|
|
|
|
Document Preview Merger Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Merger Agreement |
|||
|
Entities: |
||||
|
Date: |
2001 |
|||
|
Size: |
Preview shows 12KB of 44KB total |
|||
|
Price: |
$37 |
|||
|
ID: |
#1558060 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
PARTNERSHIP
MERGER AGREEMENT
dated as of May 10, 2001
by and among
G & L ACQUISITION, LLC,
G & L PARTNERSHIP, LLC,
G & L REALTY CORP.
and
G & L REALTY PARTNERSHIP, L.P.
TABLE OF CONTENTS
Page
ARTICLE I. THE PARTNERSHIP MERGER............................................................................... 1
1.1 The Partnership Merger........................................................................... 1
1.2 Closing.......................................................................................... 2
1.3 Effective Time................................................................................... 2
1.4 Effect of the Partnership Merger................................................................. 2
1.5 Conversion of Securities......................................................................... 2
1.6 Further Assurances............................................................................... 3
ARTICLE II. REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND GENERAL PARTNER................................... 3
2.1 Organization, Standing and Power................................................................. 3
2.2 Authorization; Binding Agreement................................................................. 3
2.3 Capitalization................................................................................... 4
2.4 Governmental Consents and Approvals.............................................................. 4
2.5 No Violation..................................................................................... 4
ARTICLE III. REPRESENTATIONS AND WARRANTIES OF ACQUIROR AND ACQUIROR SUB........................................ 5
3.1 Formation and Good Standing...................................................................... 5
3.2 Authorization; Binding Agreement................................................................. 5
3.3 Capital Structure................................................................................ 5
3.4 No Violation..................................................................................... 6
3.5 Governmental Consents and Approvals.............................................................. 6
3.6 No Prior Activities.............................................................................. 6
ARTICLE IV. COVENANTS........................................................................................... 6
4.1 Additional Actions............................................................................... 6
4.2 Notification of Certain Matters.................................................................. 7
ARTICLE V. CONDITIONS........................................................................................... 7
5.1 Conditions to Each Party's Obligation to Effect the Partnership Merger........................... 7
5.2 Conditions to Obligations of the Company and G & L Operating Partnership to Effect the
Partnership Merger............................................................................... 7
i
5.3 Conditions to Obligations of Acquiror and Acquiror Sub to Effect the Partnership Merger.......... 8
ARTICLE VI. TERMINATION......................................................................................... 8
6.1 Termination...................................................................................... 8
6.2 Effect of Termination............................................................................ 8
ARTICLE VII. MISCELLANEOUS...................................................................................... 9
7.1 Non-Survival of Representations and Warranties................................................... 9
7.2 Amendment........................................................................................ 9
7.3 Waiver........................................................................................... 9
7.4 Notices.......................................................................................... 9
7.5 Entire Agreement................................................................................. 10
7.6 Parties in Interest.............................................................................. 10
7.7 Material Events.................................................................................. 10
7.8 Headings......................................................................................... 10
7.9 Interpretation................................................................................... 10
7.10 Assignment....................................................................................... 11
7.11 Governing Law.................................................................................... 11
7.12 Costs and Expenses............................................................................... 11
7.13 Counterparts..................................................................................... 11
7.14 Severability..................................................................................... 11
ii
PARTNERSHIP MERGER AGREEMENT
----------------------------
THIS PARTNERSHIP MERGER AGREEMENT (this "Agreement"), dated as of May 10,
2001, is by and among G & L ACQUISITION, LLC, a Maryland limited liability
company ("Acquiror"), G & L PARTNERSHIP, LLC, a Delaware limited liability
company ("Acquiror Sub"), G & L REALTY CORP., a Maryland corporation (the
"Company"), and G & L REALTY PARTNERSHIP, L.P., a Delaware limited partnership
("G & L Operating Partnership").
