Document:

commonstockcerti.htm

EXHIBIT 4.1

 

	        Number *0*	 Shares *0*         

 

 

	 	SEE REVERSE FOR IMPORTANT NOTICE
	 	ON TRANSFER RESTRICTIONS AND OTHER INFORMATION

 

 

 

	THIS CERTIFICATE IS TRANSFERABLE        	CUSIP ___________   
	IN THE CITIES OF _________________   	 

                                        

OWENS REALTY MORTGAGE, INC.

a Corporation Formed Under the Laws of the State of Maryland

THIS CERTIFIES THAT **Specimen** is the owner of **Zero (0)** fully paid and nonassessable shares of Common Stock, $0.01 par value per share, of

Owens Realty Mortgage, Inc.

(the “Corporation”) transferable on the books of the Corporation by the holder hereof in person or by its duly authorized attorney, upon surrender of this Certificate properly endorsed.  This Certificate and the shares represented hereby are issued and shall be held subject to all of the provisions of the charter of the Corporation (the “Charter”) and the Bylaws of the Corporation and any amendments or supplements thereto. This Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar.

IN WITNESS WHEREOF, the Corporation has caused this Certificate to be executed on its behalf by its duly authorized officers.

DATED: __________________

Countersigned and Registered:

 Transfer Agent                                                                                                  ____________________________________(SEAL)

 and Registrar                                                                                                  President

By:___________________________                                                         __________________________________________

     Authorized Signature                                                                                   Secretary

  

  

  

     IMPORTANT NOTICE

 

 

	
The Corporation will furnish to any stockholder, on request and without charge, a full statement of the information required by Section 2-211(b) of the Corporations and Associations Article of the Annotated Code of Maryland with respect to the designations and any preferences, conversion and other 

rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption of the stock of each class which the Corporation has authority to issue and, if the Corporation is authorized to issue any preferred or special class in series, (i)

the differences in the relative rights and preferences between the shares of each series to the extent set, and (ii) the authority of the Board of Directors to set such rights and preferences of subsequent series. The foregoing summary does not purport to be complete and is subject to and qualified in its 

entirety by reference to the Charter, a copy of which will be sent without charge to each stockholder who so requests. Such request must be made to the Secretary of the Corporation at its principal office.

 

	
The shares represented by this certificate are subject to restrictions on Beneficial and Constructive Ownership and Transfer for the purpose, among others, of the Corporation’s maintenance of its status as a Real Estate Investment Trust under the Internal Revenue Code of 1986, as amended (the “Code”). 

Subject to certain further restrictions and except as expressly provided in the Corporation’s Charter, (i) no Person may Beneficially or Constructively Own shares of the Corporation’s Common Stock in excess of the Common Stock Ownership Limit unless such Person is an Excepted Holder (in which case

the Excepted Holder Limit shall be applicable); (ii) no Person may Beneficially or Constructively Own shares of Capital Stock of the Corporation in excess of the Aggregate Stock Ownership Limit, unless such Person is an Excepted Holder (in which case the Excepted Holder Limit shall be applicable); (iii) no 

Person may Beneficially or Constructively Own Capital Stock that would result in the Corporation being “closely held” under Section 856(h) of the Code or otherwise cause the Corporation to fail to qualify as a REIT; and (iv) no Person may Transfer shares of Capital Stock if such Transfer would result in

the Capital Stock of the Corporation being owned by fewer than 100 Persons. Any Person who Beneficially or Constructively Owns or attempts to Beneficially or Constructively Own shares of Capital Stock which causes or will cause a Person to Beneficially or Constructively Own shares of Capital Stock in 

excess or in violation of the above limitations must immediately notify the Corporation. If any of the restrictions on transfer or ownership are violated, the shares of Capital Stock represented hereby will be automatically transferred to a Trustee of a Trust for the benefit of one or more Charitable 

Beneficiaries. In addition, the Corporation may redeem shares upon the terms and conditions specified by the Board of Directors if the Board of Directors determines that ownership or a Transfer or other event may violate the restrictions described above. Furthermore, upon the occurrence of certain 

events, attempted Transfers in violation of the restrictions described above may be void ab initio. All capitalized terms in this legend have the meanings defined in the Charter of the Corporation, as the same may be amended from time to time, a copy of which, including the restrictions on transfer and 

ownership, will be furnished to each holder of Capital Stock of the Corporation on request and without charge. Requests for such a copy may be directed to the Secretary of the Corporation at its Principal Office.

