Document:

EXHIBIT 4.3

 REGISTRATION RIGHTS AGREEMENT

               THIS
REGISTRATION RIGHTS AGREEMENT (the "Agreement") is made and entered into as of
August 16, 2000 between CHELSEA GCA REALTY PARTNERSHIP, L.P., a Delaware limited
partnership (the "Operating Partnership") and the Initial Purchasers (as
hereinafter defined).

               This
Agreement is made pursuant to the Purchase Agreement dated August 10, 2000 (the
"Purchase Agreement"), between the Operating Partnership, as issuer of
the 8 3/8% Notes due 2005 (the "2005 Notes") and the 8 5/8% Notes due 2009 (the "2009
Notes", and together with the 2005 Notes, the "Notes"), and the Initial
Purchasers, which provides for, among other things, the sale by the Operating
Partnership to the Initial Purchasers of the aggregate principal amount of Notes
specified therein. In order to induce the Initial Purchasers to enter into the
Purchase Agreement, the Operating Partnership has agreed to provide to the
Initial Purchasers and their direct and indirect transferees the registration
rights set forth in this Agreement. The execution and delivery of this Agreement
is a condition to the closing under the Purchase Agreement. 

               In
consideration of the foregoing, the parties hereto agree as follows:

               1.   Definitions.
As used in this Agreement, the following capitalized defined terms shall have
the following meanings: 

          "Advice"
shall have the meaning set forth in the last paragraph of Section 3 hereof.

          "Affiliate"
has the same meaning as given to that term in Rule 405 under the Securities Act
or any successor rule thereunder.

          "Applicable
Period" shall have the meaning set forth in Section 3(u) hereof.

          "Business
Day" means any day other than a Saturday, a Sunday, or a day on which
banking institutions in New York, New York or Boston, Massachusetts are
authorized or required by law or executive order to remain closed.

          "Closing
Time" shall mean the Closing Time as defined in the Purchase Agreement.

          "Company"
shall mean Chelsea GCA Realty, Inc., a Maryland corporation. 

          "Depositary"
shall mean The Depository Trust Company, or any other depositary appointed by
the Operating Partnership; provided, however, that such depositary
must have an address in the Borough of Manhattan, in The City of New York.

          "Effectiveness
Period" shall have the meaning set forth in Section 2(b) hereof.

          "Exchange
Act" shall mean the Securities Exchange Act of 1934, as amended from time
to time.

          "Exchange
Offer" shall mean the offer by the Operating Partnership to the Holders to
exchange all of the Registrable Notes for a like amount of Exchange Notes of the
same series pursuant to Section 2(a) hereof.

          "Exchange
Offer Registration" shall mean a registration under the Securities Act
effected pursuant to Section 2(a) hereof. 

          "Exchange
Offer Registration Statement" shall mean an exchange offer registration
statement on Form S-4 (or, if applicable, on another appropriate form), and all
amendments and supplements to such registration statement, in each case
including the Prospectus contained therein, all exhibits thereto and all
documents incorporated by reference therein.

          "Exchange
Period" shall have the meaning set forth in Section 2(a) hereof.

          "Exchange
Notes" shall mean the 8 3/8% Notes due 2005 and the 8 5/8% Notes due 2009
containing terms identical to the Notes (except that they will not contain terms
with respect to the transfer restrictions under the Securities Act and will not
provide for any Penalty Interest thereon).

          "Holder" shall
mean any Initial Purchaser, for so long as it owns any Registrable Notes, and
each of its respective successors, assigns and direct and indirect transferees
who become registered owners of Registrable Notes under the Indenture.

          "Indenture"
shall mean the Indenture, dated as of January 23, 1996, as amended or
supplemented to the date hereof, among the Company, the Operating Partnership,
as issuer, and State Street Bank and Trust Company, as trustee, as the same may
be further amended or supplemented from time to time in accordance with the
terms thereof. 

          "Initial
Purchasers" shall mean Merrill Lynch, Pierce, Fenner & Smith
Incorporated ("Merrill Lynch"), Goldman, Sachs & Co.
("Goldman Sachs") and Banc of America Securities LLP ("Banc of
America"). 

          "Inspectors"
shall have the meaning set forth in Section 3(o) hereof. 

          "Issue
Date" shall mean August 16, 2000, the date of delivery of the Notes from the
Operating Partnership to the Initial Purchasers. 

          " Majority
Holders" shall mean the Holders of a majority of the aggregate principal
amount of outstanding Notes and Exchange Notes of the same series. 

          "Notes"
shall have the meaning set forth in the preamble to this Agreement.

          "Participating
Broker-Dealer" shall have the meaning set forth in Section 3(u) hereof.

          "Penalty
Interest" shall have the meaning set forth in Section 2(e) hereof.

          "Person"
shall mean an individual, partnership, corporation, trust or unincorporated
organization, limited liability company, or a government or agency or political
subdivision thereof. 

          "Prospectus"
shall mean the prospectus included in a Registration Statement, including any
preliminary prospectus, and any such prospectus as amended or supplemented by
any prospectus supplement, including a prospectus supplement with respect to the
terms of the offering of any portion of the Registrable Notes covered by a
Shelf Registration Statement, and by all other amendments and supplements to a
prospectus, including post-effective amendments, and in each case including all
documents incorporated by reference therein. 

          "Purchase
Agreement" shall have the meaning set forth in the preamble to this Agreement.

          "Records"
shall have the meaning set forth in Section 3(o) hereof.

          "Registrable
Notes" shall mean the Notes; provided, however, that Notes shall
cease to be Registrable Notes when the earlier of the following occurs: (i) a
Registration Statement with respect to such Notes for the exchange or resale
thereof shall have been declared effective under the Securities Act and such
Notes shall have been disposed of pursuant to such Registration Statement, (ii)
such Notes shall have been sold to the public pursuant to Rule 144(k) (or any
similar provision then in force, but not Rule 144A) under the Securities Act or
are eligible to be sold without restriction as contemplated by Rule 144(k), (iii)
such Notes shall have ceased to be outstanding or (iv) no Shelf Registration
Event has occurred and the Exchange Offer has concluded in accordance with the
provisions hereof. 

          "Registration
Expenses" shall mean any and all expenses incident to performance of or
compliance by the Operating Partnership with this Agreement, including without
limitation: (i) all SEC or National Association of Securities Dealers, Inc. (the
"NASD") registration and filing fees, including, if applicable, the fees
and expenses of any "qualified independent underwriter" (and its
counsel) that is required to be retained by any Holder of Registrable Notes in
accordance with the rules and regulations of the NASD, (ii) all fees and
expenses incurred in connection with compliance with state securities or blue
sky laws (including reasonable fees and disbursements of one counsel for all
underwriters or Holders as a group in connection with blue sky qualification of
any of the Exchange Notes or Registrable Notes) and compliance with the rules of
the NASD, (iii) all expenses of any Persons in preparing or assisting in
preparing, word processing, printing and distributing any Registration
Statement, any Prospectus and any amendments or supplements thereto, and in
preparing or assisting in preparing, printing and distributing any underwriting
agreements, securities sales agreements and other documents relating to the
performance of and compliance with this Agreement, (iv) all rating agency fees,
(v) the fees and disbursements of counsel for the Operating Partnership and of
the independent certified public accountants of the Operating Partnership,
including the expenses of any "cold comfort" letters required by or incident to
the performance of and compliance with this Agreement, (vi) the reasonable fees
and expenses of the Trustee and its counsel and any exchange agent or custodian,
and (vii) the reasonable fees and expenses of any special experts retained by
the Operating Partnership in connection with any Registration Statement. 

          "Registration
Statement" shall mean any registration statement of the Operating
Partnership which covers any of the Exchange Notes or Registrable Notes pursuant
to the provisions of this Agreement, and all amendments and supplements to any
such Registration Statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and all
documents incorporated by reference therein. 

          "Rule 144(k)
Period" shall mean the period of two years (or such shorter period as may
hereafter be referred to in Rule 144(k) under the Securities Act (or similar
successor rule)) commencing on the Issue Date. 

          "SEC"
shall mean the Securities and Exchange Commission.

          "Securities
Act" shall mean the Securities Act of 1933, as amended from time to time.

          "Shelf
Registration" shall mean a registration effected pursuant to Section 2(b)
hereof. 

