Document:

Exhibit

EXECUTION VERSION

AMENDMENT NO. 1
Dated as of May 27, 2020
to
CREDIT AGREEMENT
Dated as of May 23, 2018
THIS AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment”) is made as of May 27, 2020 by and among VEREIT OPERATING PARTNERSHIP, L.P., a limited partnership formed under the laws of the State of Delaware (the “Borrower”), VEREIT, INC., a corporation incorporated under the laws of the State of Maryland (the “Parent”), the Lenders parties hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Administrative Agent”), under that certain Credit Agreement dated as of May 23, 2018 by and among the Borrower, the Parent, the financial institutions from time to time party thereto (the “Lenders”) and the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement.

WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders amend the Credit Agreement on the terms and subject to the conditions set forth herein; and
WHEREAS, the Administrative Agent and the Lenders party hereto (such Lenders constituting Requisite Lenders) are willing to amend the Credit Agreement on the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Administrative Agent and the Lenders party hereto (such Lenders constituting Requisite Lenders) hereby agree to enter into this Amendment.
1.Amendments to the Credit Agreement.  Effective as of the date hereof, and subject to the conditions set forth in Section 2 below, the Credit Agreement is hereby amended as follows:
(a)    The Credit Agreement is hereby amended by (i) deleting each reference to “Merrill Lynch, Pierce, Fenner & Smith Incorporated” set forth therein and replacing it with “BofA Securities, Inc.” and (ii) deleting each reference to “First Tennessee Bank National Association” set forth therein and replacing it with “First Horizon Bank f/k/a First Tennessee Bank National Association”.
(b)    The following definitions in Section 1.1 of the Credit Agreement are hereby amended and restated in their respective entireties to read as follows:

“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution.

“Bail-In Legislation” means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).

“Total Asset Value” means, at a given time, the sum (without duplication) of all of the following: (a) calculated on a consolidated basis for the Parent and its Subsidiaries (i) cash and Cash Equivalents (other than tenant deposits and other cash and Cash Equivalents that are subject to a Lien or a Negative Pledge or the disposition of which is restricted in any way); plus (ii) with respect to all Properties (other than Properties with NOI that is less than or equal to zero) owned (or leased pursuant to a Ground Lease) by the Borrower or any Subsidiary for the four consecutive fiscal quarter period most recently ending immediately prior to the applicable date of determination, the quotient of (A) Net Operating Income of the Parent and its Subsidiaries for such four consecutive fiscal quarter period, divided by (B) the Capitalization Rate; plus (iii) unless the Borrower shall have irrevocably elected to have such Property included in the calculation under clause (ii) above, with respect to any Property acquired during such four consecutive fiscal quarter period, the acquisition price paid for all such Properties; plus (iv) the undepreciated GAAP book value of all Development Properties; plus (v) the acquisition price of Unimproved Land, less any GAAP impairment charges specific to any such asset; plus (vi) the acquisition price of all mortgage notes receivable and mezzanine loans, less any GAAP impairment charges specific to any such asset; plus (vii) the GAAP book value of certain marketable securities of the Parent and its Subsidiaries identified on Schedule 1.1(f) (as the same may be updated from time to time by the Parent or the Borrower in writing to the Administrative Agent); plus (viii) any asset value associated with amounts then constituting Indebtedness pursuant to clauses (b) and (h) of the definition of Indebtedness (which asset value shall not exceed the corresponding amount of any such Indebtedness), plus (b) Management EBITDA for such four consecutive fiscal quarter period multiplied by five (5). The Borrower’s Ownership Share of assets held by Unconsolidated Affiliates (excluding assets of the type described in the immediately preceding clause (i)) will be included in the calculation of Total Asset Value consistent with the above described treatment for wholly owned assets. Net Operating Income attributable to (x) Properties acquired or disposed of during any four consecutive fiscal quarter period ending immediately prior to any date of determination of Total Asset Value or (y) Properties that were Development Properties at the end of such four consecutive fiscal quarter period, shall not be included in the calculation of Total Asset Value.  Notwithstanding the foregoing, for purposes of determining Total Asset Value, the amount of Total Asset Value attributable to the following excess amounts shall be excluded: 

