  

	 	•	 	 80.0% of the votes entitled to be cast by holders of outstanding shares of voting stock of the corporation; and

  

	 	•	 	 two-thirds of the votes entitled to be cast by holders of voting
stock of the corporation other than shares of stock held by the interested stockholder with whom or with whose affiliate the business combination is to be effected or held by an affiliate or associate of the interested stockholder, voting together
as a single class. 

 These super-majority vote requirements do not apply if the corporation’s common stockholders receive a minimum
price, as defined under Maryland law, for their shares of our common stock in the form of cash or other consideration in the same form as previously paid by the interested stockholder for its shares of our common stock. 

The statute permits various exemptions from its provisions, including business combinations that are exempted by the board of directors before the time that
the interested stockholder becomes an interested stockholder. Our board of directors has adopted a resolution providing that any business combination between us and any other person is exempted from this statute, provided that such business
combination is first approved by our board of directors. This resolution, however, may be altered or repealed in whole or in part at any time. If this resolution is repealed or our board of directors fails to first approve the business combination,
the statute may discourage others from trying to acquire control of us and increase the difficulty of consummating any offer. 
 Control Share
Acquisitions 
 The MGCL provides that control shares of a Maryland corporation acquired in a control share acquisition have no voting rights except
to the extent approved by a vote of stockholders entitled to cast two-thirds of the votes entitled to be cast on the matter. Shares of stock owned by the acquiror, by officers or by employees who are
directors of the corporation are excluded from shares of stock entitled to vote on the matter. Control shares are voting shares of stock which, if aggregated with all other shares of stock owned by the acquiror or in respect of which the acquiror is
able to exercise or direct the exercise of voting power (except solely by virtue of a revocable proxy), would entitle the acquiror to exercise voting power in electing directors within one of the following ranges of voting power: 

 

	 	•	 	 one-tenth or more but less than
one-third; 

  

	 	•	 	 one-third or more but less than a majority; or 

 

	 	•	 	 a majority or more of all voting power. 

Control shares do not include shares of stock the acquiring person is then entitled to vote as a result of having previously obtained stockholder approval or
shares acquired directly from the corporation. A control share acquisition means the acquisition of issued and outstanding control shares, subject to certain exceptions. 

A person who has made or proposes to make a control share acquisition may compel our board of directors to call a special meeting of stockholders to be held
within 50 days of demand to consider the voting rights of the shares of stock. The right to compel the calling of a special meeting is subject to the satisfaction of certain conditions, including an undertaking to pay the expenses of the meeting. If
no request for a meeting is made, the corporation may itself present the question at any stockholders’ meeting. 
 If voting rights are not approved at
the meeting or if the acquiring person does not deliver an acquiring person statement as required by the statute, then the corporation may redeem for fair value any or all of the control shares, except those for which voting rights have previously
been approved. The right of the corporation to redeem control shares is subject to certain conditions and limitations. Fair value is determined, without regard to the absence of voting rights for the control shares, as of the date of any meeting of
stockholders at which the voting rights of the shares of stock are considered and not approved or, if no such meeting is held, as of the date of the last control share 

 
acquisition by the acquiror. If voting rights for control shares are approved at a stockholders’ meeting and the acquiror becomes entitled to vote a majority of the shares of stock entitled
to vote, all other stockholders may exercise appraisal rights. The fair value of the shares of stock as determined for purposes of appraisal rights may not be less than the highest price per share paid by the acquiror in the control share
acquisition. 
 The control share acquisition statute does not apply (1) to shares of stock acquired in a merger, consolidation or share exchange if
the corporation is a party to the transaction, or (2) to acquisitions approved or exempted by the charter or bylaws of the corporation. 
 Our bylaws
contain a provision exempting from the Control Share Acquisition Act any and all acquisitions of our stock by any person. There can be no assurance that this provision will not be amended or eliminated at any time in the future. 

Subtitle 8 
 Subtitle 8 of Title 3 of the MGCL
permits a Maryland corporation with a class of equity securities registered under the Exchange Act, and at least three independent directors to elect to be subject, by provision in its charter or bylaws or a resolution of its board of directors and
notwithstanding any contrary provision in the charter or bylaws, to any or all of five provisions: 
  

	 	•	 	 a classified board of directors; 

 

	 	•	 	 a two-thirds vote requirement for removing a director;

  

	 	•	 	 a requirement that the number of directors be fixed only by vote of the directors; 

 

	 	•	 	 a requirement that a vacancy on the board of directors be filled only by the remaining directors and for the
remainder of the full term of the class of directors in which the vacancy occurred; and 

  

	 	•	 	 a majority requirement for the calling of a stockholder-requested special meeting of stockholders.

 In our charter, we have elected that vacancies on our board of directors be filled only by the remaining directors and for the
remainder of the full term of the directorship in which the vacancy occurred. Through provisions in our charter and bylaws unrelated to Subtitle 8, we vest in our board of directors the exclusive power to fix the number of directorships, provided
that the number is not less than three. We have not elected to be subject to any of the other provisions of Subtitle 8. 
 Vacancies on Board of
Directors; Removal of Directors 
 Any vacancy created by the death, resignation, removal, adjudicated incompetence or other incapacity of a director
or an increase in the number of directors may be filled only by a vote of a majority of the remaining directors, even if the remaining directors do not constitute a quorum. Any director elected to fill a vacancy will serve for the remainder of the
full term of the directorship in which the vacancy occurred and until a successor is duly elected and qualifies. Our independent directors will choose the nominees to fill vacancies in our independent director positions. 

