Mezzanine B Loan Extension Notice dated August 17, 2020 between North Tower Mezzanine II, LLC, as Borrower, and ORED II Holdings Sub-Holdings 2, LLC, as Lender
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EX-10.19 5 dtla2020123110kex1019.htm EX-10.19 Document
Exhibit 10.19
North Tower Mezzanine II, LLC
c/o Brookfield Properties
250 Vesey Street, 15th Floor
New York, NY 10281
August 17, 2020
Via Electronic Mail
ORED II Holdings Sub-Holdings 2, LLC
c/o Oaktree Capital Management
MKTran@oaktreecapital.com
Attention: Mai Tran
Re: North Tower Mezzanine II, LLC - 333 S. Grand Avenue, Los Angeles, California
Reference is hereby made to that certain loan (with a maximum committed balance of $35,000,000) issued pursuant to that certain Mezzanine B Loan Agreement dated as of September 21, 2018, as amended and assigned (the “Loan Agreement”), between North Tower Mezzanine II, LLC (“Borrower”) and ORED II Holdings Sub-Holdings 2, LLC (“Lender”). Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement.
Pursuant to Section 2.9 of the Loan Agreement, Borrower is hereby exercising its option to extend the term of the Loan from the Initial Maturity Date, set to occur October 9, 2020, to the first Extended Maturity Date occurring October 9, 2021 by giving written notice to Lender not more than ninety (90) days, but not less than thirty (30) days, prior to the Initial Maturity Date.
Please feel free to contact Jason Kirschner at Jason.kirschner@brookfieldproperties.com or (212 ###-###-####) directly with any questions.
Please countersign this letter in the space provided below confirming your approval to the matters contained herein. Thank you.
Very truly yours,
North Tower Mezzanine II, LLC By:/s/Jason Kirschner Name: Jason Kirschner Title: Authorized Signatory | |||||
Exhibit 10.19
Acknowledged and agreed to by:
LENDER
ORED II HOLDINGS SUB-HOLDINGS 2, LLC
By:__________________________
Name:
Title:
