Document:

EXHIBIT 10.1

 

DLJ MB IV HRH, LLC

Eleven Madison Avenue, 16th Floor

New York, New York 10010

 

 

November 30, 2006

 

 

Morgans Hotel
Group

475 Tenth Avenue

New York, New York
10018

Attn:  David Smail

 

Re:   Financing
Waiver Date

 

Dear Mr. Smail:

 

Reference is hereby made to that certain Contribution
Agreement dated as of November 7, 2006 (as amended on November 20, 2006,
November 22, 2006, November 28, 2006 and November 29, 2006, the “Contribution
Agreement”) by and among DLJ MB IV HRH, LLC (“DLJMB”) and Morgans
Hotel Group Co. (“Morgans”). 
Capitalized terms used but not defined herein have the meanings given to
them in the Contribution Agreement.

This letter is to confirm our agreement that, for all
purposes under the Contribution Agreement, the Financing Waiver Date shall be
extended from 5:00 p.m. Eastern Standard Time on Thursday, November 30, 2006 to
5:00 p.m. Eastern Standard Time on Friday, December 1, 2006.

This letter supersedes any prior agreements relating
to the subject matter hereof, and shall be deemed to be effective as of 4:59 pm
Eastern Standard Time on Thursday, November 30, 2006.

Please acknowledge that the foregoing conforms to
Morgans’ understanding with respect to the extension of the Financing Waiver
Date, by signing this letter below and returning it to DLJMB.

 

This letter may be executed in any number of
counterparts, each of which when executed and delivered shall be deemed to be
an original and all of which counterparts taken together shall constitute one
and the same instrument.

	
  

  	
   

  	
   

  	
   

  	
  Very truly yours,

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  DLJ MB IV HRH, LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
  /s/ Steven Rattner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Steven Rattner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Agreed to and Acknowledged as of

  	
   

  	
   

  	
   

  
	
  November 30, 2006:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Morgans Hotel Group Co.

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
  /s/ W. Edward Scheetz

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  cc:

  	
   

  	
  Stephen G.
  Gellman, Esq.Exhibit
4.1

	
  NUMBER

  	
   

  	
  SHARES

  
	
  -0-

  	
   

  	
  -0-

  
	
   

  	
  INCORPORATED
  UNDER THE LAWS OF

  THE STATE OF MARYLAND

  	
   

  
	
  7.625% SERIES A
  CUMULATIVE

  	
   

  	
  7.625% SERIES A
  CUMULATIVE

  
	
  REDEEMABLE
  PREFERRED STO

  	
   

  	
  REDEEMABLE
  PREFERRED STOCK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  CUSIP 609720 20 6

  
	
   

  	
   

  	
  SEE REVERSE FOR IMPORTANT

  
	
   

  	
   

  	
  NOTICE ON TRANSFER RESTRICTIONS

  
	
   

  	
   

  	
  AND OTHER INFORMATION

  

 

MONMOUTH
REAL ESTATE INVESTMENT CORPORATION

This Certifies that

is the owner of

FULLY
PAID AND NON-ASSESSABLE SHARES OF 7.625% SERIES A CUMULATIVE REDEEMABLE PREFERRED
STOCK OF THE PAR VALUE OF $.01 EACH OF

Monmouth
Real Estate Investment Corporation, transferable only on the books of the
Corporation by the holder hereof in person or by duly authorized attorney upon
surrender of the Certificate properly endorsed. 
This Certificate and the shares represented hereby are issued and shall
be held subject to all of the provisions of the charter of the Corporation (the
“Charter”) and the Bylaws of the Corporation and any amendments thereto.  This Certificate is not valid unless
countersigned and registered by the Transfer Agent and Registrar.  Witness the facsimile and of the Corporation
and the facsimile signatures of the duly authorized officers.

