Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Hall of Fame Resort & Entertainment Co entered into First Amendment to Waterpark Ground Lease with HFAKOH001 LLC valued at $2,500,000.00 funding, increased base rent (effective 2024-02-23).
- Action
- entry
- Agreement
- lease
- Counterparty
- HFAKOH001 LLC
- Value
- $2,500,000.00 funding, increased base rent
- Effective
- 2024-02-23
Exact text from the filing
On February 23, 2024, HOF Village Waterpark, LLC (“HOFV Waterpark” or “Tenant”), an indirect subsidiary of the Hall of Fame Resort & Entertainment Company (the “Company”), a Delaware corporation, entered into a first amendment to lease agreement (“First Amendment to Lease”) with HFAKOH001 LLC (“Landlord”), an affiliate of Blue Owl Real Estate Capital, LLC (“Blue Owl”), to amend the existing water park ground lease to reflect: (a) Landlord’s funding for the benefit of the Tenant in the amount of $2,500,000.00, which is to be funded and used as follows: (i) $1,903.005.11 for the purpose of paying real estate taxes and other assessments; (ii) $388,679.36 for rent due from Tenant to Landlord under the Ground Lease for February; and (iii) $208,315.53 which may be used by any of Tenant for the purpose of construction of new improvements at the water park property, HOF Village Stadium, LLC (“Stadium Mortgagor”) for the purpose of paying taxes and assessments for the stadium property, or HOF V
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Hall of Fame Resort & Entertainment Co entered into Second Amendment to Waterpark Ground Lease with HFAKOH001 LLC valued at $1,000,000.00 funding, increased base rent, forbearance of rent for March and April 2024 (effective 2024-02-29).
- Action
- entry
- Agreement
- lease
- Counterparty
- HFAKOH001 LLC
- Value
- $1,000,000.00 funding, increased base rent, forbearance of rent for March and April 2024
- Effective
- 2024-02-29
Exact text from the filing
On February 29, 2024, Tenant entered into a second amendment to lease agreement (“Second Amendment to Lease”) with Landlord to memorialize: (a) Landlord’s forbearance of base rent due for March and April of 2024, which shall be due on May 1, 2024; (b) Landlord’s funding for the benefit of the Tenant of $1,000,000.00, which may be used (i) by Tenant for the purpose of construction of new improvements at the water park property; (ii) by HOF Village Stadium, LLC for the purpose of paying taxes and assessments due to governmental entities or Stark County Port Authority pursuant to the Project Lease; or (iii) by Guarantor for paying other necessary operating expenses; and (c) execution by HOF Village Newco, LLC (“Guarantor”) of an Open-End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (“Additional Parcels Mortgage”) for the benefit of HFAKOH001 LLC (“Mortgagee”) whereby Guarantor grants a security interest in certain parcels to Mortgagee, more fully describ
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