as Borrower,
as Parent Guarantor,
as Subsidiary Guarantors,
as Initial Lenders, Initial Issuing Bank and Swing Line Bank
as Administrative Agent,
asJointLeadArrangers,
asSyndicationAgent,
U.S. BANK NATIONAL ASSOCIATION
as Co-Documentation Agents
Section | Page | |||
ARTICLE I DEFINITIONS AND ACCOUNTING TERMS | 2 | |||
SECTION 1.01. Certain Defined Terms | 2 | |||
SECTION 1.02. Computation of Time Periods; Other Definitional Provisions | 37 | |||
SECTION 1.03. Accounting Terms | 37 | |||
ARTICLE II AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT | 37 | |||
SECTION 2.01. The Advances and the Letters of Credit | 37 | |||
SECTION 2.02. Making the Advances | 38 | |||
SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit | 41 | |||
SECTION 2.04. Repayment of Advances | 42 | |||
SECTION 2.05. Termination or Reduction of the Revolving Credit Commitments | 44 | |||
SECTION 2.06. Prepayments | 44 | |||
SECTION 2.07. Interest | 45 | |||
SECTION 2.08. Fees | 46 | |||
SECTION 2.09. Conversion of Advances | 48 | |||
SECTION 2.10. Increased Costs, Etc | 49 | |||
SECTION 2.11. Payments and Computations | 50 | |||
SECTION 2.12. Taxes | 53 | |||
SECTION 2.13. Sharing of Payments, Etc. | 55 | |||
SECTION 2.14. Use of Proceeds | 56 | |||
SECTION 2.15. Evidence of Debt | 56 | |||
SECTION 2.16. Increase in the Aggregate Revolving Credit Commitments | 57 | |||
SECTION 2.17. Replacement of Lenders Under Certain Circumstances | 59 | |||
SECTION 2.18. Extension | 59 | |||
SECTION 2.19. Cash Collateral | 61 | |||
SECTION 2.20. Delinquent Lenders | 61 | |||
ARTICLE III CONDITIONS OF LENDING AND ISSUANCES OF LETTERS OF CREDIT | 64 | |||
SECTION 3.01. Conditions Precedent to Initial Extension of Credit | 64 | |||
SECTION 3.02. Conditions Precedent to Each Borrowing, Issuance, Renewal and Revolving Credit Commitment Increase | 67 | |||
SECTION 3.03. Determinations Under Section 3.01 | 67 | |||
ARTICLE IV REPRESENTATIONS AND WARRANTIES | 68 | |||
SECTION 4.01. Representations and Warranties of the Loan Parties | 68 | |||
ARTICLE V COVENANTS OF THE LOAN PARTIES | 77 | |||
SECTION 5.01. Affirmative Covenants | 77 |
-i-
Section | Page | |||
SECTION 5.02. Negative Covenants | 80 | |||
SECTION 5.03. Reporting Requirements | 88 | |||
SECTION 5.04. Financial Covenants | 92 | |||
ARTICLE VI EVENTS OF DEFAULT | 92 | |||
SECTION 6.01. Events of Default | 92 | |||
SECTION 6.02. Actions in Respect of the Letters of Credit upon Default | 95 | |||
ARTICLE VII GUARANTY | 96 | |||
SECTION 7.01. Guaranty; Limitation of Liability | 96 | |||
SECTION 7.02. Guaranty Absolute | 97 | |||
SECTION 7.03. Waivers and Acknowledgments | 98 | |||
SECTION 7.04. Subrogation | 98 | |||
SECTION 7.05. Guaranty Supplements | 99 | |||
SECTION 7.06. Indemnification by Guarantors | 99 | |||
SECTION 7.07. Subordination | 100 | |||
SECTION 7.08. Continuing Guaranty | 101 | |||
SECTION 7.09. Distribution of Guaranty Proceeds | 101 | |||
ARTICLE VIII THE ADMINISTRATIVE AGENT | 102 | |||
SECTION 8.01. Authorization and Action | 102 | |||
SECTION 8.02. Administrative Agents’ Reliance, Etc. | 104 | |||
SECTION 8.03. Administrative Agent and Affiliates | 104 | |||
SECTION 8.04. Lender Party Credit Decision | 104 | |||
SECTION 8.05. Indemnification by Lender Parties | 105 | |||
SECTION 8.06. Successor Administrative Agent | 106 | |||
SECTION 8.07. Payments | 106 | |||
ARTICLE IX MISCELLANEOUS | 107 | |||
SECTION 9.01. Amendments, Etc. | 107 | |||
SECTION 9.02. Notices, Etc. | 108 | |||
