Exhibit 10.2
THIRD AMENDMENT TO THE AMENDED
AND RESTATED
AGREEMENT OF LIMITED
PARTNERSHIP
This THIRD AMENDMENT TO THE AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP OF UNIVERSAL CITY DEVELOPMENT
PARTNERS, LTD., a Florida limited partnership (the “
Partnership ”), is made and entered into as of October
18, 2009 (this “ Amendment ”), by and between
UNIVERSAL CITY FLORIDA HOLDING CO. II, a Florida general
partnership (“ Holding II ”), in its capacity as
the sole general partner of the Partnership, and UNIVERSAL CITY
FLORIDA HOLDING CO. I, a Florida general partnership (“
Holding I ”), in its capacity as the sole limited
partner of the Partnership. Additional parties to this Amendment,
in their individual capacities, are the five constituents of
Holding I and Holding II, namely the Blackstone Partners and UniCo,
and Universal Parent, which additional parties are not partners in
the Partnership.
W I T N E S S E T
H
WHEREAS, the parties hereto and/or their predecessors
have entered into the Amended and Restated Agreement of Limited
Partnership of Universal City Development Partners, Ltd., dated as
of June 5, 2002 (the “ Original Partnership
Agreement ”), with respect to the Partnership;
WHEREAS, the parties hereto and/or their predecessors
have entered into the First Amendment to the Amended and Restated
Agreement of Limited Partnership, dated as of May 25, 2007 (the
“ First Amendment ”), amending certain
provisions of the Partnership Agreement;
WHEREAS, the parties hereto and/or their predecessors
have entered into the Second Amendment to the Amended and Restated
Agreement of Limited Partnership, dated as of November 7, 2007 (the
“ Second Amendment ”; the Original Partnership
Agreement, as amended by the First Amendment and the Second
Amendment, is referred to herein as the “ Partnership
Agreement ”), amending certain provisions of the
Partnership Agreement;
WHEREAS, the parties hereto desire to amend the
Partnership Agreement as set forth herein with respect to the
payment of the Special Fee and related provisions.
NOW, THEREFORE, in consideration of the mutual covenants
hereinafter set forth, it is agreed by and between the parties
hereto as follows:
1. Certain Defined
Terms . 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.
Amendment to Section 20 . Section 20(b) of the
Partnership Agreement shall be amended by adding the following
language at the end of the first paragraph of the
Section:
“Notwithstanding the
foregoing, for the period from and after the first day of the
Partnership’s monthly financial reporting period for
November, 2009 through and including the last day of the
Partnership’s monthly financial reporting period for June,
2017 (the “Fee Modification Period”), the Special Fee
shall be equal to 5.25% of Project 1 Gross and 5.25% of Gate 2
Gross. In addition, during the Fee Modification Period,
the reference to “5% of the gross revenues received”
and each reference to “10%” contained in this first
paragraph of Section 20(b) shall be modified to &ld