AMENDMENT NO. 2 TO THE AGREEMENT AND PLAN OF MERGER AND ARRANGEMENT AGREEMENT Among TRIZEC PROPERTIES, INC. TRIZEC HOLDINGS OPERATING LLC, TRIZEC CANADA INC., GRACE HOLDINGS LLC, GRACE ACQUISITION CORPORATION GRACE OP LLC and 4162862 CANADA LIMITED...
Exhibit 2.2
AMENDMENT NO. 2
TO THE
AGREEMENT AND PLAN OF MERGER
AND
ARRANGEMENT AGREEMENT
Among
TRIZEC PROPERTIES, INC.
TRIZEC HOLDINGS OPERATING LLC,
TRIZEC CANADA INC.,
GRACE HOLDINGS LLC,
GRACE ACQUISITION CORPORATION
GRACE OP LLC
and
4162862 CANADA LIMITED
Dated as of August 2, 2006
THIS AMENDMENT NO. 2 TO THE AGREEMENT AND PLAN OF MERGER AND ARRANGEMENT AGREEMENT, dated as
of August 2, 2006 (this “Amendment”), is entered into by and among Trizec Properties, Inc.,
a Delaware corporation (“Trizec”), Trizec Holdings Operating LLC, a Delaware limited
liability company (the “Operating Company”, and together with Trizec, the “Trizec
Parties”), Trizec Canada Inc., a Canadian corporation (“TZ Canada”), Grace Holdings
LLC, a Delaware limited liability company (“Parent”), Grace Acquisition Corporation, a
Delaware corporation and a wholly-owned subsidiary of Parent (“MergerCo”), Grace OP LLC, a
Delaware limited liability company (“Merger Operating Company”), 4162862 Canada Limited, a
Canadian corporation and an affiliate of Parent
(“AcquisitionCo,” and together with Parent,
MergerCo and Merger Operating Company, the “Buyer Parties”). Capitalized terms used but
not defined herein shall have the meanings ascribed to them in the Agreement and Plan of Merger and
Arrangement Agreement, dated as of June 5, 2006, by and among the Trizec Parties, TZ Canada, and
the Buyer Parties (the “Merger Agreement”).
WHEREAS, the parties have previously amended the Merger Agreement pursuant to Amendment No. 1
to the Merger Agreement dated as of July 20, 2006 (“Amendment No. 1”);
WHEREAS, the parties have agreed to amend the Merger Agreement for the second time to provide
for the various matters set forth herein; and
WHEREAS, the Board of Directors of Trizec, the Board of Directors of TZ Canada, and the board
of directors or other governing body of each of the Buyer Parties have each approved the amendments
of the Merger Agreement set forth herein.
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
hereby agree as follows:
1. Amendment of Section 2.03. Sections 2.03(a) and (b) of the Merger Agreement hereby
are replaced in their entirety with the following:
“SECTION 2.03. Effective Times of the Mergers and Arrangement.
(a) At the Closing, TZ Canada shall send to the Director appointed under the CBCA, for
endorsement and filing by the Director, the Articles of Arrangement and such other documents as may
be required in connection therewith under the CBCA to give effect to the Arrangement. The
Arrangement shall become effective upon the issuance of a certificate of arrangement and as at the
“Effective Time” as such term is defined in the Plan of Arrangement (the “Plan of Arrangement
Effective Time”).
(b) At the Closing, promptly after the Plan of Arrangement Effective Time, Trizec shall duly
execute and file a certificate of merger with respect to the Trizec Merger, in such form as is
required by, and executed in accordance with, the relevant provisions of the DGCL (the “Trizec
Certificate of Merger”), with the Secretary of State of the State of Delaware (the
“DSOS”) in accordance with the DGCL. The Trizec Merger shall become effective upon such
time as the Trizec Certificate of Merger has been filed with the DSOS, or such later time which the
parties hereto shall have agreed upon and designated
in such filing in accordance with the DGCL as the effective time of the Trizec Merger (the
“Trizec Merger Effective Time”).”
2.
Correction of Cross-References.
(a) In Section 1.01(a) of the Merger Agreement, the references to “Section
2.03(a)” under the defined terms “DSOS,” “Trizec Certificate of Merger” and “Trizec
Merger Effective Time” hereby are revised to read “Section 2.03(b)”in each case.
