Agreement Introduction. Allocable Share Section 8.1(c)(i) Applicable Information Section 12.11(b)(iii) Applicable Vehicles Section 6.6(b) Appraisal Date Section 6.3(e)(i) Appraisal Notice Section 6.3(e)(iii) Appraised Value Section 6.3(e)(vi) Appraisers Section 6.3(e)(iv) Approval of the Executive Committee Section 3.2 Approved Section 3.2 Approved Investment Section 4.1(b) Approved Partnership Budget Section 6.2(c) Arbitration Notice Section 9.4 BCIMC Section 12.11(b)(iii) BCIMC Accident Fund Partner Introduction BCIMC Accident Fund Partner Subscription Agreement Recitals BCIMC Limited Partner Introduction BCIMC Parties Section 12.11(b)(iv) BCIMC Pension Partner Introduction BCIMC Pension Partner Subscription Agreement Recitals BCIMC Representative Section 3.3(c) Benefit Plan Investor Section 12.8(k) Business Day Section 3.3(b) Buy-Sell Section 9.1(a)(i) Buy-Sell Closing Period Section 9.1(d)(i) Buy-Sell Deposit Section 9.1(c) Buy-Sell Notice Section 9.1(a)(i) Buy-Sell Price Section 9.1(a)(ii) Calculation Date Section 5.1(a) Capital Account Section 4.5 Capital Call Funding Period Section 4.3(d) Capital Call Notice Section 4.3(d) Capital Commitment Section 4.3(e) Capital Contributions Section 4.3(a) Carried Interest Amount Section 5.1(b) Carried Interest Deficiency Section 5.3(b) Carried Interest Distributions Section 5.1(c) Cash Available for Distribution Section 5.1(d) Cause Section 7.4(a) Cause Notice Section 7.4(b) CCE Section 2.2(e) Certificate of Limited Partnership Recitals Closing Period Section 8.1(c)(ii)(A) Code Section 2.2(c) Confidential Information Section 12.11(a) Contributing Partner Section 4.4(b) Control Section 12.9 Core Investment Section 2.2(b)(ii) CPR Section 7.4(b) Cumulative 6.5% Internal Rate of Return Amount Section 5.1(e) Cumulative 8.5% Internal Rate of Return Amount Section 5.1(f) Cure Date Section 4.4(c) Dallas Portfolio Section 5.1(g) Dallas Portfolio Cash Available for Distribution Section 5.1(h) Deadlock Event Section 3.2 Default Date Section 4.4(c) Default Period Section 4.4(c) Defaulting Partner Section 4.4(a) Deposit Section 8.1(c)(ii) Development Investment Section 2.2(b)(iii) Disputed Issue Section 7.4(b) Due Care Section 6.3(a) EC Indemnitee Section 6.7(c) Election Period Section 9.2(b)(i) Eligibility Requirements Section 8.1(b) Embargoed Person Section 12.8(m) ERISA Section 12.8(k) Executive Committee Section 3.1 Executive Officer Section 7.4(a)(iv) Exemption Section 5.7(b) Fiscal Year Section 11.2 Force Majeure Event Section 7.4(a)(ii) Forced Sale Section 9.2(a)(i) Forced Sale Notice Section 9.2(a)(ii) Formation Date Recitals General Partner Introduction GP Appraiser Section 6.3(e)(ii) GP Fees Section 6.4(a) GP Indemnitee Section 6.7(b) Guaranty Section 6.4(d) Guaranty Fee Section 6.4(d) Identification Period Section 4.1(a) IIT Section 6.1 Indebtedness Section 2.2(b) (iv) Indemnitee Section 6.7(c) Independent Appraiser Section 6.3(e)(iii) Independent Appraiser Appointment Period Section 6.3(e)(ii) Initial Budget Approval Section 6.3(b)(i) Initial Capital Contributions Section 4.3(a) Initial Investment Brief Section 4.1(c) Initial Partnership Agreement Recitals Initiator Section 9.2(a)(ii) Interest Section 4.2(b) Investment Section 2.2(b)(v) Investment Advisers Act Section 12.8(g) Investment Company Act Section 12.8(f) Investment Entity Section 2.2(c) Investment Entity LLCA Section 2.2(e) Investment Memorandum Section 4.1(c) Investment Period Section 4.1(a) IPT Introduction IPT Board Section 7.4(a)(vi) IPT Change of Control Section 7.4(a)(vi) IPT HoldCo Introduction IPT Limited Partner Introduction IPT OpCo Introduction IPT Partners Introduction IPT REIT Listing Transaction Section 7.4(a)(vi) IPT Sell-Down Section 8.1(e) IRS Section 6.8(b) Judicial Review Section 6.8(c) Key Persons Section 6.1 Key Person Event Section 6.1 Leverage Notice Section 2.3 Leverage Targets Section 2.3 Limited Partner Introduction Limited Partner Capital Call Section 4.3(d) Limited Partner Funding Request Section 4.3(d) Limited Partners Introduction Losses Section 6.7(b) LP Appraiser Section 6.3(e)(iii) LP Appraiser Appointment Period Section 6.3(e)(ii) LP Appraiser Notice Section 6.3(e)(iii) LP Indemnitee Section 6.7(c) Major Decision Section 6.2 Marketing Period Section 9.2(b)(iii) Material Adverse Effect Section 7.4(a)(i) Non-Transfer Option Section 8.1(d)(ii) OFAC Section 12.8(l) Offer Section 8.1(c)(i) Offer Period Section 8.1(c)(i) Offer Price Section 8.1(c)(i) Offered Price Section 9.1(a)(ii) Offeree Partners Section 8.1(c)(i) Offering Partner Section 8.1(c)(i) Operating Agreement Section 2.2(c) Oversight Party Section 7.4(b) Partner Introduction Partners Introduction Partnership Introduction Partnership Expenses Section 6.4(c) Partnership Leverage Target Section 2.3 PBSA Section 12.11(b)(i) Pension Share Section 2.2(h) Percentage Interests Section 4.2(a) Person Section 12.9 Pipeline Investment Section 6.6(a) Pipeline Screening Notice Section 6.6(a) Portfolio Section 2.2(a)(i) Portfolio Appraisal Section 6.3(e)(ii) Portfolio Value Section 6.3(e)(iv) Post-Stabilization Leverage Target Section 2.3 Pre-Stabilization Leverage Target Section 2.3 Preservation Costs Section 4.3(c)(v) Primary Markets Section 2.2(a)(i) Proposed Investments Section 4.1(b) Proposed Portfolio Price Section 9.2(a)(ii) Proposed Purchase Price Section 9.2(b)(iv)(A) Purchasing Partner Section 9.1(a)(ii) Qualified Appraiser Section 6.3(e)(i) Qualified Institutional Transferee Section 8.1(b)(v) Qualified Investment Partner Section 8.1(e) Recipients Section 9.2(a)(ii) Regulated Company Section 2.2(h) Removal Date Value Section 7.4(c) Representative Section 3.1 Requesting Partner Section 7.4(b) Required Representation Section 8.1(c)(ii)(A) Responding Partner Section 9.1(a)(ii) Response Period Section 9.1(a)(ii) ROFO Acceptance Notice Section 8.1(c)(i) ROFO Closing Period Section 9.2(b)(ii) ROFO Deposit Section 9.2(b)(ii) ROFO Election Section 9.2(b)(ii) ROFO Price Section 9.2(a)(ii) ROFO Sale Section 9.2(b)(i) ROFR Notice Section 9.2(b)(iv)(A) ROFR Closing Period Section 9.2(b)(iv)(B) ROFR Election Section 9.2(b)(iv)(A) ROFR Exercise Period Section 9.2(b)(iv)(A) ROFR Notice Section 9.2(b)(iv)(A) ROFR Price Section 9.2(b)(iv)(A) ROFR Sale Section 9.2(b)(iv)(A) SDT Representative Section 3.3(c) SEC Section 9.1(a)(iii) Securities Act Section 12.8(d) Sell-Down Transferee Section 8.1(e) Selling Partner Section 9.1(a)(ii) Senior Preferred Equity Contributions Section 4.4(b)(ii) Senior Preferred Return Section 4.4(b)(ii) Stabilization Section 2.3 Strategic Land Investment Section 6.2(a) Substitute General Partner List Section 7.4(d) Supporting Materials Section 6.3(b) Tag Along Notice Section 8.1(d)(i) Tag Along Offer Terms Section 8.1(d)(i) Tag Along Option Section 8.1(d)(ii) Tag Along Purchaser Section 8.1(d)(i) Tag Along Transfer Section 8.1(d) Tax Audit Section 6.8(c) Tax Matters Partner Section 6.8(a) Term Section 1.3 Transfer Section 8.1(a) Transferee Section 8.1(a) Trigger Date Section 8.1(b) Triggering Partner Section 9.1(a)(i) Unfunded Amount Section 4.4(a) Unlevered LP Capital Contributions Section 5.1(i) Unlevered LP Distributions Section 5.1(j) Unrelated Third Party Section 12.9 Value-Add Investment Section 2.2(b)(vi) Willful Bad Acts Section 7.4(a)(v) Schedules and Exhibits Schedule 1 Names, Addresses, Percentage Interests of Partners Exhibit A Capital Accounts; Allocation Rules Exhibit B Primary Markets Exhibit C Target Investment Characteristics Exhibit D GP Fees Exhibit E Substitute General Partner List Exhibit F CPR Arbitration Exhibit G Form of Investment Entity Operating Agreement Exhibit H Reporting Requirements Exhibit I Objectives Exhibit J Certain Defined Terms and Distributions Exhibit K Restrictions on Authority Exhibit L Presentation of Investments Exhibit M Cause Exhibit N Qualified Investment Partners AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF Build-To-Core Industrial Partnership I LP THIS AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (this “Agreement”) of Build-To-Core Industrial Partnership I LP, a Delaware limited partnership (the “Partnership”) is made and entered into as of February 12, 2015, by and among: (a) IPT BTC I GP LLC, a Delaware limited liability company, as general partner (the “General Partner”), which is a subsidiary of IPT Real Estate Holdco LLC, a Delaware limited liability company (“IPT HoldCo”), which in turn is a subsidiary of Industrial Property Operating Partnership LP (“IPT OpCo”), which in turn is a subsidiary of Industrial Property Trust Inc. (“IPT”); (b) IPT BTC I LP LLC, a Delaware limited liability company, which is a subsidiary of IPT HoldCo, which in turn is a subsidiary of IPT OpCo, which in turn is a subsidiary of IPT, as a limited partner (the “IPT Limited Partner” and, together with the General Partner, collectively, the “IPT Partners”); (c) bcIMC International Real Estate (2004) Investment Corporation, a Canadian corporation, as a limited partner (the “BCIMC Pension Partner”); and (d) bcIMC (WCBAF) Realpool Global Investment Corporation, a Canadian corporation, as a limited partner (the “BCIMC Accident Fund Partner” and, together with the BCIMC Pension Partner, collectively, the “BCIMC Limited Partner”). The BCIMC Limited Partner and the IPT Limited Partner shall each be referred to herein individually as a “Limited Partner” and collectively as the “Limited Partners” and the Limited Partners and General Partner, each shall be referred to herein individually as a “Partner” and collectively as the “Partners.”
