SEC Contract Filing

Filing Date: 2024-03-19

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d797492dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXECUTION VERSION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECOND
AMENDMENT TO RESTRUCTURING SUPPORT AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This SECOND AMENDMENT to Restructuring Support Agreement referred to below, dated as of
March&nbsp;13, 2024 (this &#147;<B><U>Second Amendment</U></B>&#148;), is entered into by and among: (i)&nbsp;Pennsylvania Real Estate Investment Trust (&#147;<B><U>PREIT</U></B>&#148;) and certain of its direct and indirect subsidiaries listed on
Annex A to the Restructuring Support Agreement (as defined below), (ii) the undersigned holders of, or investment advisors, <FONT STYLE="white-space:nowrap">sub-advisors</FONT> or managers of discretionary accounts that hold Prepetition First Lien
Claims that have executed and delivered counterpart signature pages to this Second Amendment and (iii)&nbsp;the undersigned holders of, or investment advisors, <FONT STYLE="white-space:nowrap">sub-advisors</FONT> or managers of discretionary
accounts that hold Prepetition Second Lien Claims ((ii) and (iii), the &#147;<B><U>Amendment</U></B><U> </U><B><U>Consenting Lenders</U></B>&#148;) that have executed and delivered counterpart signature pages to this Second Amendment. Capitalized
terms used herein but not otherwise defined in this Second Amendment have the same meanings as specified in the Restructuring Support Agreement referred to below, as amended by this Second Amendment. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>RECITALS </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
PREIT and the Consenting Lenders entered into that certain Restructuring Support Agreement, dated as of December&nbsp;7, 2023, including the exhibits and schedules attached thereto (as amended, restated, amended and restated, supplemented or
otherwise modified prior to the date hereof including by that certain First Amendment to Restructuring Support Agreement, dated as of February&nbsp;15, 2024, the &#147;<B><U>Restructuring Support Agreement</U></B>&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, PREIT and the Amendment Consenting Lenders, which Amendment Consenting Lenders constitute Requisite Consenting Lenders, have agreed
to further amend the Restructuring Support Agreement as set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, intending to be legally bound, the parties
hereto agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Amendments to Restructuring Support Agreement</U>. Effective as of the Second Amendment Effective
Date (as defined below), the Restructuring Support Agreement is hereby amended as follows: The Restructuring Support Agreement is amended by replacing &#147;March 13, 2024&#148; in every place used with &#147;April 15, 2024&#148;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Continued Effectiveness of the Restructuring Support Agreement</U>. For the avoidance of doubt, (i)&nbsp;the Restructuring
Support Agreement remains unchanged and in full force and effect, except as amended hereby and (ii)&nbsp;from and after the Second Amendment Effective Date, all references to the &#147;Agreement&#148;, the &#147;Restructuring Support Agreement&#148;
or the &#147;RSA&#148; in the Restructuring Support Agreement shall be deemed to refer to the Restructuring Support Agreement as amended by this Second Amendment.&nbsp;The amendments set forth herein shall be limited precisely as provided for herein
and shall not be deemed to be waivers of, amendments of, consents to or modifications of any other term or provision of the&nbsp;Restructuring Support Agreement&nbsp;or any other document or instrument referred to therein or of any transaction or
further or future action on the part of PREIT requiring the consent of the&nbsp;Consenting Lenders&nbsp;or any subset of the Consenting Lenders.&nbsp;PREIT and the Consenting Lenders (and any subset of the Consenting Lenders) have not and shall not
be deemed to have waived any of their respective rights and remedies against the other Parties or any other Person for any existing or future defaults or events of default under the Restructuring Support Agreement&nbsp;or any other document or
instrument referred to therein or of any transaction or further or future action on the part of any Party or any other Person under the&nbsp;Restructuring Support Agreement&nbsp;or any other document or instrument referred to therein, including,
without limitation, any termination right(s) existing or arising in favor of PREIT or the Consenting Lenders (or any subset of the Consenting Lenders), as applicable, including as a result of any breach of the Restructuring Support Agreement or
failure to satisfy requirements thereunder. </P>
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