          "Shelf
Registration Event" shall have the meaning set forth in Section 2(b) hereof.

          "Shelf
Registration Event Date" shall have the meaning set forth in Section 2(b)
hereof. 

          "Shelf
Registration Statement" shall mean a "shelf" registration
statement of the Operating Partnership pursuant to the provisions of Section
2(b) hereof which covers all of the Registrable Notes on an appropriate form
under Rule 415 under the Securities Act, or any similar rule that may be adopted
by the SEC, and all amendments and supplements to such registration statement,
including post-effective amendments, in each case including the Prospectus
contained therein, all exhibits thereto and all documents incorporated by
reference therein. 

          "TIA"
shall have the meaning set forth in Section 3(l) hereof.

          "Trustee"
shall mean the trustee under the Indenture.

               2.
     Registration Under the Securities Act.

          (a)Exchange
Offer. Except as set forth in Section 2(b) below, the Operating Partnership
shall, for the benefit of the Holders, at the Operating Partnership's cost, use
its reasonable best efforts to (i) cause to be filed with the SEC within 120
calendar days after the Issue Date an Exchange Offer Registration Statement on
an appropriate form under the Securities Act relating to the Exchange Offer,
(ii) cause such Exchange Offer Registration Statement to be declared effective
under the Securities Act by the SEC not later than the date which is 165
calendar days after the Issue Date, (iii) keep such Exchange Offer Registration
Statement effective for not less than 30 calendar days (or longer if required by
applicable law) after the date notice of the Exchange Offer is mailed to the
Holders and (iv) cause the Exchange Offer to be consummated within 195
calendar days after the Issue Date. Promptly after the effectiveness of the
Exchange Offer Registration Statement, the Operating Partnership shall
commence the Exchange Offer, it being the objective of such Exchange Offer to
enable each Holder eligible and electing to exchange Registrable Notes for a
like principal amount of Exchange Notes of the same series (provided that such
Holder (i) is not an Affiliate of the Operating Partnership, (ii) is not a
broker-dealer tendering Registrable Notes acquired directly from the Operating
Partnership, (iii) acquires the Exchange Notes in the ordinary course of such
Holder's business and (iv) has no arrangements or understandings with any Person
to participate in the Exchange Offer for the purpose of distributing the
Exchange Notes) to transfer such Exchange Notes from and after their receipt
without any limitations or restrictions under the Securities Act and under state
securities or blue sky laws.

             
  In
connection with the Exchange Offer, the Operating Partnership shall:

          (i)   
mail to each Holder a copy of the Prospectus forming part of the Exchange Offer
Registration Statement, together with an appropriate letter of transmittal and
related documents; 

          (ii)   
keep the Exchange Offer open for acceptance for a period of not less than 30
days after the date notice thereof is mailed to the Holders (or longer if
required by applicable law) (such period referred to herein as the "Exchange
Period");

          (iii)   
utilize the services of the Depositary for the Exchange Offer with respect to
Notes represented by a global certificate;

          (iv)   
permit Holders to withdraw tendered Notes at any time prior to 5:00 p.m., New
York City time, on the last Business Day of the Exchange Period, by sending to
the institution specified in the notice to Holders, a telegram, telex, facsimile
transmission or letter setting forth the name of such Holder, the series and
amount of Notes delivered for exchange, and a statement that such Holder is
withdrawing his election to have such Notes exchanged; 

          (v)   
notify each Holder that any Note not tendered by such Holder in the Exchange
Offer will remain outstanding and continue to accrue interest but will not
retain any rights under this Agreement (except in the case of the Initial
Purchasers and Participating Broker-Dealers as provided herein); and 

          (vi)   
otherwise comply in all respects with all applicable laws relating to the
Exchange Offer.

               As
soon as practicable after the close of the Exchange Offer, the Operating Partnership
shall:

          (i)   
accept for exchange all Notes or portions thereof tendered and not validly
withdrawn pursuant to the Exchange Offer in accordance with the terms of the
Exchange Offer Registration Statement and the letters of transmittal which shall
be an exhibit thereto; 

          (ii)   
deliver, or cause to be delivered, to the Trustee for cancellation all Notes or
portions thereof so accepted for exchange by the Operating Partnership; and

          (iii)   
issue, and cause the Trustee under the Indenture to promptly authenticate and
deliver to each Holder, Exchange Notes of the same series equal in principal
amount to the principal amount of the Notes as are surrendered by such Holder.

            
   Interest
on each Exchange Note issued pursuant to the Exchange Offer will accrue from the
last date on which interest was paid on the Note surrendered in exchange
therefor or, if no interest has been paid on such Note, from the Issue Date. To
the extent not prohibited by any law or applicable interpretation of the staff
of the SEC, the Operating Partnership shall use reasonable best efforts to
complete the Exchange Offer as provided above, and shall comply with the
applicable requirements of the Securities Act, the Exchange Act and other
applicable laws in connection with the Exchange Offer. The Exchange Offer shall
not be subject to any conditions other than the conditions referred to in
Section 2(b)(i) and (ii) below and those conditions that are customary in
similar exchange offers. Each Holder of Registrable Notes who wishes to exchange
such Registrable Notes for Exchange Notes in the Exchange Offer will be required
to make certain customary representations in connection therewith, including, in
the case of any Holder of Notes, representations that (i) it is not an Affiliate
of the Operating Partnership, (ii) it is not a broker-dealer tendering
Registrable Notes acquired directly from the Operating Partnership, (iii) the
Exchange Notes to be received by it are being acquired in the ordinary course of
its business and (iv) at the time of the Exchange Offer, it has no arrangements
or understandings with any Person to participate in the distribution (within the
meaning of the Securities Act) of the Exchange Notes. The Operating Partnership
shall inform the Initial Purchasers, after consultation with the Trustee, of the
names and addresses of the Holders to whom the Exchange Offer is made, and the
Initial Purchasers shall have the right to contact such Holders in order to
facilitate the tender of Registrable Notes in the Exchange Offer. 

               Upon
consummation of the Exchange Offer in accordance with this Section 2(a), the
provisions of this Agreement shall continue to apply,
mutatis mutandis, solely with respect to Exchange Notes held by Initial
Purchasers and Participating Broker-Dealers, and the Operating Partnership shall
have no further obligation to register the Registrable Notes held by any Holder
pursuant to Section 2(b) of this Agreement. 

               (b)
Shelf Registration.  In the event that (i) the Operating Partnership
reasonably determines, after conferring with counsel (which may be in-house
counsel), that the Exchange Offer Registration provided in Section 2(a) above is
not available under applicable law and regulations and currently prevailing
interpretations of the staff of the SEC, (ii) the Exchange Offer is not
consummated within 195 days after the Issue Date or (iii) upon the request of
any Initial Purchaser with respect to any Registrable Notes held by it, if such
Initial Purchaser is not permitted, in the reasonable opinion of Brown &
Wood LLP, pursuant to applicable law or applicable interpretations of the staff
of the SEC, to participate in the Exchange Offer and thereby receive securities
that are freely tradeable without restriction under the Securities Act and
applicable blue sky or state securities laws (any of the events specified in
(i), (ii) or (iii) being a "Shelf Registration Event", and the
date of occurrence thereof, the "Shelf Registration Event
Date"), then in addition to or in lieu of conducting the Exchange Offer
contemplated by Section 2(a), as the case may be, the Operating Partnership
shall promptly notify the Holders thereof and shall, at its cost, use its
reasonable best efforts to cause to be filed as promptly as practicable after
such Shelf Registration Event Date, as the case may be, a Shelf Registration
Statement providing for the sale by the Holders of all of the Registrable Notes,
and shall use its reasonable best efforts to have such Shelf Registration
Statement declared effective by the SEC as soon as practicable. No Holder of
Registrable Notes shall be entitled to include any of its Registrable Notes in
any Shelf Registration pursuant to this Agreement unless and until such Holder
agrees in writing to be bound by all of the provisions of this Agreement
applicable to such Holder and furnishes to the Operating Partnership in writing,
within 15 days after receipt of a request therefor, such information as the
Operating Partnership may, after conferring with counsel with regard to
information relating to Holders that would be required by the SEC to be included
in such Shelf Registration Statement or Prospectus included therein, reasonably
request for inclusion in any Shelf Registration Statement or Prospectus included
therein. Each Holder as to which any Shelf Registration is being effected agrees
to furnish to the Operating Partnership all information with respect to such
Holder necessary to make the information previously furnished to the Operating
Partnership by such Holder not materially misleading. 