Any director may resign at any time and may be removed with or without cause by our stockholders upon the affirmative vote of at least a majority of all the
votes entitled to be cast generally in the election of directors. The notice of any special meeting called for purposes of the proposed removal shall indicate that the purpose, or one of the purposes, of the meeting is to determine if the director
shall be removed. 
 Advance Notice of Director Nominations and New Business 

Our bylaws provide that with respect to an annual meeting of stockholders, nominations of individuals for election to the board of directors and the proposal
of business to be considered by our stockholders may be made only (1) pursuant to our notice of the meeting, (2) by or at the direction of our board of directors or (3) by a stockholder who is a stockholder of record at the record
date set by our board of directors for purposes of determining stockholders entitled to vote at the annual meeting, at the time of giving the advance notice required by the bylaws and at the time of the meeting (and any postponement or adjournment
thereof), who is entitled to vote at the meeting 

 
in the election of each individual nominated or on such other business and who has complied with the advance notice procedures of the bylaws. With respect to special meetings of stockholders,
only the business specified in our notice of the meeting may be brought before the meeting. Nominations of individuals for election to our board of directors at a special meeting may be made only (1) by or at the direction of our board of
directors or (2) provided that the meeting has been called for purposes of electing directors, by a stockholder who is a stockholder of record at the record date set by our board of directors for purposes of determining stockholders entitled to
vote at the special meeting, at the time of giving the advance notice required by the bylaws and at the time of the meeting (and any postponement or adjournment thereof), who is entitled to vote at the meeting in the election of each individual
nominated and who has complied with the advance notice provisions of the bylaws. 
 Tender Offers 

Our charter provides that any tender offer made by any person, including any “mini-tender” offer, must comply with the provisions of Regulation 14D
of the Exchange Act, including, without limitation, the notice and disclosure requirements. Among other things, the offeror must provide us notice of such tender offer at least ten business days before initiating the tender offer. If a person makes
a tender offer that does not comply with such provisions, we may elect to grant tendering stockholders a rescission right with respect to their tendered shares. In addition, the non-complying offeror
will be responsible for all of our expenses in connection with that offeror’s noncompliance. 
 Anti-takeover Effect of Certain Provisions of
Maryland Law and of our Charter and Bylaws 
 The business combination provisions and the control share acquisition provisions of Maryland law, the
provision of our charter electing to be subject to a provision of Subtitle 8, and the advance notice provisions of our bylaws could delay, defer or prevent a transaction or a change in control of our company that might involve a premium price for
stockholders or otherwise be in their best interest.EX-10.10

 Exhibit 10.10 

EXECUTION VERSION 

AMENDED AND RESTATED GUARANTY 
 THIS AMENDED AND
RESTATED GUARANTY dated as of September 30, 2021 (this “Guaranty”) executed and delivered by each of the undersigned and the other Persons from time to time party hereto pursuant to the execution and delivery of an Accession Agreement
in the form of Annex I hereto (all of the undersigned, together with such other Persons each a “Guarantor” and collectively, the “Guarantors”) in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION, in its capacity as Administrative
Agent (the “Administrative Agent”) for the Lenders under that certain Amended and Restated Credit Agreement dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among NUVEEN GLOBAL CITIES REIT OP, LP (the “Borrower”), NUVEEN GLOBAL CITIES REIT, INC. (“Parent”), the financial institutions party thereto (including any financial institution which joined pursuant to
Section 2.17 thereof) and their assignees under Section 13.5 thereof (the “Lenders”), the Administrative Agent, and the other parties from time to time party thereto, for its benefit and the benefit of the Lenders, the Issuing
Bank, and the Specified Derivatives Providers (the Administrative Agent, the Lenders, the Issuing Bank, and the Specified Derivatives Providers, each individually a “Guarantied Party” and collectively, the “Guarantied Parties”).

 WHEREAS, pursuant to the Credit Agreement, the Administrative Agent, the Issuing Bank, and the other Lenders have agreed to make
available to the Borrower certain financial accommodations on the terms and conditions set forth in the Credit Agreement; 
 WHEREAS, the
Specified Derivatives Providers may from time to time enter into Specified Derivatives Contracts with a Loan Party; 
 WHEREAS, each
Guarantor is owned or controlled by the Borrower, or is otherwise an Affiliate of the Borrower; 
 WHEREAS, the Borrower and the Guarantors,
though separate legal entities, are mutually dependent on each other in the conduct of their respective businesses as an integrated operation and have determined it to be in their mutual best interests to obtain financial accommodations from the
Guarantied Parties through their collective efforts; 
 WHEREAS, this Guaranty is an amendment and restatement of that certain Guaranty
Agreement dated as of October 24, 2018 (as amended, restated, supplemented, or otherwise modified prior to the date hereof, the “Original Guaranty”), executed by the Guarantors party thereto in favor of the Administrative Agent; 

WHEREAS, each Guarantor acknowledges that it will receive direct and indirect benefits from the Guarantied Parties making such financial
accommodations; and 
 WHEREAS, each Guarantor’s execution and delivery of this Guaranty is a condition to the Guarantied Parties’
making, and continuing to make, such financial accommodations. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged by each Guarantor, each Guarantor agrees as follows: 
 Section 1. Guaranty. Each
Guarantor hereby absolutely, irrevocably and unconditionally guaranties the due and punctual payment and performance when due, whether at stated maturity, by acceleration or otherwise, of all of the following (collectively referred to as the
“Guarantied Obligations”): (a) all indebtedness and obligations owing by the Borrower or any other Loan Party to any Lender, the 

