Document:

EXHIBIT 4.4

 

Brookfield
DTLA Fund Office Trust Inc.

 

Articles
Supplementary

 

15% Series B Cumulative Non-Voting
Preferred Stock

 

Brookfield DTLA Fund
Office Trust Inc., a Maryland corporation (the “Corporation”), hereby certifies to the State Department of Assessments
and Taxation of the State of Maryland that:

 

First:
Pursuant to the authority expressly vested in the Board of Directors of the Corporation (the “Board”) pursuant
to Article V of the charter of the Corporation (as amended or supplemented, including by those certain Articles Supplementary for
10,000,000 Shares of 7.625% Series A Cumulative Redeemable Preferred Stock (the “Series A Articles Supplementary”),
collectively, the “charter”) and Section 2-105 of the Maryland General Corporation Law, the Board, by duly adopted
resolutions, classified and designated 125 shares of the authorized but unissued preferred stock, par value $0.01 per share (the
“Preferred Stock”), of the Corporation as 15% Series B Cumulative Non-Voting Preferred Stock, with the
preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications,
and terms and conditions of redemption set forth in these Articles Supplementary, which, upon any restatement of the charter, shall
become part of the charter, with any necessary or appropriate renumbering or relettering of the sections or subsections hereof.

 

Series B Preferred Stock

 

(1)             
Designation and Number. A series of Preferred Stock, designated the “15% Series B
Cumulative Non-Voting Preferred Stock” (the “Series B Preferred Stock”), is hereby established. The
number of shares of Series B Preferred Stock the Corporation has authority to issue is 125.

 

(2)             
Rank. Except for the 7.625% Series A Cumulative Redeemable Preferred Stock, par value
$0.01 per share (the “Series A Preferred Stock”), which shall rank senior to the Series B Preferred Stock with
respect to dividend rights (including, the Series A Preferred Accrual (as defined herein)) and rights upon voluntary or involuntary
liquidation, dissolution or winding up of the Corporation, the Series B Preferred Stock shall, with respect to dividend rights
and rights upon liquidation, dissolution or winding up of the Corporation, rank senior to all other classes or series of shares
of Preferred Stock and the common stock, par value $0.01 per share (“Common Stock”), of the Corporation and
to all other equity securities issued by the Corporation. The term “equity securities” shall not include convertible
debt securities.

 

(3)             
Dividends.

 

		(a)	Subject to the preferential rights of the holders of the Series A
Preferred Stock, holders of the then outstanding shares of Series B Preferred Stock shall be entitled to receive, when and
as authorized by the Board and declared by the Corporation, out of funds legally available for the payment of dividends, cumulative
preferential cash dividends at the annual rate of 15% of the total of $1,000.00 liquidation preference per share plus, after each
Dividend Payment Date (as defined below), all dividends accrued thereon prior to such Dividend Payment Date and not paid on such
Dividend Payment Date. Cash dividends on each share of Series B Preferred Stock shall accrue
and compound in the same manner as, and thus equal the amount of, interest as would accrue and compound on $1,000.00 calculated
at a rate of 15% per annum, compounded annually (assuming the same issuance and payment dates for all shares of Series B Preferred
Stock). Such dividends shall accrue on each outstanding share of Series B Preferred
Stock on a daily basis and shall be cumulative from the day following the date of the last daily dividend accrual that has been
paid in full in accordance with Section 3(h) or, if no prior dividends have been paid on any share of Series B Preferred
Stock, the Original Issue Date, and shall be payable quarterly in arrears on each Dividend Payment
Date or, if not a Business Day, the next succeeding Business Day. “Dividend Payment Date” shall mean the last
calendar day of each January, April, July and October, commencing on the first such calendar day after the Original Issue Date.
For the avoidance of doubt, for purposes of calculating the amount of accrued dividends under the preceding
sentence, all shares of Series B Preferred Stock that are entitled to receive dividends on a Dividend Payment Date shall be treated
as having been outstanding for the entire applicable accrual period described above, so that the amount of accrued dividends for
each such share of Series B Preferred Stock is the same regardless of when each such share of Series B Preferred Stock was issued.
Any dividend payable on the Series B Preferred Stock for any partial dividend period will be computed on the basis
of a 360-day year consisting of twelve 30-day months. The “Original Issue Date” shall be the first date on which
the Corporation receives payment in full of the purchase price for a share of Series B Preferred Stock. A “dividend period”
shall mean, with respect to the first “dividend period,” the period from and including the Original Issue Date to and
including the first Dividend Payment Date, and with respect to each subsequent “dividend period,” the period from but
excluding a Dividend Payment Date to and including the next succeeding Dividend Payment Date or other date as of which accrued
dividends are to be calculated. Dividends will be payable to holders of record as they appear in the stock transfer records of
the Corporation at the close of business on the applicable Dividend Record Date or to the initial purchaser of any Series B Preferred
Stock that is issued after the applicable Dividend Record Date but on or before the applicable Dividend Payment Date. A “Dividend
Record Date” shall be the date designated by the Board for the payment of dividends that is not more than 35 nor less
than 10 days prior to the applicable Dividend Payment Date.

 

    	 

    	 

    

 

		(b)	No dividends on shares of Series B Preferred Stock shall be set apart for payment by the Corporation
or declared by the Corporation or paid at such time as the terms and provisions of any written agreement between the Corporation
and any party that is not an affiliate of the Corporation, including any agreement relating to its indebtedness, prohibit such
declaration, payment or setting apart for payment or provide that such declaration, payment or setting apart for payment would
constitute a breach thereof or a default thereunder, or if such declaration or payment shall be restricted or prohibited by law.
For purposes of this Section 3(b), “affiliate” shall mean any party that controls, is controlled by or is under
common control with the Corporation.

 

		(c)	Notwithstanding the foregoing, dividends on the Series B Preferred Stock shall accrue whether
or not the terms and provisions set forth in Section 3(b) or Section 3(d) hereof at any time prohibit the current
payment of dividends, whether or not the Corporation has earnings, whether or not there are funds legally available for the payment
of such dividends and whether or not such dividends are authorized or declared. Dividends will be declared and paid when due in
all events to the fullest extent permitted by law, subject to the limitations set forth in Section 3(b) or Section
3(d). Accrued but unpaid dividends on the Series B Preferred Stock will accumulate as of the Dividend Payment Date on
which they first become payable.

 

		(d)	No dividends shall be declared or paid or set aside for payment nor shall any other distribution
be declared or made upon the Series B Preferred Stock unless the full amount of accrued dividends on the Series A Preferred Stock
(including the Preferred Accrual, as defined in Section 3(a) of the Series A Articles Supplementary (the “Series
A Preferred Accrual”)) have been or contemporaneously are declared and paid for all past dividend periods and the then
current dividend period.

 

		(e)	Subject to Section (3)(d) and except as provided in this Section (3)(e) or in
Section (3)(f) below, unless either (i) the full amount of accrued dividends on the Series B Preferred Stock have been
or contemporaneously are declared and paid or (ii) a sum sufficient for the payment thereof is set apart for payment (without the
need for any declaration) for all past dividend periods and the Corporation projects that the cash available for distribution to
stockholders as of the next Dividend Payment Date would be sufficient to fund the full payment of the accrued dividends at such
time on the Series B Preferred Stock plus, in the case of a redemption of a majority of the Common Stock, the liquidation
preference and Redemption Premium (as defined below) of the Series B Preferred Stock, no dividends (other than in shares of
Common Stock or in shares of any series of Preferred Stock ranking junior to the Series B Preferred Stock as to dividends
and upon liquidation) shall be declared or paid or set aside for payment nor shall any other distribution be declared or made upon
the Common Stock, or any Preferred Stock of the Corporation ranking junior to the Series B Preferred Stock as to dividends
or upon liquidation, nor shall any shares of Common Stock, or any shares of Preferred Stock of the Corporation ranking junior to
the Series B Preferred Stock as to dividends or upon liquidation be redeemed, purchased or otherwise acquired for any consideration
(or any monies be paid to or made available for a sinking fund for the redemption of any such shares) by the Corporation (except
by conversion into or exchange for other shares of capital stock of the Corporation ranking junior to the Series B Preferred
Stock as to dividends and upon liquidation and except for redemptions or transfers made pursuant to the provisions of Section 7).

 

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		(f)	Notwithstanding Section (3)(e), the Corporation may declare and pay dividends to holders
of Common Stock and redeem Common Stock without first having declared or paid the full amount of accrued dividends on the outstanding
Series B Preferred Stock for all past dividend periods or setting such amount apart for payment if (i) the amount of accrued
dividends on any outstanding share of Series B Preferred Stock at such time is less than $80.63 (i.e., the amount which
will be due on the next dividend payment date following a Dividend Payment Date on which the dividend is not paid, taking into
account the compounding contemplated by Section 3(a)), and (ii) after giving effect to the payment of such dividends or
such redemption, the Corporation projects that the cash available for distribution to holders of the Series B Preferred Stock as
of the next Dividend Payment Date would be sufficient to fund the full payment of the accrued dividends at such time on the Series B
Preferred Stock plus, in the case of a redemption of a majority of the Common Stock, the liquidation preference and Redemption
Premium (as defined below) of the Series B Preferred Stock. If the Corporation pays a dividend in reliance on this Section
(3)(f) at any time that the amount of the dividends accrued and unpaid on any outstanding share of Series B Preferred
Stock is $37.50 or more, the Corporation shall, if requested by one or more of the holders of the Series B Preferred Stock,
pay, in addition to any other dividends payable pursuant to the charter, including dividends payable on the Series A Preferred
Stock, which all such dividends shall be declared and paid prior to the payment of dividends on the Series B Preferred Stock pursuant
to this Section 3(f), a mandatory dividend on the Series B Preferred Stock not later than the next Dividend Payment
Date of $2,000.00 in the aggregate, allocated among the holders of the Series B Preferred Stock pro rata in proportion
to the number of shares held by each.

 

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		(g)	All dividends paid in respect of the Series B Preferred Stock shall be distributed pro
rata with respect to each share of Series B Preferred Stock.

 

		(h)	Any dividend payment made on shares of the Series B Preferred Stock shall be credited against
the earliest accrued but unpaid dividends with respect to such shares. Holders of the Series B Preferred Stock shall not be
entitled to any dividend, whether payable in cash, property or shares in excess of full cumulative dividends on the Series B
Preferred Stock as described in this Section 3.

 

		(i)	A dividend payment shall be deemed to be “set apart for payment” for purposes of these
Articles Supplementary if an amount equal to such dividend payment is either recorded on the Corporation’s books and records
as being set aside for payment of such dividend or is deposited into an account with a bank or trust company for the specified
purpose of such dividend payment.

 

(4)             
Liquidation Preference.

 

		(a)	Prior to the distribution of assets to holders of Common Stock or any series of Preferred Stock
of the Corporation that ranks junior to the Series B Preferred Stock as to liquidation rights in connection with any voluntary
or involuntary liquidation, dissolution or winding up of the affairs of the Corporation, but after (i) payment or provision
of the debts and other liabilities of the Corporation and (ii) any payment due to the holders of shares of the Series A Preferred
Stock, the holders of shares of Series B Preferred Stock then outstanding are entitled to be paid, out of the assets of the
Corporation legally available for distribution to its stockholders, a liquidation preference of $1,000.00 per share, plus an amount
equal to any accrued and unpaid dividends thereon to the date of payment, plus, if applicable, the Redemption Premium (as defined
below).

 

		(b)	In the event that, upon any such voluntary or involuntary liquidation, dissolution or winding up,
the available assets of the Corporation are insufficient to pay the amount of the liquidating distributions on all outstanding
shares of Series B Preferred Stock, then the holders of the Series B Preferred Stock shall share ratably in any such
distribution of assets in proportion to the full liquidating distributions to which they would otherwise be respectively entitled.

 

		(c)	After payment of the full amount of the liquidating distributions to which they are entitled, the
holders of Series B Preferred Stock will have no right or claim to any of the remaining assets of the Corporation.

 

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		(d)	Except as provided in this Section 4(d), (i) the consolidation or merger of the Corporation
with or into any entity or of any other entity into the Corporation, (ii) the adoption of a plan of liquidation, (iii) the sale,
lease or conveyance of all or substantially all of the assets or business of the Corporation, and (iv) the distribution by the
Corporation of its assets to holders of shares of Common Stock of the Corporation following any such events shall not be deemed
to constitute a liquidation, dissolution or winding up of the Corporation. Any consolidation or merger of the Corporation which
results in an amendment, restatement or replacement of these Articles Supplementary or the charter that has a material adverse
effect on the rights and preferences of the Series B Preferred Stock, or that increases the number of authorized or issued shares
of Series B Preferred Stock, shall be deemed a liquidation event for purposes of determining whether the liquidation preference
is payable unless the right to receive payment is waived by holders of a majority of the outstanding shares of Series B Preferred
Stock voting as a separate class (excluding any shares owned by any holder controlling, controlled by, or under common control
with, the Corporation). The distribution by the Corporation to holders of shares of Common Stock of the Corporation of assets following
the sale by the Corporation of its last non-cash or cash equivalent investment shall constitute a liquidation, dissolution, or
winding up of the Corporation if as a result of such distribution, the net equity value of the Corporation as determined by the
Board would be less than twenty times the amount required at that time to fully redeem the shares of the Series B Preferred Stock.

 

(5)             
Redemption.

 

		(a)	Right of Optional Redemption. Subject to Section 5(b), the Corporation, at its option
and upon written notice, may redeem shares of the Series B Preferred Stock, in whole or in part, at any time or from time
to time, for cash at a redemption price of $1,000.00 per share, plus all accrued and unpaid dividends thereon to and including
the date fixed for redemption (except as provided in Section 5(c) below), plus (i) if the redemption date is on
or before December 31, 2015, a redemption premium per share of $50.00, (ii) if the redemption date is between January 1, 2016
and December 31, 2016, a redemption premium per share of $25.00 (in each case, the “Redemption Premium”) and
thereafter, no Redemption Premium. If less than all of the outstanding Series B Preferred Stock is to be redeemed, the shares
of Series B Preferred Stock to be redeemed shall be selected by any equitable method determined by the Corporation.

