EXHIBIT 10.69
AMENDED AND RESTATED
CONTRIBUTION AGREEMENT
(FUTURE ASSET MANAGEMENT AND
PROPERTY MANAGEMENT AGREEMENTS)
BY AND BETWEEN
▇▇▇▇ CAPITAL CORPORATION
A DISTRICT OF COLUMBIA CORPORATION,
AS CONTRIBUTOR
AND
COLUMBIA EQUITY, LP,
A VIRGINIA LIMITED PARTNERSHIP,
AS ACQUIRER
TABLE OF CONTENTS
ARTICLE I THE CONTRIBUTION.......................................................................................1
1.1 Contribution..................................................................................1
1.2 Consideration.................................................................................1
1.3 Redemption Rights for Units...................................................................2
1.4 Tax Consequences to Contributor...............................................................2
ARTICLE II REPRESENTATIONS AND COVENANTS.........................................................................2
2.1 Representations by Acquirer...................................................................2
2.2 Representations by Contributor................................................................4
2.3 Covenants of Acquirer.........................................................................6
2.4 Covenants of Contributor......................................................................6
ARTICLE III Conditions Precedent to the Closing..................................................................7
3.1 Conditions to Acquirer's Obligations..........................................................7
3.2 Conditions to Contributor's Obligations.......................................................7
ARTICLE IV Closing and Closing Documents.........................................................................8
4.1 Closing.......................................................................................8
4.2 Contributor's Deliveries......................................................................8
4.3 Acquirer's Deliveries.........................................................................9
4.4 Fees and Expenses; Closing Costs..............................................................9
4.5 Adjustments...................................................................................9
ARTICLE V Miscellaneous..........................................................................................9
5.1 Notices.......................................................................................9
5.2 Entire Agreement; Modifications and Waivers; Cumulative Remedies.............................10
5.3 Exhibits.....................................................................................10
5.4 Successors and Assigns.......................................................................10
5.5 Article Headings.............................................................................11
5.6 Governing Law................................................................................11
5.7 Counterparts.................................................................................11
5.8 Survival.....................................................................................11
5.9 Severability.................................................................................11
5.10 Attorneys' Fees..............................................................................11
EXHIBITS
A Assignment and Assumption Agreement
CONTRIBUTION AGREEMENT
THIS
CONTRIBUTION AGREEMENT (this "Agreement") is made as of this 1st day
of April, 2005 by and between ▇▇▇▇ Capital Corporation, a District of Columbia
corporation ("Contributor"); and Columbia Equity, LP, a
Virginia limited
partnership ("Acquirer").
RECITALS
A. Contributor intends to sponsor a publicly-owned real estate investment
trust (the "REIT"), which REIT will own property and membership interests in
entities with direct or indirect ownership over various real properties and
improvements located thereon (the "Properties"), contributed by and purchased
from Contributor's affiliates and other entities in exchange for partnership
units (the "Units") in Acquirer or Common Stock in the REIT (the "Common
Stock").
B. Contributor desires to contribute all of its right, title and interest
in and to any asset management agreements (the "Asset Management Agreements")
and property management agreements (the "Property Management Agreements," and
together with the Asset Management Agreements, the "Management Agreements"),
related to the Properties or other real properties entered into by Contributor
during the period between the date first written above and the Closing Date (as
defined below) to Acquirer, on the terms and conditions hereinafter set forth.
C. Acquirer desires to acquire the Management Agreements from Contributor,
on the terms and conditions hereinafter set forth.
AGREEMENT
NOW, THEREFORE, for and in consideration of the mutual covenants herein
contained, the parties hereto agree as follows:
ARTICLE I
THE CONTRIBUTION
1.1 Contribution. Contributor agrees to contribute, transfer, assign and
convey all of its right, title and interest in and to the Management Agreements
to Acquirer, and Acquirer agrees to acquire and assume the Management Agreements
pursuant to the terms and conditions set forth in this Agreement. The Management
Agreements shall be transferred to Acquirer free and clear of all liens,
encumbrances, security interests, prior assignments or conveyances, conditions,
restrictions, voting agreements, claims, and any other matters affecting title
thereto.