(A)     Properties leased under Ground Leases in excess of 15% of Total Asset Value;

2

(B)     Properties that are restaurant properties in excess of 30% of Total Asset Value;

(C)     the Borrower’s Ownership Share of assets held by Unconsolidated Affiliates in excess of 20% of Total Asset Value;

(D)     the amount under clause (b) above in excess of 2.5% of Total Asset Value;

(E)    Investments in (or ownership of) Mortgage Receivables (valued based on aggregate book value) in excess of 5% of Total Asset Value;

(F)     Investments in (or ownership of) construction in excess of 5% of Total Asset Value (it being understood that (1) construction shall be measured based on book value and (2) if a Development Property is owned by an Unconsolidated Affiliate, the amount shall be equal to the product of (X) the book value for such Property and (Y) the applicable Ownership Share);

(G)     Investments in (or ownership of) unimproved land in excess of 5% of Total Asset Value; 

(H)      Investments in (or ownership of) equity investments in REITs in excess of 5% of Total Asset Value; and
(I)    the sum of all Investments or ownership interests of the type described in the immediately preceding (E), (F), (G) and (H) in excess of 20% of Total Asset Value.
 “Unencumbered Asset Value” means, as of any date of determination, the sum, without duplication, of (a)(i) with respect to all Eligible Properties owned (or leased pursuant to a Ground Lease) by the Borrower or any Subsidiary for the four consecutive fiscal quarter period ending immediately prior to such date of determination, the quotient of (x) the Unencumbered Adjusted NOI (excluding NOI that is less than or equal to zero or attributable to Development Properties) for such four consecutive fiscal quarter period, divided by (y) the Capitalization Rate, plus (ii) unless the Borrower shall have irrevocably elected to have such Eligible Property included in the calculation under clause (a)(i) above, with respect to any Eligible Property acquired during such four consecutive fiscal quarter period, the acquisition price paid for all such Eligible Properties which Eligible Properties are not subject to any Lien (other than Permitted Liens described in clauses (a) through (f) of the definition thereof) or any Negative Pledge, plus (b) calculated on a consolidated basis for the Parent and its Subsidiaries, cash and Cash Equivalents (other than tenant deposits and other cash and Cash Equivalents that are subject to a Lien or a Negative Pledge or the disposition of which is restricted in any way), plus (c) Unencumbered Management EBITDA for such four consecutive fiscal quarter period multiplied by five (5). Notwithstanding the foregoing, for purposes of determining Unencumbered Asset Value, to the extent the amount of Unencumbered Asset Value attributable to (A) Properties leased under Ground Leases would exceed 15% of Unencumbered Asset Value, such excess shall be excluded, (B) the amount under clause (c) above would exceed 2.5% of Unencumbered Asset Value, such excess shall be excluded, (C) the amount under clause (b) above would exceed, without duplication, the sum of (i) 2.5% of Unencumbered Asset Value plus (ii) up to $1.0 billion of cash and Cash 

3

Equivalents of the type described in clause (b) above solely to the extent the Borrower has reasonably designated such cash and Cash Equivalents as purchase price consideration for a proposed acquisition of an Eligible Property that is the subject of a binding purchase agreement, such excess shall be excluded and (D) Properties that are restaurant properties would exceed 30% of Unencumbered Asset Value, such excess shall be excluded.
“Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.
(c)    Section 1.1 of the Credit Agreement is hereby amended by inserting the following new definitions in the appropriate alphabetical order therein:
“Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.
“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.
“UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.
“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.
(d)    Article I of the Credit Agreement is hereby amended by inserting the following new Section 1.4 at the end thereof:
Section 1.4.    Divisions.  For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

