Document:

exv10w2

 

Exhibit 10.2

ARCHSTONE-SMITH OPERATING TRUST

9200 E. Panorama Circle, Suite 400

Englewood, Colorado 80112

July 14, 2006

Archstone-Smith Trust

9200 E. Panorama Circle, Suite 400

Englewood, Colorado 80112

On this date we have executed and delivered the Third Supplemental Indenture dated as of July 14,
2006 to that certain the Indenture dated as of February 1, 1994, between Archstone-Smith Operating
Trust, a Maryland real estate investment trust (the “Company”), and Morgan Guaranty Trust Company
of New York, as trustee (“Morgan”), as supplemented by the First Supplemental Indenture dated as of
February 2, 1994, between the Company, Morgan and U.S. Bank National Association (as successor in
interest to State Street Bank and Trust Company), as successor trustee (the “Trustee”), and as
further supplemented by the Second Supplemental Indenture dated as of August 2, 2004, between the
Company and the Trustee, pursuant to which the Company issued $575,000,000 principal amount of its
4.0% Exchangeable Senior Notes due 2036 (the “Notes”). Article 8 of the Third Supplemental
Indenture provides that under the circumstances and subject to the terms and conditions set forth
therein, the Company has the right to deliver to holders of the Notes the common shares of
beneficial interest of, par value $.01 per share (“Common Shares”), of Archstone-Smith Trust (the
“Trust”) in satisfaction of all or a portion of the Company’s obligations under the Notes, at the
election of the Company. If the Company elects to deliver Common Shares on account of Notes, such
shares will first have to be issued by the Trust and then delivered at the direction of the Company
to holders of the Notes. This letter agreement is intended to evidence the Trust’s contractual
commitment to so issue Common Shares.

By countersigning this letter, the Trust hereby agrees that, if and when the Company gives notice
to the Trust that it has elected under the Indenture to deliver Common Shares in satisfaction of
any of its obligations under the Notes, which notice shall include references to the applicable
provisions of the Indenture and calculations of the number of Common Shares to be delivered, the
Trust shall issue within three (3) business days the required number of Common Shares and direct
the transfer agent for the Common Shares to deliver such shares as instructed by the Company to
holders of the Notes. The Trust will (i) issue Common Shares as described above under a then
available registration statement under the Securities Act of 1933, as amended (the “Securities
Act”) without transfer restrictions or (ii) as provided in Section 8.13 of the Third Supplemental
Indenture, issue Common Shares that when so issued are “restricted securities” under the Securities
Act (“Restricted Shares”). As of the date of this letter the Trust and the Company have entered
into a Registration Rights Agreement granting the Company for the benefit of holders of Notes
certain registration rights under the Securities Act with respect to such Restricted Shares.

 

 

This letter shall be governed by and construed in accordance with the laws of the State of New York
applicable to contracts made and to be performed wholly within said state, without giving affect to
the conflict of laws principles thereof.

[Reminder of page intentionally left blank]

2

 

Please indicate your acceptance and agreement by signing below.

	 	 	 	 	 	 	 
	 	 	Sincerely Yours,	 	 
	 
	 	 	 	 	 	 
	 	 	ARCHSTONE-SMITH OPERATING TRUST	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

Rick D. Jacobsen
	 	 
	 

	 	Title:
	 	Senior Vice President and Treasurer	 	 

ACCEPTED AND AGREED BY:

ARCHSTONE-SMITH TRUST

	 	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

Rick D. Jacobsen
	 	 
	Title:

	 	Senior Vice President and Treasurer	 	 

3Exhibit 4.1

 

[SPECIMEN CERFTIFICATE]

 

[Front of
Certificate]

 

CERTIFICATE EVIDENCING COMMON UNITS

REPRESENTING LIMITD PARTNER INTERESTS IN

 

	
  NUMBER

  	
   

  	
   

  	
  COMMON UNITS

  
	
   

  	
   

  	
   

  	
   

  
	
  THIS CERTIFICATE IS TRANSFERABLE IN

  	
   

  	
   

  	
  CUSIP

  
	
  NEW YORK, N.Y.

  	
   

  	
   

  	
  SEE REVERSE FOR

  
	
   

  	
   

  	
   

  	
  CERTAIN DEFINITIONS

  

 

BUCKEYE GP HOLDINGS L.P.
A LIMITED PARTNERSHIP FORMED UNDER THE
LAWS OF DELAWARE

 

In accordance with
Section 4.1 of the Amended and Restated Agreement of Limited Partnership of
Buckeye GP Holdings L.P., as amended, supplemented or restated from time to
time (the “Partnership Agreement”), Buckeye GP Holdings L.P., a Delaware
limited partnership (the “Partnership”),

 

hereby certifies that

 

(the “Holder”) is the
registered owner of
                                                       Common
Units

 

representing limited partner interests in the Partnership (the “Common
Units”) transferable on the books of the Partnership, in person or by duly
authorized attorney, upon surrender of this Certificate properly endorsed and
accompanied by a properly executed application for the transfer of the Common
Units represented by this Certificate. This Certificate and the Common Units
evidenced hereby are issued and shall in all respects be subject to all of the
provisions of the Partnership Agreement, to all of which the holder, by
acceptance hereof, assents, and to the additional terms and provisions on the
reverse side hereof. Copies of the Partnership Agreement are on file at, and
will be furnished without charge on delivery of written request to the Partnership
at, the principal office of the Partnership located at 5002 Buckeye Road,
Emmaus, PA 18049. Capitalized terms used herein but not defined herein shall
have the meanings given them in the Partnership Agreement.

