as Borrower,
as Borrower,
as a Guarantor,
as Sole Lead Arranger,
as Agent,
AND THEIR ASSIGNEES PURSUANT TO SECTION 13.5,
as Lenders
ARTICLE I Definitions | 1 | |||
Section 1.1 Definitions | 1 | |||
Section 1.2 General; References to Times | 27 | |||
Section 1.3 GAAP | 27 | |||
Section 1.4 Pro Forma Calculations | 27 | |||
Section 1.5 Florida Borrower Representative | 28 | |||
Section 1.6 Joint and Several Obligations | 28 | |||
ARTICLE II Credit Facility | 28 | |||
Section 2.1 Loans | 28 | |||
Section 2.2 Letters of Credit | 29 | |||
Section 2.3 Rates and Payment of Interest on Loans | 33 | |||
Section 2.4 Number of Interest Periods | 34 | |||
Section 2.5 Repayment of Loans | 34 | |||
Section 2.6 Prepayments | 34 | |||
Section 2.7 Continuation | 35 | |||
Section 2.8 Conversion | 35 | |||
Section 2.9 Notes | 35 | |||
Section 2.10 Voluntary Reductions of the Commitment | 36 | |||
Section 2.11 Amount Limitations | 36 | |||
Section 2.12 Incremental Commitments | 37 | |||
ARTICLE III Payments, Fees and Other General Provisions | 38 | |||
Section 3.1 Payments | 38 | |||
Section 3.2 Pro Rata Treatment | 39 | |||
Section 3.3 Sharing of Payments, Etc. | 39 | |||
Section 3.4 Lockbox Account | 40 | |||
Section 3.5 Several Obligations | 41 | |||
Section 3.6 Minimum Amounts | 41 | |||
Section 3.7 Fees | 42 | |||
Section 3.8 Computations | 43 | |||
Section 3.9 Usury | 43 | |||
Section 3.10 Agreement Regarding Interest and Charges | 43 | |||
Section 3.11 Statements of Account | 43 | |||
Section 3.12 Defaulting Lenders | 44 | |||
Section 3.13 Taxes | 46 | |||
Section 3.14 Mitigation Obligations; Replacement of Lenders | 49 | |||
ARTICLE IV Florida Property | 50 | |||
Section 4.1 Frequency of Calculations of Borrowing Base | 50 | |||
Section 4.2 Frequency of Appraisals | 50 | |||
Section 4.3 Additional Appraisals Required under Applicable Law | 51 |
i
ARTICLE V Yield Protection, Etc. | 51 | |||
Section 5.1 Additional Costs; Capital Adequacy | 51 | |||
Section 5.2 Suspension of LIBOR Loans | 53 | |||
Section 5.3 Illegality | 53 | |||
Section 5.4 Compensation | 53 | |||
Section 5.5 Treatment of Affected Loans | 54 | |||
Section 5.6 Change of Lending Office | 54 | |||
Section 5.7 Assumptions Concerning Funding of LIBOR Loans | 55 | |||
ARTICLE VI Conditions Precedent | 55 | |||
Section 6.1 Initial Conditions Precedent | 55 | |||
Section 6.2 Conditions Precedent to All Loans and Letters of Credit | 59 | |||
ARTICLE VII Representations and Warranties | 60 | |||
Section 7.1 Representations and Warranties | 60 | |||
Section 7.2 Survival of Representations and Warranties, Etc. | 66 | |||
ARTICLE VIII Affirmative Covenants | 67 | |||
Section 8.1 Preservation of Existence and Similar Matters | 67 | |||
Section 8.2 Compliance with Applicable Law and Material Contracts | 67 | |||
Section 8.3 Maintenance of Property | 67 | |||
Section 8.4 Insurance | 67 | |||
Section 8.5 Payment of Taxes and Claims | 68 | |||
Section 8.6 Visits and Inspections | 68 | |||
Section 8.7 Use of Proceeds; Letters of Credit | 68 | |||
Section 8.8 Environmental Matters | 69 | |||
Section 8.9 Books and Records | 69 | |||
Section 8.10 Further Assurances | 69 | |||
Section 8.11 Exchange Listing | 69 | |||
Section 8.12 Minimum Hedging Requirement | 69 | |||
Section 8.13 Post-Closing Deliverables | 69 | |||
ARTICLE IX Information | 70 | |||
Section 9.1 Quarterly Financial Statements | 70 | |||
Section 9.2 Year-End Statements | 70 | |||
Section 9.3 Compliance Certificate; Borrowing Base Certificate; Etc. | 70 | |||
Section 9.4 Other Information | 71 | |||
Section 9.5 Electronic Delivery of Certain Information | 73 | |||
ARTICLE X Negative Covenants | 74 | |||
Section 10.1 Indebtedness; Certain Equity Securities | 74 | |||
Section 10.2 Liens | 78 |
ii
Section 10.3 Fundamental Changes | 80 | |||
Section 10.4 Investments, Loans, Advances, Guarantees and Acquisitions | 80 | |||
Section 10.5 Asset Sales | 83 | |||
Section 10.6 Swap Agreements | 84 | |||
Section 10.7 Restricted Payments | 84 | |||
Section 10.8 Transactions with Affiliates | 85 | |||
Section 10.9 Restrictive Agreements | 86 | |||
Section 10.10 Amendment of Material Documents | 86 | |||
Section 10.11 Financial Covenants | 87 | |||
Section 10.12 Changes in Fiscal Periods | 87 | |||
Section 10.13 ERISA Exemptions | 87 | |||
Section 10.14 Availability of Exceptions | 87 | |||
ARTICLE XI Default | 88 | |||
Section 11.1 Events of Default | 88 | |||
Section 11.2 Remedies Upon Event of Default | 91 | |||
Section 11.3 Remedies Upon Default | 92 | |||
Section 11.4 Allocation of Proceeds | 92 | |||
Section 11.5 Collateral Account | 92 | |||
Section 11.6 Performance by Agent | 94 | |||
Section 11.7 Rights Cumulative | 94 | |||
ARTICLE XII The Agent | 95 | |||
Section 12.1 Appointment; Nature of Duties | 95 | |||
Section 12.2 Lack of Reliance on the Agent | 95 | |||
Section 12.3 Certain Rights of Agent | 96 | |||
Section 12.4 The Agent in its Individual Capacity | 96 | |||
Section 12.5 Reliance; Delivery of Information | 96 | |||
Section 12.6 Collateral Matters | 96 | |||
Section 12.7 Holders | 97 | |||
Section 12.8 Indemnification of Agent | 97 | |||
Section 12.9 Successor Agent | 98 | |||
Section 12.10 Titled Agents | 98 | |||
