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Document Preview Loan and Security Agreement |
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Title: |
Loan and Security Agreement |
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Entities: |
American Financial Realty Trust; Barnett Banks Inc.; Beard Co.; Chicago Title Insurance Co.; Deutsche Bank Securities Inc.; Environmental Remediation Holding Corp.; First Union National Bank; McGraw-Hill Companies Inc.; Midland Loan Services, Inc.; PNC Bank, NA; Bank of America, NA; Morgan, Lewis & Bockius; Skadden, Arps, Slate, Meagher & Flom LLP |
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Date: |
2004 |
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Size: |
Preview shows 75KB of 564KB total |
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Price: |
$65 |
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ID: |
#334500 |
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Start of Preview |
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AMENDED AND RESTATED
LOAN AND SECURITY AGREEMENT
Dated as of October 1, 2003
Between
FIRST STATES INVESTORS 5000A, LLC
as Borrower
and
GERMAN AMERICAN CAPITAL CORPORATION,
as Lender
TABLE OF CONTENTS
| Page | ||||||
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I. |
DEFINITIONS; PRINCIPLES OF CONSTRUCTION |
1 | ||||
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Section 1.1 |
Definitions |
1 | ||||
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Section 1.2 |
Principles of Construction |
24 | ||||
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II. |
GENERAL TERMS |
24 | ||||
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Section 2.1 |
Loan; Disbursement to Borrower |
24 | ||||
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Section 2.2 |
Interest; Loan Payments; Late Payment Charge |
25 | ||||
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Section 2.3 |
Prepayments |
26 | ||||
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Section 2.4 |
Regulatory Change; Taxes |
27 | ||||
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Section 2.5 |
Conditions Precedent to Closing |
28 | ||||
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III. |
CASH MANAGEMENT |
32 | ||||
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Section 3.1 |
Cash Management |
32 | ||||
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IV. |
REPRESENTATIONS AND WARRANTIES |
41 | ||||
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Section 4.1 |
Borrower Representations |
41 | ||||
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Section 4.2 |
Survival of Representations |
51 | ||||
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V. |
BORROWER COVENANTS |
51 | ||||
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Section 5.1 |
Affirmative Covenants |
51 | ||||
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Section 5.2 |
Negative Covenants |
58 | ||||
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VI. |
INSURANCE; CASUALTY; CONDEMNATION; RESTORATION |
61 | ||||
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Section 6.1 |
Insurance Coverage Requirements |
61 | ||||
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Section 6.2 |
Condemnation and Insurance Proceeds |
65 | ||||
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VII. |
IMPOSITIONS, OTHER CHARGES, LIENS AND OTHER ITEMS |
70 | ||||
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Section 7.1 |
Borrower to Pay Impositions and Other Charges |
70 | ||||
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Section 7.2 |
No Liens |
71 | ||||
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Section 7.3 |
Contest |
71 | ||||
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VIII. |
TRANSFERS, INDEBTEDNESS AND SUBORDINATE LIENS |
72 | ||||
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Section 8.1 |
Restrictions on Transfers |
72 | ||||
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Section 8.2 |
Sale of Building Equipment |
72 | ||||
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Section 8.3 |
Immaterial Transfers and Easements, etc. |
72 | ||||
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Section 8.4 |
Indebtedness |
73 | ||||
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Section 8.5 |
Permitted Interest Transfers |
73 | ||||
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Section 8.6 |
Deliveries to Lender |
74 | ||||
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Section 8.7 |
Release of Properties |
74 | ||||
i
| Page | ||||||
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Section 8.8 |
Leases |
77 | ||||
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IX. |
DEFEASANCE |
81 | ||||
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Section 9.1 |
Defeasance and Release |
81 | ||||
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X. |
MAINTENANCE OF PROPERTY; ALTERATIONS |
84 | ||||
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Section 10.1 |
Maintenance of Property |
84 | ||||
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Section 10.2 |
Conditions to Alteration |
84 | ||||
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Section 10.3 |
Costs of Alteration |
85 | ||||
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XI. |
BOOKS AND RECORDS, FINANCIAL STATEMENTS, REPORTS AND OTHER INFORMATION |
86 | ||||
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Section 11.1 |
Books and Records |
86 | ||||
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Section 11.2 |
Financial Statements |
86 | ||||
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XII. |
ENVIRONMENTAL MATTERS |
88 | ||||
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Section 12.1 |
Representations |
88 | ||||
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Section 12.2 |
Covenants |
89 | ||||
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Section 12.3 |
Environmental Reports |
90 | ||||
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Section 12.4 |
Environmental Indemnification |
90 | ||||
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Section 12.5 |
Recourse Nature of Certain Indemnifications |
91 | ||||
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XIII. |
THE GROUND LEASES |
91 | ||||
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Section 13.1 |
Leasehold Representations, Warranties |
91 | ||||
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Section 13.2 |
Cure by Lender |
92 | ||||
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Section 13.3 |
Option to Renew or Extend the Ground Leases |
92 | ||||
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Section 13.4 |
Ground Lease Covenants |
92 | ||||
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Section 13.5 |
Lender Right to Participate |
95 | ||||
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Section 13.6 |
No Liability |
95 | ||||
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XIV. |
SECURITIZATION AND PARTICIPATION |
95 | ||||
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Section 14.1 |
Sale of Note and Securitization |
95 | ||||
