Document:

Exhibit
10.1

 

AMENDMENT NO. 4
TO SIXTH AMENDED AND RESTATED CREDIT AGREEMENT

 

AMENDMENT NO. 4 TO SIXTH AMENDED
AND RESTATED CREDIT AGREEMENT (this “Agreement”), dated as of October 26, 2021, relating to the Sixth Amended and Restated
Credit Agreement, dated as of October 31, 2019, as amended by that certain Amendment No. 1 to Sixth Amended and Restated Credit Agreement,
dated as of April 23, 2020, as further amended by that certain Amendment No. 2 to Sixth Amended and Restated Credit Agreement, dated as
of December 22, 2020, and as further amended by that certain Amendment No. 3 to Sixth Amended and Restated Credit Agreement, dated as
of May 5, 2021 (together, and as otherwise amended, restated, modified, or supplemented prior to the date hereof, the “Existing
Credit Agreement”), by and among RHP HOTEL PROPERTIES, LP, a Delaware limited partnership (together with any permitted successors
and assigns, the “Borrower”), RYMAN HOSPITALITY PROPERTIES, INC., a Delaware corporation (the “Parent”),
the GUARANTORS from time to time party thereto (as defined in the Existing Credit Agreement) (collectively, the “Guarantors”),
the PLEDGORS from time to time party to the Pledge Agreement (as defined in the Existing Credit Agreement) (collectively, the “Pledgors”),
the LENDERS from time to time party thereto (collectively, the “Lenders”), and WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Administrative Agent (in such capacity, collectively with its successors and assigns, the “Administrative Agent”).

 

RECITALS

 

WHEREAS, the Parent and its
Subsidiaries desire the ability to acquire certain new Investments, and, in connection therewith, to finance such new Investments with
proceeds from, among other things, the proceeds of new Equity Issuances which, pursuant to the Existing Credit Agreement, requires the
consent of the Required Lenders (defined below) during the Restricted Period.

 

In furtherance of the above,
the Borrower, the Parent, and the other Loan Parties have requested, and the Administrative Agent and the Required Lenders (as defined
below) have agreed, to modify certain provisions of the Existing Credit Agreement to, among other things, authorize Borrower or any Consolidated
Party to: (i) during the Restricted Period, enter into a single new Investment constituting an acquisition of real property and related
assets (and/or the equity interests in one or more entities which owns all or any portion of such real property or related assets) relating
to the type of businesses which are not prohibited by Section 8.07; (ii) utilize all or a portion of the proceeds of an Equity
Issuance, in part, to finance such new Investment; and (iii) assume certain non-recourse Indebtedness in connection with such Investment,
in each case upon the terms more particular set forth herein.

 

WHEREAS, pursuant to Section 11.01
of the Existing Credit Agreement, the Parent, the Borrower, the other Loan Parties, the Pledgors, the Administrative Agent and the Lenders
party hereto (representing the Required Lenders required pursuant to Section 11.01 of the Existing Credit Agreement) (collectively,
the “Required Lenders”), agree to amend the Existing Credit Agreement on the terms set forth herein.

 

NOW, THEREFORE, in
consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which
are hereby acknowledged, the parties hereto hereby agree as follows:

 

SECTION
1.          Defined
Terms. Each capitalized term used but not otherwise defined herein shall have the meaning given to such term in the Existing Credit
Agreement. The rules of interpretation set forth in Section 1.02 of the Existing Credit Agreement are hereby incorporated
by reference herein, mutatis mutandis. Each reference to “hereof”, “hereunder”, “herein” and
 “hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference
contained in the Existing Credit Agreement shall, after this Agreement becomes effective, refer to the Existing Credit Agreement as amended
hereby. For clarity, unless otherwise expressly limited to the Restricted Period each amendment set forth herein shall apply for the
entire term of the Facilities.

 

     

     

    

 

SECTION
2.               Amendments
to the Credit Agreement. The Existing Credit Agreement is, effective as of the Amendment No. 4 Effective Date (as defined below),
hereby amended as follows (the Existing Credit Agreement, as so amended, the “Fourth Amended Credit Agreement”):

 

(a)                Section 1.01 of the Existing Credit Agreement is hereby amended by adding the following definitions, in each case,
in the appropriate alphabetical order, as follows:

 

“Amendment
No. 4” means that certain Amendment No. 4 to Sixth Amended and Restated Credit Agreement, dated as of October 26, 2021, by and
among the Borrower, the Parent, the Guarantors, the Pledgors, the Administrative Agent, and certain Lenders party thereto.

 

“Amendment
No. 4 Effective Date” means October 26, 2021.

 

“Special Permitted
Acquisition” means, during the Restricted Period, a single Investment constituting an acquisition of real property and related
assets (and/or the equity interests in one or more entities which owns all or any portion of such real property or related assets) relating
to the type of businesses which are not prohibited by Section 8.07.

