SEC Contract Filing

Filing Date: 2020-07-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>cbl-ex102_34.htm
<DESCRIPTION>EX-10.2
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.2</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:12pt;text-transform:none;font-variant: normal;">EXECUTION VERSION</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">FIRST AMENDMENT TO FORBEARANCE AGREEMENT</font></p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-top:9pt;margin-bottom:0pt;text-indent:10.46%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This FIRST AMENDMENT TO FORBEARANCE AGREEMENT (this &#8220;<font style="text-decoration:underline;">Amendment</font>&#8221;), dated as of July 22, 2020, by and among<font style="color:#000000;"> CBL &amp; Associates Limited Partnership, a Delaware limited partnership (the &#8220;</font><font style="text-decoration:underline;color:#000000;">Issuer</font><font style="color:#000000;">&#8221;), each of the undersigned subsidiary guarantors (the &#8220;</font><font style="text-decoration:underline;color:#000000;">Subsidiary Guarantors</font><font style="color:#000000;">&#8221;), CBL &amp; Associates Properties, Inc., a Delaware corporation (the &#8220;</font><font style="text-decoration:underline;color:#000000;">Limited Guarantor</font><font style="color:#000000;">&#8221; and, together with the Subsidiary Guarantors, the &#8220;</font><font style="text-decoration:underline;color:#000000;">Guarantors</font><font style="color:#000000;">&#8221; and, together with the Issuer, the &#8220;</font><font style="text-decoration:underline;color:#000000;">Note Parties</font><font style="color:#000000;">&#8221;), and each of the undersigned beneficial owners and/or investment advisors or managers of discretionary funds, accounts, or other entities for the holders or beneficial owners of the 2026 Notes (as defined below) (collectively, the &#8220;</font><font style="text-decoration:underline;color:#000000;">Holders</font><font style="color:#000000;">&#8221;)</font>. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:15.38%;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.38%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Issuer is the issuer under that certain Indenture, dated as of November 26, 2013, among the Issuer, the Limited Guarantor and U.S. Bank, National Association, as trustee (the &#8220;<font style="text-decoration:underline;">Trustee</font>&#8221;), as amended, modified or supplemented by that certain First Supplemental Indenture dated as of November 26, 2013 by and among the Issuer, the Limited Guarantor and the Trustee, the Second Supplemental Indenture dated as of December 13, 2016 by and among the Issuer, the Limited Guarantor and the Trustee and the Third Supplemental Indenture dated as of January 30, 2019 by and among the Issuer, the Limited Guarantor, the Subsidiary Guarantors and the Trustee (collectively, the &#8220;<font style="text-decoration:underline;">Indenture</font>&#8221;), pursuant to which the Issuer&#8217;s $450 million 5.25% Senior Notes due 2023 (the &#8220;<font style="text-decoration:underline;">2023 Notes</font>&#8221;), $300 million 4.60% Senior Notes due 2024 (the &#8220;<font style="text-decoration:underline;">2024 Notes</font>&#8221;) and $625 million 5.95% Senior Notes due 2026 (the &#8220;<font style="text-decoration:underline;">2026 Notes</font>&#8221; and, together with the 2024 Notes and 2023 Notes, the &#8220;<font style="text-decoration:underline;">Notes</font>&#8221;) are outstanding;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.38%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Note Parties and the Holders entered into that certain Forbearance Agreement, dated as of July 15, 2020 (the &#8220;<font style="text-decoration:underline;">Forbearance Agreement</font>&#8221;); </p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.38%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, concurrently with the entry into the Forbearance Agreement, the Issuer and the Requisite Lenders entered into the Credit Facilities Forbearance Agreement; </p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.38%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Issuer and the Holders desire to amend the Forbearance Agreement as set forth in this Amendment; and </p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.38%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, terms used but not otherwise defined herein shall have the meanings given to them in the Forbeara