Appears in 1 contract
Samples: Industrial Property Trust Inc.
Agreement Introduction. Allocable Share Section 8.1(c)(i) Applicable Information Section 12.11(b)(iii) Applicable Vehicles Section 6.6(b) Appraisal Date Section 6.3(e)(i) Appraisal Notice Section 6.3(e)(iii) Appraised Value Section 6.3(e)(vi) Appraisers Section 6.3(e)(iv) Approval of the Executive Committee Section 3.2 Approved Section 3.2 Approved Investment Section 4.1(b) Approved Partnership Budget Section 6.2(c) Arbitration Notice Section 9.4 BCIMC Section 12.11(b)(iii) BCIMC Accident Fund Partner Introduction BCIMC Accident Fund Canadian Limited Partner Subscription Agreement Recitals Introduction BCIMC USA Limited Partner Introduction BCIMC Limited Partner Introduction BCIMC Parties Section 12.11(b)(iv) BCIMC Pension Partner Introduction BCIMC Pension Partner Subscription Agreement Recitals BCIMC Representative Section 3.3(c) 3.1 Benefit Plan Investor Section 12.8(k) Business Day Section 3.3(b) Buy-Sell Section 9.1(a)(i) Buy-Sell Closing Period Section 9.1(d)(i) Buy-Sell Deposit Section 9.1(c) Buy-Sell Notice Section 9.1(a)(i) Buy-Sell Price Section 9.1(a)(ii) Calculation Date Section 5.1(a) Capital Account Section 4.5 Capital Call Funding Period Section 4.3(d) Capital Call Notice Section 4.3(d) Capital Commitment Section 4.3(e) Capital Contributions Section 4.3(a) Carried Interest Amount Amounts Section 5.1(b) Carried Interest Deficiency Section 5.3(b) Carried Interest Distributions Section 5.1(c) Cash Available for Distribution Section 5.1(d) Cause Section 7.4(a) Cause Notice Section 7.4(b) CCE Section 2.2(e) Certificate of Limited Partnership Recitals Closing Period Section 8.1(c)(ii)(A) Code Section 2.2(c) Confidential Information Section 12.11(a) Contributing Partner Section 4.4(b) Control Section 12.9 Core Investment Section 2.2(b)(ii) CPR Section 7.4(b) Cumulative 6.5% Internal Rate of Return Amount Section 5.1(e) Cumulative 8.5% Internal Rate of Return Amount Section 5.1(f) Cure Date Section 4.4(c) Dallas Portfolio Section 5.1(g) Dallas Portfolio Cash Available for Distribution Section 5.1(h) Deadlock Event Section 3.2 Default Date Section 4.4(c) Default Period Section 4.4(c) Defaulting Partner Section 4.4(a) Deposit Section 8.1(c)(ii) Development Investment Section 2.2(b)(iii) Disputed Issue Section 7.4(b) Due Care Section 6.3(a) EC Indemnitee Section 6.7(c) Election Period Section 9.2(b)(i) Eligibility Requirements Section 8.1(b) Embargoed Person Section 12.8(m) ERISA Section 12.8(k) Executive Committee Section 3.1 Executive Officer Section 7.4(a)(iv) Exemption Section 5.7(b) Final Adjustment Section 6.8(d)(ii) Fiscal Year Section 11.2 Force Majeure Event Section 7.4(a)(ii) Forced Sale Section 9.2(a)(i) Forced Sale Notice Section 9.2(a)(ii) Formation Date Recitals General Partner Introduction General Partner Carried Interest Amount Section 5.1(i) General Partner Carried Interest Amount Deficiency Section 5.3(a)(ii) GP Appraiser Section 6.3(e)(ii) GP Fees Section 6.4(a) GP Indemnitee Section 6.7(b) Guaranty Section 6.4(d) Guaranty Fee Section 6.4(d) Identification Period Section 4.1(a) IIT Section 6.1 Indebtedness Section 2.2(b) (iv) Indemnitee Section 6.7(c) Independent Appraiser Section 6.3(e)(iii) Independent Appraiser Appointment Period Section 6.3(e)(ii) Initial Budget Approval Section 6.3(b)(i) Initial Capital Contributions Section 4.3(a) Initial Investment Brief Section 4.1(c) Initial Partnership Agreement Recitals Initiator Section 9.2(a)(ii) Interest Section 4.2(b) Investment Section 2.2(b)(v) Investment Advisers Act Section 12.8(g) Investment Company Act Section 12.8(f) Investment Entity Section 2.2(c) Investment Entity LLCA Section 2.2(e) Investment Memorandum Section 4.1(c) Investment Period Section 4.1(a) IPT Introduction IPT Advisors Introduction IPT Advisors Group Introduction IPT Board Section 7.4(a)(vi) IPT Change of Control Section 7.4(a)(vi) IPT HoldCo Introduction IPT Limited Partner Introduction IPT OpCo Introduction IPT Partners Introduction IPT REIT Listing Transaction Section 7.4(a)(vi) IPT Sell-Down Section 8.1(e) IRS Section 6.8(b) Judicial Review Section 6.8(c) Key Persons Section 6.1 Key Person Event Section 6.1 Leverage Notice Section 2.3 Leverage Targets Section 2.3 Limited Partner Introduction Limited Partner Capital Call Section 4.3(d) Limited Partner Funding Request Section 4.3(d) Limited Partners Introduction Losses Section 6.7(b) LP Appraiser Section 6.3(e)(iii) LP Appraiser Appointment Period Section 6.3(e)(ii) LP Appraiser Notice Section 6.3(e)(iii) LP Indemnitee Section 6.7(c) Major Decision Section 6.2 Marketing Period Section 9.2(b)(iii) Material Adverse Effect Section 7.4(a)(i) Non-Transfer Option Section 8.1(d)(ii) OFAC Section 12.8(l) Offer Section 8.1(c)(i) Offer Period Section 8.1(c)(i) Offer Price Section 8.1(c)(i) Offered Price Section 9.1(a)(ii) Offeree Partners Section 8.1(c)(i) Offering Partner Section 8.1(c)(i) Operating Agreement Section 2.2(c) Oversight Party Section 7.4(b) Partner Introduction Partners Introduction Partnership Introduction Partnership Expenses Section 6.4(c) Partnership Leverage Target Section 2.3 PBSA Section 12.11(b)(i) Pension Share Section 2.2(h) Percentage Interests Section 4.2(a) Person Section 12.9 Pipeline Investment Section 6.6(a) Pipeline Screening Notice Section 6.6(a) Portfolio Section 2.2(a)(i) Portfolio Appraisal Section 6.3(e)(ii) Portfolio Value Section 6.3(e)(iv) Post-Stabilization Leverage Target Section 2.3 Pre-Stabilization Leverage Target Section 2.3 Preservation Costs Section 4.3(c)(v) Primary Markets Section 2.2(a)(i) Proposed Investments Section 4.1(b) Proposed Portfolio Price Section 9.2(a)(ii) Proposed Purchase Price Section 9.2(b)(iv)(A) Purchasing Partner Section 9.1(a)(ii) Qualified Appraiser Section 6.3(e)(i) Qualified Institutional Transferee Section 8.1(b)(v) Qualified Investment Partner Section 8.1(e) Recipients Section 9.2(a)(ii) Redemption Section 5.3(b)(i) Redemption Closing Date Section 5.3(b)(iii) Redemption Note Section 5.3(b)(ii) Redemption Price Section 5.3(b)(i) Redemption Price Deficiency Section 5.3(b)(ii) Regulated Company Section 2.2(g) Regulated Share Section 2.2(h) Removal Date Value Section 7.4(c) Representative Section 3.1 Requesting Partner Section 7.4(b) Required Representation Section 8.1(c)(ii)(A) Responding Partner Section 9.1(a)(ii9.1(a)(i) Response Period Section 9.1(a)(ii) ROFO Acceptance Notice Section 8.1(c)(i) ROFO Closing Period Section 9.2(b)(ii) ROFO Deposit Section 9.2(b)(ii) ROFO Election Section 9.2(b)(ii) ROFO Price Section 9.2(a)(ii) ROFO Sale Section 9.2(b)(i) ROFR Notice Section 9.2(b)(iv)(A) ROFR Closing Period Section 9.2(b)(iv)(B) ROFR Election Section 9.2(b)(iv)(A) ROFR Exercise Period Section 9.2(b)(iv)(A) ROFR Notice Section 9.2(b)(iv)(A) ROFR Price Section 9.2(b)(iv)(A) ROFR Sale Section 9.2(b)(iv)(A) SDT Representative Section 3.3(c) SEC Section 9.1(a)(iii) Second A&R Partnership Agreement Recitals Securities Act Section 12.8(d) Sell-Down Transferee Section 8.1(e) Selling Partner Section 9.1(a)(ii) Senior Preferred Equity Contributions Section 4.4(b)(ii) Senior Preferred Return Section 4.4(b)(ii) Special Limited Partner Introduction Special Limited Partner Carried Interest Amount Section 5.1(j) Stabilization Section 2.3 Strategic Land Investment Section 6.2(a) Substitute General Partner List Section 7.4(d) Supporting Materials Section 6.3(b) Tag Along Notice Section 8.1(d)(i) Tag Along Offer Terms Section 8.1(d)(i) Tag Along Option Section 8.1(d)(ii) Tag Along Purchaser Section 8.1(d)(i) Tag Along Transfer Section 8.1(d) Tax Audit Section 6.8(c) Tax Matters Partner Section 6.8(a) Term