 

(b)               
Section 2.05(b)(x) of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:

 

“(x)       Notwithstanding
anything to the contrary herein, during the Restricted Period the Borrower shall deposit or cause to be deposited with the Administrative
Agent one hundred present (100%) of all Net Cash Proceeds, other than Net Cash Proceeds received in connection with:

 

(i)        an
Involuntary Disposition, to the extent such Net Cash Proceeds are used for restoration of the applicable Property, which in the case of
a Borrowing Base Property, shall continue to be governed by the terms of the Loan Documents (including, Section 2.05(b)(iv));

 

(ii)       Dispositions
(but specifically excluding Dispositions of (1) Borrowing Base Properties and (2) other hotel real property assets, including, without
limitation, the Gaylord Rockies Resort & Convention Center) which result in Net Cash Proceeds, in the aggregate, of no more than Three
Hundred Million Dollars ($300,000,000);

 

(iii)      Indebtedness
incurred under Section 8.03(a) (provided that the Borrower complies with Section 5 of Amendment No. 2),
Section 8.03(b), Section 8.03(c), Section 8.03(e), and Section 8.03(g)); and

 

(iv)      any
Equity Issuance made in accordance with Section 2.05(b)(xi);

 

and the
Administrative Agent shall apply such Net Cash Proceeds to the outstanding principal amount of the Loans pro rata based on the then
outstanding principal amount of each Facility. Notwithstanding the foregoing, if any Net Cash Proceeds are received pursuant to an
Excluded Stimulus Transaction, at the Borrower’s election, the Borrower may use such Net Cash Proceeds for any use permitted
by such Excluded Stimulus Transaction, instead of delivering to the Administrative Agent as provided above.”

 

    Page 2

     

    

 

(c)               
A new Section 2.05(b)(xi) is hereby added to the Existing Credit Agreement as follows:

 

“(xi)       Notwithstanding
anything to the contrary herein, during the Restricted Period if the Borrower or any Consolidated Party shall issue or cause to be issued
any Equity Issuance, Borrower shall apply, or cause to be applied, one hundred percent (100%) of all Net Cash Proceeds of such Equity
Issuance as follows:

 

(A)      if
the Outstanding Amount of all Revolving Loans is in excess of Four Hundred Million Dollars $400,000,000, not later than one (1) Business
Day following receipt of such Net Cash Proceeds, such Net Cash Proceeds shall be used to pay down the Revolving Loans such that the Outstanding
Amount of all Revolving Loans is equal to Four Hundred Million Dollars ($400,000,000), with the remainder to be applied in accordance
with clause (B) below;

 

(B)       if
the Outstanding Amount of all Revolving Loans is equal to or less than Four Hundred Million Dollars, such Net Cash Proceeds shall be applied
either: (1) to pay for the Special Permitted Acquisition (provided, that the Special Permitted Acquisition shall be made no later than
one hundred twenty (120) days following the date of such Equity Issuance (the “Acquisition Outside Date”) or such Net
Cash Proceeds shall be applied in accordance with clause (C) below), with the remainder to be applied in accordance with clause (C) below,
or (2) in accordance with clause (C) below;

 

(C)       all
Net Cash Proceeds from such Equity Issuance not otherwise applied to the Outstanding Amount of all Revolving Loans in accordance with
clause (A) above, or to pay for the Special Permitted Acquisition prior to the Acquisition Outside Date in accordance with clause (B)
above, shall be applied to the Outstanding Amount of all Revolving Loans until the Outstanding Amount of all Revolving Loans has been
reduced to Zero Dollars ($0), with any remaining Net Cash Proceeds to be held on Borrower’s balance sheet as unrestricted cash and
Cash Equivalents acceptable to Administrative Agent and which may be used by Borrower solely for the purposes permitted under the Fourth
Amended Credit Agreement for so long as the Restricted Period is continuing.

 

For purposes of clarity,
all amounts applied to the Outstanding Amount of the Revolving Loans pursuant to this Section 2.05(b)(xi) shall not permanently
reduce the Revolving Commitment, but may be re-Borrowed in accordance with the terms and provisions of this Agreement.” 

 

(d)               
Section 8.22 of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:

 

“8.22.          Restricted
Period. Notwithstanding anything to the contrary contained herein, so long as the Restricted Period is continuing:

 

(a)       Incur
any additional Indebtedness, other than (i) any unsecured Indebtedness incurred in connection an Excluded Stimulus Transaction, (ii)
non-recourse Indebtedness (other than non-recourse carve-outs which are customary in a non-recourse “CMBS” loan
facility) assumed in connection with the Special Permitted Acquisition, not to exceed One Hundred Fifty Million Dollars
($150,000,000) in the aggregate and provided that such Indebtedness is scheduled to mature after the Closing Date Term Loan Maturity
Date), and (iii) as permitted by Section 8.03(a) (provided that the Borrower complies with Section 5
of Amendment No. 2), Section 8.03(c) (but only to the extent all of the parties to any such intercompany Indebtedness
and Guarantees are Consolidated Parties), and Section 8.03(g);

 

    Page 3

     

    

 

(b)       Acquire
any Properties or make new Investments, other than (i) Investments in Subsidiaries and other Loan Parties, (ii) the Special Permitted
Acquisition made with (A) the proceeds of any Equity Issuance pursuant to Section 2.05(b)(xi), (B) the proceeds of any Indebtedness
permitted pursuant to Section 8.22(a)(ii) above, and/or (C) the proceeds of a Revolving Loan, so long as after giving effect
to the Borrowing of such Revolving Loan, the Outstanding Amount of all Revolving Loans shall be equal to or less than $400,000,000, (iii)
Investments in existing Unconsolidated Affiliates that are required to be made pursuant to such entities’ organizational documents
and are made in accordance with Section 8.02(f), and (iv) as permitted by Section 8.02(a), Section 8.02(c),
and Section 8.02(e);

 

