Document:

EX-4.1

  
 Exhibit 4.1 

 

			
	RIGHTS CERTIFICATE #:	  	                        NUMBER OF RIGHTS:

 THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE COMPANY’S PROSPECTUS SUPPLEMENT DATED JANUARY 4,
2016 (AS THE SAME MAY BE AMENDED, THE “PROSPECTUS SUPPLEMENT”) AND ARE INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS SUPPLEMENT AND BASE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM MORROW & CO., LLC., THE INFORMATION
AGENT. 
 EMPIRE RESORTS, INC. 

(Incorporated under the laws of the State of Delaware) 

Transferable SUBSCRIPTION RIGHTS CERTIFICATE 

Evidencing transferable Subscription Rights, each to Purchase Shares of Common Stock of Empire Resorts, Inc. 

Subscription Price: $14.40 per Share 
 THE SUBSCRIPTION RIGHTS IS
EXPECTED TO EXPIRE IF NOT EXERCISED ON OR BEFORE 5:00 P.M., NEW YORK CITY TIME, ON FEBRUARY 10, 2016, SUBJECT TO EXTENSION OR EARLIER TERMINATION. THIS CERTIFIES THAT 

the registered owner whose name is inscribed hereon and is the owner of the number of transferable subscription rights (“Rights”) set forth
above. Each Right entitles the holder thereof to subscribe for and purchase (the “Basic Subscription Right”) one share of common stock, par value of $0.01 per Share, (“Common Stock”), of Empire Resorts, Inc., a
Delaware corporation, at a subscription price of $14.40 per share (the “Subscription Price”), pursuant to a rights offering (the “Rights Offering”), on the terms and subject to the conditions set forth in the
Prospectus Supplement. Holders who fully exercise their Basic Subscription Rights are entitled to subscribe for additional shares of Common Stock that remain unsubscribed for as a result of any unexercised Basic Subscription Rights pursuant to the
terms and conditions of the Rights Offering, distributed proportionately among stockholders who exercised their over subscription rights, as described in the Prospectus Supplement (the “Oversubscription Right”). The Rights
represented by this Subscription Rights Certificate may be exercised by completing the appropriate forms on the reverse side hereof and by returning the full payment of the subscription price for each share of Common Stock. If the subscriber
attempts to exercise its Oversubscription Rights and the Company is unable to issue the subscriber the full amount of shares of Common Stock requested, the subscription agent will return to the subscriber any excess funds submitted as soon as
practicable, without interest or deduction. 
 This Subscription Rights Certificate is not valid unless countersigned by Continental Stock
Transfer & Trust Company, the subscription agent. 
 WITNESS the seal of Empire Resorts, Inc. and the signatures of its duly authorized officers.

 COUNTERSIGNED AND REGISTERED: 
  

					
	  
 Joseph D’Amato, Chief Executive
Officer
	  		  	  
 Laurette J. Pitts, EVP, Chief
Operating Officer and Chief Financial Officer

  

			
	By:	 	 
		 	  CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 FORM 1 - ELECTION TO PURCHASE 

PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY. 

The registered holder of this Subscription Rights Certificate is entitled to exercise the number of Rights shown in the upper right hand corner of the
Subscription Rights Certificate and may subscribe for additional shares of Common Stock upon the terms and conditions specified in the Prospectus Supplement. The undersigned hereby notified the subscription agent of its irrevocable election to
subscribe for shares of Common Stock in the following amounts. To subscribe for shares of Common Stock pursuant to your Basic Subscription Right, please complete lines (a) and (c) below. To subscribe for shares pursuant to your
Oversubscription Right, please also complete line (b). 
 (a) EXERCISE OF BASIC SUBSCRIPTION RIGHT 

 

															
	 	 	NUMBER OF SHARES OF
COMMON STOCK AND/OR
SHARES OF COMMON STOCK
UNDERLYING SERIES B
PREFERRED STOCK	 	 	 SUBSCRIPTION

RATIO
	 	 	 SUBSCRIPTION

PRICE
	 	 	PAYMENT
	 Basic Subscription Right
	 	 	                            	x 	 	 	        1:0.4748644        	x 	 	 	        $14.40        	= 	 	$                
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  