Section 1.3 Transfer Section 8.1(a) Transferee Section 8.1(a) Treaty Section 5.7(d)(i) Trigger Date Section 8.1(b) Triggering Partner Section 9.1(a)(i) Unfunded Amount Section 4.4(a) Unlevered LP Capital Contributions Section 5.1(i5.1(k) Unlevered LP Distributions Section 5.1(j5.1(l) Unrelated Third Party Section 12.9 Value-Add Investment Section 2.2(b)(vi) Willful Bad Acts Section 7.4(a)(v) Schedules and Exhibits Schedule 1 Names, Addresses, Percentage Interests of Partners Exhibit A Capital Accounts; Allocation Rules Exhibit B Primary Markets Exhibit C Target Investment Characteristics Exhibit D GP Fees Exhibit E Substitute General Partner List Exhibit F CPR Arbitration Exhibit G Form of Investment Entity Operating Agreement Exhibit H Reporting Requirements Exhibit I Objectives Exhibit J Certain Defined Terms and Distributions Exhibit K Restrictions on Authority Exhibit L Presentation of Investments Exhibit M Cause Exhibit N Qualified Investment Partners THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF Build-To-Core Industrial Partnership I LP THIS THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (this “Agreement”) of Build-To-Core Industrial Partnership I LP, a Delaware limited partnership (the “Partnership”) is made and entered into as of February 12September 15, 20152016, by and among: (a) IPT BTC I GP LLC, a Delaware limited liability company, as general partner (the “General Partner”), which is a subsidiary of IPT Real Estate Holdco LLC, a Delaware limited liability company (“IPT HoldCo”), which in turn is a subsidiary of Industrial Property Operating Partnership LP (“IPT OpCo”), which in turn is a subsidiary of Industrial Property Trust Inc. (“IPT”); (b) IPT BTC I LP LLC, a Delaware limited liability company, which is a subsidiary of IPT HoldCo, which in turn is a subsidiary of IPT OpCo, which in turn is a subsidiary of IPT, as a limited partner (the “IPT Limited Partner” and, together with the General Partner, collectively, the “IPT Partners”); (c) Industrial Property Advisors Sub I LLC, a Delaware limited liability company (the “Special Limited Partner”), which is a subsidiary of Industrial Property Advisors LLC (“IPT Advisors”), which in turn is a subsidiary of Industrial Property Advisors Group LLC (“IPT Advisors Group”), as a limited partner; (d) bcIMC International Real Estate (2004) Investment Corporation, a Canadian corporation, as a limited partner (the “BCIMC Pension Partner”); and (de) bcIMC (WCBAF) Realpool Global Investment Corporation, a Canadian corporation, as a limited partner (the “BCIMC Accident Fund Partner” and, together with the BCIMC Pension Partner, collectively, the “BCIMC Canadian Limited Partner”); and (f) bcIMC (USA) Realty Div A2 LLC, a Delaware limited liability company, as a limited partner (the “BCIMC USA Limited Partner” and, together with the BCIMC Pension Partner and the BCIMC Accident Fund Partner, collectively, the “BCIMC Limited Partner”). The BCIMC Pension Partner, the BCIMC Accident Fund Partner, the BCIMC USA Limited Partner and the IPT Limited Partner shall each be referred to herein individually as a “Limited Partner” and collectively as the “Limited Partners” and the Limited Partners Partners, the Special Limited Partner and the General Partner, each shall be referred to herein individually as a “Partner” and collectively as the “Partners.”
Appears in 1 contract
Samples: Industrial Property Trust Inc.
Agreement Introduction. Allocable Share Section 8.1(c)(i) Applicable Information Section 12.11(b)(iii) Applicable Vehicles Section 6.6(b) Appraisal Date Section 6.3(e)(i) Appraisal Notice Section 6.3(e)(iii) Appraised Value Section 6.3(e)(vi) Appraisers Section 6.3(e)(iv) Approval of the Executive Committee Section 3.2 Approved Section 3.2 Approved Investment Section 4.1(b) Approved Partnership Budget Section 6.2(c) Arbitration Notice Section 9.4 BCIMC Section 12.11(b)(iii) BCIMC Accident Fund Partner College Introduction BCIMC Accident Fund Partner Subscription Agreement Hydro Introduction BCIMC International Real Estate Recitals BCIMC Limited Partner Introduction BCIMC Municipal Introduction BCIMC Parties Section 12.11(b)(iv) BCIMC Pension Partner Public Service Introduction BCIMC Pension Partner Subscription Agreement Recitals BCIMC Representative Section 3.3(c) 3.1 BCIMC Teachers Introduction BCIMC USA Recitals BCIMC WCB Introduction BCIMC WCBAF Introduction Benefit Plan Investor Section 12.8(k) BTC Intermediate Portfolio Holdco Section 2.2(c) BTC Portfolio Holdco Section 2.2(c) Business Day Section 3.3(b) Buy-Sell Section 9.1(a)(i) Buy-Sell Closing Period Section 9.1(d)(i) Buy-Sell Deposit Section 9.1(c) Buy-Sell Notice Section 9.1(a)(i) Buy-Sell Price Section 9.1(a)(ii) Calculation Date Section 5.1(a) Capital Account Section 4.5 Capital Call Funding Period Section 4.3(d) Capital Call Notice Section 4.3(d) Capital Commitment Section 4.3(e) Capital Contributions Section 4.3(a) Carried Interest Amount Amounts Section 5.1(b) Carried Interest Deficiency Section 5.3(b) Carried Interest Distributions Section 5.1(c) Cash Available for Distribution Section 5.1(d) Cause Section 7.4(a) Cause Notice Section 7.4(b) CCE Section 2.2(e) Certificate of Limited Partnership Recitals Closing Period Section 8.1(c)(ii)(A) Code Section 2.2(c) Confidential Information Section 12.11(a) Contributing Partner Section 4.4(b) Control Section 12.9 Core Investment Section 2.2(b)(ii) CPR Section 7.4(b) Cumulative 6.5% Internal Rate of Return Amount Section 5.1(e) Cumulative 8.5% Internal Rate of Return Amount Section 5.1(f) Cure Date Section 4.4(c) Dallas Portfolio Section 5.1(g) Dallas Portfolio Cash Available for Distribution Section 5.1(h) Deadlock Event Section 3.2 Default Date Section 4.4(c) Default Period Section 4.4(c) Defaulting Partner Section 4.4(a) Deposit Section 8.1(c)(ii) Development Investment Section 2.2(b)(iii) Disputed Issue Section 7.4(b) Due Care Section 6.3(a) EC Indemnitee Section 6.7(c) Election Period Section 9.2(b)(i) Eligibility Requirements Section 8.1(b) Embargoed Person Section 12.8(m) ERISA Section 12.8(k) Executive Committee Section 3.1 Executive Officer Section 7.4(a)(iv) Exemption Section 5.7(b) Final Adjustment Section 6.8(d)(ii) Fiscal Year Section 11.2 Force Majeure Event Section 7.4(a)(ii) Forced Sale Section 9.2(a)(i) Forced Sale Notice Section 9.2(a)(ii) Formation Date Recitals General Partner Introduction General Partner Carried Interest Amount Section 5.1(i) General Partner Carried Interest Amount Deficiency Section 5.3(a)(ii) GP Appraiser Section 6.3(e)(ii) GP Fees Section 6.4(a) GP Indemnitee Section 6.7(b) Guaranty Section 6.4(d) Guaranty Fee Section 6.4(d) Identification Period Section 4.1(a) IIT Section 6.1 Indebtedness Section 2.2(b) (iv) Indemnitee Section 6.7(c) Independent Appraiser Section 6.3(e)(iii) Independent Appraiser Appointment Period Section 6.3(e)(ii) Initial Budget Approval Section 6.3(b)(i) Initial Capital Contributions Section 4.3(a) Initial Investment Brief Section 4.1(c) Initial Partnership Agreement Recitals Initiator Section 9.2(a)(ii) Interest Section 4.2(b) Investment Section 2.2(b)(v) Investment Advisers Act Section 12.8(g) Investment Company Act Section 12.8(f) Investment Entity Section 2.2(c) Investment Entity LLCA Section 2.2(e) Investment Memorandum Section 4.1(c) Investment Period Section 4.1(a) IPT Introduction IPT Advisors Introduction IPT Advisors Group Introduction IPT Board Section 7.4(a)(vi) IPT Change of Control Section 7.4(a)(vi) IPT HoldCo Introduction IPT Limited Partner Introduction IPT OpCo Introduction IPT Partners Introduction IPT REIT Listing Transaction Section 7.4(a)(vi) IPT Sell-Down