SEC Contract Filing

Filing Date: 2020-07-22

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>cpa182020q28-kwpclocexh103.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="sCB7AB48C1959135AF81D5EA6D67F51C5"></a></div><div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.3</font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">PAYMENT GUARANTY</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THIS PAYMENT GUARANTY</font><font style="font-family:inherit;font-size:12pt;">&#32;(this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Guaranty</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is made as of July 16, 2020 by </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CORPORATE PROPERTY ASSOCIATES 18 &#8211; GLOBAL INCORPORATED</font><font style="font-family:inherit;font-size:12pt;">, a Maryland corporation having an address at 50 Rockefeller Plaza, 2nd Floor, New York, NY 10020 (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Guarantor</font><font style="font-family:inherit;font-size:12pt;">&#8221;), in favor of </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">W. P. CAREY INC</font><font style="font-family:inherit;font-size:12pt;">., a Maryland corporation, having an address at 50 Rockefeller Plaza, 2</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">nd</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;Floor, New York, NY 10020 (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">RECITALS</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">A.&#160;&#160;&#160;&#160;Lender has agreed to make one or more loans (collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Loan</font><font style="font-family:inherit;font-size:12pt;">&#8221;) in the maximum aggregate principal amount outstanding at any one time of up to TWENTY FIVE MILLION and No/100 Dollars ($25,000,000.00) to </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CPA:18 LIMITED PARTNERSHIP</font><font style="font-family:inherit;font-size:12pt;">, a Delaware limited partnership (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrower</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">B.&#160;&#160;&#160;&#160;The Loan is evidenced by that certain Promissory Note (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Note</font><font style="font-family:inherit;font-size:12pt;">&#8221;) dated as of the date hereof and payable to Lender.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">C.&#160;&#160;&#160;&#160;The Note and the Loan Agreement and all other documents, instruments and agreements now in effect or hereafter entered into in connection with the Loan are referred to, collectively, as the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Loan Documents</font><font style="font-family:inherit;font-size:12pt;">.&#8221; </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">D.&#160;&#160;&#160;&#160;It is a condition to Lender&#8217;s agreement to make the Loan that Guarantor be unconditionally liable for and guarantee the payment and performance of the obligations represented by the Note and all other liabilities and obligations of Borrower under the Loan Documents on the terms and conditions set forth in this Guaranty.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;