1.2 Consideration. The total consideration (the "Consideration") for which
Contributor agrees to contribute and assign the Management Agreements to
Acquirer, and which Acquirer agrees to pay or deliver to Contributor, subject to
the terms of this Agreement, shall be the issuance to Contributor of a number of
either (i) Units or (ii) if Contributor notifies Acquirer at least thirty (30)
days prior to the anticipated effective date of the IPO (defined below), shares
of Common Stock equal to (a) the sum of (i) Five (5) times the projected
aggregate asset management fees payable to Acquirer under the Asset Management
Agreements for the twelve (12) calendar months immediately following the Closing
Date, plus (ii) Five (5) times the
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projected Net Property Management Fees payable under the Property Management
Agreements for the twelve (12) calendar months immediately following the Closing
Date, (b) divided by the price per share at which the common stock, $.01 par
value per share, (the "Common Stock") of the REIT, is offered to the public in
the underwritten initial public offering of the Common Stock (the "IPO"). For
the purposes of this Agreement, the "Net Property Management Fees" shall be
equal to the fees paid to the Contributor under the Property Management
Agreements, less fees paid by Contributor to any third parties pursuant to any
subcontracts for services performed under the Property Management Agreements. On
the Closing Date (as defined below), the Units or Common Stock shall be issued
to Contributor. Upon the request of Contributor, Acquirer shall issue
certificates reflecting Contributor's ownership of Units or Common Stock. The
certificates evidencing the Units or Common Stock will bear appropriate legends
indicating (i) that the Units or Common Stock have not been registered under the
Securities Act of 1933, as amended ("Securities Act"), and (ii) that Acquirer's
Amended and Restated Agreement of Limited Partnership (the "Partnership
Agreement") restricts the transfer of the Units. Upon receipt of the Units and
execution and delivery of the Partnership Agreement, Contributor shall become a
limited partner of Acquirer.
1.3 Redemption Rights for Units. Each Unit shall be redeemable, at the
option of the holder, in accordance with, but subject to the restrictions
contained in, the Partnership Agreement; provided, however, that such redemption
option may not be exercised prior to the first anniversary of the Closing Date.
1.4 Tax Consequences to Contributor. Notwithstanding anything to the
contrary contained in this Agreement, including without limitation the use of
words and phrases such as "sell," "sale," purchase," and "pay," the parties
hereto acknowledge and agree that, if and to the extent Contributor elects to
take its Consideration in the form of Units, it is their intent that the
transaction contemplated hereby be treated for federal income tax purposes as
the contribution of the Management Agreements by Contributor to Acquirer in
exchange for Units pursuant to Section 721 of the Internal Revenue Code of 1986,
as amended (the "Code"), and not as a transaction in which Contributor is acting
other than in its capacity as a prospective partner of Acquirer.
ARTICLE II
REPRESENTATIONS AND COVENANTS
2.1 Representations by Acquirer. Acquirer hereby represents and warrants
unto Contributor that the following statements are true, correct, and complete
in every material respect as of the date of this Agreement and will be true,
correct, and complete as of the Closing Date:
(a) Organization and Power. Acquirer is duly organized and
validly existing, under the laws of the Commonwealth of
Virginia, and has full
right, power, and authority to enter into this Agreement and to perform all of
its obligations under this Agreement; and, the execution and delivery of this
Agreement and the performance by Acquirer of its obligations under this
Agreement have been duly authorized by all requisite action of Acquirer and
require no further action or approval of Acquirer's partners or of any other
individuals or entities in order to constitute this Agreement as a binding and
enforceable obligation of Acquirer.
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(b) Noncontravention. Neither the entry into nor the
performance of, or compliance with, this Agreement by Acquirer has resulted, or
will result, in any violation of, or default under, or result in the
acceleration of, any obligation under the Partnership Agreement, or any
mortgage, indenture, lien agreement, note, contract, permit, judgment, decree,
order, restrictive covenant, statute, rule, or regulation applicable to
Acquirer.