Section 8.1(e) IRS Section 6.8(b) Judicial Review Section 6.8(c) Key Persons Section 6.1 Key Person Event Section 6.1 Leverage Notice Section 2.3 Leverage Targets Section 2.3 Limited Partner Introduction Limited Partner Capital Call Section 4.3(d) Limited Partner Funding Request Section 4.3(d) Limited Partners Introduction Losses Section 6.7(b) LP Appraiser Section 6.3(e)(iii) LP Appraiser Appointment Period Section 6.3(e)(ii) LP Appraiser Notice Section 6.3(e)(iii) LP Indemnitee Section 6.7(c) Major Decision Section 6.2 Marketing Period Section 9.2(b)(iii) Material Adverse Effect Section 7.4(a)(i) Non-Transfer Option Section 8.1(d)(ii) OFAC Section 12.8(l) Offer Section 8.1(c)(i) Offer Period Section 8.1(c)(i) Offer Price Section 8.1(c)(i) Offered Price Section 9.1(a)(ii) Offeree Partners Section 8.1(c)(i) Offering Partner Section 8.1(c)(i) Operating Agreement Section 2.2(c) Oversight Party Section 7.4(b) Partner Introduction Partners Introduction Partnership Introduction Partnership Expenses Section 6.4(c) Partnership Leverage Target Section 2.3 Partnership Tax Audit Rules Section 5.7(a) PBSA Section 12.11(b)(i) Pension Share Section 2.2(h) Percentage Interests Section 4.2(a) Person Section 12.9 Pipeline Investment Section 6.6(a) Pipeline Screening Notice Section 6.6(a) Portfolio Section 2.2(a)(i) Portfolio Appraisal Section 6.3(e)(ii) Portfolio Value Section 6.3(e)(iv) Post-Stabilization Leverage Target Section 2.3 Pre-Stabilization Leverage Target Section 2.3 Preservation Costs Section 4.3(c)(v) Primary Markets Section 2.2(a)(i) Proposed Investments Section 4.1(b) Proposed Portfolio Price Section 9.2(a)(ii) Proposed Purchase Price Section 9.2(b)(iv)(A) Purchasing Partner Section 9.1(a)(ii) QFPF Certification Section 5.7(d)(i) Qualified Appraiser Section 6.3(e)(i) Qualified Institutional Transferee Section 8.1(b)(v) Qualified Investment Partner Section 8.1(e) Recipients Section 9.2(a)(ii) Redemption Section 5.3(b)(i) Redemption Closing Date Section 5.3(b)(iii) Redemption Note Section 5.3(b)(ii) Redemption Price Section 5.3(b)(i) Redemption Price Deficiency Section 5.3(b)(ii) Regulated Company Section 2.2(h) Regulated Share Section 2.2(h) Removal Date Value Section 7.4(c) Representative Section 3.1 Requesting Partner Section 7.4(b) Required Representation Section 8.1(c)(ii)(A) Responding Partner Section 9.1(a)(ii9.1(a)(i) Response Period Section 9.1(a)(ii) ROFO Acceptance Notice Section 8.1(c)(i) ROFO Closing Period Section 9.2(b)(ii) ROFO Deposit Section 9.2(b)(ii) ROFO Election Section 9.2(b)(ii) ROFO Price Section 9.2(a)(ii) ROFO Sale Section 9.2(b)(i) ROFR Notice Section 9.2(b)(iv)(A) ROFR Closing Period Section 9.2(b)(iv)(B) ROFR Election Section 9.2(b)(iv)(A) ROFR Exercise Period Section 9.2(b)(iv)(A) ROFR Notice Section 9.2(b)(iv)(A) ROFR Price Section 9.2(b)(iv)(A) ROFR Sale Section 9.2(b)(iv)(A) SDT Representative Section 3.3(c) SEC Section 9.1(a)(iii) Second A&R Partnership Agreement Recitals Securities Act Section 12.8(d) Sell-Down Transferee Section 8.1(e) Selling Partner Section 9.1(a)(ii) Senior Preferred Equity Contributions Section 4.4(b)(ii) Senior Preferred Return Section 4.4(b)(ii) Special Limited Partner Introduction Special Limited Partner Carried Interest Amount Section 5.1(j) Stabilization Section 2.3 Strategic Land Investment Section 6.2(a) Substitute General Partner List Section 7.4(d) Supporting Materials Section 6.3(b) Tag Along Notice Section 8.1(d)(i) Tag Along Offer Terms Section 8.1(d)(i) Tag Along Option Section 8.1(d)(ii) Tag Along Purchaser Section 8.1(d)(i) Tag Along Transfer Section 8.1(d) Tax Audit Section 6.8(c) Tax Matters Partner Section 6.8(a) Term Section 1.3 Third A&R Partnership Agreement Recitals Transfer Section 8.1(a) Transferee Section 8.1(a) Treaty Section 5.7(d)(i) Trigger Date Section 8.1(b) Triggering Partner Section 9.1(a)(i) Unfunded Amount Section 4.4(a) Unlevered LP Capital Contributions Section 5.1(i5.1(k) Unlevered LP Distributions Section 5.1(j5.1(l) Unrelated Third Party Section 12.9 Value-Add Investment Section 2.2(b)(vi) Willful Bad Acts Section 7.4(a)(v) Schedules and Exhibits Schedule 1 Names1Names, Addresses, Percentage Interests of Partners Exhibit A Capital ACapital Accounts; Allocation Rules Exhibit B Primary BPrimary Markets Exhibit C Target CTarget Investment Characteristics Exhibit D GP DGP Fees Exhibit E Substitute ESubstitute General Partner List Exhibit F CPR FCPR Arbitration Exhibit G Form GForm of Investment Entity Operating Agreement Exhibit H Reporting HReporting Requirements Exhibit I Objectives IObjectives Exhibit J Certain JCertain Defined Terms and Distributions Exhibit K Restrictions KRestrictions on Authority Exhibit L Presentation LPresentation of Investments Exhibit M Cause MCause Exhibit N Qualified Investment Partners NForm of QFPF Certification FOURTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF Build-To-Core Industrial Partnership I LP THIS FOURTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (this “Agreement”) of Build-To-Core Industrial Partnership I LP, a Delaware limited partnership (the “Partnership”) is made and entered into as of February 12December 30, 20152016, by and among: (a) IPT BTC I GP LLC, a Delaware limited liability company, as general partner (the “General Partner”), which is a subsidiary of IPT Real Estate Holdco LLC, a Delaware limited liability company (“IPT HoldCo”), which in turn is a subsidiary of Industrial Property Operating Partnership LP (“IPT OpCo”), which in turn is a subsidiary of Industrial Property Trust Inc. (“IPT”); (b) IPT BTC I LP LLC, a Delaware limited liability company, which is a subsidiary of IPT HoldCo, which in turn is a subsidiary of IPT OpCo, which in turn is a subsidiary of IPT, as a limited partner (the “IPT Limited Partner” and, together with the General Partner, collectively, the “IPT Partners”); (c) bcIMC International Real Estate (2004) Investment CorporationIndustrial Property Advisors Sub I LLC, a Canadian corporationDelaware limited liability company (the “Special Limited Partner”), which is a subsidiary of Industrial Property Advisors LLC (“IPT Advisors”), which in turn is a subsidiary of Industrial Property Advisors Group LLC (“IPT Advisors Group”), as a limited partner (the “BCIMC Pension Partner”)partner; and (d) bcIMC (WCBAF) Realpool Global Investment Corporation, a Canadian corporation, as a limited partner (the “BCIMC Accident Fund PartnerWCBAF”); (e) bcIMC (College) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC College”); (f) bcIMC (Municipal) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC Municipal”); (g) bcIMC (Public Service) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC Public Service”); (h) bcIMC (Teachers) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC Teachers”); (i) bcIMC (WCB) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC WCB”); and (j) bcIMC (Hydro) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC Hydro” and, together with the BCIMC Pension PartnerWCBAF, BCIMC College, BCIMC Municipal, BCIMC Public Service, BCIMC Teachers and BCIMC WCB, collectively, the “BCIMC Limited Partner”). The BCIMC Limited Partner WCBAF, BCIMC College, BCIMC Municipal, BCIMC Public Service, BCIMC Teachers, BCIMC WCB, BCIMC Hydro and the IPT Limited Partner shall each be referred to herein individually as a “Limited Partner” and collectively as the “Limited Partners” and the Limited Partners Partners, the Special Limited Partner and the General Partner, each shall be referred to herein individually as a “Partner” and collectively as the “Partners.””
Appears in 1 contract
Samples: BLACK CREEK INDUSTRIAL REIT IV Inc.