SECTION 9.03. No Waiver; Remedies | 109 | |||
SECTION 9.04. Costs and Expenses | 110 | |||
SECTION 9.05. Right of Set-off | 111 | |||
SECTION 9.06. Binding Effect | 112 | |||
SECTION 9.07. Assignments and Participations | 112 | |||
SECTION 9.08. Execution in Counterparts | 116 | |||
SECTION 9.09. No Liability of the Issuing Banks | 116 | |||
SECTION 9.10. Confidentiality | 116 | |||
SECTION 9.11. [Intentionally Omitted.] | 116 | |||
SECTION 9.12. Patriot Act Notification | 116 | |||
SECTION 9.13. Jurisdiction, Etc. | 117 | |||
SECTION 9.14. Governing Law | 117 | |||
SECTION 9.15. WAIVER OF JURY TRIAL | 117 |
-ii-
Schedule I | - | Commitments and Applicable Lending Offices | ||
Schedule II | - | Initial Borrowing Base Properties | ||
Schedule III | - | Reserved | ||
Schedule IV | - | On-Campus Participating Properties | ||
Schedule V | - | Existing Letters of Credit | ||
Schedule 4.01(b) | - | Subsidiaries | ||
Schedule 4.01(d) | - | Authorizations, Approvals, Actions, Notices and Filings | ||
Schedule 4.01(f) | - | Disclosed Litigation | ||
Schedule 4.01(n) | - | Surviving Debt | ||
Schedule 4.01(o) | - | Existing Liens | ||
Schedule 4.01(p) | - | Real Estate Assets | ||
Schedule 4.01(r) | - | Environmental Matters | ||
Schedule 4.01(x) | - | Plans and Welfare Plans | ||
Schedule 4.01(y) | - | Certain Condemnation Proceedings | ||
Schedule 4.01(bb) | - | Debt of On-Campus Participating Entities | ||
EXHIBITS | ||||
Exhibit A-1 | - | Form of Revolving Credit Note | ||
Exhibit A-2 | - | Form of Term Note | ||
Exhibit B | - | Form of Notice of Borrowing | ||
Exhibit C | - | Form of Notice of Issuance | ||
Exhibit D | - | Form of Guaranty Supplement | ||
Exhibit E | - | Form of Assignment and Acceptance | ||
Exhibit F | - | Form of Opinion of Counsel to the Loan Parties | ||
Exhibit G | - | Reserved | ||
Exhibit H | - | Form of Borrowing Base Certificate |
-iii-
DEFINITIONS AND ACCOUNTING TERMS
2
3
Applicable Margin | ||||||
Pricing | for Base Rate | Applicable Margin for | ||||
Level | Leverage Ratio | Advances | Eurodollar Rate Advances | |||
I | > 55% | 1.75% | 2.75% | |||
II | < 55% but > 50% | 1.50% | 2.50% | |||
III | < 50% but > 45% | 1.25% | 2.25% | |||
IV | < 45% | 1.00% | 2.00% |
4
Applicable Margin | ||||||
Pricing | for | Applicable Margin for | ||||
Level | Credit Rating Level | Base Rate Advances | Eurodollar Rate Advances | |||
I | Credit Rating Level 5 | 1.30% | 2.30% | |||
II | Credit Rating Level 4 | 0.90% | 1.90% | |||
III | Credit Rating Level 3 | 0.70% | 1.70% | |||
IV | Credit Rating Level 2 | 0.50% | 1.50% | |||
V | Credit Rating Level 1 | 0.25% | 1.25% |
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT
37
38
39
40
41
42
43
44
45
46
Credit Rating Level | Facility Fee Rate | |||
Credit Rating Level 1 | 0.20 | % | ||
Credit Rating Level 2 | 0.25 | % | ||
Credit Rating Level 3 | 0.30 | % | ||
Credit Rating Level 4 | 0.35 | % | ||
Credit Rating Level 5 | 0.40 | % |
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
CONDITIONS OF LENDING AND ISSUANCES OF LETTERS OF CREDIT
64
65
66
67
REPRESENTATIONS AND WARRANTIES
68
69
70
71
72
73
74
75
76
COVENANTS OF THE LOAN PARTIES
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
EVENTS OF DEFAULT
92
93
94
95
GUARANTY
96
97
98
99
100
101
THE ADMINISTRATIVE AGENT
102
103
104
105
106
MISCELLANEOUS
107
108
109
110
111
112
113
��
114
115
116
117
BORROWER: | ||||||||
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP LP | ||||||||
By: | AMERICAN CAMPUS COMMUNITIES | |||||||
HOLDINGS LLC, its general partner | ||||||||
By: | AMERICAN CAMPUS COMMUNITIES, INC., | |||||||
its sole member | ||||||||
By: | ||||||||
Name: | ||||||||
Title: |
GUARANTORS: | ||||||||
AMERICAN CAMPUS COMMUNITIES, INC. | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
SHP-THE VILLAGE AT BLACKSBURG, LLC | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
SHP-THE CALLAWAY HOUSE, L.P. | ||||||||
By: | SHP-THE CALLAWAY HOUSE GP, LLC, | |||||||
its general partner | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
SHP-THE VILLAGE AT ALAFAYA CLUB LLC | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
SHP-THE VILLAGE AT SCIENCE DRIVE LLC | ||||||||
By: | ||||||||
Name: | ||||||||
Title: |
ACT-VILLAGE AT TEMPLE, LLC | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
ACC OP UC I-TALLAHASSEE LLC | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
ACC OP SWEET HOME LLC | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
ACC OP (VILLAGE AT NEWARK) LLC | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
ACC OP (CALLAWAY VILLAS) LP | ||||||||
By: | ACC OP (CALLAWAY VILLAS) GP LLC, | |||||||
its general partner | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
ACC OP (ASU SCRC) LLC | ||||||||
By: | ||||||||
Name: | ||||||||
Title: |
PEGASUS CONNECTION ASSOCIATES, LLC | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
ACC OP (GAINESVILLE IV) LLC | ||||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
VAIRO BOULEVARD ASSOCIATES, LP | ||||||||
By: | VAIRO BOULEVARD ASSOCIATES INTERMEDIATE, LLC, its general partner | |||||||
By: | ||||||||
Name: | ||||||||
Title: | ||||||||
W9/JP-M REAL ESTATE LIMITED PARTNERSHIP | ||||||||
By: | NITTANY CROSSING INTERMEDIATE, LLC, | |||||||
its general partner | ||||||||
By: | ||||||||
Name: | ||||||||
Title: |
WHGMH REALTY, L.P. | ||||||||
By: | STATE COLLEGE INTERMEDIATE, LLC, | |||||||
its general partner | ||||||||
By: | ||||||||
Name: | ||||||||
Title: |
LENDERS: | ||||||
KEYBANK NATIONAL ASSOCIATION, individually as a Lender and as Administrative Agent, Swing Line Bank and Issuing Bank. | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
JPMORGAN CHASE BANK, N.A. | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
BANK OF AMERICA, N.A. | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
DEUTSCHE BANK TRUST COMPANY AMERICAS | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
U.S. BANK NATIONAL ASSOCIATION | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
COMPASS BANK, an Alabama state banking corporation | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
PNC BANK, NATIONAL ASSOCIATION. | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
WELLS FARGO BANK, NATIONAL ASSOCIATION | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
REGIONS BANK | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
CAPITAL ONE N.A. | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
CREDIT AGREEMENT
$________________ | Dated: _________ ___, ____ |
Exhibit A-1 – Page 1
AMERICAN CAMPUS COMMUNITIES | ||||||||
OPERATING PARTNERSHIP LP | ||||||||
By: | American Campus Communities Holdings LLC, | |||||||
its General Partner | ||||||||
By: | American Campus Communities, Inc., | |||||||
its Sole Member | ||||||||
By | ||||||||
Title: |
Exhibit A-1 – Page 2
PAYMENTS OF PRINCIPAL
Amount of | Unpaid | |||||||
Amount of | Principal Paid | Principal | Notation | |||||
Date | Advance | or Prepaid | Balance | Made By | ||||
Exhibit A-1 – Page 3
CREDIT AGREEMENT
$________________ | Dated: _________ ___, ____ |
Exhibit A-2 – Page 1
AMERICAN CAMPUS COMMUNITIES | ||||||||
OPERATING PARTNERSHIP LP | ||||||||
By: | American Campus Communities Holdings LLC, | |||||||
its General Partner | ||||||||
By: | American Campus Communities, Inc., | |||||||
its Sole Member | ||||||||
By | ||||||||
Title: |
Exhibit A-2 – Page 2
PAYMENTS OF PRINCIPAL
Amount of | Unpaid | |||||||
Amount of | Principal Paid | Principal | Notation | |||||
Date | Advance | or Prepaid | Balance | Made By | ||||
Exhibit A-2 – Page 3
CREDIT AGREEMENT
OF BORROWING
as Administrative Agent
under the Credit Agreement
referred to below
127 Public Square
Cleveland, OH 44114-1306
Attention: John Scott
(i) | The Business Day of the Proposed Borrowing is _________ ___, __. |
(ii) | The Facility under which the Proposed Borrowing is requested is the [Revolving Credit][Swing Line][Term] Facility. |
(iii) | The Type of Advances comprising the Proposed Borrowing is [Base Rate Advances] [Eurodollar Rate Advances]. [Specify for each Facility.] |
(iv) | The aggregate amount of the Proposed Borrowing is [$__________]. [Specify Amount for each Facility.] |
(v) | [The initial Interest Period for each Eurodollar Rate Advance made as part of the Proposed Borrowing is _________ month[s].] [Specify for each Facility.] [The maturity of such Swing Line Borrowing is ____.] |
Exhibit B-1
(A) | The representations and warranties contained in each Loan Document are true and correct on and as of the date of the Proposed Borrowing, before and after giving effect to (x) the Proposed Borrowing and (y) the application of the proceeds therefrom, as though made on and as of such date. |
(B) | No Default has occurred and is continuing, or would result from (x) such Proposed Borrowing or (y) the application of the proceeds therefrom. |
(C) | (i) The Aggregate Borrowing Base Amount equals or exceeds the sum of the Facility Exposure after giving effect to the Proposed Borrowing plus the amount of all other Unsecured Debt, (ii) before and after giving effect to the Proposed Borrowing, the Parent Guarantor shall be in compliance with the covenants contained in Section 5.04 of the Credit Agreement and (iii) all supporting information provided to the Administrative Agent contemporaneously with this Notice of Borrowing was prepared in good faith and accurately shows the computations used in determining compliance with the covenants contained in Section 5.04 of the Credit Agreement. |
AMERICAN CAMPUS COMMUNITIES | ||||||||
OPERATING PARTNERSHIP LP | ||||||||
By: | American Campus Communities Holdings LLC, | |||||||
its General Partner | ||||||||
By: | American Campus Communities, Inc., | |||||||
its Sole Member | ||||||||
By: | ||||||||
Title: |
Exhibit B-2
CREDIT AGREEMENT
OF ISSUANCE
as Administrative Agent
under the Credit Agreement
referred to below
127 Public Square
Cleveland, OH 44114-1306
Attention: John Scott1
(i) | The Business Day of the issuance of the Proposed Letter of Credit is _________ ___, __. |
(ii) | The Available Amount of the Proposed Letter of Credit is $________________. |
(iii) | The expiration date of the Proposed Letter of Credit is _________ ___, __. |
(iv) | The name and address of the beneficiary of the Proposed Letter of Credit are as follows: |
1 | If applicable, insert address of Issuing Bank other than KeyBank |
Exhibit C-1
[Name] |
[Address] |
[Address] |
[Address] |
