Exhibit 3.4
FIRST AMENDEDMENT TO THE SECOND
AMENDED
AND RESTATED AGREEMENT OF GENERAL PARTNERSHIP
OF
UNIVERSAL CITY FLORIDA HOLDING CO. II
This FIRST AMENDMENT TO THE SECOND
AMENDED AND RESTATED AGREEMENT OF GENERAL PARTNERSHIP OF UNIVERSAL
CITY FLORIDA HOLDING CO. II (this “ Amendment ”)
is made and entered into as of December 9, 2004, by and between
BLACKSTONE UTP CAPITAL LLC, a Delaware limited liability company
(“ Blackstone UTP ”), BLACKSTONE UTP CAPITAL A
LLC, a Delaware limited liability company (“ Blackstone
UTP A ”), BLACKSTONE UTP OFFSHORE CAPITAL LLC, a Delaware
limited liability company (“ Blackstone Offshore
”), and BLACKSTONE FAMILY MEDIA LLC, a Delaware limited
liability company (“ Blackstone Family ” and,
together with Blackstone Offshore, Blackstone UTP A, Blackstone
UTP, collectively, the “ Blackstone Entities ”
and individually, each a “ Blackstone Entity ”)
and UNIVERSAL CITY PROPERTY MANAGEMENT II LLC, a Delaware limited
liability company, (“ UniCo ”), an indirect
majority owned subsidiary of Universal Studios, Inc., a Delaware
corporation (“ Universal Parent ”).
WHEREAS, UniCo is the
successor-in-interest to Universal City Property Management
Company; and
WHEREAS, the Blackstone Entities and
UniCo desire to amend the Second Amended and Restated Agreement of
General Partnership of Universal City Florida Holding Co. I (the
“ Partnership Agreement ”); and
WHEREAS, as of the date hereof, (i)
Blackstone UTP Capital Partners L.P., a Delaware limited
partnership (“ Blackstone Capital Partners ”)
will contribute its interests in the Partnership to Blackstone UTP,
(ii) Blackstone UTP Capital Partners A L.P., a Delaware limited
partnership (“ Blackstone Capital Partners A ”)
will contribute its interests in the Partnership to Blackstone UTP
A, (iii) Blackstone UTP Offshore Capital Partners L.P., a Cayman
Islands exempted limited partnership (“ Blackstone
Offshore Partners ”) will contribute its interests in the
Partnership to Blackstone Offshore, and (iv) Blackstone Family
Media Partnership III L.P., a Delaware limited partnership (“
Blackstone Family Partners ” and, together with
Blackstone Offshore Partners, Blackstone Capital Partners A and
Blackstone Capital Partners, collectively, the “ Original
Blackstone Entities ”) will contribute its interests in
the Partnership to Blackstone Family (collectively, the “
Contributions ”); and
WHEREAS, the Contributions shall be
structured to be disregarded for U.S. federal income tax purposes,
and the Blackstone Entities shall be disregarded entities for U.S.
federal income tax purposes (as well as for any analogous state or
local tax purposes).
NOW, THEREFORE, it is agreed by and
between the parties hereto as follows:
1. Words and phrases which are introduced by
initial capitals and which are not otherwise defined in this
Amendment shall have the same meaning as in the Partnership
Agreement.
2. The Partnership Agreement shall be amended such
that each reference to “Blackstone Partners” in the
Partnership Agreement shall be deleted and be replaced by the
phrase “Blackstone Entities.”
3. Section 6 of the Partnership Agreement shall be
deleted in its entirety and amended to read as follows:
6.
References
. To the extent appropriate
for U.S. federal income tax purposes (as well as for analogous
state or local tax purposes), references in this Agreement to a
person that is disregarded as an entity separate from its owner for
such tax purposes shall be deemed to refer to such
owner.
4. Section 7 of the Partnership Agreement shall be
deleted in its entirety and amended to read as follows:
7.
Loan Arrangements
. Pursuant to (a) the Amended
and Restated Credit Agreement, dated as of November 5, 1999, as
amended as of July 25, 2000, December 19, 2001, March 28, 2002,
March 28, 2003 and as of December 9, 2004 (the “Term Credit
Agreement”) and (b) the Credit Agreement, dated as of March
28, 2003, as amended as of December 9, 2004 (the “Revolving
Credit Agreement” and together with the Term Credit
Agreement, the “Credit Agreement”), each among
Universal City Development Partners, Ltd. (“UCDP”), the
banks listed therein and JPMorgan Chase Bank, as administrative
agent and collateral agent, the Partnership as general partner of
UCDP, as debtor, is subject to certain obligations and
restrictions. If the Partnership causes UCDP to enter into
loan arrangements which are different than the Credit Agreement,
the Partners agree to act reasonably to modify those provisions of
this Agreement which were drafted to reflect the Credit Agreement
so as to reflect such loan arrangements.
5. Section 11 of the Partnership Agreement shall be
amended to (a) delete the reference to “Blackstone UTP
A” and replace it with a reference to “Blackstone
Capital Partners A,” (b) delete the reference to
“Blackstone UTP” and replace it with a reference to
“Blackstone Capital Partners” and (c) delete the second
and third sentences in their entirety and insert the following
sentences in their place