 

		(b)	Limitations on Redemption. Unless (i) full cumulative dividends (including the Series A
Preferred Accrual) on all shares of Series A Preferred Stock shall have been, or contemporaneously are, declared and paid
or declared and a sum sufficient for the payment thereof is set apart for payment for all past dividend periods and the then current
dividend period, then no shares of Series B Preferred Stock shall be redeemed and the Corporation shall not purchase or otherwise
acquire directly or indirectly any shares of Series B Preferred Stock; provided, however, that the foregoing shall not prevent
the purchase by the Corporation of shares of capital stock transferred to a Trust pursuant to Section 7 in order to
maintain the Corporation’s qualification as a REIT. In addition to the limitations set forth in the preceding sentence, unless
full cumulative dividends on all shares of Series B Preferred Stock shall have been, or contemporaneously are, declared and
paid or declared and a sum sufficient for the payment thereof is set apart for payment for all past dividend periods and the then
current dividend period, then no shares of Series B Preferred Stock shall be redeemed unless all outstanding shares of Series B
Preferred Stock are simultaneously redeemed, and the Corporation shall not purchase or otherwise acquire directly or indirectly
any shares of Series B Preferred Stock; provided, however, that the foregoing shall not prevent the purchase by the Corporation
of (i) shares of capital stock transferred to a Trust pursuant to Section 7 in order to maintain the Corporation’s
qualification as a REIT or (ii) shares of Series B Preferred Stock pursuant to a purchase or exchange offer made on the same
terms to holders of all outstanding shares of Series B Preferred Stock.

 

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		(c)	Rights to Dividends on Shares Called for Redemption. Immediately prior to or upon any redemption
of Series B Preferred Stock, the Corporation shall pay, in cash, any accrued and unpaid dividends to and including the redemption
date, unless a redemption date falls after a Dividend Record Date and prior to the corresponding Dividend Payment Date, in which
case each holder of Series B Preferred Stock at the close of business on such Dividend Record Date shall be entitled to the
dividend payable on such shares on the corresponding Dividend Payment Date notwithstanding the redemption of such shares before
such Dividend Payment Date.

 

		(d)	Status of Redeemed Shares. Any shares of Series B Preferred Stock that shall at any
time have been redeemed or otherwise acquired by the Corporation shall, after such redemption or acquisition, have the status of
authorized but unissued Series B Preferred Stock which may be issued by the Corporation from time to time at its discretion.

 

(6)             
Procedures for Redemption.

 

		(a)	Notice of redemption will be sent by or on behalf of the Corporation by mail, commercial carrier
or other delivery service, postage or freight prepaid, addressed to the respective holders of record of the Series B Preferred
Stock to be redeemed at their respective addresses as they appear on the stock transfer records of the Corporation. If notice of
redemption states the number of shares of Series B Preferred Stock to be redeemed and the redemption price and is accompanied
by a check of the Corporation or a check or money order issued by a bank or trust company, in the amount of the liquidation preference,
any accrued and unpaid dividends and the applicable Redemption Premium, if any, then, upon receipt thereof by the holders of shares
of Series B Preferred Stock, dividends will cease to accrue on the shares of Series B Preferred Stock described in the notice
and such shares of Series B Preferred Stock shall no longer be deemed outstanding and all rights of the holders of such shares
will terminate. Any redemption pursuant to these Articles Supplementary shall be effective upon receipt of the payment required
by the preceding sentence regardless of whether it is accompanied by the notice described in such sentence. No failure to give
such notice or any defect therein or in the sending thereof shall affect the validity of the proceedings for the redemption of
any shares of Series B Preferred Stock, except as to any holder which does not receive the amount required to be paid to such
holder to effect such redemption.

 

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		(b)	In lieu of enclosing payment for the shares of Series B Preferred Stock to be redeemed with
notice of redemption, the Corporation may send a notice of redemption which states (i) the redemption date, (ii) the
redemption price, (iii) the number of shares of Series B Preferred Stock to be redeemed, (iv) the place or places
where shares of Series B Preferred Stock are to be surrendered (if so required in the notice) for payment of the redemption
price, and (v) that the dividends on the shares to be redeemed will cease to accrue on such redemption date. If notice of
redemption is not accompanied by check or other form of payment for the redemption price, it shall be given not less than five (5)
nor more than sixty (60) days prior to the redemption date. If less than all of the Series B Preferred Stock held by
any holder is to be redeemed, the notice mailed to such holder shall also specify the number of shares of Series B Preferred
Stock held by such holder to be redeemed.

 

		(c)	If notice of redemption of any shares of Series B Preferred Stock has been given and payment
has not been included with the notice of redemption, but the funds necessary for such redemption have been set aside by the Corporation
for the benefit of the holders of any shares of Series B Preferred Stock so called for redemption, then, from and after the
redemption date, dividends will cease to accrue on such shares of Series B Preferred Stock, such shares of Series B Preferred
Stock shall no longer be deemed outstanding and all rights of the holders of such shares will terminate, except the right to receive
the redemption price. Holders of Series B Preferred Stock to be redeemed shall surrender such Series B Preferred Stock
at the place designated in such notice and, upon surrender in accordance with said notice of the certificates for shares of Series B
Preferred Stock so redeemed (properly endorsed or assigned for transfer, if the Corporation shall so require and the notice shall
so state), such shares of Series B Preferred Stock shall be redeemed by the Corporation at the redemption price plus any accrued
and unpaid dividends payable upon such redemption. In the event that less than all the shares of Series B Preferred Stock
represented by any such certificate are redeemed, a new certificate or certificates shall be issued representing the unredeemed
shares of Series B Preferred Stock without cost to the holder thereof. The funds necessary for a redemption shall be deemed
to be set aside for purposes of this Section 6 if they are deposited with a bank or trust company pursuant to Section
6(d).

 

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		(d)	The deposit of funds with a bank or trust company for the purpose of redeeming Series B Preferred
Stock shall be irrevocable except that:

 

		(i)	the Corporation shall be entitled to receive from such bank or trust company the interest or other
earnings, if any, earned on any money so deposited in trust, and the holders of any shares redeemed shall have no claim to such
interest or other earnings; and

 

		(ii)	any balance of monies so deposited by the Corporation and unclaimed by the holders of the Series B
Preferred Stock entitled thereto at the expiration of two years from the applicable redemption dates shall be repaid, together
with any interest or other earnings thereon, to the Corporation, and after any such repayment, the holders of the shares entitled
to the funds so repaid to the Corporation shall look only to the Corporation for payment without interest or other earnings.

 

(7)  
Restrictions on Ownership and Transfer to Preserve Tax Benefit. 

 

		(a)	Definitions. For the purposes of Section 5 and this Section 7, the following
terms shall have the following meanings:

 

“Beneficial Ownership”
shall mean ownership of Series B Preferred Stock by a Person who is or would be treated as an owner of such Series B Preferred
Stock either actually or constructively through the application of Section 544 of the Code, as modified by Sections 856(h)(1)(B)
and 856(h)(3) of the Code. The terms “Beneficial Owner,” “Beneficially Own,” “Beneficially
Owns” and “Beneficially Owned” shall have the correlative meanings.

 

“Charitable Beneficiary”
shall mean one or more beneficiaries of a Trust, as determined pursuant to Section 7(c)(vi).

 

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“Code” shall
mean the Internal Revenue Code of 1986, as amended. All section references to the Code shall include any successor provisions thereof
as may be adopted from time to time.

 

“Constructive Ownership”
shall mean ownership of Series B Preferred Stock by a Person who is or would be treated as an owner of such Series B Preferred
Stock either actually or constructively through the application of Section 318 of the Code, as modified by Section 856(d)(5) of
the Code. The terms “Constructive Owner,” “Constructively Own,” “Constructively
Owns” and “Constructively Owned” shall have the correlative meanings.

 

“Individual”
means an individual, a trust qualified under Section 401(a) or 501(c)(17) of the Code, a portion of a trust permanently set aside
for or to be used exclusively for the purposes described in Section 642(c) of the Code, or a private foundation within the meaning
of Section 509(a) of the Code, provided that a trust described in Section 401(a) of the Code and exempt from tax under Section
501(a) of the Code shall be excluded from this definition.

 

“IRS” means
the United States Internal Revenue Service.

 

“Market Price”
means the last reported sales price reported on the New York Stock Exchange of the Series B Preferred Stock on the trading day
immediately preceding the relevant date, or if the Series B Preferred Stock is not then traded on the New York Stock Exchange,
the last reported sales price of the Series B Preferred Stock on the trading day immediately preceding the relevant date as reported
on any exchange or quotation system over which the Series B Preferred Stock may be traded, or if the Series B Preferred Stock is
not then traded over any exchange or quotation system, then the market price of the Series B Preferred Stock on the relevant date
as determined in good faith by the Board of Directors of the Corporation.

 

“Ownership Limit”
shall mean 9.8% (by value or by number of shares, whichever is more restrictive) of the outstanding Series B Preferred Stock of
the Corporation, excluding any such outstanding Series B Preferred Stock which is not treated as outstanding for federal income
tax purposes. The number and value of shares of outstanding Series B Preferred Stock of the Corporation shall be determined by
the Board of Directors in good faith, which determination shall be conclusive for all purposes hereof.

 

“Parent” shall
mean Brookfield DTLA Fund Office Trust Investor Inc., a Maryland corporation.

 

“Person” shall
mean an individual, corporation, partnership, limited liability company, estate, trust (including a trust qualified under Section
401(a) or 501(c)(17) of the Code), a portion of a trust permanently set aside for or to be used exclusively for the purposes described
in Section 642(c) of the Code, association, private foundation within the meaning of Section 509(a) of the Code, joint stock
company or other entity; but does not include an underwriter acting in a capacity as such in a public offering of shares of Series
B Preferred Stock provided that the ownership of such shares of Series B Preferred Stock by such underwriter would not result in
the Corporation being “closely held” within the meaning of Section 856(h) of the Code, or otherwise result in the Corporation
failing to qualify as a REIT.

 

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“Purported Beneficial
Transferee” shall mean, with respect to any purported Transfer (or other event) which results in a transfer to a Trust,
as provided in Section 7(b)(ii), the Purported Record Transferee, unless the Purported Record Transferee would have acquired
or owned shares of Series B Preferred Stock for another Person who is the beneficial transferee or owner of such shares, in which
case the Purported Beneficial Transferee shall be such Person.

 

“Purported Record Transferee”
shall mean, with respect to any purported Transfer (or other event) which results in a transfer to a Trust, as provided in Section
7(b)(ii), the record holder of the shares of Series B Preferred Stock if such Transfer had been valid under Section 7(b)(i).

 

“REIT” shall
mean a real estate investment trust under Sections 856 through 860 of the Code.

 

“Restriction Termination
Date” shall mean the first day on which the Board of Directors of the Corporation determines that it is no longer in
the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.

 

“Transfer” shall
mean any issuance, sale, transfer, gift, assignment, devise, other disposition of Series B Preferred Stock as well as any other
event that causes any Person to Beneficially Own or Constructively Own Series B Preferred Stock, including (i) the granting of
any option or entering into any agreement for the sale, transfer or other disposition of Series B Preferred Stock or (ii) the sale,
transfer, assignment or other disposition of any securities (or rights convertible into or exchangeable for Series B Preferred
Stock), whether voluntary or involuntary, whether such transfer has occurred of record or beneficially or Beneficially or Constructively
(including but not limited to transfers of interests in other entities which result in changes in Beneficial or Constructive Ownership
of Series B Preferred Stock), and whether such transfer has occurred by operation of law or otherwise.

 

“Trust” shall
mean each of the trusts provided for in Section 7(c).

 

“Trustee” shall
mean any Person unaffiliated with the Corporation, or a Purported Beneficial Transferee, or a Purported Record Transferee, that
is appointed by the Corporation to serve as trustee of a Trust.

 

 

 

		(b)	Restriction on Ownership and Transfers.

 

		(i)	Prior to the Restriction Termination Date:

 

		A.	except as provided in Section 7(i), no Person, other than Parent, another subsidiary of
Parent or any Person who owns a direct or indirect interest in Parent, shall Beneficially Own Series B Preferred Stock in excess
of the Ownership Limit;

 

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		B.	except as provided in Section 7(i), no Person, other than Parent, another subsidiary of
Parent or any Person who owns a direct or indirect interest in Parent, shall Constructively Own Series B Preferred Stock in excess
of the Ownership Limit; and

 

		C.	no Person shall Beneficially or Constructively Own Series B Preferred Stock to the extent that
such Beneficial or Constructive Ownership would result in the Corporation being “closely held” within the meaning of
Section 856(h) of the Code, or otherwise failing to qualify as a REIT (including but not limited to ownership that would result
in the Corporation owning (actually or Constructively) an interest in a tenant that is described in Section 856(d)(2)(B) of the
Code if the income derived by the Corporation (either directly or indirectly through one or more partnerships or limited liability
companies) from such tenant would cause the Corporation to fail to satisfy any of the gross income requirements of Section 856(c)
of the Code).