 (b) EXERCISE OF OVERSUBSCRIPTION RIGHT: If you have exercised your Basic Subscription Right in full and wish to subscribe
for additional shares pursuant to your Oversubscription Right 
  

															
	 	 	NUMBER OF SHARES OF
COMMON STOCK AND/OR
SHARES OF COMMON STOCK
UNDERLYING SERIES B
PREFERRED STOCK	 	 	 SUBSCRIPTION

RATIO
	 	 	 SUBSCRIPTION

PRICE
	 	 	PAYMENT
	 Oversubscription Right
	 	 	                            	x 	 	 	        1:0.4748644        	x 	 	 	        $14.40        	= 	 	$                
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  

 (c) TOTAL AMOUNT OF PAYMENT ENCLOSED
$                         

The undersigned acknowledges receipt of the Prospectus Supplement, dated January 4, 2016, in connection with the Rights Offering and agrees
to its terms. 
  

	
	   

	Signature(s) of Subscriber(s)

 IMPORTANT: THE SIGNATURE(S) MUST CORRESPOND IN EVERY PARTICULAR, WITHOUT ALTERATION, WITH THE NAME(S) AS PRINTED ON THE
FRONT OF THIS SUBSCRIPTION RIGHTS CERTIFICATE. 
 If signature is by trustee(s), executor(s), administrator(s), guardian(s), attorney(s)-in-fact,
agent(s), officer(s) of a corporation or another acting in a fiduciary or representative capacity, please provide the following information (please print). See the instructions. 

 

			
	Name(s):	 	 

  

			
	Capacity (Full Title):	 	 

 METHOD OF PAYMENT (CHECK ONE): 
  

					
		 	  ̈       
	 	CASHIER’S OR CERTIFIED CHECK DRAWN ON A U.S. BANK
		 	 ̈	 	Wire transfer of immediately available funds directly to the account maintained by Continental Stock Transfer & Trust Company, as subscription agent, for purposes of accepting subscriptions in this Rights Offering at JP
Morgan Chase Bank, ABA: 021000021, Account #: 475-508866, Continental Stock Transfer FBO Empire Resorts, Inc., with reference to the Rights holder’s name
		 	 ̈	 	U.S. POSTAL MONEY ORDER

 DELIVERY TO DIFFERENT ADDRESS: If you wish for a certificate representing the Common Stock underlying your unexercised
Rights to be delivered to an address different from that shown on the face of this Subscription Rights Certificate, please enter the alternate address below, sign and have your signature guaranteed 

 

											
	SIGNATURE GUARANTEED: 	 	  
	 		  	Signature(s): 	 	  
	 	

 IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor institution (bank, stock broker,
savings & loan association or credit union) with membership in an approved signature guarantee medallion program pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended. FOR INSTRUCTIONS ON THE USE OF EMPIRE RESORTS,
INC. SUBSCRIPTION RIGHTS CERTIFICATES, CONSULT MORROW & CO., LLC, THE INFORMATION AGENT, AT (855) 201-1081 and banks and brokerage firms may call (203) 658-9400 OR BY EMAIL (empire.info@morrowco.com). 

 FORM 2 - TRANSFER OF RIGHTS TO 

DESIGNATED TRANSFEREE 
 The registered
holder of this Subscription Rights Certificate is entitled to transfer the number of Rights shown in the upper right hand corner of the Subscription Rights Certificate upon the terms and conditions specified in the Prospectus Supplement. The
undersigned hereby notified the subscription agent of its irrevocable election to transfer the Rights as set forth below. 
 FOR VALUE RECEIVED, the
undersigned does/do hereby sell, assign, and transfer to: 
  

							
	 	 		 		 	