Agreement Introduction. Allocable Share Section 8.1(c)(i) Applicable Information Section 12.11(b)(iii) Applicable Vehicles Section 6.6(b) Appraisal Date Section 6.3(e)(i) Appraisal Notice Section 6.3(e)(iii) Appraised Value Section 6.3(e)(vi) Appraisers Section 6.3(e)(iv) Approval of the Executive Committee Section 3.2 Approved Section 3.2 Approved Investment Section 4.1(b) Approved Partnership Budget Section 6.2(c) Arbitration Notice Section 9.4 BCIMC Section 12.11(b)(iii) BCIMC Accident Fund Partner College Introduction BCIMC Accident Fund Partner Subscription Agreement Hydro Introduction BCIMC International Real Estate Recitals BCIMC Limited Partner Introduction BCIMC Municipal Introduction BCIMC Parties Section 12.11(b)(iv) BCIMC Pension Partner Public Service Introduction BCIMC Pension Partner Subscription Agreement Recitals BCIMC Representative Section 3.3(c) 3.1 BCIMC Teachers Introduction BCIMC USA Recitals BCIMC WCB Introduction BCIMC WCBAF Introduction Benefit Plan Investor Section 12.8(k) BTC Intermediate Portfolio Holdco Section 2.2(c) BTC Portfolio Holdco Section 2.2(c) Business Day Section 3.3(b) Buy-Sell Section 9.1(a)(i) Buy-Sell Closing Period Section 9.1(d)(i) Buy-Sell Deposit Section 9.1(c) Buy-Sell Notice Section 9.1(a)(i) Buy-Sell Price Section 9.1(a)(ii) Calculation Date Section 5.1(a) Capital Account Section 4.5 Capital Call Funding Period Section 4.3(d) Capital Call Notice Section 4.3(d) Capital Commitment Section 4.3(e) Capital Contributions Section 4.3(a) Carried Interest Amount Amounts Section 5.1(b) Carried Interest Deficiency Section 5.3(b) Carried Interest Distributions Section 5.1(c) Cash Available for Distribution Section 5.1(d) Cause Section 7.4(a) Cause Notice Section 7.4(b) CCE Section 2.2(e) Certificate of Limited Partnership Recitals Closing Period Section 8.1(c)(ii)(A) Code Section 2.2(c) Confidential Information Section 12.11(a) Contributing Partner Section 4.4(b) Control Section 12.9 Core Investment Section 2.2(b)(ii) CPR Section 7.4(b) Cumulative 6.5% Internal Rate of Return Amount Section 5.1(e) Cumulative 8.5% Internal Rate of Return Amount Section 5.1(f) Cure Date Section 4.4(c) Dallas Portfolio Section 5.1(g) Dallas Portfolio Cash Available for Distribution Section 5.1(h) Deadlock Event Section 3.2 Default Date Section 4.4(c) Default Period Section 4.4(c) Defaulting Partner Section 4.4(a) Deposit Section 8.1(c)(ii) Development Investment Section 2.2(b)(iii) Disputed Issue Section 7.4(b) Due Care Section 6.3(a) EC Indemnitee Section 6.7(c) Election Period Section 9.2(b)(i) Eligibility Requirements Section 8.1(b) Embargoed Person Section 12.8(m) ERISA Section 12.8(k) Executive Committee Section 3.1 Executive Officer Section 7.4(a)(iv) Exemption Section 5.7(b) Final Adjustment Section 6.8(d)(ii) Fiscal Year Section 11.2 Force Majeure Event Section 7.4(a)(ii) Forced Sale Section 9.2(a)(i) Forced Sale Notice Section 9.2(a)(ii) Formation Date Recitals General Partner Introduction General Partner Carried Interest Amount Section 5.1(i) General Partner Carried Interest Amount Deficiency Section 5.3(a)(ii) GP Appraiser Section 6.3(e)(ii) GP Fees Section 6.4(a) GP Indemnitee Section 6.7(b) Guaranty Section 6.4(d) Guaranty Fee Section 6.4(d) Identification Period Section 4.1(a) IIT Section 6.1 Indebtedness Section 2.2(b) (iv) Indemnitee Section 6.7(c) Independent Appraiser Section 6.3(e)(iii) Independent Appraiser Appointment Period Section 6.3(e)(ii) Initial Budget Approval Section 6.3(b)(i) Initial Capital Contributions Section 4.3(a) Initial Investment Brief Section 4.1(c) Initial Partnership Agreement Recitals Initiator Section 9.2(a)(ii) Interest Section 4.2(b) Investment Section 2.2(b)(v) Investment Advisers Act Section 12.8(g) Investment Company Act Section 12.8(f) Investment Entity Section 2.2(c) Investment Entity LLCA Section 2.2(e) Investment Memorandum Section 4.1(c) Investment Period Section 4.1(a) IPT Introduction IPT Advisors Introduction IPT Advisors Group Introduction IPT Board Section 7.4(a)(vi) IPT Change of Control Section 7.4(a)(vi) IPT HoldCo Introduction IPT Limited Partner Introduction IPT OpCo Introduction IPT Partners Introduction IPT REIT Listing Transaction Section 7.4(a)(vi) IPT Sell-Down Section 8.1(e) IRS Section 6.8(b) Judicial Review Section 6.8(c) Key Persons Section 6.1 Key Person Event Section 6.1 Leverage Notice Section 2.3 Leverage Targets Section 2.3 Limited Partner Introduction Limited Partner Capital Call Section 4.3(d) Limited Partner Funding Request Section 4.3(d) Limited Partners Introduction Losses Section 6.7(b) LP Appraiser Section 6.3(e)(iii) LP Appraiser Appointment Period Section 6.3(e)(ii) LP Appraiser Notice Section 6.3(e)(iii) LP Indemnitee Section 6.7(c) Major Decision Section 6.2 Marketing Period Section 9.2(b)(iii) Material Adverse Effect Section 7.4(a)(i) Non-Transfer Option Section 8.1(d)(ii) OFAC Section 12.8(l) Offer Section 8.1(c)(i) Offer Period Section 8.1(c)(i) Offer Price Section 8.1(c)(i) Offered Price Section 9.1(a)(ii) Offeree Partners Section 8.1(c)(i) Offering Partner Section 8.1(c)(i) Operating Agreement Section 2.2(c) Oversight Party Section 7.4(b) Partner Introduction Partners Introduction Partnership Introduction Partnership Expenses Section 6.4(c) Partnership Leverage Target Section 2.3 Partnership Tax Audit Rules Section 5.7(a) PBSA Section 12.11(b)(i) Pension Share Section 2.2(h) Percentage Interests Section 4.2(a) Person Section 12.9 Pipeline Investment Section 6.6(a) Pipeline Screening Notice Section 6.6(a) Portfolio Section 2.2(a)(i) Portfolio Appraisal Section 6.3(e)(ii) Portfolio Value Section 6.3(e)(iv) Post-Stabilization Leverage Target Section 2.3 Pre-Stabilization Leverage Target Section 2.3 Preservation Costs Section 4.3(c)(v) Primary Markets Section 2.2(a)(i) Proposed Investments Section 4.1(b) Proposed Portfolio Price Section 9.2(a)(ii) Proposed Purchase Price Section 9.2(b)(iv)(A) Purchasing Partner Section 9.1(a)(ii) QFPF Certification Section 5.7(d)(i) Qualified Appraiser Section 6.3(e)(i) Qualified Institutional Transferee Section 8.1(b)(v) Qualified Investment Partner Section 8.1(e) Recipients Section 9.2(a)(ii) Redemption Section 5.3(b)(i) Redemption Closing Date Section 5.3(b)(iii) Redemption Note Section 5.3(b)(ii) Redemption Price Section 5.3(b)(i) Redemption Price Deficiency Section 5.3(b)(ii) Regulated Company Section 2.2(h) Regulated Share Section 2.2(h) Removal Date Value Section 7.4(c) Representative Section 3.1 Requesting Partner Section 7.4(b) Required Representation Section 8.1(c)(ii)(A) Responding Partner Section 9.1(a)(ii9.1(a)(i) Response Period Section 9.1(a)(ii) ROFO Acceptance Notice Section 8.1(c)(i) ROFO Closing Period Section 9.2(b)(ii) ROFO Deposit Section 9.2(b)(ii) ROFO Election Section 9.2(b)(ii) ROFO Price Section 9.2(a)(ii) ROFO Sale Section 9.2(b)(i) ROFR Notice Section 9.2(b)(iv)(A) ROFR Closing Period Section 9.2(b)(iv)(B) ROFR Election Section 9.2(b)(iv)(A) ROFR Exercise Period Section 9.2(b)(iv)(A) ROFR Notice Section 9.2(b)(iv)(A) ROFR Price Section 9.2(b)(iv)(A) ROFR Sale Section 9.2(b)(iv)(A) SDT Representative Section 3.3(c) SEC Section 9.1(a)(iii) Second A&R Partnership Agreement Recitals Securities Act Section 12.8(d) Sell-Down Transferee Section 8.1(e) Selling Partner Section 9.1(a)(ii) Senior Preferred Equity Contributions Section 4.4(b)(ii) Senior Preferred Return Section 4.4(b)(ii) Special Limited Partner Introduction Special Limited Partner Carried Interest Amount Section 5.1(j) Stabilization Section 2.3 Strategic Land Investment Section 6.2(a) Substitute General Partner List Section 7.4(d) Supporting Materials Section 6.3(b) Tag Along Notice Section 8.1(d)(i) Tag Along Offer Terms Section 8.1(d)(i) Tag Along Option Section 8.1(d)(ii) Tag Along Purchaser Section 8.1(d)(i) Tag Along Transfer Section 8.1(d) Tax Audit Section 6.8(c) Tax Matters Partner Section 6.8(a) Term Section 1.3 Third A&R Partnership Agreement Recitals Transfer Section 8.1(a) Transferee Section 8.1(a) Treaty Section 5.7(d)(i) Trigger Date Section 8.1(b) Triggering Partner Section 9.1(a)(i) Unfunded Amount Section 4.4(a) Unlevered LP Capital Contributions Section 5.1(i5.1(k) Unlevered LP Distributions Section 5.1(j5.1(l) Unrelated Third Party Section 12.9 Value-Add Investment Section 