(c)       Make
any Restricted Payments including, without limitation, cash dividends on its Capital Stock, provided that (i) the Borrower shall
be permitted to make Restricted Payments in cash to the Parent to permit the Parent to make Restricted Payments in cash to the holders
of its Capital Stock following the end of its fiscal year to the extent necessary to maintain its status as a REIT, (ii) the Parent shall
be permitted to make Restricted Payments of not more than $0.01 per share in cash to the holders of its Capital Stock following the end
of each fiscal quarter; (iii) Subsidiaries of the Borrower shall be permitted to make Restricted Payments in connection with the purchase
of the minority interests in any existing Subsidiary not to exceed, in the aggregate, $200,000,000 (provided, however, that for purposes
of clarity, as of the Amendment No. 4 Effective Date, Subsidiaries of the Borrower have previously made all Restricted Payments permitted
under this clause (iii)), and (iv) the Loan Parties and their Subsidiaries shall be permitted to make other Restricted Payments as permitted
by Section 8.06(a) and Section 8.06(b);

 

(d)       Make
any capital expenditures at the Properties except for: (i) the currently ongoing expansion project at the Gaylord Palms approved by the
Administrative Agent prior to the Amendment No. 2 Effective Date not to exceed $80,000,000 in the aggregate; (ii) capital expenditures
incurred in connection with emergency repairs,  life safety repairs or ordinary course maintenance repairs; and (iii) discretionary
capital expenditures not to exceed Ninety-Five Million Dollars ($95,000,000) in the aggregate (inclusive of all discretionary capital
expenditure costs incurred for the period commencing on April 23, 2020 through and including the Amendment No. 4 Effective Date) (provided,
that Borrower shall be permitted to use any FF&E reserve maintained under, and to the extent permitted by, the Management Agreements
for the capital expenditures described in, and subject to the limitations set forth in, the foregoing clauses (ii) and (iii),
provided, further, that any use of an FF&E reserve in accordance with the applicable Management Agreement (and for the
purposes expressly set forth in the applicable Management Agreement in effect as of the date hereof) shall not count against such $95,000,000
limitation for discretionary capital expenditures)); and

 

(e)       Take
any action that would be prohibited during a Default or Event of Default (other than (x) a Credit Extension or a Request for Credit
Extension, including requesting a Eurodollar Loan or converting or continuing a Eurodollar Loan of any Interest Period otherwise
permitted hereunder, (y) requesting use of insurance and condemnation proceeds as provided in Section 7.07 and (z) in
connection with the issuance of the New Notes), including, without limitation (i) certain mergers, liquidations and Guarantor
releases which would otherwise be permitted, and (ii) certain transfers which would otherwise be permitted (including, without
limitation, any Disposition).”

 

    Page 4

     

    

 

SECTION
3.               Conditions
to the Close. This Agreement shall become effective as of the first date (the “Amendment No. 4 Effective Date”)
when each of the following conditions shall have been satisfied or waived in writing by the Administrative Agent:

 

(a)                Representations
and Warranties. The representations and warranties of the Borrower and each other Loan Party contained in Article VI of the
Existing Credit Agreement or any other Loan Document, or which are contained in any document furnished at any time under or in connection
herewith or therewith, shall be true and correct in all material respects (except that any representation and warranty that is qualified
by materiality shall be true and correct in all respects) on and as of the Amendment No. 4 Effective Date, except to the extent that
such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier
date, and except that for purposes of this Agreement, the representations and warranties contained in subsections (a) and (b) of Section 6.05
of the Existing Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b),
respectively, of Section 7.01.

 

(b)               
No Default. Neither a Default nor Event of Default shall exist, or would result from, the effectiveness of this Agreement.

 

(c)               
This Agreement. The Administrative Agent shall have received executed counterparts hereof that, when taken together, bear
the signatures of the Borrower, the Parent, the other Loan Parties, the Required Lenders and the Administrative Agent.

 

(d)                Fees
and Expenses. The Borrower shall have paid all reasonable fees, charges and disbursements of counsel of the Administrative Agent
to the extent invoiced prior to or on the Amendment No. 4 Effective Date, plus such additional amounts of such fees, charges and
disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through
the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower
and the Administrative Agent).

 

(e)                Other
Deliverables. The Borrower shall have provided to the Administrative Agent, and the Administrative Agent shall have approved, all
other materials, documents and submissions requested by the Administrative Agent in connection with the transactions contemplated by
this Agreement.

 

SECTION
4.               Reaffirmation. By
signing this Agreement, each Loan Party hereby confirms that this Agreement shall not effect a novation of any of the obligations of
the Loan Parties under the Existing Credit Agreement, which obligations continue in full force and effect as set forth in the Fourth
Amended Credit Agreement, and each Loan Party and each Pledgor acknowledges and confirms that the obligations of the Loan Parties
under the Existing Credit Agreement as modified or supplemented hereby and the Loan Parties and the Pledgors under the other Loan
Documents (i) are entitled to the benefits of the guarantees, pledge of and/or grant of the security interests set forth or created
in the Collateral Documents and the other Loan Documents, (ii) constitute “Obligations” and “Secured
Obligations” or other similar term for purposes of the Fourth Amended Credit Agreement, the Collateral Documents and all other
Loan Documents, (iii) notwithstanding the effectiveness of the terms hereof, the Collateral Documents and the other Loan
Documents are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects. Each Loan
Party and each Pledgor hereby ratifies and confirms that all Liens granted, conveyed, or assigned to the Administrative Agent by
such Person pursuant to any Loan Document to which it is a party remain in full force and effect, are not released or reduced, and
continue to secure full payment and performance of the Obligations as increased hereby.

 

    Page 5

     

    

 

SECTION
5.                Applicable
Law; Jurisdiction; Venue.

