FIFTH AMENDMENT TO SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF RETAIL OPPORTUNITY INVESTMENTS PARTNERSHIP, LP
Exhibit 10.3
FIFTH AMENDMENT
TO
SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP
OF
RETAIL OPPORTUNITY INVESTMENTS PARTNERSHIP, LP
This Fifth Amendment (this “Amendment”) to the Partnership Agreement (as defined below) of Retail Opportunity Investments Partnership, LP, a Delaware limited partnership (the “Partnership”), is made and entered as of March 10, 2016 by Retail Opportunity Investments GP, LLC, a Delaware limited liability company, which is the sole general partner of the Partnership (the “General Partner”).
WHEREAS, an Amendment to the Certificate of Limited Partnership of the Partnership was filed in the office of the Secretary of State of the State of Delaware on January 5, 2010;
WHEREAS, the General Partner and the limited partners of the Partnership entered into an Agreement of Limited Partnership of the Partnership, dated as of January 5, 2010, pursuant to which the Partnership was formed;
WHEREAS, the General Partner and the limited partners of the Partnership entered into the Second Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of September 27, 2013, as amended on December 11, 2014, and as further amended on December 4, 2015, December 10, 2015 and December 31, 2015 (the “Partnership Agreement”);
WHEREAS, capitalized terms used but not defined herein shall have the meanings ascribed to them in the Partnership Agreement.
WHEREAS, pursuant to the terms and provisions of that certain Purchase and Sale Agreement dated December 4, 2015, by and among Retail Opportunity Investments Corp., a Maryland corporation (the “REIT”), the Partnership, and the Seller (as defined therein) (the “Purchase Agreement”), the Partnership, or its assignee, intends to purchase the real property and improvements commonly known as Casitas Plaza Shopping Center, located at 0000 Xxxxxxxxxxx Xxxxxx, Xxxx of Carpinteria, Santa Xxxxxxx County, California and Magnolia Center located at 0000 Xxxxxxxxx Xxxxxx, Xxxx of Santa Xxxxxxx, Santa Xxxxxxx County, California (the “Property”) from the Seller;
WHEREAS, in connection with the Purchase Agreement, the REIT and the Partnership entered into a Contribution Agreement, dated the date hereof, with the Seller (as defined therein, the “Contributor”)), and the Partnership shall issue OP Units, to pay the Purchase Price (as defined in the Purchase Agreement) for the Property, to the Contributor in exchange for the Property in accordance with the terms of the Purchase Agreement;
WHEREAS, pursuant to Section 4.03(a) of the Partnership Agreement, the General Partner has the power, without the prior consent of the Limited Partners (as defined in the Partnership Agreement), to cause the Partnership to issue additional Partnership Interests, in the form of Partnership Units (which includes OP Units), on such terms and conditions as shall be established by the General Partner in it sole and absolute discretion, in accordance with the Partnership Agreement; and
WHEREAS, pursuant to Sections 4.03(a) and 7.03(c) of the Partnership Agreement, the General Partner has the power, without the prior consent of the Limited Partners, to amend the Partnership Agreement to reflect any change in ownership of Partnership Interests, and the General Partner has determined that it is necessary and desirable to amend the Partnership Agreement, including any exhibits or schedules thereto, in order to reflect such changes.
NOW, THEREFORE, the General Partner desires to effect this Amendment to the Partnership Agreement as provided herein:
| 1. |
Exhibit A. Exhibit A to the Partnership Agreement is hereby amended and restated in its entirety as set forth in Schedule A hereto.
|
| 2. |
Partnership Agreement. Except as set forth herein, the Partnership Agreement shall remain in full force and effect.
|
| 3. |
Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws of the State of Delaware.
|
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IN WITNESS WHEREOF, this Fifth Amendment to the Partnership Agreement has been executed as of the date first written above.
GENERAL PARTNER:
Retail Opportunity Investments GP, LLC,
a Delaware limited liability company
By: Retail Opportunity Investments Corp.,
a Maryland corporation,
its sole member
By: /s/ Xxxxxxx X. Xxxxxx
Name: Xxxxxxx X. Xxxxxx
Title: Chief Financial Officer
SCHEDULE A
PARTNERS AND PARTNERSHIP UNITS
As of March 10, 2016
| Name of Partner | Partnership Units (Amount) | Type | Address |
| General Partner: | |||
| Retail Opportunity Investments GP, LLC | 1,121,742 | OP Units |
0000 Xxxxx Xxxxxx Xxxxx, Xxxxx 000,
Xxx Xxxxx, Xxxxxxxxxx 00000
Attention: Chief Financial Officer
|
| Limited Partners: | |||
| Retail Opportunity Investments Corp. | 98,250,832 | OP Units |
0000 Xxxxx Xxxxxx Xxxxx, Xxxxx 000,
Xxx Xxxxx, Xxxxxxxxxx 00000
Attention: Chief Financial Officer
|
| Xxxx Xxxx | 23,986 | OP Units |
00000 Xxxxxx Xxx.
Xxxxxxx Xxxxxxxxx, XX 00000
|
| Xxx Xxxx | 14,290 | OP Units |
00 Xxxxxxx Xxxxxx
Xxxxxxxx, XX 00000
|
| Xxxx Family Trust | 48,010 | OP Units |
c/o Rawson, Xxxx & Co.
