CONSOLIDATED FINANCIAL STATEMENTS

EX-10.8 4 a24787exv10w8.htm EXHIBIT 10.8 exv10w8
 

Exhibit 10.8
SECOND AMENDMENT TO
SECURED TERM LOAN AGREEMENT
     This SECOND AMENDMENT TO SECURED TERM LOAN AGREEMENT (this “Amendment”) is made as of November 3, 2006 (the “Effective Date”) by and among BIOMED REALTY, L.P., a Maryland limited partnership (the “Borrower”), KEYBANK NATIONAL ASSOCIATION and the several other banks and financial institutions identified on the signature pages hereof (the “Lenders”), and KEYBANK NATIONAL ASSOCIATION, not individually, but as “Agent”.
RECITALS
     A. The Borrower, the Agent and the Lenders are parties to a Secured Term Loan Agreement dated as of May 31, 2005, as amended by a First Amendment thereto dated as of June 28, 2006 (as it has been and may hereafter be amended from time to time, the “Loan Agreement”). All terms used herein and not otherwise defined shall have the same meanings given to them in the Loan Agreement.
     B. The Borrower and the Requisite Lenders wish to amend the Loan Agreement to modify certain covenants set forth in the Loan Agreement, all as set forth herein.
AGREEMENTS
          1. New Definition. As of the Effective Date, the following new definition is added to Section 1.1 of the Loan Agreement in the applicable alphabetical order:
     “CFLS Project” means that certain Project known as the Center for Life Sciences Building located at 3 Blackfan Street, Boston, Massachusetts, consisting of approximately 1.520 acres of land on which an eighteen (18) story office building/laboratory research center containing approximately 705,642 rentable square feet is under construction and which is being acquired in fee simple by a Wholly-Owned Subsidiary of Borrower.
          2. Permitted Investments. As of the Effective Date, Section 6.13(b) of the Loan Agreement is amended and restated to read as follows:
     (b) permit the sum of (i) the aggregate amount invested by the Consolidated Group in Projects owned by the Consolidated Group that are under development, excluding the CFLS Project, plus (ii) the Consolidated Group Pro Rata Share of any amounts so invested by the Investment Affiliates in Projects owned by the Investment Affiliates that are under development to exceed 20% of Gross Asset Value (with Projects under development ceasing to be treated as such when GAAP permits such Project to be classified as an operating asset);
          3. Exhibit B. To reflect the changes made by this Amendment, Exhibit B (Revised), Form of Compliance Certificate, is hereby deleted and replaced by Exhibit B (Second Revised) Form of Compliance Certificate attached to this Amendment and made a part hereof.

 


 

          4. Miscellaneous.
     (i) The Borrower represents and warrants to the Lenders that (i) after giving effect to this Amendment, no Default or Unmatured Default exists, (ii) the Loan Agreement is in full force and effect, and (iii) the Borrower has no defenses or offsets to, or claims or counterclaims, relating to, its obligations under the Loan Agreement.
     (ii) All of the obligations of the parties to the Loan Agreement, as amended hereby, are hereby ratified and confirmed. All references in the Loan Documents to the “Loan Agreement” henceforth shall be deemed to refer to the Loan Agreement as amended by this Amendment.
     (iii) Nothing contained in this Amendment shall be construed to disturb, discharge, cancel, impair or extinguish the indebtedness evidenced by the existing Notes and secured by the Loan Documents or waive, release, impair, or affect the liens arising under the Loan Documents or the validity or priority thereof.
     (iv) In the event of a conflict or inconsistency between the provisions of the Loan Documents and the provisions of this Amendment, the provisions of this Amendment shall govern. The provisions of this Amendment, the Loan Agreement, and the other Loan Documents are in full force and effect except as amended herein and the Loan Documents as so amended are ratified and confirmed hereby by the Borrower.
     (v) The Borrower agrees to reimburse the Agent for all reasonable out-of-pocket expenses (including legal fees and expenses) incurred in connection with the preparation, negotiation and consummation of this Amendment.
     (vi) This Amendment may be executed in counterparts which, taken together, shall constitute a single document.

 


 

     IN WITNESS WHEREOF, Borrower and the Requisite Lenders have caused this Second Amendment to Secured Term Loan Agreement to be duly executed as of the date first above written.
             
    BORROWER:
 
           
    BIOMED REALTY, L.P., a Maryland limited partnership
 
           
    By:   BioMed Realty Trust, Inc., its sole general partner
 
           
 
      By:   /s/ KENT GRIFFIN
 
           
 
      Name:   Kent Griffin
 
           
 
      Title:   Chief Financial Officer
 
           
 
           
    Address:
 
           
    The undersigned, being the Guarantors under the Agreement, hereby consent to this Amendment:
 
           
    BIOMED REALTY TRUST, INC.
 
