INCREASE AGREEMENTIncrease Agreement • July 23rd, 2018 • Agree Realty Corp • Real estate investment trusts • New York
THIS INCREASE AGREEMENT (this “Agreement”) dated as of July 18, 2018 (the “Agreement”), is executed by each of the existing Revolving Lenders under (and as defined in) the Credit Agreement (as defined below) a signatory hereto (the “Increasing Lenders”), PNC BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Administrative Agent”), AGREE REALTY CORPORATION, a Maryland corporation (the “Parent”), and AGREE LIMITED PARTNERSHIP, a Delaware limited partnership (the “Borrower”).
REVOLVING NOTERevolving Note • July 23rd, 2018 • Agree Realty Corp • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned (the “Borrower”) hereby promises to pay to ______________________ or registered assigns (the “Lender”) in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of each Revolving Loan from time to time made by the Lender to the Borrower under that certain Amended and Restated Revolving Credit and Term Loan Agreement dated as of December 15, 2016 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; capitalized terms used but not defined herein shall have the meanings given to them in the Agreement), among Agree Realty Corporation, a Maryland corporation (the “Parent”), the Borrower, the Lenders from time to time party thereto, PNC Bank, National Association, as Administrative Agent (the “Administrative Agent”), Swing Line Lender and an L/C Issuer, and Citibank, N.A. and Wells Fargo Bank, National Association, each as an L/C Issuer.
