Reading International, Inc. through its subsidiaries, Reading Tammany Owner, LLC and US Development, LLC obtained a loan in the original principal amount of $55.0 million from Emerald Creek Capital 3, LLC pursuant to a first mortgage loan agreement, dated May 7, 2021, which Loan is secured by a first priority security interest in 44 Union Square, New York, New York. The principal terms of the Loan are as follows: (i) the term of the Loan is three years with two one-year options to extend; (ii) the amortization schedule is interest only for the entire term at an interest rate equal to one month LIBOR plus six and ninety hundredths percent with a floor of seven percent; and (iii) Borrowers may prepay the Loan at any time on sixty days’ notice subject to a prepayment fee equal to the positive difference between the interest paid up to and including the prepayment date and twelve month’s interest. In other words, there is effectively no prepayment fee if the Loan is prepaid after the first twelve months. The Company has provided certain guarantees and indemnities in support of the Loan including a carry guaranty, a completion guaranty, a recourse guaranty and an environmental indemnity.