               
The Operating Partnership agrees to use its reasonable best efforts to keep the
Shelf Registration Statement continuously effective and the Prospectus usable
for resales for the earlier of: (a) the Rule 144(k) Period or (b) such time as
all of the Securities covered by the Shelf Registration Statement have been sold
pursuant to the Shelf Registration Statement or cease to be Registrable Notes
(the "Effectiveness Period"). The Operating Partnership shall
not permit any securities other than (i) the Operating Partnership’s issued
and outstanding securities currently possessing incidental registration rights
and (ii) Registrable Notes, to be included in the Shelf Registration. The
Operating Partnership will, in the event a Shelf Registration Statement is
declared effective, provide to each Holder a reasonable number of copies of the
Prospectus which is a part of the Shelf Registration Statement, notify each such
Holder when the Shelf Registration has become effective and take any other
action required to permit unrestricted resales of the Registrable Notes. The
Operating Partnership further agrees, if necessary, to supplement or amend the
Shelf Registration Statement, if required by the rules, regulations or
instructions applicable to the registration form used by the Operating
Partnership for such Shelf Registration Statement or by the Securities Act or by
any other rules and regulations thereunder for shelf registrations, and the
Operating Partnership agrees to furnish to the Holders of Registrable Notes
copies of any such supplement or amendment promptly after its being used or
filed with the SEC.

               
(c) Expenses.  The Operating Partnership shall pay all Registration
Expenses in connection with any Registration Statement filed pursuant to Section
2(a) and/or 2(b) hereof and will reimburse the Initial Purchasers for the
reasonable fees and disbursements of Brown & Wood LLP incurred in connection
with the Exchange Offer. Except as provided herein, each Holder shall pay all
expenses of its counsel, underwriting discounts and commissions and transfer
taxes, if any, relating to the sale or disposition of such Holder’s
Registrable Notes pursuant to the Shelf Registration Statement. 

               
(d) Effective Registration Statement.  An Exchange Offer
Registration Statement pursuant to Section 2(a) hereof or a Shelf Registration
Statement pursuant to Section 2(b) hereof will not be deemed to have become
effective unless it has been declared effective by the SEC; provided,
however, that if, after it has been declared effective, the offering of
Registrable Notes pursuant to such Exchange Offer Registration Statement or
Shelf Registration Statement is interfered with by any stop order, injunction or
other order or requirement of the SEC or any other governmental agency or court,
such Exchange Offer Registration Statement or Shelf Registration Statement will
be deemed not to have been effective during the period of such interference,
until the offering of Registrable Notes pursuant to such Registration Statement
may legally resume. The Operating Partnership will be deemed not to have used
its reasonable best efforts to cause the Exchange Offer Registration Statement
or the Shelf Registration Statement, as the case may be, to become, or to
remain, effective during the requisite period if it voluntarily takes any action
that would result in any such Registration Statement not being declared
effective or that would result in the Holders of Registrable Notes covered
thereby not being able to exchange or offer and sell such Registrable Notes
during that period, unless such action is required by applicable law. 

               
(e) Penalty Interest. In the event that:

               
     (i)    the Exchange Offer
Registration Statement is not filed with the SEC on or prior to the
120th  day after the Issue Date, then, commencing
on the 121st day after the Issue Date, penalty interest ("Penalty
Interest") shall accrue on the principal amount of the Notes at a rate of
0.25% per annum; 

               
     (ii)    the Exchange Offer
Registration Statement is not declared effective by the SEC on or prior to the
165th  day after the Issue Date, then, commencing
on the 166th  day after the Issue Date, Penalty Interest shall accrue on the
principal amount of the Notes at a rate of 0.25% per annum; 

               
     (iii)    (A) the Operating
Partnership has not exchanged Exchange Notes for all Notes, validly tendered in
accordance with the terms of the Exchange Offer on or prior to the
195th  day after the Issue Date or (B) if the
Shelf Registration Statement is required to be filed pursuant to Section 2(b)
but is not declared effective by the SEC on or prior to the 180th  day after the Issue Date, then, commencing on (x) the
196th  day after the Issue Date with respect to
(A) above and (y) the 181st  day after the Issue
Date with respect to (B) above, Penalty Interest shall accrue on the principal
amount of the Notes at the rate of 0.25% per annum; or 

               
     (iv)    the Shelf Registration
Statement has been declared effective and such Shelf Registration Statement
ceases to be effective or the Prospectus usable for resales (I) at any time
prior to the expiration of the Effectiveness Period or (II) if related to
corporate developments, public filings or similar events or to correct a
material misstatement or omission in the Prospectus, for more than 60 days
(whether or not consecutive) in any twelve-month period, then Penalty Interest
shall accrue on the principal amount of Notes at a rate of 0.25% per annum
commencing on the 61st  day after such Shelf Registration Statement ceases
to be effective or the Prospectus usable for resales; 

provided however, that the Penalty Interest rate on the
Notes may not exceed in the aggregate 0.25% per annum; provided,
further,
 however, that (1) upon the filing of the Exchange Offer Registration
Statement (in the case of clause (i) above), (2) upon the effectiveness of the
Exchange Offer Registration Statement (in the case of clause (ii) above), (3)
upon the exchange of Exchange Notes for all Notes validly tendered (in the case
of clause (iii)(A) above) or upon the effectiveness of the Shelf Registration
Statement (in the case of clause (iii) (B) above) or (4) the earlier of (y) such
time as the Shelf Registration Statement which had ceased to remain effective or
the Prospectus usable for resales again becomes effective and usable for resales
and (z) the expiration of the Effectiveness Period (in the case of clause (iv)
above), Penalty Interest on the principal amount of the Notes as a result of
such clause (or the relevant subclause thereof) shall cease to accrue; 

provided, further, however, that if the Exchange Offer
Registration Statement is not declared effective by the SEC on or prior to the
165th  day after the Issue Date and the Operating
Partnership shall request Holders to provide the information required by the SEC
for inclusion in the Shelf Registration Statement, the Notes owned by Holders
who do not provide such information when required pursuant to Section 2(b) will
not be entitled to any Penalty Interest following the 180th
 day after the Issue Date. 

          Any amounts of
Penalty Interest due pursuant to Section 2(e)(i), (ii), (iii) or (iv) above will
be payable in cash on the next succeeding August 17 or February 17, as the case
may be, to Holders on the relevant record dates for the payment of interest
pursuant to the Indenture.

               
(f) Specific Enforcement.  Without limiting the remedies available to the
Holders, the Operating Partnership acknowledges that any failure by the
Operating Partnership to comply with its obligations under Section 2(a) and
Section 2(b) hereof may result in material irreparable injury to the Holders for
which there is no adequate remedy at law, that it would not be possible to
measure damages for such injuries precisely and that, in the event of any such
failure, any Holder may obtain such relief as may be required to specifically
enforce the Operating Partnership’s obligations under Section 2(a) and
Section 2(b) hereof. 

               
3.     Registration Procedures. In connection
with the obligations of the Operating Partnership with respect to the
Registration Statements pursuant to Sections 2(a) and 2(b) hereof, the
Operating Partnership shall use its reasonable best efforts to:

	 	(a) prepare and file with the SEC a Registration Statement or
Registration Statements as prescribed by Sections 2(a) and 2(b) hereof within
the relevant time period specified in Section 2 hereof on the appropriate form
under the Securities Act, which form shall (i) be selected by the Operating
Partnership, (ii) in the case of a Shelf Registration, be available for the sale
of the Registrable Notes by the selling Holders thereof and, in the case of an
Exchange Offer, be available for the exchange of Registrable Notes, and (iii)
comply as to form in all material respects with the requirements of the
applicable form and include or incorporate by reference all financial statements
required by the SEC to be filed therewith or incorporated by reference therein;
the Operating Partnership shall use its reasonable best efforts to cause such
Registration Statement to become effective and remain effective (and, in the
case of a Shelf Registration Statement, the Prospectus usable for resales) in
accordance with Section 2 hereof; provided, however, that if (1) such
filing is pursuant to Section 2(b), or (2) a Prospectus contained in an Exchange
Offer Registration Statement filed pursuant to Section 2(a) is required to be
delivered under the Securities Act by any Participating Broker-Dealer who seeks
to sell Exchange Notes, before filing any Registration Statement or Prospectus
or any amendments or supplements thereto, the Operating Partnership shall
furnish to and afford the Holders of the Registrable Notes and each such
Participating Broker-Dealer, as the case may be, covered by such Registration
Statement, their counsel and the managing underwriters, if any, a reasonable
opportunity to review copies of all such documents (including copies of any
documents to be incorporated by reference therein and all exhibits thereto)
proposed to be filed; and the Operating Partnership shall not file any
Registration Statement or Prospectus or any amendments or supplements thereto in
respect of which the Holders must be afforded an opportunity to review prior to
the filing of such document if the Majority Holders or such Participating
Broker-Dealer, as the case may be, their counsel or the managing underwriters,
if any, shall reasonably object in a timely manner;