4

(e)    Section 5.2(b) of the Credit Agreement is hereby amended by deleting the reference to the phrase “(which such notice shall note with specificity the particular provisions of the amendment to which such Lender objects)” set forth therein.
(f)    Section 7.1(a) of the Credit Agreement is hereby amended by amending and restating the last sentence therein in its entirety to read as follows:
None of the Parent, the Borrower, any other Loan Party or any other Subsidiary is an Affected Financial Institution.
(g)    Section 13.21 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Section 13.21.  Acknowledgement and Consent to Bail-In of Affected Financial Institutions.
Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:
(a)    the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and
(b)    the effects of any Bail-In Action on any such liability, including, if applicable:
(i)    a reduction in full or in part or cancellation of any such liability;
(ii)    a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or
(iii)    the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority.
(h)    Article XIII of the Credit Agreement is hereby amended by inserting the following new Section 13.23 at the end thereof:
Section 13.23    Acknowledgement Regarding Any Supported QFCs.  
To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Derivatives Contracts or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and, each such QFC, a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit 

5

Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States): 
(a)    In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.  
(b)    As used in this Section 13.23, the following terms have the following meanings:
“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.
“Covered Entity” means any of the following:
(i)    a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);
(ii)    a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or
(iii)    a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).
“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.
“QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).

6

2.    Conditions of Effectiveness.  The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent:
(a)    The Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrower, the Parent, the Administrative Agent and the Requisite Lenders. 
(b)    The Administrative Agent shall have received all fees referenced in that certain Amendment No. 1 Fee Letter, dated as of the date hereof, among the Borrower, the Administrative Agent and Wells Fargo Securities, LLC and the payment of all other reasonable and documented out-of-pocket fees and expenses in connection with this Amendment and the other Loan Documents relating hereto required to be paid on or before the effectiveness of this Amendment (including, to the extent invoiced, the reasonable and documented out-of-pocket fees and expenses of Sidley Austin LLP).
3.    Representations and Warranties of the Parent and the Borrower.  The Parent and the Borrower each hereby represents and warrants as follows:
(a)    The execution, delivery and performance by each Loan Party of this Amendment are within such Loan Party’s corporate, limited liability company or partnership powers and have been duly authorized by all necessary action.  This Amendment has been duly executed and delivered by the duly authorized officers of each Loan Party party thereto and is a legal, valid and binding obligation of such Loan Party enforceable against such Loan Party in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, and other similar laws affecting the rights of creditors generally and the availability of equitable remedies for the enforcement of certain obligations contained herein or therein and as may be limited by equitable principles generally.
(b)    As of the date hereof and after giving effect to the terms of this Amendment, (i) no Default or Event of Default has occurred and is continuing and (ii) the representations and warranties set forth in the Credit Agreement are true and correct in all material respects (except in the case of a representation or warranty qualified by materiality, Material Adverse Effect or similar language, in which case such representation or warranty shall be true and correct in all respects) except to the extent that such representations and warranties relate to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (except in the case of a representation or warranty qualified by materiality, Material Adverse Effect or similar language, in which case such representation or warranty shall be true and correct in all respects) on and as of such earlier date).
4.    Reference to and Effect on the Credit Agreement.
(a)    Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be a reference to the Credit Agreement as amended hereby.
(b)    The Credit Agreement and all other documents, instruments and agreements executed and/or delivered in connection therewith, including, without limitation, that certain Guaranty dated as of May 23, 2018 executed and delivered by Parent in favor of the Administrative Agent, shall remain in full force and effect and are hereby reaffirmed, ratified and confirmed.
(c)    Except with respect to the subject matter hereof, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement or any other documents, instruments and agreements executed and/or delivered in connection therewith or 