 

The Holder, by accepting
this Certificate, is deemed to have (i) requested admission as, and agreed to
become, a Limited Partner and to have agreed to comply with and be bound by and
to have executed the Partnership Agreement, (ii) represented and warranted that
the Holder has all right, power and authority and, if an individual, the
capacity necessary to enter into the Partnership Agreement, (iii) granted the
powers of attorney provided for in the Partnership Agreement and (iv) made the
waivers and given the consents and approvals contained in the Partnership
Agreement.

 

This Certificate shall
not be valid for any purpose unless it has been countersigned and registered by
the Transfer Agent and Registrar.

 

	
  Dated:

  	
  Buckeye GP Holdings L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  MainLine Management LLC

  
	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Secretary

  
	
   

  	
   

  	
   

  
	
  Countersigned and Registered by:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Computershare Shareholder Services, Inc.

  	
   

  	
   

  
	
   

  	
  as Transfer Agent and Registrar

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Authorized Signature

  	
   

  	
   

  	
   

  

 

 

[Reverse of Certificate]

 

ABBREVIATIONS

 

The following abbreviations, when used in the
inscription on the face of this Certificate, shall be construed as follows
according to applicable laws or regulations:

 

	
  TEN COM

  	
   

  	
  as tenants
  in common

  	
   

  	
  UNIF
  GIFT/TRANSFERS

  	
   

  	
        Custodian      

  
	
   

  	
   

  	
   

  	
   

  	
  MIN ACT

  	
   

  	
   

  
	
  TEN ENT

  	
   

  	
  as tenants
  by the entireties

  	
   

  	
   

  	
   

  	
  (Cust)                   (Minor)

  
	
  JT TEN

  	
   

  	
  as joint
  tenants with right of survivorship and not as tenants in common

  	
   

  	
   

  	
   

  	
  under
  Uniform Gifts/Transfers to CD Minors Act 

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (State)

  

 

Additional abbreviations, though not in the above list, may also be
used.

 

ASSIGNMENT OF COMMON UNITS

IN

Buckeye GP Holdings L.P.

 

FOR VALUE RECEIVED,                             
hereby assigns, conveys, sells and transfers unto           

 

	
   

  	
   

  	
   

  
	
  (Please insert Social Security or other
  identifying number of Assignee)

  	
   

  	
  (Please print or typewrite name and
  address of Assignee)

  

 

              
Common Units representing limited partner interests evidenced by this
Certificate, subject to the Partnership Agreement, and does hereby irrevocably
constitute and appoint                      
as its attorney-in-fact with full power of substitution to transfer the same on
the books of Buckeye GP Holdings L.P.

 

	
  Date:

  	
   

  	
   

  	
   

  	
  NOTE: The signature to any endorsement
  hereon must correspond with the name as written upon the face of this
  Certificate in every particular, without alteration, enlargement or change.

  
	
   

  	
   

  
	
   

  	
   

  

 

 

	
  THE SIGNATURE(S)
  MUST BE GUARANTEED

  	
   

  	
   

  
	
  BY AN ELIGIBLE
  GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND
  CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION
  PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15

  	
   

  	
  (Signature)

  
	
   

  	
   

  	
  (Signature)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SIGNATURE(S)
  GUARANTEED

  	
   

  	
   

  
				

 

No transfer of the Common Units evidenced hereby will be registered on the
books of the Partnership, unless the Certificate evidencing the Units to be
transferred is surrendered for registration or transfer and an Application for
Transfer of Common Units has been properly completed and executed by a
transferee either (a) on the form set forth below or (b) on a separate
application that the Partnership will furnish on request without charge. A
transferor of the Common Units shall have no duty to the transferee with
respect to execution of the Application for Transfer of the Common Units in
order for such transferee to obtain registration of the transfer of the Common
Units.

 

 

APPLICATION FOR
TRANSFER OF COMMON UNITS

 

The undersigned (“Assignee”) hereby applies for transfer to the name of
the Assignee of the Common Units evidenced hereby.