	 	(b) prepare and file with the SEC such amendments and
post-effective amendments to each Registration Statement as may be necessary to
keep such Registration Statement effective for the Effectiveness Period or the
Applicable Period, as the case may be, and cause each Prospectus to be
supplemented, if so determined by the Operating Partnership or requested by the
SEC, by any required prospectus supplement and as so supplemented to be filed
pursuant to Rule 424 (or any similar provision then in force) under the
Securities Act, and comply with the provisions of the Securities Act, the
Exchange Act and the rules and regulations promulgated thereunder applicable to
it with respect to the disposition of all securities covered by each
Registration Statement during the Effectiveness Period or the Applicable Period,
as the case may be, in accordance with the intended method or methods of
distribution by the selling Holders thereof described in this Agreement
(including sales by any Participating Broker-Dealer);

	 	
(c) in the case of a Shelf Registration, (i) notify each Holder
of Registrable Notes included in the Shelf Registration Statement, at least
three Business Days prior to filing, that a Shelf Registration Statement with
respect to the Registrable Notes is being filed and advising such Holder that
the distribution of Registrable Notes will be made in accordance with the method
selected by the Majority Holders, (ii) furnish to each Holder of Registrable
Notes included in the Shelf Registration Statement and to each underwriter of an
underwritten offering of Registrable Notes, if any, without charge, as many
copies of each Prospectus, including each preliminary prospectus, and any
amendment or supplement thereto, and such other documents as such Holder or
underwriter may reasonably request, in order to facilitate the public sale or
other disposition of the Registrable Notes and (iii) consent to the use of the
Prospectus or any amendment or supplement thereto by each of the selling Holders
of Registrable Notes included in the Shelf Registration Statement in connection
with the offering and sale of the Registrable Notes covered by the Prospectus or
any amendment or supplement thereto;

	 	
(d) in the case of a Shelf Registration, register or qualify the
Registrable Notes under all applicable state securities or "blue sky"
laws of such jurisdictions by the time the applicable Registration Statement is
declared effective by the SEC as any Holder of Registrable Notes covered by a
Registration Statement and each underwriter of an underwritten offering of
Registrable Notes shall reasonably request in writing in advance of such date of
effectiveness, and do any and all other acts and things which may be reasonably
necessary or advisable to enable such Holder and underwriter to consummate the
disposition in each such jurisdiction of such Registrable Notes owned by such
Holder; provided, however, that the Operating Partnership shall not be
required to (i) qualify as a foreign corporation or as a dealer in
securities In any jurisdiction where it would not otherwise be required to
qualify but for this Section 3(d), (ii) file any general consent to service of
process in any jurisdiction where it would not otherwise be subject to such
service of process or (iii) subject itself to taxation in any such jurisdiction
if it is not then so subject;

	 	(e) (1) in the case of a Shelf Registration or (2) if
Participating Broker-Dealers from whom the Operating Partnership has received
prior written notice that they will be utilizing the Prospectus contained in the
Exchange Offer Registration Statement as provided in Section 3(u) hereof, are
seeking to sell Exchange Notes and are required to deliver Prospectuses,
promptly notify each Holder of Registrable Notes, or such Participating
Broker-Dealers, as the case may be, their counsel and the managing underwriters,
if any, and promptly confirm such notice in writing (i) when a Registration
Statement has become effective and when any post-effective amendments thereto
become effective, (ii) of any request by the SEC or any state securities
authority for amendments and supplements to a Registration Statement or
Prospectus or for additional information after the Registration Statement has
become effective, (iii) of the issuance by the SEC or any state securities
authority of any stop order suspending the effectiveness of a Registration
Statement or the qualification of the Registrable Notes or the Exchange Notes to
be offered or sold by any Participating Broker-Dealer in any jurisdiction
described in Section 3(d) hereof or the initiation of any proceedings for that
purpose, (iv) in the case of a Shelf Registration, if, between the effective
date of a Registration Statement and the closing of any sale of Registrable
Notes covered thereby, the representations and warranties of the Company or
Operating Partnership contained in any purchase agreement, securities sales
agreement or other similar agreement cease to be true and correct in all
material respects, (v) of the happening of any event or the failure of any event
to occur or the discovery of any facts, during the Effectiveness Period, which
makes any statement made in such Registration Statement or the related
Prospectus untrue in any material respect or which causes such Registration
Statement or Prospectus to omit to state a material fact necessary in order to
make the statements therein, in the light of the circumstances under which they
were made, not misleading, as well as any other corporate developments, public
filings with the SEC or similar events causing such Registration Statement not
to be effective or the Prospectus not useable for resales and (vi) of the
reasonable determination of the Operating Partnership that a post-effective
amendment to the Registration Statement would be appropriate;

	 	(f) obtain the withdrawal of any order suspending the
effectiveness of a Registration Statement at the earliest possible moment;

	 	(g) in the case of a Shelf Registration, furnish to each Holder
of Registrable Notes included within the coverage of such Shelf Registration
Statement, without charge, at least one conformed copy of each Registration
Statement relating to such Shelf Registration and any post-effective amendment
thereto (without documents incorporated therein by reference or exhibits
thereto, unless requested);

	 	(h) in the case of a Shelf Registration, cooperate with the
selling Holders of Registrable Notes to facilitate the timely preparation and
delivery of certificates representing Registrable Notes to be sold and not
bearing any restrictive legends and in such denominations (consistent with the
provisions of the Indenture) and registered in such names as the selling Holders
or the underwriters may reasonably request at least two Business Days prior to
the closing of any sale of Registrable Notes pursuant to such Shelf Registration
Statement;

	 	(i) in the case of a Shelf Registration or an Exchange Offer
Registration, promptly after the occurrence of any event specified in
Section 3(e)(ii), 3(e)(iii), 3(e)(v) (subject to a 60-day grace period within
any twelve-month period) or 3(e)(vi) hereof, prepare a supplement or
post-effective amendment to such Registration Statement or the related
Prospectus or any document incorporated therein by reference or file any other
required document so that, as thereafter delivered to the purchasers of the
Registrable Notes, such Prospectus will not include any untrue statement of a
material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not
misleading; and the Operating Partnership shall notify each Holder to suspend
use of the Prospectus as promptly as practicable after the occurrence of such an
event, and each Holder hereby agrees to suspend use of the Prospectus until the
Operating Partnership has amended or supplemented the Prospectus to correct such
misstatement or omission;

	 	(j) in the case of a Shelf Registration, a reasonable time prior
to the filing of any document which is to be incorporated by reference into a
Registration Statement or a Prospectus after the initial filing of a
Registration Statement, provide a reasonable number of copies of such document
to the Holders and make such of the representatives of the Operating Partnership
as shall be reasonably requested by the Holders of Registrable Notes or the
Initial Purchasers on behalf of such Holders available for discussion of such
document;

	 	(k) obtain a CUSIP number for each series of Notes, as the case
may be, not later than the effective date of a Registration Statement, and
provide the Trustee with certificates for the Exchange Notes or the Registrable
Notes, as the case may be, in a form eligible for deposit with the Depositary;

	 	(1) cause the Indenture to be qualified under the Trust
Indenture Act of 1939, as amended (the "TIA"), in connection with the
registration of the Exchange Notes or Registrable Notes, as the case may be, and
effect such changes to such documents as may be required for them to be so
qualified in accordance with the terms of the TIA and execute, and cause the
Trustee to execute, all documents as may be required to effect such changes, and
all other forms and documents required to be filed with the SEC to enable such
documents to be so qualified in a timely manner;

