Exhibit 10.26

 

SIXTH

AMENDMENT

TO THE

 

AGREEMENT OF LIMITED PARTNERSHIP

OF

NORTHSTAR REALTY FINANCE LIMITED PARTNERSHIP

 

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Dated as of March 21, 2012

 

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THIS SIXTH AMENDMENT TO THE AGREEMENT OF LIMITED PARTNERSHIP OF NORTHSTAR REALTY
FINANCE LIMITED PARTNERSHIP (this “Amendment”), dated as of March 21, 2012, is
hereby adopted by NorthStar Realty Finance Corp., a Maryland corporation
(defined in the Agreement, hereinafter defined, as the “General Partner”), as
the general partner of NorthStar Realty Finance Limited Partnership, a Delaware
limited partnership (the “Partnership”). For ease of reference, capitalized
terms used herein and not otherwise defined have the meanings assigned to them
in the Agreement of Limited Partnership of NorthStar Realty Finance Limited
Partnership, dated as of October 19, 2004, as amended by the First Amendment to
the Agreement of Limited Partnership, dated as of March 14, 2006, the Second
Amendment, dated September 14, 2006, the Third Amendment, dated as of
February 7, 2007, the Fourth Amendment, dated as of May 24, 2007 and the Fifth
Amendment, dated as of FMay 29, 2008 (as so amended, the “Agreement”).

 

WHEREAS, the General Partner has previously established and set forth the terms
of Partnership Interests designated as 8.25% Series B Cumulative Redeemable
Preferred Units (the “Series B Preferred Units”);

 

WHEREAS, the General Partner desires to issue additional Series B Preferred
Units;

 

WHEREAS, Section 4.2(a) of the Agreement grants the General Partner authority to
cause the Partnership to issue interests in the Partnership in one or more
classes or series, with such designations, preferences and relative,
participating, optional or other special rights, powers and duties as may be
determined by the General Partner in its sole and absolute discretion;

 

WHEREAS, Section 4.2(b) of the Agreement grants the General Partner authority to
cause the Partnership to issue to the General Partner Partnership Units (other
than Partnership Common Units) in connection with an issuance of Preferred
Stock;

 

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WHEREAS, the General Partner desires to amend Exhibit A to the Agreement to set
forth the number Series B Preferred Units issued and outstanding;

 

WHEREAS, Section 7.3(c) of the Agreement grants the General Partner power and
authority to amend the Agreement without the consent of any of the Partnership’s
limited partners to issue additional Partnership Interest in accordance with
Section 4.2 and requires that the General Partner provide notice to the limited
partners when any action is taken under Section 7.3(c);

 

NOW, THEREFORE, the General Partner hereby amends the Agreement as follows:

 

1.              Exhibit A of the Agreement is hereby deleted and is replaced in
its entirety by new Exhibit A attached hereto as Attachment 1.

 

2.              The Agreement and this Amendment shall be read together and
shall have the same force and effect as if the provisions of the Agreement and
this Amendment (including attachments hereto) were contained in one document.
Any provisions of the Agreement not amended by this Amendment shall remain in
full force and effect as provided in the Agreement immediately prior to the date
hereof.

 

2

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IN WITNESS WHEREOF, the General Partner has executed this Amendment as of the
date first written above.

 

 

NORTHSTAR REALTY FINANCE CORP.

 

 

 

 

By

/s/ Albert Tylis

 

Name:

Albert Tylis

 

Title:

Co-President, Chief Operating Officer and Secretary

 

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Attachment 1

 

Exhibit A

PARTNERS AND PARTNERSHIP UNITS

 

Name and Address of Partners

 

Partnership Units (Type and Amount)

 

 

 

General Partner:

 

 

 

 

 

NORTHSTAR REALTY FINANCE CORP.

399 Park Avenue, 18th Fl.

New York, NY 10022

 

1 Partnership Common Unit

 

 

 

Initial Limited Partner:

 

 

 

 

 

NORTHSTAR REALTY FINANCE CORP.

399 Park Avenue, 18th Fl.

New York, NY 10022

 

99 Partnership Common Units

 

 

 

Unit Holder:

 

 

 

 

 

NORTHSTAR REALTY FINANCE CORP.

399 Park Avenue, 18th Fl.

New York, NY 10022

 

2,400,000 Series A Preferred Units

 

 

 

Unit Holder:

 

 

 

 

 

NORTHSTAR REALTY FINANCE CORP.

399 Park Avenue, 18th Fl.

New York, NY 10022

 

9,200,000 Series B Preferred Units

 

1

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