           
 
      By:   /s/ KENT GRIFFIN
 
           
 
      Name:   Kent Griffin
 
           
 
      Title:   Chief Financial Officer
 
           
 
           
    EACH SUBSIDIARY GUARANTOR LISTED ON ATTACHMENT 1
 
           
    By:   BioMed Realty, L.P., a Maryland limited partnership, the sole member of each such Subsidiary Guarantor
 
           
    By:   BioMed Realty Trust, Inc., a Maryland corporation, its sole general partner
 
           
 
      By:   /s/ KENT GRIFFIN
 
           
 
      Name:   Kent Griffin
 
           
 
      Title:   Chief Financial Officer
 
           

 


 

         
    ADMINISTRATIVE AGENT:
 
       
    KEYBANK NATIONAL ASSOCIATION, a national banking
association, as Administrative Agent
 
       
 
  By:   /s/ SCOTT CHILDS
 
       
 
  Name:   Scott Childs
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    BANKS:
 
       
    KEYBANK NATIONAL ASSOCIATION, a national banking
association
 
       
 
  By:   /s/ SCOTT CHILDS
 
       
 
  Name:   Scott Childs
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    U.S. BANK NATIONAL ASSOCIATION, a national banking association
 
       
 
  By:   /s/ NICOLE K. WRIGHT
 
       
 
  Name:   Nicole K. Wright
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    SOCIETE GENERALE
 
       
 
  By:   /s/ C.H. BUTTERWORTH
 
       
 
  Name:   C.H. Butterworth
 
       
 
  Title:   Director
 
       
 
       
    Address:
 
       
    COMPASS BANK, an Alabama banking corporation
 
       
 
  By:   /s/ JOHANNA DUKE PALEY
 
       
 
  Name:   Johanna Duke Paley
 
       
 
  Title:   Senior Vice President
 
       
 
       
    Address:

 


 

         
 
       
    ALLIED IRISH BANKS, p.l.c.
 
       
 
  By:   /s/ DOUGLAS S. MARRON
 
       
 
  Name:   Douglas S. Marron
 
       
 
  Title:   Senior Vice President
 
       
 
       
 
  By:   /s/ THOMAS FRITTON
 
       
 
  Name:   Thomas Fritton
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    RAYMOND JAMES BANK, FSB
 
       
 
  By:   /s/ LAURENS F. SCHAAD JR.
 
       
 
  Name:   Laurens F. Schaad Jr.
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    GRAYSON & CO
 
       
 
  By:   Boston Management and Research, as Investment Advisor
 
       
 
  By:   /s/ PAYSON F. SWAFFIELD
 
       
 
  Title   Payson F. Swaffield
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    EATON VANCE VT FLOATING-RATE INCOME FUND
 
       
 
  By:   Eaton Vance Management, as Investment Advisor
 
       
 
  By:   /s/ PAYSON F. SWAFFIELD
 
       
 
  Title   Payson F. Swaffield
 
       
 
  Title:   Vice President
 
       
 
       
    Address:

 


 

         
 
       
    EATON VANCE LIMITED DURATION INCOME FUND
 
       
 
  By:   Eaton Vance Management, as Investment Advisor
 
       
 
  By:   /s/ PAYSON F. SWAFFIELD
 
       
 
  Title   Payson F. Swaffield
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    EATON VANCE SHORT DURATION DIVERSIFIED INCOME FUND
 
       
 
  By:   Eaton Vance Management, as Investment Advisor
 
       
 
  By:   /s/ PAYSON F. SWAFFIELD
 
       
 
  Title   Payson F. Swaffield
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    EATON VANCE SENIOR FLOATING-RATE TRUST
 
       
 
  By:   Eaton Vance Management, as Investment Advisor
 
       
 
  By:   /s/ PAYSON F. SWAFFIELD
 
       
 
  Title   Payson F. Swaffield
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    EATON VANCE FLOATING-RATE INCOME TRUST
 
       
 
  By:   Eaton Vance Management, as Investment Advisor
 
       
 
  By:   /s/ PAYSON F. SWAFFIELD
 
       
 
  Title   Payson F. Swaffield
 
       
 
  Title:   Vice President
 
       
 
       
    Address:

 


 

         
 
       
    EATON VANCE INSTITUTIONAL SENIOR LOAN FUND
 
       
 
  By:   Eaton Vance Management, as Investment Advisor
 
       
 
  By:   /s/ PAYSON F. SWAFFIELD
 
       
 
  Title   Payson F. Swaffield
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    EATON VANCE SENIOR INCOME TRUST
 