 

		(ii)	If, prior to the Restriction Termination Date, any Transfer occurs that, if effective, would result
in any Person Beneficially or Constructively Owning Series B Preferred Stock in violation of Section 7(b)(i), (i) then that
number of shares of Series B Preferred Stock that otherwise would cause such Person to violate Section 7(b)(i) (rounded
up to the nearest whole share) shall be automatically transferred to a Trust for the benefit of a Charitable Beneficiary, as described
in Section 7(c), effective as of the close of business on the business day prior to the date of such Transfer or other event,
and such Purported Beneficial Transferee shall thereafter have no rights in such shares or (ii) if, for any reason, the transfer
to the Trust described in clause (i) of this sentence is not automatically effective as provided therein to prevent any Person
from Beneficially or Constructively Owning Series B Preferred Stock in violation of Section 7(b)(i), then the Transfer of
that number of shares of Series B Preferred Stock that otherwise would cause any Person to violate Section 7(b)(i)
shall be void ab initio, and the Purported Beneficial Transferee shall have no rights in such shares.

 

		(iii)	Notwithstanding any other provisions contained herein, prior to the Restriction Termination Date,
any Transfer of Series B Preferred Stock that, if effective, would result in the capital stock of the Corporation being beneficially
owned by less than 100 Persons (determined without reference to any rules of attribution) shall be void ab initio, and the intended
transferee shall acquire no rights in such Series B Preferred Stock.

 

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		(iv)	It is expressly intended that the restrictions on ownership and Transfer described in this Section
7(b)(ii) shall apply to restrict the rights of any members or partners in limited liability companies or partnerships to exchange
their interest in such entities for Series B Preferred Stock of the Corporation.

 

		(c)	Transfers of Series B Preferred Stock in Trust.

 

		(i)	Upon any purported Transfer or other event described in Section 7(b)(ii), such Series B
Preferred Stock shall be deemed to have been transferred to the Trustee in his capacity as trustee of a Trust for the exclusive
benefit of one or more Charitable Beneficiaries. Such transfer to the Trustee shall be deemed to be effective as of the close of
business on the business day prior to the purported Transfer or other event that results in a transfer to the Trust pursuant to
Section 7(b)(ii). The Trustee shall be appointed by the Corporation and shall be a Person unaffiliated with the Corporation,
any Purported Beneficial Transferee, and any Purported Record Transferee. Each Charitable Beneficiary shall be designated by the
Corporation as provided in Section 7(c)(vi).

 

		(ii)	Series B Preferred Stock held by the Trustee shall be issued and outstanding Series B Preferred
Stock of the Corporation. The Purported Beneficial Transferee or Purported Record Transferee shall have no rights in the shares
of Series B Preferred Stock held by the Trustee. The Purported Beneficial Transferee or Purported Record Transferee shall not benefit
economically from ownership of any shares held in trust by the Trustee, shall have no rights to dividends and shall not possess
any rights to vote or other rights attributable to the shares of Series B Preferred Stock held in the Trust.

 

		(iii)	The Trustee shall have all voting rights and rights to dividends with respect to Series B Preferred
Stock held in the Trust, which rights shall be exercised for the exclusive benefit of the Charitable Beneficiary. Any dividend
or distribution paid prior to the discovery by the Corporation that shares of Series B Preferred Stock have been transferred to
the Trustee shall be paid to the Trustee upon demand, and any dividend or distribution declared but unpaid shall be paid when due
to the Trustee with respect to such Series B Preferred Stock. Any dividends or distributions so paid over to the Trustee shall
be held in trust for the Charitable Beneficiary. The Purported Record Transferee and Purported Beneficial Transferee shall have
no voting rights with respect to the Series B Preferred Stock held in the Trust and, subject to Maryland law, effective as of the
date the Series B Preferred Stock has been transferred to the Trustee, the Trustee shall have the authority (at the Trustee’s
sole discretion) (i) to rescind as void any vote cast by a Purported Record Transferee with respect to such Series B Preferred
Stock prior to the discovery by the Corporation that the Series B Preferred Stock has been transferred to the Trustee and (ii)
to recast such vote in accordance with the desires of the Trustee acting for the benefit of the Charitable Beneficiary; provided,
however, that if the Corporation has already taken irreversible corporate action, then the Trustee shall not have the authority
to rescind and recast such vote. Notwithstanding the provisions of this Section 7, until the Corporation has received notification
that the Series B Preferred Stock has been transferred into a Trust, the Corporation shall be entitled to rely on its share transfer
and other stockholder records for purposes of preparing lists of stockholders entitled to vote at meetings, determining the validity
and authority of proxies and otherwise conducting votes of stockholders.

 

    	12

    	 

    

 

		(iv)	Within 20 days of receiving notice from the Corporation that shares of Series B Preferred Stock
have been transferred to the Trust, the Trustee of the Trust shall sell the shares of Series B Preferred Stock held in the Trust
to a person, designated by the Trustee, whose ownership of the shares of Series B Preferred Stock will not violate the ownership
limitations set forth in Section 7(b)(i). Upon such sale, the interest of the Charitable Beneficiary in the shares of Series
B Preferred Stock sold shall terminate and the Trustee shall distribute the net proceeds of the sale to the Purported Record Transferee
and to the Charitable Beneficiary as provided in this Section 7(c)(iv). The Purported Record Transferee shall receive the
lesser of (i) the price paid by the Purported Record Transferee for the shares of Series B Preferred Stock in the transaction that
resulted in such transfer to the Trust (or, if the event which resulted in the transfer to the Trust did not involve a purchase
of such shares of Series B Preferred Stock at Market Price, the Market Price of such shares of Series B Preferred Stock on the
day of the event which resulted in the transfer of such shares of Series B Preferred Stock to the Trust )and (ii) the price per
share received by the Trustee (net of any commissions and other expenses of sale) from the sale or other disposition of the shares
of Series B Preferred Stock held in the Trust. Any net sales proceeds in excess of the amount payable to the Purported Record Transferee
shall be immediately paid to the Charitable Beneficiary together with any dividends or other distributions thereon. If, prior to
the discovery by the Corporation that shares of such Series B Preferred Stock have been transferred to the Trustee, such shares
of Series B Preferred Stock are sold by a Purported Record Transferee then (x) such shares of Series B Preferred Stock shall be
deemed to have been sold on behalf of the Trust and (y) to the extent that the Purported Record Transferee received an amount for
such shares of Series B Preferred Stock that exceeds the amount that such Purported Record Transferee was entitled to receive pursuant
to this Section 7(c)(iv), such excess shall be paid to the Trustee upon demand.

 

    	13

    	 

    

 

		(v)	Series B Preferred Stock transferred to the Trustee shall be deemed to have been offered for sale
to the Corporation, or its designee, at a price per share equal to the lesser of (i) the price paid by the Purported Record Transferee
for the shares of Series B Preferred Stock in the transaction that resulted in such transfer to the Trust (or, if the event which
resulted in the transfer to the Trust did not involve a purchase of such shares of Series B Preferred Stock at Market Price, the
Market Price of such shares of Series B Preferred Stock on the day of the event which resulted in the transfer of such shares of
Series B Preferred Stock to the Trust) and (ii) the Market Price on the date the Corporation, or its designee, accepts such offer.
The Corporation shall have the right to accept such offer until the Trustee has sold the shares of Series B Preferred Stock held
in the Trust pursuant to Section 7(c)(iv). Upon such a sale to the Corporation, the interest of the Charitable Beneficiary
in the shares of Series B Preferred Stock sold shall terminate and the Trustee shall distribute the net proceeds of the sale to
the Purported Record Transferee and any dividends or other distributions held by the Trustee with respect to such Series B Preferred
Stock shall thereupon be paid to the Charitable Beneficiary.

 

		(vi)	By written notice to the Trustee, the Corporation shall designate one or more nonprofit organizations
to be the Charitable Beneficiary of the interest in the Trust such that (i) the shares of Series B Preferred Stock held in the
Trust would not violate the restrictions set forth in Section 7(b)(i) in the hands of such Charitable Beneficiary and (ii)
each Charitable Beneficiary is an organization described in Sections 170(b)(1)(A), 170(c)(2) and 501(c)(3) of the Code.

 

    	14

    	 

    

 

		(d)	Remedies For Breach. If the Board of Directors or a committee thereof or other designees
if permitted by the MGCL shall at any time determine in good faith that a Transfer or other event has taken place in violation
of Section 7(b) or that a Person intends to acquire, has attempted to acquire or may acquire beneficial ownership (determined
without reference to any rules of attribution), Beneficial Ownership or Constructive Ownership of any shares of the Corporation
in violation of Section 7(b), the Board of Directors or a committee thereof or other designees if permitted by the MGCL
shall take such action as it deems or they deem advisable to refuse to give effect or to prevent such Transfer, including, but
not limited to, causing the Corporation to redeem shares of Series B Preferred Stock, refusing to give effect to such Transfer
on the books of the Corporation or instituting proceedings to enjoin such Transfer; provided, however, that any Transfers (or,
in the case of events other than a Transfer, ownership or Constructive Ownership or Beneficial Ownership) in violation of Section
7(b)(i), shall automatically result in the transfer to a Trust as described in Section 7(b)(ii) and any Transfer in
violation of Section 7(b)(iii) shall automatically be void ab initio irrespective of any action (or non-action) by the Board
of Directors.

 

		(e)	Notice of Restricted Transfer. Any Person who acquires or attempts to acquire shares in
violation of Section 7(b)(i), or any Person who is a Purported Beneficial Transferee such that an automatic transfer to
a Trust results under Section 7(b)(ii), shall immediately give written notice to the Corporation of such event and shall
provide to the Corporation such other information as the Corporation may request in order to determine the effect, if any, of such
Transfer or attempted Transfer on the Corporation’s status as a REIT.

 

		(f)	Owners Required to Provide Information. Prior to the Restriction Termination Date, each
Person who is a beneficial owner or Beneficial Owner or Constructive Owner of shares of Series B Preferred Stock and each Person
(including the stockholder of record) who is holding shares of Series B Preferred Stock for a beneficial owner or Beneficial Owner
or Constructive Owner shall, on demand, provide to the Corporation a completed questionnaire containing the information regarding
their ownership of such shares, as set forth in the regulations (as in effect from time to time) of the U.S. Department of Treasury
under the Code. In addition, each Person who is a beneficial owner or Beneficial Owner or Constructive Owner of shares of Series
B Preferred Stock and each Person (including the stockholder of record) who is holding shares of Series B Preferred Stock for a
beneficial owner or Beneficial Owner or Constructive Owner shall, on demand, be required to disclose to the Corporation in writing
such information as the Corporation may request in order to determine the effect, if any, of such stockholder’s actual and
constructive ownership of shares of Series B Preferred Stock on the Corporation’s status as a REIT and to ensure compliance
with the Ownership Limit, or as otherwise permitted by the Board of Directors.

 

    	15

    	 

    

 

		(g)	Remedies Not Limited. Nothing contained in this Section 7 shall limit the authority
of the Board of Directors to take such other action as it deems necessary or advisable to protect the Corporation and the interests
of its stockholders by preservation of the Corporation’s status as a REIT.

 

		(h)	Ambiguity. In the case of an ambiguity in the application of any of the provisions of this
Section 7, including any definition contained in Section 7(a), the Board of Directors shall have the power to determine
the application of the provisions of this Section 7 with respect to any situation based on the facts known to it. In the
event this Section 7 requires an action by the Board of Directors and the charter fails to provide specific guidance with
respect to such action, the Board of Directors shall have the power to determine the action to be taken so long as such action
is not contrary to the provisions of this Section 7. Absent a decision to the contrary by the Board of Directors (which
the Board may make in its sole and absolute discretion), if a Person would have (but for the remedies set forth in Section 7(b)(ii))
acquired Beneficial or Constructive Ownership of Series B Preferred Stock in violation of Section 7(b)(i), such remedies
(as applicable) shall apply first to the shares of Series B Preferred Stock which, but for such remedies, would have been actually
owned by such Person, and second to shares of Series B Preferred Stock which, but for such remedies, would have been Beneficially
Owned or Constructively Owned (but not actually owned) by such Person, pro rata among the Persons who actually own such shares
of Series B Preferred Stock based upon the relative number of the shares of Series B Preferred Stock held by each such Person.

 

		(i)	Exceptions.

 

		(i)	Subject to Section 7(b)(1)(iii), the Board of Directors, in its sole discretion, may exempt
(prospectively or retroactively) a Person from the limitation, set forth in Section 7(b)(i)(A), on a Person Beneficially
Owning shares of Series B Preferred Stock in excess of the Ownership Limit, if the Board of Directors determines that such exemption
will not cause any Individual’s Beneficial Ownership of shares of Series B Preferred Stock to violate the Ownership Limit
and that any such exemption will not cause the Corporation to fail to qualify as a REIT under the Code.

 

    	16

    	 

    

 

		(ii)	Subject to Section 7(b)(i)(C), the Board of Directors, in its sole discretion, may exempt
(prospectively or retroactively) a Person from the limitation, set forth in Section 7(b)(i)(B), on a Person Constructively
Owning Series B Preferred Stock in excess of the Ownership Limit, if the Board of Directors determines that such Person does not
and will not own, actually or Constructively, an interest in a tenant of the Corporation (or a tenant of any entity owned in whole
or in part by the Corporation) that would cause the Corporation to own, actually or Constructively, more than a 9.8% interest (as
set forth in Section 856(d)(2)(B) of the Code) in such tenant or that any such ownership would not cause the Corporation to fail
to qualify as a REIT under the Code.

 

		(iii)	Subject to Section 7(b)(i)(C) and the remainder of this Section 7(i)(iii), the Board
of Directors may from time to time increase the Ownership Limit for one or more Persons and decrease the Ownership Limit for all
other Persons; provided, however, that the decreased Ownership Limit will not be effective for any Person whose percentage ownership
in Series B Preferred Stock is in excess of such decreased Ownership Limit until such time as such Person’s percentage of
Series B Preferred Stock equals or falls below the decreased Ownership Limit, but any further acquisition of Series B Preferred
Stock in excess of such percentage ownership of Series B Preferred Stock will be in violation of the Ownership Limit, and, provided
further, that the new Ownership Limit would not allow five or fewer Persons to Beneficially Own more than 49% in value of the outstanding
Series B Preferred Stock.