ARTICLE XIII Miscellaneous | 99 | |||
Section 13.1 Notices | 99 | |||
Section 13.2 Expenses | 100 | |||
Section 13.3 Setoff | 101 | |||
Section 13.4 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL | 102 | |||
Section 13.5 Successors and Assigns | 103 | |||
Section 13.6 Amendments | 106 | |||
Section 13.7 Nonliability of Agent, Issuing Bank and Lenders | 108 | |||
Section 13.8 Confidentiality | 109 |
iii
Section 13.9 Termination; Survival | 109 | |||
Section 13.10 Severability of Provisions | 110 | |||
Section 13.11 Patriot Act | 110 | |||
Section 13.12 Counterparts | 110 | |||
Section 13.13 Obligations with Respect to Loan Parties | 110 | |||
Section 13.14 Limitation of Liability | 110 | |||
Section 13.15 Entire Agreement | 110 | |||
Section 13.16 Construction | 111 | |||
Section 13.17 Nature of Borrower Obligations | 111 |
Schedule 1.1(A) | — | List of Material Subsidiaries | ||
Schedule 2.1 | — | Loan Commitments and Applicable Percentages | ||
Schedule 7.1(b) | — | Ownership Structure | ||
Schedule 7.1(d) | — | Governmental Approvals | ||
Schedule 7.1(f) | — | Title to Properties; Liens | ||
Schedule 7.1(g) | — | Indebtedness as of Effective Date | ||
Schedule 7.1(h) | — | Material Contracts | ||
Schedule 7.1(i) | — | Litigation | ||
Schedule 7.1(y) | — | Existing Swap Agreements | ||
Schedule 10.4 | — | Existing Investments | ||
Schedule 10.9 | — | Restrictive Agreements |
Exhibit A | — | Form of Assignment and Assumption | ||
Exhibit B | — | Form of Notice of Borrowing | ||
Exhibit C | — | Form of Notice of Continuation | ||
Exhibit D | — | Form of Notice of Conversion | ||
Exhibit E | — | Intentionally Omitted | ||
Exhibit F | — | Form of Note | ||
Exhibit G | — | Form of Intercompany Note | ||
Exhibit H | — | Form of Letter of Credit Request | ||
Exhibit I | — | Form of Compliance Certificate | ||
Exhibit J | — | Form of Guaranty | ||
Exhibit K | — | Form of Security Deed | ||
Exhibit L | — | Form of Assignment of Leases and Rents | ||
Exhibit M | — | Form of Environmental Indemnity Agreement | ||
Exhibit N | — | Intentionally Omitted | ||
Exhibit O | — | Form of Property Management Contract Assignment | ||
Exhibit P | — | Form of Pledge Agreement | ||
Exhibit Q | — | Form of Security Agreement | ||
Exhibit R | — | Form of Borrowing Base Certificate | ||
Exhibit S | — | Form of Incremental Commitment Agreement | ||
Exhibit T | — | Form of Closing Certifications |
iv
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New York, New York 10018
Attn: Richard Szymanski
Telephone: (212) 277-4188
Telecopy: (212) 277-4270
Dallas, Texas 75201
Attn: Gerard Dupont
Telephone: (214) 740-7913
Telecopy: (214) 740-7910
New York, New York 10005
Attn: George Reynolds
Telephone: (212) 250-2362
Telecopy: (212) 797-4496
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MORGANS GROUP LLC, a Delaware limited liability company, as MG Borrower | ||||||||
By: | Morgans Hotel Group Co., its managing member | |||||||
By: | /s/ Richard Szymanski | |||||||
Name: | Richard Szymanski | |||||||
Title: | Chief Financial Officer and Secretary | |||||||
BEACH HOTEL ASSOCIATES LLC, a Delaware limited liability company, as Florida Borrower | ||||||||
By: | Morgans Group LLC, its managing member | |||||||
By: | Morgans Hotel Group Co., its managing member | |||||||
By: | /s/ Richard Szymanski | |||||||
Name: | Richard Szymanski | |||||||
Title: | Chief Financial Officer and Secretary | |||||||
MORGANS HOTEL GROUP CO., a Delaware corporation, as Holdings | ||||||||
By: | /s/ Richard Szymanski | |||||||
Name: | Richard Szymanski | |||||||
Title: | Chief Financial Officer and Secretary |
DEUTSCHE BANK TRUST COMPANY AMERICAS, as Agent and Lender | ||||||||
By: | /s/ George R. Reynolds | |||||||
Name: | George R. Reynolds | |||||||
Title: | Director | |||||||
By: | /s/ James Rolison | |||||||
Name: | James Rolison | |||||||
Title: | Managing Director | |||||||
Address for Notices: | ||||||||
Deutsche Bank Securities Inc. 200 Crescent Court, Suite 550 Dallas, Texas 75201 Attn: Gerard Dupont Telephone: 214-740-7913 Telecopier: 214-740-7910 | ||||||||
with a copy to: | ||||||||
Deutsche Bank Securities Inc. 60 Wall Street New York, New York 10005 Attn: George Reynolds Telephone: 212-250-2362 Telecopier: 212-797-4496 | ||||||||
OPERATIONS & LIBOR Lending Office: | ||||||||
Deutsche Bank Trust Company Americas 90 Hudson Street, 5th Floor Jersey City, New Jersey 07302 Attn: Deirdre Wall Telephone: 201-593-2170 Telecopier: 201-593-2308 |
AAREAL CAPITAL CORPORATION, a Delaware Corporation, as Lender | ||||||||
By: | /s/ Christoph Donner | |||||||
Name: | Christoph Donner | |||||||
Title: | Senior Managing Director | |||||||
By: | /s/ Alan L. Griffin | |||||||
Name: | Alan L. Griffin | |||||||
Title: | Counsel | |||||||
Address for Notices: | ||||||||
Aareal Capital Corporation 250 Park Avenue, Suite 820 New York, NY 10177 Attn: Daniel de Roo Telephone: 646-465-8614 Telecopier: 917-322-0290 | ||||||||
OPERATIONS & LIBOR Lending Office: | ||||||||
Aareal Capital Corporation Paulinenstr. 15 65189 Wiesbaden-DE Attn: Annette Haas Telephone: +49.611.348.3055 Telecopier: +49.611 .348.71805 |
CITIBANK, N.A., as Lender | ||||||||
