P.L.E. OP CONTRIBUTION AGREEMENTContribution Agreement |
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P.L.E. OP CONTRIBUTION AGREEMENT
DATED AS OF JUNE 15, 2006
BY AND AMONG
DOUGLAS EMMETT PROPERTIES, LP,
DOUGLAS EMMETT REALTY ADVISORS
AND
THE SHAREHOLDERS OF P.L.E. BUILDERS, INC.
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ARTICLE I CONTRIBUTION |
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2 |
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Section 1.01 |
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CONTRIBUTION TRANSACTION |
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2 |
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Section 1.02 |
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CONSIDERATION |
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2 |
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Section 1.03 |
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FURTHER ACTION |
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3 |
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Section 1.04 |
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CALCULATION OF PLE CONSIDERATION |
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3 |
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Section 1.05 |
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TRANSACTION COSTS |
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4 |
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Section 1.06 |
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PRE-CLOSING DISTRIBUTIONS |
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4 |
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Section 2.01 |
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CONDITIONS PRECEDENT |
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6 |
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Section 2.02 |
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TIME AND PLACE |
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6 |
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Section 2.03 |
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DELIVERY OF OP UNITS |
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6 |
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Section 2.04 |
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CLOSING DELIVERIES |
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6 |
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Section 2.05 |
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CLOSING COSTS |
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6 |
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Section 2.06 |
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TERM OF THE AGREEMENT |
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6 |
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Section 2.07 |
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EFFECT OF TERMINATION |
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6 |
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Section 2.08 |
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TAX WITHHOLDING |
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6 |
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Section 3.01 |
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ORGANIZATION; AUTHORITY |
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7 |
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Section 3.02 |
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DUE AUTHORIZATION |
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7 |
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Section 3.03 |
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CONSENTS AND APPROVALS |
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7 |
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Section 3.04 |
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NO VIOLATION |
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7 |
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Section 3.05 |
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VALIDITY OF OP UNITS |
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8 |
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Section 3.06 |
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LITIGATION |
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8 |
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Section 3.07 |
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OP AGREEMENT |
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8 |
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Section 3.08 |
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LIMITED ACTIVITIES |
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8 |
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Section 3.09 |
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NO OTHER REPRESENTATIONS OR WARRANTIES |
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8 |
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Section 3.10 |
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INDEMNIFICATION |
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8 |
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Section 4.01 |
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AUTHORITY |
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10 |
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Section 4.02 |
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OWNERSHIP OF PLE SHARES |
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10 |
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Section 4.03 |
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CONSENTS AND APPROVALS |
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10 |
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Section 4.04 |
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NO VIOLATION |
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10 |
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Section 4.05 |
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NON-FOREIGN PERSON |
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10 |
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Section 4.06 |
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TAXES |
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10 |
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Section 4.07 |
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SOLVENCY |
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11 |
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Section 4.08 |
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LITIGATION |
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11 |
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Section 4.09 |
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INVESTMENT |
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11 |
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Section 4.10 |
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NO OTHER REPRESENTATIONS OR WARRANTIES |
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11 |
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Section 4.11 |
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SURVIVAL OF REPRESENTATIONS AND WARRANTIES OF THE FUND |
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12 |
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Section 5.01 |
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COVENANTS OF THE CONTRIBUTORS |
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12 |
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Section 5.02 |
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COMMERCIALLY REASONABLE EFFORTS BY THE OPERATING PARTNERSHIP AND THE CONTRIBUTORS |
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12 |
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Section 5.03 |
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TAX AGREEMENT |
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12 |
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Section 6.01 |
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GRANT OF POWER OF ATTORNEY |
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12 |
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Section 6.02 |
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LIMITATION ON LIABILITY |
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13 |
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Section 6.03 |
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RATIFICATION; THIRD PARTY RELIANCE |
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13 |
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Section 7.01 |
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NOTICES |
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13 |
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Section 7.02 |
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DEFINITIONS |
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14 |
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Section 7.03 |
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COUNTERPARTS |
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15 |
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Section 7.04 |
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ENTIRE AGREEMENT; THIRD-PARTY BENEFICIARIES |
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15 |
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Section 7.05 |
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GOVERNING LAW |
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15 |
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Section 7.06 |
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ASSIGNMENT |
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15 |
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Section 7.07 |
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JURISDICTION |
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15 |
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Section 7.08 |
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DISPUTE RESOLUTION |
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16 |
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Section 7.09 |
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SEVERABILITY |
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16 |
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Section 7.10 |
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RULES OF CONSTRUCTION |
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17 |
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Section 7.11 |
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EQUITABLE REMEDIES |
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17 |
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Section 7.12 |
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TIME OF THE ESSENCE |
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17 |
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Section 7.13 |
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DESCRIPTIVE HEADINGS |
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17 |
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Section 7.14 |
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NO PERSONAL LIABILITY CONFERRED |
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17 |
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Section 7.15 |
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WAIVER OF SECTION 1542 PROTECTIONS |
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17 |
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Section 7.16 |
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AMENDMENTS |
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18 |
ii
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TERM |
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SECTION |
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Additional Contributions |
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Section 1.02 |
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Affiliate |
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Section 7.02 |
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Agreement |
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Introduction |
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Applicable Percentage |
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Section 1.02 |
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Attorney-in-Fact |
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Section 6.01 |
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Business Day |
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Section 7.02 |
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Claim |
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Section 3.10 |
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Claim Notice |
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Section 3.10 |
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Closing |
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Section 2.02 |
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Closing Date |
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Section 2.02 |
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Code |
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Section 7.02 |
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Consent Form |
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Section 7.02 |
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Contribution |
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Recitals |
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Contributor |
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Introduction |
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Contributor Indemnified Party |
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Section 3.10 |
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Contributors |
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Introduction |
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DE2005 REIT |
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Recitals |
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DECO |
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Recitals |
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DERA |
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Introduction |
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DERA Funds |
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Recitals |
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DERF 2005 |
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Recitals |
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DERF 2005 Partnership Agreement |
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Section 1.02 |
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Dispute |
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Section 7.08 |
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Douglas Emmett Entities |
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Recitals |
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Excluded Assets and Liabilities |
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Section 1.06 |
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Expiration Date |
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Section 3.10 |
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Formation Transaction Documentation |
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Recitals |
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Formation Transactions |
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Recitals |
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Governmental Authority |
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Section 7.02 |
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HBRCT |
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Section 1.02 |
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Included Current Liabilities |
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Section 1.06 |
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Investment Funds |
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Recitals |
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IPO |
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Recitals |
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IPO Closing Date |
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Section 7.02 |
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IPO Price |
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Section 7.02 |
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Laws |
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