2.2(b)(vi) Willful Bad Acts Section 7.4(a)(v) Schedules and Exhibits Schedule 1 Names, Addresses, Percentage Interests of Partners Exhibit A Capital Accounts; Allocation Rules Exhibit B Primary Markets Exhibit C Target Investment Characteristics Exhibit D GP Fees Exhibit E Substitute General Partner List Exhibit F CPR Arbitration Exhibit G Form of Investment Entity Operating Agreement Exhibit H Reporting Requirements Exhibit I Objectives Exhibit J Certain Defined Terms and Distributions Exhibit K Restrictions on Authority Exhibit L Presentation of Investments Exhibit M Cause Exhibit N Qualified Investment Partners Form of QFPF Certification FOURTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF Build-To-Core Industrial Partnership I LP THIS FOURTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (this “Agreement”) of Build-To-Core Industrial Partnership I LP, a Delaware limited partnership (the “Partnership”) is made and entered into as of February 12December 31, 20152016, by and among: (a) IPT BTC I GP LLC, a Delaware limited liability company, as general partner (the “General Partner”), which is a subsidiary of IPT Real Estate Holdco LLC, a Delaware limited liability company (“IPT HoldCo”), which in turn is a subsidiary of Industrial Property Operating Partnership LP (“IPT OpCo”), which in turn is a subsidiary of Industrial Property Trust Inc. (“IPT”); (b) IPT BTC I LP LLC, a Delaware limited liability company, which is a subsidiary of IPT HoldCo, which in turn is a subsidiary of IPT OpCo, which in turn is a subsidiary of IPT, as a limited partner (the “IPT Limited Partner” and, together with the General Partner, collectively, the “IPT Partners”); (c) bcIMC International Real Estate (2004) Investment CorporationIndustrial Property Advisors Sub I LLC, a Canadian corporationDelaware limited liability company (the “Special Limited Partner”), which is a subsidiary of Industrial Property Advisors LLC (“IPT Advisors”), which in turn is a subsidiary of Industrial Property Advisors Group LLC (“IPT Advisors Group”), as a limited partner (the “BCIMC Pension Partner”)partner; and (d) bcIMC (WCBAF) Realpool Global Investment Corporation, a Canadian corporation, as a limited partner (the “BCIMC Accident Fund PartnerWCBAF”); (e) bcIMC (College) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC College”); (f) bcIMC (Municipal) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC Municipal”); (g) bcIMC (Public Service) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC Public Service”); (h) bcIMC (Teachers) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC Teachers”); (i) bcIMC (WCB) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC WCB”); and (j) bcIMC (Hydro) US Realty Inc., a Canadian corporation, as a limited partner (“BCIMC Hydro” and, together with the BCIMC Pension PartnerWCBAF, BCIMC College, BCIMC Municipal, BCIMC Public Service, BCIMC Teachers and BCIMC WCB, collectively, the “BCIMC Limited Partner”). The BCIMC Limited Partner WCBAF, BCIMC College, BCIMC Municipal, BCIMC Public Service, BCIMC Teachers, BCIMC WCB, BCIMC Hydro and the IPT Limited Partner shall each be referred to herein individually as a “Limited Partner” and collectively as the “Limited Partners” and the Limited Partners Partners, the Special Limited Partner and the General Partner, each shall be referred to herein individually as a “Partner” and collectively as the “Partners.”
Appears in 1 contract
Samples: Industrial Property Trust Inc.
Agreement Introduction. Allocable Share Section 8.1(c)(i) Applicable Information Section 12.11(b)(iii) Applicable Vehicles Section 6.6(b) Appraisal Date Section 6.3(e)(i) Appraisal Notice Section 6.3(e)(iii) Appraised Value Section 6.3(e)(vi) Appraisers Section 6.3(e)(iv) Approval of the Executive Committee Section 3.2 Approved Section 3.2 Approved Investment Section 4.1(b) Approved Partnership Budget Section 6.2(c) Arbitration Notice Section 9.4 BCIMC Section 12.11(b)(iii) BCIMC Accident Fund Partner Introduction BCIMC Accident Fund Canadian Limited Partner Subscription Agreement Recitals Introduction BCIMC USA Limited Partner Introduction BCIMC Limited Partner Introduction BCIMC Parties Section 12.11(b)(iv) BCIMC Pension Partner Introduction BCIMC Pension Partner Subscription Agreement Recitals BCIMC Representative Section 3.3(c) Benefit Plan Investor Section 12.8(k) Business Day Section 3.3(b) Buy-Sell Section 9.1(a)(i) Buy-Sell Closing Period Section 9.1(d)(i) Buy-Sell Deposit Section 9.1(c) Buy-Sell Notice Section 9.1(a)(i) Buy-Sell Price Section 9.1(a)(ii) Calculation Date Section 5.1(a) Capital Account Section 4.5 Capital Call Funding Period Section 4.3(d) Capital Call Notice Section 4.3(d) Capital Commitment Section 4.3(e) Capital Contributions Section 4.3(a) Carried Interest Amount Section 5.1(b) Carried Interest Deficiency Section 5.3(b) Carried Interest Distributions Section 5.1(c) Cash Available for Distribution Section 5.1(d) Cause Section 7.4(a) Cause Notice Section 7.4(b) CCE Section 2.2(e) Certificate of Limited Partnership Recitals Closing Period Section 8.1(c)(ii)(A) Code Section 2.2(c) Confidential Information Section 12.11(a) Contributing Partner Section 4.4(b) Control Section 12.9 Core Investment Section 2.2(b)(ii) CPR Section 7.4(b) Cumulative 6.5% Internal Rate of Return Amount Section 5.1(e) Cumulative 8.5% Internal Rate of Return Amount Section 5.1(f) Cure Date Section 4.4(c) Dallas Portfolio Section 5.1(g) Dallas Portfolio Cash Available for Distribution Section 5.1(h) Deadlock Event Section 3.2 Default Date Section 4.4(c) Default Period Section 4.4(c) Defaulting Partner Section 4.4(a) Deposit Section 8.1(c)(ii) Development Investment Section 2.2(b)(iii) Disputed Issue Section 7.4(b) Due Care Section 6.3(a) EC Indemnitee Section 6.7(c) Election Period Section 9.2(b)(i) Eligibility Requirements Section 8.1(b) Embargoed Person Section 12.8(m) ERISA Section 12.8(k) Executive Committee Section 3.1 Executive Officer Section 7.4(a)(iv) Exemption Section 5.7(b) Fiscal Year Section 11.2 Force Majeure Event Section 7.4(a)(ii) Forced Sale Section 9.2(a)(i) Forced Sale Notice Section 9.2(a)(ii) Formation Date Recitals General Partner Introduction GP Appraiser Section 6.3(e)(ii) GP Fees Section 6.4(a) GP Indemnitee Section 6.7(b) Guaranty Section 6.4(d) Guaranty Fee Section 6.4(d) Identification Period Section 4.1(a) IIT Section 6.1 Indebtedness Section 2.2(b) (iv) Indemnitee Section 6.7(c) Independent Appraiser Section 6.3(e)(iii) Independent Appraiser Appointment Period Section 6.3(e)(ii) Initial Budget Approval Section 6.3(b)(i) Initial Capital Contributions Section 4.3(a) Initial Investment Brief Section 4.1(c) Initial Partnership Agreement Recitals Initiator Section 9.2(a)(ii) Interest Section 4.2(b) Investment Section 2.2(b)(v) Investment Advisers Act Section 12.8(g) Investment Company Act Section 12.8(f) Investment Entity Section 2.2(c) Investment Entity LLCA Section 2.2(e) Investment Memorandum Section 4.1(c) Investment Period Section 4.1(a) IPT Introduction IPT Board Section 7.4(a)(vi) IPT Change of Control Section 7.4(a)(vi) IPT HoldCo Introduction IPT Limited Partner Introduction IPT OpCo Introduction IPT Partners Introduction IPT REIT Listing Transaction Section 7.4(a)(vi) IPT Sell-Down Section 8.1(e) IRS Section 6.8(b) Judicial Review Section 6.8(c) Key Persons Section 6.1 Key Person Event Section 6.1 Leverage Notice Section 2.3 Leverage Targets Section 2.3 Limited Partner Introduction Limited Partner Capital Call Section 4.3(d) Limited Partner Funding Request Section 4.3(d) Limited Partners Introduction Losses Section 6.7(b) LP Appraiser Section 6.3(e)(iii) LP Appraiser Appointment Period Section 6.3(e)(ii) LP Appraiser Notice Section 6.3(e)(iii) LP Indemnitee Section 6.7(c) Major Decision Section 6.2 Marketing Period Section 9.2(b)(iii) Material Adverse Effect Section 7.4(a)(i) Non-Transfer Option Section 8.1(d)(ii) OFAC Section 12.8(l) Offer Section 8.1(c)(i) Offer Period Section 8.1(c)(i) Offer Price Section 8.1(c)(i) Offered Price Section 9.1(a)(ii) Offeree Partners Section 8.1(c)(i) Offering Partner Section 8.1(c)(i) Operating Agreement Section 2.2(c) Oversight Party Section 7.4(b) Partner Introduction Partners Introduction Partnership Introduction Partnership Expenses Section 