 
Issuing Bank or the Administrative Agent under or in connection with the Credit Agreement or any other Loan Document, including without limitation, the repayment of all principal of the Loans,
and the Reimbursement Obligations, and the payment of all interest, fees, charges, attorneys’ fees and other amounts payable to any Lender, the Issuing Bank or the Administrative Agent thereunder or in connection therewith; (b) all
existing or future payment and other obligations owing by any Loan Party under any Specified Derivatives Contract (other than any Excluded Swap Obligation); (c) any and all extensions, renewals, modifications, amendments or substitutions of the
foregoing; and (d) all expenses, including, without limitation, attorneys’ fees and disbursements, that are incurred by the Administrative Agent or any other Guarantied Party in the enforcement of any of the foregoing or any obligation of
such Guarantor hereunder. 
 Section 2. Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and
not of collection, and a debt of each Guarantor for its own account. Accordingly, the Guarantied Parties shall not be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy the Guarantied
Parties may have against the Borrower, any other Loan Party or any other Person or commence any suit or other proceeding against the Borrower, any other Loan Party or any other Person in any court or other tribunal; (b) to make any claim in a
liquidation or bankruptcy of the Borrower, any other Loan Party or any other Person; or (c) to make demand of the Borrower, any other Loan Party or any other Person or to enforce or seek to enforce or realize upon any collateral security held
by the Guarantied Parties which may secure any of the Guarantied Obligations. 
 Section 3. Guaranty Absolute. Each Guarantor
guarantees that the Guarantied Obligations will be paid strictly in accordance with the terms of the documents evidencing the same, regardless of any Applicable Law now or hereafter in effect in any jurisdiction affecting any of such terms or the
rights of the Guarantied Parties with respect thereto. The liability of each Guarantor under this Guaranty shall be absolute, irrevocable and unconditional in accordance with its terms and shall remain in full force and effect without regard to, and
shall not be released, suspended, discharged, terminated or otherwise affected by, any circumstance or occurrence whatsoever, including without limitation, the following (whether or not such Guarantor consents thereto or has notice thereof): 

(a) (i) any change in the amount, interest rate or due date or other term of any of the Guarantied Obligations, (ii) any change in the
time, place or manner of payment of all or any portion of the Guarantied Obligations, (iii) any amendment or waiver of, or consent to the departure from or other indulgence with respect to, the Credit Agreement, any other Loan Document, any
Specified Derivatives Contract or any other document, instrument or agreement evidencing or relating to any Guarantied Obligations (collectively, the “Guarantied Documents”), or (iv) any waiver, renewal, extension, addition, or
supplement to, or deletion from, or any other action or inaction under or in respect of, any Guarantied Document or any assignment or transfer of any Guarantied Document; 

(b) any lack of validity or enforceability of any Guarantied Document or any assignment or transfer of any Guarantied Document; 

(c) any furnishing to any of the Guarantied Parties of any security for any of the Guarantied Obligations, or any sale, exchange, release or
surrender of, or realization on, any collateral securing any of the Guarantied Obligations; 
 (d) any settlement or compromise of any of
the Guarantied Obligations, any security therefor, or any liability of any other party with respect to any of the Guarantied Obligations, or any subordination of the payment of any of the Guarantied Obligations to the payment of any other liability
of the Borrower or any other Loan Party; 

  
 2 

 (e) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution,
liquidation or other like proceeding relating to such Guarantor, any other Loan Party or any other Person, or any action taken with respect to this Guaranty by any trustee or receiver, or by any court, in any such proceeding; 

(f) any act or failure to act by any Loan Party or any other Person which may adversely affect such Guarantor’s subrogation rights, if
any, against any other Loan Party or any other Person to recover payments made under this Guaranty; 
 (g) any nonperfection or impairment
of any security interest or other Lien on any collateral, if any, securing in any way any of the Guarantied Obligations; 
 (h) any
application of sums paid by any Loan Party or any other Person with respect to the liabilities of any Loan Party to any of the Guarantied Parties, regardless of what liabilities of the Borrower remain unpaid; 

(i) any defect, limitation or insufficiency in the borrowing powers of the Borrower or in the exercise thereof; 

(j) any defense, set off, claim or counterclaim (other than indefeasible payment and performance in full) which may at any time be available
to or be asserted by any Loan Party or any other Person against any Guarantied Party; 
 (k) any change in the existence, structure or
ownership of any Loan Party; 
 (l) any statement, representation or warranty made or deemed made by or on behalf of any Loan Party under
any Guarantied Document, or any amendment hereto or thereto, proves to have been incorrect or misleading in any respect; or 
 (m) any other
circumstance which might otherwise constitute a defense available to, or a discharge of, a Guarantor hereunder (other than indefeasible payment and performance in full). 

Section 4. Action with Respect to Guarantied Obligations. The Guaranteed Parties may, at any time and from time to time, without
the consent of, or notice to, any Guarantor, and without discharging any Guarantor from its obligations hereunder, take any and all actions described in Section 3. and may otherwise: (a) amend, modify, alter or supplement the terms of any
of the Guarantied Obligations, including, but not limited to, extending or shortening the time of payment of any of the Guarantied Obligations or changing the interest rate that may accrue on any of the Guarantied Obligations; (b) amend,
modify, alter or supplement any Guarantied Document; (c) sell, exchange, release or otherwise deal with all, or any part, of any collateral securing any of the Guarantied Obligations; (d) release any Loan Party or other Person liable in
any manner for the payment or collection of any of the Guarantied Obligations; (e) exercise, or refrain from exercising, any rights against any Loan Party or any other Person; and (f) apply any sum, by whomsoever paid or however realized,
to the Guarantied Obligations in such order as the Guarantied Parties shall elect. 
 Section 5. Representations and Warranties.
Each Guarantor hereby makes to the Administrative Agent and the other Guarantied Parties all of the representations and warranties made by the Borrower with respect to or in any way relating to such Guarantor in the Credit Agreement and the
other Guarantied Documents, as if the same were set forth herein in full. 

  
 3 

 Section 6. Covenants. Each Guarantor will comply with all covenants with which
the Borrower is to cause such Guarantor to comply under the terms of the Credit Agreement or any of the other Guarantied Documents. 

Section 7. Waiver. Each Guarantor, to the fullest extent permitted by Applicable Law, hereby waives notice of acceptance hereof or
any presentment, demand, protest or notice of any kind, and any other act or thing, or omission or delay to do any other act or thing, which in any manner or to any extent might vary the risk of such Guarantor or which otherwise might operate to
discharge such Guarantor from its obligations hereunder. 
 Section 8. Inability to Accelerate. If the Guarantied Parties or any
of them are prevented under Applicable Law or otherwise from demanding or accelerating payment of any of the Guarantied Obligations by reason of any automatic stay or otherwise, the Administrative Agent and/or the other Guarantied Parties shall be
entitled to receive from each Guarantor, upon demand therefor, the sums which otherwise would have been due had such demand or acceleration occurred. 