 

KEEP THIS CERTIFICATE IN A SAFE PLACE.  IF IT IS LOST, STOLEN OR DESTROYED, THE CORPORATION WILL REQUIRE

A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE.

The following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

TEN COM   -    as tenants in common                                                          UNIF GIFT MIN ACT                        Custodian _________

TEN ENT     -    as tenants by the entireties                                                                                     (Custodian)                       (Minor)

JT TEN        -     as joint tenants with right of                                              Under the Uniform Gifts to Minors Act of  _______________

survivorship and not as tenants in common                                                                                                  (State)

 

 

FOR VALUE RECEIVED, _______________ HEREBY SELLS, ASSIGNS AND TRANSFERS UNTO 

__________________________________________________________________________________

                                                                                                                                                  (NAME & ADDRESS, INCLUDING ZIP CODE & SS# OR OTHER IDENTIFYING #  OF ASSIGNEE)

                                       (                       ) shares of stock of the Corporation represented by this Certificate and does hereby irrevocably constitute and appoint

                                             attorney to transfer the said shares on the books of the Corporation, with full power of substitution in the premises.

Dated: _______________________

 

___________________________________________________________________________________________

	
  

	
NOTICE:  THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE

	
  

	
FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY OTHER CHANGE.efc13-97_ex101.htm

Exhibit 10.1

 

Execution Version

THIRD AMENDMENT TO CREDIT AGREEMENT

 

THIS THIRD AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) dated as of January 22, 2013 by and among ROUSE PROPERTIES, INC., a corporation formed under the laws of the State of Delaware (the “Borrower”), each of the Lenders party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Administrative Agent”).

 

WHEREAS, the Borrower, the Lenders, the Administrative Agent and certain other parties have entered into that certain Credit Agreement dated as of January 12, 2012 (as amended and as in effect immediately prior to the effectiveness of this Amendment, the “Credit Agreement”); and

 

WHEREAS, the Borrower has advised the Lenders that it intends to prepay the Term Loans by $100,000,000 and has requested that the Lenders increase the aggregate amount of the Revolving Commitments by that same amount, and in connection therewith, the parties desire to amend and waive certain provisions of the Credit Agreement on the terms and conditions contained herein.

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.  Conditions Precedent.  The effectiveness of this Amendment, including without limitation, the increase of the Revolving Commitment and reallocations contemplated by Section 2 hereof, is subject to receipt by the Administrative Agent of each of the following:

(i)           counterparts of this Amendment executed by the Borrower and all of the Lenders;

(ii)           replacement Revolving Notes executed by the Borrower payable to each Revolving Lender (other than any such Lender who has notified the Administrative Agent that it has elected not to receive a replacement Revolving Note) in the original principal amount of such Revolver Lender’s Revolving Commitment as set forth on Schedule I attached hereto;

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

(iv)           receipt by the Administrative Agent of $100,000,000 in immediately available funds from the Borrower to be applied to prepay the Term Loans (the “Term Loan Prepayment”);

(v)           receipt by the Administrative Agent of a letter, in form and substance satisfactory to the Administrative Agent, from the title company that issued the title insurance policies insuring the Liens of the Security Instruments encumbering the Mortgaged Properties to the effect that that the amendment of the Credit Agreement contemplated by this Amendment does not affect the coverage provided by such policies;

