Document:

exh10_21.htm

EXHIBIT 10.2.1

AMENDMENT TO

EXCHANGE RIGHTS AGREEMENT

This Amendment to the Exchange Rights Agreement (the “Exchange Agreement”) dated as of December 29, 1998 by and among Mission West Properties, Inc., a Maryland corporation (the “Company”), each of Mission West Properties, L.P., a Delaware limited partnership (“MWP”), Mission West Properties, L.P. I, a Delaware limited partnership (“MWP I”), Mission West Properties, L.P. II, a Delaware limited partnership (“MWP II”) and Mission West Properties, L.P. III, a Delaware limited partnership (MWP III, and collectively with MWP, MWP I and MWP II, the “Operating Partnership”), and each of the limited partners in the Operating Partnership listed on the signature pages thereto (the “Limited Partners”), is hereby approved and adopted in accordance with Section 12.9 of the Agreement with the consent of a majority-in-interest of the Limited Partners who are parties to the Agreement.  Capitalized terms not otherwise defined in this Amendment have the meanings provided under the Agreement;

WHEREAS, pursuant to a Partnership Division Agreement dated as of December 21, 2011, MWP I formed Mission West Properties, L.P. IV, a Delaware limited partnership (“MWP IV”), contributed certain properties to MWP IV in exchange for a certain number of L.P. Units of partnership interests in MWP IV and distributed the L.P. Units of MWP IV pro rata to the Company and the limited partners of MWP I in proportion to and in redemption and cancellation of the same number of L.P. Units of MWP I as the number of L.P. Units in MWP IV that were distributed by MWP I;

 

WHEREAS, pursuant to a Partnership Division Agreement dated as of December 21, 2011, MWP II formed Mission West Properties, L.P. V, a Delaware limited partnership (“MWP V”), contributed certain properties to MWP V in exchange for a certain number of L.P. Units of partnership interests in MWP V and distributed the L.P. Units of MWP V pro rata to the Company and limited partners of MWP II in proportion to and in redemption and cancellation of the same number of L.P. Units of MWP II as the number of L.P. Units in MWP V that were distributed by MWP II; and

 

WHEREAS, the parties hereto are entering into this Amendment to the Exchange Agreement to provide for the rights of the Limited Partners of MWP IV and MWP V to (i) tender their L.P. Units in those partnerships in exchange for shares of the Company’s common stock, cash or a combination of common stock and cash, on the terms and conditions set forth herein, and (ii) the delivery of registered shares of common stock to them upon any such tender pursuant to the terms of the Exchange Agreement.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenant set forth herein, the parties hereto agree as follows:

 

1. The undersigned Limited Partners approve this Amendment to add MWP IV and MWP V and the Limited Partners thereof as parties to the Exchange Agreement, which additions shall be effective from the date hereof with respect to all of the Limited Partners and L.P. Units MWP IV and MWP V outstanding from time to time in accordance with the terms of the Exchange Agreement and the Partnership Agreements of each of MWP IV and MWP V.  

 

 

  

  

  

 

Pursuant to this Amendment all of the terms of the Exchange Agreement shall be applicable to MWP IV, MWP V and their respective Limited Partners and L.P. Units, and by their signatures to this Amendment each of them hereby agrees to be bound by the terms of the Exchange Agreement.

 

2. Survival.  Except as otherwise expressly provided herein, the Exchange Agreement will continue in full force and effect, in accordance with its terms.  The provisions of Section 12 of the Exchange Agreement are incorporated by reference in this Amendment.

 

3. Miscellaneous.  This Amendment and waivers and consents hereunder shall be governed by the internal laws of California.  This Amendment constitutes the full and entire understanding and agreement among the parties with regard to the subject matter contained herein, and supersedes all prior written and oral agreements, representations and commitments, if any, among the parties with respect to such subject matter, provided that each party hereto hereby agrees to take such other actions and execute such additional documents as may be necessary to effectuate the terms of this Amendment. This Amendment may be executed in counterparts and delivered by electronic facsimile transmission, and each signed counterpart transmitted by electronic facsimile shall be considered an original, but all of which together shall constitute the same instrument. Any provision of this Amendment may be waived or modified only in accordance with Section 12.9 of the Agreement.

 

[Remainder of page intentionally left blank]

 

  

-2-

  

In Witness Whereof, the parties hereto have hereunto executed this Agreement as of the first date written above, and a party’s signature hereon in any capacity shall constitute such party’s execution of this Agreement in all capacities which the party holds for purposes of this Agreement.

 

 

Mission West Properties, Inc. a Maryland corporation

 

By: /s/ Raymond V. Marino                                                                

Its: President & COO  

                                                              

 

Mission West Properties, L.P., a Delaware limited partnership

 

By:        Mission West Properties, Inc.

