First Amendment to Eleventh Amended and Restated Agreement of Limited Partnership of AMB Property II, L.P.

Contract Categories: Business Formation › Limited Partnership Agreements
Summary

This amendment, dated July 14, 2003, involves AMB Property Holding Corporation (as general partner) and the limited partners of AMB Property II, L.P. It updates the partnership agreement to reflect the repurchase and redemption of 66,300 Series F Preferred Units from a limited partner, Bailard, Biehl & Kaiser Technology Exchange Fund, LLC. The amendment replaces Exhibit A to show the new partnership interests and confirms that all other terms of the original agreement remain unchanged.

Read More Arrow
EX-10.1 4 f92377exv10w1.txt EXHIBIT 10.1 Exhibit 10.1 AMB PROPERTY II, L.P. FIRST AMENDMENT TO ELEVENTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP This First Amendment (this "Amendment") is made as of July 14, 2003 by AMB PROPERTY HOLDING CORPORATION, a Maryland corporation, as general partner (the "General Partner") of AMB PROPERTY II, L.P., a Delaware limited partnership (the "Partnership"), and as attorney-in fact for each of the limited partners of the Partnership (collectively, the "Limited Partners") for the purpose of amending the Eleventh Amended and Restated Agreement of Limited Partnership of the Partnership dated as of July 31, 2002 (the "Partnership Agreement"). All defined terms used herein but not defined herein have the meanings assigned to them in the Partnership Agreement. WHEREAS, pursuant to Section 7.3D(ii) of the Partnership Agreement, the Partnership Agreement may be amended by the General Partner to reflect a reduction in Partnership Units in accordance with the Partnership Agreement; and WHEREAS, on the date hereof, the Partnership has repurchased and redeemed 66,300 of the Partnership's 7.95% Series F Cumulative Redeemable Preferred Units (the "Series F Preferred Units") from Bailard, Biehl & Kaiser Technology Exchange Fund, LLC, a Delaware limited liability company (the "Series F Limited Partner") pursuant to the terms of a Preferred Unit Repurchase Agreement, entered into by and among the Partnership, the General Partner and the Series F Limited Partner; and WHEREAS, pursuant to the authority granted to the General Partner under the Partnership Agreement, the General Partner desires to amend Exhibit A of this Agreement to reflect the reduction of outstanding Series F Preferred Units reflected on Exhibit A hereto; and NOW THEREFORE, pursuant to Sections 2.4 and 7.3D of the Partnership Agreement, the General Partner, on its own behalf and as attorney-in-fact for the Limited Partners, hereby amends the Partnership Agreement as follows: SECTION 1. Amendment of Exhibit A to the Partnership Agreement. Exhibit A to the Partnership Agreement is deleted in its entirety and replaced with Exhibit A attached hereto. SECTION 2. Miscellaneous. 2.1 Governing Law. This Amendment shall be construed under and governed by the internal laws of the State of Delaware without regard to its conflict of laws provisions. SECTION 3. Partnership Agreement. The Partnership Agreement and this Amendment shall be read together and shall have the same effect as if the provisions of the Partnership Agreement and this Amendment were contained in one document. Any provisions of the 1 Partnership Agreement not amended by this Amendment shall remain in full force and effect as provided in the Partnership Agreement immediately prior to the date hereof. [Remainder of Page Left Intentionally Blank] 2 IN WITNESS WHEREOF the parties hereto have caused this Amendment to be executed as of the date set forth above by their duly authorized representatives. GENERAL PARTNER: AMB PROPERTY HOLDING CORPORATION, a Maryland corporation By: /s/ Michael A. Coke ---------------------------------------- Michael A. Coke Executive Vice President and Chief Financial Officer COMMON LIMITED PARTNER: AMB PROPERTY, L.P., a Delaware limited partnership By: AMB Property Corporation, its general partner By: /s/ Michael A. Coke ---------------------------------------- Michael