	Name of Transferee	 		 		 	
				
	 	 		 		 	
	Address of Transferee	 		 		 	
				
	 	 		 	 	 	
	City, State, Zip Code	 		 	Social Security Number	 	

                     Rights to purchase Common
Stock represented by certificate number(s)                      inclusive, standing in the name of the undersigned on the books of Empire
Resorts, Inc. 
 The undersigned does/do hereby irrevocably constitute and appoint Continental Stock Transfer & Trust Company, the subscription agent,
to transfer the said Rights on the books of Empire Resorts, Inc., with full power of substitution in the premises. 
 IMPORTANT: THE SIGNATURE(S) MUST
CORRESPOND IN EVERY PARTICULAR, WITHOUT ALTERATION, WITH THE NAME(S) AS PRINTED ON THE FRONT OF THIS RIGHTS CERTIFICATE. 
 If signature is by
trustee(s), executor(s), administrator(s), guardian(s), attorney(s)-in-fact, agent(s), officer(s) of a corporation or another acting in a fiduciary or representative capacity, please provide the following information (please print). See the
instructions. 
  

					
	Name(s):	 	  
	 	

					
			
	Capacity (Full Title):	 	  
	 	

  

							
	
SIGNATURE GUARANTEED:                   
                 
                                Signature(s):       
                             

 IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor institution (bank, stock broker, savings & loan
association or credit union) with membership in an approved signature guarantee medallion program pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended. FOR INSTRUCTIONS ON THE USE OF EMPIRE RESORTS, INC. SUBSCRIPTION RIGHTS
CERTIFICATES, CONSULT MORROW & CO., LLC THE INFORMATION AGENT, AT (855) 201-1081 and banks and brokerage firms may call (203) 658-9400 OR BY EMAIL (empire.info@morrowco.com).sss-exh_101.htm

  

  

  

	  	
Exhibit 10.1

	  	  
	  	  
	  	
EXECUTION VERSION

 

AGREEMENT REGARDING REVOLVING CREDIT COMMITMENT INCREASES AND FIRST AMENDMENT TO CREDIT AGREEMENT

                    THIS AGREEMENT REGARDING REVOLVING CREDIT COMMITMENT INCREASES AND FIRST AMENDMENT TO CREDIT AGREEMENT (this "Agreement") dated as of January 4, 2016, is executed by each of the Lenders a signatory hereto, MANUFACTURERS AND TRADERS TRUST COMPANY, as Administrative Agent (the "Administrative Agent"), SOVRAN SELF STORAGE, INC. ("Sovran") and SOVRAN ACQUISITION LIMITED PARTNERSHIP ("SALP"; and together with Sovran, each individually a "Borrower", and collectively, the "Borrowers").

                    WHEREAS, the Borrowers, the financial institutions from time to time party thereto as "Lenders", the Administrative Agent, and the other parties thereto, have entered into that certain Sixth Amended and Restated Revolving Credit and Term Loan Agreement dated as of December 10, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement");

                    WHEREAS, pursuant to §2.11 of the Credit Agreement, the Borrowers have requested that the Total Revolving Credit Commitment be increased;

                    WHEREAS, each Increasing Lender (defined below) is willing to increase the amount of such Increasing Lender's Revolving Credit Commitment on the terms set forth herein; and

                    WHEREAS, the Borrowers, the Lenders party hereto and the Administrative Agent desire to amend a certain provision of the Credit Agreement on the terms and conditions contained herein.

                     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged by the parties hereto, the parties hereto hereby agree as follows:

                    Section 1.  Commitment Increases.  Upon the effectiveness of this Agreement (a) the Total Revolving Credit Commitment shall be $500,000,000.00, (b) the Borrowers and each Lender the amount of whose Revolving Credit Commitment is being increased in connection with this Agreement (an "Increasing Lender") acknowledge and agree that the amount of such Increasing Lender's Revolving Credit Commitment shall be increased to the amount set forth for such Increasing Lender on Schedule 1.1(A) attached hereto as such Lender's "Revolving Credit Commitment", (c) each Increasing Lender agrees to make the payments required to be made by such Increasing Lender under §2.11 of the Credit Agreement and (d) the parties hereto agree that Schedule 1.1(A) to the Credit Agreement is restated in its entirety to read as Schedule 1.1(A) attached hereto.

                    Section 2.  Specific Amendment to Credit Agreement.  Upon the effectiveness of this Agreement, the parties hereto agree that § 2.11(b) of the Credit Agreement is hereby amended by deleting therefrom the parenthetical which reads "(and assuming the full utilization of the increased Total Revolving Credit Commitment)".