 

		(iv)	In granting a person an exemption under Section 7(i)(i) or 7(i)(ii) above, the Board of
Directors may require such Person to make certain representations or undertakings or to agree that any violation or attempted violation
of such representations or undertakings (or other action which is contrary to the restrictions contained in Section 7(b))
will result in such Series B Preferred Stock being transferred to a Trust in accordance with Section 7(b)(ii). Prior to
granting any exception pursuant to Section 7(i)(i) or 7(i)(ii), the Board of Directors may require a ruling from
the IRS, or an opinion of counsel, in either case in form and substance satisfactory to the Board of Directors in its sole discretion,
as it may deem necessary or advisable in order to determine or ensure the Corporation’s status as a REIT.

 

(8)            Voting Rights. Except as provided in this Section 8, the holders of the Series B
Preferred Stock shall not be entitled to vote on any matter submitted to stockholders of the Corporation for a vote. Notwithstanding
the foregoing, the consent of the holders of a majority of the outstanding Series B Preferred Stock (excluding any shares
owned by any holder controlling, controlled by, or under common control with, the Corporation), voting as a separate class, shall
be required for (a) except for the Series A Preferred Stock, authorization or issuance of any equity security senior to or
on a parity with the Series B Preferred Stock, (b) any amendment to the Corporation’s charter which has a material
adverse effect on the rights and preferences of the Series B Preferred Stock or which increases the number of authorized shares
of Series B Preferred Stock, or (c) any reclassification of the Series B Preferred Stock.

 

    	17

    	 

    

 

(9)            Dissenter’s Rights. Holders of the Series B Preferred Stock shall have dissenters’
rights to the extent granted under Sections 2-602 and 3-202 of the Maryland General Corporation Law with respect to any amendment
to these Articles Supplementary that materially and adversely affects the holders’ rights in respect to the Series B
Preferred Stock.

 

(10)         
Conversion. The Series B Preferred Stock are not convertible into or exchangeable
for any other property or securities of the Corporation.

 

(11)         
Legend. Each certificate for shares of Series B Preferred Stock shall bear substantially the
following legend:

 

THE
SHARES OF SERIES B PREFERRED STOCK REPRESENTED BY THIS CERTIFICATE, IF ANY, ARE SUBJECT TO RESTRICTIONS ON BENEFICIAL AND CONSTRUCTIVE
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 (THE “CODE”). SUBJECT TO CERTAIN FURTHER RESTRICTIONS AND EXCEPT AS EXPRESSLY
PROVIDED IN THE CORPORATION’S CHARTER, (i) NO PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN SHARES OF THE CORPORATION'S
SERIES B PREFERRED STOCK IN EXCESS OF 9.8% (BY VALUE OR BY NUMBER OF SHARES, WHICHEVER IS MORE RESTRICTIVE) OF THE OUTSTANDING
SERIES B PREFERRED STOCK OF THE CORPORATION; (ii) NO PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN SHARES OF
SERIES B PREFERRED STOCK THAT WOULD RESULT IN THE CORPORATION BEING “CLOSELY HELD” UNDER SECTION 856(h) OF THE CODE
OR OTHERWISE CAUSE THE CORPORATION TO FAIL TO QUALIFY AS A REIT; AND (iii) NO PERSON MAY TRANSFER SHARES OF SERIES B PREFERRED
STOCK IF SUCH TRANSFER WOULD RESULT IN THE CAPITAL STOCK OF THE CORPORATION BEING OWNED BY FEWER THAN 100 PERSONS. ANY PERSON WHO
BENEFICIALLY OR CONSTRUCTIVELY OWNS OR ATTEMPTS TO BENEFICIALLY OR CONSTRUCTIVELY OWN SHARES OF SERIES B PREFERRED STOCK IN VIOLATION
OF THE ABOVE LIMITATIONS MUST IMMEDIATELY NOTIFY THE CORPORATION. IF ANY OF THE RESTRICTIONS ON TRANSFER OR OWNERSHIP IS VIOLATED,
THE SHARES OF SERIES B PREFERRED STOCK REPRESENTED HEREBY IN VIOLATION OF SUCH RESTRICTIONS WILL BE AUTOMATICALLY TRANSFERRED TO
THE TRUSTEE OF A TRUST FOR THE BENEFIT OF ONE OR MORE CHARITABLE BENEFICIARIES. IN ADDITION, THE CORPORATION MAY REDEEM SERIES
B PREFERRED STOCK UPON THE TERMS AND CONDITIONS SPECIFIED BY THE BOARD OF DIRECTORS IN ITS SOLE DISCRETION IF THE BOARD OF DIRECTORS
DETERMINES THAT OWNERSHIP OR A TRANSFER OR OTHER EVENT MAY VIOLATE THE RESTRICTIONS DESCRIBED ABOVE. FURTHERMORE, UPON THE OCCURRENCE
OF CERTAIN EVENTS, ATTEMPTED TRANSFERS IN VIOLATION OF THE RESTRICTIONS DESCRIBED ABOVE MAY BE VOID AB INITIO. ALL TERMS IN THIS
LEGEND THAT ARE DEFINED IN THE CORPORATION’S CHARTER SHALL HAVE THE MEANINGS ASCRIBED TO THEM IN THE CORPORATION’S
CHARTER, AS THE SAME MAY BE AMENDED FROM TIME TO TIME, A COPY OF WHICH, INCLUDING THE RESTRICTIONS ON TRANSFER AND OWNERSHIP, WILL
BE FURNISHED TO EACH HOLDER OF SHARES OF SERIES B PREFERRED STOCK ON REQUEST AND WITHOUT CHARGE. REQUESTS FOR SUCH A COPY MAY BE
DIRECTED TO THE SECRETARY OF THE CORPORATION AT ITS PRINCIPAL OFFICE.

 

    	18

    	 

    

 

(12)         
Definitions. Capitalized terms used herein without definition shall have the same meanings
given to such terms in the charter.

 

Second:
The Series B Preferred Stock has been classified and designated by the Board under the authority contained in the charter.

 

Third:
These Articles Supplementary have been approved by the Board in the manner and by the vote required by law.

 

Fourth:
The undersigned President of the Corporation acknowledges these Articles Supplementary to be the act of the Corporation and, as
to all matters or facts required to be verified under oath, the undersigned President acknowledges that, to the best of his knowledge,
information and belief, these matters and facts are true in all material respects and that this statement is made under the penalties
of perjury.

 

 

 

[Signature page follows.]

 

    	19

    	 

    

 

In
witness whereof, the Corporation has caused these Articles Supplementary to be signed in its name and on its behalf
by the undersigned and attested to by the undersigned on this 23rd day of August, 2013.

 

	Attest:	 	Brookfield DTLA Fund Office Trust Investor Inc.

 

 

 

	
By: /s/ Edward F. Beisner                                                          	 	By:/s/ Michael McNamera                                                                                     

	Name:Edward F. Beisner	 	Name:Michael McNamera

	Title: Senior Vice President	 	Title: Senior Vice President

	Controller and Treasurer	 	Head of U.S. Acquisitions and DispositionsExhibit 10.1

 

LIMITED LIABILITY COMPANY AGREEMENT

 

OF

 

MPG OFFICE LLC

    	 

    	 

    

 

TABLE OF CONTENTS

 

 

	 	Page
	ARTICLE 1. DEFINED TERMS	1
	Section 1.1	Definitions	1
	Section 1.2	Rules of Construction	6
	ARTICLE 2. ORGANIZATIONAL MATTERS	6
	Section 2.1	Organization	6
	Section 2.2	Name	6
	Section 2.3	Registered Office and Agent; Principal Office	6
	Section 2.4	Term	7
	ARTICLE 3. PURPOSE	7
	Section 3.1	Purpose and Business	7
	Section 3.2	Powers	7
	Section 3.3	Company Only for Purposes Specified	8
	ARTICLE 4. CAPITAL CONTRIBUTIONS; PERCENTAGE INTERESTS	8
	Section 4.1	Capital Contributions; Percentage Interest	8
	Section 4.2	Loans by Third Parties	8
	Section 4.3	Additional Contributions	8
	Section 4.4	Other Contribution Provisions	10
	Section 4.5	No Preemptive Rights	10
	ARTICLE 5. DISTRIBUTIONS	10
	Section 5.1	Requirement and Characterization of Distributions	10
	Section 5.2	Distributions in Kind	11
	Section 5.3	Distributions Upon Liquidation	11
	Section 5.4	Distributions to Reflect Issuance of Additional Company Interests	11
	ARTICLE 6. ALLOCATIONS	11
	Section 6.1	Allocations	11
	Section 6.2	Allocations to Reflect Issuance of Additional Company Interests	11
	ARTICLE 7. MANAGEMENT AND OPERATIONS OF BUSINESS	12
	Section 7.1	Management	12
	Section 7.2	Certificate of Formation of the Company	12
	Section 7.3	Contracts with Affiliates	12
	Section 7.4	Indemnification	13
	Section 7.5	Liability of the Managing Member	14
	Section 7.6	Reimbursement of the Managing Member	15
	Section 7.7	Other Matters Concerning the Managing Member	15
	Section 7.8	Reliance by Third Parties	16
	ARTICLE 8. BOOKS, RECORDS, ACCOUNTING AND REPORTS	16
	Section 8.1	Records and Accounting	16
	Section 8.2	Fiscal Year	16
	ARTICLE 9. TAX MATTERS	17
	Section 9.1	Preparation of Tax Returns	17
	Section 9.2	Tax Elections	17
	ARTICLE 10. TRANSFERS; ADMISSION OF ADDITIONAL MEMBERS	17
	Section 10.1	Transfers; Admission Additional Members	17

 

    	i

    	 

    

 

	ARTICLE 11. DISSOLUTION
    AND LIQUIDATION	17
	Section 11.1	Dissolution	17
	Section 11.2	Winding Up	18
	Section 11.4	Compliance with Timing Requirements of Regulations	19
	Section 11.6	Rights of Members	19
	Section 11.7	Notice of Dissolution	19
	Section 11.8	Cancellation of Certificate of Formation	20
	Section 11.9	Reasonable Time for Winding-Up	20
	Section 11.10	Waiver of Partition	20
	ARTICLE 12. GENERAL PROVISIONS	20
	Section 12.1	Titles and Captions	20
	Section 12.2	Pronouns and Plurals	20
	Section 12.3	Binding Effect	20
	Section 12.4	Creditors	21
	Section 12.5	Waiver	21
	Section 12.6	Counterparts	21
	Section 12.7	Applicable Law	21
	Section 12.8	Invalidity of Provisions	21
	Section 12.9	Amendments	21
	ARTICLE 13.	21
	SERIES A PREFERRED UNITS	21
	Section 13.1	Designation and Number	21
	Section 13.2	Distributions	22
	Section 13.3	Liquidation Proceeds	23
	Section 13.4	Redemption	24
	Section 13.5	Ranking	25
	Section 13.6	Transfer Restrictions	25
	Section 13.7	No Conversion Rights	25
	Section 13.8	No Sinking Fund	25

 

    	ii

    	 

    

 

LIMITED LIABILITY COMPANY AGREEMENT

OF

MPG OFFICE LLC

 

THIS LIMITED LIABILITY COMPANY AGREEMENT (the
“Agreement”), dated as of [______], 2013, of MPG OFFICE LLC, a Maryland limited liability company (the “Company”),
is entered into by Brookfield DTLA Fund Office Trust Inc., a Maryland corporation (the “Managing Member”), and
any other person who becomes a member hereunder pursuant to the terms of this Agreement.

 

WHEREAS, MPG Office, LP, a Maryland limited
partnership (the “Former LP”), was formed on June 26, 2002;

 

WHEREAS, prior to the date hereof, Former
LP, entered into that certain Agreement and Plan of Merger, dated as of April 24, 2013, by and among Brookfield DTLA Holdings LLC,
Brookfield DTLA Fund Office Trust Investor Inc., the Managing Member, Brookfield DTLA Fund Properties LLC (“Partnership
Merger Sub”), MPG Office Trust, Inc. (“MPG”), and Former LP (the “Merger Agreement”),
pursuant to which (a) MPG agreed to merge with and into the Managing Member, with the Managing Member surviving such merger, pursuant
to and in accordance with Section 3-114 of the MGCL, and (b) the Partnership Merger Sub agreed to merge with and into the Former
LP, with the Former LP surviving such merger, pursuant to and in accordance with Section 10-208 of the Maryland Revised Uniform
Limited Partnership Act (clauses (a) and (b) above, collectively, the “Merger”); and

 

WHEREAS, following the consummation of the
Merger, Former LP was converted into the Company, a Maryland limited liability company, on [____], 2013 pursuant to the filing
of the Articles of Conversion From a Limited Partnership to a Limited Liability Company of Former LP with the State Department
of Assessments and Taxation of Maryland (the “SDAT”).

 

NOW, THEREFORE, in consideration of the
premises and the mutual covenants herein contained, effective as of the date hereof, the Managing Member agrees as follows:

 

ARTICLE
1.

DEFINED TERMS

 

Section 1.1           Definitions.

 

The following definitions shall be for all
purposes, unless otherwise clearly indicated to the contrary, applied to the terms used in this Agreement.

 

“Act” means the Maryland
Limited Liability Company Act, as amended from time to time, and any successor to such statute.

 

“Additional Funds” shall
have the meaning set forth in Section 4.3.A.

 

    	 

    	 

    

 

“Affiliate” means, with
respect to any Person, any Person directly or indirectly controlling, controlled by or under common control with such Person. Control
of any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled”
have meanings correlative to the foregoing.

 

“Agreement” shall have
the meaning set forth in the Preamble.

 

“Available Cash” means
all cash that the Managing Member reasonably determines to be available for distribution.

 

“Business Day” means any
day except a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to
be closed.

