Document:

Form of Subscription Rights Certificate

 Exhibit 4.3.2 

 

 

							
		 		  	

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 BankAtlantic Bancorp, Inc.
	  	  
 250 Royall Street, Suite V

Canton MA 02021

Information Agent:

Georgeson
 Telephone
888 219 8320
	  	
	
 

	 		  	  	
	 	  
 MR A SAMPLE

DESIGNATION (IF ANY)
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ADD 2
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 Subscription Rights 12345678901234 

 
  
 BANKATLANTIC BANCORP, INC. (THE “COMPANY”) RIGHTS OFFERING 
  

THIS RIGHTS OFFERING EXPIRES AT 5:00 P.M., NEW YORK CITY TIME, ON JUNE 16, 2011, UNLESS EXTENDED IN THE SOLE DISCRETION OF THE COMPANY (SUCH DATE AND
TIME, AS IT MAY BE EXTENDED, THE “EXPIRATION DATE”). 
 The Company has distributed, at no charge, to each holder of record of the
Company’s Class A Common Stock, par value $0.01 per share (“Class A Common Stock”), and Class B Common stock, par value $0.01 per share (“Class B Common Stock”), as of the close of business on May 12, 2011 (the “Record
Date”), 0.624 subscription rights for each share of Class A Common Stock and Class B Common Stock held as of the close of business on the Record Date. No fractional subscription rights were issued. Instead, the number of subscription rights
issued to each shareholder was rounded up to the next largest whole number. Each subscription right entitles the holder thereof to subscribe for one share of Class A Common Stock (the “Basic Subscription Right”) at a subscription price of
$0.75 per share. A holder of subscription rights who exercises his, her or its Basic Subscription Rights in full may also request to purchase, pursuant to an over-subscription option (the “Over-Subscription Option”), additional shares of
Class A Common Stock that are not subscribed for by other shareholders pursuant to their Basic Subscription Rights at the $0.75 per share subscription price, subject to acceptance by the Company and availability and allocation as described in the
Prospectus (as hereinafter defined). 
 The terms and conditions of the Rights Offering are set forth in the Company’s prospectus
supplement, dated May 16, 2011, and accompanying base prospectus, dated May 4, 2010 (collectively, as amended or further supplemented, the “Prospectus”), which is incorporated into this Subscription Rights Certificate by reference.
Capitalized terms used but not defined herein have the meanings set forth in the Prospectus. The owner of this Subscription Rights Certificate is entitled to exercise the Basic Subscription Rights for the number of shares of Class A Common Stock
shown on this Subscription Rights Certificate. In addition, as described above and in the Prospectus, holders who exercise their Basic Subscription Rights in full may also request to purchase additional shares pursuant to the Over-Subscription
Option. 
 The subscription rights are non-transferable, except by operation of law. The subscription rights will not be listed on the New York
Stock Exchange or any other securities exchange or quoted on any automated quotation system. 
 METHOD OF EXERCISE OF
SUBSCRIPTION RIGHTS 
 IN ORDER TO EXERCISE YOUR SUBSCRIPTION RIGHTS, COMPLETE AND SIGN THIS SUBSCRIPTION RIGHTS CERTIFICATE AND RETURN
IT TOGETHER WITH PAYMENT IN FULL FOR THE SHARES SUBSCRIBED FOR (INCLUDING THOSE SUBSCRIBED FOR PURSUANT TO THE OVER-SUBSCRIPTION OPTION) TO THE SUBSCRIPTION AGENT, COMPUTERSHARE TRUST COMPANY, N.A. TO BE TIMELY, THE SUBSCRIPTION AGENT MUST RECEIVE
THE PROPERLY COMPLETED AND EXECUTED SUBSCRIPTION RIGHTS CERTIFICATE AND PAYMENT IN FULL FOR THE SHARES SUBSCRIBED FOR (INCLUDING THOSE SUBSCRIBED FOR PURSUANT TO THE OVER-SUBSCRIPTION OPTION) ON OR BEFORE THE EXPIRATION DATE. 

