Deferred Rent Agreement between Crescent Real Estate Equities, Vornado Realty Trust, and AmeriCold Logistics LLC (March 7, 2003)

Summary

This agreement, dated March 7, 2003, is between Crescent Real Estate Equities and Vornado Realty Trust (the Landlord) and AmeriCold Logistics LLC (the Tenant). The parties agree to extend the period during which the Tenant can defer rent payments under their existing leases, moving the end date from December 31, 2003, to December 31, 2004. This extension is a preliminary step toward a broader restructuring of the lease agreements between the parties.

EX-10.43 10 y83716exv10w43.txt DEFERRED RENT AGREEMENT Exhibit 10.43 March 7, 2003 Crescent Real Estate Equities and Vornado Realty Trust (the "Landlord") acknowledge there will be a need to restructure the existing leases between Landlord and AmeriCold Logistics LLC (the "Tenant"). As a first step towards a larger lease restructure, the Landlord will extend the maturity of the current rent deferral period from December 31, 2003 to December 31, 2004. ACCEPTED BY LANDLORD - AMERICOLD REALTY TRUST THROUGH ITS OWNER VORNADO CRESCENT PORTLAND PARTNERSHIP: CRESCENT REAL ESTATE EQUITIES LIMITED PARTNERSHIP - PARTNER By: Crescent Real Estate Equities, Ltd., its general partner By: /s/ Jerry R. Crenshaw --------------------- Name: Jerry R. Crenshaw Title: Executive Vice President, Chief Financial Officer VORNADO REALTY, L.P. - Partner By: Vornado Realty Trust, its general partner By: /s/ Joseph Macnow ----------------- Name: Joseph Macnow Title: Chief Financial Officer ACCEPTED BY TENANT - AMERICOLD LOGISTICS, LLC THROUGH ITS OWNER VORNADO CRESCENT LOGISTICS OPERATING PARTNERSHIP: CRESCENT OPERATING, INC. - PARTNER By: /s/ Jeff Stevens ------------------- VORNADO OPERATING COMPANY - PARTNER By: /s/ Joseph Macnow ----------------- Name: Joseph Macnow Title: Chief Financial Officer