Bank Credit Facility
means the Sixth Amended and Restated Revolving
Credit and Term Loan Agreement dated as of December 10, 2014 among Life Storage, Inc. and the operating partnership, Wells Fargo Bank, National Association, Manufacturers and Traders Trust Company and certain other lenders a party thereto or
which may become a party thereto (collectively, the Lenders), Manufacturers and Traders Trust Company, as administrative agent for itself and the other Lenders, Wells Fargo Bank, National Association, as syndication agent, and U.S. Bank
National Association, HSBC Bank USA, National Association, PNC Bank, National Association, and SunTrust Bank as
co-documentation
agents, for themselves and the other Lenders, as the same may be amended,
restated, modified, renewed, refunded, supplemented, replaced or refinanced in whole or in part from time to time.
Government
Obligations
means securities which are:
|
1)
|
direct obligations of the United States of America or the government which issued the currency in which the
debt securities of a particular series are payable; or
|
|
2)
|
obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United
States of America, or the government which issued the currency in which the debt securities of that series are payable, the payment of which is unconditionally guaranteed by such government;
|
|
3)
|
which in either case, are full faith and credit obligations of the United States of America or that other
government, and are not callable or redeemable at the option of the issuer thereof, and will also include a depositary receipt issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific payment of
interest on or principal of any such Government Obligation held by that custodian for the account of the holder of a depositary receipt, provided that (except as required by law) the custodian is not authorized to make any deduction from the amount
payable to the holder of that depositary receipt from any amount received by the custodian in respect of the Government Obligation or the specific payment of interest on or principal of the Government Obligation evidenced by such depositary receipt.
|
Subsidiary
means, as to any person, (a) any corporation more than 50% of whose stock of any
class or classes having by the terms thereof ordinary voting power to elect a majority of the directors of such corporation (irrespective of whether or not at the time, any class or classes of stock of such corporation shall have or might have
voting power by reason of the lapse of time or the happening of any contingency) is at the time owned by such person directly or indirectly through Subsidiaries, and (b) any partnership, association, joint venture, limited liability company,
trust or other entity in which such person directly or indirectly through Subsidiaries has more than a 50% equity interest or 50% Capital Percentage at any time. For the purpose of this definition, Capital Percentage means, with respect
to the interest of Life Storage, Inc., the operating partnership or one of its Subsidiaries in any partnership, association, joint venture, limited liability company, trust or other entity, the percentage interest of such partnership, association,
joint venture, limited liability company, trust or other entity based on the aggregate amount of net capital contributed by Life Storage, Inc., the operating partnership or such Subsidiary in such partnership, association, joint venture, limited
liability company, trust or other entity at the time of determination relative to all capital contributions made in such partnership, association, joint venture, limited liability company, trust or other entity at such time of determination.
United States Alien
means any corporation, partnership, individual or fiduciary that is, as to the United States, a foreign
corporation, a nonresident alien individual, a nonresident fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which is, as to the United States, a foreign corporation, a nonresident alien individual or a
nonresident fiduciary of a foreign estate or trust.
BOOK-ENTRY SECURITIES
The securities offered by means of this prospectus and any related prospectus supplement may be issued in whole or in part in book-entry form,
meaning that beneficial owners of the securities may not receive certificates
- 27 -