Section 9. Reinstatement of Guarantied Obligations. If claim is ever made on the Administrative Agent or any other Guarantied
Party for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations, and the Administrative Agent or such other Guarantied Party repays all or part of said amount by reason of (a) any
judgment, decree or order of any court or administrative body of competent jurisdiction, or (b) any settlement or compromise of any such claim effected by the Administrative Agent or such other Guarantied Party with any such claimant (including
the Borrower or a trustee in bankruptcy for the Borrower), then and in such event each Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding on it, notwithstanding any revocation hereof or the cancellation
of any of the Guarantied Documents and such Guarantor shall be and remain liable to the Administrative Agent or such other Guarantied Party for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to
the Administrative Agent or such other Guarantied Party. 
 Section 10. Subrogation. Upon the making by any Guarantor of any
payment hereunder for the account of another Loan Party, such Guarantor shall be subrogated to the rights of the payee against such Loan Party; provided, however, that such Guarantor shall not enforce any right or receive any payment
by way of subrogation or otherwise take any action in respect of any other claim or cause of action such Guarantor may have against such Loan Party arising by reason of any payment or performance by such Guarantor pursuant to this Guaranty, unless
and until all of the Guarantied Obligations have been indefeasibly paid and performed in full (other than contingent obligations for which no claim has been made). If any amount shall be paid to such Guarantor on account of or in respect of such
subrogation rights or other claims or causes of action, such Guarantor shall hold such amount in trust for the benefit of the Guarantied Parties and shall forthwith pay such amount to the Administrative Agent to be credited and applied against the
Guarantied Obligations, whether matured or unmatured, in accordance with the terms of the Credit Agreement or to be held by the Administrative Agent as collateral security for any Guarantied Obligations existing. 

Section 11. Payments Free and Clear. All sums payable by each Guarantor hereunder, whether of principal, interest, fees, expenses,
premiums or otherwise, shall be paid in full, without set-off or counterclaim or any deduction or withholding whatsoever (including any Taxes), and if such Guarantor is required by Applicable Law or by any
Governmental Authority to make any such deduction or withholding such Guarantor shall pay to the Administrative Agent and the Lenders such additional amount as will result in the receipt by the Administrative Agent and the Lenders of the full amount
payable hereunder had such deduction or withholding not occurred or been required; provided, notwithstanding the foregoing, the provisions of Section 3.10 of the Credit Agreement shall apply to any payments to be made by a Guarantor
hereunder mutatis mutandis. 

  
 4 

 Section 12. Set-off. In addition to any
rights now or hereafter granted under any of the other Guarantied Documents or Applicable Law and not by way of limitation of any such rights, each Guarantor hereby authorizes each Guarantied Party and each Affiliate of a Guarantied Party, at
any time while an Event of Default exists, without any prior notice to such Guarantor or to any other Person, any such notice being hereby expressly waived, but in the case of a Guarantied Party (other than the Administrative Agent) or an Affiliate
of a Guarantied Party (other than the Administrative Agent), subject to receipt of the prior written consent of the Requisite Lenders exercised in their sole discretion, to set-off and to appropriate and to
apply any and all deposits (general or special, including, but not limited to, indebtedness evidenced by certificates of deposit, whether matured or unmatured) and any other indebtedness at any time held or owing by a Guarantied Party or an
Affiliate of a Guarantied Party to or for the credit or the account of such Guarantor against and on account of any of the Guarantied Obligations, although such obligations shall be contingent or unmatured. 

Section 13. Subordination. Each Guarantor hereby expressly covenants and agrees for the benefit of the Guarantied Parties that all
obligations and liabilities of any other Loan Party to such Guarantor of whatever description, including without limitation, all intercompany receivables of such Guarantor from any other Loan Party (collectively, the “Junior Claims”) shall
be subordinate and junior in right of payment to all Guarantied Obligations. If an Event of Default shall exist, no Guarantor shall accept any direct or indirect payment (in cash, property or securities, by setoff or otherwise) from or any other
Loan Party on account of or in any manner in respect of any Junior Claim until all of the Guarantied Obligations have been indefeasibly paid in full. 

Section 14. Avoidance Provisions. It is the intent of each Guarantor and the Guarantied Parties that in any Proceeding, such
Guarantor’s maximum obligation hereunder shall equal, but not exceed, the maximum amount which would not otherwise cause the obligations of such Guarantor hereunder (or any other obligations of such Guarantor to the Guarantied Parties) to be
avoidable or unenforceable against such Guarantor in such Proceeding as a result of Applicable Law, including without limitation, (a) Section 548 of the Bankruptcy Code and (b) any state fraudulent transfer or fraudulent conveyance act or
statute applied in such Proceeding, whether by virtue of Section 544 of the Bankruptcy Code or otherwise. The Applicable Laws under which the possible avoidance or unenforceability of the obligations of such Guarantor hereunder (or any other
obligations of such Guarantor to the Guarantied Parties) shall be determined in any such Proceeding are referred to as the “Avoidance Provisions”. Accordingly, to the extent that the obligations of any Guarantor hereunder would otherwise
be subject to avoidance under the Avoidance Provisions, the maximum Guarantied Obligations for which such Guarantor shall be liable hereunder shall be reduced to that amount which, as of the time any of the Guarantied Obligations are deemed to have
been incurred under the Avoidance Provisions, would not cause the obligations of any Guarantor hereunder (or any other obligations of such Guarantor to the Guarantied Parties), to be subject to avoidance under the Avoidance Provisions. This Section
is intended solely to preserve the rights of the Administrative Agent and the other Guarantied Parties hereunder to the maximum extent that would not cause the obligations of any Guarantor hereunder to be subject to avoidance under the Avoidance
Provisions, and no Guarantor or any other Person shall have any right or claim under this Section as against the Guarantied Parties that would not otherwise be available to such Person under the Avoidance Provisions. 

