SEC Contract Filing

Filing Date: 2017-05-10

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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>bgcp-ex101_421.htm
<DESCRIPTION>EX-10.1
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.1</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">REVOLVING CREDIT AGREEMENT</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This <font style="font-weight:bold;font-variant: small-caps;">Revolving Credit Agreement</font>, dated as of April 21, 2017, is made by and between&nbsp;&nbsp;<font style="font-weight:bold;font-variant: small-caps;">BGC Partners, Inc.</font><font style="color:#000000;"> a Delaware corporation&nbsp;&nbsp;</font>(&#8220;<font style="font-weight:bold;">Lender</font>&#8221;), and <font style="font-weight:bold;font-family:Times New Roman Bold;font-variant: small-caps;">Cantor Sponsor, L.P.</font><font style="font-variant: small-caps;">,</font> a Delaware<font style="color:#000000;"> limited partnership </font>(&#8220;<font style="font-weight:bold;">Borrower</font>&#8221;).</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-weight:bold;font-variant: small-caps;font-family:Times New Roman;font-style:normal;text-transform:none;">Recitals</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-size:11pt;font-family:Times New Roman Bold;font-variant: small-caps;font-style:normal;text-transform:none;">Whereas<font style="color:#000000;font-family:Times New Roman;font-weight:normal;font-variant: normal;">, </font><font style="font-family:Times New Roman;font-weight:normal;font-variant: normal;">Borrower requires the availability of certain loan facilities for the operation of its business, and has requested that Lender make certain loan facilities available to Borrower; and</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-size:11pt;font-family:Times New Roman Bold;font-variant: small-caps;font-style:normal;text-transform:none;">Whereas<font style="font-family:Times New Roman;font-weight:normal;font-variant: normal;">, Lender is willing to provide Borrower with such loan facilities on the terms and conditions hereafter provided;</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-size:11pt;font-variant: small-caps;font-family:Times New Roman;font-style:normal;text-transform:none;">Now, Therefore<font style="font-weight:normal;font-variant: normal;">, in order to induce Lender to make the Loans and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and intending to be legally bound, Lender and Borrower hereby agree as follows:</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:54pt;"></font><font style="font-weight:bold;font-variant: small-caps;">Defined Terms</font><font style="font-variant: small-caps;">.&nbsp;&nbsp;</font>When used in this Agreement, the following terms shall have the following meanings (such meanings being equally applicable to both the singular and plural forms of the terms defined):</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="font-weight:bold;">Agreement</font>&#8221; means this Revolving Credit Agreement, as it may be amended or modified and in effect from time to time.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="font-weight:bold;">Applicable Rate</font>&#8221; shall mean, for any Rate Period, the greater of (a) the Lender&#8217;s short-term borrowing rate in effect at such time plus 100 basis points (1.00%) and (b) CFLP&#8217;s short-term borrowing rate in effect at such time plus 100 basis points (1.00%).&nbsp;&nbsp;The Applicable Rate for each Rate Period shall be determined by the Lender in accordance herewith, and the Lender shall advise the Borrower of such determination. </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="font-weight:bold;">Business Day</font>&#8221; means with respect to any borrowing or payment, a day other than Saturday or Sunday on which banks are open for business in New York, New York.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;<font style="font-weight:bold;">CLFP</font>&#8221; means Cantor Fitzgerald, L.P., a Delaware limited partnership.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> &#8