Document:

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EXHIBIT 4.1

RAMCO-GERSHENSON PROPERTIES TRUST

ARTICLES SUPPLEMENTARY

Classifying 1,150,000 Preferred Shares of Beneficial Interest as

9.5% SERIES B CUMULATIVE REDEEMABLE

PREFERRED SHARES OF BENEFICIAL INTEREST

     RAMCO-GERSHENSON PROPERTIES TRUST, a Maryland real estate investment trust
(“Trust”) formed under Title 8 of the Corporations and Associations Article of
the Annotated Code of Maryland (“Title 8”), hereby certifies to the Maryland
State Department of Assessments and Taxation (“Department”) that:

     FIRST: Pursuant to the authority expressly conferred upon the Board of
Trustees by Article V of the Declaration of Trust of the Trust (the
“Declaration of Trust”) the Board of Trustees has, by resolutions duly adopted
at meeting of the Board of Trustees held on October 2, 2002, authorized the
issuance of up to 1,600,000 preferred shares of beneficial interest of the
Trust, and pursuant to powers contained in the bylaws of the Trust (the
“Bylaws”) and Section 8-206 of Title 8, delegated to the Executive Committee of
the Board of Trustees of the Trust (the “Executive Committee”), to the fullest
extent permitted by Maryland law and the Declaration of Trust and Bylaws of the
Company, all powers of the Board of Trustees with respect to: (i) the
authorization and issuance of shares of beneficial interest of the Trust; (ii)
the classification or reclassification of unissued preferred shares of
beneficial interest of the Trust, par value $.01 per share (the “Preferred
Shares”), as a separate series of Preferred Shares; (iii) the designation and
setting of the preferences, conversion and other rights, voting powers,
restrictions, limitations as to dividends and other distributions,
qualifications and terms and conditions of redemption and other terms and
conditions of such series of Preferred Shares and the determination of the
number of shares of such series of Preferred Shares (not in excess of the
aforesaid maximum number) to be issued and the price and other terms and
conditions upon which shares of such series of Preferred Shares are to be
offered, sold and issued.

     SECOND: Pursuant to the authority conferred upon the Executive Committee
as aforesaid, the Executive Committee has unanimously adopted resolutions
classifying and designating 1,150,000 shares of authorized but unissued
Preferred Shares as a separate series of Preferred Shares to be known as “9.5%
Series B Cumulative Redeemable Preferred Shares of Beneficial Interest,”
setting the preferences, conversion and other rights, voting powers,
restrictions, limitations as to dividends and other distributions,
qualifications and terms and conditions of redemption and other terms and
conditions of such 9.5% Series B Cumulative Redeemable Preferred Shares of
Beneficial Interest and authorizing the issuance of up to 1,150,000 of 9.5%
Series B Cumulative Redeemable Preferred Shares of Beneficial Interest.

     THIRD: The separate series of Preferred Shares of the Trust created by
the resolutions duly adopted by the Board of Trustees of the Trust and by the
Executive Committee and referred to in Articles FIRST and SECOND of these
Articles Supplementary shall have the following designation, number of shares,
preferences, conversion and other rights, voting powers, restrictions,
limitations as to dividends and other distributions, qualifications, terms and
conditions of redemption and other terms and conditions:

     Section 1. DESIGNATION AND AMOUNT.

     A series of Preferred Shares designated as “9.5% Series B Cumulative
Redeemable Preferred Shares” (the “Series B Preferred Shares”) is hereby
established. The number of Series B Cumulative Redeemable Preferred Shares
shall be 1,150,000.

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     Section 2. DIVIDENDS AND DISTRIBUTIONS.

