GKK » Topics » (b) inserting a new clause SEVENTH PRIME as set forth immediately below and deleting the term and at the end of the existing clause SEVENTH:

This excerpt taken from the GKK 8-K filed Apr 8, 2009.

(b) inserting a new clause “SEVENTH PRIME” as set forth immediately below and deleting the term “and” at the end of the existing clause “SEVENTH”:

 

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SEVENTH PRIME, to the extent of funds then remaining available therefor after giving effect to the foregoing clauses, an amount equal to the sum of (i) (100% of the principal payments made on the Specified Assets, 100% of all other fees and payments of any kind, excluding default interest and including 60% of the Net Interest Margin for the period ending on the relevant Payment Date; minus (ii) any such amounts previously applied pursuant to clause FIFTH above, pari passu and pro rata (based on the amounts owed to such Persons under this clause) to the Lenders to prepay principal amounts of Loans under this Agreement allocated to the Specified Assets ratably (excluding 1199 F Street from such allocation until the principal amount relating to all other Loans has been paid in full, and then making such allocation entirely to 1199 F Street), and thereafter make a corresponding reduction to the related Allocated Term Loan Amounts (and, solely to the extent of amounts available pursuant to this clause, such principal amounts shall be deemed to be then due and payable); and

 

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