FOURTH AMENDMENT TO AMENDED AND RESTATED LEASE AGREEMENT NO. 3
FOURTH AMENDMENT TO
AMENDED AND RESTATED LEASE AGREEMENT NO. 3
THIS FOURTH AMENDMENT TO AMENDED AND RESTATED LEASE AGREEMENT NO. 3 (this “Amendment”) is made and entered into as of January 23, 2019, by and between HPT TA PROPERTIES TRUST, a Maryland real estate investment trust, and HPT TA PROPERTIES LLC, a Maryland limited liability company, as landlord (collectively, “Landlord”), and TA OPERATING LLC, a Delaware limited liability company, as tenant (“Tenant”).
W I T N E S S E T H:
WHEREAS, Landlord and Tenant are parties to that certain Amended and Restated Lease Agreement No. 3, dated as of June 9, 2015, as amended by that certain First Amendment to Amended and Restated Lease Agreement No. 3, dated as of September 23, 2015, that certain Second Amendment to Amended and Restated Lease Agreement No. 3, dated as of June 22, 2016, and that certain Third Amendment to Lease Agreement No. 3, dated as of January 17, 2019 (as so amended, the “Lease”);
WHEREAS, HPT TA Properties Trust is selling to Tenant, and Tenant is acquiring from HPT TA Properties Trust, the Property (this and other capitalized terms used and not otherwise defined in this Amendment shall have the meanings given such terms in the Lease) related to the Travel Center located at 0000 Xxxxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxxx 00000 (the “Sold Property”);
WHEREAS, Landlord and Tenant wish to amend the Lease to remove the Sold Property and to reflect a corresponding reduction in Minimum Rent; and
WHEREAS, Guarantor is executing this Amendment solely to confirm the continuation of the Guaranty with respect to the Lease (as amended by this Amendment);
NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree, as of the date of this Amendment, as follows:
1. Sold Property. The Leased Property shall exclude the Sold Property, but notwithstanding the foregoing, Tenant shall retain all of its obligations with respect to the Sold Property which are attributable to events occurring on or prior to the date hereof or which are addressed pursuant to Section 9.5 of the Lease (as if the Sold Property remained a Property for the remainder of the Term). In furtherance of the foregoing, however, Tenant shall have no obligation to comply with Section 5.3 of the Lease solely with respect to the Sold Property.
2. Minimum Rent. The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:
“Minimum Rent” shall mean Forty-Two Million Four Hundred Four Thousand Eighteen and 00/100ths Dollars ($42,404,018.00), subject to adjustment as provided in Section 3.1.1(b).
3. Exhibit A. Exhibit A to the Lease is hereby amended by (a) deleting the initial page entitled “EXHIBITS A-1 through A-42” therefrom in its entirety and replacing it with the page entitled “EXHIBITS A-1 through A-42” attached hereto and (b) deleting the legal description for the Sold Property from Exhibit A-31 to the Lease and replacing it with “Intentionally deleted”.
4. Ratification. As amended hereby, the Lease is hereby ratified and confirmed and remains in full force and effect.
5. Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
IN WITNESS WHEREOF, Landlord and Tenant have caused this Amendment to be duly executed, as a sealed instrument, as of the date first above written.
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LANDLORD: | |
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HPT TA PROPERTIES TRUST, | |
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a Maryland real estate investment trust | |
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By: |
/s/ Xxxx X. Xxxxxx |
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Xxxx X. Xxxxxx |
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President |
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HPT TA PROPERTIES LLC, | |
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a Maryland limited liability company | |
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By: |
/s/ Xxxx X. Xxxxxx |
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Xxxx X. Xxxxxx |
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President |
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TENANT: | |
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TA OPERATING LLC, | |
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a Delaware limited liability company | |
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By: |
/s/ Xxxx X. Xxxxx |
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Xxxx X. Xxxxx |
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Executive Vice President |
[Signature Page to Fourth Amendment to Amended and Restated Lease Agreement No. 3]
Reference is made to that certain Guaranty Agreement, dated as of June 9, 2015, given by TRAVELCENTERS OF AMERICA LLC and TRAVELCENTERS OF AMERICA HOLDING COMPANY LLC, each a Delaware limited liability company (collectively, “Guarantors”), to Landlord with respect to Tenant’s obligations under the Lease (the “Guaranty”). Guarantors hereby confirm that all references in such Guaranty to the word “Lease” shall mean the Lease, as defined therein, as amended by this Amendment (and any prior amendments referenced in this Amendment), and said Guarantors hereby reaffirm the Guaranty.