(b) In Section 1.01(a) of the Merger Agreement, the references to “Section
2.03(b)” under the defined term “Plan of Arrangement Effective Time” hereby are
revised to read “Section 2.03(a).”
3.
Amendment to Exhibit A (Plan of Arrangement). Exhibit A to the Merger
Agreement hereby is replaced in its entirety with Annex 1 attached hereto.
4. Amendment to Exhibit I (Form of Xxxxx & Xxxxxxx L.L.P. Tax Opinion). Exhibit
I to the Merger Agreement hereby is replaced in its entirety with Annex 2 attached
hereto.
5. Inclusion of New Section 8.16. The Merger Agreement is amended by adding a new
section after Section 8.15 as follows:
“SECTION 8.16. Certain Tax Elections. TZ Canada agrees, and Parent and AcquisitionCo
agree to cause TZ Canada, to elect in its return of income under Part I of the Income Tax Act
(Canada) not to have subsection 256(9) of the Income Tax Act (Canada) apply in respect of the
acquisition of control of TZ Canada pursuant to the Plan of Arrangement, and to make any analogous
election pursuant to provincial law.”
6. Amendment of Section 9.01. The reference to “Trizec Merger” in the first sentence
of Section 9.01 of the Merger Agreement hereby is amended to read “Mergers.”
7. Amendment of Section 9.02. The reference to “Trizec Merger” in the first sentence
of Section 9.02 of the Merger Agreement hereby is amended to read “Mergers.”
8. Counterparts. This Amendment may be executed and delivered (including by
facsimile transmission) in two or more counterparts, and by the different parties hereto in
separate counterparts, each of which when executed shall be deemed to be an original but all of
which taken together shall constitute one and the same Amendment.
9. Except as amended hereby, the Merger Agreement, as amended by Amendment No. 1, shall
remain in full force and effect.
[SIGNATURES APPEAR ON THE FOLLOWING PAGES]
IN WITNESS WHEREOF, the Buyer Parties, the Trizec Parties and TZ Canada have caused this
Amendment to be executed as of the date first written above by their respective officers thereunto
duly authorized.
GRACE HOLDINGS LLC | ||||||||
By | /s/ | Xxxxxxx X. Xxxxx | ||||||
Name: | Xxxxxxx X. Xxxxx | |||||||
Title: | President & Chief Executive Officer |
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GRACE ACQUISITION CORPORATION | ||||||||
By | /s/ | Xxxxxxx X. Xxxxx | ||||||
Name: | Xxxxxxx X. Xxxxx | |||||||
Title: | President & Chief Executive Officer |
|||||||
GRACE OP LLC | ||||||||
By | /s/ | Xxxxxxx X. Xxxxx | ||||||
Name: | Xxxxxxx X. Xxxxx | |||||||
Title: | President & Chief Executive Officer |
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4162862 CANADA LIMITED | ||||||||
By | /s/ | Xxxxxxx X. Xxxxx | ||||||
Name: | Xxxxxxx X. Xxxxx | |||||||
Title: | President & Chief Executive Officer |
[SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE AGREEMENT AND PLAN OF MERGER AND ARRANGEMENT AGREEMENT]
TRIZEC PROPERTIES, INC. | ||||||||
By | /s/ | Xxxxxxx X. Xxxxxxxx | ||||||
Name: | Xxxxxxx X. Xxxxxxxx | |||||||
Title: | Executive Vice President & Chief Financial Officer |
|||||||
TRIZEC HOLDINGS OPERATING LLC | ||||||||
By: Trizec Properties, Inc., its sole managing member | ||||||||
By | /s/ | Xxxxxxx X. Xxxxxxxx | ||||||
Name: | Xxxxxxx X. Xxxxxxxx | |||||||
Title: | Executive Vice President & Chief Financial Officer |
|||||||
TRIZEC CANADA INC. | ||||||||
By | /s/ | Xxxxxx X. Xxxxxxx | ||||||
Name: Title: |
Xxxxxx X. Xxxxxxx President |
|||||||
By | /s/ | Xxxxx X. Xxxxxx | ||||||
Name: | Xxxxx X. Xxxxxx | |||||||
Title: | Senior Vice President, Chief Financial Officer & Corporate Secretary |
[SIGNATURE PAGE TO AMENDMENT NO. 2 TO THE AGREEMENT AND PLAN OF MERGER AND ARRANGEMENT AGREEMENT]