7

constitute a course of conduct or dealing among the parties.  Except as amended hereby, the Credit Agreement and other Loan Documents remain unmodified and in full force and effect. 
(d)    This Amendment is a Loan Document.
5.    Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY PERFORMED, IN SUCH STATE.
6.    Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment.
7.    Entire Agreement. The Credit Agreement, as amended hereby, together with all other Loan Documents, embodies the entire agreement and understanding among the parties hereto and supersedes all prior or contemporaneous agreements and understandings of such Persons, verbal or written, relating to the subject matter hereof and thereof.
8.    Successors and Assigns. This Amendment shall be binding upon the Borrower, the other Loan Parties, the Lenders and the Administrative Agent and their respective successors and permitted assigns, and shall inure to the benefit of the Borrower, the other Loan Parties, the Lenders and the Administrative Agent and the successors and permitted assigns of the Lenders and the Administrative Agent.  No other Person shall be a direct or indirect legal beneficiary of, or have any direct or indirect cause of action or claim in connection with, this Amendment or any of the other Loan Documents. The Borrower may not assign or transfer any of its rights or Obligations under this Amendment without the prior written consent of the Administrative Agent and each Lender. 
9.    Counterparts.  This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, including both paper and electronic counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Signatures delivered by facsimile or PDF shall have the same force and effect as manual signatures delivered in person.  This Amendment may be executed using Electronic Signatures (including, without limitation, facsimile and .pdf) and shall be considered an original, and shall have the same legal effect, validity and enforceability as a paper record.  For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance by the Administrative Agent of a manually signed paper hereof which has been converted into electronic form (such as scanned into PDF format), or an electronically signed communication converted into another format, for transmission, delivery and/or retention.  For purposes hereof, “Electronic Signature” shall have the meaning assigned to it by 15 USC §7006, as it may be amended from time to time. 
[Signature Pages Follow]

8

IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.

VEREIT OPERATING PARTNERSHIP, L.P., as the Borrower

By:  /s/ Michael J. Bartolotta             
Name: Michael J. Bartolotta
Title:  Executive Vice President and Chief Financial Officer

VEREIT, INC., as the Parent

By:  /s/ Michael J. Bartolotta             
Name: Michael J. Bartolotta
Title:  Executive Vice President and Chief Financial Officer

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and as a Lender

By: /s/ Dale Northup                
Name: Dale Northup
Title: Senior Vice President

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

BANK OF AMERICA, N.A., 
as a Lender

By: /s/ Thomas W. Nowak            
     Name: Thomas W. Nowak
     Title: Vice President

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

CAPITAL ONE, NATIONAL ASSOCIATION, 
as a Lender

By: /s/ Jessica W. Phillips            
Name: Jessica W. Phillips
Title: Authorized Signatory

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

US BANK NATIONAL ASSOCIATION, 
as a Lender

By: /s/ Donald J. Pafford            
Name: Donald J. Pafford
Title: Senior Vice President

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

BMO HARRIS BANK, N.A., 
as a Lender

By: /s/ Jonas L. Robinson            
Name: Jonas L. Robinson
Title:    Vice President

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

CITIBANK, N.A., 
as a Lender

By: /s/ Christopher Albano            
Name: Christopher Albano
Title: Authorized Signatory

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

JPMORGAN CHASE BANK, N.A., 
as a Lender

By: /s/ Bryce Hy            
Name: Bryce Hy
Title: Vice President

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

BARCLAYS BANK PLC, 
as a Lender

By: /s/ Sean Duggan            
Name: Sean Duggan
Title: Vice President

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

REGIONS BANK, 
as a Lender

By: /s/ C. Vincent Hughes, Jr.            
Name: C. Vincent Hughes, Jr.
Title:    Vice President

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

MIZUHO BANK, LTD., 
as a Lender

By: /s/ Donna DeMagistris            
Name: Donna DeMagistris
Title: Authorized Signatory

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

SUMITOMO MITSUI BANKING CORPORATION, 
as a Lender

By: /s/ Michael Maguire                
Name: Michael Maguire
Title: Managing Director