(vi)           evidence that all fees and expenses due and payable to the Administrative Agent, the Lenders and any of their respective Affiliates have been paid, including without limitation, the fees payable under Section 3 below; and

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

 

 

 

  

  

  

 

Section 2.  Reallocations.  The Administrative Agent, the Borrower and each Revolving Lender agree that upon the effectiveness of this Amendment, the amount of such Revolving Lender’s Revolving Commitment as set forth on Schedule I to the Credit Agreement shall be as set forth on Schedule I attached hereto.  Simultaneously with the effectiveness of this Amendment, the Revolving Commitments of each of the Revolving Lenders, the outstanding amount of all outstanding Revolving Loans and the participations of the Revolving Lenders in outstanding Letters of Credit and Swingline Loans shall be reallocated among the Revolving Lenders in accordance with their respective Revolving Commitment Percentages (determined in accordance with the amount of each Revolving Lender’s Revolving Commitment set forth on Schedule I attached hereto), and in order to effect such reallocations, each Revolving Lender whose Revolving Commitment exceeds its Revolving Commitment immediately prior to the effectiveness of this Amendment (each an “Assignee Lender”) shall be deemed to have purchased all right, title and interest in, and all obligations in respect of, the Revolving Commitments of the Lenders whose Revolving Commitments are less than their respective Revolving Commitments immediately prior to the effectiveness of this Amendment (each an “Assignor Lender”), so that the Revolving Commitments of each Revolving Lender will be as set forth on Schedule I attached hereto.  Such purchases shall be deemed to have been effected by way of, and subject to the terms and conditions of, Assignment and Assumptions without the payment of any related assignment fee, and, except for replacement Revolving Notes to be provided to the Assignor Lenders and Assignee Lenders (other than any such Lender who has notified the Administrative Agent that it has elected not to receive a replacement Revolving Note) in the principal amount of their respective Revolving Commitments, no other documents or instruments shall be, or shall be required to be, executed in connection with such assignments (all of which are hereby waived).  The Assignor Lenders and Assignee Lenders shall make such cash settlements among themselves, through the Administrative Agent, as the Administrative Agent may direct (after giving effect to any netting effected by the Administrative Agent) with respect to such reallocations and assignments.

 

Section 3.  Fees for Revolving Commitment Increases.  The Borrower agrees to pay to the Administrative Agent for the benefit of each Revolving Lender a fee in an amount equal to 0.25% of the amount of the increase of such Revolving Lender’s Revolving Commitment effected pursuant to Section 2 above.

Section 4.  Waiver of Prepayment Premiums.  Each of the Term Loan Lenders waives the requirement that the Borrower pay amounts otherwise payable under Section 2.8(b) as a result of the Term Loan Prepayment.

Section 5.  No Effect on Allocated Balances.  Notwithstanding Section 2.8(d), the Allocated Balances shall not be reduced as a result of the Term Loan Prepayment.

Section 6.  Representations.  The Borrower represents and warrants to the Administrative Agent and the Lenders that:

 

(a)           Authorization.  The Borrower has the right and power, and has taken all necessary action to authorize it, to execute and deliver this Amendment and to perform its obligations hereunder and under the Credit Agreement, as amended by this Amendment, in accordance with their respective terms.  This Amendment has been duly executed and delivered by the Borrower and each of this Amendment and the Credit Agreement, as amended by this Amendment, is a legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its respective terms except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability.

 

 

 

  

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(b)           No Conflicts.  The execution and delivery by the Borrower of this Amendment, and the performance by the Borrower of this Amendment and the Credit Agreement, as amended by this Amendment, in accordance with their respective terms, do not and will not, by the passage of time, the giving of notice, or both:  (a) require any material Governmental Approval or violate in any material respect any Applicable Law (including all Environmental Laws) relating to the Borrower; (ii) conflict with, result in a breach of or constitute a default under (x) the organizational documents of the Borrower, or (y) any indenture, agreement or other instrument to which the Borrower is a party or by which it or any of its properties may be bound; or (iii) result in or require the creation or imposition of any Lien upon or with respect to any property of the Borrower other than Liens created under the Loan Documents in favor of the Administrative Agent for the benefit of the Secured Parties.