	
  Dated:

  	
   

  	
  COUNTERSIGNED AND
  REGISTERED:

  
	
   

  	
   

  	
  AMERICAN STOCK
  TRANSFER & TRUST COMPANY

  
	
   

  	
   

  	
  (NEW YORK, NY)

  
	
   

  	
   

  	
  TRANSFER AGENT
  AND REGISTRAR

  
	
  CHIEF FINANCIAL OFFICER & VICE PRESIDENT

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
   

  	
   

  	 

	
  SECRETARY

  	
   

  	
   

  	
  AUTHORIZED
  SIGNATURE

  	
   

  	 

 

 

 

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 OM

  	
   

  	
  -as tenants in common

  	
   

  	
  UNIF GIFT MIN ACT -

  	
   

  	
  Custodian

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  (Cust)

  	
  (Minor)

  
	
  TEN ENT

  	
   

  	
  -as tenants by the entireties

  	
  under Uniform Gifts to Minors

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Act

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  JT TEN

  	
   

  	
  - as joint tenants with right of

  	
   

  	
   

  	
  (State)

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Survivorship and not as tenants

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  In common

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  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

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IDENTIFICATION NUMBER OF
  ASSIGNEE

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [

  	
  ]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (PLEASE PRINT OR TYPEWRITE
  NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE)

  
	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   Shares

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Represented by the within
  Certificate, and do hereby irrevocably constitute and appoint

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   Attorney

  
	
  to transfer the said shares
  on the books of the within name Corporation with full power of

  	
   

  	
   

  
	
  substitution in the
  premises.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Dated

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  In presence of

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
																								

 

IMPORTANT NOTICE

MONMOUTH REAL ESTATE INVESTMENT
CORPORATION

The Corporation will furnish
to any stockholder, on request and without charge, a full statement of the
information required by Section 2-211(b) of the Maryland General Corporation
Law with respect to the designations and any preferences, conversion and other
rights, voting powers, restrictions, limitations as to dividends and other
distributions, qualifications, and terms and conditions of redemptions of the
stock of each class which the Corporation has authority to issue and, if the Corporation
is authorized to issue any preferred or special class in series or classes, (i)
the difference in the relative rights and preferences between the shares of
each series and class to the extent set, and (ii) the authority of the Board of
Directors to set such rights and preferences of subsequent series and
classes.  The foregoing summary does not
purport to be complete and is subject to and qualified in its entirety by
reference to the Charter of the Corporation, a copy of which will be sent
without charge to each stockholder who so requests.  Such request must be made to the Secretary of
the Corporation at its principal office.

The
securities represented by this Certificate are subject to restrictions on
ownership and Transfer for the purpose of the Corporation’s maintenance of its
status as a “Real Estate Investment Trust” under the Internal Revenue Code of
1986, as amended.  Except as otherwise
provided pursuant to the Charter of the Corporation, no Person may Beneficially
Own or Constructively Own Equity Stock in excess of 9.8% (in value or in number
of shares of Equity Stock, whichever is more restrictive) of the outstanding
Equity Stock of the Corporation, with further restrictions and exceptions set
forth in the Charter of the Corporation. 
There may be no Transfer that would cause a violation of the Ownership
Limit, that would result in Equity Stock of the Corporation being Beneficially
Owned by fewer than 100 Persons, that would result in the Corporation’s being “closely
held” under Section 856(h) of the Code, or that would otherwise result in the
Corporation failing to qualify as a REIT. 
Any Person who attempts or proposes to own, Beneficially Own or
Constructively Own Equity Stock in excess of, or in violation of, the above
limitations must notify the Corporation in writing at least 15 days prior to
such proposed or attempted Transfer to such Person.  If an attempt is made to violate these
restrictions on Transfers, (i) any Purported Transfer will be void and will not
be recognized by the Corporation, (ii) the Corporation will have the right to
redeem the Stock proposed to be Transferred, and (iii) the Stock represented
hereby generally will be automatically converted into and exchanged for Excess
Stock, which will be held in trust by the Trustee in part for the benefit of a
Charitable Beneficiary.  All capitalized
terms in this legend have the meanings defined in the Charter of the
Corporation, a copy of which, including the restrictions on ownership and Transfer,
will be sent without charge to each stockholder who directs a request for such
information to the Chairman of the Board of the Corporation.

 

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.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]