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

KEYBANK NATIONAL ASSOCIATION, 
as a Lender

By: /s/ Jennifer Power            
Name: Jennifer Power
Title: Vice President

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

THE BANK OF NEW YORK MELLON, 
as a Lender

By: /s/ Rick Laudisi            
Name: Rick Laudisi
Title: Managing Director

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

GOLDMAN SACHS BANK USA, 
as a Lender

By: /s/ Jamie Minieri            
Name: Jamie Minieri
Title: Authorized Signatory

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

MORGAN STANLEY BANK, N.A.,
as a Lender

By: /s/ Christopher Winthrop            
Name: Christopher Winthrop
Title: Authorized Signatory

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

FIRST HORIZON, f/k/a
FIRST HORIZON TENNESSEE BANK NATIONAL ASSOCIATION,
as a Lender

By: /s/ Thomas C. Owens            
Name: Thomas C. Owens
Title: Senior Vice President

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

PEOPLE’S UNITED BANK, N.A.,
as a Lender

By: /s/ Victor Galatti            
Name: Victor Galatti
Title: Senior Vice President

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

COMERICA BANK,
as a Lender

By: /s/ Casey L. Stevenson            
Name: Casey L. Stevenson
Title: Vice President

[Signatures Continued on Next Page]

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.

BANK HAPOALIM B.M.,
as a Lender

By: /s/ Marline Alexander            
Name: Marline Alexander
Title: Senior Vice President

By: /s/ Louis Barone                
Name: Louis Barone
Title: Senior Vice President

Signature Page to Amendment No. 1 to Credit Agreement
VEREIT OPERATING PARTNERSHIP, L.P.Exhibit
10.1

 

STOCK
PURCHASE AGREEMENT

 

THIS
STOCK PURCHASE AGREEMENT (this “Agreement”), is made as of May 26, 2020 by and among Anchorage International
Holdings Corp., a Delaware corporation (the “Company”), and David Lazar, a United States citizen (the “Purchaser”,
and together with the Company the “Parties” and each a “Party”).

 

The
parties hereby agree as follows:

 

1. Purchase
and Sale of Stock.

 

1.1 Sale
and Issuance of Stock. Subject to the terms and conditions of this Agreement, the Purchaser agrees to purchase at the Closing
and the Company agrees to sell and issue to the Purchaser at the Closing 811,020,000 shares of common stock, $0.00001 par value
per share (the “Common Stock”), at a purchase price of $0.00001 per share. The shares of Common Stock issued
to the Purchaser pursuant to this Agreement shall be referred to in this Agreement as the “Shares.”

 

1.2 Closing;
Delivery. The initial purchase and sale of the Shares shall take place remotely via the exchange of documents and signatures,
at such other time and place as the Company and the Purchaser mutually agree upon, orally or in writing (which time and place are
designated as the “Closing”). At the Closing, the Company shall deliver to the Purchaser a certificate representing
the Shares being purchased against payment of the purchase price therefor by check payable to the Company, by wire transfer to
a bank account designated by the Company, by delivery of a promissor note, by cancellation or conversion of indebtedness of the
Company to Purchaser, including interest, or by any combination of such methods.

 

1.3 Defined
Terms Used in this Agreement. In addition to the terms defined above, the following terms used in this Agreement shall be
construed to have the meanings set forth or referenced below.

 

(a) “Affiliate”
means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under
common control with such Person, including, without limitation, any general partner, managing member, officer, director or trustee
of such Person, or any venture capital fund or registered investment company now or hereafter existing that is controlled by one
or more general partners, managing members or investment advisers of, or shares the same management company or investment adviser
with, such Person.

 

(b) “Code”
means the Internal Revenue Code of 1986, as amended.

 

(c) “Knowledge”
including the phrase “to the Company’s knowledge” shall mean the actual knowledge of the following officers:
David Lazar.