 

The Assignee (a) requests admission as a Limited Partner and agrees to
comply with and be bound by, and hereby executes, the Amended and Restated
Agreement of Limited Partnership of Buckeye GP Holdings L.P. (the “Partnership”),
as amended, supplemented or restated to the date hereof (the “Partnership
Agreement”), (b) represents and warrants that the Assignee has all right, power
and authority and, if an individual, the capacity necessary to enter into the
Partnership Agreement, (c) appoints the General Partner of the Partnership and,
if a Liquidator shall be appointed, the Liquidator of the Partnership as the
Assignee’s attorney-in-fact to execute, swear to, acknowledge and file any
document, including, without limitation, the Partnership Agreement and any
amendment thereto and the Certificate of Limited Partnership of the Partnership
and any amendment thereto, necessary or appropriate for the Assignee’s
admission as a Limited Partner and as a party to the Partnership Agreement, (d)
gives the powers of attorney provided for in the Partnership Agreement, and (e)
makes the waivers and gives the consents and approvals contained in the
Partnership Agreement. Capitalized terms not defined herein have the meanings
assigned to such terms in the Partnership Agreement.

 

 

Date:                 

 

	
   

  	
   

  	
   

  
	
  (Social Security or
  other identifying number of Assignee)

  	
   

  	
  (Signature of
  Assignee)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Purchase Price
  including commission, if any)

  	
   

  	
  (Name and Address of
  Assignee)

  

 

Type of Entity (check one):

 

	
  o Individual

  	
   

  	
  o Partnership

  	
   

  	
  o Corporation

  
	
  o Trust

  	
   

  	
  o Other (specify)

  	
   

  	
   

  	
   

  

 

Nationality (check one):

 

	
  o U.S. Citizen, Resident or Domestic
  Entity

  
	
  o Foreign Corporation

  	
   

  	
  o Non-resident Alien

  

 

If the U.S. Citizen,
Resident or Domestic Entity box is checked, the following certification must be
completed.

 

Under Section 1445(e) of
the Internal Revenue Code of 1986, as amended (the “Code”), the Partnership
must withhold tax with respect to certain transfers of property if a holder of
an interest in the Partnership is a foreign person.

 

To inform the
Partnership that no withholding is required with respect to the undersigned
interestholder’s interest in it, the undersigned hereby certifies the following
(or, if applicable, certifies the following on behalf of the interestholder).

 

Complete Either A or B:

 

A.     Individual Interestholder

 

1.     I am not a non-resident alien for
purposes of U.S. income taxation.

 

2.     My U.S. taxpayer identification number
(Social Security Number) is                             .

 

3.     My home address is                                                            .

 

B.      Partnership, Corporation or Other
Interestholder

 

1.                                                            (name
of Interestholder) is not a foreign corporation, foreign partnership, foreign
trust or foreign estate (as those terms are defined in the Code and Treasury
Regulations).

 

2.     The interestholder’s U.S. employer
identification number is                               .

 

3.     The interestholder’s office address and
place of incorporation (if applicable) is                                 .

 

The interestholder
agrees to notify the Partnership within sixty (60) days of the date the
interestholder becomes a foreign person.

 

The interestholder
understands that this certificate may be disclosed to the Internal Revenue
Service by the Partnership and that any false statement contained herein could
be punishable by fine, imprisonment or both.

 

 

Under penalties of
perjury, I declare that I have examined this certification and to the best of
my knowledge and belief it is true, correct and complete and, if applicable, I
further declare that I have authority to sign this document on behalf of

 

	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name
  of Interestholder

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature
  and Date

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title
  (if applicable)

  	
   

  	
   

  

 

Note: If the Assignee is
a broker, dealer, bank, trust company, clearing corporation, other nominee
holder or an agent of any of the foregoing, and is holding for the account of
any other person, this application should be completed by an officer thereof
or, in the case of a broker or dealer, by a registered representative who is a
member of a registered national securities exchange or a member of the National
Association of Securities Dealers, Inc., or, in the case of any other nominee
holder, a person performing a similar function. If the Assignee is a broker,
dealer, bank, trust company, clearing corporation, other nominee owner or an
agent of any of the foregoing, the above certification as to any person for
whom the Assignee will hold the Units shall be made to the best of the Assignee’s
knowledge.

 

You have acquired an
interest in Buckeye GP Holdings, L.P., 5002 Buckeye Road, Emmaus, Pennsylvania
18049, whose taxpayer identification number is 11-3776228.

 

YOU MUST REPORT THIS
REGISTRATION NUMBER TO THE INTERNAL REVENUE SERVICE IF YOU CLAIM ANY DEDUCTION,
LOSS, CREDIT, OR OTHER TAX BENEFIT OR REPORT ANY INCOME BY REASON OF YOUR
INVESTMENT IN BUCKEYE GP HOLDINGS, L.P.

 

You must report the name
and taxpayer identification number of Buckeye GP Holdings, L.P.) on Internal
Revenue Service Form 8271. FORM 8271 MUST BE TATACHED TO THE RETURN ON WHICH
YOU CLAIM THE DEDUCTION, LOSS, CREDIT, OR OTHER TAX BENEFIT OR REPORT ANY
INCOME.

 

ISSUANCE OF A
REGISTRATION NUMBER DOES NOT INDICATE THAT THIS INVESTMENT OR THE CLAIMED TAX
BENEFITS HAVE BEEN REVIEWED, EXAMINED, OR APPROVED BY THE INTERNAL REVENUE
SERVICE.

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