 

(a)               
GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

 

(b)                SUBMISSION
TO JURISDICTION. THE BORROWER, EACH PLEDGOR AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS
PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES
DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT
OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES
HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED
IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO
AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT
ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT
THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE JOINT LEAD ARRANGERS MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO
THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER, ANY PLEDGOR OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF
ANY JURISDICTION.

 

(c)                WAIVER
OF VENUE. THE BORROWER, EACH PLEDGOR AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (b) OF THIS SECTION. EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO
THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

 

(d)               WAIVER
OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

    Page 6

     

    

 

SECTION
6.               Credit
Agreement Governs. Except as expressly set forth herein, this Agreement shall not by implication or otherwise limit, impair, constitute
a waiver of or otherwise affect the rights and remedies of any Lender or the Administrative Agent under the Existing Credit Agreement
or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants
or agreements contained in the Existing Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects
and shall continue in full force and effect. Nothing herein shall be deemed to entitle any Loan Party to a consent to, or a waiver, amendment,
modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Fourth Amended Credit
Agreement or any other Loan Document in similar or different circumstances.

 

SECTION
7.               Counterparts.
This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which
when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same
instrument. Delivery of any executed counterpart of a signature page of this Agreement by facsimile or electronic transmission shall
be as effective as delivery of a manually executed counterpart hereof.

 

SECTION
8.               Severability.
If any provision or obligation under this Agreement shall be determined by a court of competent jurisdiction to be invalid, illegal or
unenforceable, that provision shall be deemed severed from this Agreement and the validity, legality and enforceability of the remaining
provisions or obligations shall remain in full force as though the invalid, illegal, or unenforceable provision had never been a part
of this Agreement.

 

SECTION
9.               Electronic
Signatures. This Agreement may be executed in one or more counterparts, each of which shall constitute an original and all of
which when taken together shall constitute one agreement.  The words “execution,” signed,”
 “signature,” and words of like import in this Agreement shall include images of manually executed signatures transmitted
by facsimile or other electronic format (including, without limitation, “pdf”, “tif” or “jpg”)
and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and
electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or
stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use
of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic
Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable
law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial
Code.  Each party hereto hereby waives any defenses to the enforcement of the terms of this Agreement based on the form of its
signature, and hereby agrees that such electronically transmitted or signed signatures shall be conclusive proof, admissible in
judicial proceedings, of such party’s execution of this Agreement. Even though the parties agree that electronic signatures
are legally enforceable and intended to be effective for all purposes, the signing parties agree if requested by the Administrative
Agent in its sole discretion to promptly deliver to the Administrative Agent the requested original document bearing an original
manual signature, to the extent required or advisable to be delivered in connection with any program made available to the
Administrative Agent or any of its affiliates by the Federal Reserve, U.S. Treasury Department or any other federal or state
regulatory body.

 

[Signatures Appear on Following
Page]

 

    Page 7

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed and delivered as of the date first above written.

 

“BORROWER AND PLEDGOR”

 

	RHP HOTEL PROPERTIES, LP,	 
	a Delaware limited partnership	 
	 	 
	By:	RHP Partner, LLC,	 
	 	a Delaware limited liability company,	 
	 	its general partner	 

 

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

 

[Signatures Continue on Following Page]

 

Signature Page to Amendment
No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

 

	“GUARANTORS
    AND PLEDGORS”	 	 
	 	 	 
	RYMAN
    HOSPITALITY PROPERTIES, INC.,	 	RHP PARTNER, LLC, 
	a
    Delaware corporation	 	a Delaware limited liability company 
	 	 	 

	By:	/s/
    Mark Fioravanti	 	By:	/s/ Mark Fioravanti 
	Name:	Mark
    Fioravanti	 	Name:	Mark Fioravanti 
	Title:	Executive
    Vice President;	 	Title:	Vice President  
	 	Chief
    Financial Officer	 	 

 

	RHP
    PROPERTY GP, LP,	 	RHP PROPERTY GT, LP, 
	a
    Florida limited partnership	 	a Delaware limited partnership 
	 	 	 
	By:	Opryland
    Hospitality, LLC,	 	By:	 Opryland Hospitality, LLC, 
	 	a
    Tennessee limited liability company	 	 	a Tennessee limited liability company 
	 	its
    general partner	 	 	its general partner 
	 	 	 

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

	 	 	 
	RHP
    HOTELS, LLC,	 	RHP PROPERTY GT, LLC, 
	a
    Delaware limited liability company	 	a Delaware limited liability company 
	 	 	 

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

	 	 	 
	OPRYLAND
    HOSPITALITY, LLC	 	RHP PROPERTY NH, LLC 
	a
    Tennessee limited liability company	 	a Maryland limited liability company 

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

[Signatures
Continue on Following Page]

 

Signature
Page to Amendment No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

	“ADMINISTRATIVE
    AGENT AND LENDERS”	 
	 	 
	WELLS
    FARGO BANK, NATIONAL ASSOCIATION,	 
	in
    its capacity as Lender and as Administrative Agent	 

	 	 
	By:	/s/ Anand. J. Jobanputra	 
	Name:	Anand. J. Jobanputra	 
	Title:	Managing Director	 

 

[Signatures
Continue on Following Page]

 

Signature
Page to Amendment No. 4 to Sixth Amended and Restated Credit Agreement 

 

     

     

    

 

	DEUTSCHE
    BANK AG NEW YORK BRANCH,	 
	in
    its capacity as Lender	 

	 	 
	By:	/s/ Murray Mackinnon	 
	Name:	Murray Mackinnon	 
	Title:	Director	 

	 	 
	By:	/s/ Darrell L. Gustafson	 
	Name:	Darrell L. Gustafson	 
	Title:	Managing Director	 

