Document:

Exhibit

Memorandum
Robinson, Bradshaw & Hinson, P.A.
robinsonbradshaw.com
101 N. Tryon St., Ste. 1900, Charlotte, NC 28246
704.377.2536

	
		
	TO:
	OGE Energy Corp./Oklahoma Gas and Electric Company Lenders

	FROM:
	Kader Crawford

	DATE:
	March 9, 2018

	RE:
	2018 One-Year Extension

On behalf of Wells Fargo Bank, National Association, as administrative agent, I am pleased to inform you that all documentary conditions precedent to the effectiveness of the request of OGE Energy Corp. (“OGE”) and Oklahoma Gas and Electric Company (“OG&E”) to extend the Revolving Credit Termination Date of their respective Credit Agreements for an additional one-year period have been satisfied.  The Revolving Credit Termination Date of the Credit Agreement for both OGE and OG&E is now March 8, 2023.  The executed copy of the 2018 Extension Agreement for the OGE Credit Agreement and the OG&E Credit Agreement has been posted.  

February 21, 2018

To:     OGE Energy Corp./Oklahoma Gas and Electric Company Bank
Group

From:     Wells Fargo Bank, National Association, as Administrative Agent

Re:     (i) OGE Energy Corp. (“OGE”) $450 Million Credit Agreement dated as of March 8, 2017
(the “OGE Credit Agreement”) and (ii) Oklahoma Gas and Electric Company (“OG&E”)
$450 Million Credit Agreement dated as of March 8, 2017 (the “OG&E Credit Agreement”
and together with the OGE Credit Agreement, the “Credit Agreements”)

Reference is hereby made to the Credit Agreements described above. Capitalized terms used herein without definition shall have the meanings ascribed to such terms in the Credit Agreements.

Pursuant to Section 2.21 of the OGE Credit Agreement, OGE has requested that the Revolving Credit Termination Date be extended for an additional one year until March 8, 2023. OGE has agreed to pay each Lender approving the extension a fee equal to 0.06% of such Lender’s Commitment; provided that such fee shall only be payable if and when the extension of the Revolving Credit Termination Date until March 8, 2023 becomes effective.

Pursuant to Section 2.21 of the OG&E Credit Agreement, OG&E has requested that the Revolving Credit Termination Date be extended for an additional one year until March 8, 2023. OG&E has agreed to pay each Lender approving the extension a fee equal to 0.06% of such Lender’s Commitment; provided that such fee shall only be payable if and when the extension of the Revolving Credit Termination Date until March 8, 2023 becomes effective.

Please insert your institution’s name and indicate on the following page whether you consent to the requested extension of the Revolving Credit Termination Date for each of the OGE Credit Agreement and the OG&E Credit Agreement until March 8, 2023, and email a PDF copy of this letter to Kader Crawford at Robinson, Bradshaw & Hinson, P.A. (kcrawford@robinsonbradshaw.com). 

Your response is requested prior to 3:00 p.m. (ET) on March 7, 2018.

Please contact Chase Alexander (phone: 704.410.4692; email: Chase.alexander@wellsfargo.com) if you have any questions.

Thank you for your attention to this matter.

Wells Fargo Bank, National Association hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ Patrick Engel

	Name:
	Patrick Engel

	Title:
	Managing Director

	Date:
	March 2, 2018

JPMorgan Chase Bank, N.A. hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ Justin Martin

	Name:
	Justin Martin

	Title:
	Authorized Officer

	Date:
	March 7, 2018

MIZUHO BANK, LTD., hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ Nelson Y. Chang

	Name:
	Nelson Y. Chang

	Title:
	Authorized Signatory

	Date:
	March 2, 2018

MUFG Union Bank, N.A. hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ Cherese Joseph

	Name:
	Cherese Joseph

	Title:
	Vice President

	Date:
	March 7th, 2018

ROYAL BANK OF CANADA hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ Rahul D. Shah

	Name:
	Rahul D. Shah

	Title:
	Authorized Signatory

	Date:
	March 2, 2018

U.S. BANK NATIONAL ASSOCIATION hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ James O'Shaughnessy

	Name:
	James O'Shaughnessy

	Title:
	Vice President

	Date:
	March 5, 2018

CoBank, ACB hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ C. Brock Taylor

	Name:
	C. Brock Taylor

	Title:
	Vice President

	Date:
	March 5, 2018

KeyBank National Association hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ Benjamin C. Cooper

