EXHIBIT 10.58
FIRST AMENDMENT TO CREDIT AGREEMENT
THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is made as of
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July l, 1997, by and among XXXXXX REALTY, L.P. ("Borrower"), having an address
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of 0000 Xxxx Xxxxxxxx Xxxxxxx, Xxxxx 0000, Xx Xxxxxxx, Xxxxxxxxxx 00000, XXXXXX
GUARANTY TRUST COMPANY OF NEW YORK, as Bank and as Lead Agent for the Banks,
having an address of 00 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000-0000 ("Agent"),
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and the BANKS.
RECITALS:
A. WHEREAS, Borrower, Agent and the Banks entered into a Credit Agreement,
dated as of January 31, 1997 (the "Credit Agreement"). Capitalized terms used
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but not otherwise defined herein shall have the meanings ascribed thereto in the
Credit Agreement; and
B. WHEREAS, Borrower, Agent and the Banks wish to amend the Credit
Agreement upon the terms and conditions set forth herein.
NOW THEREFORE, in consideration of the foregoing, the terms and conditions
contained herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Borrower, Agent and the Banks
hereby agree to amend the Credit Agreement as follows:
1. Extension Option. The parties hereby confirm that Borrower has exercised
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the first of its two Extension Options pursuant to Section 2.8 of the Credit
Agreement, and agree that the Term of the Commitments has been extended to
January 31, 1998. Agent also confirms that Borrower has paid the Extension Fee
as required in Section 2.8 of the Credit Agreement.
2. Amendment. Section 2.6(b) of the Credit Agreement shall be amended by
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deleting the first paragraph thereof and substituting the following paragraph in
lieu thereof:
"(b) Each Euro-Dollar Loan shall bear interest on the outstanding
principal amount thereof, for each day during the Interest Period applicable
thereto, at a rate per annum equal to the sum of 150 basis points (1.50%)
plus the Adjusted London Interbank Offered Rate applicable to such Interest
Period. Such interest shall be payable for each Interest Period on the last day
thereof."
3. Ratification. Borrower hereby adopts, ratifies and confirms in all
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respects the Credit Agreement (as modified by this Amendment), the Note, the
Variable Interest Rate Indenture of Mortgage, Financing Statement, Fixture
Filing and Assignment of Leases and Rents and the other Loan Documents, in each
instance.
4. Counterparts. This Amendment may be executed in any number of
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counterparts, all of which taken together shall constitute but one and the same
instrument and any of the parties hereto may execute this Amendment by signing
any such counterpart.
5. No Other Modifications. Except as expressly amended hereby, the Credit
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Agreement shall continue unmodified and remain in full force and effect.
2
IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed by their respective authorized officers as of the
day and year first above written.
XXXXXX REALTY, L.P., a Delaware limited
partnership
By: Xxxxxx Realty Corporation, a
Maryland corporation, its sole
general partner
/s/ Xxxxx X. Xxxx
By: _______________________________
Name: Xxxxx X. Xxxx
Title: Senior Vice President
and Treasurer
XXXXXX GUARANTY TRUST COMPANY OF NEW YORK,
a New York banking corporation
/s/ Xxxxxxxxx Xxxxxxxxxx
By: _______________________________________
Name: Xxxxxxxxx Xxxxxxxxxx
Title: Vice President
XXXXXX GUARANTY TRUST COMPANY OF NEW YORK,
a New York banking corporation,
as Lead Agent
/s/ Xxxxxxx Xxx Xxxxxx
By: _____________________________________
Name: Xxxxxxx Xxx Xxxxxx
Title: Vice President
