Cbl Forbearance Agreement

CBL has entered into a forbearance agreement related to its 5.95% senior Unsecured Notes due 2026. The holders of the 2026 bonds have agreed not to exercise any rights and remedies with respect to the default resulting from the non-payment of the interest payment of $US 18.6 million due and payable on June 15. Section 3. Let go. 30, 2019. Under the Bank Forbearance Agreement, the agent has agreed, inter alia, on behalf of itself and the lenders, not to exercise rights and remedies under the credit agreement only with respect to specified defaults (as defined in the Bank Forbearance Agreement), including cross-default resulting from non-payment of interest on 2023 bonds or interest payment on 2026 bonds. The forbearance period under the Bank Forbearance Agreement ended on 15 July 2020 and the occurrence of one of the indicated early termination events. The forbearance period under the Note Forbearance Agreement 2026 ends on July 22, 2020 and the early termination event described therein. CBL & Associates Properties Inc., CBL & Associates LP and certain subsidiary guarantees have signed a guarantee agreement in respect of the 5.95% senior ratings of the operational partnership due 2026 and have amended the forbearance agreements for the 5.25% senior loans maturing in 2023 and a credit facility.

Two weeks ago, the company reached a similar agreement on part of its debt. The company is in talks with its lenders in the face of a sharp drop in its turnover caused by the appearance of the coronavirus. July 15, 27, 2020, CBL & Associates Limited Partnership (“Operating Partnership”), majority-owned by CBL & Associates Properties, Inc. (the “RSP”) (together, the Operating Partnership and reit is referred to as the “Company”) and certain subsidiary guarantees (the “Subsidiary Guarantors”) have entered into the following agreements. The leniency period for the credit agreement for which Wells Fargo Bank NA is the administrative agent was extended to 11:59 p.m. ET on August 5. As previously noted, on July 15, 2020, the parties to the 2023 Notes Forbearance Agreement entered into an amendment to the Forbearance Agreement 2023 Note to extend the forbearance period to July 22, 2020 and the early termination event described therein. CBL & Associates Properties Inc.

and its operating partnership CBL & Associates LP were received on July 29 further extensions of the forbearance periods for their credit agreement and two tranches of bonds. Section 9. Comprehensive agreement; amendment of the Agreement; Non-binding oral agreements. This amendment and the forbearance agreement represent the parties` full understanding of the subject matter of this Agreement and this Agreement and supersede all other discussions, promises, assurances, warranties, agreements and understandings with respect the matter. . . .