(c) Litigation. There is no action, suit, or proceeding,
pending or known to be threatened, against or affecting Acquirer in any court or
before any arbitrator or before any federal, state, municipal, or other
governmental department, commission, board, bureau, agency or instrumentality
which (i) in any manner raises any question affecting the validity or
enforceability of this Agreement, (ii) would reasonably be expected to
materially and adversely affect the business, financial position, or results of
operations of Acquirer, or (iii) would reasonably be expected to materially and
adversely affect the ability of Acquirer to perform its obligations hereunder,
or under any document to be delivered pursuant hereto.
(d) Units and Common Stock Validly Issued. The Common Stock,
when and if issued, will have been duly and validly authorized and issued, free
of any preemptive or similar rights, and will be fully paid and nonassessable.
The Units, when and if issued, will have been duly and validly authorized and
issued, free of any preemptive or similar rights, and will be fully paid and
nonassessable, without any obligation to restore capital except as required by
the
Virginia Revised Uniform Limited Partnership Act (the "Limited Partnership
Act"). If Units are issued to Contributor as Consideration hereunder, upon
execution and delivery of the Partnership Agreement by Contributor, Contributor
shall be admitted as a limited partner of Acquirer as of the Closing Date and
shall be entitled to all of the rights and protections of a limited partner
under the Limited Partnership Act and the provisions of the Partnership
Agreement, with the same rights, preferences, and privileges as all other
limited partners on a pari passu basis.
(e) Consents. Each consent, approval, authorization, order,
license, certificate, permit, registration, designation, or filing by or with
any governmental agency or body necessary for the execution, delivery, and
performance of this Agreement or the transactions contemplated hereby by
Acquirer has been obtained.
(f) Bankruptcy with respect to Acquirer. No Act of Bankruptcy
has occurred with respect to Acquirer. As used herein, "Act of Bankruptcy" shall
mean if a party hereto shall (A) apply for or consent to the appointment of, or
the taking of possession by, a receiver, custodian, trustee or liquidator of
itself or of all or a substantial part of its property, (B) admit in writing its
inability to pay its debts as they become due, (C) make a general assignment for
the benefit of its creditors, (D) file a voluntary petition or commence a
voluntary case or proceeding under the Federal Bankruptcy Code (as now or
hereafter in effect), (E) be adjudicated bankrupt or insolvent, (F) file a
petition seeking to take advantage of any other law relating to bankruptcy,
insolvency, reorganization, winding-up or composition or adjustment of debts,
(G) fail to controvert in a timely and appropriate manner, or acquiesce in
writing to, any petition filed against it in an involuntary case or proceeding
under the Federal Bankruptcy Code (as now or hereafter in effect), or (H) take
any action for the purpose of effecting any of the foregoing.
(g) Brokerage Commission. Acquirer has not engaged the
services of, nor has it or will it or Contributor become liable to, any real
estate agent, broker, finder or any other
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person or entity for any brokerage or finder's fee, commission or other amount
with respect to the transactions described herein on account of any action by
Acquirer. Acquirer hereby agrees to indemnify and hold Contributor and its
employees, directors, members, partners, affiliates and agents harmless against
any claims, liabilities, damages or expenses arising out of a breach of the
foregoing. This indemnification shall survive Closing or any termination of this
Agreement.
2.2 Representations by Contributor. Contributor hereby represents and
warrants unto Acquirer that each and every one of the following statements is
true, correct, and complete in every material respect as of the date of this
Agreement and will be true, correct, and complete as of the Closing Date:
(a) Organization and Power. Contributor is duly incorporated,
validly existing, and in good standing as a corporation under the laws of the
District of Columbia. Contributor has full right, power, and authority to enter
into this Agreement and to assume and perform all of its obligations under this
Agreement; and the execution and delivery of this Agreement and the performance
by Contributor of its obligations hereunder have been duly authorized by all
requisite action of Contributor and require no further action or approval of
Contributor's board of directors or shareholders or of any other individuals or
entities in order to constitute this Agreement as a binding and enforceable
obligation of Contributor.