     (a)  Subject to the preferential rights of the holders of any class or
series of shares of beneficial interest ranking senior to the Series B
Preferred Shares as to dividends, the holders of the Series B Preferred Shares
shall be entitled to receive, when, as and if declared by the Board of Trustees
of the Trust (the “Board of Trustees”), out of assets of the Trust legally
available for the payment of dividends, cumulative cash dividends at the rate
of 9.5% per annum of the $25.00 per share liquidation preference of the Series
B Preferred Shares (equivalent to the annual rate of $2.375 per share of the
Series B Preferred Shares). Such dividends shall accrue and be cumulative from
the date of the original issue (the “Original Issue Date”) and shall be payable
quarterly in arrears on the first day of January, April, July and October of
each year (each, a “Dividend Payment Date”), commencing January 1, 2003;
provided, however, that if any Dividend Payment Date is not a business day,
then the dividend which would otherwise have been payable on such Dividend
Payment Date may be paid on the next succeeding business day with the same
force and effect as if paid on such Dividend Payment Date, and no interest or
additional dividends or other sums shall accrue on the amount so payable from
such Dividend Payment Date to such next succeeding business day. The amount of
any dividend payable on the Series B Preferred Shares for any partial dividend
period shall be prorated and computed on the basis of a 360-day year consisting
of twelve 30-day months (it being understood that the dividend payable on
January 1, 2003 will be for less than a full dividend period). A “dividend
period” shall mean the period from and excluding the Original Issue Date to and
including the first Dividend Payment Date, and each subsequent period from and
excluding a Dividend Payment Date to and including the next succeeding Dividend
Payment Date or other date as of which accrued dividends are to be calculated.
Dividends will be payable to holders of record as they appear in the
shareholder records of the Trust at the close of business on the applicable
record date, which shall be the date designated by the Board of Trustees for
the payment of dividends that is not more than 30 nor less than 10 days prior
to the applicable Dividend Payment Date (each, a “Dividend Record Date”).

     (b)  No dividends on the Series B Preferred Shares shall be declared by
the Board of Trustees or paid or set apart for payment by the Trust at such
time as the terms and provisions of any agreement of the Trust, including any
agreement relating to its indebtedness, prohibits such declaration, payment or
setting apart for payment or provides that such declaration, payment or setting
apart for payment would constitute a breach thereof or a default thereunder, or
if such declaration or payment shall be restricted or prohibited by law.

     (c)  Notwithstanding anything contained herein to the contrary,
dividends on the Series B Preferred Shares shall accrue whether or not the
Trust has earnings, whether or not there are funds legally available for the
payment of such dividends, and whether or not such dividends are declared.

     (d)  Except as provided in Section 2(e) below, no dividends shall be
declared or paid or set apart for payment and no other distribution of cash or
other property may be declared or made, directly or indirectly, on or with
respect to any common shares or shares of any other class or series of shares
of beneficial interest of the Trust ranking, as to dividends, on a parity with
or junior to the Series B Preferred Shares (other than a dividend paid in
common shares or in shares of any other class or series of shares of beneficial
interest ranking junior to the Series B Preferred Shares as to dividends and
upon liquidation) for any period, nor shall any common shares of beneficial
interest, or any other shares of beneficial interest of the Trust ranking
junior to or on a parity with the Series B Preferred Shares as to dividends or
upon liquidation, be redeemed, purchased or otherwise acquired for any
consideration (or any moneys be paid to or made available for a sinking fund
for the redemption of any such shares) by the Trust (except by conversion into
or exchange for other shares of beneficial interest of the Trust ranking junior
to the Series B Preferred Shares as to dividends and upon liquidation, and
except for, in accordance with certain provisions of the Declaration of Trust,
under which the Series B Preferred Shares owned by a shareholder in excess of
the Ownership Limit (as defined in the Declaration of Trust) will be
transferred to a trust and may be purchased by

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the Trust under certain circumstances), unless full cumulative dividends on the
Series B Preferred Shares for all past dividend periods and the then current
dividend period shall have been or contemporaneously are (i) declared and paid
in cash or (ii) declared and a sum sufficient for the payment thereof in cash
is set apart for such payment.

     (e)  When dividends are not paid in full (or a sum sufficient for such
full payment is not so set apart) upon the Series B Preferred Shares and the
shares of any other series of preferred shares of beneficial interest ranking
on a parity as to dividends with the Series B Preferred Shares, all dividends
declared upon the Series B Preferred Shares and any other series of preferred
shares of beneficial interest ranking on a parity as to dividends with the
Series B Preferred Shares shall be declared pro rata so that the amount of
dividends declared per share of Series B Preferred Shares and such other series
of preferred shares of beneficial interest shall in all cases bear to each
other the same ratio that accrued dividends per share on the Series B Preferred
Shares and such other series of preferred shares of beneficial interest (which
shall not include any accrual in respect of unpaid dividends on such other
series of preferred shares of beneficial interest for prior dividend periods if
such other series of preferred shares of beneficial interest does not have a
cumulative dividend) bear to each other. No interest, or sum of money in lieu
of interest, shall be payable in respect of any dividend payment or payments on
the Series B Preferred Shares which may be in arrears.

     (f)  Holders of the Series B Preferred Shares shall not be entitled to
any dividend, whether payable in cash, property or shares of beneficial
interest, in excess of full cumulative dividends on the Series B Preferred
Shares as provided above. Any dividend payment made on the Series B Preferred
Shares shall first be credited against the earliest accrued but unpaid
dividends due with respect to such shares which remains payable. Accrued but
unpaid distributions on the Series B Preferred Shares will accumulate as of the
Distribution Payment Date on which they first become payable.