       
 
  By:   Eaton Vance Management, as Investment Advisor
 
       
 
  By:   /s/ PAYSON F. SWAFFIELD
 
       
 
  Title   Payson F. Swaffield
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    SENIOR DEBT PORTFOLIO
 
       
 
  By:   Boston Management and Research, as Investment Advisor
 
       
 
  By:   /s/ PAYSON F. SWAFFIELD
 
       
 
  Title   Payson F. Swaffield
 
       
 
  Title:   Vice President
 
       
 
       
    Address:
 
       
    VAN KAMPEN SENIOR LOAN FUND
 
       
 
  By:   Van Kampen Asset Management
 
       
 
  By:   /s/ CHRISTINA JAMIESON
 
       
 
  Name:   Christina Jamieson
 
       
 
  Title:   Executive Director
 
       
 
       
    Address:
 
       

 


 

         
    VAN KAMPEN SENIOR INCOME TRUST
 
       
 
  By:   Van Kampen Asset Management
 
       
 
  By:   /s/ CHRISTINA JAMIESON
 
       
 
  Name:   Christina Jamieson
 
       
 
  Title:   Executive Director
 
       
 
       
    Address:
 
       
    MORGAN STANLEY PRIME INCOME TRUST
 
       
 
  By:   /s/ JINNY K. KIM
 
       
 
  Name:   Jinny K. Kim
 
       
 
  Title:   Executive Director
 
       
 
       
    Address:
 
       
    PIONEER FLOATING RATE TRUST
 
       
 
  By:   /s/ M. JASON BLACKBURN
 
       
 
  Name:   M. Jason Blackburn
 
       
 
  Title:   Treasurer
 
       
 
       
    Address:
 
       
    HIGHLAND FLOATING RATE ADVANTAGE FUND
 
       
 
  By:   /s/ M. JASON BLACKBURN
 
       
 
  Name:   M. Jason Blackburn
 
       
 
  Title:   Treasurer
 
       
 
       
    Address:
 
       
    HIGHLAND LEGACY LIMITED
 
       
 
  By:   Highland Capital Management, L.P., as Collateral Manager
 
       
 
  By:   Strand Advisors, Inc., Its General Partner
 
       
 
  By:   /s/ BRIAN LOHRDING
 
       
 
  Name:   Brian Lohrding
 
       
 
  Title:   Treasurer
 
       
 
       
    Address:

 


 

         
 
       
    LOAN FUNDING IV LLC
 
       
 
  By:   Highland Capital Management, L.P., as Collateral Manager
 
       
 
  By:   Strand Advisors, Inc., Its General Partner
 
       
 
  By:   /s/ BRIAN LOHRDING
 
       
 
  Name:   Brian Lohrding
 
       
 
  Title:   Treasurer
 
       
 
       
    Address:
 
       
    JASPER CLO, LTD.
 
       
 
  By:   Highland Capital Management, L.P., as Collateral Manager
 
       
 
  By:   Strand Advisors, Inc., Its General Partner
 
       
 
  By:   /s/ BRIAN LOHRDING
 
       
 
  Name:   Brian Lohrding
 
       
 
  Title:   Treasurer
 
       
 
       
    Address:
 
       
    LOAN FUNDING VII LLC
 
       
 
  By:   Highland Capital Management, L.P., as Collateral Manager
 
       
 
  By:   Strand Advisors, Inc., Its General Partner
 
       
 
  By:   /s/ BRIAN LOHRDING
 
       
 
  Name:   Brian Lohrding
 
       
 
  Title:   Treasurer
 
       
 
       
    Address:
 
       
    EMERALD ORCHARD LIMITED
 
       
 
  By:   /s/ WENDY CHEUNG
 
       
 
  Name:   Wendy Cheung
 
       
 
  Title:   Authorized Signatory
 
       
 
       
    Address:

 


 

         
 
       
    GLENEAGLES CLO, LTD.
 
       
 
  By:   Highland Capital Management, L.P., as Collateral Manager
 
       
 
  By:   Strand Advisors, Inc., Its General Partner
 
       
 
  By:   /s/ BRIAN LOHRDING
 
       
 
  Name:   Brian Lohrding
 
       
 
  Title:   Treasurer
 
       
 
       
    Address:
 
       
    HFT REAL ESTATE CDO 2006 — 1, LTD
 
       
 
  By:   Highland Capital Management, L.P., as Collateral Manager
 
       
 
  By:   Strand Advisors, Inc., Its General Partner
 
       
 
  By:   /s/ BRIAN LOHRDING
 
       
 
  Name:   Brian Lohrding
 
       
 
  Title:   Treasurer
 
       
 
       
    Address: