SEC Contract Filing

Filing Date: 2022-01-24

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d293121dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LIBOR TRANSITION AMENDMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS <B>LIBOR TRANSITION AMENDMENT </B>(this &#147;<B><I>Agreement</I></B>&#148;), dated as of January&nbsp;21, 2022 (the
&#147;<B><I>Amendment Effective Date</I></B>&#148;), is entered into among <B>INVESCO REIT OPERATING PARTNERSHIP LP</B>, a Delaware limited partnership (&#147;<B><I>Borrower</I></B>&#148;), <B>INVESCO REAL ESTATE INCOME TRUST INC.</B>, a Maryland
corporation (&#147;<B><I>Parent</I></B>&#148;), and the Subsidiary Guarantors party hereto, as guarantors (&#147;<B><I>Guarantors</I></B>&#148; and together with Borrower and Parent, the &#147;<B><I>Loan Parties</I></B>&#148;), <B>BANK OF AMERICA,
N.A.</B>, as Administrative Agent (&#147;<B><I>Administrative Agent</I></B>&#148;), L/C Issuer and a Lender. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Loan Parties, Administrative Agent and certain Lenders have entered into that certain Revolving Credit Agreement dated as
of January&nbsp;22, 2021, as amended by that certain Waiver and First Amendment to Revolving Credit Agreement dated as of March&nbsp;25, 2021 (as the same may be further amended, modified, supplemented, or restated from time to time, the
&#147;<B><I>Credit Agreement</I></B>&#148;); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, certain loans and/or other extensions of credit (the
&#147;<B><I>Loans</I></B>&#148;) under the Credit Agreement incur or are permitted to incur interest, fees, commissions or other amounts based on the London Interbank Offered Rate as administered by the ICE Benchmark Administration
(&#147;<B><I>LIBOR</I></B>&#148;) in accordance with the terms of the Credit Agreement; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, applicable parties under the
Credit Agreement have determined in accordance with the Credit Agreement that LIBOR should be replaced with a successor rate in accordance with the Credit Agreement and, in connection therewith, Administrative Agent has determined that certain
conforming changes are necessary or advisable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW</B>, <B>THEREFORE</B>, in consideration of the premises and the mutual covenants
contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;<B>Defined Terms</B>. Capitalized terms used herein but not otherwise defined herein (including on any Exhibit attached hereto) shall
have the meanings provided to such terms in the Credit Agreement, as amended by this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;<B>Agreement</B>.
Notwithstanding any provision of the Credit Agreement or any other Loan Document to the contrary, the parties hereto hereby agree that the terms set forth on <B><I>Exhibit A </I></B>shall apply to all Loans. For the avoidance of doubt, to the extent
provisions in the Credit Agreement apply to the Loans and such provisions are not specifically addressed by <B><I>Exhibit A</I></B>, the provisions in the Credit Agreement shall continue to apply to the Loans. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;<B>Conflict with Loan Documents</B>. In the event of any conflict between the terms of this Agreement and the terms of the Credit
Agreement or the other Loan Documents, the terms hereof shall control. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;<B>Conditions Precedent</B>. This Agreement shall become
effective upon receipt by Administrative Agent of counterparts of this Agreement, properly executed by the Loan Parties and Administrative Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;<B>Payment of Expenses</B>. Borrower agrees to reimburse Administrative Agent for all reasonable fees, charges and disbursements of
Administrative Agent in connection with the preparation, execution and delivery of this Agreement, including all reasonable fees, charges and disbursements of counsel to Administrative Agent (paid directly to such counsel if requested by
Administrative Agent). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6.<B>&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;The Loan Documents, and the obligations of the Loan Parties under the Loan Documents, are hereby ratified and
con