                    Section 3.  Conditions Precedent.  The effectiveness of this Agreement, including without limitation, the increases of the Revolving Credit Commitments under the immediately preceding Section 1, is subject to receipt by the Administrative Agent of each of the following, each in form and substance satisfactory to the Administrative Agent:

 

  

  

  

 

                                        (a)          a counterpart of this Agreement duly executed by the Borrowers, the Administrative Agent, each of the Increasing Lenders and the Required Lenders;

                                        (b)          Replacement Revolving Credit Notes executed by the Borrowers, payable to each Increasing Lender (other than any Increasing Lender that has notified the Administrative Agent that it does not wish to receive a replacement Revolving Credit Note) in the amount of such Increasing Lender's Revolving Credit Commitment, as applicable, set forth on Schedule 1.1(A) hereto;

                                        (c)          a Compliance Certificate in the form of Exhibit D-1 attached to the Credit Agreement, executed by the chief financial officer or treasurer of Sovran setting forth computations evidencing compliance with the covenants contained in §§10.1, 10.2, 10.3, 10.4, and 10.11 of the Credit Agreement as of the last day of the most recently ended fiscal quarter for which financial statements are available and determined on a pro forma basis after giving effect to the requested increase in the Total Revolving Credit Commitment, and, certifying that, both before and after giving effect to such requested increase in the Total Revolving Credit Commitment no Default or Event of Default exists or will exist under the Credit Agreement or any other Loan Document;

                                        (d)          an Acknowledgement substantially in the form of Exhibit A attached hereto, executed by each Guarantor;

                                        (e)          evidence that all fees, expenses and reimbursement amounts due and payable to the Administrative Agent and the Increasing Lenders have been paid; and

                                        (f)          such other documents, instruments and agreements as the Administrative Agent may reasonably request.

                    Section 4.  Representations of Borrowers.  The Borrowers represent and warrant that (x) no Default or Event of Default shall be in existence immediately after giving effect to the increases in the Revolving Credit Commitments effected hereby and (y) each of the representations and warranties of the Borrowers and the Guarantors contained in the Credit Agreement, the other Loan Documents or in any document or instrument delivered pursuant to or in connection with the Credit Agreement shall be true immediately after giving effect to this Agreement (including the increases in the Revolving Credit Commitments effected hereby) except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true in all material respects (except in the case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true in all respects) on and as of such earlier date) and except for changes in factual circumstances specifically and expressly permitted under the Credit Agreement.

                    Section 5.  Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED, AND TO BE FULLY PERFORMED, IN SUCH STATE.

                    Section 6.  Counterparts.  This Agreement may be executed in any number of counterparts each of which, when taken together, shall constitute one and the same agreement.

                    Section 7.  Headings.  Section headings have been inserted herein for convenience only and shall not be construed to be a part hereof.

  

2

  

                    Section 8.  Amendments; Waivers.  This Agreement may not be amended, changed, waived or modified except by a writing executed by each of the Increasing Lenders, the Administrative Agent, and the Borrowers.

                    Section 9.  Expenses.  The Borrowers shall reimburse the Administrative Agent upon demand for all reasonable costs and expenses (including attorneys' fees) incurred by the Administrative Agent in connection with the preparation, negotiation and execution of this Agreement and the other agreements and documents executed and delivered in connection herewith.

                    Section 10.  Benefits.  This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.

                    Section 11.  Definitions.  Terms not otherwise defined herein are used herein with the respective meanings given them in the Credit Agreement.

[Signature Pages Follow]

  

3

  

                    IN WITNESS WHEREOF, the parties hereto have caused this Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement to be executed as of the date first above written.