	 	(m) in the case of a Shelf Registration, enter into such
agreements (including underwriting agreements) as are customary in underwritten
offerings and take all such other appropriate actions in connection therewith as
are reasonably requested by the Holders of at least 25% in aggregate principal
amount of the Registrable Notes of a series in order to expedite or facilitate
the registration or the disposition of such Registrable Notes;

	 	(n) in the case of a Shelf Registration, whether or not an
underwriting agreement is entered into and whether or not the registration is an
underwritten registration, if requested by (x) an Initial Purchaser, in the case
where such Initial Purchaser holds Notes acquired by it as part of its initial
placement and (y) Holders of at least 25% in aggregate principal amount of the
Registrable Notes of a series covered thereby: (i) make such representations and
warranties to Holders of such Registrable Notes and the underwriters (if any),
with respect to the business of the Operating Partnership and the subsidiaries
of the Operating Partnership as then conducted and the Registration Statement,
Prospectus and documents, if any, incorporated or deemed to be incorporated by
reference therein, in each case, as are customarily made by issuers to
underwriters in underwritten offerings, and confirm the same if and when
requested; (ii) obtain opinions of counsel to the Operating Partnership and
updates thereof (which may be in the form of a reliance letter) in form and
substance reasonably satisfactory to the managing underwriters (if any) and the
Holders of a majority in amount of the Registrable Notes of a series being sold,
addressed to each selling Holder and the underwriters (if any) covering the
matters customarily covered in opinions requested in underwritten offerings and
such other matters as may be reasonably requested by such underwriters (it being
agreed that the matters to be covered by such opinion may be subject to
customary qualifications and exceptions); (iii) obtain "cold comfort"
letters and updates thereof in form and substance reasonably satisfactory to the
managing underwriters from the independent certified public accountants of the
Operating Partnership (and, if necessary, any other independent certified public
accountants of any business acquired by the Operating Partnership for which
financial statements and financial data are, or are required to be, included in
the Registration Statement), addressed to each of the underwriters, such letters
to be in customary form and covering matters of the type customarily covered in
"cold comfort" letters in connection with underwritten offerings and
such other matters as reasonably requested by such underwriters in accordance
with Statement on Auditing Standards No. 72; and (iv) if an underwriting
agreement is entered into, the same shall contain indemnification provisions and
procedures no less favorable than those set forth in Section 4 hereof (or such
other provisions and procedures acceptable to Holders of a majority in aggregate
principal amount of Registrable Notes of a series covered by such Registration
Statement and the managing underwriters) customary for such agreements with
respect to all parties to be indemnified pursuant to said Section (including,
without limitation, such underwriters and selling Holders); and in the case of
an underwritten registration, the above requirements shall be satisfied at each
closing under the related underwriting agreement or as and to the extent
required thereunder;

	 	(o) if (1) a Shelf Registration is filed pursuant to Section
2(b) or (2) a Prospectus contained in an Exchange Offer Registration Statement
filed pursuant to Section 2(a) is required to be delivered under the Securities
Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during
the Applicable Period, make reasonably available for inspection by any selling
Holder or Registrable Notes or Participating Broker-Dealer, as applicable, who
certifies to the Operating Partnership that it has a current intention to sell
Registrable Notes pursuant to the Shelf Registration, any underwriter
participating in any such disposition of Registrable Notes, if any, and any
attorney, accountant or other agent retained by any such selling Holder,
Participating Broker-Dealer, as the case may be, or underwriter (collectively,
the "Inspectors"), at the offices where normally kept, during
the Operating Partnership’s normal business hours, all financial and other
records, pertinent organizational and operational documents and properties of
the Operating Partnership and its subsidiaries (collectively, the
"Records") as shall be reasonably necessary to enable them to exercise
any applicable due diligence responsibilities, and cause the Operating
Partnership and their subsidiaries to supply all relevant information in each
case reasonably requested by any such Inspector in connection with such
Registration Statement; records and information which the Operating Partnership
determines, in good faith, to be confidential and any Records and information
which it notifies the Inspectors are confidential shall not be disclosed to any
Inspector except where (i) the disclosure of such Records or information is
necessary to avoid or correct a material misstatement or omission in such
Registration Statement, (ii) the release of such Records or information is
ordered pursuant to a subpoena or other order from a court of competent
jurisdiction or is necessary in connection with any action, suit or proceeding
or (iii) such Records or information previously has been made generally
available to the public; each selling Holder of such Registrable Notes and each
such Participating Broker-Dealer will be required to agree in writing that
Records and information obtained by it as a result of such inspections shall be
deemed confidential and shall not be used by it as the basis for any market
transactions in the securities of the Operating Partnership unless and until
such is made generally available to the public through no fault of an Inspector
or a selling Holder; and each selling Holder of such Registrable Notes and each
such Participating Broker-Dealer will be required to further agree in writing
that it will, upon learning that disclosure of such Records or information is
sought in a court of competent jurisdiction, or in connection with any action,
suit or proceeding, give notice to the Operating Partnership and allow the
Operating Partnership at its expense to undertake appropriate action to prevent
disclosure of the Records and information deemed confidential;

	 	(p) comply with all applicable rules and regulations of the SEC
so long as any provision of this Agreement shall be applicable and make
generally available to its securityholders earning statements satisfying the
provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or
any similar rule promulgated under the Securities Act) no later than 45 days
after the end of any 12-month period (or 60 days after the end of any 12-month
period if such period is a fiscal year) (i) commencing at the end of any
fiscal quarter in which Registrable Notes are sold to underwriters in a firm
commitment or best efforts underwritten offering and (ii) if not sold to
underwriters in such an offering, commencing on the first day of the first
fiscal quarter of the Operating Partnership after the effective date of a
Registration Statement, which statements shall cover said 12-month periods,
provided that the obligations under this paragraph (p) shall be satisfied by the
timely filing of quarterly and annual reports on Forms 10-Q and 10-K under
the Exchange Act;

	 	(q) upon consummation of an Exchange Offer, if requested by the
Trustee, obtain an opinion of counsel to the Operating Partnership addressed to
the Trustee for the benefit of all Holders of Registrable Notes participating in
the Exchange Offer, substantially to the effect that (i) the Operating
Partnership has duly authorized, executed and delivered the Exchange Notes, and
(ii) each of the Exchange Notes constitutes a legal, valid and binding
obligation of the Operating Partnership, enforceable against the Operating
Partnership, in accordance with its respective terms (in each case, with
customary exceptions);

	 	(r) if an Exchange Offer is to be consummated, upon delivery of
the Registrable Notes by Holders to the Operating Partnership (or to such other
Person as directed by the Operating Partnership), in exchange for the Exchange
Notes, the Operating Partnership shall mark, or cause to be marked, on such
Registrable Notes delivered by such Holders that such Registrable Notes are
being cancelled in exchange for the Exchange Notes; it being understood that in
no event shall such Registrable Notes be marked as paid or otherwise satisfied;

	 	(s) cooperate with each seller of Registrable Notes
covered by any Registration Statement and each underwriter, if any,
participating in the disposition of such Registrable Notes and their respective
counsel in connection with any filings required to be made with the NASD;

	 	
(t) take all other steps necessary to effect the registration of the Registrable
Notes covered by a Registration Statement contemplated hereby;

