Extension Agreement to Stock Purchase Agreement between Trinity Place Holdings Inc. and TPHS Lender LLC/TPHS Investor LLC
Trinity Place Holdings Inc. and its investors, TPHS Lender LLC and TPHS Investor LLC, have agreed to extend the deadline for the company to complete its delisting process. The new deadline is June 28, 2024, and the investors may choose to extend it further at their discretion. This agreement modifies the original Stock Purchase Agreement and a prior letter agreement, focusing solely on the timing for the delisting requirement.
Exhibit 10.1
Extension Agreement by email delivered April 12, 2024, reading:
Reference is made to that certain Stock Purchase Agreement, dated as of January 5, 2024 (as amended, the “SPA”), by and between Trinity Place Holdings Inc., a Delaware corporation (the “Company”), TPHS Lender LLC, a Delaware limited liability company (the “Company Investor”) and TPHS Investor LLC, a Delaware limited liability company (the “JV Investor”, and together with the Company Investor, the “Investor”), and the Letter Agreement, dated as of March 27, 2024, between the Company and the Investor (the “Letter Agreement”).
The Investor and the Company hereby agree that the date by which the Company must complete the Delisting (as defined in the SPA) as provided in Section 6(f) of the SPA and as extended pursuant to the Letter Agreement is hereby further extended by sixty (60) days, such that the Company shall now be required to complete the Delisting process not later than June 28, 2024, which the Investor may agree, in its sole discretion, to further extend.