(v) | Attached hereto is: |
____ the verbatim text of such proposed Letter of Credit; or |
____ a description of the proposed terms and conditions of such Letter of Credit, including a precise description of any documents to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of such Letter of Credit, would require the Issuing Bank to make payment under such Letter of Credit. |
(A) | The representations and warranties contained in each Loan Document are true and correct on and as of the date of the issuance of the Proposed Letter of Credit, before and after giving effect to the issuance of the Proposed Letter of Credit, as though made on and as of such date. |
(B) | No Default has occurred and is continuing, or would result from the issuance of the Proposed Letter of Credit. |
(C) | (i) The Aggregate Borrowing Base Amount equals or exceeds the sum of the Facility Exposure plus the amount of all other Unsecured Debt after giving effect to the issuance of the Proposed Letter of Credit, (ii) before and after giving effect to the issuance of the Proposed Letter of Credit, the Parent Guarantor shall be in compliance with the covenants contained in Section 5.04 of the Credit Agreement and (iii) all supporting information provided to the Administrative Agent contemporaneously with this Notice of Issuance was prepared in good faith and accurately shows the computations used in determining compliance with the covenants contained in Section 5.04 of the Credit Agreement. |
Exhibit C-2
AMERICAN CAMPUS COMMUNITIES | ||||||||
OPERATING PARTNERSHIP LP | ||||||||
By: | American Campus Communities Holdings LLC, | |||||||
its General Partner | ||||||||
By: | American Campus Communities, Inc., | |||||||
its Sole Member | ||||||||
By: | ||||||||
Title: |
Exhibit C-3
CREDIT AGREEMENT
GUARANTY SUPPLEMENT
as Administrative Agent
under the Credit Agreement
referred to below
127 Public Square
Cleveland, OH 44114-1306
Attention: John Scott
Exhibit D-1
Exhibit D-2
Very truly yours, | ||||||
[NAME OF ADDITIONAL GUARANTOR] | ||||||
By: | ||||||
Title: |
Exhibit D-3
CREDIT AGREEMENT
ASSIGNMENT AND ACCEPTANCE
Exhibit E-1
Exhibit E-2
Exhibit E-3
TO
ASSIGNMENT AND ACCEPTANCE
ASSIGNORS: | ||||||||||||||||||||
Revolving Credit Facility | ||||||||||||||||||||
Percentage interest assigned | % | % | % | % | % | |||||||||||||||
Revolving Credit Commitment assigned | $ | $ | $ | $ | $ | |||||||||||||||
Aggregate outstanding principal amount of Revolving Credit Advances assigned | $ | $ | $ | $ | $ | |||||||||||||||
Principal amount of Revolving Credit Note payable to Assignor | $ | $ | $ | $ | $ | |||||||||||||||
Letter of Credit Facility | ||||||||||||||||||||
Letter of Credit Commitment assigned | $ | $ | $ | $ | $ | |||||||||||||||
Letter of Credit Commitment retained | $ | $ | $ | $ | $ | |||||||||||||||
Term Facility | ||||||||||||||||||||
Percentage interest assigned | % | % | % | % | % | |||||||||||||||
Term Commitment assigned | $ | $ | $ | $ | $ | |||||||||||||||
Aggregate outstanding principal amount of Term Advances assigned | $ | $ | $ | $ | $ | |||||||||||||||
Principal amount of Term Note payable to Assignor | $ | $ | $ | $ | $ | |||||||||||||||
ASSIGNEES: | ||||||||||||||||||||
Revolving Credit Facility | ||||||||||||||||||||
Percentage interest assumed | % | % | % | % | % | |||||||||||||||
Revolving Credit Commitment assumed | $ | $ | $ | $ | $ | |||||||||||||||
Aggregate outstanding principal amount of Revolving Credit Advances assumed | $ | $ | $ | $ | $ | |||||||||||||||