Section 15. Information. Each Guarantor assumes all responsibility for being and keeping itself informed of the financial
condition of the Loan Parties, and of all other circumstances bearing upon the risk of nonpayment of any of the Guarantied Obligations and the nature, scope and extent of the risks that such Guarantor assumes and incurs hereunder, and agrees that
neither of the Administrative Agent nor any other Guarantied Party shall have any duty whatsoever to advise any Guarantor of information regarding such circumstances or risks. 

  
 5 

 Section 16. Governing Law. THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY PERFORMED, IN SUCH STATE. 

SECTION 17. WAIVER OF JURY TRIAL. 

(a) EACH GUARANTOR, AND EACH OF THE GUARANTIED PARTIES BY ACCEPTING THE BENEFITS HEREOF, ACKNOWLEDGES THAT ANY DISPUTE OR CONTROVERSY BETWEEN
OR AMONG SUCH GUARANTOR AND ANY OF THE GUARANTIED PARTIES WOULD BE BASED ON DIFFICULT AND COMPLEX ISSUES OF LAW AND FACT AND WOULD RESULT IN DELAY AND EXPENSE TO THE PARTIES. ACCORDINGLY, TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE
GUARANTORS, AND THE GUARANTIED PARTIES BY ACCEPTING THE BENEFITS HEREOF, HEREBY WAIVES ITS RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING OF ANY KIND OR NATURE IN ANY COURT OR TRIBUNAL IN WHICH AN ACTION MAY BE COMMENCED BY OR AGAINST ANY
PARTY HERETO ARISING OUT OF THIS GUARANTY OR BY REASON OF ANY OTHER SUIT, CAUSE OF ACTION OR DISPUTE WHATSOEVER BETWEEN OR AMONG ANY GUARANTOR, THE ADMINISTRATIVE AGENT, ANY ISSUING BANK OR ANY OF THE LENDERS OF ANY KIND OR NATURE RELATING TO THIS
GUARANTY. 
 (b) EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR
PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST ANY OTHER PARTY HERETO OR ANY RELATED PARTY THEREOF IN ANY WAY RELATING TO THIS GUARANTY OR ANY OTHER LOAN DOCUMENT OR THE
TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY, AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF,
AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON
THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS GUARANTY OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT ANY PARTY HERETO MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS GUARANTY OR ANY OTHER LOAN
DOCUMENT AGAINST ANY OTHER PARTY HERETO OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. EACH PARTY FURTHER WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH
ACTION OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT FORUM, AND EACH AGREES NOT TO PLEAD OR CLAIM THE SAME. THE CHOICE OF FORUM SET FORTH IN THIS SECTION SHALL NOT BE DEEMED TO PRECLUDE THE BRINGING OF ANY ACTION BY ANY PARTY HERETO OR THE
ENFORCEMENT BY ANY PARTY HERETO OF ANY JUDGMENT OBTAINED IN SUCH FORUM IN ANY OTHER APPROPRIATE JURISDICTION. 

  
 6 

 (c) THE PROVISIONS OF THIS SECTION HAVE BEEN CONSIDERED BY EACH PARTY WITH THE ADVICE OF
COUNSEL AND WITH A FULL UNDERSTANDING OF THE LEGAL CONSEQUENCES THEREOF, AND SHALL SURVIVE THE PAYMENT OF THE LOANS AND ALL OTHER AMOUNTS PAYABLE HEREUNDER OR UNDER THE OTHER GUARANTIED DOCUMENTS, THE TERMINATION OR EXPIRATION OF ALL LETTERS OF
CREDIT AND THE TERMINATION OF THIS GUARANTY. 
 Section 18. Loan Accounts. The Administrative Agent and each other Guarantied
Party may maintain books and accounts setting forth the amounts of principal, interest and other sums paid and payable with respect to the Guarantied Obligations arising under or in connection with the Loan Documents, and in the case of any dispute
relating to any of the outstanding amount, payment or receipt of any of such Guarantied Obligations or otherwise, the entries in such books and accounts shall be binding on the Guarantors absent manifest error. The failure of the Administrative
Agent or any other Guarantied Party to maintain such books and accounts shall not in any way relieve or discharge any Guarantor of any of its obligations hereunder. 

Section 19. Waiver of Remedies. No delay or failure on the part of the Administrative Agent or any other Guarantied Party in the
exercise of any right or remedy it may have against any Guarantor hereunder or otherwise shall operate as a waiver thereof, and no single or partial exercise by the Administrative Agent or any other Guarantied Party of any such right or remedy shall
preclude any other or further exercise thereof or the exercise of any other such right or remedy. 
 Section 20. Termination.
This Guaranty shall remain in full force and effect with respect to each Guarantor until indefeasible payment in full of the Guarantied Obligations and the termination or cancellation of all Guarantied Documents in accordance with their respective
terms. 
 Section 21. Successors and Assigns. Each reference herein to the Administrative Agent or any other Guarantied Party
shall be deemed to include such Person’s respective successors and assigns (including, but not limited to, any holder of the Guarantied Obligations) in whose favor the provisions of this Guaranty also shall inure, and each reference herein to
each Guarantor shall be deemed to include such Guarantor’s successors and assigns, upon whom this Guaranty also shall be binding. The Guarantied Parties may, in accordance with the applicable provisions of the Guarantied Documents, assign,
transfer or sell any Guarantied Obligation, or grant or sell participations in any Guarantied Obligations, to any Person without the consent of, or notice to, any Guarantor and without releasing, discharging or modifying any Guarantor’s
obligations hereunder. Each Guarantor hereby consents to the delivery by the Administrative Agent and any other Guarantied Party to any Assignee or Participant (or any prospective Assignee or Participant) of any financial or other information
regarding the Borrower or any Guarantor. No Guarantor may assign or transfer its obligations hereunder to any Person without the prior written consent of all Lenders and any such assignment or other transfer to which all of the Lenders have not so
consented shall be null and void. 
 Section 22. JOINT AND SEVERAL OBLIGATIONS. THE OBLIGATIONS OF THE GUARANTORS HEREUNDER
SHALL BE JOINT AND SEVERAL, AND ACCORDINGLY, EACH GUARANTOR CONFIRMS THAT IT IS LIABLE FOR THE FULL AMOUNT OF THE “GUARANTIED OBLIGATIONS” AND ALL OF THE OBLIGATIONS AND LIABILITIES OF EACH OF THE OTHER GUARANTORS HEREUNDER. 