6.4(c) Partnership Leverage Target Section 2.3 PBSA Section 12.11(b)(i) Pension Share Section 2.2(h) Percentage Interests Section 4.2(a) Person Section 12.9 Pipeline Investment Section 6.6(a) Pipeline Screening Notice Section 6.6(a) Portfolio Section 2.2(a)(i) Portfolio Appraisal Section 6.3(e)(ii) Portfolio Value Section 6.3(e)(iv) Post-Stabilization Leverage Target Section 2.3 Pre-Stabilization Leverage Target Section 2.3 Preservation Costs Section 4.3(c)(v) Primary Markets Section 2.2(a)(i) Proposed Investments Section 4.1(b) Proposed Portfolio Price Section 9.2(a)(ii) Proposed Purchase Price Section 9.2(b)(iv)(A) Purchase Agreement Recitals Purchasing Partner Section 9.1(a)(ii) Qualified Appraiser Section 6.3(e)(i) Qualified Institutional Transferee Section 8.1(b)(v) Qualified Investment Partner Section 8.1(e) Recipients Section 9.2(a)(ii) Regulated Company Section 2.2(g) Regulated Share Section 2.2(h) Removal Date Value Section 7.4(c) Representative Section 3.1 Requesting Partner Section 7.4(b) Required Representation Section 8.1(c)(ii)(A) Responding Partner Section 9.1(a)(ii) Response Period Section 9.1(a)(ii) ROFO Acceptance Notice Section 8.1(c)(i) ROFO Closing Period Section 9.2(b)(ii) ROFO Deposit Section 9.2(b)(ii) ROFO Election Section 9.2(b)(ii) ROFO Price Section 9.2(a)(ii) ROFO Sale Section 9.2(b)(i) ROFR Notice Section 9.2(b)(iv)(A) ROFR Closing Period Section 9.2(b)(iv)(B) ROFR Election Section 9.2(b)(iv)(A) ROFR Exercise Period Section 9.2(b)(iv)(A) ROFR Notice Section 9.2(b)(iv)(A) ROFR Price Section 9.2(b)(iv)(A) ROFR Sale Section 9.2(b)(iv)(A) SDT Representative Section 3.3(c) SEC Section 9.1(a)(iii) Securities Act Section 12.8(d) Sell-Down Transferee Section 8.1(e) Selling Partner Section 9.1(a)(ii) Senior Preferred Equity Contributions Section 4.4(b)(ii) Senior Preferred Return Section 4.4(b)(ii) Stabilization Section 2.3 Strategic Land Investment Section 6.2(a) Substitute General Partner List Section 7.4(d) Supporting Materials Section 6.3(b) Tag Along Notice Section 8.1(d)(i) Tag Along Offer Terms Section 8.1(d)(i) Tag Along Option Section 8.1(d)(ii) Tag Along Purchaser Section 8.1(d)(i) Tag Along Transfer Section 8.1(d) Tax Audit Section 6.8(c) Tax Matters Partner Section 6.8(a) Term Section 1.3 Transfer Section 8.1(a) Transferee Section 8.1(a) Treaty Section 5.7(d)(i) Trigger Date Section 8.1(b) Triggering Partner Section 9.1(a)(i) Unfunded Amount Section 4.4(a) Unlevered LP Capital Contributions Section 5.1(i) Unlevered LP Distributions Section 5.1(j) Unrelated Third Party Section 12.9 Value-Add Investment Section 2.2(b)(vi) Willful Bad Acts Section 7.4(a)(v) Schedules and Exhibits Schedule 1 Names, Addresses, Percentage Interests of Partners Exhibit A Capital Accounts; Allocation Rules Exhibit B Primary Markets Exhibit C Target Investment Characteristics Exhibit D GP Fees Exhibit E Substitute General Partner List Exhibit F CPR Arbitration Exhibit G Form of Investment Entity Operating Agreement Exhibit H Reporting Requirements Exhibit I Objectives Exhibit J Certain Defined Terms and Distributions Exhibit K Restrictions on Authority Exhibit L Presentation of Investments Exhibit M Cause Exhibit N Qualified Investment Partners SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF Build-To-Core Industrial Partnership I LP THIS SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (this “Agreement”) of Build-To-Core Industrial Partnership I LP, a Delaware limited partnership (the “Partnership”) is made and entered into as of February 12January 28, 20152016, by and among: (a) IPT BTC I GP LLC, a Delaware limited liability company, as general partner (the “General Partner”), which is a subsidiary of IPT Real Estate Holdco LLC, a Delaware limited liability company (“IPT HoldCo”), which in turn is a subsidiary of Industrial Property Operating Partnership LP (“IPT OpCo”), which in turn is a subsidiary of Industrial Property Trust Inc. (“IPT”); (b) IPT BTC I LP LLC, a Delaware limited liability company, which is a subsidiary of IPT HoldCo, which in turn is a subsidiary of IPT OpCo, which in turn is a subsidiary of IPT, as a limited partner (the “IPT Limited Partner” and, together with the General Partner, collectively, the “IPT Partners”); (c) bcIMC International Real Estate (2004) Investment Corporation, a Canadian corporation, as a limited partner (the “BCIMC Pension Partner”); and (d) bcIMC (WCBAF) Realpool Global Investment Corporation, a Canadian corporation, as a limited partner (the “BCIMC Accident Fund Partner” and, together with the BCIMC Pension Partner, collectively, the “BCIMC Canadian Limited Partner”); and (e) bcIMC (USA) Realty Div A2 LLC, a Delaware limited liability company, as a limited partner (the “BCIMC USA Limited Partner” and, together with the BCIMC Pension Partner and the BCIMC Accident Fund Partner, collectively, the “BCIMC Limited Partner”). The BCIMC Pension Partner, the BCIMC Accident Fund Partner, the BCIMC USA Limited Partner and the IPT Limited Partner shall each be referred to herein individually as a “Limited Partner” and collectively as the “Limited Partners” and the Limited Partners and General Partner, each shall be referred to herein individually as a “Partner” and collectively as the “Partners.”
Appears in 1 contract
Samples: Limited Liability Company Agreement (Industrial Property Trust Inc.)
Agreement Introduction. Allocable Share Section 8.1(c)(i) Allocation Policy Section 6.6(b) Applicable Information Section 12.11(b)(iii) Applicable Vehicles Section 6.6(b) Appraisal Date Section 6.3(e)(i) Appraisal Notice Section 6.3(e)(iii) Appraised Value Section 6.3(e)(vi) Appraisers Section 6.3(e)(iv6.3(e)(iii) Approval of the Executive Committee Section 3.2 Approved Section 3.2 Approved Investment Section 4.1(b) Approved Partnership Budget Section 6.2(c) Arbitration Notice Section 9.4 BCIMC Section 12.11(b)(iii) BCIMC Accident Fund Partner Introduction BCIMC Accident Fund Partner Subscription Agreement Recitals BCIMC Limited Partner Introduction BCIMC Parties Section 12.11(b)(iv) BCIMC Pension Partner Introduction BCIMC Pension Partner Subscription Agreement Recitals BCIMC Representative Section 3.3(c) Benefit Plan Investor Section 12.8(k) BCG Recitals BCIG Limited Partner Recitals BCIG Partners Section 4.3(g) BTC Intermediate Portfolio Holdco Section 2.2(c) BTC Portfolio Holdco Section 2.2(c) Business Day Section 3.3(b) Buy-Sell Section 9.1(a)(i) Buy-Sell Closing Period Section 9.1(d)(i) Buy-Sell Deposit Section 9.1(c) Buy-Sell Notice Section 9.1(a)(i) Buy-Sell Price Section 9.1(a)(ii) Calculation Date Section 5.1(a) Capital Account Section 4.5 Capital Call Funding Period Section 4.3(d) Capital Call Notice Section 4.3(d) Capital Commitment Section 4.3(e) Capital Contributions Section 4.3(a4.3(b) Carried Interest Amount Amounts Section 5.1(b) Carried Interest Deficiency Section 5.3(b) Carried Interest Distributions Section 5.1(c) Cash Available for Distribution Section 5.1(d) Cause Section 7.4(a) Cause Notice Section 7.4(b) CCE Section 2.2(e) Certificate of Limited Partnership Recitals Closing Period Section 8.1(c)(ii)(A) Code Section 2.2(c) Confidential Information Section 12.11(a) Contributing Partner Section 4.4(b) Control Section 12.9 Core Investment Section 2.2(b)(ii) CPR Section 7.4(b) Cumulative 6.58% Internal Rate of Return Amount Section 5.1(e) Cumulative 8.510% Internal Rate of Return Amount Section 5.1(f) Cure Date Section 4.4(c) Dallas Portfolio Cure Period Section 5.1(g) Dallas Portfolio Cash Available for Distribution Section 5.1(h4.4(f) Deadlock Event Section 3.2 Default Date Section 4.4(c) Default Period Section 4.4(c) Defaulting Partner Section 4.4(a) Deposit Section 8.1(c)(ii8.1(c)(iv) Development Investment Section 2.2(b)(iii) Disputed Issue Section 7.4(b) Due Care Section 6.3(a) EC Indemnitee Section 6.7(c) Effective Date Introduction Election Period Section 9.2(b)(i) Eligibility Requirements Section 8.1(b) Embargoed Person Section 12.8(m) ERISA Section 12.8(k) Executive Committee Section 3.1 Executive Officer Section 7.4(a)(iv) Exemption Section 5.7(b) Failed Contribution Section 4.4(f) Final Adjustment Section 6.8(d)(ii) Fiscal Year Section 11.2 Force Majeure Event Section 7.4(a)(ii) Forced Sale Section 9.2(a)(i) Forced Sale Notice Section 9.2(a)(ii) Formation