Principal amount of Revolving Credit Note payable to Assignee | $ | $ | $ | $ | $ | |||||||||||||||
Letter of Credit Facility | ||||||||||||||||||||
Letter of Credit Commitment assumed | $ | $ | $ | $ | $ | |||||||||||||||
Term Facility | ||||||||||||||||||||
Percentage interest assumed | % | % | % | % | % | |||||||||||||||
Term Commitment assumed | $ | $ | $ | $ | $ | |||||||||||||||
Aggregate outstanding principal amount of Term Advances assumed | $ | $ | $ | $ | $ | |||||||||||||||
Principal amount of Term Note payable to Assignee | $ | $ | $ | $ | $ |
Exhibit E-4
2 | This date should be no earlier than five Business Days after the delivery of this Assignment and Acceptance to the Administrative Agent. |
Exhibit E-5
[Type or print legal name of Assignee]
Title:
E-mail address for notices:
[Type or print legal name of Assignee]
Title:
E-mail address for notices:
Exhibit E-6
[Type or print legal name of Assignee]
Title:
E-mail address for notices:
[Type or print legal name of Assignee]
Title:
E-mail address for notices:
Exhibit E-7
of ________________, _____
By | ||||
[Approved this _____ day | ||||
of ________________, _____ | ||||
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP LP | ||||
By: | American Campus Communities Holdings LLC, | |||
its General Partner | ||||
By: | American Campus Communities, Inc., | |||
its Sole Member | ||||
By: | ||||
Exhibit E-8
CREDIT AGREEMENT
COUNSEL TO THE LOAN PARTIES
Exhibit F-1
CREDIT AGREEMENT
Exhibit G-1
CREDIT AGREEMENT
BORROWING BASE CERTIFICATE
Borrowing Base Certificate
Period ending ___/___/___
as Administrative Agent
under the Credit Agreement
referred to below
127 Public Square
Cleveland, OH 44114-1306
Exhibit H - Page 1
Exhibit H - Page 2
AMERICAN CAMPUS COMMUNITIES, INC. | ||||||
By | ||||||
Title: Chief Financial Officer |
Exhibit H - Page 3
COMMITMENTS AND APPLICABLE LENDING OFFICES
Name of | ||||||||||||||||||||||||||||||||||||
Initial | ||||||||||||||||||||||||||||||||||||
Lender/ | ||||||||||||||||||||||||||||||||||||
Initial | Revolving | Letter of | Swing | Revolving Credit | Term | |||||||||||||||||||||||||||||||
Issuing | Credit | Credit | Line | Commitment | Term | Commitment | Total | Commitment | ||||||||||||||||||||||||||||
Bank | Commitment | Commitment | Commitment | Percentage | Commitment | Percentage | Commitment | Percentage | Domestic Lending Office | Eurodollar Lending Office | ||||||||||||||||||||||||||
KeyBank National Association | $ | 50,192,308 | $ | 35,000,000 | $ | 35,000,000 | 11.2 | % | $ | 22,307,692 | 11.2 | % | $ | 72,500,000 | 11.2 | % | 127 Public Square Cleveland, OH 44114-1306 Attn: John Scott Tel. 216-689-5986 Fax: 216-689-4997 Email: john_c_scott@keybank.com | 127 Public Square Cleveland, OH 44114-1306 Attn: John Scott Tel. 216-689-5986 Fax: 216-689-4997 E-mail: john_c_scott@keybank.com | ||||||||||||||||||
JPMorgan Chase Bank, N.A. | $ | 50,192,308 | 11.2 | % | $ | 22,307,692 | 11.2 | % | $ | 72,500,000 | 11.2 | % | 10 South Dearborn, Floor 7 Chicago, Illinois 60603-2003 Attn. Yvonne E. Dixon Tel: 312-385-7030 Fax: 312-385-7101 Email: yvonne.e.dixon@jpmchase.com | 10 South Dearborn, Floor 7 Chicago, Illinois 60603-2003 Attn. Yvonne E. Dixon Tel: 312-385-7030 Fax: 312-385-7101 Email: yvonne.e.dixon@jpmchase.com | ||||||||||||||||||||||
