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Title: |
Loan Agreement |
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Entities: |
American Financial Realty Trust; Chicago Title Insurance Co.; Deutsche Bank Securities Inc.; Environmental Remediation Holding Corp.; Federal National Mortgage Association |
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Date: |
2004 |
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Size: |
Preview shows 41KB of 358KB total |
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Price: |
$53 |
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ID: |
#334499 |
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Start of Preview |
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LOAN AGREEMENT
Dated as of July 18, 2003
by and among
FIRST STATES INVESTORS DB I, LLC
as Holding Company Borrower
(and each Property-Owning Borrower that
joins the Loan Agreement from time to time)
Collectively as Borrower,
DEUTSCHE BANK AG, CAYMAN ISLANDS BRANCH
as Agent,
LASALLE BANK NATIONAL ASSOCIATION
as Collateral Agent
and
Each Lender Signatory hereto
TABLE OF CONTENTS
| Page | ||||
|
ARTICLE I. CERTAIN DEFINITIONS |
2 | |||
|
Section 1.1. |
Definitions. |
2 | ||
|
ARTICLE II. CONDITIONS PRECEDENT |
24 | |||
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Section 2.1. |
Conditions Precedent to Closing |
24 | ||
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Section 2.2. |
Execution and Delivery of Agreement. |
25 | ||
|
Section 2.3. |
Advance Procedure |
25 | ||
|
Section 2.4. |
Initial and Subsequent Advances |
29 | ||
|
ARTICLE III. GENERAL TERMS |
31 | |||
|
Section 3.1. |
The Loan. |
31 | ||
|
Section 3.2. |
Use of Proceeds. |
31 | ||
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Section 3.3. |
Security for the Loan. |
31 | ||
|
Section 3.4. |
Borrowers Note |
31 | ||
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Section 3.5. |
Repayment of Advances; Interest; Exit Fee. |
32 | ||
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Section 3.6. |
Voluntary Prepayment. |
32 | ||
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Section 3.7. |
Mandatory Prepayment; Capital Events; Certain Transfers. |
33 | ||
|
Section 3.8. |
Application of Payments After Event of Default. |
34 | ||
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Section 3.9. |
Method and Place of Payment From the Collection Account to Agent. |
34 | ||
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Section 3.10. |
Taxes. |
34 | ||
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Section 3.11. |
Release of Collateral. |
34 | ||
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Section 3.12. |
Central Cash Management. |
35 | ||
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Section 3.13. |
Reserve Account. |
39 | ||
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Section 3.14. |
Additional Provisions Relating to the Collection Account and the Reserve Account. |
42 | ||
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Section 3.15. |
Security Agreement. |
43 | ||
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Section 3.16. |
Real Estate Security Documents; Mortgage Recording Taxes. |
44 | ||
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Section 3.17. |
Taxes. |
45 | ||
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Section 3.18. |
General Collateral Agent Provisions. |
46 | ||
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Section 3.19. |
Indemnity |
48 | ||
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Section 3.20. |
Inability to Determine Interest Rate; Illegality. |
49 | ||
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Section 3.21. |
Requirements of Law. |
49 | ||
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ARTICLE IV. REPRESENTATIONS AND WARRANTIES |
50 | |||
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Section 4.1. |
Representations and Warranties as to Borrower |
50 | ||
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Section 4.2. |
Representations and Warranties as to Each Property. |
54 | ||
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Section 4.3. |
Survival of Representations. |
60 | ||
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ARTICLE V. AFFIRMATIVE COVENANTS |
60 | |||
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Section 5.1. |
Affirmative Covenants |
60 | ||
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ARTICLE VI. NEGATIVE COVENANTS |
82 | |||
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Section 6.1. |
Negative Covenants. |
82 | ||
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ARTICLE VII. EVENT OF DEFAULT |
84 | |||
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Section 7.1. |
Event of Default. |
84 | ||
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Section 7.2. |
Remedies. |
85 | ||
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Section 7.3. |
Remedies Cumulative. |
86 | ||
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Section 7.4. |
Curative Advances. |
86 | ||
i
| Page | ||||
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ARTICLE VIII. MISCELLANEOUS |
87 | |||
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Section 8.1. |
Survival. |
87 | ||
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Section 8.2. |
Agents Discretion. |
87 | ||
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Section 8.3. |
Governing Law. |
87 | ||
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Section 8.4. |
Modification, Waiver in Writing. |
88 | ||
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Section 8.5. |
Delay Not a Waiver. |
88 | ||
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Section 8.6. |
Notices. |
88 | ||
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Section 8.7. |
TRIAL BY JURY. |
88 | ||
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Section 8.8. |
Headings. |
88 | ||
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Section 8.9. |
Assignment. |
89 | ||
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Section 8.10. |
Severability. |
89 | ||
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Section 8.11. |
Preferences. |
89 | ||
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Section 8.12. |
Waiver of Notice. |
90 | ||
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Section 8.13. |
Failure to Consent. |
90 | ||
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Section 8.14. |
Schedules Incorporated. |
90 | ||
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Section 8.15. |
Offsets, Counterclaims and Defenses. |
90 | ||
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Section 8.16. |
No Joint Venture or Partnership. |
90 | ||
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Section 8.17. |
Waiver of Marshalling of Assets Defense. |
90 | ||
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Section 8.18. |
Waiver of Counterclaim. |
91 | ||
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Section 8.19. |
Conflict; Construction of Documents. |
91 | ||
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Section 8.20. |
Brokers and Financial Advisors. |
91 | ||
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Section 8.21. |
Counterparts. |
91 | ||
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Section 8.22. |
Estoppel Certificates. |
91 | ||
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Section 8.23. |
Payment of Expenses. |
91 | ||
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Section 8.24. |
Non-Recourse. |
92 | ||
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ARTICLE IX. THE AGENT |
94 | |||
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Section 9.1. |
Appointment, Powers and Immunities. |
94 | ||
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Section 9.2. |
Reliance by Agent. |
94 | ||
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Section 9.3. |
Defaults. |
94 | ||
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Section 9.4. |
Rights as a Lender. |
94 | ||
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Section 9.5. |
Indemnification. |
95 | ||
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Section 9.6. |
Non-Reliance on Agent and Other Lenders. |
95 | ||
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Section 9.7. |
Failure to Act. |
95 | ||
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Section 9.8. |
Resignation of Agent. |
95 | ||
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Section 9.9. |
Agency Fee. |
96 | ||
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Section 9.10. |
Consents under Loan Documents. |
96 | ||
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Section 9.11. |
Notices, Reports and Other Communications. |
96 | ||
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