     (g)  In determining whether a distribution (other than upon voluntary or
involuntary liquidation) by dividend, redemption or other acquisition of shares
of beneficial interest of the Trust or otherwise is permitted under Maryland
law, no effect shall be given to amounts that would be needed if the Trust
would be dissolved at the time of the distribution to satisfy the preferential
rights upon distribution of holders of shares of beneficial interest of the
Trust whose preferential rights upon distribution are superior to those
receiving the distribution.

     3.     Liquidation Preference.

     Upon any voluntary or involuntary liquidation, dissolution or winding-up
of the affairs of the Trust, the holders of the Series B Preferred Shares shall
be entitled to be paid out of the assets of the Trust legally available for
distribution to its shareholders a liquidation preference of $25.00 per share,
plus an amount equal to any accrued and unpaid dividends to the date of payment
(whether or not declared), before any distribution or payment shall be made to
holders of common shares of beneficial interest or any other class or series of
shares of beneficial interest of the Trust ranking junior to the Series B
Preferred Shares as to liquidation rights. In the event that, upon such
voluntary or involuntary liquidation, dissolution or winding-up, the available
assets of the Trust are insufficient to pay the amount of the liquidating
distributions on all outstanding shares of Series B Preferred Shares and the
corresponding amounts payable on all shares of other classes or series of
shares of beneficial interest of the Trust ranking on a parity with the Series
B Preferred Shares in the distribution of assets, then the holders of the
Series B Preferred Shares and all other such classes or series of shares of
beneficial interest ranking on a parity with the Series B Preferred Shares
shall share ratably in any such distribution of assets in proportion to the
full liquidating distributions to which they would otherwise be respectively
entitled. Written notice of any such liquidation, dissolution or winding up of
the Trust, stating the payment date or dates when, and the place or places
where, the amounts distributable in such circumstances shall be payable, shall
be given by first class mail, postage pre-paid, not less than 30 or

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more than 60 days prior to the payment date stated therein, to each record
holder of shares of Series B Preferred Shares at the respective addresses of
such holders as the same shall appear on the shareholder records of the Trust.
After payment of the full amount of the liquidating distributions to which they
are entitled, the holders of the Series B Preferred Shares will have no right
or claim to any of the remaining assets of the Trust. The consolidation or
merger of the Trust with or into any other corporation, trust or entity, or the
sale, lease or conveyance of all or substantially all of the property or
business of the Trust shall not be deemed to constitute a liquidation,
dissolution or winding-up of the Trust.

     4.     Redemption.

     (a)  Except as otherwise provided in the provisions of the Declaration of
Trust that relate to the preservation of the Trust’s status as a real estate
investment trust (“REIT”) for federal and state income tax purposes, the Series
B Preferred Shares shall not be redeemable prior to November 12, 2007.

     (b)  On or after November 12, 2007, the Trust, at its option upon not
less than 30 nor more than 60 days’ written notice, may redeem the Series B
Preferred Shares, in whole or in part, at any time or from time to time, for
cash at a redemption price of $25.00 per share, plus all accrued and unpaid
dividends (except as provided in Section 4(f) below), if any (whether or not
declared) thereon to the date fixed for redemption, without interest. If fewer
than all of the outstanding shares of the Series B Preferred Shares are to be
redeemed, the Series B Preferred Shares to be redeemed shall be redeemed pro
rata (as nearly as may be practicable without creating fractional shares) or by
lot or by any other equitable method determined by the Trust. Holders of the
Series B Preferred Shares to be redeemed shall surrender such Series B
Preferred Shares at the place designated in such notice and shall be entitled
to the redemption price and any accrued and unpaid dividends payable upon such
redemption following such surrender. If (i) notice of redemption of any shares
of the Series B Preferred Shares has been given, (ii) the funds necessary for
such redemption and, if the redemption date falls after a Dividend Record Date
and prior to the corresponding Dividend Payment Date, such amount of cash as
necessary to pay the dividends payable on such Dividend Payment Date in respect
of the Series B Preferred Shares so called for redemption, have been
irrevocably set aside by the Trust in trust for the benefit of the holders of
any shares of Series B Preferred Shares so called for redemption and (iii)
irrevocable instructions have been given to pay such redemption price, and if
applicable, such dividend, then from and after the redemption date dividends
shall cease to accrue on such Series B Preferred Shares, such Series B
Preferred Shares shall no longer be deemed outstanding and all rights of the
holders of such shares will terminate, except the right to receive the
redemption price plus (except as provided in Section 4(f) below) any accrued
and unpaid dividends payable upon such redemption, without interest. Nothing
herein shall prevent or restrict the Trust’s right or ability to purchase, from
time to time either at a public or a private sale, all or any part of the
Series B Preferred Shares at such price or prices as the Trust may determine,
subject to the provisions of applicable law.