Section 7.  Certain References.  Each reference to the Credit Agreement in any of the Loan Documents shall be deemed to be a reference to the Credit Agreement as amended by this Amendment.

Section 8.  Expenses.  The Borrower shall reimburse the Administrative Agent for all reasonable and documented out-of-pocket costs and expenses (including reasonable attorneys’ fees) incurred by the Administrative Agent in connection with the preparation, negotiation and execution of this Amendment and the other agreements and documents executed and delivered in connection herewith.

Section 9.  Benefits.  This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.

Section 10.  GOVERNING LAW.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT TAKING INTO ACCOUNT CONFLICT OF LAW PRINCIPLES).

Section 11.  Effect.  Except as expressly herein amended, the terms and conditions of the Credit Agreement and the other Loan Documents remain in full force and effect.  The amendments contained herein shall be deemed to have prospective application only.

Section 12.  Counterparts.  This Amendment 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.

Section 13.  Definitions.  All capitalized terms not otherwise defined herein are used herein with the respective definitions given them in the Credit Agreement.

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Execution Version

IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to Credit Agreement to be executed as of the date first above written.

 

	 	 
ROUSE PROPERTIES, INC.

	 
	 	 	 	 
	
 

	
By: 

	/s/ John A. Wain   	 
	 	 	Name:  John A. Wain 	 
	 	 	Title:  Chief Financial Officer 	 
	 	 	 	 

 

 

 

 

 

 

 

[Signatures Continued on Next Page]

 

 

 

  

  

  

 

Execution Version

 

 

[Signature Page to Third Amendment to Credit Agreement for Rouse Properties, Inc.]

 

 

 

	 	 
 
WELLS FARGO BANK, NATIONAL ASSOCIATION, as 

    Administrative Agent and as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Winita Lau	 
	 	 	Name:  Winita Lau	 
	 	 	Title:  Vice President	 
	 	 	 	 

 

 

[Signatures Continued on Next Page]

  

  

  

[Signature Page to Third Amendment to Credit Agreement for Rouse Properties, Inc.]

 

 

 

	 	 
 
ROYAL BANK OF CANADA, as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Brian Gross  	 
	 	 	Name:  Brian Gross	 
	 	 	Title:  Authorized Signatory	 
	 	 	 	 

 

[Signatures Continued on Next Page]

  

  

  

[Signature Page to Third Amendment to Credit Agreement for Rouse Properties, Inc.]

 

 

	 	 
 
U.S. BANK NATIONAL ASSOCIATION, as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Dennis Redpath  	 
	 	 	Name:  Dennis Redpath	 
	 	 	Title:  Senior Vice President	 
	 	 	 	 

 

[Signatures Continued on Next Page]

  

  

  

[Signature Page to Third Amendment to Credit Agreement for Rouse Properties, Inc.]

 

 

 

	 	 
 
GOLDMAN SACHS BANK USA, as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Mark Walton 	 
	 	 	Name:  Mark Walton	 
	 	 	Title:  Authorized Signatory	 
	 	 	 	 

 

[Signatures Continued on Next Page]

  

  

  

Signature Page to Third Amendment to Credit Agreement for Rouse Properties, Inc.

January 2013

 

 

	 	 
 
DEUTSCHE BANK TRUST COMPANY AMERICAS, as a 

Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ George R. Reynolds 	 
	 	 	Name:  George R. Reynolds	 
	 	 	Title:  Director	 
	 	 	 	 

 

	 	 
 

	 
	 	 	 	 
	
 

	
By: 

	/s/ Perry Forman	 
	 	 	Name:  Perry Forman	 
	 	 	Title:  Director	 
	 	 	 	 

 

[Signatures Continued on Next Page]

  

  

  

[Signature Page to Third Amendment to Credit Agreement for Rouse Properties, Inc.]