ALTERNATIVELY, YOU CAN SUBSCRIBE FOR SHARES BY USING A NOTICE OF GUARANTEED DELIVERY. IF A NOTICE OF GUARANTEED DELIVERY IS USED, THE SUBSCRIPTION
AGENT MUST RECEIVE (I) THE PROPERLY COMPLETED AND EXECUTED NOTICE OF GUARANTEED DELIVERY AND PAYMENT IN FULL FOR THE SHARES SUBSCRIBED FOR (INCLUDING THOSE SUBSCRIBED FOR PURSUANT TO THE OVER-SUBSCRIPTION OPTION) ON OR BEFORE THE EXPIRATION DATE AND
(II) THE PROPERLY COMPLETED AND EXECUTED SUBSCRIPTION RIGHTS CERTIFICATE ON OR BEFORE 5:00 P.M., NEW YORK CITY TIME, ON THE THIRD BUSINESS DAY AFTER THE EXPIRATION DATE. 
 Full payment for the shares of Class A Common Stock subscribed for must be paid in U.S. dollars by check or bank draft drawn upon a U.S. bank or postal, telegraphic or express money order payable to
“Computershare Trust Company, N.A. acting as Subscription Agent for BankAtlantic Bancorp, Inc.” 
 For a complete description of
the terms and conditions of the Rights Offering, please refer to the Prospectus. Copies of the Prospectus are available upon request from Georgeson Inc., the Information Agent for the Rights Offering (Shareholders: (888) 219-8320; Banks and Brokers:
(212) 440-9800). 
 Stock certificates, if any, for the shares of Class A Common Stock acquired pursuant to the exercise of Basic
Subscription Rights will be mailed promptly after the Expiration Date and after full payment for the shares has been received and cleared. Stock certificates, if any, for the shares of Class A Common Stock acquired pursuant to the exercise of the
Over-Subscription Option will be mailed as soon as practicable after full payment has been received and cleared and all determinations, allocation and adjustments described in the Prospectus have been effected. In the event that shares of Class A
Common Stock are not represented by certificates, such shares will be deposited in a book-entry account held on the owner’s behalf in accordance with the applicable time period described in the preceding sentences. Any excess payment to be
refunded to a shareholder will be mailed by the Subscription Agent to such shareholder as promptly as possible. You will not be paid any interest on funds paid to the Subscription Agent, regardless of whether the funds are disbursed to the Company
or returned to you. Delivery to an address other than one of the addresses listed on the information sheet accompanying this Subscription Rights Certificate will not constitute valid delivery. 

 

											
	Holder ID	  	COY	  	Class	  	Rights Qty Issued	  	Rights Cert #	  	
	123456789	  	BBX	  	Subscription Rights	  	XXX.XXXXXX	  	12345678	  	

  

									
	Signature of Owner and U.S. Person for Tax Certification	  		 	Signature of Co-Owner (if more than one registered holder listed)	  		  	Date (mm/dd/yyyy)
	 	  		 	 	  		  	 
	 	  		 	 	  		  	 
	 	  		 	 	  		  	 

  

													
	n	 	1 2 3 4 5 6 7 8	 	C L S	 	X R T 2	 	C O Y C	 	1 2 3 4 5 6 . 7 8	  	+

 01CBSB

											
	PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY
			
	 SECTION 1:             EXERCISE AND
SUBSCRIPTION:
	  		  	
						
	Basic Subscription Rights:	 		 		 		  		  	
	I subscribe for	 		 	 	 	    shares at $0.75 each =	  	    $                         
   	  	(Line 1)
		 		 	(no. of new shares)	 	        (Subscription Price)	  		  	
	
	Over-Subscription Option: IF YOU HAVE FULLY EXERCISED YOUR BASIC SUBSCRIPTION RIGHTS AND WISH TO REQUEST TO PURCHASE ADDITIONAL SHARES PURSUANT TO THE
OVER-SUBSCRIPTION OPTION:
	I apply for	 		 	 	 	  

    additional shares at $0.75 each =
	  	    $                         
   	  	  
 (Line 2)

		 		 	(no. of additional shares)	 	        (Subscription Price)	  		  	
	
	Total Amount Enclosed (sum of amounts set forth in lines 1 and 2 above) =
$                            

 

	 ̈	Check here if the Basic Subscription Rights exercised hereby do not account for all of the Basic Subscription Rights represented by this Subscription Rights Certificate
and you wish to receive a new Subscription Rights Certificate evidencing the balance of your Basic Subscription Rights. 

  

											
	 SECTION 2:             SUBSCRIPTION
AUTHORIZATION:

	
	I acknowledge that I have received the Prospectus for this Rights Offering and I hereby irrevocably subscribe for the number of shares of Class A Common Stock
indicated above on the terms and conditions set forth in the Prospectus.
	