 

[Signatures Continue on Following Page]

 

Signature
Page to Amendment No. 4 to Sixth Amended and Restated Credit Agreement 

 

     

     

    

 

	BANK
    OF AMERICA, N.A.,	 
	in
    its capacity as Lender	 

 

	By:	/s/ Roger C. Davis	 
	Name:	Roger C. Davis	 
	Title:	Senior Vice President	 

 

[Signatures Continue on Following Page]

 

Signature
Page to Amendment No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

	JP
    MORGAN CHASE BANK, N.A.,	 
	in
    its capacity as Lender	 
	 	 

	By:	/s/ Cody A. Canafax	 
	Name:	Cody A. Canafax	 
	Title:	Vice President	 

 

[Signatures Continue on Following Page]

 

Signature
Page to Amendment No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

	U.S.
    BANK NATIONAL ASSOCIATION,	 
	in
    its capacity as Lender	 
	 	 

	By:	/s/ Lori Y. Jensen	 
	Name:	Lori Y. Jensen	 
	Title:	Senior Vice President	 

 

[Signatures Continue on Following Page]

 

Signature
Page to Amendment No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

 

 

	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,	 
	in its capacity as Lender	 
	 	 	 
	By:	/s/ Steven Jonassen	 
	Name:	Steven Jonassen	 
	Title:	Managing Director	 
	 	 	 
	By:	/s/ Adam Jenner	 
	Name:	Adam Jenner	 
	Title:	Director	 

 

[Signatures Continue on Following Page]

 

Signature Page to Amendment
No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

	THE BANK OF NOVA SCOTIA,	 
	in its capacity as Lender	 
	 	 	 
	By:	/s/ Ajit Goswami	 
	Name:	Ajit Goswami	 
	Title:	Managing Director & Industry Head	 
	 	U.S. Real Estate, Gaming & Leisure	 

 

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Signature Page to Amendment
No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

	CAPITAL ONE, N.A.,	 
	in its capacity as Lender	 
	 	 	 
	By:	/s/ Jessica W. Phillips	 
	Name:	Jessica W. Phillips	 
	Title:	Authorized Signatory	 

 

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Signature Page to Amendment
No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

	MIDFIRST BANK,	 
	a federally chartered savings association,	 
	in its capacity as Lender	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

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Signature Page to Amendment
No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

	RAYMOND JAMES BANK, N.A.,	 
	in its capacity as Lender	 
	 	 	 
	By:	/s/ Matt Stein	 
	Name:	Matt Stein	 
	Title:	SVP	 

 

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Signature Page to Amendment
No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

	TD BANK, N.A.,	 
	in its capacity as Lender	 
	 	 	 
	By:	/s/ Jessica Trombly	 
	Name:	Jessica Trombly	 
	Title:	Vice President	 

 

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Signature Page to Amendment
No. 4 to Sixth Amended and Restated Credit Agreement

 

     

     

    

 

	SUMITOMO MITSUI BANKING CORPORATION,	 
	in its capacity as Lender	 
	 	 	 
	By:	/s/ Eugene Nirenberg	 
	Name:	Eugene Nirenberg	 
	Title:	Executive Director	 

 

Signature Page to Amendment
No. 4 to Sixth Amended and Restated Credit Agreementgipr-ex101_6.htm

Exhibit 10.1

October 26, 2021

 

Generation Income Properties, Inc.

Attention: David Sobelman

401 E. Jackson Street, Suite 3300

Tampa, Florida 33602

 

	
 
	
RE:
	
COMMITMENT FOR $25,000,000.00 MASTER CREDIT FACILITY 

Dear Mr. Sobelman:

 

American Momentum Bank (hereinafter referred to as “Bank”) is pleased to offer its commitment to make a master credit facility available to Generation Income Properties, L.P., a Delaware Limited Partnership (“GIP”) in the amount of $25,000,000.00 (the “Facility”).  The Facility shall be utilized to fund the acquisition of income producing real estate properties (each a “Loan” and collectively the “Loans”).  

This letter does not set forth all the terms and conditions of the Facility offered herein.  Rather, it is only an outline, in summary format, of the major points of understanding which shall be the basis of the final loan documentation (all of which are collectively referred to as the “Loan Documents”), most of which are described below.  The date upon which each Loan is consummated and the last of the Loan Documents for each Loan is executed and delivered is hereinafter referred to as a “Closing Date.”  The Loan Documents will have various terms and conditions not set forth herein, including but not limited to conditions precedent, representations and warranties, affirmative covenants, negative covenants, events of default, definition of terms, and other provisions customary to financing (1) by Bank generally and (2) of the type contemplated by this letter.

Purpose.  Proceeds of the Facility shall be used to fund the acquisition of income producing real estate properties (each a “Property” and collectively, the “Properties”).  Each Property will be owned or ground leased by a single purpose entity, formed by GIP for the sole purpose of taking title to the Property and entering into the Loan with Bank (each a “Borrower” and collectively, the “Borrowers”).  Each Borrower shall be a subsidiary of, and controlled by, the Entity Guarantor (as defined herein).  Entity Guarantor, by its joinder of this Letter, hereby certifies that all Loan proceeds will be used by each respective Borrower for private commercial purposes, as described herein.

Facility Term.  All Loans shall be closed within two (2) years after the Closing Date of the first Loan closed under the Facility.  