By: | /s/ Michael Chlopak | |||||||
Name: Title: | Michael Chlopak Vice President | |||||||
Address for Notices: | ||||||||
Citibank, N.A. 388 Greenwich St, 23rd Floor New York, NY 10013 Attn: Bryce Hong Telephone: 212-723-6951 Telecopier: 646-688-2051 | ||||||||
OPERATIONS & LIBOR Lending Office: | ||||||||
Citibank, N.A. 1615 Brett Road, Bldg III New Castle, DE 19720 Attn: Loan Administration Telephone: 302-894-6052 Telecopier: 212-994-0847 |
MIDFIRST BANK, a federally chartered savings association, as Lender | ||||||||
By: | /s/ Darrin Rigler | |||||||
Name: | Darrin Rigler | |||||||
Title: | Vice President | |||||||
Address for Notices: | ||||||||
MidFirst Bank 501 NW Grand Blvd Oklahoma City, OK 73118 Attn: Darrin Rigler Telephone: 405-767-7608 Telecopier: 405-767-7119 | ||||||||
OPERATIONS & LIBOR Lending Office: | ||||||||
MidFirst Bank 501 NW Grand Blvd Oklahoma City, OK 73118 Attn: Glenda Edwards Telephone: 405-767-7140 Telecopier: 405-767-7119 |
Morgans Group LLC, Borrower
Beach Hotel Associates LLC, Borrower
Morgans Hotel Group Management LLC, Guarantor
Applicable | ||||||||
Lender | Commitment | Percentage | ||||||
Deutsche Bank Trust Company Americas | $ | 30,000,000.00 | 30 | % | ||||
Citibank, N.A. | $ | 30,000,000.00 | 30 | % | ||||
Aareal Capital Corporation, a Delaware Corporation | $ | 30,000,000.00 | 30 | % | ||||
MidFirst Bank, a federally chartered savings association | $ | 10,000,000.00 | 10 | % | ||||
Total | $ | 100,000,000.00 | 100 | % | ||||
Equity | Nature of | Status | 3rd Party | |||||||
Name | Jurisdiction | Interest | Equity Interest | (Material/Foreign) | Equity Interest | |||||
Morgans Group LLC | Delaware | 97.1% Morgans Hotel Group Co. | Membership | Material | 2.9% by Residual Hotel Interest LLC (DE) | |||||
Morgans Holdings LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
MHG Capital Trust I | Delaware | 100% Morgans Group LLC | Common Securities | 100% Trust Preferred Holders (Trust Preferred Securities) | ||||||
Morgans/Delano Pledgor LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
Madison Bar Company LLC | Delaware | 100% by Morgans/Delano Pledgor LLC | Membership | |||||||
SC Morgans/Delano LLC | Delaware | 100% by Morgans/Delano Pledgor LLC | Membership | |||||||
SC Madison LLC | Delaware | 100% by SC Morgans/Delano LLC | Membership | |||||||
SC Collins LLC | Delaware | 100% by SC Morgans/Delano LLC | Membership | |||||||
Mondrian Miami Investment LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
Beach Hotel Associates LLC | Delaware | 100% by Morgans Group LLC | Membership | Material | ||||||
Mondrian Miami Capital LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
Henry Hudson Senior Mezz LLC | Delaware | 100% by Morgans Group LLC | Membership | Material | ||||||
Hudson Pledgor LLC | Delaware | 100% by Henry Hudson Senior Mezz LLC | Membership | |||||||
58th Street Bar Company LLC | Delaware | 100% by Hudson Pledgor LLC | Membership |
Equity | Nature of | Status | 3rd Party | |||||||
Name | Jurisdiction | Interest | Equity Interest | (Material/Foreign) | Equity Interest | |||||
Henry Hudson Holdings LLC | Delaware | 100% by Henry Hudson Senior Mezz LLC | Membership | Material | ||||||
Hudson Managing Member LLC | Delaware | 100% by Henry Hudson Senior Mezz LLC | Membership | Material | ||||||
Hudson Leaseco LLC | New York | 99.99% by Hudson Managing Member LLC | Membership | Material | ||||||
.01% Hudson Residual Interests Inc. | Membership | Material | ||||||||
Hudson Residual Interests Inc. | Delaware | 100% by Morgans Group LLC | Stock | |||||||
Mondrian Holdings LLC | Delaware | 100% by Mondrian Senior Mezz LLC | Membership | |||||||
Mondrian Senior Mezz LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
Mondrian Pledgor LLC | Delaware | 100% by Mondrian Senior Mezz LLC | Membership | 100% to be acquired by Wolverines Lessee LLC | ||||||
Sunset Restaurant LLC | Delaware | 50% by Mondrian Pledgor LLC | Membership | 100% to be acquired by Wolverines Lessee LLC | ||||||
50% by Mondrian Senior Mezz LLC | Membership | |||||||||
8440 LLC | California | 1% by Sunset Restaurant LLC | Membership | |||||||
99% by Mondrian Pledgor LLC | Membership | |||||||||
MC South Beach LLC | Delaware | 50% by 1100 West Properties LLC | Membership | |||||||
50% by Morgans Group LLC | Membership | |||||||||
Morgans Hotel Group Management LLC | Delaware | 100% by Morgans Group LLC | Membership | Material | ||||||
Royalton London LLC | New York | 100% by Morgans Group LLC | Membership | |||||||
Morgans Hotel Group U.K. Management Limited | United Kingdom | 100% by Royalton London LLC | Membership | Foreign | ||||||
Royalton UK Development Limited | United Kingdom | 100% by Royalton London LLC (f/k/a S London LLC) | Membership | Foreign |
Equity | Nature of | Status | 3rd Party | |||||||
Name | Jurisdiction | Interest | Equity Interest | (Material/Foreign) | Equity Interest | |||||
Royalton Europe Holdings LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
Morgans Newco Limited | United Kingdom | 100% by Royalton Europe Holdings LLC | Membership | Foreign | ||||||
SC Restaurant Company LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
