AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF LC/N HORSHAM LIMITED PARTNERSHIP A Pennsylvania Limited Partnership September 1, 1999
Exhibit 3.71
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AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP
OF
LC/N HORSHAM LIMITED PARTNERSHIP
A Pennsylvania Limited Partnership
September 1, 1999
________________________________________
THIS AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (this “Agreement”) of LC/N Horsham Limited Partnership, a Pennsylvania limited partnership (the “Partnership”) is dated as of this 1st day of September, 1999, by and among Xxxxxx Operating Partnership I, L.P., a Delaware limited partnership, as the general partner (“WOP” or the “General Partner”), and WOP and Brandywine Operating Partnership, L.P., a Delaware limited partnership (“BOP”), as limited partners (together, the “Limited Partners”). The General Partner and the Limited Partners are hereinafter sometimes referred to collectively as the “Partners” and individually as a “Partner”.
The Partnership was formed pursuant to a Certificate of Limited Partnership (the “Certificate”), which was filed in the office of the Pennsylvania Department of State on November 25, 1986. This Agreement is amending and restating the amended and restated Agreement of Limited Partnership of LC/N Horsham Limited Partnership dated as of August 22, 1996 (the “Prior Agreement”) between WOP, BOP and The Xxxxxxx Company, a limited partner (“TNC”). On the date hereof, TNC has assigned and transferred all of its right, title and interest in and to the Partnership to WOP and is withdrawing from the Partnership.
ARTICLE 1 GENERAL PROVISIONS |
1.1. Continuation, Partners and Name. |
(a) The Partners hereby elect to continue the business of the Partnership as a limited partnership pursuant to the provisions of the Revised Uniform Limited Partnership Act as in effect in the Commonwealth of Pennsylvania on the date hereof, as the same may be amended from time to time (the “Act”). The partners shall consist of WOP as the sole General Partner and as a new limited partner, and BOP continues as a limited partner. |
(b) By executing this Agreement, each Partner hereby agrees that the Partnership shall be governed by the Act. Upon or promptly after the execution of this Agreement, the General Partner may, if it deems it necessary, execute and cause to be filed an amended and restated Certificate of Limited Partnership and such other applications, elections, certificates and documents as may be required for the continuation of a limited partnership under the Act, or as may be necessary to permit the Partnership to engage in the activities contemplated by Section 1.4 hereof. |
1.2. Name. The name of the Partnership is LC/N HORSHAM LIMITED PARTNERSHIP, or such other name as the General Partner from time to time may select. |
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1.4. Purpose. The Partnership is organized to pursue any lawful purpose. |
1.5. Term. The term of the Partnership has commenced and shall continue until December 31, 2094, unless earlier dissolved pursuant to the terms of Section 6.1 hereof or by operation of law. |
ARTICLE 2 CAPITAL MATTERS |
ARTICLE 3 MANAGEMENT |
ARTICLE 4 TRANSFERS OF PARTNER INTERESTS |
4.1. Restriction. A Partner shall not, without the consent of the other Partner, make any Transfer of all or any portion of its Interest. |
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ARTICLE 5 FINANCIAL MATTERS |
5.2. Fiscal Year. Unless otherwise designated by the General Partner, the fiscal year of the Partnership shall end on December 31. |
ARTICLE 6 DISSOLUTION |
6.1. Dissolution. The Partnership shall be dissolved upon the earliest to occur of the following: |
(a) December 31, 2094; |
(b) the withdrawal, bankruptcy or liquidation of the General Partner or the occurrence of any other event of withdrawal that causes the General Partner to cease to be a general partner under the Act (other than by reason of a permitted transfer of a Partner’s entire interest under this Agreement); |
(c) the sale of all or substantially all of the Partnership’s assets and properties; |
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(d) the unanimous agreement of the Partners to effect such dissolution; or |
(e) the entry of an order of judicial dissolution under Section 8572 of the Act. |