 

(d) “Material
Adverse Effect” means a material adverse effect on the business, assets (including intangible assets), liabilities, financial
condition, property, prospects or results of operations of the Company.

 

(e) “Person”
means any individual, corporation, partnership, trust, limited liability company, association or other entity.

 

(f) “Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

     

     

    

 

2.
Representations and Warranties of the Company. The Company hereby represents and warrants to the Purchaser that,
to the Company’s knowledge, the following representations are true and complete as of the Closing, except as otherwise indicated.

 

2.1
Organization, Good Standing, Corporate Power and Qualification. The Company is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry
on its business as now conducted and as presently proposed to be conducted. The Company is duly qualified to transact business
and is in good standing in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect.

 

2.2
Capitalization.

 

(a) The
authorized capital of the Company consists, immediately prior to the Closing, of: (i) 2,000,000,000 shares of common stock, $0.00001
par value per share (the “Common Stock”), 938,980,000 shares of which are issued and outstanding immediately
prior to the Closing; and (ii) 10,000,000 shares of Preferred Stock, none of which are issued and outstanding immediately prior
to the Closing. All of the outstanding shares of Common Stock have been duly authorized, are fully paid and nonassessable and were
issued in compliance with all applicable federal and state securities laws.

 

2.3
Subsidiaries. The Company does not currently own or control, directly or indirectly, any interest in any other corporation,
partnership, trust, joint venture, limited liability company, association, or other business entity. The Company is not a participant
in any joint venture, partnership or similar arrangement.

 

2.4
Authorization. All corporate action required to be taken by the Company’s Board of Directors and stockholders
in order to authorize the Company to enter into the Agreement, and to issue the Shares at the Closing, has been taken or will
be taken prior to the Closing. All action on the part of the officers of the Company necessary for the execution and delivery
of the Agreement, the performance of all obligations of the Company under the Agreement to be performed as of the Closing, and
the issuance and delivery of the Shares has been taken or will be taken prior to the Closing. The Agreement, when executed and
delivered by the Company, shall constitute valid and legally binding obligations of the Company, enforceable against the Company
in accordance with their respective terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights
generally, or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable
remedies,.

 

2.5 Valid
Issuance of Shares. The Shares, when issued, sold and delivered in accordance with the terms and for the consideration
set forth in this Agreement, will be validly issued, fully paid and nonassessable and free of restrictions on transfer other
than restrictions on transfer under the Agreement, applicable state and federal securities laws and liens or encumbrances
created by or imposed by a Purchaser. Assuming the accuracy of the representations of the Purchaser in Section 3 of
this Agreement, the Shares will be issued in compliance with all applicable federal and state securities laws. 

 

2.6
Governmental Consents and Filings. Assuming the accuracy of the representations made by the Purchaser in Section 3
of this Agreement, no consent, approval, order or authorization of, or registration, qualification, designation, declaration
or filing with, any federal, state or local governmental authority is required on the part of the Company in connection with the
consummation of the transactions contemplated by this Agreement, except for filings pursuant to Regulation D of the Securities
Act, and applicable state securities laws, which have been made or will be made in a timely manner.

 

    2

     

    

 

2.7
Litigation. There is no claim, action, suit, proceeding, arbitration, complaint, charge or investigation pending
or to the Company’s knowledge, currently threatened in writing against the Company or any officer, or, to the Company’s
knowledge, that questions the validity of the Agreement or the right of the Company to enter into the Agreement.

 

2.8
Property. The property and assets that the Company owns are free and clear of all mortgages, deeds of trust, liens,
loans and encumbrances, except for statutory liens for the payment of current taxes that are not yet delinquent and encumbrances
and liens that arise in the ordinary course of business and do not materially impair the Company’s ownership or use
of such property or assets. With respect to the property and assets it leases, the Company is in compliance with such leases and
holds a valid leasehold interest free of any liens, claims or encumbrances other than those of the lessors of such property or
assets. The Company does not own any real property.