Interest Rate. Interest on each Loan shall accrue at a variable rate equal to the Wall Street Journal Prime (the “Applicable Rate”), adjusted monthly on the first day of each Interest Period; provided, however, each Loan will include an interest rate floor of 3.25% per annum. All interest will be computed and charged for the actual number of days elapsed on the basis of a year consisting of three hundred sixty (360) days.  Interest on all past due amounts or during the occurrence of an event of default under the Loan shall accrue at the maximum rate permitted by law.

Fees/Costs. At each Loan closing, the applicable Borrower shall make payment of a commitment fee equal to 0.50% of the applicable Loan amount.  In addition, the applicable Borrower shall pay all legal fees, recording fees, excise taxes, title insurance premiums, appraisal fees, and other costs incurred by Bank in connection with the making, documenting and closing of each Loan.

 

 

 

Repayment Terms. Each Loan will have an interest-only payment term of twenty-four (24) months from the applicable Loan Closing Date.  For each Loan, outstanding principal and accrued outstanding interest shall be due and payable in full on the date that is two (2) years from the applicable Closing Date.

Prepayment Premium.  None

Collateral. To secure payment of each Loan, each Borrower shall grant, pledge, or convey to Bank the following collateral customary for the type of loan, including but not limited to the following:  

	
 
	
1.
	
A first priority mortgage and security interest (or deed of trust, as applicable) on the applicable Property.

	
 
	
2.
	
A first priority assignment of leases, rents and profits with respect to the applicable Property. 

	
 
	
3.
	
A first priority assignment of all contracts, agreements, plans, specifications, deposits, rights, profits, operating accounts and related agreements for the applicable Property.

	
 
	
4.
	
A collateral assignment and subordination of any applicable management agreement for each Property.

Guarantees. Each Loan shall be guaranteed by Generation Income Properties, LP a Delaware limited partnership (“Entity Guarantor”) and David Sobelman (the “Individual Guarantor” and together with the Entity Guarantor, collectively the “Guarantors”).  The guaranty provided by the Entity Guarantor shall be unlimited.  The guaranty provided by the Individual Guarantor shall be non-recourse, subject to customary bad-boy carve-outs, to be negotiated during the closing of the initial Loan under the Facility.

Deposit Account(s).  Each Borrower agrees to establish and maintain its primary operating account(s) with Bank as long as any part of the applicable Loan remains outstanding.

Conditions Precedent to each Loan.  For each Loan, the following conditions precedent must be satisfied by the applicable Borrower prior to the respective Closing Date:

	
 
	
(a)
	
Bank must obtain a “Phase I” environmental assessment of each Property, ordered by each Borrower at such Borrower’s expense from an environmental engineering company acceptable to Bank, assessing the environmental condition of the applicable Property.  Bank shall have the right to require additional environmental investigations, including a “Phase II” environmental assessment, which additional work shall constitute a part of the environmental assessment.  Bank shall have the right to withdraw its commitment to fund any applicable Loan in the event that the environmental assessment discloses significant environmental concerns associated with a certain Property, as determined by Bank in its sole discretion.  

	
 
	
(b)
	
Bank shall have received and approved a certified appraisal (the “Appraisal”) obtained by Bank and paid for by each Borrower with respect to each Property, demonstrating a “loan to value” ratio of not greater than fifty percent (50%) and a “loan to cost” ratio of not greater than fifty percent (50%).

	
 
	
(c)
	
Each Borrower shall deliver to Bank for its review and approval, a commitment (the “Title Commitment”) for each Property from a title company (the “Title Company”) acceptable to Bank agreeing to provide to Bank a title insurance policy in form acceptable to Bank in the amount of each Loan, and any additional required title endorsements. Each Borrower shall be 

 

 

 

	
 
		
responsible for all costs incurred in obtaining each Title Commitment, policy, and any required title endorsements.  

	
 
	
(d)
	
Each Borrower shall, at Borrower’s sole cost and expense, deliver to Bank for its review and approval, a current survey for each Property which complies with Bank’s survey requirements.

	
 
	
(e)
	
Each Borrower shall deliver to Bank for its review and approval, a lease for each Property (each a “Lease” and collectively the “Leases”).  Each Lease shall have a minimum remaining initial term of five (5) years after the applicable Closing Date.  To be an acceptable Lease, the tenant must be an Acceptable Tenant.  For purposes of each Loan, an “Acceptable Tenant” shall mean a tenant that has an Investment Grade Rating of BBB- or better if rated by Standard & Poor’s or Baa3, or better if rated by Moody’s.  In the event the proposed tenant is not deemed an Acceptable Tenant, then the tenant must (i) evidence a minimum of $100,000,000.00 in Tangible Net Worth; (ii) evidence a Maximum Debt to Equity of 3.0; and (iii) such tenant shall be subject to approval from the Bank’s Chief Credit Officer and Chief Lending Officer (each in their sole discretion).  Further, at any given time during the term of the Facility, the maximum amount of Loans outstanding for Properties with Leases to tenants that are not an Acceptable Tenant shall be limited to $5,000,000.00. 

	
 
	
(f)
	
For each Lease, the applicable Borrower shall deliver to Bank a current estoppel certificate and a subordination, non-disturbance and attornment agreement, each in form deemed acceptable to Bank.

	
 
	
(g)
	
Bank shall have received copies of acceptable current financial statements and tax returns of each Borrower and all Guarantors.  GIP and Guarantors acknowledge that Bank has relied upon such financial statements in issuing this Letter and closing each Loan pursuant thereto, and all matters set forth in the financial statements are true and correct and all liabilities and contingent liabilities have been fully disclosed.  Any misrepresentation in the financial statements, which Bank has relied upon in closing any Loan, may constitute a chargeable offense. It shall be a condition of each closing that there shall be no material adverse change in the financial condition of the applicable Borrower or the Guarantors.