     (c) In the event of any redemption of the Series B Preferred Shares
pursuant to the Article VII of the Declaration of Trust in order to preserve
the status of the Trust as a REIT for federal and state income tax purposes,
such redemption shall be made on the terms and subject to the condition of the
Declaration of Trust and in accordance with the further terms and conditions
set forth in this Article THIRD, Section 4 of these Articles Supplementary. If
the Trust calls for redemption of any shares of Series B Preferred Shares
pursuant to and in accordance the Declaration of Trust and this Article THIRD,
Section 4(c), then, anything in the Declaration of Trust to the contrary
notwithstanding, the redemption price for such shares will be an amount in cash
equal to $25.00 per share together with (except as provided in Section 4(f)
below) all accrued and unpaid dividends to the date fixed for redemption.
Anything in these Articles Supplementary to the contrary notwithstanding, the
provisions of this Article THIRD, Section 4(c) shall apply only to the
redemption of the Series B Preferred Shares pursuant to the Declaration of
Trust and not to any other purchase or acquisition of Series B Preferred
Shares.

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     (d)  Unless full cumulative dividends on all Series B Preferred Shares
shall have been or contemporaneously are declared and paid in cash or declared
and a sum sufficient for the payment thereof in cash set apart for payment for
all past dividend periods and the then current dividend period, no Series B
Preferred Shares shall be redeemed unless all outstanding shares of the Series
B Preferred Shares are simultaneously redeemed and the Trust shall not purchase
or otherwise acquire directly or indirectly any of the Series B Preferred
Shares (except by exchange for shares of beneficial interest of the Trust
ranking junior to the Series B Preferred Shares as to dividends and amounts
upon liquidation); provided, however, that the foregoing shall not prevent the
purchase by the Trust in accordance with the Article VII of the Declaration of
Trust or the purchase or acquisition of Series B Preferred Shares pursuant to a
purchase or exchange offer made on the same terms to holders of all outstanding
Series B Preferred Shares.

     (e)  Notice of redemption shall be given by publication in a newspaper
of general circulation in the City of New York, such publication to be made
once a week for two successive weeks commencing not less than 30 nor more than
60 days prior to the redemption date. A similar notice shall be mailed by the
Trust, postage prepaid, not less than 30 nor more than 60 days prior to the
redemption date, addressed to the respective holders of record of the Series B
Preferred Shares to be redeemed at their respective addresses as they appear on
the share transfer records of the Trust. No failure to give such notice or any
defect thereto or in the mailing thereof shall affect the sufficiency of notice
or validity of the proceedings for the redemption of any Series B Preferred
Shares except as to a holder to whom notice was defective or not given. A
redemption notice which has been mailed in the manner provided herein shall be
conclusively presumed to have been duly given on the date mailed whether or not
the holder received the redemption notice. Each notice shall state (i) the
redemption date; (ii) the redemption price; (iii) the number of Series B
Preferred Shares to be redeemed; (iv) the place or places where certificates
for Series B Preferred Shares are to be surrendered for payment of the
redemption price; and (v) that dividends on the Series B Preferred Shares to be
redeemed shall cease to accrue on such redemption date. If fewer than all of
the Series B Preferred Shares held by any holder are to be redeemed, the notice
mailed to such holder shall also specify the number of shares of the Series B
Preferred Shares held by such holder to be redeemed.

     (f)  If a redemption date falls after a Dividend Record Date and prior
to the corresponding Dividend Payment Date, in which case each holder of Series
B Preferred Shares at the close of business of such Dividend Record Date shall
be entitled to the dividend payable on such shares on the corresponding
Dividend Payment Date notwithstanding the redemption of such shares before such
Dividend Payment Date. Except as provided above and, except to the extent the
redemption price includes all accrued and unpaid dividends, the Trust shall
make no payment or allowance for unpaid dividends, whether or not in arrears,
on the Series B Preferred Shares for which a notice of redemption has been
given.

     (g)  All Series B Preferred Shares redeemed or repurchased pursuant to
this Article THIRD, Section 4 shall be restored to the status of authorized but
unissued Series B Preferred Shares.