Date Recitals General Partner Introduction General Partner Carried Interest Amount Section 5.1(g) General Partner Carried Interest Amount Deficiency Section 5.3(a)(ii) GP Appraiser Section 6.3(e)(ii) GP Fees Section 6.4(a) GP Indemnitee Section 6.7(b) Guaranty Section 6.4(d) Guaranty Fee Section 6.4(d) Identification Period Section 4.1(a) IIT ILT Section 6.1 Indebtedness Section 2.2(b) (iv2.2(b)(iv) Indemnitee Section 6.7(c) Independent Appraiser Section 6.3(e)(iii) Independent Appraiser Appointment Period Section 6.3(e)(ii6.3(e)(iii) Industrial Opportunities Exhibit O Initial Budget Approval Section 6.3(b)(i) Initial Capital Contributions Section 4.3(a) Initial Investment Brief Section 4.1(c) Initial Partnership Agreement Recitals Initiator Section 9.2(a)(ii) Interest Section 4.2(b) Investment Section 2.2(b)(v) Investment Advisers Act Section 12.8(g) Investment Company Act Section 12.8(f) Investment Entity Section 2.2(c) Investment Entity LLCA Markets Section 2.2(e2.2(a)(i) Investment Memorandum Section 4.1(c) Investment Period Section 4.1(a) Investment Silo Section 2.2(a)(i) Investment Vehicle Exhibit O IPT Introduction IPT/BCG Affiliates Section 6.6(b) IPT Advisors Introduction IPT Advisors Group Introduction IPT Board Section 7.4(a)(vi) IPT Change of Control Section 7.4(a)(vi) IPT HoldCo Introduction IPT Limited Partner Introduction IPT OpCo Introduction IPT Partners Introduction IPT REIT Listing Transaction Section 7.4(a)(vi) IPT Representative Section 3.1 IPT Sell-Down Section 8.1(e) IRS Section 6.8(b) Judicial Review Section 6.8(c) Key Persons Section 6.1 Key Person Event Section 6.1 Leverage Notice Section 2.3 Leverage Targets Section 2.3 Limited Partner Introduction Limited Partner Capital Call Section 4.3(d) Limited Partner Funding Request Section 4.3(d) Limited Partners Introduction Losses Section 6.7(b) LP Appraiser Section 6.3(e)(iii) LP Appraiser Appointment Period Section 6.3(e)(ii6.3(e)(iii) LP Appraiser Notice Section 6.3(e)(iii) LP Capital Contributions Section 5.1(h) LP Distributions Section 5.1(i) LP Indemnitee Section 6.7(c) Major Decision Section 6.2 Marketing Period Section 9.2(b)(iii) Material Adverse Effect Section 7.4(a)(i) Non-Transfer Option Section 8.1(d)(ii) OFAC Section 12.8(l) Offer Section 8.1(c)(i) Offer Period Section 8.1(c)(i) Offer Price Section 8.1(c)(i) Offered Price Section 9.1(a)(ii) Offeree Partners Section 8.1(c)(i) Offering Partner Section 8.1(c)(i) Operating Agreement Section 2.2(c) Oversight Party Section 7.4(b) Partner Introduction Partners Introduction Partnership Introduction Partnership Expenses Section 6.4(c) Partnership Leverage Target Section 2.3 Partnership Tax Audit Rules Section 5.7(a) PBSA Section 12.11(b)(i) Pension Share Section 2.2(h) Percentage Interests Section 4.2(a) Person Section 12.9 Pipeline Investment Section 6.6(a) Pipeline Screening Notice Section 6.6(a) Portfolio Section 2.2(a)(i) Portfolio Appraisal Section 6.3(e)(ii) Portfolio Value Section 6.3(e)(iv) Post-Stabilization Leverage Target Section 2.3 Pre-Stabilization Leverage Target Section 2.3 Preservation Costs Section 4.3(c)(v) Primary Markets Section 2.2(a)(i) Proposed Investments Section 4.1(b) Proposed Portfolio Price Section 9.2(a)(ii) Proposed Purchase Price Section 9.2(b)(iv)(A) Purchasing Partner Section 9.1(a)(ii) QFPF Certification Section 5.7(d)(i) QuadReal Section 12.11(b)(iii) QuadReal College Introduction QuadReal Hydro Introduction QuadReal International Real Estate Recitals QuadReal Limited Partner Introduction QuadReal Municipal Introduction QuadReal Parties Section 12.11(b)(iv) QuadReal Public Service Introduction QuadReal Representative Section 3.1 QuadReal Teachers Introduction QuadReal US Recitals QuadReal WCB Introduction QuadReal WCBAF Introduction Qualified Appraiser Section 6.3(e)(i) Qualified Institutional Transferee Section 8.1(b)(v) Qualified Investment Partner Section 8.1(e) Recipients Section 9.2(a)(ii) Redemption Section 5.3(b)(i) Redemption Closing Date Section 5.3(b)(iii) Redemption Note Section 5.3(b)(ii) Redemption Price Section 5.3(b)(i) Redemption Price Deficiency Section 5.3(b)(ii) Regulated Company Section 2.2(h) Regulated Share Section 2.2(h) REIT Section 6.3(a)(xxv) Removal Date Value Section 7.4(c) Representative Section 3.1 Requesting Partner Section 7.4(b) Required Representation Section 8.1(c)(ii)(A) Responding Partner Section 9.1(a)(ii9.1(a)(i) Response Period Section 9.1(a)(ii) Reviewed Year Partners Section 6.11(h) ROFO Acceptance Notice Section 8.1(c)(i) ROFO Closing Period Section 9.2(b)(ii) ROFO Deposit Section 9.2(b)(ii) ROFO Election Section 9.2(b)(ii) ROFO Price Section 9.2(a)(ii) ROFO Sale Section 9.2(b)(i) ROFR Notice Section 9.2(b)(iv)(A) ROFR Closing Period Section 9.2(b)(iv)(B) ROFR Election Section 9.2(b)(iv)(A) ROFR Exercise Period Section 9.2(b)(iv)(A) ROFR Notice Section 9.2(b)(iv)(A) ROFR Price Section 9.2(b)(iv)(A) ROFR Sale Section 9.2(b)(iv)(A) SDT Representative Section 3.3(c) SEC Section 9.1(a)(iii) Securities Act Section 12.8(d) Sell-Down Transferee Section 8.1(e) Selling Partner Section 9.1(a)(ii) Senior Preferred Equity Contributions Section 4.4(b)(ii) Senior Preferred Return Section 4.4(b)(ii) Stabilization Section 2.3 Strategic Land Investment Section 6.2(a) Substitute General Partner List Section 7.4(d) Supporting Materials Section 6.3(b) Tag Along Notice Section 8.1(d)(i) Tag Along Offer Terms Section 8.1(d)(i) Tag Along Option Section 8.1(d)(ii) Tag Along Purchaser Section 8.1(d)(i) Tag Along Transfer Section 8.1(d) Tax Audit Section 6.8(c) Tax Matters Partner Section 6.8(a) Term Section 1.3 Transfer Section 8.1(a) Transferee Section 8.1(a) Trigger Date Section 8.1(b) Triggering Partner Section 9.1(a)(i) Unfunded Amount Section 4.4(a) Unlevered LP Capital Contributions Section 5.1(i) Unlevered LP Distributions Section 5.1(j) Unrelated Third Party Section 12.9 Value-Add Investment Section 2.2(b)(vi) Willful Bad Acts Section 7.4(a)(v) Schedules and Exhibits Schedule 1 Names, Addresses, Percentage Interests of Partners Exhibit A Capital Accounts; Allocation Rules Exhibit B Primary Markets Exhibit C Target Investment Characteristics Exhibit D GP Fees Exhibit E Substitute General Partner List Exhibit F CPR Arbitration Exhibit G Form of Investment Entity Operating Agreement Exhibit H Reporting Requirements Exhibit I Objectives Exhibit J Certain Defined Terms and Distributions Exhibit K Restrictions on Authority Exhibit L Presentation of Investments Exhibit M Cause Exhibit N Qualified Investment Partners AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF Build-To-Core Industrial Partnership I LP THIS AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (this “Agreement”) of Build-To-Core Industrial Partnership I LP, a Delaware limited partnership (the “Partnership”) is made and entered into as of February 12, 2015, by and among: (a) IPT BTC I GP LLC, a Delaware limited liability company, as general partner (the “General Partner”), which is a subsidiary of IPT Real Estate Holdco LLC, a Delaware limited liability company (“IPT HoldCo”), which in turn is a subsidiary of Industrial Property Operating Partnership LP (“IPT OpCo”), which in turn is a subsidiary of Industrial Property Trust Inc. (“IPT”); (b) IPT BTC I LP LLC, a Delaware limited liability company, which is a subsidiary of IPT HoldCo, which in turn is a subsidiary of IPT OpCo, which in turn is a subsidiary of IPT, as a limited partner (the “IPT Limited Partner” and, together with the General Partner, collectively, the “IPT Partners”); (c) bcIMC International Real Estate (2004) Investment Corporation, a Canadian corporation, as a limited partner (the “BCIMC Pension Partner”); and (d) bcIMC (WCBAF) Realpool Global Investment Corporation, a Canadian corporation, as a limited partner (the “BCIMC Accident Fund Partner” and, together with the BCIMC Pension Partner, collectively, the “BCIMC Limited Partner”). The BCIMC Limited Partner and the IPT Limited Partner shall each be referred to herein individually as a “Limited Partner” and collectively as the “Limited Partners” and the Limited Partners and General Partner, each shall be referred to herein individually as a “Partner” and collectively as the “Partners.”
Appears in 1 contract
Samples: BLACK CREEK INDUSTRIAL REIT IV Inc.