Section 23. Amendments. This Guaranty may not be amended except in writing signed by the Administrative Agent and each Guarantor,
subject to Section 13.6 of the Credit Agreement. 

  
 7 

 Section 24. Payments. All payments to be made by any Guarantor pursuant to this
Guaranty shall be made in Dollars, in immediately available funds to the Administrative Agent at its Principal Office, not later than 1:00 p.m. Central time, on the date that is one Business Day after demand therefor. 

Section 25. Notices. All notices, requests and other communications hereunder shall be in writing (including facsimile
transmission or similar writing) and shall be given (a) to each Guarantor at its address set forth below its signature hereto, (b) to the Administrative Agent or any other Guarantied Party at its address for notices provided for in the
Guarantied Documents, as applicable, or (c) as to each such party at such other address as such party shall designate in a written notice to the other parties. Each such notice, request or other communication shall be effective (i) if
mailed, upon the first to occur of receipt or the expiration of 3 days after the deposit in the United States Postal Service mail, postage prepaid and addressed to the address of a Guarantor or Guarantied Party at the addresses specified;
(ii) if faxed, when transmitted; or (iii) if hand delivered or sent by overnight courier, when delivered; provided, however, that in the case of the immediately preceding clauses (i) through (iii), non-receipt of any communication as the result of any change of address of which the sending party was not notified or as the result of a refusal to accept delivery shall be deemed receipt of such communication.

 Section 26. Severability. In case any provision of this Guaranty shall be invalid, illegal or unenforceable in any
jurisdiction, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 27. Headings. Section headings used in this Guaranty are for convenience only and shall not affect the construction of
this Guaranty. 
 Section 28. Limitation of Liability. None of the Administrative Agent, any other Guarantied Party or any of
their respective Related Parties shall have any liability with respect to, and each Guarantor hereby waives, releases, and agrees not to sue any of them upon, any claim for any special, indirect, incidental, or consequential damages suffered or
incurred by a Guarantor in connection with, arising out of, or in any way related to, this Guaranty, any of the other Guarantied Documents, or any of the transactions contemplated by this Guaranty or any of the other Guarantied Documents. Each
Guarantor hereby waives, releases, and agrees not to sue the Administrative Agent, any other Guarantied Party or any of their respective Related Parties for punitive damages in respect of any claim in connection with, arising out of, or in any way
related to, this Guaranty, any of the other Guarantied Documents, or any of the transactions contemplated by thereby. 
 Section 29.
Electronic Delivery of Certain Information. Each Guarantor acknowledges and agrees that information regarding the Guarantor may be delivered electronically pursuant to Section 9.5. of the Credit Agreement. 

Section 30. Right of Contribution. The Guarantors hereby agree as among themselves that, if any Guarantor shall make an Excess
Payment, such Guarantor shall have a right of contribution from each other Guarantor in an amount equal to such other Guarantor’s Contribution Share of such Excess Payment. The payment obligations of any Guarantor under this Section shall be
subordinate and subject in right of payment to the Guarantied Obligations until such time as the Guarantied Obligations have been indefeasibly paid and performed in full and the Commitments have expired or terminated, and none of the Guarantors
shall exercise any right or remedy under this Section against any other Guarantor until such Obligations have been indefeasibly paid and performed in full and the Commitments have expired or terminated. Subject to Section 10 of this Guaranty,
this Section shall not be deemed to affect any right of subrogation, indemnity, reimbursement or contribution that any Guarantor may have under Applicable Law against any other Loan Party in respect of any payment of Guarantied Obligations.
Notwithstanding the foregoing, all rights of contribution against any Guarantor shall terminate from and after such time, if ever, that such Guarantor shall cease to be a Guarantor in accordance with the applicable provisions of the Loan Documents.

  
 8 

 Section 31. Keepwell. Each Qualified ECP Guarantor hereby jointly and severally
absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under this Guaranty in respect of Swap Obligations (provided,
however, that each Qualified ECP Guarantor shall only be liable under this Section for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section, or otherwise under this Guaranty, voidable
under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section shall remain in full force and effect until termination of this
Guaranty in accordance with Section 20 hereof. Each Qualified ECP Guarantor intends that this Section constitute, and this Section shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other
Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 Section 32. Amended and Restated
Guaranty. This Guaranty amends, restates and replaces the Original Guaranty in its entirety; provided that, all accrued liabilities under the Original Guaranty (if any) of each Guarantor party to the Original Guaranty shall continue under
this Guaranty. This Guaranty is an amendment and restatement of the Original Guaranty and is not a novation. 
 Section 33.
Definitions. (a) For the purposes of this Guaranty: 
 “Contribution Share” means, for any Guarantor in respect
of any Excess Payment made by any other Guarantor, the ratio (expressed as a percentage) as of the date of such Excess Payment of (i) the amount by which the aggregate present fair salable value of all of its assets and properties exceeds the
amount of all debts and liabilities of such Guarantor (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of such Guarantor hereunder) to (ii) the amount by which the aggregate present
fair salable value of all assets and other properties of the Loan Parties other than the maker of such Excess Payment exceeds the amount of all of the debts and liabilities (including contingent, subordinated, unmatured, and unliquidated
liabilities, but excluding the obligations of the Loan Parties) of the Loan Parties other than the maker of such Excess Payment; provided, however, that, for purposes of calculating the Contribution Shares of the Guarantors in respect
of any Excess Payment, any Guarantor that became a Guarantor subsequent to the date of any such Excess Payment shall be deemed to have been a Guarantor on the date of such Excess Payment and the financial information for such Guarantor as of the
date such Guarantor became a Guarantor shall be utilized for such Guarantor in connection with such Excess Payment. 
 “Excess
Payment” means the amount paid by any Guarantor in excess of its Ratable Share of any Guarantied Obligations. 