     (h)  The Series B Preferred Shares shall have no stated maturity and
shall not be subject to any sinking fund or mandatory redemption; provided,
however, that the Series B Preferred Shares owned by a shareholder in excess of
the Ownership Limit (as defined in the Declaration of Trust) shall be subject
to the provisions of Article VII of the Declaration of Trust.

     5.     Voting Rights.

     (a)  Holders of the Series B Preferred Shares shall not have any voting
rights, except as set forth in this Article THIRD, Section 5.

     (b)  Whenever dividends on any of the Series B Preferred Shares shall be
in arrears for six or more consecutive or non-consecutive quarterly periods (a
“Preferred Dividend Default”), the holders of such Series B Preferred Shares
(voting separately

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as a class with all other series of parity preferred shares of beneficial
interest of the Trust upon which like voting rights have been conferred and are
exercisable (“Parity Preferred”)) shall be entitled to vote for the election of
a total of two additional trustees of the Trust (the “Preferred Trustees”) at
the next annual meeting of shareholders and at each subsequent meeting until
all dividends accumulated on such Series B Preferred Shares and Parity
Preferred for the past dividend periods and the then current dividend period
shall have been fully paid or declared and a sum sufficient for the payment
thereof set aside for payment. In such case, the entire Board of Trustees will
be increased by two trustees. If and when all accumulated dividends and the
accrued dividend for the then current dividend period shall have been paid on
such Series B Preferred Shares and all series of Parity Preferred upon which
like voting rights have been conferred and are exercisable, the term of office
of each Preferred Trustee so elected shall terminate and the entire Board of
Trustees shall be reduced accordingly. So long as a Preferred Dividend Default
shall continue, any vacancy in the office of a Preferred Trustee may be filled
by written consent of the Preferred Trustee remaining in office, or if none
remains in office, by a vote of the holders of record of a majority of the
outstanding Series B Preferred Shares when they have the voting rights
described above (voting separately as a class with all other series of Parity
Preferred upon which like voting rights have been conferred and are
exercisable). Each of the Preferred Trustees shall be entitled to one vote on
any matter.

     (c)  So long as any Series B Preferred Shares remain outstanding, the
Trust shall not, without the affirmative vote or consent of the holders of
two-thirds of the Series B Preferred Shares outstanding at the time, given in
person or by proxy, either in writing or at a meeting (such Series B Preferred
Shares voting separately as a class): (i) authorize or create, or increase the
authorized or issued amount of, any class or series of shares of beneficial
interest ranking senior to the Series B Preferred Shares with respect to
payment of dividends or the distribution of assets upon liquidation,
dissolution or winding-up of the Trust or reclassify any authorized shares of
beneficial interest of the Trust into such shares of beneficial interest, or
create, authorize or issue any obligation or security convertible into or
evidencing the right to purchase any such shares of beneficial interest; or
(ii) amend, alter or repeal the provisions of the Declaration of Trust or these
Articles Supplementary, whether by merger, consolidation, transfer or
conveyance of substantially all of its assets, or otherwise (an “Event”), so as
to materially and adversely affect any right, preference, privilege or voting
power of the Series B Preferred Shares or the holders thereof; provided
however, with respect to the occurrence of any of the Events set forth in (ii)
above, so long as the Series B Preferred Shares remain outstanding with the
terms thereof materially unchanged, or in the case of an Event in which the
Trust is not the surviving entity, the Series B Preferred Shares converted into
or exchanged for shares of the surviving entity, the material terms of which
are substantially the same as the terms of the Series B Preferred Shares, the
occurrence of such Event shall not be deemed to materially and adversely affect
such rights, preferences, privileges or voting power of holders of Series B
Preferred Shares and provided further that (A) any increase in amount of the
authorized Series B Preferred Shares or the creation or issuance of any other
series of Preferred Shares or (B) any increase in the number of authorized
Series B Preferred Shares or any other series of Preferred Shares, in each case
ranking on a parity with or junior to the Series B Preferred Shares of such
series with respect to the payment of dividends or the distribution of assets
upon liquidation, dissolution or winding up, shall not be deemed to materially
and adversely affect such rights, preferences, privileges or voting powers.

     (d)  The foregoing voting provisions of this Article THIRD, Section 5
shall not apply if, at or prior to the time when the act with respect to which
such vote would otherwise be required shall be effected, all outstanding shares
of the Series B Preferred Shares shall have been redeemed or called for
redemption upon proper notice and sufficient funds, in cash, shall have been
deposited in trust to effect such redemption.