(b) Noncontravention. Neither the entry into nor the
performance of, or compliance with, this Agreement by Contributor has resulted,
or will result, in any violation of, or default under, or result in the
acceleration of, any obligation under any bylaws, regulation, mortgage,
indenture, lien agreement, note, contract, permit, judgment, decree, order,
restrictive covenant, statute, rule, or regulation applicable to Contributor or
to the Management Agreements.
(c) Litigation. There is no action, suit, claim, or proceeding
pending or threatened against or affecting Contributor or the Management
Agreements in any court, or before any arbitrator, or before any federal, state,
municipal or other governmental department, commission, board, bureau, agency or
instrumentality which (A) in any manner raises any question affecting the
validity or enforceability of this Agreement, (B) would reasonably be expected
to materially and adversely affect the business, financial position or results
of operations of Contributor, (C) would reasonably be expected to materially and
adversely affect the ability of Contributor to perform its obligations
hereunder, or under any document to be delivered pursuant hereto, (D) would
reasonably be expected to create a lien on the Management Agreements, any part
thereof, or any interest therein, or (E) would reasonably be expected to
adversely affect the Management Agreements, or any interest therein.
(d) Good Title. (A) Contributor will have good title to the
Management Agreements on the Closing Date and, (B) the Management Agreements on
the Closing Date will be free and clear of all liens, encumbrances, pledges,
voting agreements and security interests whatsoever.
(e) No Consents. Each consent, approval, authorization, order,
license, certificate, permit, registration, designation, or filing by or with,
any governmental agency or body necessary of the execution, delivery, and
performance of this Agreement or the transactions
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contemplated hereby by Contributor has been obtained or will be obtained on or
before the Closing Date.
(f) Securities Law Matters. (i) In acquiring the Units or
Common Stock and engaging in this transaction, neither Contributor nor any
member or shareholder thereof is relying upon any representations made to it by
Acquirer, or any of its partners, officers, employees, or agents that are not
contained herein. Contributor is aware of and understands the risks involved in
investing in the Common Stock or in the Units and in the Common Stock issuable
upon redemption of such Units. Contributor has had an opportunity to ask
questions of, and to receive answers from, Acquirer and the REIT or a person or
persons authorized to act on their behalf, concerning the terms and conditions
of an investment in the Units and the Common Stock and the financial condition,
affairs, and business of Acquirer and the REIT. Contributor confirms that all
documents, records, and information pertaining to its investment in Acquirer
that have been requested by it, have been made available or delivered to
Contributor prior to the date hereof.
(ii) Contributor understands that none of the Common Stock,
the Units or the Common Stock issuable upon redemption of the Units have been
registered under the Securities Act or any state securities acts and are instead
being offered and sold in reliance on an exemption from such registration
requirements. The Units or Common Stock issuable to Contributor are being
acquired solely for its own account, for investment, and are not being acquired
with a view to, or for resale in connection with, any distribution, subdivision,
or fractionalization thereof, in violation of such laws, and Contributor does
not have any present intention to enter into any contract, undertaking,
agreement, or arrangement with respect to any such resale. Contributor
understands that any certificates representing the Units or Common Stock will
contain appropriate legends reflecting the requirement that such Units or Common
Stock not be resold by Contributor without registration under such laws or the
availability of an exemption from such registration.
(g) Accredited Investors. Contributor is an accredited
investor as that term is defined in Rule 501 of Regulation D under the
Securities Act of 1933, as amended.
(h) Tax Matters. Contributor represents and warrants that it
has obtained from its own counsel advice regarding the tax consequences of (i)
the transfer of the Management Agreements to Acquirer and the receipt of Units
or Common Stock as consideration therefor, (ii) Contributor's admission as a
partner of Acquirer, and (iii) any other transaction contemplated by this
Agreement. Contributor further represents and warrants that it has not relied on
Acquirer or Acquirer's representatives or counsel for such tax advice.
