TERM LOAN AGREEMENT Dated as of August 24, 2015 Among EMPIRE STATE REALTY OP, L.P., as Borrower, EMPIRE STATE REALTY TRUST, INC., WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, The Lenders Party Hereto, CAPITAL ONE, NATIONAL...Term Loan Agreement • August 25th, 2015 • Empire State Realty OP, L.P. • Real estate investment trusts • New York
Any increase or decrease in the Leverage-Based Applicable Rate resulting from a change in the ratio of Total Indebtedness to Total Asset Value shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(a); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then Pricing Level V shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall remain in effect until the date on which such Compliance Certificate is delivered.
