Document:

Exhibit 10.2-3.31.14-10Q

EXHIBIT 10.2

JOINDER AGREEMENT

THIS JOINDER AGREEMENT dated as of March 26, 2014, executed and delivered by CANTERA 30 THEATRE, L.P., a Delaware limited partnership, TAMPA VETERANS 24, L.P., a Delaware limited partnership, and NEW ROC ASSOCIATES, L.P., a New York limited partnership (each a “Borrower” and, collectively, the “New Borrowers”), in favor of (a) KEYBANK NATIONAL ASSOCIATION, in its capacity as Agent (the “Agent”) for the Lenders under that certain Amended and Restated Credit Agreement dated as of July 23, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among EPR PROPERTIES and the Subsidiary Borrowers referred to therein (collectively, the “Borrowers”), the financial institutions party thereto and their assignees under Section 12.5 thereof (the “Lenders”), the Agent, and the other parties thereto, and (b) the Lenders.
WHEREAS, pursuant to the Credit Agreement, the Agent and the Lenders have agreed to make available to the Borrowers certain financial accommodations on the terms and conditions set forth in the Credit Agreement;
WHEREAS, the Borrowers and each New Borrower, though separate legal entities, have a commonality of interests in their respective financing needs and have determined it to be in their mutual best interests to obtain financing from the Agent and the Lenders through their collective efforts;
WHEREAS, each New Borrower acknowledges that it will receive direct and indirect benefits from the Agent and the Lenders making such financial accommodations available to the Borrowers under the Credit Agreement and, accordingly, each New Borrower is willing to join in and guarantee the Borrowers’ obligations to the Agent and the Lenders on the terms and conditions contained herein; and
WHEREAS, each New Borrower’s execution and delivery of this Agreement is a condition to the Agent and the Lenders continuing to make such financial accommodations to the Borrowers.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each New Borrower, each New Borrower agrees as follows:
Section 1.  Accession to Loan Documents.  Each New Borrower hereby agrees that it is a “Subsidiary Borrower” under each Note and the Credit Agreement and assumes all obligations of a “Subsidiary Borrower” thereunder and agrees to be bound thereby, all as if each New Borrower had been an original signatory to each Note and the Credit Agreement.  Without limiting the generality of the foregoing, each New Borrower hereby:
(a)    irrevocably and unconditionally guarantees the due and punctual payment and performance when due, whether at stated maturity, by acceleration or otherwise, of all Obligations (as defined in the Credit Agreement);
(b)    makes to the Agent and the Lenders as of the date hereof each of the representations and warranties contained in the Credit Agreement made by the Borrowers and agrees to be bound by each of the covenants of the Borrowers contained in the Credit Agreement; and
(c)    consents and agrees to each provision set forth in each Note and the Credit Agreement.
SECTION 2.  GOVERNING LAW.  THIS AGREEMENT 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 3.  Definitions.  Capitalized terms used herein and not otherwise defined herein shall have their respective defined meanings given them in the Credit Agreement.
[Signatures on Next Page]

IN WITNESS WHEREOF, each New Borrower has caused this Joinder Agreement to be duly executed and delivered under seal by its duly authorized officers as of the date first written above.
CANTERA 30 THEATRE, L.P.

		
	By:
	Cantera 30, Inc., a Delaware corporation, its general partner

By:  /s/ Mark Peterson            
Mark Peterson, Vice President

TAMPA VETERANS 24, L.P.

		
	By:
	Tampa Veterans 24, Inc., a Delaware corporation, its general partner

By:  /s/ Mark Peterson            
Mark Peterson, Vice President

NEW ROC ASSOCIATES, L.P.

By:    EPT New Roc GP, Inc., a Delaware corporation,
its general partner

By:  /s/ Mark Peterson            
Mark Peterson, Vice President

Address for Notices (all New Borrowers):
c/o EPR Properties
909 Walnut Street, Suite 200
Kansas City, MO  64106
Attention:     Mark A. Peterson
Telephone:    816-472-1700
Telecopy:     816-472-5794

Accepted:

KEYBANK NATIONAL ASSOCIATION, as Agent

By:  /s/ Jane E. McGrath        
       Name:  Jane E. McGrath
       Title:    Vice President

[Signature Page to Joinder Agreement]Exhibit 10.3-3.31-14-10Q

EXHIBIT 10.3

LENDER JOINDER AGREEMENT

This LENDER JOINDER AGREEMENT (this "Agreement"), dated as of March 26, 2014, to the Credit Agreement (as defined below) is by and among BOKF, NA d/b/a BANK OF KANSAS CITY (the "Issuing Lender"), EPR PROPERTIES, a Maryland real estate investment trust, and the Subsidiary Borrowers that are signatories hereto (each, a “Borrower” and, collectively, the “Borrowers”) and KEYBANK NATIONAL ASSOCIATION, as administrative agent (in such capacity, the "Administrative Agent") for the Lenders.  Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement (as defined below).

RECITALS

WHEREAS, the Borrowers, the other Lenders party thereto and the Administrative Agent entered into that certain Amended and Restated Credit Agreement dated as of July 23, 2013 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the "Credit Agreement"); 

WHEREAS, the Borrowers have requested an increase in the aggregate Commitments pursuant to Section 2.14 of the Credit Agreement; and

WHEREAS, the Issuing Lender has agreed to provide a Commitment on the terms and conditions set forth herein and under the Credit Agreement.

NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

AGREEMENT

1.The Issuing Lender hereby agrees to issue its Commitment in the aggregate amount set forth on Annex A hereto, with the increase in the aggregate Commitments being handled on pro rata basis with all Lenders in accordance with Section 2.14(e)(v)(A) of the Credit Agreement.  
2.The Issuing Lender  (a) represents and warrants that it has full power and authority, and has taken all action necessary, to execute and deliver this Agreement and to consummate the transactions contemplated hereby and to issue its Commitment under the Credit Agreement; (b) confirms it has received a copy of the Credit Agreement, and has received or has been afforded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 8.1 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Agreement and to issue its Commitment under the Credit Agreement; (c) confirms it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and to issue its Commitment under the Credit Agreement; (d) if it is a Foreign Lender, agrees to provide any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Issuing Lender; and (e) agrees that (i) it will, independently and without reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.
3.Borrowers hereby represent and warrant that (1) they have full power and authority, and have taken all action necessary, to execute and deliver this Agreement and to consummate the transactions contemplated hereby and to issue the Indebtedness under the Credit Agreement in accordance with this Agreement, (2) the representations and warranties of the Borrowers in the Credit Agreement and in each other Loan Document are true and correct on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case, to the knowledge of the Borrowers, they are true and correct as of such earlier date, and except to the extent of changes resulting from transactions contemplated and permitted by the Credit Agreement and changes occurring in the ordinary course of business (in each case to the extent not constituting a Default or Event of Default), 

(3) no Default or Event of Default exists and is continuing or would result from the increase in the aggregate Commitments as contemplated in this Agreement (including on a pro forma basis relative to financial covenant compliance), and (4) the incurrence of Indebtedness in an aggregate principal amount equal to the full Facility Amount after giving effect to all Commitment increases and new Commitments contemplated in this Agreement does not and will not result in a breach of, or a default under, any agreement to which any Borrower is a party.
4.In addition to any other fees due Administrative Agent or the Lenders under the Credit Agreement or the Fee Letter, Borrowers agree to pay to Issuing Lender on the date hereof an upfront fee as agreed to between Issuing Lender and Borrowers.
5.Any notice to be provided to the Issuing Lender under the Loan Documents shall be sent to the following address: BOKF, NA d/b/a Bank of Kansas City, 7500 College Blvd., Suite 1450, Overland Park, KS  66210, Attention:  William Fox, Senior Vice President.
6.This Agreement may be executed in any number of counterparts and by the various parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one contract.  Delivery of an executed counterpart of this Agreement by telecopier or .pdf shall be effective as delivery of a manually executed counterpart of this Agreement.
7.This Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of New York.
8.ENTIRE AGREEMENT.  This Agreement and the Loan Documents represent the final agreement among the parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements of the parties.  There are no unwritten oral agreements among the parties.

[remainder of page intentionally left blank]

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed by a duly authorized officer as of the date first above written.

		
	ISSUING LENDER:
	BOKF, NA d/b/a BANK OF KANSAS CITY

as Issuing Lender

By:      /s/ William Fox            
Name:     William Fox
Title:     Senior Vice President

[Signature Page to Lender Joinder Agreement]

BORROWERS:    

EPR PROPERTIES 

By:  /s/ Mark Peterson            
       Name: Mark Peterson
       Title: Senior Vice President

30 WEST PERSHING, LLC
EPT DOWNREIT II, Inc.
EPT HUNTSVILLE, INC.
MEGAPLEX FOUR, INC.
WESTCOL CENTER, LLC
EPT MELBOURNE, INC.
CROTCHED MOUNTAIN PROPERTIES, LLC
EDUCATION CAPITAL SOLUTIONS, LLC
EPR HIALEAH, INC.
EPT 909, INC.
EPT CROTCHED MOUNTAIN, INC.
EPT KALAMAZOO, INC.
EPT MAD RIVER, INC.
EPT MOUNT ATTITASH, INC.
EPT MOUNT SNOW, INC.
EPT NINETEEN, INC.
EPT SKI PROPERTIES, INC.
EPT WATERPARKS, INC.
MEGAPLEX NINE, INC.
ECS DOUGLAS I, LLC
EPT DALLAS, LLC
EPT FONTANA, LLC
EPT TWIN FALLS, LLC
FLIK, INC.
EPT GULF POINTE, INC.
EPT MESQUITE, INC.
EPT SOUTH BARRINGTON, INC.
EPT OAKVIEW, INC.
ECE I, LLC
EPT CHARLOTTE, LLC
EPT PENSACOLA, INC.
CANTERA 30 THEATRE, L.P.
TAMPA VETERANS 24, L.P.
NEW ROC ASSOCIATES, L.P.

By:    /s/ Mark Peterson            
        Name: Mark Peterson
        Title: Vice President

                        
                

[Signature Page to Lender Joinder Agreement]

Accepted and Agreed:

KEYBANK NATIONAL ASSOCIATION,
as Administrative Agent 

By:  /s/ Jane E. McGrath            
Name:  Jane E. McGrath
Title:    Vice President

[Signature Page to Lender Joinder Agreement]

Annex A to
Lender Joinder Agreement

COMMITMENT

	
		
	Issuing Lender
	Commitment

	BOKF, NA d/b/a BANK OF KANSAS CITY
	$10,000,000.00

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