	Signature of Subscriber(s)
	
	 
	
	 
	(and address if different than that listed on this Subscription Rights Certificate)
	
	Telephone Number (including area code)
                                        

	
	 SECTION 3:             SPECIAL
ISSUANCE INSTRUCTIONS (IF YOU COMPLETE THIS SECTION, YOU MUST ALSO COMPLETE SECTIONS 4 AND 5):

	
	 The subscription rights are not transferable, except by operation of law. By executing below, you hereby represent and warrant that the
person in whose name you are requesting that we issue the Class A Common Stock is a transferee by operation of law. Evidence satisfactory to the Company that any such permitted transfer is proper must be delivered by mail, express mail or
overnight courier to Computershare Trust Company, N.A. at the address specified on the information sheet accompanying this Subscription Rights Certificate on or prior to the Expiration Date.

	
	 Complete the following ONLY if the shares of Class A Common Stock subscribed for are to be issued in a name other than that of the
registered holder.

		
	Issue Shares to:
                                         
                           	 	    Soc. Sec. #/Tax ID #:
                                         
                   
				
	Address:
                                         
                                       	 		  		  	
	
	
SECTION 4:             ACKNOWLEDGMENT (TO BE COMPLETED ONLY IF YOU
COMPLETED SECTION 3. IF YOU COMPLETE THIS SECTION, YOU MUST ALSO COMPLETE SECTION 5):

	
	 I/We acknowledge receipt of the Prospectus and understand that, after delivery to Computershare Trust Company, N.A. as Subscription Agent
for BankAtlantic Bancorp, Inc., I/we may not modify or revoke this Subscription Rights Certificate. Under penalties of perjury, I/we certify that the information contained herein, including the social security number or taxpayer identification
number given above, is correct.

	
	 The signature below must correspond with the name of the registered holder exactly as it appears on the books of the Company’s
transfer agent without any alteration or change whatsoever.

		
	Signature(s) of Registered Holder:
                                         
   	 	    Date:
                                         
                           
	
	 If signature is by trustee(s), executor(s), administrator(s), guardian(s), attorney(s)-in-fact, agent(s), officer(s) of a corporation or
another acting in a fiduciary or representative capacity, please provide the following information.

	
	Name:
                                         
       Capacity:
                                         
               Soc. Sec. #/Tax ID #:
                                        

		
	Address:
                                         
                                       	 	    Telephone Number (including area code):
                            
	
	 SECTION 5:             GUARANTEE OF
SIGNATURES (TO BE COMPLETED ONLY IF YOU COMPLETED SECTIONS 3 AND 4):

	
	All subscription rights holders who specify special issuance or delivery instructions must have their signatures guaranteed by an Eligible Guarantor Institution, as
defined in Rule 17Ad-15 of the Securities Exchange Act of 1934.
		
	Name of Firm:
                                         
                               	 	    Authorized Signature:
                                         
               
		
	Address:
                                         
                                        
	 	    Name:
                                         
                                        

		
	City, State, Zip Code:
                                         
                   	 	    Title:
                                         
                                         
 
				
	Telephone Number (including area code):
                            	 		  		  	

 BANKATLANTIC BANCORP, INC. RIGHTS OFFERING 

BankAtlantic Bancorp, Inc. (the “Company”) is conducting a rights offering (the “Rights Offering”) pursuant to which the holders of
the Company’s Class A Common Stock, par value $0.01 per share (the “Class A Common Stock”), and Class B Common Stock, par value $0.01 per share (the “Class B Common Stock,” and collectively with the Class A Common
Stock, the “Common Stock”), as of the close of business on May 12, 2011 (the “Record Date”) received 0.624 subscription rights for each share of Common Stock held of record as of the close of business on the Record Date. No
fractional subscription rights were issued. Instead, the number of subscription rights received by each shareholder was rounded up to the next largest whole number. Each subscription right entitles the holder thereof to subscribe for one share of
Class A Common Stock (the “Basic Subscription Right”) at a subscription price of $0.75 per share. A holder of subscription rights who exercises his, her or its Basic Subscription Rights in full may also request to purchase, pursuant
to an over-subscription option (the “Over-Subscription Option”), additional shares of Class A Common Stock that are not subscribed for by other shareholders pursuant to their Basic Subscription Rights at the $0.75 per share
subscription price, subject to acceptance by the Company and availability and allocation as described in the Prospectus (as hereinafter defined). The Rights Offering will expire at 5:00 p.m., New York City time, on June 16, 2011, unless
extended in the sole discretion of the Company (such date and time, as it may be extended, the “Expiration Date”). 

