AMB PROPERTY II, L.P. FIRST AMENDMENT TO FOURTEENTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP
Exhibit
10.6
AMB PROPERTY II, L.P.
FIRST AMENDMENT TO
FOURTEENTH AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP
FIRST AMENDMENT TO
FOURTEENTH AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP
This First Amendment (this “Amendment”) is made as of January 1, 2008, 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 Fourteenth Amended and Restated Agreement of Limited Partnership of the Partnership,
dated as of February 22, 2007 (the “Partnership Agreement”). All defined terms used herein but not
defined herein have the meanings assigned to them in the Partnership Agreement.
WHEREAS, AMB Property III, LLC (f/k/a Texas AMB I, LLC), a Delaware limited liability company,
was a party to the Partnership Agreement as General Partner of the Partnership holding
approximately 1% of the partnership interests of the Partnership;
WHEREAS, effective as of January 1, 2008, AMB Property Holding Corporation acquired the entire
general partnership interest of AMB Property III, LLC (f/k/a Texas AMB I, LLC) in and to the
Partnership;
WHEREAS, as the successor-in-interest to AMB Property III, LLC (f/k/a Texas AMB I, LLC)’s
general partnership interest in and to the Partnership, AMB Property Holding Corporation desires to
acknowledge and confirm it has assumed all right, title and interest in and to the entire general
partnership interest in and to the Partnership and agrees to be bound by the provisions in the
Partnership Agreement as General Partner and to perform all obligations of the General Partner
thereunder;
WHEREAS, the Partnership repurchased all of its outstanding 8.00% Series I Cumulative
Redeemable Preferred Limited Partnership Units as of April 17, 2007;
WHEREAS, the General Partner desires to amend Exhibit A to the Partnership Agreement
to reflect the transactions described above.
NOW THEREFORE, in consideration of the mutual agreements set forth herein, pursuant to
Sections 2.4 and 7.3(D) 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. Acknowledgement of General Partner.
AMB Property Holding Corporation acknowledges and confirms that it has assumed all right,
title and interest in and to the entire general partnership interest in and to the Partnership from
Texas AMB I, LLC and agrees to be bound by the provisions in the Partnership Agreement as General
Partner and to perform all obligations of the General Partner thereunder.
Section 2. Amendments to the Partnership Agreement.
Exhibit A to the Partnership Agreement is deleted in its entirety and replaced with
Exhibit A attached hereto.
Section 3. Miscellaneous.
3.1 Governing Law. This Amendment shall be construed under and governed by the
internal laws of the State of Delaware without regard to its conflicts of laws provisions.
3.2 Amendments. This Amendment may not be amended or modified except by a writing duly
and validly executed by each party hereto.
Section 4. 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 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.
