FOURTH MODIFICATION OF AMENDED AND RESTATED SECURED REVOLVING LINE OF CREDIT AND SECURITY AGREEMENT AND OTHER LOAN DOCUMENTS
FOURTH MODIFICATION OF AMENDED AND RESTATED
SECURED REVOLVING LINE OF CREDIT AND SECURITY
AGREEMENT AND OTHER LOAN DOCUMENTS
THIS FOURTH MODIFICATION OF AMENDED AND RESTATED SECURED REVOLVING LINE OF CREDIT AND SECURITY AGREEMENT AND OTHER LOAN DOCUMENTS (the “Modification”) is effective as of the 1st day of July, 2001, by and between COMMERCIAL NET LEASE REALTY, INC., a Maryland corporation (“Lender”), whose address is 000 Xxxxx Xxxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxx 00000, and COMMERCIAL NET LEASE REALTY SERVICES, INC., a Maryland corporation (“Borrower”), whose address is 000 Xxxxx Xxxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxx 00000;
W I T N E S S E T H:
WHEREAS, Borrower is indebted to Lender as evidenced by that certain
Replacement Promissory Note by Borrower in favor of Lender, in the original
principal amount of THIRTY MILLION AND NO/100 DOLLARS ($30,000,000.00),
effective as of May 1, 1999, as such debt was renewed and increased under that
certain Renewal Promissory Note, in the original principal amount of FIFTY
MILLION AND NO/100 DOLLARS ($50,000,000.00), effective as of April 1, 2000, and
further renewed and increased under that certain Second Renewal Promissory Note,
in the original principal amount of SIXTY FIVE MILLION AND NO/100 DOLLARS
($65,000,000.00), effective as of October 1, 2000, and that certain Third
Renewal Promissory Note, in the principal amount of EIGHTY FIVE MILLION AND
NO/100 DOLLARS ($85,000,000.00), effective as of April 1, 2001 (the “Third
Renewal Note”), and otherwise, pursuant to that certain Amended and
Restated Secured Revolving Line of Credit and Security Agreement, effective as
of May 1, 1999, as modified by that certain Modification of Amended and Restated
Secured Revolving Line of Credit and Security Agreement and Other Loan
Documents, effective as of April 1, 2000, and that certain Second Modification
of Amended and Restated Secured Revolving Line of Credit and Security Agreement
and Other Loan Documents, effective as of October 1, 2000, and that certain
Third Modification of Amended and Restated Secured Revolving Line of Credit and
Security Agreement and Other Loan Documents, effective as of April 1, 2001
(collectively, the “Agreement”);
WHEREAS,
the Third Renewal Note is secured by certain properties of Borrower under
certain other Loan Documents, as defined under the Agreement (the “Loan
Documents”); and
WHEREAS,
Borrower and Lender have agreed to modify the Agreement and the Loan Documents
upon the terms and conditions hereinafter set forth.
NOW
THEREFORE, in consideration of the premises hereof, and the mutual covenants
contained herein, and of the sum of TEN AND NO/100 DOLLARS ($10.00) in hand paid
by Borrower to Lender, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:
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1. Recitals. All of the
foregoing recitations are true and correct and are hereby incorporated herein
and made a part hereof.
2. Maturity Date. The
Revolving Credit Maturity Date as defined under Section 1.1 of the Agreement is
hereby changed to October 31, 2003.
3. Miscellaneous. Except
as expressly set forth by this Modification, the Agreement and the Loan
Documents shall remain in full force and effect, in strict accordance with the
terms thereof. The Agreement, as modified by this Modification, shall bind and
inure to the benefit of, the representatives, successors and assigns of the
parties of this Modification.
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IN WITNESS WHEREOF, the parties to this Modification have executed this Modification in a manner and form sufficient to bind them as of the day and year first above written.
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COMMERCIAL NET LEASE REALTY, INC., a Maryland corporation By: ______________________________ Xxxxx X. Xxxxxxx, Executive Vice President
(Corporate Seal) | |
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COMMERCIAL NET LEASE REALTY, SERVICES, INC., a Maryland corporation By: ______________________________ Xxxxx X. Xxxxxxx, Executive Vice President
(Corporate Seal) |
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STATE OF _________________
COUNTY OF _______________
The foregoing Fourth Modification of Amended and Restated Secured Revolving Line of Credit and Security Agreement and Other Loan Documents, effective as of July 1, 2001, by and between Commercial Net Lease Realty Services, Inc., a Maryland corporation and Commercial Net Lease Realty, Inc., a Maryland corporation (“CNLR”)was acknowledged before me this _____ day of __________, 2001, by Xxxxx X. Xxxxxxx, as Executive Vice President of CNLR, who is personally known to me.
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NOTARY PUBLIC Print Name: ______________________________ Commission No.:__________________________ My Commission Expires:____________________ |
STATE OF _________________
COUNTY OF _______________
The foregoing Fourth Modification of Amended and Restated Secured Revolving Line of Credit and Security Agreement and Other Loan Documents, effective as of July 1, 2001, by and between Commercial Net Lease Realty Services, Inc., a Maryland corporation (“CNLRS”) and Commercial Net Lease Realty, Inc., a Maryland corporation was acknowledged before me this _____ day of __________, 2001, by Xxxxx X. Xxxxxxx, as Executive Vice President of CNLRS, who is personally known to me or who has produced ________________________________ as identification.
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NOTARY PUBLIC Print Name: ______________________________ Commission No.:__________________________ My Commission Expires:____________________ |
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