Exhibit 3.16
AMENDED AND
RESTATED
AGREEMENT OF LIMITED
PARTNERSHIP
OF
RUTH’S CHRIS STEAK HOUSE
TEXAS, L.P.
TABLE OF CONTENTS
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Page
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ARTICLE 1
DEFINITIONS
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1
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1.1
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Defined
Terms
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1
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1.2
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Construction
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3
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ARTICLE 2
ORGANIZATION
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3
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2.1
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Formation
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3
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2.2
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Name
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3
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2.3
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Registered
Agent and Registered Office
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3
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2.4
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Registered
Office of the Partnership
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3
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2.5
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Location of
Principal Place of Business
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3
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2.6
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Business and
Purpose
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3
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2.7
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Term
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4
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2.8
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Filing of
Certificates
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4
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2.9
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Additional
Limited Partners
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4
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2.10
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Organization
Certificates
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4
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2.11
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Power of
Attorney
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4
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ARTICLE 3
CAPITALIZATION AND ADDITIONAL FINANCING
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5
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3.1
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Partnership
Capital
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5
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3.2
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Capital
Accounts
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5
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3.2
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Partnership
Borrowing
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5
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ARTICLE 4
ALLOCATIONS
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5
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4.1
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Profits and
Losses
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5
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4.2
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Allocations
for Shifting Interests
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5
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ARTICLE 5
DISTRIBUTIONS
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6
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5.1
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Distributions in the General Partner’s
Discretion
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6
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5.2
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Offset
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6
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ARTICLE 6
RIGHTS AND DUTIES OF THE GENERAL PARTNER
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6
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6.1
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Management
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6
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6.2
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Reliance by
Public
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7
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ARTICLE 7
RIGHTS AND OBLIGATIONS OF LIMITED PARTNERS
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8
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7.1
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Limitation
of Liability
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8
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7.2
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Management
of Business
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8
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7.3
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No
Dissolution Caused
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8
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7.4
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Holders of
Record
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8
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7.5
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Indemnification and Terms of
Admission
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9
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ARTICLE 8
TRANSFER OF INTERESTS
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9
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8.1
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Restriction
on Transfers
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9
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8.2
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Permitted
Transfers
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9
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ARTICLE 9
GENERAL INDEMNIFICATION AND INSURANCE
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9
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9.1
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Indemnification
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9
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9.2
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Insurance
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10
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ARTICLE 10
FISCAL YEAR; BOOKS OF ACCOUNT; BANK ACCOUNTS; AND
REPORTS
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10
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10.1
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Books and
Records.
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10
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10.2
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The
Partnership shall adopt the calendar year as its Fiscal
Year
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10
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10.3
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Tax
Matter’s Partner
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10
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10.4
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Tax
Reporting Information
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10
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i
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ARTICLE 11
DISSOLUTION, WINDING UP AND TERMINATION;
CONTINUATION
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11
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11.1
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Events of
Dissolution
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11
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11.2
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Liquidation
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11
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11.3
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Distributions in Kind
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12
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11.4
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Return of
Contributions
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12
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ARTICLE 12
AMENDMENT OF PARTNERSHIP AGREEMENT; MEETINGS
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12
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12.1
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Amendments
to be Adopted Solely by General Partner
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12
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12.2
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Consent of
General Partner Required
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13
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12.3
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Action
Without a Meeting
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13
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ARTICLE 13
MISCELLANEOUS PROVISIONS
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13
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13.1
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Notices
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13
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13.2
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Execution in
Counterparts
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13
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13.3
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Waiver of
Partition
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14
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13.4
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Governing
Law, Successors
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14
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13.5
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Integrated
Agreement
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14
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13.6
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No
Waiver
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14
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13.7
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Legends
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14
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13.8
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No Third
Party Beneficiaries
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14
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13.9
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Severability
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14
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EXHIBITS
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Exhibit A Partner
Names, Addresses, and Initial Capital Contributions
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Exhibit B Partner
Percentage Interests
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ii
AGREEMENT OF LIMITED
PARTNERSHIP
OF
RUTH’S CHRIS STEAK HOUSE
TEXAS, LP
This AGREEMENT OF LIMITED
PARTNERSHIP (this “ Agreement ”) of
Ruth’s Chris Steak House Texas, LP , a Texas limited
partnership (the “ Partnership ”), is made and
entered into as of March 31, 2004 (the “ Effective
Date ”), by and among the Partners, (defined
below).