(i) Bankruptcy with respect to Contributor. No Act of
Bankruptcy has occurred with respect to Contributor.
(j) Brokerage Commission. Contributor has not engaged the
services of, nor has it or will it or Acquirer become liable to, any real estate
agent, broker, finder or any other person or entity for any brokerage or
finder's fee, commission or other amount with respect to the transactions
described herein on account of any action by Contributor. Contributor hereby
agrees to indemnify and hold Acquirer and its employees, directors, members,
partners, affiliates
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and agents harmless against any claims, liabilities, damages or expenses arising
out of a breach of the foregoing. This indemnification shall survive Closing or
any termination of this Agreement.
(k) Default. To Contributor's actual knowledge, Contributor is
not in default under any of the Management Agreements.
2.3 Covenants of Acquirer. Acquirer agrees as follows:
(a) Further Acts. In addition to the acts, instruments and
agreements recited herein and contemplated to be performed, executed and
delivered by Acquirer and Contributor, Acquirer shall perform, execute, and
deliver or cause to be performed, executed, and delivered at the Closing or
after the Closing, any and all further acts, instruments, and agreements and
provide such further assurances as Contributor may reasonably require to
consummate the transactions contemplated hereunder.
2.4 Covenants of Contributor. Contributor agrees as follows:
(a) Actions Regarding the Management Agreements. Except as
otherwise permitted hereby, from the date hereof until the Closing Date,
Contributor shall use reasonable commercial efforts not to take any action or
fail to take any action within Contributor's control the result of which would
(1) have a material adverse effect on the Management Agreements, Contributor's
ability to contribute, transfer, assign and convey the Management Agreements to
Acquirer or Acquirer's ability to assume and continue to perform Contributor's
obligations under the Management Agreements after the Closing Date in
substantially the same manner as presently conducted or (2) cause any of the
representations and warranties contained in Section 2.2 to be untrue as of the
Closing Date.
(b) Confidentiality. Contributor acknowledges that the matters
relating to the REIT, the IPO, this Agreement, and the other documents, terms,
conditions and information related thereto (collectively, the "Information") are
confidential in nature. Therefore, Contributor covenants and agrees to keep the
Information confidential and will not (except as required by applicable law,
regulation or legal process, and only after compliance with the provisions of
this Section 2.4) prior to the IPO, without Acquirer's prior written consent,
disclose any Information in any manner whatsoever; provided, however, that the
Information may be revealed only to Contributor's employees, legal counsel and
financial advisors, each of whom shall be informed of the confidential nature of
the Information. In the event that Contributor or its key employees, legal
counsel or financial advisors (collectively, the "Information Group") are
requested pursuant to, or required by, applicable law, regulation or legal
process to disclose any of the Information, the applicable member of the
Information Group will notify Acquirer promptly so that it may seek a protective
order or other appropriate remedy or, in its sole discretion, waive compliance
with the terms of this Section 2.4. Contributor acknowledges that remedies at
law may be inadequate to protect Acquirer or the REIT against any actual or
threatened breach of this Section 2.4, and, without prejudice to any other
rights and remedies otherwise available, Contributor agrees to the granting of
injunctive relief in favor of the REIT and/or Acquirer without proof of actual
damages. Notwithstanding any other express or implied agreement to the contrary,
the parties agree and acknowledge that each of them and each of their
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employees, representatives, and other agents may disclose to any and all
persons, without limitation of any kind, the tax treatment and tax structure of
the transaction and all materials of any kind (including opinions or other tax
analyses) that are provided to any of them relating to such tax treatment and
tax structure, except to the extent that confidentiality is reasonably necessary
to comply with U.S. federal or state securities laws. For purposes of this
paragraph, the terms "tax treatment" and "tax structure" have the meanings
specified in Treasury Regulation section 1.6011-4(c).
