Invesco Commercial Real Estate Finance Trust Inc.
04/29/2024 | Press release | Distributed by Public on 04/29/2024 14:11
Material Agreement - Form 8-K
Item 1.01 Entry into a Material Definitive Agreement.
On April 24, 2024, Invesco Commercial Real Estate Finance Trust, Inc. (the "Company"), Invesco Commercial Real Estate Finance Investments, LP, and Invesco Advisers, Inc. (the "Adviser"), entered into an Amended and Restated Advisory Agreement (the "Amended and Restated Advisory Agreement"). Capitalized terms used below are defined in the Amended and Restated Advisory Agreement, a copy of which is filed herewith.
The Amended and Restated Advisory Agreement amended the prior agreement to (i) extend the time during which the Adviser will advance Organization, Offering and Operating Expenses from March 31, 2024 to May 31, 2024, (ii) clarify the calculation of the Management Fee, and (iii) provide that the Adviser will have the right to nominate, subject to the approval of such nomination by the Company's board of directors, three Directors who are Affiliated with the Adviser to the slate of Directors to be voted on by the Stockholders at the Company's annual meeting of Stockholders; provided, however, that such number of director nominees shall be reduced as necessary by a number that will result in a majority of the Directors being Independent Directors.
The summary of the Amended and Restated Advisory Agreement set forth above does not purport to be a complete summary of the terms thereof and is qualified in its entirety by the Amended and Restated Advisory Agreement, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.