A. Coke Executive Vice President and Chief Financial Officer GENERAL PARTNER OF COMMON LIMITED PARTNER: AMB PROPERTY CORPORATION, a Maryland corporation By: /s/ Michael A. Coke ---------------------------------------- Michael A. Coke Executive Vice President and Chief Financial Officer S-1 LIMITED PARTNERS: By: AMB PROPERTY HOLDING CORPORATION, a Maryland corporation, as attorney-in-fact for each of the Limited Partners By: /s/ Michael A. Coke ---------------------------------- Michael A. Coke Executive Vice President and Chief Financial Officer S-2 EXHIBIT A PARTNERS, CONTRIBUTIONS, AND PARTNERSHIP INTERESTS I. COMMON UNITS
Agreed Value Contribution Cash of Contributed Total Partnership Percentage Name of Partner Date Contributions Property Contributions Units Interest - --------------- ---- ------------- -------- ------------- ----- -------- GENERAL PARTNER: AMB Property Holding Corporation 11/26/97 -- $ 3,626,023 $ 3,626,023 172,668 .99725% LIMITED PARTNERS: AMB Property, L.P. 11/26/97 -- $358,976,301 $358,976,301 17,094,110 98.72782% 06/30/98 -- $ 1,161,489 $ 1,161,489 47,602 .27493% ------------ ------------ ------------ ---------- -------- TOTAL COMMON UNITS -- $363,763,813 $363,763,813 17,314,380 100.0000% ------------ ------------ ------------ ---------- --------
EXHIBIT A PARTNERS, CONTRIBUTIONS, AND PARTNERSHIP INTERESTS II. SERIES C PREFERRED UNITS
Agreed Value Series C Contribution Cash of Contributed Total Partnership Percentage Name of Partner Date Contributions Property Contributions Units Interest - --------------- ---- ------------- -------- ------------- ----- -------- LIMITED PARTNER: Belcrest Realty Corporation 11/24/98 $ 24,000,000 -- $ 24,000,000 480,000 21.81818% Belair Real Estate Corporation 11/24/98 $ 86,000,000 -- $ 86,000,000 1,720,000 78.18182% Belcrest Realty Corporation 2/23/99 -- -- -- 381,000 17.31818% Belair Real Estate Corporation 2/23/99 -- -- -- (381,000) (17.31818%) Belcrest Realty Corporation 4/29/99 -- -- -- 239,000 10.86364% Belair Real Estate Corporation 4/29/99 -- -- -- (239,000) (10.86364%) Argosy Realty Corporation 7/9/99 -- -- -- 32,506 1.47755% Belmar Realty Corporation 7/9/99 -- -- -- 32,506 1.47755% Belport Realty Corporation 7/9/99 -- -- -- 32,506 1.47755% Belrieve Realty Corporation 7/9/99 -- -- -- 32,506 1.47755% Belair Real Estate Corporation 7/9/99 -- -- -- (130,024) (5.91018%) Belcrest Realty Corporation 7/28/99 -- -- -- 300,000 13.63636% Belair Real Estate Corporation 7/28/99 -- -- -- (300,000) (13.63636%) Belmar Realty Corporation 3/17/00 -- -- -- (32,506) (1.47755%) Belcrest Realty Corporation 3/17/00 -- -- -- (250,000) (11.36364%) Belair Real Estate Corporation 3/17/00 -- -- -- 282,506 12.84118% Belair Real Estate Corporation 12/19/00 -- -- -- 32,506 1.47755% ------------ -------------- ------------ ---------- --------- Altavera Realty Corporation, 12/19/00 -- -- -- (32,506) (1.47755%) formerly known as Belrieve Realty Corporation ============ ============== ============ ========== ========= Belport Realty Corporation 3/14/01 -- -- -- (32,506) (1.47755%) ============ ============== ============ ========== ========= Belair Real Estate Corporation 3/14/01 -- -- -- 32,506 1.47755% ============ ============== ============ ========== ========= Argosy Realty Corporation 12/5/01 -- -- -- (32,506) (1.47755%) ============ ============== ============ ========== ========= Belair Real Estate Corporation 12/5/01 -- -- -- (1,017,494) (46.24972%) ============ ============== ============ ========== ========= Belcrest Realty Corporation 12/5/01 -- -- -- (1,150,000) (52.27272%) ============ ============== ============ ========== ========= TOTAL SERIES C PREFERRED UNITS $110,000,000 -- $110,000,000 0 000.0000% ============ ============== ============ ========== =========
III. SERIES D PREFERRED UNITS
