Section 1.01 Entering into a Material Definitive Agreement.
As part of the acquisition by
(the “Company” or “WHLR”) of Cedar Realty Trust, Inc. which was consummated on
The details of this debt refinancing are as follows:
Pursuant to the Loan Agreement, the Lender has agreed to provide the Borrower with a term loan in the principal amount of
The borrower’s obligations under the loan agreement are secured by customary mortgage securities.
Under the Loan Agreement, the Borrower is subject to certain financial covenants which, among other things, require the Borrower to cause
The Borrower shall use the proceeds of the Loan to refinance real estate owned by it, to pay various operating expenses and other charges in accordance with the Loan Agreement, to make deposits listed in various reserve funds established by the Loan Agreement, to pay customary closing costs and expenses associated with the Loan, to fund certain working capital requirements associated with real estate held by the Borrower and to distribute the balance, if any, to the borrower.
There is no material relationship between the Company and its affiliates and the Lender and its affiliates.
The foregoing description of the Indemnification Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of this Agreement, a copy of which is attached hereto as Schedule 10.1 and incorporated herein by reference.
The foregoing description of the Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of this Agreement, a copy of which is attached hereto as Schedule 10.2 and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information required by Section 2.03 contained in Section 1.01 of this Current Report on Form 8-K is incorporated by reference into this Section 2.03.
Item 9.01 Financial statements and supporting documents.
(d) Exhibits 10.1 Limited Recourse Indemnity Agreement made by
Wheeler REIT, L.P.in favor of Guggenheim Real Estate, LLCas of October 28, 2022.* 10.2 Term Loan Agreement dated October 28, 2022, between Guggenheim Real Estate LLC and the Borrowers party thereto*. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
* Attachments and/or exhibits have been omitted pursuant to Section 601(a)(5) of the
SK regulations. The declarant hereby undertakes to provide a copy of any document omitted
expose to the
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