	  	
MANUFACTURERS AND TRADERS TRUST COMPANY,

as Administrative Agent and as a Lender

 

 

By:       /s/Susan Freed-Oestreicher                         

Name:  Susan Freed-Oestreicher

Title:    Vice President

 

[Signatures Continue on Next Page]

Sovran Self Storage, Inc. and Sovran Acquisition Limited Partnership

Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement

  

  

  

	  	
WELLS FARGO BANK, NATIONAL ASSOCIATION,

     as a Lender

 

 

By:       /s/Melissa E. LoBocchiaro                          

Name:  Melissa E. LoBocchiaro

Title:    Vice President

 

[Signatures Continue on Next Page]

Sovran Self Storage, Inc. and Sovran Acquisition Limited Partnership

Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement

  

  

  

	  	
U.S. BANK NATIONAL ASSOCIATION,

     as a Lender

 

 

By:       /s/Thomas Matesich                              

Name:  Thomas Matesich

Title:    Senior Vice President, Market Manager

 

[Signatures Continue on Next Page]

Sovran Self Storage, Inc. and Sovran Acquisition Limited Partnership

Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement

  

  

  

	  	
HSBC BANK USA NATIONAL ASSOCIATION,

     as a Lender

 

 

By:       /s/Ed Mielcarek                                         

Name:  Ed Mielcarek

Title:    Vice President

 

[Signatures Continue on Next Page]

	
  

	 

Sovran Self Storage, Inc. and Sovran Acquisition Limited Partnership

Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement

  

  

  

	  	
PNC BANK, NATIONAL ASSOCIATION,

     as a Lender

 

 

By:       /s/Gregory J. Fedorko                                  

Name:  Gregory J. Fedorko

Title:    Vice President

 

[Signatures Continue on Next Page]

Sovran Self Storage, Inc. and Sovran Acquisition Limited Partnership

Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement

  

  

  

	  	
SUNTRUST BANK, as a Lender

 

 

By:       /s/Danny Stover                                

Name:  Danny Stover

Title:    First Vice President

 

[Signatures Continue on Next Page]

Sovran Self Storage, Inc. and Sovran Acquisition Limited Partnership

Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement

  

  

  

	  	
BRANCH BANKING AND TRUST COMPANY,

     as a Lender

 

 

By:       /s/Brian Waldron                                  

Name:  Brian Waldron

Title:    Assistant Vice President

 

[Signatures Continue on Next Page]

Sovran Self Storage, Inc. and Sovran Acquisition Limited Partnership

Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement

  

  

  

	  	
FIRST NIAGARA BANK, N.A. as a Lender

 

 

By:       /s/Joseph A. Murphy                           

Name:  Joseph A. Murphy

Title:    Vice President

 

[Signatures Continue on Next Page]

Sovran Self Storage, Inc. and Sovran Acquisition Limited Partnership

Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement

  

  

  

	
  

	
Acknowledged and Accepted as of the

	
  

	
date first written above.

	
  

	
SOVRAN SELF STORAGE, INC.

By:  /s/Andrew J. Gregoire                                           

Name:   Andrew J. Gregoire

Title:     Chief Financial Officer

	
  

	
SOVRAN ACQUISITION LIMITED PARTNERSHIP

By:  Sovran Holdings, Inc., its general partner

          By:  /s/Andrew J. Gregoire                                   

          Name:   Andrew J. Gregoire

          Title:     Chief Financial Officer

Sovran Self Storage, Inc. and Sovran Acquisition Limited Partnership

Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement

  

  

  

SCHEDULE 1.1(A)

Lenders' Commitments

	
 

Lender

	
 

Revolving

Credit

Commitment

	
Revolving

Credit

Commitment Percentage

	
 

Term

Commitment

	
 

Term

Commitment Percentage

	
Wells Fargo Bank, National Association

	
$70,500,000

	
14.10000000%

	
$48,125,000

	
14.80769231%

	
Manufacturers and Traders Trust Company

	
$70,500,000

	
14.10000000%

	
$48,125,000

	
14.80769231%

	
U.S. Bank National Association

	
$68,000,000

	
13.60000000%

	
$42,875,000

	
13.19230769%

	
HSBC Bank USA, National Association

	
$68,000,000

	
13.60000000%

	
$42,875,000

	
13.19230769%

	
PNC Bank, National Association

	
$68,000,000

	
13.60000000%

	
$42,875,000

	
13.19230769%

	
SunTrust Bank

	
$68,000,000

	
13.60000000%

	
$42,875,000

	
13.19230769%

	
Branch Banking and Trust Company

	
$57,000,000

	
11.40000000%

	
$36,000,000

	
11.07692308%

	
First Niagara Bank, N.A.