     (e)  In any matter in which the Series B Preferred Shares may vote (as
expressly provided herein), each Series B Preferred Share shall be entitled to
one vote, except that when any other series of Preferred Shares of the Trust
shall have

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the right to vote with the Series B Preferred Shares as a single class on any
matter, the Series B Preferred Shares and such other series shall have with
respect to such matters one vote per each $25.00 of stated liquidation
preference.

     6.     Conversion.

     The Series B Preferred Shares shall not be convertible into or
exchangeable for any other property or securities of the Trust.

     7.     Ranking.

     In respect of rights to the payment of dividends and the distribution of
assets in the event of any liquidation, dissolution or winding up of the Trust,
the Series B Preferred Shares shall rank (i) senior to the Trust’s common
shares of beneficial interest and to any other class or series of shares of
beneficial interest of the Trust other than any class or series referred to in
clauses (ii) and (iii) of this sentence, (ii) on a parity with any class or
series of shares of beneficial interest of the Trust the terms of which
specifically provide that such class or series of shares of beneficial interest
ranks on a parity with the Series B Preferred Shares as to the payment of
dividends and the distribution of assets in the event of any liquidation,
dissolution or winding up of the Trust, and (iii) junior to any class or series
of shares of beneficial interest of the Trust, the terms of which specifically
provide that such class or series ranks senior to the Series B Preferred Shares
as to the payment of dividends and the distribution of assets in the event of
any liquidation, dissolution or winding up of the Trust. For avoidance of
doubt, debt securities of the Trust which are convertible into or exchangeable
for shares of beneficial interest of the Trust or any other debt securities of
the Trust shall not constitute a class or series of shares of beneficial
interest of the Trust.

     8.     Exclusion of Other Rights.

     The Series B Preferred Shares shall not have any preferences or other
rights, voting powers, restrictions, limitations as to dividends or other
distributions, qualifications or terms or conditions of redemption other than
expressly set forth in the Declaration of Trust and these Articles
Supplementary.

     9.     Headings of Subdivisions.

     The headings of the various subdivisions hereof are for convenience of
reference only and shall not affect the interpretation of any of the provisions
hereof.

     10.     Severability of Provisions.

     Whenever possible, each provision hereof shall be interpreted in a manner
as to be effective and valid under applicable law, but if any provision hereof
is held to be prohibited by or invalid under applicable law, such provision
shall be ineffective only to the extent that such prohibition or invalidity,
without invalidating or otherwise adversely affecting the remaining portions
hereof. If a court of competent jurisdiction should determine that a provision
hereof would be valid or enforceable if a period of time were extended or
shortened or a particular percentage were increased or decreased, then such
court may make such change as shall be necessary to render the provision in
question effective and valid under applicable law.

     11.     No Preemptive Rights.

     No holder of Series B Preferred Shares shall be entitled to any preemptive
rights to subscribe for or acquire any shares of beneficial interest of the
Trust (whether now or hereafter authorized) or securities of the Trust
convertible into or carrying a right to subscribe to or acquire shares of
beneficial interest of the Trust.

     12. Restriction on Ownership and Transfer.

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     The Series B Preferred Shares are subject to the restrictions on ownership
and transfer set forth in the Declaration of Trust.

     FOURTH: The Series B Preferred Shares have been classified by the Board
of Trustees of the Trust under the authority contained in the Declaration of
Trust.

     FIFTH: These Articles Supplementary have been approved by the Board of
Trustees in a manner and the vote required by law.

     SIXTH: The undersigned officer acknowledges these Articles Supplementary
to be the trust act of the Trust and, as to all matters or facts required to be
verified under oath, the undersigned officer acknowledges that to the best of
his knowledge and information and belief these matters and facts are true in
all material respects, and that the statement is made under penalty for
perjury.

[SIGNATURE PAGE FOLLOWS]

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     IN WITNESS WHEREOF, RAMCO-GERSHENSON PROPERTIES TRUST has caused these
Articles Supplementary to be executed under seal in its name and on its behalf
by its President and attested to by its Secretary this 8th day of November
2002.

	 	 	 	 
	ATTEST:	 	
RAMCO-GERSHENSON PROPERTIES TRUST
	/s/ Richard Gershenson	 	/s/ Dennis
Gershenson
	(seal)
	
	 	

	Name: Richard Gershenson

Title: Secretary	 	
Name: Dennis Gershenson

Title: President

9exv4w2

 

Exhibit 4.2

FORM OF STOCK CERTIFICATE

9.5% SERIES B CUMULATIVE REDEEMABLE PREFERRED STOCK

PAR VALUE $.01 PER SHARE

LIQUIDATION PREFERENCE $25.00 PER SHARE

[LOGO OF RAMCO-GERSHENSON PROPERTIES TRUST]

CERTIFICATE OF 9.5% SERIES B

CUMULATIVE REDEEMABLE PREFERRED

SHARES OF BENEFICIAL INTEREST

CUSIP # 751452 40 0

SHARES
 

A REAL ESTATE INVESTMENT TRUST

FORMED UNDER THE LAWS OF THE

STATE OF MARYLAND
 

SEE REVERSE FOR IMPORTANT

NOTICE ON TRANSFER RESTRICTIONS

AND OTHER INFORMATION

This certificate is transferable

in New York, N.Y.