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/ Xxxxxx X. Xxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxx | |||
Title: | Chief Financial Officer | |||
LIMITED PARTNERS: AMB PROPERTY HOLDING CORPORATION, a Maryland corporation, as attorney-in-fact for each of the Limited Partners |
||||
By: | /s/ Xxxxxx X. Xxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxx | |||
Title: | Chief Financial Officer |
EXHIBIT A
PARTNERS, CONTRIBUTIONS, AND PARTNERSHIP INTERESTS
I. Common Units
Agreed Value of | Percentage | Common | ||||||||||||||||||||||||||
Contribution | Cash | Contributed | Total | Partnership | Interest | Percentage | ||||||||||||||||||||||
Name of Partner | Date | Contributions | Property | Contributions | Units | in Class | Interest | |||||||||||||||||||||
Class A Common Units |
||||||||||||||||||||||||||||
General Partner: |
||||||||||||||||||||||||||||
AMB Property Holding Corporation |
11/26/97 | — | $ | 3,626,023 | $ | 3,626,023 | 172,668 | — | — | |||||||||||||||||||
AMB Property Holding Corporation |
12/31/01 | — | ($3,626,023 | ) | ($3,626,023 | ) | (172,668 | ) | — | — | ||||||||||||||||||
Texas AMB I, LLC |
12/31/01 | — | $ | 3,626,023 | $ | 3,626,023 | 172,668 | — | — | |||||||||||||||||||
Texas AMB I, LLC |
1/1/08 | — | ($3,626,023 | ) | ($3,626,023 | ) | (172,668 | ) | — | — | ||||||||||||||||||
AMB Property Holding Corporation |
1/1/08 | — | $ | 3,626,023 | $ | 3,626,023 | 172,668 | .99624 | % | .92878 | % | |||||||||||||||||
Limited Partners: |
||||||||||||||||||||||||||||
AMB Property, L.P. |
11/26/97 | — | $ | 358,976,301 | $ | 358,976,301 | 17,094,110 | 98.62717 | % | 91.94948 | % | |||||||||||||||||
06/30/98 | — | $ | 1,161,489 | $ | 1,161,489 | 47,602 | .27465 | % | .25605 | % | ||||||||||||||||||
7/20/05 | — | $ | 544,704 | $ | 544,704 | 17,670 | .10195 | % | .09505 | % | ||||||||||||||||||
Total Class A Common Units |
— | $ | 364,308,517 | $ | 364,308,517 | 17,332,050 | 100.0000 | % | 93.22936 | % | ||||||||||||||||||
Class B Common Units |
||||||||||||||||||||||||||||
Xxxx Xxxxxxxx, LLC |
11/14/03 | — | $ | 2,307,918 | $ | 2,307,918 | 74,868 | — | — | |||||||||||||||||||
Xxxx Xxxxxxxx, LLC |
11/14/03 | — | ($2,307,918 | ) | ($2,307,918 | ) | (74,868 | ) | — | — | ||||||||||||||||||
East Grand Business Center
Partnership, L.P. |
11/14/03 | — | $ | 2,178,817 | $ | 2,178,817 | 70,680 | — | — | |||||||||||||||||||
East Grand Business Center
Partnership, L.P. |
11/14/03 | — | ($2,178,817 | ) | ($2,178,817 | ) | (70,680 | ) | — | — | ||||||||||||||||||
Xxxx Xxxxxxxx |
11/14/03 | — | $ | 1,314,010 | $ | 1,314,010 | 42,626 | 3.38647 | % | .22929 | % | |||||||||||||||||
Xxxxxxxx Xxxxxxxx (Trust) |
11/14/03 | — | $ | 544,704 | $ | 544,704 | 17,670 | — | — | |||||||||||||||||||
Xxxx Xxxxxx |
11/14/03 | — | $ | 1,858,715 | $ | 1,858,715 | 60,296 | 4.79029 | % | .32433 | % | |||||||||||||||||
Xxxx Xxxxxxxx (Trust) |
11/14/03 | — | $ | 769,306 | $ | 769,306 | 24,956 | 1.98266 | % | .13424 | % | |||||||||||||||||
Xxxxxxxx Xxxxxxxx (Trust) |
7/20/05 | — | ($544,704 | ) | ($544,704 | ) | (17,670 | ) | — | — | ||||||||||||||||||
X.X. Xxxxx Development Corp. |
