REIT CONTRIBUTION AGREEMENT

Contribution Agreement

You are currently viewing:

This Contribution Agreement involves

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.

Title: REIT CONTRIBUTION AGREEMENT
Governing Law: California Date: 6/16/2006
Law Firm: Skadden Arps

QuickLinks -- Click here to rapidly navigate through this document

Exhibit 10.37

REIT CONTRIBUTION AGREEMENT

DATED AS OF JUNE 15, 2006

BY AND AMONG

DOUGLAS EMMETT, INC.,

DOUGLAS EMMETT PROPERTIES, LP,

DOUGLAS EMMETT REALTY ADVISORS,

ABERDEEN PROPERTIES, A CALIFORNIA LIMITED PARTNERSHIP,

CORAL REALTY, A CALIFORNIA LIMITED PARTNERSHIP,

EA REALTY, A CALIFORNIA LIMITED PARTNERSHIP,

NEW SEPTEMBER, LLC

AND

THE CONTRIBUTORS SIGNATORY HERETO

TABLE OF CONTENTS

		Page
ARTICLE I CONTRIBUTION
Section 1.01	CONTRIBUTION TRANSACTION; ASSIGNMENT AND ASSUMPTION	3
Section 1.02	CONSIDERATION	4
Section 1.03	FURTHER ACTION	5
Section 1.04	DISTRIBUTION OF PRE-CLOSING CASH FLOW	5
Section 1.05	CALCULATION OF REIT SHARE CONSIDERATION.	6
Section 1.06	TRANSACTION COSTS	6
Section 1.07	ALTERNATIVE DIVISION OF TOTAL FORMATION TRANSACTION VALUE	6
ARTICLE II CLOSING
Section 2.01	CONDITIONS PRECEDENT	7
Section 2.02	TIME AND PLACE	8
Section 2.03	DELIVERY OF REIT SHARES	8
Section 2.04	CLOSING DELIVERIES	8
Section 2.05	CLOSING COSTS	9
Section 2.06	TERM OF THE AGREEMENT	9
Section 2.07	EFFECT OF TERMINATION	9
Section 2.08	TAX WITHHOLDING	9
ARTICLE III REPRESENTATIONS, WARRANTIES AND INDEMNITIES OF THE REIT
Section 3.01	ORGANIZATION; AUTHORITY	9
Section 3.02	DUE AUTHORIZATION	10
Section 3.03	CONSENTS AND APPROVALS	10
Section 3.04	NO VIOLATION	10
Section 3.05	VALIDITY OF REIT SHARES	10
Section 3.06	LITIGATION	10
Section 3.07	ORGANIZATIONAL DOCUMENTS	10
Section 3.08	LIMITED ACTIVITIES	10
Section 3.09	NO OTHER REPRESENTATIONS OR WARRANTIES	10
Section 3.10	INDEMNIFICATION	10
ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE CONTRIBUTOR
Section 4.01	ORGANIZATION; AUTHORITY	12
Section 4.02	DUE AUTHORIZATION	12
Section 4.03	OWNERSHIP OF CONTRIBUTED INTEREST	12
Section 4.04	CONSENTS AND APPROVALS	13
Section 4.05	NO VIOLATION	13
Section 4.06	NON-FOREIGN PERSON	13
Section 4.07	SOLVENCY	13
Section 4.08	LITIGATION	13
Section 4.09	INVESTMENT	13
Section 4.10	NO OTHER REPRESENTATIONS OR WARRANTIES	14
Section 4.11	SURVIVAL OF REPRESENTATIONS AND WARRANTIES OF THE FUND	14

ARTICLE V COVENANTS AND OTHER AGREEMENTS
Section 5.01	COVENANTS OF THE CONTRIBUTORS	14
Section 5.02	COMMERCIALLY REASONABLE EFFORTS BY THE REIT AND THE CONTRIBUTOR	14
ARTICLE VI GENERAL PROVISIONS
Section 6.01	NOTICES	14
Section 6.02	DEFINITIONS	15
Section 6.03	COUNTERPARTS	16
Section 6.04	ENTIRE AGREEMENT; THIRD-PARTY BENEFICIARIES	17
Section 6.05	GOVERNING LAW	17
Section 6.06	ASSIGNMENT	17
Section 6.07	JURISDICTION	17
Section 6.08	DISPUTE RESOLUTION	17
Section 6.09	SEVERABILITY	18
Section 6.10	RULES OF CONSTRUCTION	18
Section 6.11	EQUITABLE REMEDIES	19
Section 6.12	TIME OF THE ESSENCE	19
Section 6.13	DESCRIPTIVE HEADINGS	19
Section 6.14	NO PERSONAL LIABILITY CONFERRED	19
Section 6.15	CONSENT OF GENERAL PARTNERS OR MANAGER	19
Section 6.16	WAIVER OF SECTION 1542 PROTECTIONS	19
Section 6.17	AMENDMENTS	19

DEFINED TERMS

TERM		SECTION
Accredited Investor		Section 6.02
Additional Contributions		Section 1.02
Adjusted Net Operating Income		Section 1.04
Affiliate		Section 6.02
Agreement		Introduction
Allocated Share		Section 1.02
Alternative Division		Section 1.07
Articles		Section 3.05
Business Day		Section 6.02
Capital Expense Allowance		Section 6.02
Claim		Section 3.10
Claim Notice		Section 3.10
Closing		Section 2.02
Closing Date		Section 2.02
Code		Section 6.02
Consent Form		Section 6.02
Contributed Interest		Section 6.02
Contributor		Introduction
Contributor Indemnified Party		Section 3.10
DE2005 REIT		Recitals
DECO		Recitals
DERA		Recitals
DERA/DECO Mergers		Recitals
DERA Funds		Recitals
DERF 2005		Recitals
DERF 2005 Investment Amount		Section 1.02
DERF 2005 Partnership Agreement		Section 1.02
Douglas Emmett Entities		Recitals
Dispute		Section 6.08
Elected REIT Share Percentage		Section 6.02
Expiration Date		Section 3.10
Formation Transaction Documentation		Recitals
Formation Transactions		Recitals
Fund Merger		Recitals
Fund Value		Section 1.02
Governmental Authority		Section 6.02
HBRCT		Section 1.02
Institutional Funds		Recitals
Investment Funds		Recitals
Losses		Section 3.10
IPO		Recitals
IPO Price		Section 6.02
Laws		Section 6.02
Liens		Section 6.02
Management Companies		Recitals
Material Adverse Effect		Section 6.02
Maximum Cash Percentage		Section 6.02

iii

Non-Performing Contributor		Section 1.01
OP Units		Recitals
Operating Partnership		Introduction
Organizational Agreements		Section 1.01
Outside Date		Section 2.06
Percentage Allocated Share		Section 1.02
Person		Section 6.02
Pre-Formation Interest		Recitals
Pre-Formation Participants		Recitals
Principals		Section 6.02
Properties		Section 6.02
Prospectus		Section 6.02
REIT		Introduction
REIT Common Stock		Recitals
REIT Share Consideration		Section 1.02
REIT Shares		Recitals
REIT Subsidiary		Section 3.01
Representation, Warranty and Indemnity Agreement		Section 6.02
Securities Act		Section 6.02
Single Asset Entities		Recitals
Special Investment Amount		Section 1.02
Subsidiary		Section 6.02
Tax		Section 6.02
Third Party Claims		Section 3.10
Total Formation Transaction Value		Section 1.02
Valid Election		Section 6.02