 

“Certificate” means the
Certificate of Limited Company relating to the Company filed with the SDAT on June 26, 2002, as amended from time to time
in accordance with the terms hereof and the Act.

 

“Charter” means the Articles
of Amendment and Restatement of the Managing Member filed with the Maryland State Department of Assessments and Taxation on April
19, 2013, as amended by the Articles Supplementary filed with the Maryland State Department of Assessments and Taxation on August
23, 2013.

 

“Code” means the Internal
Revenue Code of 1986, as amended from time to time or any successor statute thereto. Any reference herein to a specific section
or sections of the Code shall be deemed to include a reference to any corresponding provision of future law.

 

“Common Unit” means each
Company Unit that is not entitled to any preference with respect to any other Company Unit as to distribution or voluntary or involuntary
liquidation, dissolution or winding-up of the Company.

 

“Company” shall have the
meaning set forth in the Preamble.

 

“Company Interest” means
an ownership interest in the Company and includes any and all benefits to which a Member may be entitled as provided in this Agreement,
together with all obligations of such Person to comply with the terms and provisions of this Agreement, the Certificate and the
Act. There may be one or more classes or series of Company Interests determined by the Managing Member in its sole discretion.
A Company Interest may be expressed as a number of Company Units. Unless otherwise expressly provided for by the Managing Member
at the time of the original issuance of any Company Interests, all Company Interests shall be of the same class or series.

 

“Company Record Date” means
the record date established by the Managing Member for the distribution of Available Cash with respect to Common Units pursuant
to Section 5.1 which record date shall be the same as the record date established by the Managing Member for a distribution
to its stockholders of some or all of its portion of such distribution.

 

“Company Unit” or “Unit”
means, with respect to any class of Company Interest, a fractional, undivided share of such class of Company Interest issued pursuant
to this Agreement.

 

    	2

    	 

    

 

“Company Year” means the
fiscal year of the Company, which shall be the calendar year.

 

“Debt” means, as to any
Person, as of any date of determination, (i) all indebtedness of such Person for borrowed money or for the deferred purchase price
of property or services; (ii) all amounts owed by such Person to banks or other Persons in respect of reimbursement obligations
under letters of credit, surety bonds, guarantees and other similar instruments guaranteeing payment or other performance of obligations
by such Person; (iii) all indebtedness for borrowed money or for the deferred purchase price of property or services secured by
any lien on any property owned by such Person, to the extent attributable to such Person’s interest in such property, even
though such Person has not assumed or become liable for the payment thereof; and (iv) lease obligations of such Person which, in
accordance with generally accepted accounting principles, should be capitalized.

 

“Indemnitee” means (i)
any Person subject to a claim or demand or made or threatened to be made a party to, or involved or threatened to be involved in,
an action, suit or proceeding by reason of his or her status as (A) the Managing Member or (B) a director or officer, employee
or agent of the Company or the Managing Member, and (ii) such other Persons (including Affiliates of the Managing Member or the
Company) as the Managing Member may designate from time to time (whether before or after the event giving rise to potential liability),
in its sole and absolute discretion.

 

“IRS” means the Internal
Revenue Service, which administers the internal revenue laws of the United States.

 

“Junior
Units” means Company Units representing any class or series of Company Interest ranking, as to distributions or voluntary
or involuntary liquidation, dissolution or winding-up of the Company, junior to the Series A Preferred Units.

 

“Liquidating Event” shall
have the meaning set forth in Section 11.1.

 

“Liquidator” shall have
the meaning set forth in Section 11.2.A.

 

“Managing Member” shall
have the meaning set forth in the Recitals.

 

“Members” means the undersigned
Person and any other Person who, from time to time, is admitted as a member of the Company in accordance with this Agreement and
applicable law, so long as such Person continues as a member of the Company. Reference to a “Member” shall be to any
one of the Members.

 

“Merger” shall have the
meaning set forth in the Recitals.

 

“Merger Agreement” shall
have the meaning set forth in the Recitals.

 

“MPG” shall have the meaning
set forth in the Recitals.

 

    	3

    	 

    

 

“MPG Preferred Accrual”
means, with respect to each Series A Preferred Share, an amount equal to $[], minus the aggregate amount of distributions
made with respect to such outstanding Series A Preferred Share pursuant to this Agreement.

 

“New Securities” means
(i) any rights, options, warrants or convertible or exchangeable securities having the right to subscribe for or purchase REIT
Shares or other shares of capital stock of the Managing Member, or (ii) any Debt issued by the Managing Member that provides any
of the rights described in clause (i).

 

“Parity Preferred Unit”
means any class or series of Company Interests of the Company now or hereafter authorized, issued or outstanding expressly designated
by the Company to rank on a parity with the Series A Preferred Units with respect to distributions or rights upon voluntary or
involuntary liquidation, winding-up or dissolution of the Company, or both, as the context may require.

 

“Partnership Merger Sub”
shall have the meaning set forth in the Recitals.

 

“Percentage Interest” means,
as to a Member holding a class or series of Company Interests, its interest in such class or series as determined by dividing the
Company Units of such class or series owned by such Member by the total number of Company Units of such class then outstanding
as specified in Exhibit A attached hereto, as such Exhibit may be amended from time to time. If the Company issues
more than one class or series of Company Interests, the interest in the Company among the classes or series of Company Interests
shall be determined as set forth in the amendment to the Company Agreement setting forth the rights and privileges of such additional
classes or series of Company Interest, if any, as contemplated by Section 4.3.B.

 

“Person” means an individual
or a corporation, partnership, limited liability company, trust, unincorporated organization, association or other entity.

 

“Preferred Distribution Shortfall”
means, with respect to any Company Interests that are entitled to any preference in distributions of Available Cash pursuant to
this Agreement, the aggregate amount of the required distributions for such outstanding Company Interests for all prior distribution
periods minus the aggregate amount of the distributions made with respect to such outstanding Company Interests pursuant
to this Agreement.

 

“Regulations” means the
Treasury Regulations promulgated under the Code, as such regulations may be amended from time to time (including corresponding
provisions of succeeding regulations).

 

“REIT” means a real estate
investment trust under Sections 856 through 860 of the Code.

 

“REIT Requirements” shall
have the meaning set forth in Section 5.1.

 

“REIT Series A Preferred Share”
means a share of 7.625% Series A Cumulative Redeemable Preferred Stock, par value $.01 per share, liquidation preference $25 per
share, of the Managing Member.

 

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“REIT Share” means a share
of common stock, par value $.01 per share, of the Managing Member.

 

“SDAT” shall have the meaning
set forth in the Recitals.

 

“Series A Articles Supplementary”
means the Articles Supplementary of the Managing Member in connection with its REIT Series A Preferred Shares, as filed with the
SDAT on August 23, 2013.

 

“Series A Preferred Capital”
means an amount equal to the product of (i) the number of Series A Preferred Units then held by the Managing Member multiplied
by (ii) the sum of $25, any Preferred Distribution Shortfall and MPG Preferred Accrual per Series A Preferred Unit and any accrued
and unpaid distribution per Series A Preferred Unit for the current distribution period.

 

“Series A Preferred Unit Distribution
Payment Date” shall have the meaning set forth in Section 13.2.A hereof.

 

“Series A Preferred Units”
means the Company’s 7.625% Series A Cumulative Redeemable Company Units, with the rights, priorities and preferences set
forth herein, which for all purposes hereunder shall be treated as a continuation of the Former LP’s 7.625% Series A Cumulative
Redeemable Company Units.

 

“Series A Priority Return”
shall mean an amount equal to the 7.625% per annum on the stated value of $25 per Series A Preferred Unit (equivalent to the fixed
annual amount of $1.90625 per Series A Preferred Unit), commencing on the date of issuance of such Series A Preferred Unit. For
any partial quarterly period, the amount of the Series A Priority Return shall be prorated and computed on the basis of a 360-day
year consisting of twelve 30-day months.

 

“Subsidiary” means, with
respect to any Person, any corporation, partnership, limited liability company, joint venture or other entity of which a majority
of (i) the voting power of the voting equity securities or (ii) the outstanding equity interests is owned, directly or indirectly,
by such Person.

 

    	5

    	 

    

 

Section 1.2           Rules
of Construction

 

Words used herein, regardless of the number
or any gender used, shall be deemed and construed to include any other number, singular or plural, and any other gender, masculine,
feminine or neuter, as the context requires, and, as used herein, unless the context clearly requires otherwise, the words “hereof,”
“herein,” and “hereunder” and words of similar import shall refer to this Agreement as a whole and not
to any particular provisions hereof. References herein to any Article, Section, Schedule or Exhibit shall be to an Article, a Section,
a Schedule or an Exhibit, as the case may be, hereof unless otherwise specifically provided. The word “or” is not exclusive.
The use herein of the word “include” or “including”, when following any general statement, term or matter,
shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following
such word or to similar items or matters, whether or not non-limiting language (such as “without limitation” or “but
not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other
items or matters that fall within the broadest possible scope of such general statement, term or matter.

 

ARTICLE
2.

ORGANIZATIONAL MATTERS

 

Section 2.1           Organization

 

The Company was originally formed as a limited
partnership pursuant to the provisions of the Maryland Revised Uniform Limited Partnership Act and converted into a limited liability
company pursuant to the provisions of the Act and upon the terms and conditions set forth in this Agreement. Except as expressly
provided herein, the rights and obligations of the Company and the administration and termination of the Company shall be governed
by the Act.

 

Section 2.2           Name

 

The name of the Company is MPG Office LLC.
The Company’s business may be conducted under any other name or names deemed advisable by the Managing Member, including
the name of the Company or any Affiliate thereof. The words “Limited Liability Company,” “LLC”
or similar words or letters shall be included in the Company’s name where necessary for the purposes of complying with the
laws of any jurisdiction that so requires. The Managing Member in its sole and absolute discretion may change the name of the Company
at any time and from time to time.

 

Section 2.3           Registered
Office and Agent; Principal Office

 

The name and address of the registered office
and registered agent of the Company in the State of Maryland are CSC-Lawyers Incorporating Service Company, 7 St. Paul Street,
Suite 1660, Baltimore, MD 21202. The address of the principal office of the Company in the State of Maryland is c/o CSC-Lawyers
Incorporating Service Company, 7 St. Paul Street, Suite 1660, Baltimore, MD 21202. The principal office of the Company is located
at c/o Brookfield Office Properties Inc., Brookfield Place, 250 Vesey Street, 15th Floor, New York, NY 10281, or such
other place as the Managing Member may from time to time designate. The Company may maintain offices at such other place or places
within or outside the State of Maryland as the Managing Member deems advisable.

 

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Section 2.4           Term

 

The term of the Company shall continue in
full force and effect until December 31, 2102 or until it is dissolved pursuant to the provisions of Article 11 or
as otherwise provided by law.

 

ARTICLE
3.

PURPOSE

 

Section 3.1           Purpose
and Business

 

The purpose and nature of the business to
be conducted by the Company is (i) to conduct any business that may be lawfully conducted by a limited liability company organized
pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as
to permit the Managing Member at all times to be classified as a REIT for federal income tax purposes, unless the Managing Member
ceases to qualify as a REIT for reasons other than the conduct of the business of the Company, (ii) to enter into any partnership,
joint venture, company, real estate investment trust or other similar arrangement to engage in any business described in the foregoing
clause (i) or to own interests in any entity engaged, directly or indirectly, in any such business and (iii) to do anything necessary
or incidental to the foregoing.

 

Section 3.2           Powers

 

The Company is empowered to do any and all
acts and things necessary, appropriate, proper, advisable, incidental to or convenient for the furtherance and accomplishment of
the purposes and business described herein and for the protection and benefit of the Company, including, without limitation, full
power and authority, directly or through its ownership interest in other entities, to enter into, perform and carry out contracts
of any kind, borrow money and issue evidences of indebtedness, whether or not secured by mortgage, deed of trust, pledge or other
lien, acquire, own, manage, improve and develop real property, and lease, sell, transfer and dispose of real property; provided,
however, notwithstanding anything to the contrary in this Agreement, the Company shall not take, or refrain from taking, any action
which, in the judgment of the Managing Member, in its sole and absolute discretion, (i) absent the consent of the Managing Member,
which may be given or withheld in its sole and absolute discretion, could subject the Managing Member to any taxes under Section
857 or Section 4981 of the Code, or (ii) could violate any law or regulation of any governmental body or agency having jurisdiction
over the Managing Member or its securities, unless any such action (or inaction) under the foregoing clauses (i) or (ii) shall
have been specifically consented to by the Managing Member in writing.

 

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Section 3.3           Company
Only for Purposes Specified

 

The Company shall be a limited liability company
only for the purposes specified in Section 3.1. Except as otherwise provided in this Agreement, no Member shall have
any authority to act for, bind, commit or assume any obligation or responsibility on behalf of the Company, its properties or any
other Member. No Member, in its capacity as a Member under this Agreement, shall be responsible or liable for any indebtedness
or obligation of another Member, nor shall the Company be responsible or liable for any indebtedness or obligation of any Member,
incurred either before or after the execution and delivery of this Agreement by such Member, except as to those responsibilities,
liabilities, indebtedness or obligations incurred pursuant to and as limited by the terms of this Agreement and the Act.

 

ARTICLE
4.

CAPITAL CONTRIBUTIONS; PERCENTAGE INTERESTS

 

Section 4.1           Capital
Contributions; Percentage Interest.

 

The Managing Member shall have made capital
contributions to the Company and own Company Units of the class or series and in the amounts set forth in Exhibit A
and shall have a Percentage Interest in the Company as set forth in Exhibit A, which Percentage Interest shall be adjusted
in Exhibit A from time to time by the Managing Member to the extent necessary to reflect accurately exchanges, redemptions,
capital contributions, the issuance of additional Company Units or similar events having an effect on a Member’s Percentage
Interest.