“Proceeding” means any of the following: (i) a voluntary or involuntary case concerning any Guarantor shall be commenced
under the Bankruptcy Code; (ii) a custodian (as defined in such Bankruptcy Code or any other applicable bankruptcy laws) is appointed for, or takes charge of, all or any substantial part of the property of any Guarantor; (iii) any other
proceeding under any Applicable Law, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding-up or composition for adjustment of debts, whether now or hereafter in effect, is commenced
relating to any Guarantor; (iv) any Guarantor is adjudicated insolvent or bankrupt; (v) any order of relief or other order approving any such case or proceeding is entered by a court of competent jurisdiction; (vi) any Guarantor makes
a general assignment for the benefit of creditors; (vii) any Guarantor shall fail to pay, or shall state that it is unable to pay, or shall be unable to pay, its debts generally as they become due; (viii) any Guarantor shall call a meeting
of its creditors with a view to arranging a composition or adjustment of its debts; (ix) any Guarantor shall by any act or failure to act indicate its consent to, approval of or acquiescence in any of the foregoing; or (x) any corporate
action shall be taken by any Guarantor for the purpose of effecting any of the foregoing. 

  
 9 

 “Qualified ECP Guarantor” means, in respect of any Swap Obligation, each
Loan Party (including the Borrower) that has total assets exceeding $10,000,000 at the time the relevant Guarantee or grant of the relevant security interest becomes effective with respect to such Swap Obligation or such other person as constitutes
an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell
under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 “Ratable Share” means, for any Guarantor in respect
of any payment of Guarantied Obligations, the ratio (expressed as a percentage) as of the date of such payment of Guarantied Obligations of (i) the amount by which the aggregate present fair salable value of all of its assets and properties
exceeds the amount of all debts and liabilities of such Guarantor (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of such Guarantor hereunder) to (ii) the amount by which the aggregate
present fair salable value of all assets and other properties of all of the Loan Parties exceeds the amount of all of the debts and liabilities (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the
obligations of the Loan Parties hereunder) of the Loan Parties; provided, however, that, for purposes of calculating the Ratable Shares of the Guarantors in respect of any payment of Guarantied Obligations, any Guarantor that became a
Guarantor subsequent to the date of any such payment shall be deemed to have been a Guarantor on the date of such payment and the financial information for such Guarantor as of the date such Guarantor became a Guarantor shall be utilized for such
Guarantor in connection with such payment. 
 (b) As used herein, “Guarantors” shall mean, as the context requires,
collectively, (a) each Subsidiary identified as a “Guarantor” on the signature pages hereto, (b) each Person that joins this Guaranty as a Guarantor pursuant to Section 8.14 of the Credit Agreement,
(c) with respect to (i) any Specified Derivatives Contracts between any Loan Party (other than the Borrower) and any Specified Derivatives Provider, the Borrower and (ii) the payment and performance by each other Loan Party of its
obligations under the Guaranty with respect to all Swap Obligations, the Borrower, and (d) the successors and permitted assigns of the foregoing. 

(c) Terms not otherwise defined herein are used herein with the respective meanings given them in the Credit Agreement. 

[Signatures on Following Page] 

  
 10 

 IN WITNESS WHEREOF, each Guarantor has duly executed and delivered this Guaranty as of the
date and year first written above. 
  

			
	GUARANTORS:
	
	NUVEEN GLOBAL CITIES REIT, INC.
		
	By:	 	Nuveen Real Estate Global Cities Advisors, LLC, its advisor

  

			
		
	By:	 	/s/ Richard Kimble
		 	Name: Richard Kimble
		 	Title: Authorized Signer

  

			
	NR DENVER INDUSTRIAL PORTFOLIO LLC
		
	By:	 	Nuveen Global Cities REIT OP, LP, its member
	By:	 	Nuveen Global Cities REIT, Inc., its general partner
	By:	 	Nuveen Real Estate Global Cities Advisors, LLC its advisor

  

			
		
	By:	 	/s/ Richard Kimble
		 	Name: Richard Kimble
		 	Title: Authorized Signer

  

			
	NR 844 NORTH LLC
		
	By:	 	Nuveen Global Cities REIT OP, LP, its member
	By:	 	Nuveen Global Cities REIT, Inc., its general partner
	By:	 	Nuveen Real Estate Global Cities Advisors, LLC its advisor

  

			
		
	By:	 	/s/ Richard Kimble
		 	Name: Richard Kimble
		 	Title: Authorized Signer

  

			
	NR KIRKLAND CROSSING LLC
		
	By:	 	Nuveen Global Cities REIT OP, LP, its member
	By:	 	Nuveen Global Cities REIT, Inc., its general partner
	By:	 	Nuveen Real Estate Global Cities Advisors, LLC its advisor

  

			
		
	By:	 	/s/ Richard Kimble
		 	Name: Richard Kimble
		 	Title: Authorized Signer

  

  
 [Signature Page to
Amended and Restated Guaranty] 

 
			
	NR DEFOOR HILLS LLC
	
	By: Nuveen Global Cities REIT OP, LP, its member
	By: Nuveen Global Cities REIT, Inc., its general partner
	By: Nuveen Real Estate Global Cities Advisors, LLC its advisor
		