 

 

 

	 	 
 
BARCLAYS BANK PLC, as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Noam Azachi 	 
	 	 	Name:  Noam Azachi	 
	 	 	Title:  Assistant Vice President	 
	 	 	 	 

 

[Signatures Continued on Next Page]

  

  

  

[Signature Page to Third Amendment to Credit Agreement for Rouse Properties, Inc.]

 

 

 

 

	 	 
 
 
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a 

    Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Bill O'Daly 	 
	 	 	Name:  Bill O'Daly	 
	 	 	Title:  Director	 
	 	 	 	 

 

	 	 
 

	 
	 	 	 	 
	
 

	
By: 

	/s/ Michael D'Onofrio	 
	 	 	Name:  Michael D'Onofrio	 
	 	 	Title:  Associate	 
	 	 	 	 

 

  

  

  

 

 

 

Execution Version

SCHEDULE I

Revolving Commitments

	 	
Lender

	
Revolving Commitment 

Amount

	 
	 	
Wells Fargo Bank, National Association

	  $53,466,262.98	 
	 	
Royal Bank of Canada

	  $27,454,440.60	 
	 	
U.S. Bank National Association

	  $24,224,913.49	 
	 	
Goldman Sachs Bank USA

	  $15,477,220.30	 
	 	
Deutsche Bank Trust Company Americas

	  $14,227,220.30	 
	 	
Barclays Bank PLC

	  $7,574,971.17	 
	 	
Credit Suisse AG, Cayman Islands Branch

	  $7,574,971.16	 
	 	
TOTAL

	  $150,000,000	 

  

  

  

EXHIBIT A

FORM OF GUARANTOR ACKNOWLEDGEMENT

 

 

THIS GUARANTOR ACKNOWLEDGEMENT dated as of January 18, 2013 (this “Acknowledgement”) executed by each of the undersigned (the “Guarantors”) in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Administrative Agent”), and each Secured Party.

 

WHEREAS, Rouse Properties, Inc., a corporation formed under the laws of the State of Delaware (the “Borrower”), the Lenders, the Administrative Agent and certain other parties have entered into that certain Credit Agreement dated as of January 12, 2012 (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 January 12, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Guaranty”) pursuant to which they guarantied, among other things, the Borrower’s obligations under the Credit Agreement on the terms and conditions contained in the Guaranty;

WHEREAS, the Borrower, the Administrative Agent and the Lenders are to enter into a Third Amendment to Credit Agreement dated as of the date hereof (the “Amendment”), to amend and waive certain terms of the Credit Agreement on the terms and conditions contained therein; and

WHEREAS, it is a condition precedent to the effectiveness of the Amendment 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 Secured Parties under the Guaranty and agrees that the transactions contemplated by the Amendment 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.

Section 4.  Definitions.  All capitalized terms not otherwise defined herein are used herein with the respective definitions given them in the Credit Agreement.

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A-1

  

 

 

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

 

	 	 
 
BIRCHWOOD MALL, LLC

CACHE VALLEY MALL, LLC

CHULA VISTA CENTER, LP

      By:  Chula Vista GP, LLC, its general partner

COLONY SQUARE MALL L.L.C.

GGP-GATEWAY MALL L.L.C.

LANSING MALL, LLC

MALL ST. VINCENT, LLC

NORTH PLAINS MALL, LLC

SIERRA VISTA MALL, LLC

SILVER LAKE MALL, LLC

SPRING HILL MALL L.L.C.

THREE RIVERS MALL L.L.C.

WESTWOOD MALL, LLC

WHITE MOUNTAIN MALL, LLC

	 
	 	 	 	 
	
 

	
By: 

	/s/ John A. Wain   	 
	 	 	Name:  John A. Wain 	 
	 	 	Title:  Chief Financial Officer 	 
	 	 	 	 

 

 

 

A-2

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