Shore Club Holdings, LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
495 Geary LLC | Delaware | 99% by Clift Holdings LLC | Membership | |||||||
1% by Morgans Group LLC | Membership | |||||||||
495 ABC License LLC | Delaware | 100% Class A Membership by 495 Geary LLC | Membership | 0% Class B Membership by SARH | ||||||
Clift Holdings LLC | Delaware | 100% by Morgans Group LLC | Membership | Material | ||||||
MHG 1 Court Investment, LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
MHG Puerto Rico Management LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
MHG PR Investment LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
MHG PR Member LLC | Puerto Rico | 100% by MHG PR Investment LLC | Membership | |||||||
MHG 150 Lafayette Investment LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
MHG Mexico Management S. de R.L. de C.V | Mexico | 1% by Morgans Group LLC | Membership | Foreign | ||||||
99% by MHG Mexico LLC | Membership | |||||||||
MHG Mexico LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
Collins Hotel Associates Mezz LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
MHG South America LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
Mondrian Scottsdale Mezz Holding Company LLC | Delaware | 100% by Morgans Group LLC | Membership | |||||||
MHG Scottsdale Holdings LLC | Delaware | 100% by Mondrian Scottsdale Mezz Holding Company LLC | Membership |
Equity | Nature of | Status | 3rd Party | |||||||
Name | Jurisdiction | Interest | Equity Interest | (Material/Foreign) | Equity Interest | |||||
SC Geary LLC | Delaware | 100% by Clift Holdings LLC | Membership | |||||||
Royalton Pledgor LLC | Delaware | 100% Morgans Group LLC | Membership | |||||||
43RD Restaurant LLC | Delaware | 100% Royalton Pledgor LLC | Membership | |||||||
Morgans/LV Management LLC | Delaware | 100%Morgans Group LLC | Membership | |||||||
Morgans/LV Investment LLC | Delaware | 100% Morgans/LV Management LLC | Membership | |||||||
MHG St. Barths Investment LLC | Delaware | 100% Morgans Group LLC | Membership | |||||||
MHG North State Street Investment LLC | Delaware | 100% Morgans Group LLC | Membership |
Name | Jurisdiction | Equity Interest | ||
1100 West Holdings II, LLC | Delaware | 50% by Mondrian Miami Investment LLC | ||
1100 West Holdings LLC | Delaware | 100% by 1100 West Holdings II, LLC | ||
1100 West Properties LLC | Delaware | 100% by 1100 West Holdings, LLC | ||
RMF Capital LLC | Delaware | 50% by Mondrian Miami Capital LLC | ||
Morgans Hotel Group Europe Limited | UK | 50% by Royalton Europe Holdings LLC | ||
Morgans Hotel Group London Limited | UK | 100% by Morgans Hotel Group Europe Limited | ||
NewCo London City Limited | UK | 100% by Morgans Hotel Group Europe Limited | ||
SC London LLC | Delaware | 100% by Morgans Group LLC | ||
SC London Limited | UK | 100% by SC London LLC | ||
Philips South Beach LLC | Illinois | 6.7878% by Shore Club Holdings LLC | ||
Normandy Morgans Ames AHP LLC | Delaware | 31% by MGH 1 Court Investment LLC | ||
Ames Court Street Mezz LLC | Delaware | 100% by Normandy Morgans Ames AHP LLC | ||
Ames Court Street LLC | Delaware | 100% by Ames Court Street Mezz LLC | ||
Ames Court Street Hotel LLC | Delaware | 100% by Ames Court Street LLC | ||
Historic Ames Building Credit JV | Delaware | 90% by Normandy Morgans Ames AHP LLC | ||
10% by Historic Ames Building Credit LLC | ||||
Historic Ames Building Mezz LLC | Delaware | 100% by Historic Ames Building Credit JV | ||
Historic Ames Building LLC | Delaware | 100% by Historic Ames Building Mezz LLC | ||
Historic Ames Building Credit LLC | Delaware | 0.01% by Normandy Morgans Ames AHP LLC | ||
WC Owner LLC | Delaware | 25% by MHG PR Member LLC | ||
Cape Soho Hotel LLC | New York | 20% by MHG 150 Lafayette Investment LLC | ||
Sochin Realty Managers, LLC | Delaware | 100% by Cape Soho Hotel LLC | ||
Sochin Downtown Realty, LLC | New York | 99.5% by Cape Soho Hotel LLC | ||
0.5% by Sochin Realty Managers, LLC | ||||
Hard Rock Hotel Holdings LLC | Delaware | 8% by Morgans Group LLC | ||
Hard Rock Hotel, Inc. | Nevada | 100% by Hard Rock Hotel Holdings LLC | ||
Christopher Hotel Holdings LLC | Delaware | 49% by MHG St. Barths Investment LLC | ||
Cedar Hotel Holdings LLC | Delaware | 49% by MHG North State Street Investment LLC | ||
Cedar Hotel LLC | Delaware | 100% by Cedar Hotel Holdings LLC |
Loan Party and/or Subsidiary | Address | Owned/Leased | ||
Morgans Group LLC | 475 10th Avenue 11th Floor New York, NY 10018 | Leased | ||
Beach Hotel Associates LLC | 1685 Collins Avenue Miami Beach, FL 33139 | Owned | ||
Morgans Holdings LLC | 237 Madison Ave New York, NY 10016 | Leased | ||
SC Madison LLC | 237 Madison Ave New York, NY 10016 | Leased | ||
SC Collins LLC | 1685 Collins Avenue Miami Beach, FL 33139 | Leased | ||
Henry Hudson Holdings LLC | 356 West 58th Street New York, NY 10019 | Owned, except for Unit 4 and Unit 10 as set forth below | ||
Henry Hudson Holdings LLC | 356 West 58th Street New York, NY 10019 | Condominium Unit no. 10 leased from owner | ||
Henry Hudson Holdings LLC | 353 West 57th Street New York, NY 10019 | Condominium Unit no. 4 leased from owner | ||
Hudson Leaseco LLC | 365 West 58th Street New York, NY 10019 | Leased | ||