	
$25,000,000

	
5.00000000%

	
$16,250,000

	
5.00000000%

	
Mega International Commercial Bank Co., Ltd. New York Branch

	
$5,000,000

	
1.00000000%

	
$5,000,000

	
1.53846154%

	
TOTAL:

	
$500,000,000

	
100%

	
$325,000,000

	
100%

  

  

  

EXHIBIT A

FORM OF GUARANTOR ACKNOWLEDGEMENT

                    THIS GUARANTOR ACKNOWLEDGEMENT dated as of January 4, 2016 (this "Acknowledgement") executed by each of the undersigned (the "Guarantors") in favor of MANUFACTURERS AND TRADERS TRUST COMPANY, as Administrative Agent (the "Administrative Agent"), and each "Lender" a party to the Credit Agreement referred to below (the "Lenders").

                    WHEREAS, Sovran Self Storage, Inc. ("Sovran") and Sovran Acquisition Limited Partnership ("SALP"; and together with Sovran, each individually a "Borrower", and collectively, the "Borrowers"), the Lenders, the Administrative Agent and certain other parties have entered into that certain Sixth Amended and Restated Revolving Credit and Term Loan Agreement dated as of December 10, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement");

                    WHEREAS, each of the Guarantors is a party to that certain Guaranty dated as of December 10, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the "Guaranty") pursuant to which they guarantied, among other things, the Borrowers' obligations under the Credit Agreement on the terms and conditions contained in the Guaranty;

                    WHEREAS, the Borrowers, the Administrative Agent and certain Lenders are to enter into an Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement dated as of the date hereof (the "Agreement"), to provide for increases in the amount of such Lenders' respective Commitment on the terms and conditions contained therein; and

                    WHEREAS, it is a condition precedent to the effectiveness of the Agreement that the Guarantors execute and deliver this Acknowledgement;

                    NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties hereto agree as follows:

                    Section 1.  Reaffirmation.  Each Guarantor hereby reaffirms its continuing obligations to the Administrative Agent and the Lenders under the Guaranty and agrees that the transactions contemplated by the Agreement shall not in any way affect the validity and enforceability of the Guaranty, or reduce, impair or discharge the obligations of such Guarantor thereunder.

                    Section 2.  Governing Law.  THIS ACKNOWLEDGEMENT 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.

                    Section 3.  Counterparts.  This Acknowledgement may be executed in any number of counterparts, each of which shall be deemed to be an original and shall be binding upon all parties, their successors and assigns.

[Signature Page Follows]

A-1

  

  

  

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

	  	
SOVRAN HOLDINGS, INC.

 

 

By:                                                                       

     Name:  

     Title:    

 

	  	
LOCKE SOVRAN I L.L.C.

LOCKE SOVRAN II L.L.C.

SOVRAN CAMERON, LLC

SOVRAN CONGRESS, LLC

SOVRAN DEGAULLE, LLC

SOVRAN GRANBURY, LLC

SOVRAN GRAPEVINE, LLC

SOVRAN HUEBNER, LLC

SOVRAN JONES ROAD, LLC

SOVRAN LITTLE ROAD, LLC

SOVRAN MANCHESTER, LLC

SOVRAN MERAMAC, LLC

SOVRAN SEMINOLE, LLC

SOVRAN SHACKELFORD, LLC

SOVRAN WASHINGTON, LLC

THE LOCKE GROUP LLC

UNCLE BOB'S MANAGEMENT, LLC

 

By:  SOVRAN ACQUISITION LIMITED

PARTNERSHIP, its sole member

 

 

	  	
     By: Sovran Holdings, Inc., its general partner

 

 

          By:                                                                  

               Name:  

               Title:     

 

Sovran Self Storage, Inc. and Sovran Acquisition Limited Partnership

Agreement Regarding Revolving Credit Commitment Increases and First Amendment to Credit Agreement

Guarantor Acknowledgment

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