R E C I T A L S
WHEREAS, the Partnership was formed
on September 1, 2000 between its sole General Partner,
Ruth’s Chris Steak House, Inc. (f/k/a Ruth U. Fertel, Inc.),
a Louisiana corporation (“ RCSH ”) and its sole
Limited Partner, RCSH Holdings, Inc., a Louisiana corporation
(“ Holdings ”), by the filing of a Certificate
of Limited Partnership with the Texas Secretary of
State;
WHEREAS, on December 31, 2000,
pursuant to Texas Business Corporation Act Sections 1.02 and 5.01
et. Seq. and the Texas Revised Limited Partnership Act
Section 2.11, the Partnership consummated a merger with
Ruth’s Chris Steak House #4, Inc. (“ #4
”), a Texas corporation (the “ Merger ”),
wherein 99% limited partnerships interests in the Partnership were
issued to Holdings and the 1% general partner interest in exchange
for all of the property belonging to #4, including sole
ownership of the restaurant operations located in Houston and Sugar
Land, Texas; agreement to said Merger having been duly filed in the
Corporations Section of the Texas Secretary of State on
December 28, 2000;
WHEREAS, no person or entity other
than RCSH and RCSH Holdings has ever been a partner of LP, and the
current ownership of the Partnership is comprised of its sole
General Partner, RCSH, owning a 1% General Partnership Interest,
and its sole Limited Partner, RCSH Holdings, Inc., a Louisiana
corporation owning a 99% Limited Partnership Interest;
WHEREAS, the Partners of the
Partnership desire to amend and restate the terms of their limited
partnership agreement in its entirety;
NOW, THEREFORE, for and in
consideration of the premises, the mutual covenants contained
herein, the mutual contributions of the Partners, and for other
good and valuable consideration, the Partners agree as
follows:
ARTICLE 1
DEFINITIONS
1.1 Defined Terms . As used
in this Agreement, the following terms shall have the meanings set
forth below:
“ Business Day ”
means a day of the week, other than Saturday or Sunday, on which
federally chartered banks in New Orleans, Louisiana are required by
law to be open for business.
“ Capital Account
” is defined in Section 3.2.
“ Capital Contribution
” means the total amount of cash or the agreed value of
property actually contributed to the Partnership by all of the
Partners or any class of Partners or any one Partner, as the
context requires.
“ Code ” means
the Internal Revenue Code of 1986, or any successor statute
thereto, as amended and in effect from time to time and as
interpreted by the Regulations.
“ Fiscal Year ”
means (i) a calendar year 2004 (ii) any subsequent twelve
(12) month period commencing on January 1 and ending on
December 31, or (iii) any portion of the period described
in clause (ii) for which the Partnership is required to
allocate Profits, Losses and other items of Partnership income,
gain, loss or deduction pursuant to Article 4
hereof.
“ General Partner
” means the Louisiana corporation identified as the
“General Partner” on Exhibit A , which is the
sole general partner of the Partnership. The term “General
Partner” also includes any other Person that is duly admitted
to the Partnership as an additional or substitute general partner
in accordance with this Agreement and the Texas Act.
“ Interest ”
means the ownership interest of a Partner in the Partnership at any
particular time and includes, without limitation, the right of such
Partner to any and all rights and benefits to which a Partner, or
an assignee of a Partner, is entitled pursuant to the terms of this
Agreement or by law. The Interest of the General Partner in the
Partnership (in its capacity as a general partner) shall be deemed
a separate Interest from any Limited Partner Interest owned by the
General Partner in the Partnership.
“ Limited Partner
” means the entity identified as the “Limited
Partner” on Exhibit A , and any Person who is admitted
to the Partnership as a limited partner pursuant to the terms of
this Agreement.
“ Liquidator ”
shall have the meaning set forth in
Section 12.2.
“ Partner ”
refers to both the General Partner and the Limited Partner unless
otherwise indicated.
“ Partnership ”
is defined in the preamble paragraph of this Agreement.
“ Partnership Property
” means all interests, properties and rights of any type,
whether real, personal, tangible or intangible, owned by the
Partnership.