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GUARANTORS: | |
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TRAVELCENTERS OF AMERICA LLC, | |
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a Delaware limited liability company | |
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By: |
/s/ Xxxx X. Xxxxx |
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Xxxx X. Xxxxx |
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Executive Vice President |
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TRAVELCENTERS OF AMERICA HOLDING COMPANY LLC, a Delaware limited liability company | |
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By: |
/s/ Xxxx X. Xxxxx |
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Xxxx X. Xxxxx |
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Executive Vice President |
[Joinder Page to Fourth Amendment to Amended and Restated Lease Agreement No. 3]
EXHIBITS A-1 through A-42
Land
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Exhibit |
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TA |
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Property Address |
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Initial |
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X-0 |
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0000 Xxxxxxxxxx Xxxx, Xxxxxxxxxx (Tuscaloosa), AL 35453 |
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2015 |
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A-2 |
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Intentionally deleted |
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A-3 |
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Intentionally deleted |
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A-4 |
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26 |
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0000 Xxxx Xxxxxx Xxxx, Xxxxxxx, XX 00000 |
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2015 |
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A-5 |
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228 |
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0000 Xxxxx Xxxxxx, Xxxxx, XX 00000 |
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2015 |
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A-6 |
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154 |
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0000 Xxxxxxx-Xxxxxxxxx Xxxxxxxx, Xxxxxxxx, XX 00000 |
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0000 |
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X-0 |
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000 |
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X.X. Xxx 000, Xxxxxxx, XX 00000 |
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2015 |
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A-8 |
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258 |
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0000 XX Xxxxxxx 00 Xxxxx, Xxxxxxxxx, XX 00000 |
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2015 |
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A-9 |
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Intentionally deleted |
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A-10 |
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92 |
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000 Xxxxxxxx Xxxx X.X. #0, Xxxxxxxxxxx, XX 00000 |
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2015 |
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A-11 |
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35 |
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0000 Xxxx Xxxxxxxxx, Xxxxxxxxx, XX 00000 |
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2015 |
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A-12 |
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Intentionally deleted |
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A-13 |
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173 |
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0000 X. Xxxxx Xxxx 000, Xxxxxxxxxx, XX 00000 |
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2015 |
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A-14 |
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93 |
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0000 Xxxxxxxxxx Xxxx, Xxxxxxxx, XX 00000 |
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2015 |
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A-15 |
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161 |
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0000 X. Xxxxxxxxxx Xxxxxx, Xxxxxxxxx, XX 00000 |
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2015 |
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A-16 |
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216 |
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5501 O’Xxxxxxx Xx. Xxxxxx, Xxxxxxxxx, XX 00000 |
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2015 |
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A-17 |
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Intentionally deleted |
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A-18 |
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116 |
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0000 Xxxxxx Xxxx, Xxxxxx, XX 00000 |
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2015 |
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A-19 |
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51 |
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000 Xxxxx Xxxxxxx 00, Xxxxxxxx, XX 00000 |
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2015 |
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A-20 |
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181 |
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0000 X. Xxxxxxxx Xxxx, Xxxx Xxxx, XX 00000 |
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2015 |
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X-00 |
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000 |
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Xxxxxxxxxxxxx deleted |
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A-22 |
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229 |
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0000 X.X. Xxxxx 00 Xxxx, Xxxxxxxx, XX 00000 |
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2015 |
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A-23 |
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210 |
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000 Xxxxxxxxx Xxxx, Xxxxxxxxxx (Xxxxxxxx), XX 00000 |
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2015 |
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A-24 |
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11 |
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0000 Xx. Xx. 000, Xxxxx (Xxxxxx), XX 00000 |
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2015 |
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A-25 |
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87 |
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0000 Xxxxxx Xxxx, Xxxxxxxxxx (Xxxxxx), XX 00000 |
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2015 |
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A-26 |
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36 |
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000 Xxxxx Xxxxxxx Xxxx, Xxxxxxxx Xxxx (Xxxx), XX 00000 |
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2015 |
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A-27 |
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183 |
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000 XX Xxxxxxxx Xxxx, Xxxxxxxxx, XX 00000 |
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2015 |
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A-28 |
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213 |
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00000 Xxxx Xxxxx Xxxxx, Xxxxxxxxxxx, XX 00000 |
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2015 |
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A-29 |
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214 |
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000 X. Xxxxx Xxxxxx Xx., Xxxxxxxxx, XX 00000 |
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2015 |
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A-30 |
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25 |
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0000 X. Xxxx Xxxxxx, Xxxxxx (Xxxxxxxxxxx), XX 00000 |
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2015 |
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A-31 |
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Intentionally deleted |
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A-32 |
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55 |
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0000 X-00 Xxxx Xxxxxxxx Xxxx, Xxxxxxxx, XX 00000 |
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2015 |
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A-33 |
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235 |
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0000 X. Xxxxxxxxxx 000, Xxxxxxxx, XX 00000 |
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2015 |
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A-34 |
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233 |
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0000 Xxxxxx Xxxx, Xxxxxxx, XX 00000 |
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2015 |
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A-35 |
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186 |
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0000 Xxxxx 000 Xxxx, Xxxxxxx, XX 00000 |
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2015 |
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A-36 |
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142 |
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00000 Xxxxxxx Xx., Xxxxxxx, XX 00000 |
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2015 |
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A-37 |
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50 |
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0000 Xxxxxxx 00, XxXxxxxx (Xxxxxxx), XX 00000 |
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2015 |
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A-38 |
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234 |
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0000 Xxxxxx Xxxx., Xxxxxxx, XX 00000 |
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2015 |
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A-39 |
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376 |
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0000 Xxxx Xxxxx Xxxx 00, Xxxxxx, XX 00000 |
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2017 |
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A-40 |
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701 |
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000 XX 000 Xxxx, Xxxxxxx, XX |
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2015 |
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A-41 |
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238 |
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0000-0000 Xxxxxxxx Xxxx., Xxxxxxxx, XX |
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2020 |
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A-42 |
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000 |
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000 Xxxxx Xxxxxxx 00, Xxxxxxxxx, XX |
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0000 |
[See attached copies.]
Exhibits A-1 - A-42