 

2.9
Financial Statements. The Company makes no representations or warranties with regard to its financial statements.

 

3.
Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants to the Company, severally
and not jointly, that:

 

3.1
Authorization. The Purchaser has full power and authority to enter into the Agreement. The Agreement to which the
Purchaser is a party, when executed and delivered by the Purchaser, will constitute valid and legally binding obligations of the
Purchaser, enforceable in accordance with their terms, except as limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance and any other laws of general application affecting enforcement of creditors’ rights generally,
and as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

 

3.2
Purchase Entirely for Own Account. This Agreement is made with the Purchaser in reliance upon the Purchaser’s
representation to the Company, which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that
the Shares to be acquired by the Purchaser will be acquired for investment for the Purchaser’s own account, not as a nominee
or agent, and not with a view to the resale or distribution of any part thereof, and that the Purchaser has no present intention
of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, the Purchaser further
represents that the Purchaser does not presently have any contract, undertaking, agreement or arrangement with any Person to sell,
transfer or grant participations to such Person or to any third Person, with respect to any of the Shares. The Purchaser has not
been formed for the specific purpose of acquiring the Shares.

 

3.3
Disclosure of Information. The Purchaser has had an opportunity to discuss the Company’s business, management,
financial affairs and the terms and conditions of the offering of the Shares with the Company’s management and has had an
opportunity to review the Company’s facilities. The foregoing, however, does not limit or modify the representations and
warranties of the Company in Section 2 of this Agreement or the right of the Purchaser to rely thereon.

 

3.4
Restricted Securities. The Purchaser understands that the Shares have not been, and will not be, registered under
the Securities Act, by reason of a specific exemption from the registration provisions of the Securities Act which depends upon,
among other things, the bona fide nature of the investment intent and the accuracy of the Purchaser’s representations as
expressed herein. The Purchaser understands that the Shares are “restricted securities” under applicable U.S. federal
and state securities laws and that, pursuant to these laws, the Purchaser must hold the Shares indefinitely unless they are registered
with the Securities and Exchange Commission and qualified by state authorities, or an exemption from such registration and qualification
requirements is available. The Purchaser acknowledges that the Company has no obligation to register or qualify the Shares for
resale. The Purchaser further acknowledges that if an exemption from registration or qualification is available, it may be conditioned
on various requirements including, but not limited to, the time and manner of sale, the holding period for the Shares, and on
requirements relating to the Company which are outside of the Purchaser’s control, and which the Company is under no obligation
and may not be able to satisfy.

 

    3

     

    

 

3.5
Legends. The Purchaser understands that the Shares and any securities issued in respect of or exchange for the Shares,
may be notated with one or all of the following legends:

 

“THE SHARES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH
A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED
UNDER THE SECURITIES ACT OF 1933.”

 

3.6
Accredited Investor. The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated
under the Securities Act.

 

3.7
Foreign Investors. If the Purchaser is not a United States person (as defined by Section 7701(a)(30) of the
Code), the Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction
in connection with any invitation to subscribe for the Shares or any use of this Agreement, including (i) the legal requirements
within its jurisdiction for the purchase of the Shares, (ii) any foreign exchange restrictions applicable to such purchase,
(iii) any governmental or other consents that may need to be obtained, and (iv) the income tax and other tax consequences,
if any, that may be relevant to the purchase, holding, redemption, sale, or transfer of the Shares. The Purchaser’s subscription
and payment for and continued beneficial ownership of the Shares will not violate any applicable securities or other laws of the
Purchaser’s jurisdiction.

 

3.8
No General Solicitation. Neither the Purchaser, nor any of its officers, directors, employees, agents, stockholders
or partners has either directly or indirectly, including, through a broker or finder (a) engaged in any general solicitation,
or (b) published any advertisement in connection with the offer and sale of the Shares.