58th Street Bar Company LLC | 365 West 58th Street New York, NY 10019 | Leased | ||
8440 LLC | 8440 Sunset Boulevard West Hollywood, CA 90069 | Leased | ||
Clift Holdings LLC | 495 Geary Street San Francisco, CA 94102 | Leased |
Litigation
1. | The investments described onSchedule 7.1(b). |
1. | The Trust Preferred Securities (as described under clause (a) of the relevant Credit Agreement definition). |
1 | For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose the second bracketed language. | |
2 | For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first bracketed language. If the assignment is to multiple Assignees, choose the second bracketed language. | |
3 | Select as appropriate. | |
4 | Include bracketed language if there are either multiple Assignors or multiple Assignees. |
Page 2
1. Assignor[s]: | ||
2. Assignee[s]: | ||
[for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender] | ||
3. Borrower(s): | Morgans Group LLC (the “MG Borrower”); Beach Hotel Associates LLC (the “Florida Borrower,” and together with the MG Borrower, the “Borrowers”) | |
4. Agent: | Deutsche Bank Trust Company Americas, as the agent under the Credit Agreement | |
5. Credit Agreement: | The $100,000,000 Credit Agreement dated as of [_____], 2011 among the Borrowers, Morgans Hotel Group Co., the Lenders from time to time party thereto, Deutsche Bank Trust Company Americas, as Agent, and the other agents parties thereto. | |
6. Assigned Interest[s]: |
Aggregate | ||||||||||||||||||||||||
Amount of | Amount of | Percentage | ||||||||||||||||||||||
Commitment/ | Commitment/ | Assigned of | ||||||||||||||||||||||
Facility | Loans for all | Loans | Commitment/ | CUSIP | ||||||||||||||||||||
Assignor[s]5 | Assignee[s]6 | Assigned7 | Lenders8 | Assigned | Loans9 | Number | ||||||||||||||||||
$ | $ | % | ||||||||||||||||||||||
$ | $ | % |
[7. Trade Date: | ]10 |
5 | List each Assignor, as appropriate. | |
6 | List each Assignee, as appropriate. | |
7 | Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment (e.g. “Commitment,”etc.) | |
8 | Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date. | |
9 | Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. | |
10 | To be completed if the Assignor(s) and the Assignee(s) intend that the minimum assignment amount is to be determined as of the Trade Date. |
Page 3
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ASSIGNOR[S]11 [NAME OF ASSIGNOR] | ||||
By: | ||||
Name: | ||||
Title: | ||||
[NAME OF ASSIGNOR] | ||||
By: | ||||
Name: | ||||
Title: | ||||
ASSIGNEE[S]12 [NAME OF ASSIGNEE] | ||||
By: | ||||
Name: | ||||
Title: | ||||
[NAME OF ASSIGNEE] | ||||
By: | ||||
Name: | ||||
Title: | ||||
[Page Break] |
11 | Add additional signature blocks as needed. | |
12 | Add additional signature blocks as needed. |
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[Consented to and]13 Accepted: DEUTSCHE BANK TRUST COMPANY AMERICAS, as Agent | ||||
By: | ||||
Name: | ||||
Title: | ||||
[Consented to:]14 [MORGANS GROUP LLC] | ||||
By: | ||||
Name: | ||||
Title: | ||||
13 | To be added only if the consent of the Agent is required by the terms of the Credit Agreement. | |
14 | To be added only if the consent of the MG Borrower is required by the terms of the Credit Agreement. |
ASSIGNMENT AND ASSUMPTION
Page 2
, 20__
c/o DB Services New Jersey, Inc.
5022 Gate Parkway, Suite 200
Jacksonville, FL 32256
Attn: Melissa Brennan
Fax 1-866-240-3622
melissa.brennan@db.com
agency.transactions@db.com
1. | Pursuant to Section 2.1(b) of the Credit Agreement, the MG Borrower hereby requests that the Lenders make Loans to the Borrowers in an aggregate principal amount equal to $ . | ||
2. | MG Borrower hereby requests that such Loans be made available on , 20_. | ||
3. | MG Borrower hereby requests that the requested Loans all be of the following Type: | ||
[Check one box only] |
o | Base Rate Loans | |||||
o | LIBOR Loans, each with an initial Interest Period for a duration of: | |||||
[Check one box only] | o | 1 month | ||||
o | 2 months | |||||
o | 3 months |
4. | MG Borrower hereby requests that the proceeds of this borrowing of Loans be made available to the Borrowers by . |
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MORGANS GROUP LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
, 20__
c/o DB Services New Jersey, Inc.
5022 Gate Parkway, Suite 200
Jacksonville, FL 32256
Attn: Melissa Brennan
Fax 1-866-240-3622
melissa.brennan@db.com
agency.transactions@db.com
1. | The proposed date of such Continuation is , 20_. | ||
2. | The aggregate principal amount of Loans subject to the requested Continuation is $ and was originally borrowed by the Borrowers on , 20_. | ||
3. | The portion of such principal amount subject to such Continuation is $ . | ||
4. | The current Interest Period for each of the Loans subject to such Continuation ends on , 20_. |
Page 2
5. | The duration of the new Interest Period for each of such Loans or portion thereof subject to such Continuation is: |
[Check one box only] | o 1 month | |
o 2 months | ||
o 3 months |
Page 3
MORGANS GROUP LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
, 20__
c/o DB Services New Jersey, Inc.