11/01/06 | — | $ | 31,117,860 | $ | 31,117,860 | 552,515 | 43.89523 | % | 2.97199 | % | |||||||||||||||||
JAGI, Inc. |
11/01/06 | — | $ | 32,571,170 | $ | 32,571,170 | 578,320 | 45.94534 | % | 3.11079 | % | |||||||||||||||||
Total Class B Common Units |
— | $ | 67,631,061 | $ | 67,631,061 | 1,258,713 | 100.0000 | % | 6.77064 | % | ||||||||||||||||||
Total Combined Common Units |
— | $ | 431,939,578 | $ | 431,939,578 | 18,590,763 | 100.0000 | % | 100.0000 | % | ||||||||||||||||||
EXHIBIT A
PARTNERS, CONTRIBUTIONS, AND PARTNERSHIP INTERESTS
II. Series C Preferred Units
Agreed Value of | ||||||||||||||||||||||||
Contribution | Cash | Contributed | Total | Series C | Percentage | |||||||||||||||||||
Name of Partner | Date | Contributions | Property | Contributions | Partnership 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 | $ | 19,050,000 | — | $ | 19,050,000 | 381,000 | 17.31818 | % | |||||||||||||||
Belair Real Estate Corporation |
2/23/99 | ($19,050,000 | ) | — | ($19,050,000 | ) | (381,000 | ) | (17.31818 | %) | ||||||||||||||
Belcrest Realty Corporation |
4/29/99 | $ | 11,950,000 | — | $ | 11,950,000 | 239,000 | 10.86364 | % | |||||||||||||||
Belair Real Estate Corporation |
4/29/99 | ($11,950,000 | ) | — | ($11,950,000 | ) | (239,000 | ) | (10.86364 | %) | ||||||||||||||
Argosy Realty Corporation |
7/9/99 | $ | 1,625,300 | — | $ | 1,625,300 | 32,506 | 1.47755 | % | |||||||||||||||
Belmar Realty Corporation |
7/9/99 | $ | 1,625,300 | — | $ | 1,625,300 | 32,506 | 1.47755 | % | |||||||||||||||
Belport Realty Corporation |
7/9/99 | $ | 1,625,300 | — | $ | 1,625,300 | 32,506 | 1.47755 | % | |||||||||||||||
Belrieve Realty Corporation |
7/9/99 | $ | 1,625,300 | — | $ | 1,625,300 | 32,506 | 1.47755 | % | |||||||||||||||
Belair Real Estate Corporation |
7/9/99 | ($6,501,200 | ) | — | ($6,501,200 | ) | (130,024 | ) | (5.91018 | %) | ||||||||||||||
Belcrest Realty Corporation |
7/28/99 | $ | 15,000,000 | — | $ | 15,000,000 | 300,000 | 13.63636 | % | |||||||||||||||
Belair Real Estate Corporation |
7/28/99 | ($15,000,000 | ) | — | ($15,000,000 | ) | (300,000 | ) | (13.63636 | %) | ||||||||||||||
Belmar Realty Corporation |
3/17/00 | ($1,625,300 | ) | — | ($1,625,300 | ) | (32,506 | ) | (1.47755 | %) | ||||||||||||||
Belcrest Realty Corporation |
3/17/00 | ($12,500,000 | ) | — | ($12,500,000 | ) | (250,000 | ) | (11.36364 | %) | ||||||||||||||
Belair Real Estate Corporation |
3/17/00 | $ | 14,125,300 | — | $ | 14,125,300 | 282,506 | 12.84118 | % | |||||||||||||||
Belair Real Estate Corporation |
12/19/00 | $ | 1,625,300 | — | $ | 1,625,300 | 32,506 | 1.47755 | % | |||||||||||||||
Altavera Realty Corporation,
formerly known as Belrieve
Realty Corporation |
12/19/00 | ($1,625,300 | ) | — | ($1,625,300 | ) | (32,506 | ) | (1.47755 | %) | ||||||||||||||
Belport Realty Corporation |
3/14/01 | ($1,625,300 | ) | — | ($1,625,300 | ) | (32,506 | ) | (1.47755 | %) | ||||||||||||||
Belair Real Estate Corporation |
3/14/01 | $ | 1,625,300 | — | $ | 1,625,300 | 32,506 | 1.47755 | % | |||||||||||||||
Argosy Realty Corporation |
12/5/01 | ($1,625,300 | ) | — | ($1,625,300 | ) | (32,506 | ) | (1.47755 | %) | ||||||||||||||