 

4.
Conditions to the Purchaser’
Obligations at Closing. The obligations of the Purchaser to purchase Shares at the Closing are subject to the fulfillment,
on or before the Closing, of each of the following conditions, unless otherwise waived:

 

4.1
Representations and Warranties. The representations and warranties of the Company contained in Section 2
shall be true and correct in all respects as of the Closing.

 

4.2
Performance. The Company shall have performed and complied with all covenants, Agreement, obligations and conditions
contained in this Agreement that are required to be performed or complied with by the Company on or before the Closing.

 

    4

     

    

 

5.
Conditions of the Company’s Obligations at Closing. The obligations of the Company to sell Shares to the Purchaser
at the Closing are subject to the fulfillment, on or before the Closing, of each of the following conditions, unless otherwise
waived:

 

5.1
Representations and Warranties. The representations and warranties of the Purchaser contained in Section 3
shall be true and correct in all respects as of the Closing.

 

5.2
Performance. The Purchaser shall have performed and complied with all covenants, Agreement, obligations and conditions
contained in this Agreement that are required to be performed or complied with by them on or before the Closing.

 

5.3 Qualifications.
All authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United States or of
any state that are required in connection with the lawful issuance and sale of the Shares pursuant to this Agreement shall be
obtained and effective as of the Closing.

 

6.
Miscellaneous.

 

6.1
Survival of Warranties. Unless otherwise set forth in this Agreement, the representations and warranties of the
Company and the Purchaser contained in or made pursuant to this Agreement shall survive the execution and delivery of this Agreement
and the Closing and shall in no way be affected by any investigation or knowledge of the subject matter thereof made by or on
behalf of the Purchaser or the Company.

 

6.2
Successors and Assigns.
The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns
of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto
or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement.

 

6.3
Governing Law. This Agreement
shall be governed by the internal law of the State of Delaware, without regard to conflict of law principles that would result
in the application of any law other than the law of the State of Delaware.

 

6.4
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic
mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com)
or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid
and effective for all purposes.

 

6.5
Titles and Subtitles. The
titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting
this Agreement.

 

6.6 Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed
effectively given upon the earlier of actual receipt, or (a) personal delivery to the party to be notified, (b) when sent, if
sent by electronic mail or facsimile during normal business hours of the recipient, and if not sent during normal business
hours, then on the recipient’s next business day, (c) five (5) days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized
overnight courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All
communications shall be sent to the respective parties at their address as set forth on the signature page or Exhibit
A, or to such e-mail address, facsimile number or address as subsequently modified by written notice given in accordance
with this Subsection 6.6.

 

    5

     

    

 

6.7
No Finder’s Fees. Each party represents that it neither is nor will be obligated for any finder’s fee
or commission in connection with this transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any
liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction
(and the costs and expenses of defending against such liability or asserted liability) for which the Purchaser or any of
its officers, employees or representatives is responsible. The Company agrees to indemnify and hold harmless the Purchaser from
any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this
transaction (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any
of its officers, employees or representatives is responsible.

 

6.8
Amendments and Waivers. Any term of this Agreement may be amended, terminated or waived only with the written consent
of the Company and the Purchaser.

 

6.9
Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or
enforceability of any other provision.

 

6.10
Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this
Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of
such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence
therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default
be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval
of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of
any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically
set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative
and not alternative.

 

6.11
Entire Agreement. This Agreement constitutes the full and entire understanding and agreement between the parties
with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing
between the parties are expressly canceled.

 

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

 

    6

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Common Stock Purchase Agreement as of the date first written above.

 

	
         
	COMPANY:
	 	Anchorage International Holdings Corp.

 

	 	By:	 
	 	Name: 	David Lazar
	 	Title:	CEO
	 	Email: 	david@activistinvestingllc.com

 

	 	PURCHASER:
	 	David Lazar

 

	 	 
	 	Email: 	david@activistinvestingllc.com

 

Signature
Page to Stock Purchase Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}]]