SEC Contract Filing

Filing Date: 2024-08-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>exhibit103cmct-xjpmorganxc.htm
<DESCRIPTION>EX-10.3
<TEXT>
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<title>Document</title></head><body><div id="i3fbf1397e23a427dbcfbccf5906525cd_1"></div><div style="min-height:49.32pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Exhibit 10.3</font></div></div><div style="padding-left:373.95pt"><img alt="image_0.jpg" src="image_0.jpg" style="height:35px;margin-bottom:5pt;vertical-align:text-bottom;width:132px"></div><div><font><br></font></div><div style="margin-top:5.05pt"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">August 7, 2024</font></div><div><font><br></font></div><div><font><br></font></div><div style="padding-right:278.45pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">9460 Wilshire Blvd (BH) Owner, L.P. c&#47;o CIM Group, LLC</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">4700 Wilshire Blvd.</font></div><div style="padding-right:298.05pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Los Angeles, California 90010 Attention&#58; Chief Financial Officer Email&#58; DThompson&#64;cimgroup.com Attention&#58; General Counsel</font></div><div><font><br></font></div><div style="padding-right:169.9pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:232%">Re&#58; Limited Waiver&#59; Post-Closing Obligation Timeline Ladies and Gentlemen&#58;</font></div><div style="padding-right:5.75pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Reference is made to that certain Amended and Restated Credit Agreement dated as of December 16, 2022, among 9460 Wilshire Blvd (BH) Owner, L.P., the other borrowers from time to time party thereto (individually and collectively, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">&#8220;Borrower&#8221;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">), each lender from time to time a party thereto (individually, a </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">&#8220;Lender&#8221; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">and collectively, the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">&#8220;Lenders&#8221;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">), and JPMorgan Chase Bank, N.A., a national banking association, as Administrative Agent for the Lenders (in such capacity, the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">&#8220;Administrative Agent&#8221;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">), as modified by that certain Modification Agreement (the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">&#8220;Modification Agreement&#8221;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">) dated as of May 14, 2024 (collectively, as further amended, restated or otherwise modified, the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">&#8220;Credit Agreement&#8221;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">). Capitalized terms used in this letter agreement (the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">&#8220;Letter Agreement&#8221;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">) and not otherwise used herein have the meanings provided in the Credit Agreement.</font></div><div><font><br></font></div><div style="padding-right:5.8pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Borrower has informed Administrative Agent and Lenders that the Consolidated Group may fail to satisfy the Consolidated Fixed Charge Coverage Ratio for the Measurement Period ending on the June 30, 2024 Determination Date (the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">&#8220;Specified Measurement Period&#8221;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">) as required pursuant to </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.20(c)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> of the Credit Agreement. Borro