Its:        General Partner

 

By: /s/ Raymond V. Marino                                                         

Its:      President & COO                                                    

 

 

By:        Mission West Properties, L.P I, a Delaware limited partnership

 

By:        Mission West Properties, Inc.

Its:        General Partner

 

By: /s/ Raymond V. Marino                                                         

Its:      President & COO                                                    

 

 

By:        Mission West Properties, L.P II, a Delaware limited partnership

 

By:        Mission West Properties, Inc.

Its:        General Partner

 

By: /s/ Raymond V. Marino                                                         

Its:      President & COO                                                    

 

 

[Signature Pages of Exchange Rights Agreement]

 

 

  

  

  

By:        Mission West Properties, L.P III, a Delaware limited partnership

 

By:        Mission West Properties, Inc.

Its:        General Partner

 

By:      /s/ Raymond V. Marino

Its:      President & COO                                                    

 

 

By:        Mission West Properties, L.P IV, a Delaware limited partnership

 

By:        Mission West Properties, Inc.

Its:        General Partner

 

By:      /s/ Raymond V. Marino

Its:      President & COO                                                    

 

 

By:        Mission West Properties, L.P. V, a Delaware limited partnership

 

By:        Mission West Properties, Inc.

Its:        General Partner

 

By:      /s/ Raymond V. Marino

Its:      President & COO                                                    

 

 

1981 Kara Ann Berg Trust

 

By: /s/ Clyde J. Berg                                                                

      Clyde J. Berg, Trustee

 

 

[Signature Pages of Exchange Rights Agreement]

 

 

  

  

  

 

 

Berg & Berg Enterprises Inc., a California corporation

 

By: /s/ Carl E. Berg                                                                

      Carl E. Berg

      Its:  President

 

 

Berg Living Trust UTA dated May 1, 1981

 

By: /s/ Carl E. Berg                                                                

      Carl E. Berg

      Its:  Trustee

 

By: /s/ Mary Ann Berg                                                                

                                                                                                      Mary Ann Berg

                                                                                                      Its:  Trustee

 

 

 

[Signature Pages of Exchange Rights Agreement]

 

 

  

  

  

Clyde J. Berg, Trustee, 1995 Clyde J. Berg Revocable Trust, dated April 4, 1995

 

By: /s/ Clyde J. Berg                                                                

       Clyde J. Berg

       Its:  Trustee

By: /s/ Kara A. Berg                                                                

      Kara A. Berg

 

By: /s/ Carl E. Berg                                                                

       Carl E. Berg

 

By: /s/ Mary Anne Berg                                                                

       Mary Ann Berg

 

By: /s/ Clyde J. Berg                                                                

       Clyde J. Berg

 

West Coast Venture Capital, Inc.

 

By: /s/ Carl E. Berg                                                                

Its:        President

 

 

 

[Signature Pages of Exchange Rights Agreement]exh10_295.htm

EXHIBIT 10.29.5

PROMISSORY NOTE

	
$1,966,840.39

	
January 5, 2012

Mission West Properties, L.P., Mission West Properties, L.P. I, Mission West Properties, L.P. II, and Mission West Properties, L.P. III (collectively referred to herein as “Mission”)

	
promises to pay to

	
The Berg Group

the principal sum of One Million Nine Hundred Sixty Six Thousand Eight Hundred Forty Dollars and 39 Cents ($1,966,840.39),

plus interest at the rate of 30 day LIBOR plus 1.75 percent per annum (compounded on the basis of a 366-day year) beginning on the 5th day of January, 2012.

Should interest not so be paid, it shall thereafter bear like interest as the principal, but such unpaid interest so compounded shall not exceed an amount equal to simple interest on the unpaid principal at the maximum rate permitted by law. Should default be made in the payment of any installment of interest when due, the whole sum of principal and interest shall become immediately due and payable at the option of the holder of this note.  Should suit be commenced or an attorney employed to enforce the payment of this note, we agree to pay such additional sum as the court may adjudge as reasonable attorney’s fees in said suit. Principal and interest are payable in lawful money of the United States.

Principal and interest are payable in lawful money of the United States no later than January 31, 2012.  Notwithstanding the above, Mission shall use its best efforts to repay the loan as soon as possible using all available sources of cash, including but not limited to cash generated from operations and cash available from any other financing sources.

	
Signed By:

	
/s/ Raymond V. Marino

	  	
1/5/2012

	  	
Raymond V. Marino, Pres. & COO

	  	
Date

	  	
Mission West Properties, Inc.

	  	  
	  	
Its General Partner

	  	  

	
Acknowledged:

	
/s/ Carl E. Berg

	  	
1/5/2012

	  	
Carl E. Berg

	  	
Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00201-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00201-of-00352.parquet"}]]