	 	(u) (A) in the case of the Exchange Offer Registration
Statement (i) include in the Exchange Offer Registration Statement a section
entitled "Plan of Distribution," which section shall be reasonably
acceptable to the Initial Purchasers or another representative of the
Participating Broker-Dealers, and which shall contain a summary statement of the
positions taken or policies made by the staff of the SEC with respect to the
potential "underwriter" status of any broker-dealer that holds
Registrable Notes acquired for its own account as a result of market-making
activities or other trading activities (a "Participating Broker-Dealer
") and that will be the beneficial owner (as defined in Rule 13d-3
under the Exchange Act) of Exchange Notes to be received by such broker-dealer
in the Exchange Offer, whether such positions or policies have been publicly
disseminated by the staff of the SEC or such positions or policies, in the
reasonable judgment of the Initial Purchasers or such other representative,
represent the prevailing views of the staff of the SEC, including a statement
that any such broker-dealer who receives Exchange Notes for Registrable Notes
pursuant to the Exchange Offer may be deemed a statutory underwriter and must
deliver a prospectus meeting the requirements of the Securities Act in
connection with any resale of such Exchange Notes, (ii) furnish to each
Participating Broker-Dealer who has delivered to the Operating Partnership the
notice referred to in Section 3(e), without charge, as many copies of each
Prospectus included in the Exchange Offer Registration Statement, including any
preliminary Prospectus, and any amendment or supplement thereto, as such
Participating Broker-Dealer may reasonably request (the Operating Partnership
hereby consents to the use of the Prospectus forming part of the Exchange Offer
Registration Statement or any amendment or supplement thereto by any Person
subject to the prospectus delivery requirements of the Securities Act, including
all Participating Broker-Dealers, in connection with the sale or transfer of the
Exchange Notes covered by the Prospectus or any amendment or supplement
thereto), (iii) use its reasonable best efforts to keep the Exchange Offer
Registration Statement effective and to amend and supplement the Prospectus
contained therein in order to permit such Prospectus to be lawfully delivered
by all Persons subject to the prospectus delivery requirements of the Securities
Act for such period of time as such Persons must comply with such requirements
under the Securities Act and applicable rules and regulations in order to resell
the Exchange Notes; provided, however, that such period shall not
be required to exceed 180 days (or such longer period if extended pursuant to
the last sentence of Section 3 hereof) (the
"Applicable Period"), and (iv) include in the transmittal
letter or similar documentation to be executed by an exchange offeree in order
to participate in the Exchange Offer (x) the following provision:

	 	
"If the exchange offeree is a broker-dealer holding
Registrable Notes acquired for its own account as a result of market-making
activities or other trading activities, it will deliver a prospectus meeting the
requirements of the Securities Act in connection with any resale of Exchange
Notes received in respect of such Registrable Notes pursuant to the Exchange
Offer"

	 	and (y) a statement to the effect that by a
broker-dealer making the acknowledgment described in clause (x) and by
delivering a Prospectus in connection with the exchange of Registrable Notes,
the broker-dealer will not be deemed to admit that it is an underwriter within
the meaning of the Securities Act; and

	 	(B)      in the case of any
Exchange Offer Registration Statement, the Operating Partnership agrees to
deliver to the Initial Purchasers or to another representative of the
Participating Broker-Dealers, if reasonably requested by an Initial Purchaser or
such other representative of Participating Broker-Dealers, on behalf of the
Participating Broker-Dealers upon consummation of the Exchange Offer (i) an
opinion of counsel in form and substance reasonably satisfactory to such
Initial Purchaser or such other representative of the Participating
Broker-Dealers, covering the matters customarily covered in opinions requested
in connection with Exchange Offer Registration Statements and such other matters
as may be reasonably requested (it being agreed that the matters to be covered
by such opinion may be subject to customary qualifications and exceptions), (ii)
an officers' certificate containing certifications substantially similar to
those set forth in Section 5(c) of the Purchase Agreement and such additional
certifications as are customarily delivered in a public offering of debt
securities and (iii) upon the effectiveness of the Exchange Offer Registration
Statement, comfort letter(s), in each case, in customary form if permitted by
Statement on Auditing Standards No. 72.

               
The Operating Partnership may require each seller of Registrable Notes as to
which any registration is being effected to furnish to the Operating Partnership
such information regarding such seller as may be required by the staff of the
SEC to be included in a Registration Statement. The Operating Partnership may
exclude from such registration the Registrable Notes of any seller who
unreasonably fails to furnish such information within a reasonable time after
receiving such request. The Operating Partnership shall have no obligation to
register under the Securities Act the Registrable Notes of a seller who so fails
to furnish such information. 

               
In the case of a Shelf Registration Statement, or if
Participating Broker-Dealers who have notified the Operating Partnership that
they will be utilizing the Prospectus contained in the Exchange Offer
Registration Statement as provided in this Section 3(u) hereof are seeking to
sell Exchange Notes and are required to deliver Prospectuses, each Holder agrees
that, upon receipt of any notice from the Operating Partnership of the
occurrence of any event specified in Section 3(e)(ii), 3(e)(iii), 3(e)(v) or
3(e)(vi) hereof, such Holder will forthwith discontinue disposition of
Registrable Notes pursuant to a Registration Statement until such Holder’s
receipt of the copies of the supplemented or amended Prospectus contemplated by
Section 3(i) hereof or until it is advised in writing (the "Advice")
by the Operating Partnership that the use of the applicable Prospectus may be
resumed, and, if so directed by the Operating Partnership, such Holder will
deliver to the Operating Partnership (at the Operating Partnership's
expense) all copies in such Holder's possession, other than permanent file
copies then in such Holder’s possession, of the Prospectus covering such
Registrable Notes or Exchange Notes, as the case may be, current at the time of
receipt of such notice. If the Operating Partnership shall give any such notice
to suspend the disposition of Registrable Notes or Exchange Notes, as the case
may be, pursuant to a Registration Statement, the Operating Partnership shall
use its reasonable best efforts to file and have declared effective (if an
amendment) as soon as practicable after the resolution of the related matters an
amendment or supplement to the Registration Statement and shall extend the
period during which such Registration Statement is required to be maintained
effective and the Prospectus usable for resales pursuant to this Agreement by
the number of days in the period from and including the date of the giving of
such notice to and including the date when the Operating Partnership shall have
made available to the Holders (x) copies of the supplemented or amended
Prospectus necessary to resume such dispositions or (y) the Advice. 

               
4.      Indemnification and Contribution. (a) In
connection with any Registration Statement, the Operating Partnership shall
indemnify and hold harmless the Initial Purchasers, each Holder, each
underwriter who participates in an offering of the Registrable Notes, each
Participating Broker-Dealer, each Person, if any, who controls any of such
parties within the meaning of Section 15 of the Securities Act or Section 20 of
the Exchange Act and each of their respective directors, officers, employees and
agents, as follows: 

	 	
(i) against any
and all loss, liability, claim, damage and expense whatsoever, as incurred,
arising out of any untrue statement or alleged untrue statement of a material
fact contained in any Registration Statement (or any amendment or supplement
thereto), covering Registrable Notes or Exchange Notes, as applicable, or the
omission or alleged omission therefrom of a material fact required to be stated
therein, in the light of the circumstances under which they were made, not
misleading;

	 	
(ii) against any and all loss, liability, claim, damage and
expense whatsoever, as incurred, to the extent of the aggregate amount paid in
settlement of any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or of any claim whatsoever
based upon any such untrue statement or omission, or any such alleged untrue
statement or omission; provided that (subject to Section 4(d) hereof) any such
settlement is effected with the prior written consent of the Operating
Partnership; and

	 	
(iii) against any and all expenses whatsoever, as incurred
(including the reasonable fees and disbursements of counsel chosen by such
Holder, such Participating Broker-Dealer, or any underwriter (except to the
extent otherwise expressly provided in Section 4(c) hereof)) or reasonably
incurred in investigating, preparing or defending against any litigation, or any
investigation or proceeding by any governmental agency or body, commenced or
threatened, or any claim whatsoever based upon any such untrue statement or
omission, or any such alleged untrue statement or omission, to the extent that
any such expense is not paid under subparagraph (i) or (ii) of this Section
4(a);

provided, however, that this indemnity does not apply to
any loss, liability, claim, damage or expense to the extent arising out of an
untrue statement or omission or alleged untrue statement or omission made in
reliance upon and in conformity with written information furnished in writing
to the Operating Partnership by the Initial Purchasers or such Holder,
underwriter or Participating Broker-Dealer for use in a Registration Statement
(or any amendment thereto) or any Prospectus (or any amendment or supplement
thereto). 

          
     (b) Each of the Initial Purchasers and each Holder, underwriter
or Participating Broker-Dealer agrees, severally and not jointly, to indemnify
and hold harmless the Company, the Operating Partnership, the directors and
officers of the Operating Partnership and the Company, and each Person, if any,
who controls the Company or the Operating Partnership within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act against any
and all loss, liability, claim, damage and expense whatsoever described in the
indemnity contained in Section 4(a) hereof, as incurred, but only with respect
to untrue statements or omissions, or alleged untrue statements or omissions,
made in a Registration Statement (or any amendment thereto) or any Prospectus
(or any amendment or supplement thereto) in reliance upon and in conformity
with written information furnished to the Operating Partnership by such Holder
expressly for use in such Registration Statement (or any amendment thereto), or
any such Prospectus (or any amendment or supplement thereto); provided,
however, that in the case of a Shelf Registration Statement, no such Holder
shall be liable for any claims hereunder in excess of the amount of net proceeds
received by such Holder from the sale of Registrable Notes pursuant to such
Shelf Registration Statement. 