THIS CERTIFIES THAT [SPECIMEN]

is the registered holder of          
           

fully paid and non-assessable 9.5% Series B Cumulative Redeemable Preferred
Shares of Beneficial Interest of the par value of $.01 per share of
RAMCO-GERSHENSON PROPERTIES TRUST issued under an Amended and Restated
Declaration of Trust dated as of October 2, 1997, as such Declaration of Trust
may be amended from time to time (the “Declaration of Trust”) a copy of which
is on file with the Department of Assessments and Taxation. The provisions of
such Declaration of Trust are hereby incorporated by reference as fully as if
set forth herein in their entirety, to all of which provisions the holder
hereof by the acceptance hereof agrees. This Certificate is issued by the
Trustees of RAMCO-GERSHENSON PROPERTIES TRUST (the “Trust”) and is not valid
until countersigned by the Transfer Agent and Registrar.

WITNESS the facsimile seal of the Trust and the facsimile signatures of its
duly authorized officers.

DATED:

COUNTERSIGNED AND REGISTERED:

American Stock Transfer & Trust Company

       (New York, N.Y.)

	 	Transfer Agent

and Registrar

	 	 	 	 	 	 	 
	By	 	 	 	
	 	

	 	 	
Authorized Signature
	 	Secretary
	 	President

[FORM OF REVERSE OF CERTIFICATE]

CLASSES OF STOCK

     THE TRUST IS AUTHORIZED TO ISSUE CAPITAL STOCK OF MORE THAN ONE CLASS,
CONSISTING OF COMMON SHARES AND ONE OR MORE CLASSES OF PREFERRED SHARES. THE
BOARD OF TRUSTEES IS AUTHORIZED TO DETERMINE THE PREFERENCES, LIMITATIONS AND
RELATIVE RIGHTS OF ANY CLASS OF PREFERRED SHARES BEFORE THE ISSUANCE OF SHARES
OF SUCH CLASS OF PREFERRED SHARES. THE TRUST WILL FURNISH, WITHOUT CHARGE, TO
ANY SHAREHOLDER MAKING A WRITTEN REQUEST THEREFORE, A COPY OF THE TRUST’S
DECLARATION OF TRUST AND A WRITTEN STATEMENT OF THE DESIGNATIONS, RELATIVE
RIGHTS, PREFERENCES, CONVERSION OR OTHER RIGHTS, VOTING POWERS, RESTRICTIONS,
LIMITATIONS AS TO DIVIDENDS AND OTHER DISTRIBUTIONS, QUALIFICATIONS AND TERMS
AND CONDITIONS OF REDEMPTION OF THE SHARES OF EACH CLASS WHICH THE TRUST HAS
THE AUTHORITY TO ISSUE AND, IF THE TRUST IS AUTHORIZED TO ISSUE

 

 

ANY PREFERRED OR SPECIAL CLASS IN SERIES (i) THE DIFFERENCES IN THE RELATIVE
RIGHTS AND PREFERENCES BETWEEN THE SHARES OF EACH SERIES TO THE EXTENT SET, AND
(ii) THE AUTHORITY OF THE BOARD OF TRUSTEES TO SET SUCH RIGHTS AND PREFERENCES
OF SUBSEQUENT SERIES. REQUESTS FOR SUCH WRITTEN STATEMENT MAY BE DIRECTED TO
THE SECRETARY OF THE TRUST AT ITS PRINCIPAL OFFICE.

