SEC Contract Filing

Filing Date: 2025-04-08

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<DIV><FONT size="1" style="font-size:1pt;color:white">STORE/ Ascent (Synalloy) Fifth Amended and Restated Master Lease 8 Properties in OH, NC, PA, SC, TN and TX File No. 7210/02-475 4917-5155-8937.2 FIFTH AMENDED AND RESTATED MASTER LEASE AGREEMENT THIS FIFTH AMENDED AND RESTATED MASTER LEASE AGREEMENT (this &#8220;Lease&#8221;) is made as of April 4, 2025 (the &#8220;Effective Date&#8221;), by and between STORE MASTER FUNDING XII, LLC, a Delaware limited liability company (&#8220;Lessor&#8221;), whose address is 8377 E. Hartford Drive, Suite 100, Scottsdale, Arizona 85255, and ASCENT INDUSTRIES CO., a Delaware corporation (&#8220;Lessee&#8221;), whose address is 20 N. Martingale Rd, Suite 430, Schaumburg IL 60173. Capitalized terms not defined herein shall have the meanings set forth in Exhibit A hereto. This Lease amends and restates in its entirety that certain Fourth Amended and Restated Master Lease Agreement dated August 29, 2024 (together with any and all amendments thereto (the &quot;Prior Lease&quot;) by and between Lessor and Lessee (formerly known as Synalloy Corporation) to reflect the removal of the Bristol Property herefrom. The terms of the Prior Lease shall remain in force and effect as to the period ending on 11:59 P.M. prior to the Effective Date hereof. The terms contained in this Lease shall apply to and be effective with respect to the period from and after the Effective Date, without novation, replacement or substitution of the Prior Lease, and the leasehold estate of Lessee shall mean the leasehold estate commencing under the Prior Lease. In consideration of the mutual covenants and agreements herein contained, Lessor and Lessee hereby covenant and agree as follows: ARTICLE I BASIC LEASE TERMS Section 1.01. Properties. The street addresses and legal descriptions of the Properties are set forth on Exhibit B attached hereto and incorporated herein. Section 1.02. Initial Term Expiration Date. September 30, 2036. Section 1.03. Extension Options. Two (2) extensions of ten (10) years each, as described in Section 3.02. Section 1.04. Term Expiration Date (if fully extended). September 30, 2056. Section 1.05. Current Base Annual Rental. $2,786,682.12, as described in Article IV. Section 1.06. Rental Adjustment. The lesser of (i) 2.00%, or (ii) 1.25 times the change in the Price Index, as described in Section 4.02. Section 1.07. Adjustment Date. October 1, 2025 and annually thereafter during the Lease Term (including any Extension Term). Section 1.08. Guarantor. None. Section 1.09. Lessee Tax Identification No. 57-0426694. </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">STORE/ Ascent (Synalloy) Fifth Amended and Restated Master Lease 8 Properties in OH, NC, PA, SC, TN and TX File No. 7210/02-475 2 4917-5155-8937.2 Section 1.10. Lessor Tax Identification No. 81-2113691. ARTICLE II LEASE OF PROPERTIES Section 2.01. Lease. In consideration of Lessee&#8217;s payment of the Rental and other Monetary Obligations and Lessee&#8217;s performance of all other obligations hereunder, Lessor hereby leases to Lessee, and Lessee hereby takes and hires, the Properties, &#8220;AS IS&#8221; and &#8220;WHERE IS&#8221; without representation or warranty by Lessor, and subject to the existing state of title, the parties in possession, any statement of facts which an accurate survey or physical inspection might reveal, and all Legal Requirements now or hereafter in effect. Section 2.02. Quiet Enjoyment. So long as Lessee shall pay the Rental and other Monetary Obligations provided in this Lease and shall keep and perform all of the terms, covenants and conditions on its part contained herein, Lessee shall have, subject to the terms and conditions set forth herein, the right to the peaceful and quiet enjoyment and occupancy of the Properties. ARTICLE III LEASE TERM; EXTENSION Section 3.01. Initial Term. The remaining term of this Lease (&#8220;Initial Term&#8221;) shall expire at midnight on September 30, 2036, unless terminated sooner as provided in this Lease and as may be extended as provided herein. The time period during which this Lease shall actually be in effect, including any Extension Term, is referred to as the &#8220;Lease Term.&#8221; Section 3.02. Extensions. Unless this Lease has expired or has been sooner terminated, or an Event of Default has occurred and is continuing at the time any extension option is exercised, Lessee shall have the right and option (each, an &#8220;Extension Option&#8221;) to extend the Initial Term for all and not less than all of the Properties for two (2) additional successive periods of ten (10) years each (each, an &#8220;Extension Term&#8221;), pursuant to the terms and conditions of this Lease then in effect. Section 3.03. Notice of Exercise. Lessee may only exercise the Extension Options by giving written notice thereof to Lessor of its election to do so no later than one hundred twenty (120) days prior to the expiration of the then-current Lease Term. If written notice of the exercise of any Extension Option is not received by Lessor by the applicable dates described above, then this Lease shall terminate on the last day of the Initial Term or, if applicable, the last day of the Extension Term then in effect. Upon the request of Lessor or Lessee, the parti