SEC Contract Filing

Filing Date: 2019-10-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>9
<FILENAME>tv530662_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FIFTH AMENDMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECOND AMENDED AND RESTATED AGREEMENT
OF LIMITED PARTNERSHIP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF AMERICAN FINANCE OPERATING PARTNERSHIP,
L.P. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt">THIS FIFTH AMENDMENT
TO SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF AMERICAN FINANCE OPERATING PARTNERSHIP, L.P. (this &ldquo;<B>Amendment</B>&rdquo;),
dated as of October 4, 2019, is entered into by AMERICAN FINANCE TRUST, INC., a Maryland corporation, as general partner (the &ldquo;<B>General
Partner</B>&rdquo;) of AMERICAN FINANCE OPERATING PARTNERSHIP, L.P., a Delaware limited partnership (the &ldquo;<B>Partnership</B>&rdquo;),
for itself and on behalf of any limited partners of the Partnership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Second Amended and Restated Agreement of Limited Partnership of the Partnership was entered into on July 19, 2018 (as now or hereafter
amended, restated, modified, supplemented or replaced, the &ldquo;<B>Partnership Agreement</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, on
March 22, 2019, the General Partner, for itself and on behalf of any limited partners of the Partnership, entered into the Second
Amendment to the Partnership Agreement (the &ldquo;<B>Second Amendment</B>&rdquo;) to set forth the designations, allocations,
preferences, conversion and other special rights, powers and duties of a new series of Preferred Units (as defined in the Second
Amendment) of the Partnership designated the &ldquo;7.50% Series A Cumulative Redeemable Perpetual Preferred Units&rdquo; (the
 &ldquo;<B>Series A Preferred Units</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Series A Preferred Units were created and were initially issued in conjunction with the General Partner&rsquo;s initial issuance
and sale of shares of its 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share (the &ldquo;<B>Series
A Preferred Stock</B>&rdquo;), and, as such, the Series A Preferred Units are intended to have designations, preferences and other
rights and terms that are substantially the same as those of the Series A Preferred Stock, all such that the economic interests
of the Series A Preferred Units and the Series A Preferred Stock are substantially similar;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, on
May 8, 2019, the General Partner, for itself and on behalf of any limited partners of the Partnership, entered into the Third Amendment
to the Partnership Agreement to increase the number of Series A Preferred Units it was authorized to issue in conjunction with
the General Partner&rsquo;s issuance and sale of shares of Series A Preferred Stock in its at-the-market offering (the &ldquo;<B>ATM
Offering</B>&rdquo;), and, in connection therewith, the General Partner, pursuant to Section 4.02(b) of the Partnership Agreement,
has contributed, and will, upon the issuance and sale of any shares of Series A Preferred Stock in such offering, contribute, the
net proceeds of such issuances and sales to the Partnership in exchange for, and has caused, and will continue to cause, the Partnership
to issue to the General Partner a number of Series A Preferred Units equal to the number of shares of Series A Preferred Stock
actually issued in such offering from time to time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, on
September 6, 2019, the General Partner, for itself and on behalf of any limited partners of the Partnership, entered into the Fourth
Amendment to the Partnership Agreement to increase the number of Series A Preferred Units it was authorized to issue in conjunction
with the General Partner&rsquo;s issuance and sale of shares of Series A Preferred Stock in an underwritten offering, and, in connection
therewith, the General Partner, pursuant to Section 4.02(b) of the Partnership Agreement, has contributed the net proceeds of such
issuances and sales to the Partnership in exchange for, and has caused the Partnership to issue to the