	By:	 	/s/ Richard Kimble
		 	Name: Richard Kimble
		 	Title: Authorized Signer
	
	NR 1 NATIONAL STREET LLC
	
	By: Nuveen Real Estate Global Cities Advisors, LLC, its manager
		
	By:	 	/s/ Richard Kimble
		 	Name: Richard Kimble
		 	Title: Authorized Signer
	
	NR EAST SEGO LILY LLC
	
	By: Nuveen Real Estate Global Cities Advisors, LLC, its manager
		
	By:	 	/s/ Richard Kimble
		 	Name: Richard Kimble
		 	Title: Authorized Signer
	
	NR HENDERSON 215 LLC
	
	By: Nuveen Global Cities REIT OP, LP, its member
	By: Nuveen Global Cities REIT, Inc., its general partner
	By: Nuveen Real Estate Global Cities Advisors, LLC its advisor
		
	By:	 	/s/ Richard Kimble
		 	Name: Richard Kimble
		 	Title: Authorized Signer

 [Signature Page to Amended and Restated Guaranty] 

 
			
	 NR GLOBE STREET INDUSTRIAL LLC

		
	By:	 	Nuveen Real Estate Global Cities Advisors, LLC, its manager
		
	By:	 	/s/ Jami Schulman
		 	Name: Jami Schulman
		 	Title: President & COO
	
	 NR 9725 DATAPOINT DRIVE LLC

		
	By: 	 	Nuveen Real Estate Global Cities Advisors, LLC, its manager
		
	By:	 	/s/ Jami Schulman
		 	Name: Jami Schulman
		 	Title: President & COO
	
	 NR MOB 4600 BILL GARDNER PARKWAY LLC

		
	 By:
	 	Nuveen Real Estate Global Cities Advisors, LLC, its manager
		
	By:	 	/s/ Jami Schulman
		 	Name: Jami Schulman
		 	Title: President & COO
	
	NR MOB 1335 NORTH MILL STREET LLC
		
	By: 	 	Nuveen Real Estate Global Cities Advisors, LLC, its manager
		
	By:	 	/s/ Jami Schulman
		 	Name: Jami Schulman
		 	Title: President & COO
	
	 NRNX MOB 2945 WILDERNESS PLACE VENTURE LLC

		
	 By:
	 	Nuveen Real Estate Global Cities Advisors, LLC, its manager
		
	By:	 	/s/ Jami Schulman
		 	Name: Jami Schulman
		 	Title: President & COO

 [Signature Page to Amended and Restated Guaranty] 

 
			
	 NR SAN ANTONIO INDUSTRIAL BUILDING LLC

	
	 By: Nuveen Real Estate Global Cities Advisors, LLC, its manager

		
	By:	 	/s/ Jami Schulman
		 	Name: Jami Schulman
		 	Title: President & COO
	
	 NR SN FLORIDA A, LLC

		
	By:	 	NR Sparrow Realty I, LLC, its sole member
	By:	 	NR Sparrow Realty Managing Member I, LLC, its managing member
	By:	 	Imajn Homes Holdings, LLC, its manager
		
	By:	 	/s/ Jami Schulman
		 	Name: Jami Schulman
		 	Title: President & COO
	
	 NR SN GEORGIA A, LLC

		
	By:	 	NR Sparrow Realty I, LLC, its sole member
	By:	 	NR Sparrow Realty Managing Member I, LLC, its managing member
	By:	 	Imajn Homes Holdings, LLC, its manager
		
	By:	 	/s/ Jami Schulman
		 	Name: Jami Schulman
		 	Title: President & COO
	
	 NR SN NC A, LLC

		
	By:	 	NR Sparrow Realty I, LLC, its sole member
	By:	 	NR Sparrow Realty Managing Member I, LLC, its managing member
	By:	 	Imajn Homes Holdings, LLC, its manager
		
	By:	 	/s/ Jami Schulman
		 	Name: Jami Schulman
		 	Title: President & COO

  
 [Signature Page to
Amended and Restated Guaranty] 

 
			
	NR SN TENNESSEE A, LLC
		
	By:	 	NR Sparrow Realty I, LLC, its sole member
	By:	 	NR Sparrow Realty Managing Member I, LLC, its managing member
	By:	 	Imajn Homes Holdings, LLC, its manager
		
	By:	 	 /s/ Jami Schulman

		 	Name: Jami Schulman
		 	Title: President & COO
	
	NR SN TEXAS A, LLC
		
	By:	 	NR Sparrow Realty I, LLC, its sole member
	By:	 	NR Sparrow Realty Managing Member I, LLC, its managing member
	By:	 	Imajn Homes Holdings, LLC, its manager
		
	By:	 	/s/ Jami Schulman
		 	Name: Jami Schulman
		 	Title: President & COO
	
	NR SN ARIZONA A, LLC
		
	By:	 	NR Sparrow Realty I, LLC, its sole member
	By:	 	NR Sparrow Realty Managing Member I, LLC, its managing member
	By:	 	Imajn Homes Holdings, LLC, its manager
		
	By:	 	 /s/ Jami Schulman

		 	Name: Jami Schulman
		 	Title: President & COO
	
	Address for Notices for all Guarantors:
	
	c/o NUVEEN GLOBAL CITIES REIT OP, LP
4675 MacArthur Court, Suite 1100
	Newport Beach, CA 92660
	Attention: Taylor Johnson
	Telephone: 949-809-2614
	Email: taylor.johnson@threalestate.com
	
	with a copy to:
	
	 c/o NUVEEN GLOBAL CITIES REIT OP, LP

8625 Andrew Carnegie Blvd, E3-S3

	Charlotte, NC 28262
	Attention: Jim Sinople and Saad Sheikh
	Telephone: 704-988-6807 and 704-988-6912
	Email: James.Sinople@threalestate.com;
	            saad.sheikh@threalestate.com

  
 [Signature Page to
Amended and Restated Guaranty] 

 
			
	BORROWER:
	
	NUVEEN GLOBAL CITIES REIT OP, LP
		
	By: 	 	Nuveen Global Cities REIT, Inc. its general partner
	By: 	 	Nuveen Real Estate Global Cities Advisors, LLC its advisor
		
	By:	 	/s/ Richard Kimble

 
			
	Name:	 	 Richard M. Kimble

	Title: 	 	 Authorized Signer 

  
 [Signature Page to
Amended and Restated Guaranty]

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