Belair Real Estate Corporation |
12/5/01 | ($50,874,700 | ) | — | ($50,874,700 | ) | (1,017,494 | ) | (46.24972 | %) | ||||||||||||||
Belcrest Realty Corporation |
12/5/01 | ($57,500,000 | ) | — | ($57,500,000 | ) | (1,150,000 | ) | (52.27272 | %) | ||||||||||||||
Total Series C Preferred Units |
0 | — | 0 | 0 | 000.0000 | % | ||||||||||||||||||
III. Series D Preferred Units
Agreed Value of | ||||||||||||||||||||||||
Contribution | Cash | Contributed | Total | Series D | Percentage | |||||||||||||||||||
Name of Partner | Date | Contributions | Property | Contributions | Partnership Units | Interest | ||||||||||||||||||
Limited Partner: |
||||||||||||||||||||||||
X.X. Xxxxxx Mosaic Fund, LLC |
5/5/99 | $ | 79,766,850 | — | $ | 79,766,850 | 1,595,337 | 100.0000 | % | |||||||||||||||
X.X. Xxxxxx Mosaic Fund, LLC |
12/31/01 | ($79,766,850 | ) | — | ($79,766,850 | ) | (1,595,337 | ) | (100.0000 | %) | ||||||||||||||
JPM Mosaic I REIT, Inc. |
12/31/01 | $ | 79,766,850 | — | $ | 79,766,850 | 1,595,337 | 100.0000 | % | |||||||||||||||
JPM Mosaic I REIT, Inc. |
1/29/07 | ($79,766,850 | ) | — | ($79,766,850 | ) | (1,595,337 | ) | (100.0000 | %) | ||||||||||||||
XX Xxxxxx Securities, Inc. |
1/29/07 | $ | 79,766,850 | — | $ | 79,766,850 | 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 of | ||||||||||||||||||||||||
Contribution | Cash | Contributed | Total | Series E | ||||||||||||||||||||
Name of Partner | Date | Contributions | Property | Contributions | Partnership Units | Percentage Interest | ||||||||||||||||||
Limited Partner: |
||||||||||||||||||||||||
Fifth Third Equity Exchange Fund
1999, LLC |
8/31/99 | $ | 11,022,000 | — | $ | 11,022,000 | 220,440 | 100.0000 | % | |||||||||||||||
Fifth Third Equity Exchange Fund
1999, LLC |
6/30/06 | ($11,022,000 | ) | — | ($11,022,000 | ) | (220,440 | ) | (100.0000 | %) | ||||||||||||||
Total Series E Preferred Units |
0 | — | 0 | 0 | 000.0000 | % | ||||||||||||||||||
V. Series F Preferred Units
Agreed Value of | ||||||||||||||||||||||||
Contribution | Cash | Contributed | Total | Series F | ||||||||||||||||||||
Name of Partner | Date | Contributions | Property | Contributions | Partnership Units | Percentage Interest | ||||||||||||||||||
Limited Partner: |
||||||||||||||||||||||||
Bailard, Xxxxx & Xxxxxx
Technology Exchange Fund, LLC |
3/22/00 | $ | 19,871,950 | — | $ | 19,871,950 | 397,439 | 100.0000 | % | |||||||||||||||
Bailard, Xxxxx & Xxxxxx
Technology Exchange Fund, LLC |
7/31/02 | ($6,500,000 | ) | — | ($6,500,000 | ) | (130,000 | ) | (32.70942 | %) | ||||||||||||||
Bailard, Xxxxx & Xxxxxx
Technology Exchange Fund, LLC |
7/14/03 | ($3,300,000 | ) | — | ($3,300,000 | ) | (66,300 | ) | (16.60632 | %) | ||||||||||||||
Bailard Technology Exchange
Fund, LLC (formerly Bailard,
Xxxxx & Xxxxxx Technology
Exchange Fund, LLC) |
9/21/06 | ($10,071,950 | ) | — | ($10,071,950 | ) | (201,139 | ) | (50.60877 | %) | ||||||||||||||
Total Series F Preferred Units |
0 | — | 0 | 0 | 000.0000 | % | ||||||||||||||||||
VI. Series G Preferred Units
Agreed Value of | ||||||||||||||||||||||||
Contribution | Cash | Contributed | Total | Series G | ||||||||||||||||||||