“ Percentage Interest
” means the Interest of each Partner expressed as a
percentage of all Interests. The initial Percentage Interests are
as set forth on Exhibit B hereto.
“ Person ” shall
mean any individual, partnership, corporation, limited liability
Partnership, trust or other entity.
2
“ Regulations ”
means the Treasury Regulations, including Temporary Regulations,
promulgated under the Code, as such Regulations may be amended from
time to time, including the corresponding provisions of succeeding
Regulations.
“ Texas Act ”
shall mean the Texas Revised Limited Partnership Act; TEX. REV.
STAT. ANN. art 6132a-l, as from time to time amended.
1.2 Construction . The
headings in this Agreement are inserted for convenience of
reference only and shall not affect interpretation of this
Agreement. Whenever from the context it appears appropriate, each
term stated in either the singular or the plural shall include the
singular and the plural, and pronouns stated in the masculine or
the neuter gender shall include the masculine, the feminine and the
neuter. The terms “hereof,” “herein” or
“hereunder” shall refer to this Agreement as a whole
and not to any particular article, section or paragraph. The terms
“include” or “including” means includes,
without limitation, and the term “including” means
including, without limitation. Any reference to an agreement or
contract includes any amendment or modification to such agreement
or contract made after the date hereof.
ARTICLE 2
ORGANIZATION
2.1 Formation . For and in
consideration of the agreements contained herein, the parties
formed a limited partnership under the Texas Act by an agreement
dated as of September 1, 2000 (“ Partnership
Agreement ”). The Partners hereby amend and restate the
Partnership Agreement in its entirety, and agree to look solely to
this Agreement for the rights and obligatioans of the Partners
under the Partnership. The rights, duties and liabilities of the
Partners shall be as provided in the Texas Act, except as otherwise
provided herein.
2.2 Name . The name of the
Partnership shall be “ Ruth’s Chris Steak House
Texas, L.P. ” The General Partner shall promptly advise
the other Partners in writing of any change in the name of the
Partnership.
2.3 Registered Agent and
Registered Office . The registered agent of the Partnership in
the State of Texas shall be CT Corporation System.
2.4 Registered Office . The
registered office of the Partnership shall be located at, 1021 Main
Street, Suite 1150, Houston Texas 77002. The General Partner may
from time to time change the registered agent or registered office
of the Partnership, or both. The General Partner shall promptly
notify all other Partners of any change in the registered office or
registered agent of the Partnership.
2.5 Location of Principal Place
of Business . The principal place of business of the
Partnership shall be at such place as the General Partner may from
time to time designate in writing to the other Partners. The
Partnership may maintain such offices at such places as the General
Partner deems advisable.
2.6 Business and Purpose .
The business and purpose of the Partnership shall be for any lawful
purpose, business, or business ventures, as determined by the
General Partner, that are otherwise lawful under the Texas Act and
consistent with the remaining terms of this Agreement.
3
2.7 Term . The term of the
Partnership began on the date its Certificate of Limited
Partnership (“ Certificate ”) was filed in the
office of the Secretary of State of Texas and shall remain in
existence until December 31, 2050, unless earlier terminated
with the General Partner’s consent.
2.8 Filing of Certificates .
The General Partner shall execute, file and publish all such
certificates, notices, statements or other instruments required by
law for the formation or operation of a limited partnership in all
jurisdictions where the Partnership may propose to do business. The
General Partner may amend the Certificate from time to time for any
proper purpose consistent with the terms of this
Agreement.
2.9 Additional Limited
Partners . Additional Persons shall become Limited Partners
only if: (a) the identity of such Limited Partner and the
terms of its admission to the Partnership are approved by a
Majority in Interest and the General Partner, (b) such Limited
Partner makes a Capital Contribution in a cash amount approved by
the Partners pursuant to clause (a) hereof, (c) such
Limited Partner executes and delivers to the General Partner a
counterpart of this Agreement and thereby become subject to all of
the terms and conditions hereof, (d) such Limited Partner
executes and delivers to the General Partner (either individually
or by virtue of the General Partner’s power of attorney
granted hereunder) all certificates, instruments and documents, and
taken all such action, as the General Partner may deem appropriate
to preserve the limited liability status of the Partnership after
the admission, and (e) such Limited Partner complies with
applicable securities laws and preserves the federal partnership
tax status of the Partnership.