(a) First, to payment of the debts and liabilities of the Partnership (other than those to Partners) in the order of priority provided by law, provided that the Partnership shall first pay, to the extent permitted by law, liabilities with respect to which any Partner is or may be personally liable. |
(b) Second, to payment of the expenses of liquidation of the Partnership in the order of priority provided by law, provided that the Partnership shall first pay, to the extent permitted by law, liabilities or debts owed to Partners. |
(c) Third, to the setting up of such reserves as the General Partner may deem reasonably necessary for any contingent or unforeseen liabilities or obligations of the Partnership arising out of or in connection with the Partnership business. |
(d) The balance of the proceeds, in accordance with the Percentage Interests of the Partners. |
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ARTICLE 7 DEFINITIONS AND RULES OF CONSTRUCTION |
7.1. Definitions. |
7.1.1. The following terms, as used herein, shall have the following respective meanings: |
“Act” means the Pennsylvania Revised Uniform Limited Partnership Act, 15 P.S. §8500 et. seq. as amended from time to time. |
“Agreement” means this Agreement of Limited Partnership, as amended or restated from time to time. |
“Certificate” means the Certificate of Limited Partnership, as amended or restated from time to time, filed with the Pennsylvania Department of State in accordance with the Act. |
“Code” means the Internal Revenue Code of 1986, as amended or any successor statute thereto. |
“Fiscal Year” means the twelve month period ending December 31 of each year, unless otherwise provided pursuant to Section 5.2 of this Agreement. |
“Interest” means the interest of a Partner in the Partnership representing such Partner’s rights, powers and privileges, as specified in this Agreement, including, without limitation, such Partner’s right to profits, losses, allocations and distributions and such Partner’s right to vote with respect to Partnership matters, and “Percentage Interest” means a Partner’s Interest expressed as a percentage of all Interests. |
“Partners” means the General Partner and Limited Partners. |
“Partnership” means the limited partnership which is the subject of this Agreement, as such limited partnership may from time to time be constituted. |
“Person” means and includes individuals, corporations, partnerships, trusts, associations, joint ventures, limited liability companies, estates and other entities, whether or not legal entities, and governments and agencies and political subdivisions thereof, whether domestic or foreign. |
“Tax Matters Partner” means the tax matters member as defined in Code Section 6231(a)(7). |
“Transfer” means to sell, assign, transfer, give, donate, pledge, deposit, alienate, bequeath, devise or otherwise dispose of or encumber to any Person other than the Partnership. |
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ARTICLE 8 MISCELLANEOUS |
8.1. Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the Commonwealth of Pennsylvania without regard to the conflict of laws provisions of said jurisdiction. |
8.4. Headings. The descriptive headings herein are inserted for convenience only and do not constitute part of this Agreement. |
8.6. Non-Recourse. No recourse shall be had for any obligation of Brandywine Realty Trust against any past, present or future trustee, shareholder, officer or employee thereof. |
8.7. Amendment. This Agreement may not be amended except by unanimous written agreement of all of the Partners. |
General Partner: | ||
XXXXXX OPERATING PARTNERSHIP I, L.P. |
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By: | BRANDYWINE XXXXXX, L.L.C. | |
Its General Partner | ||
/s/ Xxxxxx X. Xxxxxxx | ||
President and Chief Executive Officer | ||
Limited Partners: | ||
BRANDYWINE OPERATING PARTNERSHIP, L.P. | ||
By: | BRANDYWINE REALTY TRUST, | |
Its General Partner | ||
/s/ Xxxxxx X. Xxxxxxx | ||
President and Chief Executive Officer | ||
(signature page continued) |
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XXXXXX OPERATING PARTNERSHIP I, L.P. | ||
By: | BRANDYWINE XXXXXX, L.L.C. | |
Its General Partner | ||
/s/ Xxxxxx X. Xxxxxxx | ||
President and Chief Executive Officer |
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