000 Xxxxxxx Xxxxxx, Xxxxx 000
Xxx Xxxxxxxxx, XX 00000
|
| Xxxx Irrev. Trust, The Xxxxxx | 4,602 | OP Units |
c/o Rawson, Xxxx & Co.
000 Xxxxxxx Xxxxxx, Xxxxx 000
Xxx Xxxxxxxxx, XX 00000
|
| Xxxxx Xxxx | 14,919 | OP Units |
000 Xx. Xxxxx Xxxxxxxx Xxxx
Xxxxxxxxxx, XX 00000
|
| Clahan Revocable Trust | 46,840 | OP Units |
c/o Xxxxxx Xxxxxx
00 Xxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
|
| Xxxxxx Xxxx | 14,371 | OP Units | 000 Xxxx Xxxxxx, #0000 Xxx Xxxxxxxxx, XX 00000 |
| Partner | Partnership Units (Amount) | Type | Addre |
| Xxxxx Xxxx | 11,850 | OP Units |
00000 XX 0xx Xx, Xxxxx 000
Xxxxxxxx, XX 00000
|
| Xxxxxx Xxxx | 14,290 | OP Units |
0000 00xx Xxxxxx
Xxx Xxxxxxxxx, XX 00000
|
| Xxxxx Xxxx | 10,889 | OP Units |
00000 XX 0xx Xx, Xxxxx 000
Xxxxxxxx, XX 00000
|
| Xxxxxx Xxxx | 8,295 | OP Units |
00000 XX 0xx Xx, Xxxxx 000
Xxxxxxxx, XX 00000
|
| Xxxxxx, Xxxx & Co. | 732 | OP Units |
c/o Rawson, Xxxx & Co.
000 Xxxxxxx Xxxxxx, Xxxxx 000
Xxx Xxxxxxxxx, XX 00000
|
| Xxxxxx, Living Trust | 79,562 | OP Units |
c/o Xxxxx Xxxxxx
0000 Xxxxx Xxxxxx
Xxx Xxxxxxxxx, XX 00000
|
| Xxxxxxx Xxxxxxxxxx | 10,889 | OP Units |
0000 00xx Xxxxxx XX
Xxxxxxx, XX 00000
|
| SARM Enterprises | 566,499 | OP Units |
00000 XX 0xx Xx, Xxxxx 000
Xxxxxxxx, XX 00000
|
| Sher GP, Inc. | 4,196 | OP Units |
c/o Xxxxxx Xxxx
00000 XX 0xx Xx., Xxxxx 000
Xxxxxxxx, XX 00000
|
| Xxxx, Xxxxxxx & Xxxxxx Living Trust | 128,632 | OP Units |
c/o Sher Partners
00000 XX 0xx Xx., Xxxxx 000
Xxxxxxxx, XX 00000
|
| Xxxx, Xxxxxx | 143,160 | OP Units |
00000 XX 0xx Xx., Xxxxx 000
Xxxxxxxx, XX 00000
|
| TCA Holdings LLC | 1,581,813 | OP Units |
00000 XX 0xx Xx., Xxxxx 000
Xxxxxxxx, XX 00000
|
| Terranomics | 2,209 | OP Units |
c/o Sher Partners
00000 XX 0xx Xx., Xxxxx 000
Xxxxxxxx, XX 00000
|
| Xxxxxx Xxxxx | 24,236 | OP Units |
00 Xxxx Xxxxx Xxxx
Xxxxxxx, XX 00000
|
| W&P Xxxxxxx Trust dated 9/13/11 | 2,813 | OP Units |
00000 Xxxxxxxxxx Xxxx
Xxxxx, XX 00000
|
| XX Xxxxxxxx, LLC | 989,272 | OP Units |
00000 Xxx Xxxx Xxxx
Xxxxxx, Xxxxxx 00000
|
| Partner | Partnership Units (Amount) | Type | Addre |
| Xxxxxx X. Xxxxx | 377,788 | OP Units |
000 Xxxxx Xxxx
Xxxxx, XX 00000
|
| Xxxxx X. Xxxxxx and Xxx X. Xxxxxx Revocable Trust U/A dated December 12, 1996 | 113,657 | OP Units |
000 Xxxxx Xxxx
Xxxxx, XX 00000
|
| 2015 JSG Separate Property Trust dated as of November 24, 2015 | 20,254 | OP Units |