	
 
	
(h)
	
Each Borrower and the Entity Guarantor shall furnish a true and complete copy of its Articles of Organization, Operating Agreement (or Partnership Agreement, as applicable) and evidence of proper authorization of the Loan and Guarantee.  Further, and if required by the Bank, each Borrower shall provide such information for any manager of a Borrower or any direct or indirect member of a Borrower or Entity Guarantor, so as to confirm authority for entering into the subject Loan.

	
 
	
(i)
	
Each Borrower shall obtain and deliver: (i) insurance against loss or damage by fire and other casualties and hazards by insurance written on an “all risks” basis, including malicious mischief coverage, in an amount not less than the replacement cost thereof, including coverage for loss of rents, naming Bank as loss payee and mortgagee; (ii) if any Property is required to be insured pursuant to the National Flood Reform Act of 1994, and the regulations promulgated thereunder, flood insurance is required in the amount equal to the lesser of the loan amount or maximum available under the National Flood Insurance Program but in no event should the amount of coverage be less than the value of the improved structure, naming Bank as mortgagee and loss payee; (iii) as applicable, insurance which complies with the workers’ compensation and employers’ liability laws of all states in which each Borrower shall be required to maintain such insurance; (iv) liability insurance providing coverage in such amount as Bank may require but in no event less than $2,000,000.00 per occurrence and $4,000,000.00 general aggregate, naming Bank as an additional insured; and (v) such other insurance as Bank may reasonably require from time to time.

 

 

 

Each insurance policy shall include a provision that such policy will not be cancelled, altered or in any way limited in coverage or reduced in amount unless Bank is notified in writing at least thirty (30) days prior to such cancellation or change.  Each insurance policy will be written on such forms as are reasonably acceptable to Bank by insurance companies authorized or licensed to do business in the state in which the Property is located having financial size and rating acceptable to Bank.

	
 
	
(j)
	
Bank shall have received such other searches, documents, instruments and certificates including, without limitation, customary attorney opinion letters and other assurances, as Bank or Bank’s counsel may reasonably require.

General Covenants.  In addition to other affirmative and negative covenants as are typically required by Bank for this type of Facility and the Loan, the Loan Documents will contain the following additional covenants:

	
 
	
(a)
	
Debt Service Coverage Ratio.  Through the term of each Loan, each Borrower shall maintain a Debt Service Coverage Ratio (as defined herein) of not less than 1.50 to 1.00.  For the purposes hereof, the term “Debt Service Coverage Ratio” shall mean the net operating income of the Property, less a 3% management fee and 2% replacement reserve, divided by the maximum amount of principal to be borrowed under the applicable Loan, amortized over 25 years using the then-current Wall Street Journal Prime Rate.  

	
 
	
(b)
	
Transfer or Conveyance.  Each Borrower shall not be permitted to, voluntarily or by operation of law, sell, convey, transfer or permit to be sold, conveyed or transferred, any interest in or any part of any Property, nor shall a voluntary sale, pledge or other transfer of any direct interest in Borrower without the prior written consent of Bank having been first obtained; provided, however, in the event a joint venture structure is used, the Borrower shall be permitted to redeem such joint venture partner pursuant to the terms of the Borrower’s governing documents without Bank’s prior written consent, so long as GIP or the Entity Guarantor maintain control of such Borrower entity after such redemption.  Bank acknowledges that GIP and Entity Guarantor have independent investors which GIP and Entity Guarantor, as applicable, do not control, and, accordingly, the parties agree that any transfer restrictions in the Loan Documents shall not in any way prohibit or restrict transfers by such interest holders of Entity Guarantor or GIP, so long as any such transfers shall not cause for a change in control of a Borrower or the Entity Guarantor.

	
 
	
(c)
	
No Further Debt Or Encumbrances.  Each Borrower shall not be permitted to incur any additional debt, other than trade accounts payable incurred in the ordinary course of business or in connection with the redemption of the equity of a non-controlling member of the Borrower or purchase of any interest in the mortgaged Property held by a party other than the Borrower, and each Borrower shall not further encumber the applicable Property in any way including, but not limited to, acquiring any secondary liens thereon without the prior written approval of Bank.   

	
 
	
(d)
	
Guarantee.  Each Borrower shall not guarantee or otherwise become responsible for obligations of any other person, corporation, or entity excepting for the endorsement of negotiable instruments by such Borrower or any subsidiary, if any, in the ordinary course of business for collection.

Financial Information.  During the term of the Loan, each Borrower and Guarantors shall provide Bank, in form and content acceptable to Bank, the following financial information:

(a)     Annual Statements.  Deliver to Bank within one hundred twenty (120) days after the end of each calendar year, a CPA prepared and audited financial statement including a consolidated 

 

 

 

balance sheet and a consolidated statement of income (loss) and surplus (deficit) and a statement of cash flows, together with supporting schedules, all in reasonable detail and prepared in conformity with generally accepted accounting principles, applied on a basis consistent with that of the preceding year, showing the financial condition of GIP at the close of such year.  

 

(b)     Quarterly Statements.  Deliver to Bank within ninety (90) days after each quarter-end, a company-prepared financial statement including a consolidated balance sheet and a consolidated statement of income (loss) and surplus (deficit) and a statement of cash flows, together with supporting schedules, all in reasonable detail and prepared in conformity with generally accepted accounting principles, applied on a basis consistent with that of the preceding quarter, showing the financial condition of each Borrower and their respective subsidiaries, if any, at the close of each such quarter.  