METHOD OF EXERCISE OF RIGHTS 
 IN ORDER TO EXERCISE YOUR SUBSCRIPTION RIGHTS, COMPLETE AND SIGN THE ACCOMPANYING SUBSCRIPTION RIGHTS CERTIFICATE AND RETURN IT TOGETHER WITH PAYMENT IN FULL FOR THE SHARES SUBSCRIBED FOR (INCLUDING
THOSE SUBSCRIBED FOR PURSUANT TO THE OVER-SUBSCRIPTION OPTION) TO THE SUBSCRIPTION AGENT, COMPUTERSHARE TRUST COMPANY, N.A. TO BE TIMELY, THE SUBSCRIPTION AGENT MUST RECEIVE THE PROPERLY COMPLETED AND EXECUTED SUBSCRIPTION RIGHTS CERTIFICATE AND
PAYMENT IN FULL FOR THE SHARES SUBSCRIBED FOR (INCLUDING THOSE SUBSCRIBED FOR PURSUANT TO THE OVER-SUBSCRIPTION OPTION) ON OR BEFORE THE EXPIRATION DATE. 
 ALTERNATIVELY, YOU CAN SUBSCRIBE FOR SHARES BY USING A NOTICE OF GUARANTEED DELIVERY. IF A NOTICE OF GUARANTEED DELIVERY IS USED, THE SUBSCRIPTION AGENT MUST RECEIVE (I) THE PROPERLY COMPLETED AND
EXECUTED NOTICE OF GUARANTEED DELIVERY AND PAYMENT IN FULL FOR THE SHARES SUBSCRIBED FOR (INCLUDING THOSE SUBSCRIBED FOR PURSUANT TO THE OVER-SUBSCRIPTION OPTION) ON OR BEFORE THE EXPIRATION DATE AND (II) THE PROPERLY COMPLETED AND EXECUTED
SUBSCRIPTION RIGHTS CERTIFICATE ON OR BEFORE 5:00 P.M., NEW YORK CITY TIME, ON THE THIRD BUSINESS DAY AFTER THE EXPIRATION DATE. 
 Full
payment for the shares subscribed for pursuant to both the Basic Subscription Rights and Over-Subscription Option must be made payable in United States dollars by check, bank draft or money order payable to “Computershare Trust Company, N.A.
acting as Subscription Agent for BankAtlantic Bancorp, Inc.” 
 For a complete description of the terms and conditions of the Rights
Offering, please refer to the Company’s prospectus supplement, dated May 16, 2011, and accompanying base prospectus, dated May 4, 2010 (collectively, the “Prospectus”), which is incorporated herein by reference. Copies of
the Prospectus are available upon request from Georgeson Inc., the Information Agent for the Rights Offering (Shareholders: (888) 219-8320; Banks and Brokers: (212) 440-9800). 
 Stock certificates, if any, for the shares of Class A Common Stock acquired pursuant to the exercise of Basic Subscription Rights will be mailed promptly after the Expiration Date and after
full payment for the shares has been received and cleared. Stock certificates, if any, for the shares of Class A Common Stock acquired pursuant to the exercise of the Over-Subscription Option will be mailed as soon as practicable after full
payment has been received and cleared and all determinations, allocations and adjustments described in the Prospectus have been effected. In the event that shares of Class A Common Stock are not represented by certificates, such shares will be
deposited in a book-entry account held on the owner’s behalf in accordance with the applicable time period described in the preceding sentences. Any excess payment to be refunded to a shareholder will be mailed by the Subscription Agent to such
shareholder as promptly as possible. You will not be paid any interest on funds paid to the Subscription Agent, regardless of whether the funds are disbursed to the Company or returned to you. Delivery to an address other than one of the
addresses listed below will not constitute valid delivery. 
  