          
     (c) Each indemnified party shall give notice as promptly as
reasonably practicable to each indemnifying party of any action commenced
against it in respect of which indemnity may be sought hereunder, but failure to
so notify an indemnifying party shall not relieve such indemnifying party from
any liability which it may have under this Section 4 to the extent that it is
not materially prejudiced by such failure as a result thereof, and in any event
shall not relieve it from liability which it may have otherwise on account of
this indemnity agreement. In the case of parties indemnified pursuant to Section
4(a) or (b) above, counsel to the indemnified parties shall be selected by such
parties. An indemnifying party may participate at its own expense in the defense
of such action; provided, however, that counsel to the indemnifying party shall
not (except with the consent of the indemnified party) also be counsel to the
indemnified party. In no event shall the indemnifying parties be liable for the
fees and expenses of more than one counsel (in addition to local counsel),
separate from their own counsel, for all indemnified parties in connection with
any one action or separate but similar or related actions in the same
jurisdiction arising out of the same general allegations or circumstances. No
indemnifying party shall, without the prior written consent of the indemnified
parties, settle or compromise or consent to the entry of any judgment with
respect to any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or any claim whatsoever in
respect of which indemnification or contribution could be sought under this
Section 4 (whether or not the indemnified parties are actual or potential
parties thereto), unless such settlement, compromise or consent (i) includes an
unconditional written release of each indemnified party from all liability
arising out of such litigation, investigation, proceeding or claim and (ii) does
not include a statement as to or an admission of fault, culpability or a failure
to act by or on behalf of any indemnified party. 

          
     (d) If at any time an indemnified party shall have validly
requested an indemnifying party to reimburse the indemnified party for fees and
expenses of counsel, such indemnifying party agrees that it shall be liable for
any settlement of the nature contemplated by Section 4(a)(ii) effected without
its written consent if (i) such settlement is entered into more than 45 days
after receipt by such indemnifying party of the aforesaid request, (ii) such
indemnifying party shall have received notice of the terms of such settlement at
least 30 days prior to such settlement being entered into and (iii) such
indemnifying party shall not have reimbursed such indemnified party in
accordance with such request prior to the date of such settlement. 

          
     (e) In order to provide for just and equitable contribution in
circumstances under which any of the indemnity provisions set forth in this
Section 4 is for any reason held to be unenforceable by an indemnified party
although applicable in accordance with its terms, the Operating Partnership and
the Holders shall contribute to the aggregate losses, liabilities, claims,
damages and expenses of the nature contemplated by such indemnity agreement
incurred by the Operating Partnership and the Holders, as incurred; provided,
however, that no Person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from
any Person that was not guilty of such fraudulent misrepresentation. As between
the Operating Partnership and the Holders, such parties shall contribute to such
aggregate losses, liabilities, claims, damages and expenses of the nature
contemplated by such indemnity agreement in such proportion as shall be
appropriate to reflect the relative fault of the Operating Partnership, on the
one hand, and the Holders, on the other hand, with respect to the statements or
omissions which resulted in such loss, liability, claim, damage or expense, or
action in respect thereof, as well as any other relevant equitable
considerations. The relative fault of the Operating Partnership, on the one
hand, and of the Holders, on the other hand, shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact
relates to information supplied by the Operating Partnership, on the one hand,
or by or on behalf of the Holders, on the other, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission. The Operating Partnership and the Holders of the
Registrable Notes agree that it would not be just and equitable if contribution
pursuant to this Section 4 were to be determined by pro rata allocation or by
any other method of allocation that does not take into account the relevant
equitable considerations. For purposes of this Section 4, each Affiliate of a
Holder, and each director, officer and employee and Person, if any, who controls
a Holder or such Affiliate within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act shall have the same rights to contribution
as such Holder, and each director and officer of the Company and each Person, if
any, who controls the Company within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act shall have the same rights to contribution
as the Operating Partnership. 

          
     5.     Participation
in an Underwritten Registration. No Holder may participate in an underwritten
registration hereunder unless such Holder (a) agrees to sell such Holder’s
Registrable Notes on the basis provided in the underwriting arrangement approved
by the Persons entitled hereunder to approve such arrangements and (b) completes
and executes all reasonable questionnaires, powers of attorney, indemnities,
underwriting agreements, lock-up letters and other documents reasonably required
under the terms of such underwriting arrangements. 

          
     6.     Selection of
Underwriters. The Holders of Registrable Notes covered by the Shelf
Registration Statement who desire to do so may sell the Securities covered by
such Shelf Registration in an underwritten offering, subject to the provisions
of Section 3(m) hereof. In any such underwritten offering, the underwriter or
underwriters and manager or managers that will administer the offering will be
selected by the Holders of a majority in aggregate principal amount of the
Registrable Notes of the particular series included in such offering;
provided, however, that such underwriters and managers must be reasonably
satisfactory to the Operating Partnership. 

          
     7.     Miscellaneous.

          
     (a) Rule 144 and Rule 144A For so long as the Operating
Partnership is subject to the reporting requirements of Section 13 or 15 of the
Exchange Act and any Registrable Notes remain outstanding, the Operating
Partnership will file the reports required to be filed by it under the
Securities Act and Section 13(a) or 15(d) of the Exchange Act and the rules and
regulations adopted by the SEC thereunder; provided, however, that if
the Operating Partnership ceases to be so required to file such reports, it
will, upon the request of any Holder of Registrable Notes, (a) make publicly
available such information as is necessary to permit sales of its securities
pursuant to Rule 144 under the Securities Act, (b) deliver such information to
a prospective purchaser as is necessary to permit sales of its securities
pursuant to Rule 144A under the Securities Act, and (c) take such further action
that is reasonable in the circumstances, in each case, to the extent required
from time to time to enable such Holder to sell its Registrable Notes without
registration under the Securities Act within the limitation of the exemptions
provided by (i) Rule 144 under the Securities Act, as such rule may be amended
from time to time, (ii) Rule 144A under the Securities Act, as such rule may be
amended from time to time, or (iii) any similar rules or regulations hereafter
adopted by the SEC. Upon the request of any Holder of Registrable Notes,
the Operating Partnership will deliver to such Holder a written statement as to
whether it has complied with such requirements. 

          
     (b) No Inconsistent Agreements. The
Operating Partnership has not entered into, nor will the Operating Partnership
on or after the date of this Agreement enter into, any agreement which is
inconsistent with the rights granted to the Holders of Registrable Notes in this
Agreement or otherwise conflicts with the provisions hereof. The rights granted
to the Holders hereunder do not in any way conflict with and are not
inconsistent with the rights granted to the holders of the Operating
Partnership’s other issued and outstanding securities under any such
agreements. 

          
     (c) Amendments and Waivers. The provisions
of this Agreement, including the provisions of this sentence, may not be
amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, unless the Operating Partnership has
obtained the written consent of Holders of a majority in aggregate principal
amount of the outstanding Registrable Notes affected by such amendment,
modification, supplement, waiver or departure; provided that no
amendment, modification or supplement or waiver or consent to the departure with
respect to the provisions of Section 4 hereof shall be effective as against any
Holder of Registrable Notes unless consented to in writing by such Holder of
Registrable Notes. Notwithstanding the foregoing sentence, (i) this Agreement
may be amended, without the consent of any Holder of Registrable Notes, by
written agreement signed by the Operating Partnership and the Initial
Purchasers, to cure any ambiguity, correct or supplement any provision of this
Agreement that may be inconsistent with any other provision of this Agreement or
to make any other provisions with respect to matters or questions arising under
this Agreement which shall not be inconsistent with other provisions of this
Agreement, (ii) this Agreement may be amended, modified or supplemented, and
waivers and consents to departures from the provisions hereof may be given, by
written agreement signed by the Operating Partnership and the Initial Purchasers
to the extent that any such amendment, modification, supplement, waiver or
consent is, in their reasonable judgment, necessary or appropriate to comply
with applicable law (including any interpretation of the Staff of the SEC) or
any change therein and (iii) to the extent any provision of this Agreement
relates to an Initial Purchaser, such provision may be amended, modified or
supplemented, and waivers or consents to departures from such provisions may be
given, by written agreement signed by such Initial Purchaser and the Operating
Partnership. 