Name of Partner | Date | Contributions | Property | Contributions | Partnership Units | Percentage Interest | ||||||||||||||||||
Limited Partner: |
||||||||||||||||||||||||
Bailard, Xxxxx & Xxxxxx
Technology Exchange Fund, LLC |
8/29/00 | $ | 1,000,000 | — | $ | 1,000,000 | 20,000 | 100.0000 | % | |||||||||||||||
Bailard, Xxxxx & Xxxxxx
Technology Exchange Fund, LLC |
7/31/02 | ($1,000,000 | ) | — | ($1,000,000 | ) | (20,000 | ) | (100.0000 | %) | ||||||||||||||
Total Series G Preferred Units |
0 | — | 0 | 0 | 000.0000 | % | ||||||||||||||||||
VII. Series H Preferred Units
Agreed Value of | ||||||||||||||||||||||||
Contribution | Cash | Contributed | Total | Series H | ||||||||||||||||||||
Name of Partner | Date | Contributions | Property | Contributions | Partnership Units | Percentage Interest | ||||||||||||||||||
Limited Partner: |
||||||||||||||||||||||||
X.X. Xxxxxx Mosaic Fund IV, LLC |
9/1/00 | $ | 42,000,000 | — | $ | 42,000,000 | 840,000 | 100.0000 | % | |||||||||||||||
X.X. Xxxxxx Mosaic Fund IV, LLC |
12/31/01 | ($42,000,000 | ) | — | ($42,000,000 | ) | (840,000 | ) | (100.0000 | %) | ||||||||||||||
JPM Mosaic IV REIT, Inc. |
12/31/01 | $ | 42,000,000 | — | $ | 42,000,000 | 840,000 | 100.0000 | % | |||||||||||||||
JPM Mosaic IV REIT, Inc. |
3/21/06 | ($42,000,000 | ) | — | ($42,000,000 | ) | (840,000 | ) | 100.0000 | % | ||||||||||||||
Total Series H Preferred Units |
0 | — | 0 | 0 | 000.0000 | % | ||||||||||||||||||
VIII. Series I Preferred Units
Agreed Value of | ||||||||||||||||||||||||
Contribution | Cash | Contributed | Total | Series I | ||||||||||||||||||||
Name of Partner | Date | Contributions | Property | Contributions | Partnership Units | Percentage Interest | ||||||||||||||||||
Limited Partner: |
||||||||||||||||||||||||
X.X. Xxxxxx Chase Mosaic Fund V,
LLC |
3/21/01 | $ | 25,500,000 | — | $ | 25,500,000 | 510,000 | 100.0000 | % | |||||||||||||||
X.X. Xxxxxx Xxxxx Mosaic Fund V,
LLC |
12/31/01 | ($25,500,000 | ) | — | ($25,500,000 | ) | (510,000 | ) | (100.0000 | %) | ||||||||||||||
JPM Mosaic V REIT, Inc. |
12/31/01 | $ | 25,500,000 | — | $ | 25,500,000 | 510,000 | 100.0000 | % | |||||||||||||||
JPM Mosaic V REIT, Inc. |
4/17/07 | ($25,500,000 | ) | — | ($25,500,000 | ) | (510,000 | ) | (100.0000 | %) | ||||||||||||||
Total Series I Preferred Units |
0 | — | 0 | 0 | 000.0000 | % | ||||||||||||||||||
IX. Series N Preferred Units
Agreed Value of | ||||||||||||||||||||||||
Contribution | Cash | Contributed | Total | Series N | ||||||||||||||||||||
Name of Partner | Date | Contributions | Property | Contributions | Partnership Units | Percentage Interest | ||||||||||||||||||
Limited Partner: |
||||||||||||||||||||||||
Xxxxxx Xxxxxxxx Properties, Inc. |
9/24/04 | — | $ | 36,479,100 | $ | 36,479,100 | 729,582 | 100.0000 | % | |||||||||||||||
Xxxxxx Xxxxxxxx Properties, Inc. |
1/27/06 | — | ($36,479,100 | ) | ($36,479,100 | ) | (729,582 | ) | 100.0000 | % | ||||||||||||||
Total Series N Preferred Units |
— | 0 | 0 | 0 | 000.0000 | % | ||||||||||||||||||
Total All Series of Preferred Units |
$ | 105,266,850 | 0 | $ | 105,266,850 | 2,105,337 | 100.0000 | % | ||||||||||||||||