Bank of America, N.A. | $ | 48,461,538 | 10.8 | % | $ | 21,538,462 | 10.8 | % | $ | 70,000,000 | 10.8 | % | 700 Louisiana Street, 5th FL Houston, TX 77002 Attn: Cyndie Fisher Tel: 713-247-7711 Fax: 713-247-6124 Email: cyndie.fisher@baml.com | 700 Louisiana Street, 5th FL Houston, TX 77002 Attn: Cyndie Fisher Tel: 713-247-7711 Fax: 713-247-6124 Email: cyndie.fisher@baml.com | ||||||||||||||||||||||
Deutsche Bank Trust Company Americas | $ | 48,461,538 | 10.8 | % | $ | 21,538,462 | 10.8 | % | $ | 70,000,000 | 10.8 | % | 90 Hudson Street Mail Stop: JCY05-0199 Jersey City, NJ 07302 Attn: Deal Administration | 90 Hudson Street Mail Stop: JCY05-0199 Jersey City, NJ 07302 Attn: Deal Administration | ||||||||||||||||||||||
U.S. Bank National Association | $ | 48,461,538 | 10.8 | % | $ | 21,538,462 | 10.8 | % | $ | 70,000,000 | 10.8 | % | 14241 Dallas Parkway, Ste 490 Dallas, Texas 75254 Attn: Gregory N. Kaye Tel: 972-458-4503 Fax: 972-386-8370 Email: gregory.kaye@usbank.com | 14241 Dallas Parkway, Ste 490 Dallas, Texas 75254 Attn: Gregory N. Kaye Tel: 972-458-4503 Fax: 972-386-8370 Email: gregory.kaye@usbank.com |
Exhibit H - Page 4
Name of | ||||||||||||||||||||||||||||||||||||
Initial | ||||||||||||||||||||||||||||||||||||
Lender/ | ||||||||||||||||||||||||||||||||||||
Initial | Revolving | Letter of | Swing | Revolving Credit | Term | |||||||||||||||||||||||||||||||
Issuing | Credit | Credit | Line | Commitment | Term | Commitment | Total | Commitment | ||||||||||||||||||||||||||||
Bank | Commitment | Commitment | Commitment | Percentage | Commitment | Percentage | Commitment | Percentage | Domestic Lending Office | Eurodollar Lending Office | ||||||||||||||||||||||||||
Compass Bank | $ | 48,461,538 | 10.8 | % | $ | 21,538,462 | 10.8 | % | $ | 70,000,000 | 10.8 | % | 1703 West 5th Street, Suite 500 Austin, TX 78703 Attn: Brian Tuerff Tel: 512-421-5716 Fax: 512-480-0431 Email: Brian.Tuerff@bbvacompass.com | 1703 West 5th Street, Suite 500 Austin, TX 78703 Attn: Brian Tuerff Tel: 512-421-5716 Fax: 512-480-0431 Email: Brian.Tuerff@bbvacompass.com | ||||||||||||||||||||||
PNC Bank, National Association | $ | 48,461,538 | 10.8 | % | $ | 21,538,462 | 10.8 | % | $ | 70,000,000 | 10.8 | % | One PNC Plaza 249 Fifth Avenue Pittsburgh, PA 15222 Attn: James Colella Tel: 412-762-2260 Fax: 412-762-6500 Email: james.colella@pnc.com | One PNC Plaza 249 Fifth Avenue Pittsburgh, PA 15222 Attn: James Colella Tel: 412-762-2260 Fax: 412-762-6500 Email: james.colella@pnc.com | ||||||||||||||||||||||
Wells Fargo Bank, National Association | $ | 48,461,538 | 10.8 | % | $ | 21,538,462 | 10.8 | % | $ | 70,000,000 | 10.8 | % | 111 Congress Avenue, Suite 530 Austin, TX 78701 Attn: Chris Garza Tel: 512-344-6806 Fax: 512-344-6818 Email: chris.m.garza @wellsfargo.com | 111 Congress Avenue, Suite 530 Austin, TX 78701 Attn: Chris Garza Tel: 512-344-6806 Fax: 512-344-6818 Email: chris.m.garza @wellsfargo.com | ||||||||||||||||||||||
Regions Bank | $ | 34,615,385 | 7.7 | % | $ | 15,384,615 | 7.7 | % | $ | 50,000,000 | 7.7 | % | 16600 North Dallas Parkway Dallas, TX 75248 Attn: Michael Mellott Tel: 972-738-5003 Fax: 972-738-5028 Email: michael.mellott@regions.com | 16600 North Dallas Parkway Dallas, TX 75248 Attn: Michael Mellott Tel: 972-738-5003 Fax: 972-738-5028 Email: michael.mellott@regions.com | ||||||||||||||||||||||
Capital One N.A. | $ | 24,230,769 | 5.4 | % | $ | 10,769,231 | 5.4 | % | $ | 35,000,000 | 5.4 | % | 901 South Mopac, Plaza One Suite 500 Austin, TX 78746 Attn: Jason Reeves Tel: 512-314-2452 Fax: 512-314-2470 Email: jason.reeves@capitalonebank.com | 901 South Mopac, Plaza One Suite 500 Austin, TX 78746 Attn: Jason Reeves Tel: 512-314-2452 Fax: 512-314-2470 Email: jason.reeves@capitalonebank.com | ||||||||||||||||||||||