2.10 Organization
Certificates . Upon the request of the General Partner, each
Limited Partner shall execute and deliver from time to time all
certificates and other documents deemed necessary by the General
Partner to accomplish all filing, recording, publishing, and other
acts appropriate to comply with all requirements (a) for the
formation and operation of a limited partnership under the Texas
Act, and (b) for the formation, qualification, and operation
of a limited partnership, or a partnership in which the limited
partners have limited liability, in all other jurisdictions where
the Partnership shall propose to conduct business.
2.11 Power of Attorney . Each
Limited Partner hereby irrevocably designates and appoints the
General Partner and, if a Liquidator is appointed, the Liquidator,
severally, and its successors and assigns, each with full power of
substitution, such Limited Partner’s agent and
attorney-in-fact in his name, place and stead necessary to enable
the Partnership to qualify to do business under the laws of any
jurisdiction and to make such further governmental filings as are
required from time to time. The power of attorney granted herein is
hereby declared irrevocable and a power coupled with an interest,
shall survive the death, disability or bankruptcy of a Limited
Partner, if an individual, or the bankruptcy, dissolution or other
termination of a Limited Partner, if a corporation, trust,
partnership or unincorporated association, and shall extend to and
be binding upon such Limited Partner’s legal representatives,
heirs, successors, and assigns.
4
ARTICLE 3
CAPITALIZATION AND ADDITIONAL
FINANCING
3.1 Partnership Capital
.
(a) No interest shall be paid by the
Partnership on any Capital Contributions to the Partnership or on
Capital Account balances.
(b) No Partner shall have the right
to withdraw any part of such Partner’s Capital Contribution
to the Partnership or such Partner’s Capital Account, or to
receive any return of any portion of such Partner’s Capital
Contribution or Capital Account, except as may be specifically
provided in this Agreement.
(c) Under circumstances involving a
return of any Capital Contribution, no Partner shall have the right
to receive property other than cash, except as may be specifically
provided in this Agreement.
(d) Loans from a Partner to the
Partnership shall not be considered Capital
Contributions.
3.2 Capital Accounts . Each
Partner and each Assignee shall have a capital account (each, a
“ Capital Account ”) computed in accordance with
the Code and the Regulations.
3.3 Partnership Borrowing .
The General Partner may cause the Partnership to borrow money from
time to time, from third parties or from a Partner, and may
mortgage or pledge Partnership property to obtain and secure the
repayment of such loans. The proceeds of Partnership loans may be
used for any Partnership purpose, including the payment of the
costs of operations or the refinancing of Partnership indebtedness.
The Partnership may borrow from third parties or a Partner,
including the General Partner. A Partner is not, however, obligated
to lend funds to the Partnership.
ARTICLE 4
ALLOCATIONS
4.1 Profits and Losses .
After giving effect to the special allocations set forth in
Section 4.2 hereof, profits and losses for any Fiscal
Year shall be allocated to the Partners in accordance with their
Percentage Interests. The losses allocated pursuant this
Section 4.1 hereof shall not exceed the maximum amount
of losses that can be so allocated without causing any Limited
Partner to have a Capital Account deficit at the end of any Fiscal
Year.
4.2 Allocations for Shifting
Interests . Except as otherwise provided herein, all items of
income, gain, loss, deduction, and credit allocable to any Partner
that may have been transferred shall be allocated between the
transferor and the transferee based on the portion of the Fiscal
Year during which each was recognized as owning that
Partner’s Interest, without regard to the results of
Partnership operations during any particular portion of that Fiscal
Year and without regard to whether cash distributions were made to
the transferor or the transferee during that Fiscal Year;
provided, however, that this allocation must be made in
accordance with a method permissible under Section 706 of the
Code and the Regulations thereunder.
5
ARTICLE 5
DISTRIBUTIONS
5.1 Distributions in the General
Partner’s Discretion . From time to time the General
Partner may, in its discretion, distribute cash to the Partners pro
rata in accordance with their respective Percentage Interests in
the Partnership with the distribution to each Partner being the
product of the aggregate cash distribution being made multiplied by
such Partner’s Percentage Interest. Each such cash
distribution shall only be made after (a) payment of all
operating expenses of the Partnership payable as of such time
(including, wit