(c) Further Acts. In addition to the acts, instruments and agreements
recited herein and contemplated to be performed, executed and delivered by
Acquirer and Contributor, Contributor shall perform, execute, and deliver or
cause to be performed, executed, and delivered at the Closing or after the
Closing, any and all further acts, instruments, and agreements and provide such
further assurances as Acquirer may reasonably require to consummate the
transactions contemplated hereunder.
ARTICLE III
CONDITIONS PRECEDENT TO THE CLOSING
3.1 Conditions to Acquirer's Obligations. In addition to any other
conditions set forth in this Agreement, Acquirer's obligation to consummate the
Closing is subject to the timely satisfaction of each and every one of the
conditions and requirements set forth in this Section 3.1, all of which shall be
conditions precedent to Acquirer's obligations under this Agreement.
(a) Contributor's Obligations. Contributor shall have
performed all obligations of Contributor hereunder which are to be performed
prior to Closing, and shall have delivered or caused to be delivered to
Acquirer, all of the documents and other information required of Contributor
pursuant to Section 4.2.
(b) Contributor's Representations and Warranties.
Contributor's representations and warranties set forth in Section 2.2 shall be
true and correct in all material respects as if made again on the Closing Date,
and Contributor shall have executed and delivered to Acquirer at Closing a
certificate to the foregoing effect.
(c) No Injunction. On the Closing Date, there shall be no
effective injunction, writ, preliminary restraining order or other order issued
by a court of competent jurisdiction restraining or prohibiting the consummation
of the transactions contemplated hereby.
(d) Completion of IPO. The IPO shall have been completed.
(e) Closing. The Closing shall have occurred on or prior to
June 30, 2005.
3.2 Conditions to Contributor's Obligations. In addition to any other
conditions set forth in this Agreement, Contributor's obligation to consummate
the Closing is subject to the timely satisfaction of each and every one of the
conditions and requirements set forth in this Section 3.2, all of which shall be
conditions precedent to Contributor's obligations under this Agreement.
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(a) Acquirer's Obligations. Acquirer shall have performed all
obligations of Acquirer hereunder which are to be performed prior to Closing,
and shall have delivered or caused to be delivered to Contributor, all of the
documents and other information required of Acquirer pursuant to Section 4.3.
(b) Acquirer's Representations and Warranties. Acquirer's
representations and warranties set forth in Section 2.1 shall be true and
correct in all material respects as if made again on the Closing Date, and
Acquirer shall have executed and delivered to Contributor at Closing a
certificate to the foregoing effect.
(c) No Injunction. On the Closing Date, there shall be no
effective injunction, writ, preliminary restraining order or other order issued
by a court of competent jurisdiction restraining or prohibiting the consummation
of the transactions contemplated hereby.
(d) Completion of IPO. The IPO shall have been completed.
(e) Closing. The Closing shall have occurred on or prior to
June 30, 2005.
ARTICLE IV
CLOSING AND CLOSING DOCUMENTS
4.1 Closing. The consummation and closing (the "Closing") of the
transactions contemplated under this Agreement shall take place at the offices
of Hunton & ▇▇▇▇▇▇▇▇ LLP, Washington, D.C., or such other place as is mutually
agreeable to the parties, on the date of the closing of the IPO (the "Closing
Date"), or as otherwise set by agreement of the parties; provided, however, that
this Agreement shall terminate if Closing does not occur prior to June 30, 2005.
4.2 Contributor's Deliveries. At the Closing, Contributor shall deliver
the following to Acquirer in addition to all other items required to be
delivered to Acquirer by Contributor:
(a) Assignment of Management Agreements. Contributor shall
have executed and delivered to Acquirer an Assignment and Assumption Agreement,
in substantially the form of Exhibit A attached hereto (the "Assignment and
Assumption Agreement");
(b) Execution of Partnership Agreement. The Signature page of
the Partnership Agreement duly executed by Contributor as a limited partner; and
(c) Authority Documents. Evidence satisfactory to Acquirer
that the person or persons executing the closing documents on behalf of
Contributor has full right, power, and authority to do so.
(d) Certificate of Representations and Warranties. The
certificate required by Section 3.1(b).