5022 Gate Parkway, Suite 200
Jacksonville, FL 32256
Attn: Melissa Brennan
Fax 1-866-240-3622
melissa.brennan@db.com
agency.transactions@db.com
1. | The proposed date of such Conversion is , 20_. | ||
2. | The Loans to be Converted pursuant hereto are currently: |
[Check one box only] | o Base Rate Loans | |
o LIBOR Loans |
3. | The aggregate principal amount of Loans subject to the requested Conversion is $ �� and was originally borrowed by the Borrowers on , 20_. | ||
4. | The portion of such principal amount subject to such Conversion is $ . |
Page 2
5. | The amount of such Loans to be so Converted is to be converted into Loans of the following Type: |
o Base Rate Loans | ||||
o LIBOR Loans, each with an initial Interest Period for a duration of: | ||||
[Check one box only] | o 1 month | |||
o 2 months | ||||
o 3 months |
Page 3
MORGANS GROUP LLC | ||||
By: | ||||
Name: | ||||
Title: |
Page 4
$ | , 20___ |
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MORGANS GROUP LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
BEACH HOTEL ASSOCIATES LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
Page 3
Amount | Unpaid | |||||||||||||||
Date of | Principal Amount of | Paid or | Principal | Notation | ||||||||||||
Loan | Loan | Prepaid | Amount | Made By | ||||||||||||
to
CREDIT AGREEMENT
__, ____
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[NAME OF PAYOR] | ||||
By: | ||||
Name: | ||||
Title: | ||||
[NAME OF PAYEE] | ||||
By: | ||||
Title: |
Global Loan Operations, Standby L/C
60 Wall Street, MS NYC 60-0926
New York, NY 10005-2858
Attn: Charles Ferris, Assistant Vice President
Phone 212-250-1214
Fax 212-797-0403
charles.ferris@db.com
1 | Insert date of Letter of Credit Request. | |
2 | Insert name of Issuing Bank. (Note , if the Agent is being requested to issue a commercial Letter of Credit, please insert the name of Deutsche Bank AG, New York Branch) | |
3 | Insert proposed Date of Issuance, which must be a Business Day at least five Business Days after the date of the Letter of Credit Request. | |
4 | Insert initial stated amount. | |
5 | Insert full name and address of the Beneficiary. | |
6 | Insert brief description of obligation to be supported by the Letter of Credit. | |
7 | Insert date which cannot be later than the earlier of (a) the date which is one year after the Date of Issuance and (b) the date which is 5 Days prior to the Termination Date. |
2
MORGANS GROUP LLC, a Delaware limited liability company | ||||
By: | Morgans Hotel Group Co., | |||
its Managing Member | ||||
By: | ||||
Name: | ||||
Title: | ||||
3
60 Wall Street
New York, New York 10005
Agreement referred to below
Page 2
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of
EXHIBIT I
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MORGANS HOTEL GROUP CO. | ||||||
MORGANS HOTEL GROUP MANAGEMENT LLC, | ||||||
By: | Morgans Hotel Group Co., | |||||
its Managing Member | ||||||
By: | ||||||
Title: | ||||||
Address for Notices: | ||||||
c/o Morgans Group LLC | ||||||
475 Tenth Avenue | ||||||
New York, New York 10018 | ||||||
Attention: Richard Szymanski | ||||||
Telecopy Number: (212) 277-4270 | ||||||
Telephone Number: (212) 277-4188 |
of
EXHIBIT J
[NEW GUARANTOR] | ||||||
By: | ||||||
Title: | ||||||
Address for Notices: | ||||||
c/o Morgans Group LLC | ||||||
475 Tenth Avenue | ||||||
New York, New York 10018 | ||||||
Attention: Richard Szymanski | ||||||
Telecopy Number: (212) 277-4270 | ||||||
Telephone Number: (212) 277-4188 |
AMERICAS, as Agent
By: | ||||
Title: |
Leila Rachlin, Esq.
White & Case LLP
1155 Avenue of the Americas
New York, New York 10036
1111779-2180
AND FIXTURE FILING
pursuant to the Credit Agreement described herein)
Page i
Page | ||||
ARTICLE I Defined Terms | 1 | |||
ARTICLE II Grant and Conveyance | 7 | |||
Section 2.1 Grant and Conveyance | 7 | |||
Section 2.2 Intentionally Omitted | 7 | |||
Section 2.3 Revolving Loan Account; Future Advances | 8 | |||
ARTICLE III Covenants, Warranties and Representations | 8 | |||
Section 3.1 Title to Collateral and Priority of this Instrument | 8 | |||
Section 3.2 Hazardous Materials | 8 | |||
Section 3.3 Separate Tract | 9 | |||
Section 3.4 Leases | 9 | |||
Section 3.5 Use | 10 | |||
Section 3.6 Alterations or Waste | 10 | |||
Section 3.7 Compliance with Legal Requirements | 10 | |||
Section 3.8 [Intentionally Omitted] | 10 | |||
Section 3.9 Prior Security Instrument Status | 10 | |||
Section 3.10 Payment of Impositions | 11 | |||
Section 3.11 Repair | 11 | |||
Section 3.12 Insurance | 11 | |||
Section 3.13 Restoration Following Casualty | 14 | |||
Section 3.14 Hold Harmless | 14 | |||
Section 3.15 [Intentionally Omitted] | 14 | |||
Section 3.16 No Conflicts, Etc. | 14 | |||
Section 3.17 Licenses and Permits | 14 | |||
ARTICLE IV Condemnation | 14 | |||
Section 4.1 Condemnation | 14 | |||
ARTICLE V Events of Default | 15 | |||
Section 5.1 Credit Agreement | 15 | |||
Section 5.2 Foreclosure of Other Liens | 15 | |||
Section 5.3 Disposition of Collateral and Beneficial Interest in Grantor | 15 | |||
Section 5.4 Further Encumbrances | 15 | |||
Section 5.5 Event of Default under any other Loan Document | 15 |
(continued)
Page | ||||
ARTICLE VI Remedies | 17 | |||
Section 6.1 Remedies | 17 | |||
Section 6.2 Separate Sales | 20 | |||
Section 6.3 Remedies Cumulative, Concurrent and Non-Exclusive | 20 | |||
Section 6.4 No Conditions Precedent to Exercise of Remedies | 21 | |||
Section 6.5 Release of and Resort to Collateral | 21 | |||
Section 6.6 Waiver of Appraisement, Valuation, etc. | 21 | |||
Section 6.7 Discontinuance of Proceedings | 22 | |||
Section 6.8 Application of Proceeds | 22 | |||
Section 6.9 Leases | 22 | |||