 

Section 4.2           Loans
by Third Parties

 

Subject to Section 4.3, the Company
may incur Debt, or enter into other similar credit, guarantee, financing or refinancing arrangements for any purpose with any Person
that is not the Managing Member upon such terms as the Managing Member determines appropriate; provided that, the
Company shall not incur any Debt that is recourse to the Managing Member, except to the extent otherwise agreed to by the Managing
Member in its sole discretion.

 

Section 4.3           Additional
Contributions

 

A.           Additional
Funds. No member shall have any obligation to make additional capital contributions to the Company. The Managing Member may,
at any time and from time to time determine that the Company requires additional funds (“Additional Funds”)
for the acquisition of additional Properties or for such other Company purposes as the Managing Member may determine. Additional
Funds may be raised by the Company, at the election of the Managing Member, in any manner provided in, and in accordance with,
this Section 4.3.

 

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B.           Issuance
of Additional Company Interests. The Managing Member, in its sole and absolute discretion, may raise all or any portion of
the Additional Funds by accepting additional capital contributions of cash. The Managing Member may also accept additional capital
contributions of real property or any other non-cash assets. In connection with any such additional capital contributions (of cash
or property), the Managing Member is hereby authorized to cause the Company from time to time to issue to Members (including the
Managing Member) or other Persons (including, without limitation, in connection with the contribution of property to the Company)
additional Company Units or other Company Interests in one or more classes, or one or more series of any of such classes, with
such designations, preferences and relative, participating, optional or other special rights, powers, and duties, including rights,
powers, and duties senior to then existing Company Interests, all as shall be determined by the Managing Member in its sole and
absolute discretion subject to Maryland law, and as set forth by amendment to this Agreement, including without limitation, (i)
the allocations of items of Company income, gain, loss, deduction, and credit to such class or series of Company Interests; (ii)
the right of each such class or series of Company Interests to share in Company distributions; (iii) the rights of each such class
or series of Company Interests upon dissolution and liquidation of the Company; and (iv) the right to vote; provided, that
no such additional Company Units or other Company Interests shall be issued to the Managing Member unless either (a) (1) the additional
Company Interests are issued in connection with the grant, award, or issuance of shares of the Managing Member pursuant to Section 4.3.C
below, which shares have designations, preferences, and other rights (except voting rights) such that the economic interests attributable
to such shares are substantially similar to the designations, preferences and other rights of the additional Company Interests
issued to the Managing Member in accordance with this Section 4.3.B, and (2) the Managing Member shall make a capital contribution
to the Company in an amount equal to the net proceeds raised in connection with such issuance, or (b) the additional Company Interests
are issued to all Members holding Company Interests in the same class in proportion to their respective Percentage Interests in
such class. In the event that the Company issues additional Company Interests pursuant to this Section 4.3.B, the Managing
Member shall make such revisions to this Agreement as it determines are necessary to reflect the issuance of such additional Company
Interests.

 

C.           Issuance
of REIT Shares or Other Securities by the Managing Member. The Managing Member shall not issue any additional REIT Shares (other
than REIT Shares issued pursuant to a dividend or distribution (including any stock split) of REIT Shares to all of its stockholders
or all of its stockholders who hold a particular class of stock of the Managing Member), other shares of capital stock of the Managing
Member or New Securities unless (i) the Managing Member shall cause the Company to issue to the Managing Member, Company Interests
or rights, options, warrants or convertible or exchangeable securities of the Company having designations, preferences and other
rights, all such that the economic interests thereof are substantially similar to those of the REIT Shares, other shares of capital
stock of the Managing Member or New Securities issued by the Managing Member and (ii) the Managing Member shall make a capital
contribution of the net proceeds from the issuance of such additional REIT Shares, other shares of capital stock or New Securities,
as the case may be, and from the exercise of the rights contained in such additional New Securities, as the case may be. Without
limiting the foregoing, the Managing Member is expressly authorized to issue REIT Shares, other shares of capital stock of the
Managing Member or New Securities for no tangible value or for less than fair market value, and the Managing Member is expressly
authorized to cause the Company to issue to the Managing Member corresponding Company Interests, so long as (x) the Managing Member
concludes in good faith that such issuance of Company Interests is in the interests of the Company; and (y) the Managing Member
contributes all proceeds, if any, from such issuance and exercise to the Company.

 

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Section 4.4           Other
Contribution Provisions

 

In the event that any Member is admitted to
the Company and is given (or is treated as having received) a interest in the capital or profits of the Company in exchange for
services rendered to the Company, such transaction shall be treated by the Company and the affected Member as if the Company had
compensated such Member in cash, and the Member had contributed such cash to the capital of the Company. In addition, with the
consent of the Managing Member, in its sole discretion, one or more Members may enter into agreements with the Company, in the
form of a guarantee or contribution agreement, which have the effect of providing a guarantee of certain obligations of the Company.

 

Section 4.5           No
Preemptive Rights

 

Except to the extent expressly granted by
the Company pursuant to another agreement, no Person shall have any preemptive, preferential or other similar right with respect
to (i) additional capital contributions or loans to the Company or (ii) issuance or sale of any Company Interests.

 

ARTICLE
5.

DISTRIBUTIONS

 

Section 5.1           Requirement
and Characterization of Distributions

 

The Managing
Member shall cause the Company to distribute quarterly all, or such portion as the Managing Member may in its discretion determine,
Available Cash generated by the Company to the Members who are Members on the applicable record date with respect to such distribution,
(1) first, with respect to any class or series of Company Interests that are entitled to any preference in distribution, in accordance
with the rights of such class or series of Company Interests (and within such class or series, pro rata in proportion to the respective
Percentage Interests on the applicable record date), and (2) second, with respect to any class or series of Company Interests that
are not entitled to any preference in distributions, pro rata to each such class or series in accordance with the terms of such
class or series to the Members who are Members of such class or series on the Company Record Date with respect to such distribution
(and within each such class or series, pro rata in proportion to the respective Percentage Interests on such Company Record Date).
Unless otherwise expressly provided for herein or in an agreement, if any, entered into in connection with the creation of a new
class or series of Company Interests created in accordance with Article 4, no Company
Interest shall be entitled to a distribution in preference to any other Company Interest. The Managing Member shall take such reasonable
efforts, as determined by it in its sole and absolute discretion and consistent with its qualification as a REIT, to cause the
Company to distribute sufficient amounts to enable the Managing Member, for so long as the Managing Member has determined to qualify
as a REIT, to pay stockholder dividends that will (a) satisfy the requirements for qualifying as a REIT under the Code and Regulations
(“REIT Requirements”), and (b) except to the extent otherwise determined
by the Managing Member, avoid any federal income or excise tax liability of the Managing Member, except to the extent that a distribution
pursuant to clause (b) would prevent the Company from making a distribution to the holders of Series A Preferred Units in accordance
with Section 13.2. Except as prohibited by the Charter or Maryland law, in the event
that Brookfield DTLA Fund Properties II LLC makes a distribution to the Company, the Managing Member shall authorize, and the Company
shall make, a like distribution out of legally available funds. 

 

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Section 5.2           Distributions
in Kind

 

Except as expressly provided herein, no right
is given to any Member to demand and receive property other than cash. The Managing Member may determine, in its sole and absolute
discretion, to make a distribution in-kind to the Members of Company assets, and such assets shall be distributed in such a fashion
as to ensure that the fair market value is distributed and allocated in accordance with Articles 5, 6 and 9.

 

Section 5.3           Distributions
Upon Liquidation

 

Notwithstanding Section 5.1, proceeds
from a Liquidating Event shall be distributed to the Members in accordance with Section 11.2.

 

Section 5.4           Distributions
to Reflect Issuance of Additional Company Interests

 

In the event that the Company issues additional
Company Interests to the Managing Member or any other Member pursuant to Section 4.3.B, the Managing Member shall make such
revisions to this Article 5 as it determines are necessary to reflect the issuance of such additional Company Interests.
In the absence of any agreement to the contrary, a Member shall be entitled to the distributions set forth in Section 5.1
(without regard to this Section 5.4) with respect to the period during which the closing of its contribution to the Company
occurs, multiplied by a fraction the numerator of which is the number of days from and after the date of such closing through the
end of the applicable period, and the denominator of which is the total number of days in such period.

 

ARTICLE
6.

ALLOCATIONS

 

Section 6.1           Allocations

 

For so long as the Managing Member is the
sole member, for income tax purposes each item of income, gain, loss, deduction and credit shall be allocated 100% to the Managing
Member.

 

Section 6.2           Allocations
to Reflect Issuance of Additional Company Interests.

 

In the event that the Company issues additional
Company Interests to the Managing Member, a Managing Member or any Additional Managing Member pursuant to Section 4.3, the
Managing Member shall make such revisions to this Article 6 as it determines are necessary to reflect the terms of the issuance
of such additional Company Interests, including making preferential allocations to certain classes of Company Interests, in accordance
with any method selected by the Managing Member.

 

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ARTICLE
7.

MANAGEMENT AND OPERATIONS OF BUSINESS

 

Section 7.1           Management

 

A.           The
business and affairs of the Company shall be managed by the Managing Member, who shall have the power and authority, on behalf
of the Company, to take any action of any kind not inconsistent with the provisions of the Agreement and to do anything and everything
the Managing Member deems necessary or appropriate to carry on the business and purposes of the Company, including, without limitation,
the right to nominate and approve any nomination of directors to the board of each Subsidiary (including any Subsidiary that is
a REIT). The Managing Member shall be the “manager” (within the meaning of the Act) of the Company.

 

Section 7.2           Certificate
of Formation of the Company

 

To the extent that such action is determined
by the Managing Member to be reasonable and necessary or appropriate, the Managing Member shall file amendments to and restatements
of the Certificate and do all the things to maintain the Company as a limited liability company (or an entity in which the members
have limited liability) under the laws of the State of Maryland and to maintain the Company’s qualification to do business
as a foreign limited liability company in each other state, the District of Columbia or other jurisdiction, in which the Company
may elect to do business or own property. The Managing Member shall use all reasonable efforts to cause to be filed such other
certificates or documents as may be reasonable and necessary or appropriate for the formation, continuation, qualification and
operation of a limited liability company (or an entity in which the members have limited liability) in the State of Maryland, any
other state, or the District of Columbia or other jurisdiction, in which the Company may elect to do business or own property.

 

Section 7.3           Contracts
with Affiliates

 

A.           The
Company may lend or contribute to Persons in which it has an equity investment, and such Persons may borrow funds from the Company,
on terms and conditions established in the sole and absolute discretion of the Managing Member. The foregoing authority shall not
create any right or benefit in favor of any Person.

 

B.           The
Company may transfer assets to joint ventures, other partnerships, corporations or other business entities in which it is or thereby
becomes a participant upon such terms and subject to such conditions consistent with this Agreement and applicable law as the Managing
Member in its sole discretion deems advisable.

 

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Section 7.4           Indemnification

 

A.           To
the fullest extent permitted by law, the Company shall indemnify an Indemnitee from and against any and all losses, claims, damages,
liabilities, joint or several, expenses (including legal fees and expenses), judgments, fines, settlements, and other amounts arising
from any and all claims, demands, actions, suits or proceedings, civil, criminal, administrative or investigative, that relate
to the operations of the Company as set forth in this Agreement in which any Indemnitee may be involved, or is threatened to be
involved, as a party or otherwise, unless it is established that the act or failure to act of the Indemnitee constitutes willful
misconduct or recklessness. Without limitation, the foregoing indemnity shall extend to any liability of any Indemnitee, pursuant
to a loan guaranty or otherwise, for any indebtedness of the Company or any Subsidiary of the Company (including, without limitation,
any indebtedness which the Company or any Subsidiary of the Company has assumed or taken subject to), and the Managing Member is
hereby authorized and empowered, on behalf of the Company, to enter into one or more indemnity agreements consistent with the provisions
of this Section 7.4 in favor of any Indemnitee having or potentially having liability
for any such indebtedness. The termination of any proceeding by judgment, order or settlement does not create a presumption that
the Indemnitee did not meet the requisite standard of conduct set forth in this Section
7.4.A. The termination of any proceeding by conviction or upon a plea of nolo contendere or its equivalent, or any entry of
an order of probation prior to judgment, creates a rebuttable presumption that the Indemnitee acted in a manner contrary to that
specified in this Section 7.4.A. Any indemnification pursuant to this Section
7.4 shall be made only out of the assets of the Company, and any insurance proceeds from the liability policy covering the
Managing Member and any Indemnitee, and neither the Managing Member nor any Member shall have any obligation to contribute to the
capital of the Company or otherwise provide funds to enable the Company to fund its obligations under this Section
7.4, except to the extent otherwise expressly agreed to by such Member and the Company.

 

B.           Reasonable
expenses incurred by an Indemnitee who is a party to a proceeding may be paid or reimbursed by the Company in advance of the final
disposition of the proceeding upon receipt by the Company of (i) a written affirmation by the Indemnitee of the Indemnitee’s
good faith belief that the standard of conduct necessary for indemnification by the Company as authorized in this Section 7.4
has been met, and (ii) a written undertaking by or on behalf of the Indemnitee to repay the amount if it shall ultimately be determined
that the standard of conduct has not been met.

 

C.           The
indemnification provided by this Section 7.4 shall be in addition to any other rights to which an Indemnitee or any other
Person may be entitled under any agreement, pursuant to any vote of the Members, as a matter of law or otherwise, and shall continue
as to an Indemnitee who has ceased to serve in such capacity unless otherwise provided in a written agreement pursuant to which
such Indemnitee is indemnified.

 

D.           The
Company may, but shall not be obligated to, purchase and maintain insurance, on behalf of the Indemnitees and such other Persons
as the Managing Member shall determine, against any liability that may be asserted against or expenses that may be incurred by
such Person in connection with the Company’s activities, regardless of whether the Company would have the power to indemnify
such Person against such liability under the provisions of this Agreement.