000 Xxxxx Xxxx
Xxxxx, XX 00000
|
| Xxxxxx Xxxxxx | 20,254 | OP Units |
0000 Xxxx Xxxxxx Xxx
Xxxxxxxxxxx, XX 00000
|
| XxXxxxxx Family Trust dated January 6, 1993 | 150,503 | OP Units |
000 Xxxxxxxx Xxxx.
Xxxxxxx Xxxxxxx, XX 00000
|
| Xxxxxxx XxXxxxxxxx | 32,210 | OP Units |
00000 Xxxxx Xxxx Xxxx
Xxxxxxxxxx, XX 00000
|
| Xxxxxx X. XxXxxxxxxx | 32,210 | OP Units |
000 Xxxxxxxx Xxxx
Xxxxxxxx, XX 00000
|
| Xxxxxxx XxXxxxxxxx | 32,210 | OP Xxxxx |
00 Xxxxx Xx.
Xxxxxxxxx, XX 00000
|
| Xxxx X. XxXxxxxxxx QTIP Trust dated April 28, 1988 | 32,210 | OP Units |
0 Xxxxx Xxxxx
Xxxxxxxx, XX 00000
|
| Xxxxx Xxxxxxxxx | 32,210 | OP Units |
0000 X. Xxxxxxx Xxx
Xxxxxxx, XX 00000
|
| CDD&D Management, LLC | 1,627 | OP Units |
000 Xxxxxxxx Xxxx
Xxxxxxxx, XX 00000
|
| Cesped 1992 Family Trust dated February 26, 1992 | 65,065 | OP Units |
000 Xxxxx Xxxxx
Xxxxxxx Xxxxxxx, XX 00000
|
| Xxxxx X. Xxxxxx | 16,271 | OP Units |
00000 Xxxxxxxxxxxx Xx
Xxxxxx, XX 00000
|
| Xxxxxx 2005 Family Trust | 16,271 | OP Units |
000 Xxxxxxxxxxx Xxx
Xxx Xxxxxx, XX 00000
|
| Holpainen Holdings, LLC | 32,533 | OP Units |
0000 X. Xxxxxxx Xxx
Xxxxxxx, XX 00000
|
| Xxxx Xxxxxxxx & Xxxxx Xxxxxxxx | 16,267 | OP Units |
0000 Xxxxx Xx.
Xxxxxxx, XX 00000
|
| Xxxxxxxx Family Trust dated May 21, 2004 | 32,556 | OP Units |
000 Xxxxxxxxx Xxxx.
Xxxx Xxxxxxxxxx, XX 00000
|
| Xxx and Xxxxxx Xxxxxxxx Family Revocable Trust Established May 1,2006 | 40,685 | OP Units |
000 Xxxxxxxxx Xxxx.
Xxxx Xxxxxxxxxx, XX 00000
|
| Partner | Partnership Units (Amount) | Type | Addre |
| Xxxx X. Xxxxxxxx and Xxxxxx Xxxxxxxx | 40,685 | OP Units |
000 Xxxxxxxxx Xxxx.
Xxxx Xxxxxxxxxx, XX 00000
|
| Xxxxxxx X. Xxxxxxxx and Xxxxxxxx Xxxxxxxx | 8,141 | OP Units |
000 Xxxxxxxxx Xxxx.
Xxxx Xxxxxxxxxx, XX 00000
|
| Xxxxxxx X. Xxxxxxxx | 118,787 | OP Units |
000 Xxxxxxxxx Xxxxx
Xxxxxxxxx, XX 00000
|
| Xxx Xxxxxxxx |
94,126 (SC Limited Participation)
305,911
|
OP Units |
00000 XX Xxxxx Xxxx Xxxx
Xxxxxxx, XX 00000
|
| Xxxxx Xxxxxxxx |
117,658
188,253 (SC Limited Participation)
|
OP Units |
0 Xxxxx Xxxx Xxxxx #00x
Xxxxxxxx, XX 00000
|
| Xxxxxxx Xxxxxxxx | 289,017 | OP Units |
0000 Xxxxxxxxx Xxxx
Xxxxxx Xxxxxx, XX 00000
|
| Plaza International | 4,393,064 | OP Units |
00000 Xxxxxxx Xxxxxxxxx
Xxxxxxxx Xxxxx, XX 00000
|
| Xxxxxxx Property Company | 2,434,833 | OP Units |
Xxxxxxx Property Company
000 Xxxxx Xxxx, Xxxxx 000
Xxxxx Xxxxxxx, Xxxxxxxxxx 00000
|
| TOTALS | 112,174,185 | OP Units |
