SECOND AMENDED AND RESTATED CREDIT AGREEMENT Dated as of July 5, 2022 by and among LXP INDUSTRIAL TRUST, as Borrower, THE FINANCIAL INSTITUTIONS INITIALLY SIGNATORY HERETO AND THEIR ASSIGNEES PURSUANT TO SECTION 12.5, as Lenders, and KEYBANK NATIONAL...Credit Agreement • July 11th, 2022 • LXP Industrial Trust • Real estate investment trusts • New York
Notwithstanding the Debt Ratings set forth in foregoing table, if: (i)(x) the Leverage Ratio as of the last day of the most recently ending fiscal quarter of the Borrower is less than 32.5% and (y) the Fixed Charge Coverage Ratio as of the last day of the most recently ending fiscal quarter of the Borrower is greater than 4.00 to 1.00, and (ii) (x) the Borrower shall have a Debt Rating from at least two of S&P, Moody’s and Fitch, (y) one or more of such Debt Ratings shall correspond to Pricing Level 3 (e.g., BBB or Baa2), and (z) none of such Debt Ratings shall be below Pricing Level 4 (i.e. below BBB- or Baa3), the Applicable Margin shall be determined in accordance with Pricing Level 2. For the avoidance of doubt, the Borrower may qualify for pricing at Pricing Level 1 or 2 based solely upon its Debt Rating even if it does not meet the conditions described in clause (i) of the first sentence of this paragraph. Any increase or decrease in the Applicable Margin set forth in the foregoi