 

E.           For
purposes of this Section 7.4, the Company shall be deemed to have requested an Indemnitee to serve as fiduciary of an employee
benefit plan whenever the performance by it of its duties to the Company also imposes duties on, or otherwise involves services
by, it to the plan or participants or beneficiaries of the plan; excise taxes assessed on an Indemnitee with respect to an employee
benefit plan pursuant to applicable law shall constitute fines within the meaning of this Section 7.4; and actions taken
or omitted by the Indemnitee with respect to an employee benefit plan in the performance of its duties for a purpose reasonably
believed by it to be in the interest of the participants and beneficiaries of the plan shall be deemed to be for a purpose which
is not opposed to the best interests of the Company.

 

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F.           In
no event may an Indemnitee subject the Member to personal liability by reason of the indemnification provisions set forth in this
Agreement.

 

G.           An
Indemnitee shall not be denied indemnification in whole or in part under this Section 7.4 because the Indemnitee had an
interest in the transaction with respect to which the indemnification applies if the transaction was otherwise permitted by the
terms of this Agreement.

 

H.           The
provisions of this Section 7.4 are for the benefit of the Indemnitees, their heirs, successors, assigns and administrators
and shall not be deemed to create any rights for the benefit of any other Persons. Any amendment, modification or repeal of this
Section 7.4 or any provision hereof shall be prospective only and shall not in any way affect the limitations on the Company’s
liability to any Indemnitee under this Section 7.4 as in effect immediately prior to such amendment, modification or repeal
with respect to claims arising from or relating to matters occurring, in whole or in part, prior to such amendment, modification
or repeal, regardless of when such claims may arise or be asserted.

 

I.           Any
indemnification hereunder is subject to, and limited by, the provisions of Section 10-107 of the Act.

 

J.          In
the event the Company is made a party to any litigation or otherwise incurs any loss or expense as a result of or in connection
with any Member’s personal obligations or liabilities unrelated to Company business, such Member shall indemnify and reimburse
the Company for all such loss and expense incurred, including legal fees, and the Company interest of such Member may be charged
therefor. The liability of a Member under this Section 7.4.K shall not be limited to such Member’s Company Interest,
but shall be enforceable against such Member personally.

 

Section 7.5           Liability
of the Managing Member

 

A.           Notwithstanding
anything to the contrary set forth in this Agreement, none of the Managing Member nor any of its officers, directors, agents or
employees shall be liable or accountable in damages or otherwise to the Company, any Members, or their successors or assigns, for
losses sustained, liabilities incurred or benefits not derived as a result of errors in judgment or mistakes of fact or law or
any act or omission if the Managing Member acted in good faith.

 

B.           Subject
to its obligations and duties as Managing Member set forth in Section 7.1.A, the Managing Member may exercise any of the
powers granted to it by this Agreement and perform any of the duties imposed upon it hereunder either directly or by or through
its agents. The Managing Member shall not be responsible for any misconduct or negligence on the part of any such agent appointed
by it in good faith.

 

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C.           Any
amendment, modification or repeal of this Section 7.5 or any provision hereof shall be prospective only and shall not in
any way affect the limitations on the liability of the Managing Member and any of its officers, directors, agents and employee’s
liability to the Company and the other Members under this Section 7.5 as in effect immediately prior to such amendment,
modification or repeal with respect to claims arising from or relating to matters occurring, in whole or in part, prior to such
amendment, modification or repeal, regardless of when such claims may arise or be asserted.

 

Section 7.6           Reimbursement
of the Managing Member

 

The Company shall be responsible for and
shall pay all expenses relating to the Company’s and the Managing Member’s organization, the ownership of its assets
and its operations. The Managing Member is hereby authorized to pay compensation for accounting, administrative, legal, technical,
management and other services rendered to the Company. Except to the extent provided in this Agreement, the Managing Member and
its Affiliates shall be reimbursed on a monthly basis, or such other basis as the Managing Member may determine in its sole and
absolute discretion, for all expenses that the Managing Member and its Affiliates incur relating to the ownership and operation
of, or for the benefit of, the Company (including, without limitation, administrative expenses). Such reimbursement shall be in
addition to any reimbursement made as a result of indemnification pursuant to Section 7.4 hereof. All payments and reimbursements
hereunder shall be characterized for federal income tax purposes as expenses of the Company incurred on its behalf, and not as
expenses of the Managing Member.

 

Section 7.7           Other
Matters Concerning the Managing Member

 

A.           Notwithstanding
any other provisions of this Agreement or any non-mandatory provision of the Act, (i) the Company shall be operated in such a manner
that will enable the Managing Member, for so long as the Managing Member has determined to qualify as a REIT, to continue to qualify
as a REIT, and (ii) any action of the Managing Member on behalf of the Company or any decision of the Managing Member to refrain
from acting on behalf of the Company, undertaken in the good faith belief that such action or omission is necessary or advisable
in order to protect the ability of the Managing Member, for so long as the Managing Member has determined to qualify as a REIT,
to (i) continue to qualify as a REIT or (ii) avoid the Managing Member incurring any taxes under Section 857 or Section 4981 of
the Code, is expressly authorized under this Agreement.

 

B.           In
the event the Managing Member exercises its rights under the Charter to purchase REIT Shares, other capital stock of the Managing
Member or New Securities, as the case may be, then the Managing Member shall cause the Company to purchase from it a number of
Company Units equal to the number of REIT Shares, other capital stock of the Managing Member or New Securities, as the case may
be, so purchased on the same terms that the Managing Member purchased such REIT Shares, other capital stock of the Managing Member
or New Securities, as the ease may be.

 

    	15

    	 

    

 

Section 7.8           Reliance
by Third Parties

 

Notwithstanding anything to the contrary in
this Agreement, any Person dealing with the Company shall be entitled to assume that the Managing Member has full power and authority
to encumber, sell or otherwise use in any manner any and all assets of the Company and to enter into any contracts on behalf of
the Company, and such Person shall be entitled to deal with the Managing Member as if it were the Company’s sole party in
interest, both legally and beneficially. Each Member hereby waives any and all defenses or other remedies which may be available
against such Person to contest, negate or disaffirm any action of the Managing Member in connection with any such dealing. In no
event shall any Person dealing with the Managing Member or its representatives be obligated to ascertain that the terms of this
Agreement have been complied with or to inquire into the necessity or expedience of any act or action of the Managing Member or
its representatives. Each and every certificate, document or other instrument executed on behalf of the Company by the Managing
Member or its representatives shall be conclusive evidence in favor of any and every Person relying thereon or claiming thereunder
that (i) at the time of the execution and delivery of such certificate, document or instrument, this Agreement was in full force
and effect, (ii) the Person executing and delivering such certificate, document or instrument was duly authorized and empowered
to do so for and on behalf of the Company and (iii) such certificate, document or instrument was duly executed and delivered in
accordance with the terms and provisions of this Agreement and is binding upon the Company.

 

ARTICLE
8.

BOOKS, RECORDS, ACCOUNTING AND REPORTS

 

Section 8.1           Records
and Accounting

 

The Managing Member shall keep or cause to
be kept at the principal office of the Company appropriate books and records with respect to the Company’s business. Any
records maintained by or on behalf of the Company in the regular course of its business may be kept on, or be in the form of any
information storage device, provided, that the records so maintained are convertible into clearly legible written
form within a reasonable period of time. The books of the Company shall be maintained, for financial and tax reporting purposes,
on an accrual basis in accordance with generally accepted accounting principles.

 

Section 8.2           Fiscal
Year

 

The fiscal year of the Company shall be the
calendar year.

 

    	16

    	 

    

 

ARTICLE
9.

TAX MATTERS

 

Section 9.1           Preparation
of Tax Returns

 

The Managing Member shall arrange for the
preparation and timely filing of all returns of Company income, gains, deductions, losses and other items required of the Company
for federal and state income tax purposes.

 

Section 9.2           Tax
Elections

 

A.           Except
as otherwise provided herein, the Managing Member shall, in its sole and absolute discretion, determine whether to make any available
election pursuant to the Code. The Managing Member shall have the right to seek to revoke any such election upon the Managing Member’s
determination in its sole and absolute discretion that such revocation is the best interests of the Company.

 

B.           The
Managing Member intends for the Company to be treated as a disregarded entity and not as an association taxable as a corporation
for U.S. federal, state and local tax purposes. Unless the Managing Member determines otherwise, it will not take any position
inconsistent with such treatment (on any tax return or otherwise).

 

ARTICLE
10.

TRANSFERS; ADMISSION OF ADDITIONAL MEMBERS

 

Section 10.1         Transfers;
Admission Additional Members. No Member may directly or indirectly transfer, sell, pledge, hypothecate or otherwise encumber
any Company Interests unless such transfer, sale, pledge, hypothecation or encumbrance has been approved in advance by the Managing
Member in its sole discretion. The Company may admit additional members at the Managing Member’s sole discretion and on terms
agreed to by the Managing Member.

 

ARTICLE
11.

DISSOLUTION AND LIQUIDATION

 

Section 11.1         Dissolution.

 

The Company
shall dissolve, and its affairs shall be wound up, upon the first
to occur of any of the following (each a “Liquidating
Event”): 

 

A.           the
expiration of its term as provided in Section 2.4;

 

B.           an
event of withdrawal of the Managing Member, as defined in the Act, unless, within 90 days after the withdrawal, all of the remaining
Members agree in writing, in their sole and absolute discretion, to continue the business of the Company and to the appointment,
effective as of the date of withdrawal, of a substitute Managing Member;

 

C.           subject
to compliance with Section 11.2 an election to dissolve the Company made by the Managing Member, in its sole and absolute
discretion;

 

    	17

    	 

    

 

D.           entry
of a decree of judicial dissolution of the Company pursuant to the provisions of the Act;

 

E.           any
sale or other disposition of all or substantially all of the assets of the Company or a related series of transactions that, taken
together, result in the sale or other disposition of all or substantially all of the assets of the Company; and

 

F.           a
final and non-appealable judgment is entered by a court of competent jurisdiction ruling that the Managing Member is bankrupt or
insolvent, or a final and non-appealable order for relief is entered by a court with appropriate jurisdiction against the Managing
Member, in each case under any federal or state bankruptcy or insolvency laws as now or hereafter in effect, unless prior to the
entry of such order or judgment all of the remaining Members agree in writing to continue the business of the Company and to the
appointment, effective as of a date prior to the date of such order or judgment, of a substitute Managing Member.

 

Section 11.2         Winding
Up

 

A.           Upon
the occurrence of a Liquidating Event, the Company shall continue solely for the purposes of winding-up its affairs in an orderly
manner, liquidating its assets, and satisfying the claims of its creditors and Members. No Member shall take any action that is
inconsistent with, or not necessary to or appropriate for, the winding-up of the Company’s business and affairs. The Managing
Member (the “Liquidator”) shall be responsible for overseeing the winding-up and dissolution of the Company
and shall take full account of the Company’s liabilities and property and the Company property shall be liquidated as promptly
as is consistent with obtaining the fair value thereof, and the proceeds therefrom (which may, to the extent determined by the
Managing Member, include shares of stock in the Managing Member) shall be applied and distributed in the following order:

 

(1)         First,
to the payment and discharge of all of the Company’s debts and liabilities to creditors other than the Members;

 

(2)         Second,
to the payment and discharge of all of the Company’s debts and liabilities to the Managing Member;

 

(3)         Third,
to the holder of the Series A Preferred Units in an amount equal to Series A Preferred Capital;
and

 

(4)         The
balance, if any, to the Members in accordance with Section 5.1.

 

The Managing Member shall not receive any additional compensation
for any services performed pursuant to this Article 11 other than reimbursement of its expenses as provided in Section
7.4.

 

    	18

    	 

    

 

B.           Notwithstanding
the provisions of Section 11.2.A which require liquidation of the assets of the Company, but subject to the order of priorities
set forth therein, if prior to or upon dissolution of the Company the Liquidator determines that an immediate sale of part or all
of the Company’s assets would be impractical or would cause undue loss to the Members, the Liquidator may, in its sole and
absolute discretion, defer for a reasonable time the liquidation of any assets except those necessary to satisfy liabilities of
the Company (including to those Members as creditors) and/or distribute to the Members, in lieu of cash, as tenants in common and
in accordance with the provisions of Section 11.2.A, undivided interests in such Company assets as the Liquidator deems
not suitable for liquidation. Any such distributions in shall be made only if, in the good faith judgment of the Liquidator, such
distributions in-kind are in the best interest of the Members, and shall be subject to such conditions relating to the disposition
and management of such properties as the Liquidator deems reasonable and equitable and to any agreements governing the operation
of such properties at such time. The Liquidator shall determine the fair market value of any property distributed in kind using
such reasonable method of valuation as it may adopt.

 

Section 11.4         Compliance
with Timing Requirements of Regulations

 

In the discretion of the Liquidator, a pro
rata portion of the distributions that would otherwise be made to the Managing Member and Members pursuant to this Article 11
may be:

 

(1)         distributed
to a trust established for the benefit of the Managing Member and Members for the purposes of liquidating Company assets, collecting
amounts owed to the Company, and paying any contingent or unforeseen liabilities or obligations of the Company or of the Managing
Member arising out of or in connection with the Company. The assets of any such trust shall be distributed to the Managing Member
and Members from time to time, in the reasonable discretion of the Liquidator or the Managing Member, in the same proportions and
the amount distributed to such trust by the Company would otherwise have been distributed to the Managing Member and Members pursuant
to this Agreement; or

 

(2)         withheld
or escrowed to provide a reasonable reserve for Company liabilities (contingent or otherwise) and to reflect the unrealized portion
of any installment obligations owed to the Company, provided, that such withheld or escrowed amounts shall be distributed
to the Managing Member and Members in the manner and priority set forth in Section 11.2.A as soon as practicable.