Total | $ | 450,000,000 | $ | 35,000,000 | $ | 35,000,000 | $ | 200,000,000 | $ | 650,000,000 |
Schedule I - Page 2
INITIAL BORROWING BASE PROPERTIES
Initial Borrowing Base Property | Property Address | Property Owner | ||
The Village at Blacksburg | 1600 Patrick Henry Drive Blacksburg, VA 24060 | SHP-The Village at Blacksburg, LLC | ||
The Callaway House | 301 George Bush Drive West College Station, TX 77840 | SHP-The Callaway House L.P. | ||
The Village at Alafaya Club | 3100 Alafaya Club Drive Orlando, FL 32817 | SHP-The Village at Alafaya Club LLC | ||
The Village at Science Drive | 2913 Einstein Way Orlando, FL 32826 | SHP-The Village at Science Drive, LLC | ||
University Village at Fresno | East Barstow Avenue Fresno, CA 93710 | ACT-Village at Fresno State, LLC | ||
University Village at TU | 1701 North 10th Street Philadelphia, PA 19122 | ACT-Village at Temple, LLC | ||
University Club Tallahassee | 228 Dixie Drive Tallahassee, FL 32304 | ACC OP UC I - Tallahassee LLC | ||
The Greens at College Club | 2833 South Adams St Tallahassee, FL 32301 | ACC OP CC II - Tallahassee LLC | ||
University Village at Sweet Home | 283 American Campus Drive Amherst, NY 14228 | 1772 Sweet Home Road, LLC | ||
Callaway Villas | 305 Marion Pugh College Station, TX 77840 | ACC OP (Callaway Villas) LP | ||
University Centre | 250 Central Avenue Newark, NJ 07102 | Village at Newark Urban Renewal, LLC | ||
Vista del Sol | 701 East Apache Boulevard Tempe, AZ 85281 | ACC OP ASU SCRC LLC | ||
Villas at Babcock | 14333 Babcock Road San Antonio, Texas 78249 | American Campus Communities Operating Partnership LP | ||
Sam Houston State University | 1615 Sycamore Avenue Huntsville, Texas 77340 | Sycamore Avenue Associates, LLC | ||
Sunnyside Commons | 235 A Jones Avenue Morgantown, WV 26505 | American Campus Communities Operating Partnership LP | ||
The Edge (fka Pegasus Connection) | 11841 Jefferson Commons Circle Orlando, FL 32826 | Pegasus Connection Associates, LLC | ||
Pirates Cove | 3305 East 10th Street Greenville, NC 27858 | Southeast Region II, LLC | ||
University Highlands | 2800 Enterprise Boulevard Reno, NV 89512 | Reno Associates, LLC | ||
University Place | 100 Wahoo Way Charlottesville, NC 22903 | Lynchburg Associates, LLC | ||
University Trails | 2210 Main Street Lubbock, TX 79401 | Lubbock Main Street Associates, LLC |
Initial Borrowing Base Property | Property Address | Property Owner | ||
University Heights - Birmingham | 500 Palisades Drive Birmingham, AL 35209 | ACC/GF III Campus Heights, LLC | ||
Lion’s Crossing | 201 Vairo Boulevard State College, PA 16803 | Vairo Boulevard Associates, LP | ||
Nittany Crossing | 601 Vairo Boulevard State College, PA 16803 | W9/JP-M Real Estate Limited Partnership | ||
State College Park | 348 Blue Course Drive State College, PA 16803 | WHGMH Realty, L.P. | ||
The View | 301 W. Charleston Street Lincoln, NE, 68258 | ACC/GF III The View, LLC | ||
University Greens | 2900 Oak Tree Avenue Norman, OK 73072 | ACC/GF III University Greens, LLC | ||
The Edge II | 1300 Varsity Lane Charlotte, NC 28262 | GMH/GF Varsity Lane Associates, LLC | ||
The Sanctuary | 350 North Street San Marcos, Texas 78666 | ACC OP (Sanctuary Lofts) LLC | ||
Jefferson 2nd Avenue | 505 S. W. 2nd Avenue Gainesville, Florida 32601 | ACC OP (GAINESVILLE IV) LLC |