(e) Other Documents. Any other document or instrument
reasonably requested by Acquirer or required hereby.
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4.3 Acquirer's Deliveries. At the Closing, Acquirer shall deliver the
following to Contributor:
(a) Certificates for Units or Common Stock. If certificates
are issued, certificates duly issued by Acquirer in the name of Contributor as
of the Closing Date representing the Units or Common Stock to which Contributor
is entitled pursuant to Section 1.2 of this Agreement;
(b) Assumption of Management Agreements. Acquirer shall have
executed and delivered to Contributor an Assignment and Assumption Agreement.
(c) Executed Partnership Agreement. An original of the
Partnership Agreement, duly executed by its general partner; and
(d) Authority Documents. Evidence satisfactory to Contributor
that the person or persons executing the closing documents on behalf of Acquirer
have full right, power, and authority to do so.
(e) Certificate of Representations and Warranties. The
certificate required by Section 3.2(b).
(f) Other Documents. Any other document or instrument
reasonably requested by Contributor or required hereby.
4.4 Fees and Expenses; Closing Costs. Acquirer shall pay all fees,
expenses and closing costs relating to the transactions contemplated by this
Agreement; provided however, that Contributor shall pay its own attorneys' and
consultants' fees and expenses.
4.5 Adjustments.
(a) Acquirer shall deliver the number Units or Common Stock,
whether certificated or otherwise, to which Contributor is entitled pursuant to
Section 1.2 of this Agreement without any setoffs or adjustments.
ARTICLE V
MISCELLANEOUS
5.1 Notices. Any notice provided for by this Agreement and any other
notice, demand, or communication required hereunder shall be in writing and
either delivered in person (including by confirmed facsimile transmission) or
sent by registered or certified mail or overnight courier, return receipt
requested, in a sealed envelope, postage prepaid, and addressed to the party for
which such notice, demand or communication is intended at such party's address
as set forth in this Section. All notices to Acquirer shall be addressed as
follows:
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ACQUIRER:
Columbia Equity, LP
c/▇ ▇▇▇▇ Capital Corporation
▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇
Attn: ▇▇▇▇▇▇ ▇. ▇▇▇▇, III
Contributor's address for all purposes under this Agreement shall be the
following:
CONTRIBUTOR:
▇▇▇▇ Capital Corporation
▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Any address or name specified above may be changed by a notice given by the
addressee to the other party. Any notice, demand or other communication shall be
deemed given and effective as of the date of delivery in person or receipt set
forth on the return receipt. The inability to deliver because of changed address
of which no notice was given, or rejection or other refusal to accept any
notice, demand or other communication, shall be deemed to be receipt of the
notice, demand or other communication as of the date of such attempt to deliver
or rejection or refusal to accept.
5.2 Entire Agreement; Modifications and Waivers; Cumulative Remedies. This
Agreement supersedes any existing letter of intent between the parties,
constitutes the entire agreement among the parties hereto and may not be
modified or amended except by instrument in writing signed by the parties
hereto, and no provisions or conditions may be waived other than by a writing
signed by the party waiving such provisions or conditions. No delay or omission
in the exercise of any right or remedy accruing to Contributor or Acquirer upon
any breach under this Agreement shall impair such right or remedy or be
construed as a waiver of any such breach theretofore or thereafter occurring.
The waiver by Contributor or Acquirer of any breach of any term, covenant, or
condition herein stated shall not be deemed to be a waiver of any other breach,
or of a subsequent breach of the same or any other term, covenant, or condition
herein contained. All rights, powers, options, or remedies afforded to
Contributor or Acquirer either hereunder or by law shall be cumulative and not
alternative, and the exercise of one right, power, option, or remedy shall not
bar other rights, powers, options, or remedies allowed herein or by law, unless
expressly provided to the contrary herein.
5.3 Exhibits. All exhibits referred to in this Agreement and attached
hereto are hereby incorporated in this Agreement by reference.