 

(c)     Updated Financial Statements.  Cause to be delivered to Bank on an annual basis within twelve (12) months of the date of the financial statement then on file with Bank, updated financial statements signed and certified to Bank for each Borrower and each Guarantor of each Loan, disclosing all of the assets and liabilities, income and contingent liabilities of each Borrower and each Guarantor, in form and substance reasonably satisfactory to Bank.

 

(d)     Tax Returns.  Within thirty (30) days of filing, deliver to Bank complete copies of the Federal Tax Returns for each Borrower and each Guarantor for each year or, in the event they file extensions, a copy of the extension (and in the event they file an extension, complete copies of the Federal Tax Returns will be due within thirty (30) days after filing thereof).

 

(e)     SEC Filings.  For GIP, each Guarantor and each Borrower, to the extent any documents or filings are required to be filed with the SEC, copies shall be simultaneous provided to Bank upon filing.

 

 

(f)     Other Financial Information.  Each Borrower and the Guarantors shall deliver, promptly, such other information regarding the operation, business affairs, and financial condition of the Guarantors and such Borrower or any of its subsidiaries, if any, which the Bank may reasonably request.

 

Loan Documents.  Bank’s attorney shall prepare the necessary documentation in order to comply with all the terms and conditions of this Letter.  All documentation must be satisfactory to Bank in Bank’s discretion.  

Non-Assignability or Modification of Commitment.  The commitment evidenced by this Letter shall not be assignable by GIP.  The terms of this Letter may not be waived or modified unless such waiver or modification is expressly stated as such and specifically agreed to by the parties in writing and shall be enforceable by Bank and its successors and assigns.  The Loan Documents when executed shall evidence the final commitment to each Borrower, and upon said execution, this letter shall have no further force or effect as to the closed Loan.

Confidentiality.  GIP shall keep the contents of this Letter confidential and shall not use it or its contents as a representation of GIP’s credit worthiness.  Third parties are cautioned against relying on the contents hereof in extending credit to GIP.

Basis of Commitment. The undersigned acknowledge that this Letter is based materially upon financial information provided to it by GIP and others, and the undersigned hereby warrant and represent that such information was true and correct in all material respects when rendered and that no material change has occurred therein through the date of the execution of this commitment.  All material facts 

 

 

 

relating to the Facility or to the assets, business, profits, prospects, or conditions (financial or otherwise) of GIP have been disclosed to Bank by GIP and the Guarantors.

Voidability of Commitment. This Commitment shall be voidable at the option of Bank should any of the following events occur:

1.A material adverse change in GIP, any Borrower’s, or any Guarantor’s business, or financial condition, or disposal of a material portion of its assets other than in the ordinary course of business.

2.A proceeding is commenced by or against GIP, any Borrower or any Guarantor under any bankruptcy or insolvency law.

 

3.A default by GIP, any Borrower or any Guarantor on any other obligation they may have for money borrowed from Bank.

 

4.Any change in management or ownership of GIP or any Borrower unacceptable to Bank.

 

5.Should any law or regulation affecting Bank entering into the financing transactions contemplated hereby impose upon Bank any potential obligation, fee, liability, loss, claim, cost, expense, or damage which is not contemplated herein.

 

6.Any violation or breach by GIP or any Borrower or Guarantor of the terms of this Letter.

7.Should GIP fail to provide sufficient information to the Bank to permit verification of the identity of each Borrower in accordance with the USA Patriot Act.

Acceptance and Closing Date. This Letter shall expire if not accepted or extended in writing by the close of business on October 31, 2021 (the “Commitment Expiration Date”).  If this Letter is accepted, time being of the essence, the initial Loan made pursuant hereto must close on or before the close of business on December 31, 2021 (the “Outside Initial Closing Date”).  GIP acknowledges that the interest rate and other terms of the Facility outlined in this Letter are based upon acceptance of this Letter and closing of the initial Loan within the time periods set forth above and that these time periods are material factors in Bank offering this Letter.  Borrower shall retain the obligation, if the Letter has been accepted, to pay any fees or expenses incurred by Bank in connection with the negotiation and preparation of this Letter, including without limitation appraisal fees, attorney’s fees, flood hazard report costs, UCC search and filing fees, environmental report costs, and title commitment costs. 

If this Commitment is acceptable to you, please indicate your acceptance by signing in the space provided below and returning the original letter to me.  

We appreciate the opportunity to offer this Commitment to your company and look forward to establishing a continuing, mutually beneficial relationship.

 [signature page follows]

 

 

 

 

We are pleased to have the opportunity to assist you with this Facility.  If you have any questions regarding these terms, please call me at on my direct line at (813) 549-4725.

Sincerely,

 

AMERICAN MOMENTUM BANK

 

 

By:  /s/ Porter Smith

Porter Smith

Tampa Bay Market President

 

Agreed to and accepted this 26 day of October, 2021.

 

 

 

GIP:

 

GENERATION INCOME PROPERTIES, INC., a Maryland corporation 

 

 

By:  /s/ David Sobelman

David Sobelman, as President

 

 

Guarantors:

 

GENERATION INCOME PROPERTIES, LP, a Delaware limited partnership

 

 

By:

16060521v2

 
Print Name: _____________________________
Its: General Partner

 

 

/s/ David Sobelman

DAVID SOBELMAN

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