 

Section 11.6         Rights
of Members

 

Except as otherwise provided in this Agreement,
each Member shall look solely to the assets of the Company for the return of his capital contribution and shall have no right or
power to demand or receive property from the Managing Member. No Member shall have priority over any other Member as to the return
of his capital contributions, distributions or allocations.

 

Section 11.7         Notice
of Dissolution

 

In the event a Liquidating Event occurs or
an event occurs that would, but for provisions of Section 11.1, result in a dissolution of the Company, the Managing Member
shall, within 30 days thereafter, provide written notice thereof to each of the Members and to all other parties with whom the
Company regularly conducts business (as determined in the discretion of the Managing Member) and shall publish notice thereof in
a newspaper of general circulation in each place in which the Company regularly conducts business (as determined in the discretion
of the Managing Member).

 

    	19

    	 

    

 

Section 11.8         Cancellation
of Certificate of Formation

 

Upon the completion of the liquidation of
the Company cash and property as provided in Section 11.2, the Company shall be terminated and the Certificate and all qualifications
of the Company as a foreign limited liability company in jurisdictions other than the State of Maryland shall be cancelled and
such other actions as may be necessary to terminate the Company shall be taken.

 

Section 11.9         Reasonable
Time for Winding-Up

 

A reasonable time shall be allowed for the
orderly winding-up of the business and affairs of the Company and the liquidation of its assets pursuant to Section 11.2,
in order to minimize any losses otherwise attendant upon such winding-up, and the provisions of this Agreement shall remain in
effect between the Members during the period of liquidation.

 

Section 11.10         Waiver
of Partition

 

Each
Member hereby waives any right to partition of the Company property.

 

ARTICLE
12.

GENERAL PROVISIONS

 

Section 12.1         Titles
and Captions

 

All article or section titles or captions
in this Agreement are for convenience only. They shall not be deemed part of this Agreement and in no way define, limit, extend
or describe the scope or intent of any provisions hereof Except as specifically provided otherwise, references to “Articles”
and “Sections” are to Articles and Sections of this Agreement.

 

Section 12.2         Pronouns
and Plurals

 

Whenever the context may require, any pronoun
used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns
and verbs shall include the plural and vice versa.

 

Section 12.3         Binding
Effect

 

This Agreement shall be binding upon and inure
to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives and permitted
assigns.

 

    	20

    	 

    

 

Section 12.4         Creditors

 

None of the provisions of this Agreement shall
be for the benefit of, or shall be enforceable by, any creditor of the Company.

 

Section 12.5         Waiver

 

No failure or delay by any party to insist
upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy
consequent upon any breach thereof shall constitute waiver of any such breach or any other covenant, duty, agreement or condition.

 

Section 12.6         Counterparts

 

This Agreement may be executed in counterparts,
all of which together shall constitute one agreement binding on all the parties hereto, notwithstanding that all such parties are
not signatories to the original or the same counterpart. Each party shall become bound by this Agreement immediately upon affixing
its signature hereto.

 

Section 12.7         Applicable
Law

 

This Agreement shall be construed in accordance
with and governed by the laws of the State of Maryland, without regard to the principles of conflicts of law.

 

Section 12.8         Invalidity
of Provisions

 

If any provision of this Agreement is or becomes
invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained
herein shall not be affected thereby.

 

Section 12.9         Amendments

 

This Agreement may be amended only by written
instrument executed by the Managing Member.

 

ARTICLE 13.

 

SERIES A PREFERRED UNITS

 

Section 13.1         Designation
and Number

 

A series of Company Units in the Company designated
as the “7.625% Series A Cumulative Redeemable Preferred Units” (the “Series A Preferred Units”)
is hereby established. The number of Series A Preferred Units shall be 10,000,000. The Company agrees that an amount equal to the
MPG Preferred Accrual (without deduction for any distributions) shall be deemed to be accrued and unpaid on each Series A Preferred
Unit as of the date hereof.

 

    	21

    	 

    

 

Section 13.2         Distributions

 

A.           Payment
of Distributions. Subject to the rights of holders of Parity Preferred Units as to the payment of distributions, pursuant to
Section 5.1, the Managing Member, as holder of the Series A Preferred Units, will be entitled to receive, when, as and if
declared by the Company acting through the Managing Member, out of Available Cash, cumulative preferential cash distributions in
an amount equal to the Series A Priority Return plus any amounts then outstanding in respect of the MPG Preferred Accrual. Such
distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly
periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not
calendar quarters) in arrears, on the last calendar day of January, April, July and October, of each year commencing on the first
of such dates to occur after the original date of issuance, and (ii) in the event of a redemption of Series A Preferred Units,
on the redemption date (each a “Series A Preferred Unit Distribution Payment Date”). If any date on which distributions
are to be made on the Series A Preferred Units is not a Business Day, then payment of the distribution to be made on such date
will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such
delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately
preceding Business Day, in each case with the same force and effect as if made on such date.

 

B.           Distributions
Cumulative. Notwithstanding the foregoing, distributions on the Series A Preferred Units will accrue whether or not the terms
and provisions set forth in this Section 13.2 hereof at any time prohibit the current payment of distributions whether or not the
Company has earnings, whether or not there are funds legally available for the payment of such distributions and whether or not
such distributions are authorized.

 

C.           Priority
as to Distributions. 

 

(i)          Except
as provided in Section 13.2.C.(ii) below, no distributions shall be declared or paid or set apart for payment and no other
distribution of cash or other property may be declared or made on or with respect to any Parity Preferred Unit or Junior Unit as
to distributions (other than a distribution paid in Junior Units as to distributions and upon liquidation) for any period, nor
shall any Junior Units or Parity Preferred Units as to distributions or upon liquidation be redeemed, purchased or otherwise acquired
for any consideration and no other distribution of cash or other property may be made, directly or indirectly, on or with respect
thereto by the Company (except by conversion into or exchange for Junior Units as to distributions and upon liquidation, and except
for the redemption of Company Interests corresponding to any REIT Series A Preferred Shares, Parity Preferred Shares (as defined
in the REIT Series A Articles Supplementary) or Junior Stock (as defined in the REIT Series A Articles Supplementary) to be purchased
by the Managing Member pursuant to the Charter to the extent necessary to preserve the Managing Member’s status as a real
estate investment trust, provided that such redemption shall be upon the same terms as the corresponding stock purchase
pursuant to the Charter), unless full cumulative distributions on the Series A Preferred Units (and the MPG Preferred Accrual)
for all past periods and the then current period shall have been or contemporaneously are (i) declared and paid in cash or (ii)
declared and a sum sufficient for the payment thereof in cash is set apart for such payment.

 

    	22

    	 

    

 

(ii)         When
distributions are not paid in full (or a sum sufficient for such full payment is not so set apart) upon the Series A Preferred
Units (including the MPG Preferred Accrual) and any other Parity Preferred Units as to distributions, all distributions declared
upon the Series A Preferred Units (including the MPG Preferred Accrual) and each such other classes or series of Parity Preferred
Units as to the payment of distributions shall be declared pro rata so that the amount of distributions declared per Series A Preferred
Unit (including the MPG Preferred Accrual) and such other classes or series of Parity Preferred Units shall in all cases bear to
each other the same ratio that accrued distribution per Series A Preferred Unit (including the MPG Preferred Accrual) and such
other class or series Parity Preferred Units (which shall not include any accrual in respect of unpaid distribution on such other
class or series of Parity Preferred Units for prior distribution periods if such other class or series of Parity Preferred Unit
does not have a cumulative distribution) bear to each other. No interest, or sum of money in lieu of interest, shall be payable
in respect of any distribution payment or payments on the Series A Preferred Units which may be in arrears.

 

D.           No
Further Rights. The Managing Member, solely in its capacity as holder of the Series A Preferred Units, shall not be entitled
to any distributions, whether payable in cash, other property or otherwise, in excess of the full cumulative distributions described
herein. Any distribution payment made on the Series A Preferred Units shall first be credited against the earliest accrued but
unpaid distribution due with respect to such Series A Preferred Units which remain payable. Accrued but unpaid distributions on
the Series A Preferred Units will accumulate as of the Series A Preferred Unit Distribution Payment Date on which they first become
payable.

 

Section 13.3         Liquidation
Proceeds

 

A.           Distributions.
Upon any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Company, distributions on the Series
A Preferred Units shall be made in accordance with Article 11 hereof.

 

B.           Notice.
Written notice of any such voluntary or involuntary liquidation, dissolution or winding-up of the Company, stating the payment
date or dates when, and the place or places where, the amounts distributable in such circumstances shall be payable, shall be given
by the Managing Member pursuant to Section 11.7 hereof.

 

C.           No
Further Rights. After payment of the full amount of the liquidating distributions to which they are entitled, the Managing
Member, solely in its capacity as holder of the Series A Preferred Units will have no right or claim to any of the remaining assets
of the Company.

 

D.           Consolidation,
Merger or Certain Other Transactions. The voluntary sale, conveyance, lease, exchange or transfer (for cash, shares of stock,
securities or other consideration) of all or substantially all of the property or assets of the Company to, or the consolidation
or merger or other business combination of the Company with or into, any corporation, trust or other entity (or of any corporation,
trust or other entity with or into the Company) shall not be deemed to constitute a liquidation, dissolution or winding-up of the
Company.

 

    	23

    	 

    

 

Section 13.4         Redemption

 

A.           Redemption.
If the Managing Member elects to redeem any of the REIT Series A Preferred Shares in accordance with the terms of the REIT Series
A Articles Supplementary, the Company shall, on the date set for redemption of such REIT Series A Preferred Shares, redeem the
number of Series A Preferred Units equal to the number of REIT Series A Preferred Shares for which the Managing Member has given
notice of redemption pursuant to Section 5 of the REIT Series A Articles Supplementary, at a redemption price, payable in cash,
equal to the product of (i) the number of Series A Preferred Units being redeemed, and (ii) the sum of $25, any Preferred Distribution
Shortfall and any MPG Preferred Accrual per Series A Preferred Unit, and any accrued and unpaid distribution per Series A Preferred
Unit for the current distribution period.

 

B.           Procedures
for Redemption. The following provisions set forth the procedures for redemption:

 

(i)          Notice
of redemption will be given by the Managing Member to the Company concurrently with the notice of the Managing Member sent to the
holders of its REIT Series A Preferred Shares in connection with such redemption. Such notice shall state: (A) the redemption date;
(B) the redemption price; (C) the number of Series A Preferred Units to be redeemed; (D) the place or places where the Series A
Preferred Units are to be surrendered for payment of the redemption price; and (E) that distributions on the Series A Preferred
Units to be redeemed will cease to accumulate on such redemption date. If less than all of the Series A Preferred Units are to
be redeemed, the notice shall also specify the number of Series A Preferred Units to be redeemed.

 

(ii)         On
or after the redemption date, the Managing Member shall present and surrender the certificates, if any, representing the Series
A Preferred Units to the Company at the place designated in the notice of redemption and thereupon the redemption price of such
Units (including all accumulated and unpaid distributions up to the redemption date) shall be paid to the Managing Member and each
surrendered Unit certificate, if any, shall be canceled. If fewer than all the Units represented by any such certificate representing
Series A Preferred Units are to be redeemed, a new certificate shall be issued representing the unredeemed shares.

 

(iii)        From
and after the redemption date (unless the Company defaults in payment of the redemption price), all distributions on the Series
A Preferred Units designated for redemption in such notice shall cease to accumulate and all rights of the Managing Member, except
the right to receive the redemption price thereof (including all accumulated and unpaid distributions up to the redemption date),
shall cease and terminate, and such Series A Preferred Units shall not be deemed to be outstanding for any purpose whatsoever.
At its election, the Company, prior to a redemption date, may irrevocably deposit the redemption price (including accumulated and
unpaid distributions to the redemption date) of the Series A Preferred Units so called for redemption in trust for the Managing
Member with a bank or trust company, in which case the redemption notice to the Managing Member shall (A) state the date of such
deposit, (B) specify the office of such bank or trust company as the place of payment of the redemption price and (C) require the
Managing Member to surrender the certificates, if any, representing such Series A Preferred Units at such place on or about the
date fixed in such redemption notice (which may not be later than the redemption date) against payment of the redemption price
(including all accumulated and unpaid distributions to the redemption date). Any monies so deposited which remain unclaimed by
the Managing Member at the end of two years after the redemption date shall be returned by such bank or trust company to the Company.

 

    	24

    	 

    

 

Section 13.5         Ranking

 

The Series A Preferred Units shall, with respect
to distribution rights and rights upon voluntary or involuntary liquidation, winding-up or dissolution of the Company, rank (i)
senior to the Common Units and to all other Company Interests the terms of which provide that such Company Interests shall rank
junior to the Series A Preferred Units; (ii) on a parity with all Parity Preferred Units; and (iii) junior to all Company Units
which rank senior to the Series A Preferred Units.

 

Section 13.6         Transfer
Restrictions

 

The Series A Preferred Units shall not be
transferable.

 

Section 13.7         No
Conversion Rights

 

The Series A Preferred Units shall not be
convertible into any other class or series of interest in the Company.

 

Section 13.8         No
Sinking Fund

 

No sinking fund shall be established for the
retirement or redemption of Series A Preferred Units.

 

    	25

    	 

    

 

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

 

	 	MEMBER:
	 	 
	 	BROOKFIELD DTLA FUND OFFICE TRUST INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

Signature Page to LLC Agreement of MPG
Office LLC

 

    	 

    	 

    

 

EXHIBIT A

 

Initial Capital Contributions

 

	Member	 	Capital
 Contribution	 	 	Company
 Interest
	 	 	 	 	 	 
	Managing Member	 	$	0	 	 	___ Series A Preferred Units
	 	 	 	 	 	 	 
	Managing Member	 	$	 [·]	 	 	___Common Units

  

Signature Page to LLC Agreement of MPG
Office LLC

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