RECITALS
A. Acquiror and the Company have entered into an Agreement and Plan of
Merger dated of even date herewith (the "Merger Agreement"), whereby upon the
terms and subject to the conditions set forth in the Merger Agreement, and in
accordance with the Maryland General Corporation Law and the Maryland Limited
Liability Company Act, Acquiror will merge with and into the Company (the
"Merger"). Capitalized terms used herein and not otherwise defined shall have
the respective meanings assigned to them in the Merger Agreement.
B. Acquiror is the sole member of Acquiror Sub, and the Company is the
general partner of G&L Operating Partnership and is sometimes referred to as the
"General Partner."
C. Simultaneously with the Merger, Acquiror Sub will merge with and into
G & L Operating Partnership (the "Partnership Merger") upon the terms and
subject to the conditions of this Agreement and in accordance with the Delaware
Revised Uniform Limited Partnership Act (the "DRULPA") and the Delaware Limited
Liability Company Act (the "DLLCA").
D. The Board of Directors of the Company, the members of Acquiror and
Acquiror Sub and the requisite holders of partnership units ("Partnership
Units") in G & L Operating Partnership, as defined in the Agreement of Limited
Partnership of G & L Operating Partnership, dated November 13, 1993, as amended
("G & L Partnership Agreement"), in light of and subject to the terms and
conditions set forth herein, have approved this Agreement and the Partnership
Merger.
NOW, THEREFORE, in consideration of the mutual covenants, agreements,
representations and warranties contained herein, and for the purpose of setting
forth certain terms and conditions of the Partnership Merger, and the manner of
carrying the same into effect, the parties hereto agree as follows:
ARTICLE I.
THE PARTNERSHIP MERGER
1.1 The Partnership Merger. Upon the terms and subject to the conditions
of this Agreement, Acquiror Sub shall be merged with and into G & L Operating
Partnership, with G & L Operating Partnership as the surviving entity (the
surviving entity in the Partnership Merger is sometimes referred to as the
"Surviving Partnership").
1
1.2 Closing. On the terms and subject to the conditions of this Agreement
and provided that this Agreement has not been terminated pursuant to Article VI,
the closing of the transactions contemplated by this Agreement (the "Closing")
will take place simultaneously with and at the same location as the Closing of
the Merger, as set forth in Section 1.2 of the Merger Agreement, unless another
time, date or place is agreed to in writing by the parties.
1.3 Effective Time. At the Closing, the parties hereto shall cause a
certificate of merger (the "Certificate of Merger") to be executed and filed
with the Secretary of State of the State of Delaware in accordance with the
DRULPA and the DLLCA. The Partnership Merger shall become effective as of the
date and time of such filing, or such other time within 24 hours after such
filing as the parties hereto shall agree to be set forth in the Certificate of
Merger (the "Effective Time"), which, in either case, shall be immediately
following the effective time of the Merger.
1.4 Effect of the Partnership Merger. The parties agree to the following
provisions with respect to the Partnership Merger:
(a) Name of Surviving Partnership. The name of the Surviving
Partnership shall from and after the Effective Time be and continue to be "G & L
Realty Partnership, L.P." until changed in accordance with applicable law.
(b) Certificate of Limited Partnership. The certificate of limited
partnership of G & L Operating Partnership, as in effect immediately prior to
the Effective Time, shall from and after the Effective Time be and continue to
be the certificate of limited partnership of the Surviving Partnership until
changed or amended in accordance therewith and applicable law.
(c) Agreement of Limited Partnership. The G & L Partnership
Agreement, as in effect immediately prior to the Effective Time, shall from and
after the Effective Time be and continue to be the partnership agreement of the
Surviving Partnership until changed or amended in accordance therewith and
applicable law.
(d) Organization. At the Effective Time, the separate existence of
Acquiror Sub shall cease, and G & L Operating Partnership as the Surviving
Partnership and successor shall succeed to Acquiror Sub in the manner of and as
more fully set forth in Section 17-211 of the DRULPA and Section 18-209 of the
DLLCA.
|
End of Preview |
Home Intelligence Services Subscriptions News About Us