Section 6.10 Purchase by Agent or Lenders | 22 | |||
Section 6.11 Grantor as Tenant Holding Over | 22 | |||
Section 6.12 Suits to Protect the Collateral | 22 | |||
Section 6.13 Proofs of Claim | 23 | |||
Section 6.14 Occupancy After Foreclosure | 23 | |||
Section 6.15 Waiver of Grantor’s Rights | 23 | |||
ARTICLE VII Security Agreement | 24 | |||
Section 7.1 Security Interest | 24 | |||
Section 7.2 Financing Statements | 24 | |||
Section 7.3 Uniform Commercial Code Remedies | 24 | |||
Section 7.4 Foreclosure of Security Interest | 24 | |||
Section 7.5 No Obligation of Secured Party | 24 | |||
Section 7.6 Information for Fixture Filing | 25 | |||
ARTICLE VIII Assignment of Leases and Rents | 25 | |||
Section 8.1 Assignment | 25 | |||
Section 8.2 Intentionally Omitted | 26 | |||
Section 8.3 Limited License | 26 | |||
Section 8.4 Grantor’s Indemnities | 26 | |||
Section 8.5 Appointment of Attorney-in-Fact | 26 | |||
Section 8.6 Exculpation of Agent | 27 | |||
Section 8.7 [Intentionally Omitted] | 27 | |||
ARTICLE IX Miscellaneous | 27 | |||
Section 9.1 Performance at Grantor’s Expense | 27 | |||
Section 9.2 Survival of Obligations | 28 | |||
Section 9.3 Recording and Filing | 28 | |||
Section 9.4 Notices | 28 | |||
Section 9.5 No Waiver | 28 | |||
Section 9.6 Agent’s Right to Perform the Obligations | 29 |
ii
(continued)
Page | ||||
Section 9.7 Covenants Running with the Land | 30 | |||
Section 9.8 Successors and Assigns | 30 | |||
Section 9.9 Severability | 30 | |||
Section 9.10 Modification | 30 | |||
Section 9.11 Assignment | 30 | |||
Section 9.12 [Intentionally Omitted] | 30 | |||
Section 9.13 Counterparts | 30 | |||
Section 9.14 APPLICABLE LAW | 30 | |||
Section 9.15 Subrogation | 31 | |||
Section 9.16 Headings | 31 | |||
Section 9.17 Conflict | 31 | |||
Section 9.18 CONSENT TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL | 31 | |||
Section 9.19 Limitation on Interest | 32 | |||
Section 9.20 Further Assurances | 33 | |||
Section 9.21 Future Advances | 33 |
Exhibit A | — | Legal Description | ||
Exhibit B | — | Description of Permitted Encumbrances |
iii
Page 1
LEASES AND RENTS AND FIXTURE FILING
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GRANTOR: | ||||||
BEACH HOTEL ASSOCIATES LLC, a Delaware limited liability company | ||||||
By: Morgans Group LLC, a Delaware limited liability company | ||||||
Its: Sole Member | ||||||
By: | ||||||
Title: | ||||||
By: | ||||||
Title: | ||||||
Address for Notices: | ||||||
c/o Morgans Group, LLC | ||||||
475 Tenth Avenue | ||||||
New York, New York 10018 | ||||||
Attention: Richard Szymanski | ||||||
Telecopy Number: (212) 277-4270 | ||||||
Telephone Number: (212) 277-4188 |
Page 35
STATE OF _________ | ) | |||||
) | SS: | |||||
COUNTRY OF ______ | ) |
Notary: | ||||
[NOTARIAL SEAL] | Print Name: | |||
NOTARY PUBLIC, STATE OF | ||||
My commission expires |
of
EXHIBIT K
to
SECURITY INSTRUMENT
Leila Rachlin, Esq.
White & Case LLP
1155 Avenue of the Americas
New York, New York 10036
1111779-2180
(As Agent for the benefit of the Lenders and the Issuing Bank, and for its own account, pursuant to
the Credit Agreement herein described)
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ASSIGNOR: | ||||||||
BEACH HOTEL ASSOCIATES LLC | ||||||||
By: | Morgans Group LLC, | |||||||
its Sole Member | ||||||||
By: | Morgans Hotel Group Co., | |||||||
its Managing Member | ||||||||
By: | ||||||||
Name: | ||||||||
Title: |
STATE OF | ) | |||||
) | SS: | |||||
COUNTRY OF | ) |
Notary: | ||||
[NOTARIAL SEAL] | Print Name: | |||
NOTARY PUBLIC, STATE OF | ||||
My commission expires |
of
EXHIBIT L
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INDEMNITOR: | ||||||
MORGANS GROUP LLC | ||||||
By: | ||||||
Title: | ||||||
BEACH HOTEL ASSOCIATES LLC | ||||||
By: | ||||||
Title: |
to
EXHIBIT M
AND SUBORDINATION OF MANAGEMENT FEES
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Page 4
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GRANTOR: | ||||||
BEACH HOTEL ASSOCIATES LLC | ||||||
By: | ||||||
Title: | ||||||
MANAGER: | ||||||
MORGANS HOTEL GROUP MANAGEMENT LLC | ||||||
By: | ||||||
Title: | ||||||
Acknowledged: | ||||||
DEUTSCHE BANK TRUST COMPANY AMERICAS, as Agent | ||||||
By: | ||||||
Title: |
Page 8
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PLEDGOR: | ||||||
MORGANS GROUP LLC | ||||||
By: | ||||||
Title: | ||||||
Agreed to, accepted and acknowledged as of the | ||||||
date first written above. | ||||||
PLEDGEE: | ||||||
DEUTSCHE BANK TRUST COMPANY AMERICAS, as Agent | ||||||
By: | ||||||
Title: |
to
PLEDGE AGREEMENT
of
EXHIBIT P
Jurisdiction | Class of | Certificate | ||||||||||
of Formation | Equity | Number (if | Percentage of | |||||||||
Pledgor | Issuer | of Issuer | Interest | any) | Ownership | |||||||
Morgans Group LLC | Beach Hotel Associates LLC | Delaware | Membership Interests | N/A | 100 | % |
Location of Chief | ||||||||
Jurisdiction of | Organizational ID | Executive | ||||||
Pledgor | Formation | No. | Office | |||||
Morgans Group LLC | Delaware | 4049027 | 475 Tenth Avenue New York, New York 10018 |
to
PLEDGE AGREEMENT
of
EXHIBIT P
[ISSUER] | ||||||
By: | ||||||
Title: |
1 | Include only if the Issuer is a partnership or limited liability company. |
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GRANTOR: BEACH HOTEL ASSOCIATES LLC | ||||
By: | ||||
Name: | ||||
Title: |
Agreed to, accepted and acknowledged as of the date first written above. SECURED PARTY: DEUTSCHE BANK TRUST COMPANY AMERICAS, as Agent | ||||
By: | ||||
Name: | ||||
Title: |
to
SECURITY AGREEMENT
of
EXHIBIT Q
to
SECURITY AGREEMENT
of
EXHIBIT Q
to
SECURITY AGREEMENT
of
EXHIBIT Q
ORGANIZATIONAL ID NUMBERS, LOCATIONS, ETC.