Agreed Value Series D Contribution Cash of Contributed Total Partnership Percentage Name of Partner Date Contributions Property Contributions Units Interest - --------------- ---- ------------- -------- ------------- ----- -------- LIMITED PARTNER: J.P. Morgan Mosaic Fund, LLC 5/5/99 $79,766,850 -- $ 79,766,850 1,595,337 100.0000% J.P. Morgan Mosaic Fund, LLC 12/31/01 -- -- -- (1,595,337) (100.0000%) JPM Mosaic I REIT, Inc. 12/31/01 -- -- -- 1,595,337 100.0000% ------------ -------------- ------------ ---------- --------- TOTAL SERIES D PREFERRED UNITS $79,766,850 -- $ 79,766,850 1,595,337 100.0000% ============ ============== ============ ========== =========
IV. SERIES E PREFERRED UNITS
Agreed Value Series E Contribution Cash of Contributed Total Partnership Percentage Name of Partner Date Contributions Property Contributions Units Interest - --------------- ---- ------------- -------- ------------- ----- -------- LIMITED PARTNER: Fifth Third Equity Exchange 8/31/99 $11,022,000 -- $11,022,000 220,440 100.0000% Fund 1999, LLC ----------- -------------- ----------- ------- -------- TOTAL SERIES E PREFERRED UNITS $11,022,000 -- $11,022,000 220,440 100.0000% =========== ============== =========== ======= ========
V. SERIES F PREFERRED UNITS
Agreed Value Series F Contribution Cash of Contributed Total Partnership Percentage Name of Partner Date Contributions Property Contributions Units Interest - --------------- ---- ------------- -------- ------------- ----- -------- LIMITED PARTNER: Bailard, Biehl & Kaiser 3/22/00 $19,871,950 -- $19,871,950 397,439 100.0000% Technology Exchange Fund, LLC Bailard, Biehl & Kaiser 7/31/02 ($6,142,500) -- ($6,142,500) (130,000) (32.70942%) Technology Exchange Fund, LLC Bailard, Biehl & Kaiser 7/14/03 ($3,198,975) -- ($3,198,975) (66,300) (16.68181%) Technology Exchange Fund, LLC ----------- ------------- ----------- ------- -------- =========== ============= =========== ======= ======== TOTAL SERIES F PREFERRED UNITS $10,530,475 -- $10,530,475 201,139 100.0000% =========== ============= =========== ======= ========
VI. SERIES G PREFERRED UNITS
Agreed Value Series G Contribution Cash of Contributed Total Partnership Percentage Name of Partner Date Contributions Property Contributions Units Interest - --------------- ---- ------------- -------- ------------- ----- -------- LIMITED PARTNER: Bailard, Biehl & Kaiser 8/29/00 $1,000,000 -- $1,000,000 20,000 100.0000% Technology Exchange Fund, LLC Bailard, Biehl & Kaiser 7/31/02 -- -- -- (20,000) (100.0000%) Technology Exchange Fund, LLC ---------- ------------ ---------- ------- -------- ========== ============ ========== ======= ======== TOTAL SERIES G PREFERRED UNITS $1,000,000 -- $1,000,000 0 000.0000% ========== ============ ========== ======= ========
VII. SERIES H PREFERRED UNITS
Agreed Value Series H Contribution Cash of Contributed Total Partnership Percentage Name of Partner Date Contributions Property Contributions Units Interest - --------------- ---- ------------- -------- ------------- ----- -------- LIMITED PARTNER: J.P. Morgan Mosaic Fund IV, LLC 9/1/00 $42,000,000 -- $42,000,000 840,000 100.0000% J.P. Morgan Mosaic Fund IV, LLC 12/31/01 -- -- -- (840,000) (100.0000%) JPM Mosaic IV REIT, Inc. 12/31/01 -- -- -- 840,000 100.0000% ---------- ----------- ----------- -------- --------- TOTAL SERIES H PREFERRED UNITS $42,000,000 -- $42,000,000 840,000 100.0000% ========== =========== =========== ======== =========
VIII. SERIES I PREFERRED UNITS
Agreed Value Series I Contribution Cash of Contributed Total Partnership Percentage Name of Partner Date Contributions Property Contributions Units Interest - --------------- ---- ------------- -------- ------------- ----- -------- LIMITED PARTNER: J.P. Morgan Chase Mosaic Fund 3/21/01 $ 25,500,000 -- $ 25,500,000 510,000 100.0000% V, LLC J.P. Morgan Chase Mosaic Fund 12/31/01 -- -- -- (510,000) (100.0000%) V, LLC JPM Mosaic V REIT, Inc. 12/31/01 -- -- -- 510,000 100.0000% ------------ ----------- ------------ --------- --------- TOTAL SERIES I PREFERRED UNITS $ 25,500,000 -- $ 25,500,000 510,000 100.0000% ============ =========== ============ ========= ========= ------------ ----------- ------------ --------- --------- TOTAL ALL SERIES OF PREFERRED UNITS $269,288,850 -- $269,288,850 3,055,777 100.0000% ============ =========== ============ ========= =========