	Name:
	Benjamin C. Cooper

	Title:
	Vice President

	Date:
	March 6, 2018

MORGAN STANLEY BANK, N.A. hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ Michael King

	Name:
	Michael King

	Title:
	Authorized Signatory

	Date:
	March 7th, 2018

BOKF, N.A. dba Bank of Oklahoma hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ J. Richard Hawk

	Name:
	J. Richard Hawk

	Title:
	Sr. Vice President

	Date:
	March 7, 2018

National Cooperative Services Corporation (NCSC) hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ Ann Shankroff

	Name:
	Ann Shankroff

	Title:
	Assistant Secretary Treasurer

	Date:
	March 8, 2018

BancFirst hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ Matt Crew

	Name:
	Matt Crew

	Title:
	Senior Vice President

	Date:
	March 8, 2018

Bank of Communications Co., Ltd., New York Branch hereby (select one):
Lender Name

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OGE Credit Agreement to March 8, 2023.

___X___CONSENTS to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

_______DOES NOT consent to the extension of the Revolving Credit Termination Date under the OG&E Credit Agreement to March 8, 2023.

	
		
	By:
	/s/ Kerong Niu

	Name:
	Kerong Niu

	Title:
	General Manager

	Date:
	March 6, 2018psb-20180331 Q1 Exhibit 101 v2

		

			Exhibit 10.1

		

		
			PS BUSINESS PARKS, L.P.
		

		
			AMENDMENT TO AMENDED AGREEMENT OF LIMITED
PARTNERSHIP TO AUTHORIZE SPECIAL ALLOCATIONS
		

		
			﻿
		

		
			This Amendment to the Amended Agreement of Limited Partnership of PS Business Parks, L.P., a California limited partnership (the “Partnership”), dated as of January 1, 2017, amends the Agreement of Limited Partnership of the Partnership dated as of March 17, 1998, as previously amended, by and among PS Business Parks, Inc. (the “General Partner”) and all of the Limited Partners, who are described in  the attached Exhibit A (the  “Partnership Agreement”).
		

		
			The Partners wish to amend the Partnership Agreement to allow for special allocations as set forth below, and accordingly, amend the Partnership Agreement, effective as of the date of this amendment, as follows:
		

		
			Section 1.  Definitions.  Capitalized terms not otherwise defined in this amendment shall have the meanings given to them in the Partnership Agreement.
		

		
			Section 2.  Allocations.  Section 6.1 of the Partnership Agreement concerning allocation of profit and loss is amended to add at the end of that subsection a new clause Section 6.1(i) to read, in its entirety, as follows:
		

		
			“(i)Special Allocations.  Notwithstanding anything to the contrary in this Agreement, the General Partner shall have the authority to specially allocate items of Partnership income, expense, gain or loss to the Partners provided that the special allocations are agreed to by all Partners.”
		

		
			Section 3.  No Other Changes.  Except as otherwise set forth above, the Partnership Agreement continues in full force and effect.
		

			
					
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						GENERAL PARTNER

					
					
						LIMITED PARTNERS

				
	
					
						PS Business Parks, Inc.

					
					
						PS Business Parks, Inc.

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						By: /s/ Maria R. Hawthorne

					
					
						By: /s/ Maria R. Hawthorne

				
	
					
						Name: Maria R. Hawthorne

					
					
						Name: Maria R. Hawthorne

				
	
					
						Title: President and CEO

					
					
						Title: President and CEO

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						Public Storage

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						By: /s/ Lily Yan Hughes

				
	
					
						﻿

					
					
						Name: Lily Yan Hughes

				
	
					
						﻿

					
					
						Title: Senior Vice President,

				
	
					
						﻿

					
					
						Chief Legal Officer and

				
	
					
						﻿

					
					
						Corporate Secretary

				

		
			 
		

		

		

		 

 

		Exhibit A
		

			
					
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						Partner/Capacity

					
					
						No. of Units

					
					
						Percentage Interest

				
	
					
						General Partner (common units):

					
					
						 

					
					
						 

				
	
					
						PS Business Parks, Inc.

					80,180 
					0.242% 
				
	
					
						Limited Partners (common units):

					
					
						 

					
					
						 

				
	
					
						PS Business Parks, Inc.

					25,695,998 
					77.675% 
				
	
					
						Public Storage

					7,305,355 
					22.083% 
				
	
					
						Limited Partner (preferred units):

					
					
						 

					
					
						 

				
	
					
						PS Business Parks, Inc.

					
					
						all outstanding preferred units

					
					
						n/a

				

		
			﻿

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