5.4 Successors and Assigns. Except as set forth in this Article, this
Agreement may not be assigned by Acquirer or Contributor without the prior
approval of the other party hereto.
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This Agreement shall be binding upon, and inure to the benefit of, Contributor,
Acquirer, and their respective legal representatives, successors, and permitted
assigns.
5.5 Article Headings. Article headings and article and section numbers are
inserted herein only as a matter of convenience and in no way define, limit, or
prescribe the scope or intent of this Agreement or any part hereof and shall not
be considered in interpreting or construing this Agreement.
5.6 Governing Law. This Agreement shall be construed and interpreted in
accordance with the laws of the Commonwealth of
Virginia, without regard to
conflicts of laws principles.
5.7 Counterparts. This Agreement may be executed in any number of
counterparts and by any party hereto on a separate counterpart, each of which
when so executed and delivered shall be deemed an original and all of which
taken together shall constitute but one and the same instrument.
5.8 Survival. All representations and warranties contained in this
Agreement, and all covenants and agreements contained in the Agreement which
contemplate performance after the Closing Date shall survive the Closing.
5.9 Severability. In case any one or more of the provisions contained in
this Agreement shall for any reason be held to be invalid, illegal, or
unenforceable in any respect, such invalidity, illegality, or unenforceability
shall not affect any other provision hereof, and this Agreement shall be
construed as if such invalid, illegal, or unenforceable provision had never been
contained herein.
5.10 Attorneys' Fees. Should a party employ an attorney or attorneys to
enforce any of the provisions hereof or to protect its interest in any manner
arising under this Agreement, or to recover damages for breach of this
Agreement, any non-prevailing party in any action pursued in a court of
competent jurisdiction (the finality of which is not legally contested) shall
pay to the prevailing party all reasonable costs, damages, and expenses,
including reasonable attorneys' fees, expended or incurred in connection
therewith.
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[SIGNATURES APPEAR ON FOLLOWING PAGE]
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IN WITNESS WHEREOF, this Agreement has been entered into effective as of
the date first above written.
CONTRIBUTOR:
▇▇▇▇ Capital Corporation, a District of
Columbia corporation
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇, III
----------------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇, III
Title: President & Chief Executive Officer
ACQUIRER:
Columbia Equity, LP, a
Virginia limited
partnership
By:
Columbia Equity Trust, Inc., a Maryland
corporation, its general partner
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇, III
----------------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇, III
Title: Chairman and Chief Executive Officer
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EXHIBIT A
ASSIGNMENT AND ASSUMPTION AGREEMENT
▇▇▇▇ Capital Corporation, a District of Columbia corporation ("Assignor"), for
good and valuable consideration paid to the Assignor by Columbia Equity, LP, a
Virginia limited partnership ("Assignee"), pursuant to the
Contribution
Agreement dated as of [__________], 2005, by and between Assignor and Assignee
(the "Agreement") and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, does hereby sell, assign, transfer,
convey and deliver to the Assignee, its successors and assigns, good and
indefeasible title to the asset management agreements identified on Schedule 1
attached hereto (the "Management Agreements"), free and clear of all liens,
encumbrances, security interests, prior assignments, conditions, restrictions,
pledges, claims, and other matters affecting title thereto, subject to the
Management Agreements. Assignee does hereby accept the foregoing Assignment and
assumes and agrees to be responsible for all liabilities and obligations under
the Management Agreements from and after the date hereof relating to the
Management Agreements.
Capitalized terms used but not defined herein shall have the respective meanings
ascribed to them in the Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Assignment and
Assumption Agreement to be signed by a duly authorized officer of each, this __
day of ___________, 2005.
CONTRIBUTOR:
▇▇▇▇ Capital Corporation, a District of
Columbia corporation
By:
---------------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇, III
Title: President & Chief Executive Officer
ASSIGNEE:
Columbia Equity, LP, a
Virginia limited
partnership
By:
Columbia Equity Trust, Inc., a
Maryland Corporation, its general
partner
By:
-------------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇, III
Title: Chairman & Chief Executive Officer