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Section 14.2 |
Cooperation |
96 | ||||
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Section 14.3 |
Securitization Financial Statements |
96 | ||||
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Section 14.4 |
Securitization Indemnification |
96 | ||||
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Section 14.5 |
Retention of Servicer |
99 | ||||
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XV. |
ASSIGNMENTS AND PARTICIPATIONS |
99 | ||||
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Section 15.1 |
Assignment and Acceptance |
99 | ||||
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Section 15.2 |
Effect of Assignment and Acceptance |
99 | ||||
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Section 15.3 |
Content |
100 | ||||
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Section 15.4 |
Register |
100 | ||||
ii
| Page | ||||||
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Section 15.5 |
Substitute Notes |
100 | ||||
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Section 15.6 |
Participations |
101 | ||||
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Section 15.7 |
Disclosure of Information |
101 | ||||
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Section 15.8 |
Security Interest in Favor of Federal Reserve Bank |
102 | ||||
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XVI. |
RESERVE ACCOUNTS |
102 | ||||
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Section 16.1 |
Tax Reserve Account |
102 | ||||
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Section 16.2 |
Insurance Reserve Account |
103 | ||||
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Section 16.3 |
Structural Reserve Account |
103 | ||||
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Section 16.4 |
TI and Leasing Reserve Account |
104 | ||||
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Section 16.5 |
Deferred Maintenance and Environmental Remediation. |
106 | ||||
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Section 16.6 |
BofA Reserve Account. |
107 | ||||
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XVII. |
DEFAULTS |
108 | ||||
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Section 17.1 |
Event of Default |
108 | ||||
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Section 17.2 |
Remedies |
111 | ||||
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Section 17.3 |
Remedies Cumulative; Waivers |
113 | ||||
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Section 17.4 |
Costs of Collection |
113 | ||||
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XVIII. |
SPECIAL PROVISIONS |
113 | ||||
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Section 18.1 |
Exculpation |
113 | ||||
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XIX. |
MISCELLANEOUS |
113 | ||||
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Section 19.1 |
Survival |
113 | ||||
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Section 19.2 |
Lenders Discretion |
114 | ||||
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Section 19.3 |
Governing Law |
114 | ||||
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Section 19.4 |
Modification, Waiver in Writing |
115 | ||||
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Section 19.5 |
Delay Not a Waiver |
115 | ||||
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Section 19.6 |
Notices |
116 | ||||
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Section 19.7 |
TRIAL BY JURY |
118 | ||||
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Section 19.8 |
Headings |
118 | ||||
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Section 19.9 |
Severability |
118 | ||||
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Section 19.10 |
Preferences |
118 | ||||
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Section 19.11 |
Waiver of Notice |
119 | ||||
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Section 19.12 |
Expenses; Indemnity |
119 | ||||
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Section 19.13 |
Exhibits and Schedules Incorporated |
121 | ||||
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Section 19.14 |
Offsets, Counterclaims and Defenses |
121 | ||||
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Section 19.15 |
Liability of Assignees of Lender |
121 | ||||
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Section 19.16 |
No Joint Venture or Partnership; No Third Party Beneficiaries |
122 | ||||
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Section 19.17 |
Publicity |
122 | ||||
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Section 19.18 |
Waiver of Marshalling of Assets |
122 | ||||
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Section 19.19 |
Waiver of Counterclaim and other Actions |
123 | ||||
iii
| Page | ||||||
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Section 19.20 |
Conflict; Construction of Documents; Reliance |
123 | ||||
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Section 19.21 |
Prior Agreements |
123 | ||||
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Section 19.22 |
Counterparts |
123 |
iv
EXHIBITS AND SCHEDULES
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EXHIBIT A |
TITLE INSURANCE REQUIREMENTS, ENDORSEMENTS AND AFFIRMATIVE COVERAGES | |
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EXHIBIT B |
SURVEY REQUIREMENTS | |
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EXHIBIT C |
SINGLE PURPOSE ENTITY PROVISIONS | |
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EXHIBIT D |
ENFORCEABILITY OPINION REQUIREMENTS | |
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EXHIBIT E |
NON-CONSOLIDATION OPINION REQUIREMENTS | |
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EXHIBIT F |
[INTENTIONALLY OMITTED] | |
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EXHIBIT G |
FORM OF TENANT ESTOPPEL LETTER | |
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EXHIBIT H |
FORM OF GROUND LEASE ESTOPPEL | |
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EXHIBIT I |
FORM OF REA ESTOPPEL | |
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EXHIBIT J |
[INTENTIONALLY OMITTED] | |
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EXHIBIT K |
BORROWER ORGANIZATIONAL STRUCTURE | |
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EXHIBIT L |
[INTENTIONALLY OMITTED] | |
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EXHIBIT M |
FORM OF ASSIGNMENT AND ACCEPTANCE AGREEMENT | |
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EXHIBIT N |
FORM OF SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT | |
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EXHIBIT O |
O&M PROGRAM | |
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EXHIBIT P |
FORM OF TENANT NOTIFICATION LETTER | |
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EXHIBIT Q |
[INTENTIONALLY OMITTED] | |
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EXHIBIT R |
[INTENTIONALLY OMITTED] | |
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EXHIBIT S |
[INTENTIONALLY OMITTED] | |
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