SEC Contract Filing

Filing Date: 2016-11-08

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d252142dex101.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">Exhibit 10.1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIRST AMENDMENT TO AMENDED AND RESTATED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LOAN AND SECURITY AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This FIRST AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, dated as of November&nbsp;3, 2016 (this
&#147;<U>Amendment</U>&#148;), is entered into among<B> REIS SERVICES, LLC</B>, a Maryland limited liability company, as borrower (&#147;<U>Borrower</U>&#148;), <B>REIS, INC.</B>, a Maryland corporation, as guarantor (&#147;<U>Parent</U>&#148;) and
<B>CAPITAL ONE, NATIONAL ASSOCIATION</B>, a national banking association, as lender (&#147;<U>Lender</U>&#148;). Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Loan Agreement (as defined
below). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, Borrower, Parent and Lender are parties to that certain Amended and Restated Loan and Security Agreement, dated as of
January&nbsp;28, 2016 (the &#147;<U>Loan Agreement</U>&#148;) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, Borrower and Parent have requested that Lender agree to certain
amendments to the Loan Agreement, and, pursuant to Section&nbsp;15.1 of the Loan Agreement, Lender has agreed to amend the Loan Agreement as herein provided; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.<B><U> Amendment to the Loan Agreement</U>.</B> The Loan Agreement shall be amended as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1.1 thereof shall be amended by adding the following definition in appropriate
alphabetical order: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Share Repurchase Program</U>&#148; means the share repurchase program authorized by the Board of
Directors of Parent on August&nbsp;30, 2016 pursuant to which Parent may, utilizing cash on its balance sheet, repurchase a portion of its Equity Interests from its equityholders in the open market or through privately negotiated transactions up to
an aggregate of $5,000,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The definition of &#147;<U>Fixed Charge Coverage
Ratio</U>&#148; in Section&nbsp;1.1 thereof shall be amended by adding the following proviso at the end of clause (b)&nbsp;thereof: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><U>provided</U> that this clause (b)&nbsp;shall not include any cash payments made to consummate all or any portion of the Permitted Share
Repurchase Program </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.10 thereof shall be amended by (i)&nbsp;deleting the
word &#147;and&#148; at the end of clause (b), (ii)&nbsp;deleting the period and adding &#147;; and&#148; at the end of clause (c)&nbsp;and (iii)&nbsp;adding the following new clause (d)&nbsp;at the end thereof: </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(d) if the Restricted Payment is being made by Parent from time to time in order to consummate
all or any portion of the Permitted Share Repurchase Program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article 12 thereof shall
be amended by amending the Borrower&#146;s notice information set forth therein as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">If&nbsp;to&nbsp;Borrower:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="3">Reis Services, LLC</TD></TR>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">1185 Avenue of the Americas, 30<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Floor</TD></TR>
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