Fifteenth Amendment to Second Amended and Restated Agreement of Limited Partnership of Prentiss Properties Acquisition Partners, L.P.

Contract Categories: Business Formation › Limited Partnership Agreements
Summary

This amendment involves Prentiss Properties I, Inc. (the general partner), Belport Realty Corporation (the assignor), and Belair Real Estate Corporation (the assignee). Belport Realty Corporation is transferring 36,464 Series B Preferred Units in Prentiss Properties Acquisition Partners, L.P. to Belair Real Estate Corporation. The amendment updates the partnership agreement to admit Belair Real Estate Corporation as a substitute limited partner for these units, and the assignee agrees to be bound by the partnership's terms. The amendment is effective as of March 14, 2001.

Read More Arrow
EX-10.1 3 dex101.txt AGREEMENT OF LIMITED PARTNERSHIP EXHIBIT 10.1 PRENTISS PROPERTIES ACQUISITION PARTNERS, L.P. Fifteenth Amendment to the Second Amended and Restated Agreement of Limited Partnership of Prentiss Properties Acquisition Partners, L.P. RECITALS A. Belport Realty Corporation ("Assignor") desires to assign and -------- Belair Real Estate Corporation ("Assignee") desires to acquire 36,464 8.30% -------- Series B Cumulative Redeemable Perpetual Preferred Units (the "Units") of ----- Prentiss Properties Acquisition Partners, L.P. (the "Partnership"). ----------- Pursuant to Article XI of the Second Amended and Restated Agreement of Limited Partnership, as amended (as so amended, the "Agreement"), of the --------- Partnership, Prentiss Properties I, Inc. as the sole general partner of the Partnership (the "General Partner"), desires to amend the Agreement to admit --------------- Assignee as a Substitute Limited Partner with respect to the Assigned Units. NOW, THEREFORE, the General Partner hereby adopts the following amendment to the Agreement. 1. Exhibit A to the Agreement is hereby amended and restated in its entirety as set forth on Exhibit A attached hereto. --------- 2. Assignee accepts and agrees to be bound by the terms and provisions of the Agreement. [Signature Page Follows] 1 IN WITNESS WHEREOF, the General Partner and the Assignee have executed this Fifteenth Amendment as of March 14, 2001. GENERAL PARTNER PRENTISS PROPERTIES I, INC. By: /s/ Michael A. Ernst Name: Michael A. Ernst Title: CFO ASSIGNEE AND SUBSTITUTE LIMITED PARTNER: BELAIR REAL ESTATE CORPORATION By: /s/ Thomas E. Faust, Jr. Name: Thomas E. Faust, Jr. Title: Executive Vice President 2