          
     (d) Notices. All notices and other
communications provided for or permitted hereunder shall be made in writing by
hand-delivery, registered first-class mail, telex, telecopier, or any courier
guaranteeing overnight delivery (i) if to a Holder, at the most current address
given by such Holder to the Operating Partnership by means of a notice given in
accordance with the provisions of this Section 7(d), which address initially is,
with respect to each Initial Purchaser, the address set forth in the Purchase
Agreement; and (ii) if to the Operating Partnership, initially at the Operating
Partnership’s address set forth in the Purchase Agreement and thereafter at
such other address, notice of which is given in accordance with the provisions
of this Section 7(d). 

          
     All such notices and communications shall be
deemed to have been duly given: at the time delivered by hand, if personally
delivered; five Business Days after being deposited in the mail, postage
prepaid, if mailed; when answered back, if telexed; when receipt is
acknowledged, if telecopied; and on the next Business Day, if timely delivered
to an air courier guaranteeing overnight delivery. 

          
     Copies of all such notices, demands, or other
communications shall be concurrently delivered by the Person giving the same to
the Trustee, at the address specified in the Indenture. 

          
     (e) Successors and Assigns. This Agreement
shall inure to the benefit of and be binding upon the successors, assigns and
transferees of the Initial Purchasers, including, without limitation and without
the need for an express assignment, subsequent Holders; provided, however,
that nothing herein shall be deemed to permit any assignment, transfer or
other disposition of Registrable Notes in violation of the terms of the Purchase
Agreement or the Indenture. If any transferee of any Holder shall acquire
Registrable Notes, in any manner, whether by operation of law or otherwise, such
Registrable Notes shall be held subject to all of the terms of this Agreement,
and by taking and holding such Registrable Notes, such Person shall be
conclusively deemed to have agreed to be bound by and to perform all of the
terms and provisions of this Agreement and such Person shall be entitled to
receive the benefits hereof. 

          
     (f) Third Party Beneficiaries. Each Holder
and any Participating Broker-Dealer shall be third party beneficiaries of the
agreements made hereunder between the Initial Purchasers, and the Operating
Partnership, and the Initial Purchasers shall have the right to enforce such
agreements directly to the extent it deems such enforcement necessary or
advisable to protect its rights or the rights of Holders hereunder.

          
     (g) Counterparts. This Agreement may be
executed in any number of counterparts and by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same agreement.

          
     (h) Headings. The headings in this
Agreement are for convenience of reference only and shall not limit or otherwise
affect the meaning hereof.

          
     (i) GOVERNING LAW. THIS AGREEMENT SHALL BE
DEEMED TO HAVE BEEN MADE IN THE STATE OF NEW YORK. THE VALIDITY AND
INTERPRETATION OF THIS AGREEMENT, AND THE TERMS AND CONDITIONS SET FORTH HEREIN,
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK WITHOUT GIVING EFFECT TO ANY PROVISIONS RELATING TO CONFLICTS OF LAWS.
EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK IN ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT OR ANY OF THE MATTERS CONTEMPLATED HEREBY,
IRREVOCABLY WAIVES ANY DEFENSE OF LACK OF PERSONAL JURISDICTION AND IRREVOCABLY
AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING MAY BE HEARD
AND DETERMINED IN ANY SUCH COURT. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES,
TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, ANY
OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF SUCH
SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH
SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN
INCONVENIENT FORUM. 

          
     (j) Severability. In the event that any one
or more of the provisions contained herein, or the application thereof in any
circumstance, is held invalid, illegal or unenforceable, the validity, legality
and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired
thereby. 

          
     (k) Securities Held by the Company, the
Operating Partnership or any Affiliates. Whenever the consent or approval of
Holders of a specified percentage of Registrable Notes is required hereunder,
Registrable Notes held by the Company, the Operating Partnership or any
Affiliates shall not be counted in determining whether such consent or approval
was given by the Holders of such required percentage. 

          
     IN WITNESS WHEREOF, the parties have executed this
Agreement as of the date first written above.

	   	Very truly yours,

CHELSEA GCA REALTY PARTNERSHIP, L.P.

By:   Chelsea GCA Realty, Inc.

            
   (its general partner)

By: /s/          
             
             
             
       

       Name:  Leslie T. Chao

       Title: President 

CONFIRMED AND ACCEPTED,

     as of the date first

     above written:

MERRILL LYNCH, PIERCE, FENNER & SMITH

          INCORPORATED

GOLDMAN, SACHS & CO.

BANC OF AMERICA SECURITIES LLC

By:  MERRILL LYNCH, PIERCE, FENNER & SMITH

             INCORPORATED

        For itself and as representative of the several

        Initial Purchasers

By: /s/          
          
          
          
          

      Authorized SignatoryEXHIBIT 4

EXHIBIT 4.1

[FRONT OF STOCK CERTIFICATE]

ASCENDANT SOLUTIONSSM

	
Number
	
Shares

	
C
	 
	 	 
	
Common Stock
	
  CUSIP 04349Y 10 7

ASCENDANT SOLUTIONS, INC.

	
This Certificate is
	 
	
Transferable in
	
         See Reverse for Certain

	
New York, NY
	
        Definitions and Legends

Incorporated Under the Laws of the State of Delaware

THIS CERTIFIES THAT

IS THE OWNER OF

Fully paid and non-assessable shares of the par value

of $.0001 per share of the Common Stock of

ASCENDANT SOLUTIONS, INC.

transferable on the books of the Corporation in person or by duly authorized attorney upon surrender of this certificate properly endorsed. This certificate and the shares represented hereby are issued and shall be held subject to the
provisions of the laws of the State of Delaware and to all of the provisions of the Certificate of Incorporation and the Bylaws of the Corporation, as amended and restated from time to time (copies of which are on file at the office of the Corporation),
to all of which the holder of this certificate by acceptance hereof asserts. This certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar.

     IN WITNESS WHEREOF, the Corporation has caused this certificate to be signed by its duly authorized officers and its corporate seal to be hereto affixed.

Dated:

	
President
	
SEAL
	
Secretary

	 	 	 
	
Countersigned and Registered:
	 	 
	
     THE BANK OF NEW YORK
	 	 
	
            Transfer Agent and Registrar
	 
	 	 	 
	
By:

	 	 
	
                                 Authorized Signature
	 

 

 

<PAGE>

[REVERSE SIDE OF STOCK CERTIFICATE]

The Corporation is authorized to issue Common Stock, par value $.0001 per share, and Preferred Stock, par value $.0001 per share. The Board of Directors of the Corporation has authority to fix the number of shares and the designation of
any series of Preferred Stock and to determine the powers, designations, preferences and relative, participating, optional or other special rights between classes of stock or series thereof of the Corporation, and the qualifications, limitations or
restrictions of such preferences and/or rights. The Corporation will furnish, without charge to such stockholder who so requests, a full statement of the foregoing as established from time to time by the Certificate of Incorporation of the Corporation and
by any certificate of designations. Any such request should be made to the Secretary of the Corporation at the offices of the Corporation.

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
	
________ Custodian______

	
JT TEN
	
-
	
as joint tenants with right
	
(Cust)             (Minor)

	 	
-
	
of survivorship and not as
	
Under Uniform Gifts to Minors

	 	 	
tenants in common
	
Act_______________________

	 	 	 	
(State)

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

For Value Received, _______________ hereby sell, assign and transfer unto

Please insert Social Security or other identifying number of Assignee:

          __________________________________________

________________________________________________________________________

Please print or typewrite name and address, including postal zip code, of Assignee

________________________________________________________________________

___________________________________________________Shares of the Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint

________________________________________________________________________

________________________________________________________________________Attorney to transfer the said stock on the books of the within-named Corporation, with full power of substitution in the premises.

<PAGE>

Dated:______________________________

	
X     
	

----------------------------------------------------

	 	
(Signature)

	
X     
	

---------------------------------------------------

	 	
(Signature)

NOTICE:  The signature(s) to this assignment must correspond with the name(s) as written upon the face of the certificate in every particular without alteration or enlargement or any change whatever.

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(S) GUARANTEED BY:

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