RESTRICTIONS ON OWNERSHIP AND TRANSFER

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON
BENEFICIAL AND CONSTRUCTIVE OWNERSHIP AND TRANSFER FOR THE PURPOSE OF THE
TRUST’S MAINTENANCE OF ITS STATUS AS A REAL ESTATE INVESTMENT TRUST (A “REIT”)
UNDER THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”). SUBJECT TO
CERTAIN FURTHER RESTRICTIONS AND EXCEPT AS EXPRESSLY PROVIDED IN THE TRUST’S
DECLARATION OF TRUST, (i) NO PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN
COMMON SHARES OF THE TRUST IN EXCESS OF 9.8 PERCENT (IN VALUE OR NUMBER OF
SHARES) OF THE OUTSTANDING COMMON SHARES OF THE TRUST UNLESS SUCH PERSON IS AN
EXCEPTED HOLDER (IN WHICH CASE THE EXCEPTED HOLDER LIMIT SHALL BE APPLICABLE);
(ii) NO PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN ANY CLASS OR SERIES OF
PREFERRED SHARES OF THE TRUST IN EXCESS OF 9.8 PERCENT (IN VALUE OR NUMBER OF
SHARES) OF THE OUTSTANDING SHARES OF SUCH CLASS OR SERIES OF PREFERRED SHARES
OF THE TRUST, UNLESS SUCH PERSON IS AN EXCEPTED HOLDER (IN WHICH CASE THE
EXCEPTED HOLDER LIMIT SHALL BE APPLICABLE), (iii) NO PERSON MAY BENEFICIALLY OR
CONSTRUCTIVELY OWN SHARES THAT WOULD RESULT IN THE TRUST BEING “CLOSELY HELD”
UNDER SECTION 856(h) OF THE CODE OR OTHERWISE CAUSE THE TRUST TO FAIL TO
QUALIFY AS A REIT; AND (iv) NO PERSON MAY TRANSFER SHARES IF SUCH TRANSFER
WOULD RESULT IN SHARES OF THE TRUST BEING OWNED BY FEWER THAN 100 PERSONS. ANY
PERSON WHO BENEFICIALLY OR CONSTRUCTIVELY OWNS OR ATTEMPTS TO BENEFICIALLY OR
CONSTRUCTIVELY OWN SHARES WHICH CAUSE OR WILL CAUSE A PERSON TO BENEFICIALLY OR
CONSTRUCTIVELY OWN SHARES IN EXCESS OR IN VIOLATION OF THE ABOVE LIMITATIONS
MUST IMMEDIATELY NOTIFY THE TRUST. IF ANY OF THE RESTRICTIONS ON TRANSFER OR
OWNERSHIP ARE VIOLATED, THE SHARES REPRESENTED HEREBY WILL BE AUTOMATICALLY
TRANSFERRED TO A CHARITABLE TRUSTEE OF A CHARITABLE TRUST FOR THE BENEFIT OF
ONE OR MORE CHARITABLE BENEFICIARIES. IN ADDITION, UPON THE OCCURRENCE OF
CERTAIN EVENTS, ATTEMPTED TRANSFERS IN VIOLATION OF THE RESTRICTIONS DESCRIBED
ABOVE MAY BE VOID AB INITIO. ALL CAPITALIZED TERMS IN THIS LEGEND HAVE THE
MEANINGS DEFINED IN THE TRUST’S DECLARATION OF TRUST, AS THE SAME MAY BE
AMENDED FROM TIME TO TIME, A COPY OF WHICH, INCLUDING THE RESTRICTIONS ON
TRANSFER AND OWNERSHIP, WILL BE FURNISHED TO EACH HOLDER OF SHARES OF THE TRUST
ON REQUEST AND WITHOUT A CHARGE.

	
	 
	     The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

	 	 	 	 	 
	TEN COM— as tenants in common	 	
UNIF GIFT MIN ACT	 	 
	TEN ENT— as tenants by the entireties	 	 	

	JT TEN — as joint tenants with right of survivorship and not	 	 	(Cust.)	 (Minor)
	       as tenants in common	 	 	
		 	 	under Uniform Gifts to Minors Act
	 	 	 	

	 	 	 	(State)

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

For Value Received,
               
hereby sell(s), assign(s) and transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE.

                     9.5% Series B Cumulative Redeemable Preferred Shares
of Beneficial Interest represented by the within Certificate, and do
hereby irrevocably constitute and appoint
             
            
            
            
            
            
            
Attorney to transfer the said shares on the books of the within-named Trust with full
power of substitution in the premises.

 

 

	 	 	 	 	 
	Dated	
	 	 	 
	 	 	
(Sign here)	 	 
	 	 	 	

	 	 	
NOTICE:
	 	THE SIGNATURE TO THIS ASSIGNMENT MUST
CORRESPOND WITH THE NAME AS WRITTEN
UPON THE FACE OF THE
CERTIFICATE IN
EVERY PARTICULAR WITHOUT
ALTERATION
OR ENLARGEMENT OR ANY CHANGE
WHATEVER.

SIGNATURE(S) GUARANTEED:

	

THE SIGNATURE(S) SHOULD 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.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}]]