Location of | ||||||||
Organizational | Chief Executive | |||||||
Name | Jurisdiction | Federal Tax ID | ID | Office | ||||
Beach Hotel Associates LLC | Delaware | 20-1487269 | DE 2345191 | 1685 Collins Avenue Miami Beach, FL 33139 USA |
to
SECURITY AGREEMENT
of
EXHIBIT Q
to
SECURITY AGREEMENT
of
EXHIBIT Q
Financial Institution(s) | ||||||
where Accounts Maintained | Name of Account | Account Numbers | ||||
JPMorgan Chase | Development Account | 114-742642 | ||||
Mellon United Bank | Operating/Disbursement account | 0101006021 | ||||
Mellon United Bank | Payroll Account | 0101002327 | ||||
Mellon United Bank | Travel Agent Account | 0101006039 | ||||
Mellon United Bank | Payroll | 0101020980 | ||||
Mellon United Bank | Operating | 0101020998 | ||||
Wachovia | Cash Collateral Account | 2000035272034 |
to
SECURITY AGREEMENT
of
EXHIBIT Q
to
SECURITY AGREEMENT
of
EXHIBIT Q
to
SECURITY AGREEMENT
of
EXHIBIT Q
Page 2
to
SECURITY AGREEMENT
of
EXHIBIT Q
Page 3
to
SECURITY AGREEMENT
of
EXHIBIT Q
Page 4
[GRANTOR] | ||||
By: | ||||
Name: | ||||
Title: |
DEUTSCHE BANK TRUST COMPANY AMERICAS, as Agent | |||
By: | |||
Name: | |||
Title: |
to
[COPYRIGHT] [PATENT] [TRADEMARK] SECURITY AGREEMENT
of
EXHIBIT Q
(INCLUDE ONLY U.S. REGISTERED INTELLECTUAL PROPERTY)
to
[COPYRIGHT] [PATENT] [TRADEMARK] SECURITY AGREEMENT
of
EXHIBIT Q
Page 2
Page 2
By: | ||||
Name: | ||||
Title: | Chief Financial Officer |
of
EXHIBIT R
475 Tenth Avenue
New York, New York 10018
Attn: Richard Szymanski
Telephone: (212) 277-4188
Telecopy: (212) 277-4270
Page 2
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Page 4
Very truly yours, [NAME OF EACH INCREMENTAL LENDER] | ||||
By | ||||
Name: | ||||
Title |
Agreed and Accepted this [_____] day of [_____, 201_]: MORGANS GROUP LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
BEACH HOTEL ASSOCIATES LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
DEUTSCHE BANK TRUST COMPANY AMERICAS, as Agent | ||||
By: | ||||
Name: | ||||
Title: | ||||
By: | ||||
Name: | ||||
Title: |
Page 5
[EACH GUARANTOR], as a Guarantor | |||
By: | |||
Name: | |||
Title: |
1. | Name of the Borrowers: Morgans Group LLC and Beach Hotel Associates LLC | |
2. | Incremental Commitment amounts (as of the Agreement Effective Date): |
Names of Incremental Lenders | Amount of Incremental Commitment | |
Total:1 |
3. | Applicable Margins to be applicable to all Loans2 | |
4. | Other Conditions Precedent:3 |
1 | The aggregate amount of Incremental Commitments must be at least $5,000,000 (or such lesser amount that is acceptable to the Agent). The aggregate amount of all Incremental Commitments permitted to be provided pursuant toSection 2.12 of the Credit Agreement shall not exceed in the aggregate $10,000,000. | |
2 | Insert the Applicable Margins that shall apply to the Loans to be made pursuant to the Incremental Commitments being provided hereunder,provided if the Applicable Margins with respect to the Loans to be incurred pursuant to an Incremental Commitment shall be higher in any respect than those applicable to any other Loans, the Applicable Margins for the other Loans and extension of credit under the Credit Agreement shall be automatically increased as and to the extent needed to eliminate any deficiencies in accordance with the definition of “Applicable Margin” in the Credit Agreement. | |
3 | Insert any additional conditions precedent which may be required to be satisfied prior to the Agreement Effective Date. |
Page 2
OWNER: | ||||||
BEACH HOTEL ASSOCIATES LLC, a Delaware limited liability company | ||||||
By: | Morgans Group LLC, its sole member | |||||
By: | Morgans Hotel Group Co., its managing member | |||||
By: | ||||||
Title: |
1. | Agreement of Lease, dated as of June 30, 2005, by and between Beach Hotel Associates LLC, as landlord and Base USA, Inc., as tenant. |
2. | Lease, dated as of January 1, 2000, by and between Beach Hotel Associates LLC, as landlord and SC Collins LLC, as tenant, as amended by the First Amendment to Lease, dated as of July [_____], 2011, by and between Beach Hotel Associates LLC, as landlord and SC Collins LLC, as tenant. |
6
BEACH HOTEL ASSOCIATES LLC, a Delaware limited liability company | ||||||
By: | Morgans Group LLC, its sole member | |||||
By: | Morgans Hotel Group Co., its managing member | |||||
By: | ||||||
Title: | ||||||
MORGANS GROUP LLC, a Delaware limited liability company | ||||||
By: | ||||||
Name: | ||||||
Title: |
7
of
CLOSING CERTIFICATION