							
		 	BY MAIL:	  	BY EXPRESS MAIL OR OVERNIGHT COURIER:	  	
		 	Computershare	  	Computershare	  	
		 	c/o Voluntary Corporate Actions	  	c/o Voluntary Corporate Actions	  	
		 	P.O. Box 43011	  	Suite V, 250 Royall Street	  	
		 	Providence, RI 02940-3011	  	Canton, MA 02021	  	

 Eligible Guarantor Institutions may transmit the notice of guaranteed delivery to the Subscription
Agent by facsimile transmission to (617) 360-6810 (confirm by telephone to (781) 575-2332). 
 Facsimile delivery of
the Subscription Rights Certificate will not be accepted and will not constitute valid delivery. 
 Any questions
regarding the Subscription Rights Certificate or the Rights Offering may be directed to 
 Georgeson Inc. at
(888) 219-8320 for shareholders or (212) 440-9800 for banks and brokers.Contribution Agreement

 Exhibit 10.1 
 CONTRIBUTION AGREEMENT 
 CARLSBAD PROPERTY 

THIS CONTRIBUTION AGREEMENT (this “Agreement”) is entered into as of May 13, 2011 by and among The
GC Net Lease REIT Operating Partnership, L.P. (the “Operating Partnership”), The GC Net Lease (Carlsbad) Investors, LLC (the “OP Sub”), each of the Contributors listed on Exhibit A (each a “Contributor” and
collectively, the “Contributors), and each of the Unit Recipients listed on Exhibit B (each a “Unit Recipient” and collectively, the “Unit Recipients”). 

WHEREAS, the Operating Partnership is considering engaging in various related transactions pursuant to which, among other
things, the Operating Partnership would acquire that certain net leased real estate property located at 5781 Van Allen Way, Carlsbad, California (the “Carlsbad Property”); 

WHEREAS, each Contributor currently owns directly and, at the Closing, will own directly the percentage undivided
co-tenancy interest in the Carlsbad Property listed opposite the Contributor’s name on Exhibit A hereto (each, an “Interest” and, collectively, the “Interests”); and 

WHEREAS, the Operating Partnership desires to acquire from each Contributor, and each Contributor desires to transfer to
the Operating Partnership, subject to the terms and conditions set forth herein, all of such Contributor’s Interest in the Carlsbad Property. 
 NOW THEREFORE, in consideration of the foregoing and the mutual covenants and conditions set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Operating Partnership, the OP Sub, the Contributors and the Unit Recipients agree as follows: 
 ARTICLE I:
CONTRIBUTION OF INTERESTS 
 1.1        Contribution of
Interests. Subject to the terms and conditions hereof, each Contributor agrees to contribute or otherwise transfer to the OP Sub (or its designee), and the OP Sub (or its designee) agrees to acquire and accept from such Contributor, on the
Closing Date (as hereinafter defined), all of such Contributor’s right, title and interest in and to the Interest listed as owned by such Contributor on Exhibit A hereto. 

1.2        Contributor Exchange Amount. 

(a)     Units Delivered at Closing. Subject to the terms and conditions of this Agreement, in exchange for the
contribution of all of the Interests listed on Exhibit A as being owned by the Contributors, the Operating Partnership shall transfer to each Unit Recipient, and upon execution and delivery of an acceptance of the Partnership Agreement (as
defined below) by such Unit Recipient, such Unit Recipient shall receive, at the Closing, the number of units of limited partnership interest in the Operating Partnership (“Units”) listed opposite the Unit Recipient’s name on
Exhibit B hereto, in a transaction intended to qualify for non-recognition of gain to such Contributor and such Contributor’s respective Unit Recipient pursuant to Section 721 of the Internal Revenue Code of 1986, as amended. In the
event the Closing occurs after April 15, 2011 and on or before May 31, 2011, the Unit Recipients shall be entitled to receive additional Units as indicated on Exhibit B. For example, if a Unit Recipient is entitled to 12
additional Units per day for April and 10 additional Units per day for May and the Closing occurs on May 5, 

 
2011, this Unit Recipient shall receive 230 additional Units [(15 days in April x 12 Units) + (5 days in May x 10 Units)]. 

The rights of each Unit Recipient as a holder of Units as of the Closing are set forth in the First Amended and Restated
Agreement of Limited Partnership of The GC Net Lease REIT Operating Partnership, L.P. (the “Partnership Agreement”), subject to the provisions of this Agreement. With respect to the Interest in the Carlsbad Property owned by each
Contributor as listed on Exhibit A hereto, each such Contributor and such Contributor’s respective Unit Recipient acknowledge and agree that receipt by such Contributor’s respective Unit Recipient of the Units in exchange for such
Interest shall constitute receipt of fair value (which aggregate value for all of the Interests has been determined by the parties and is set forth on Exhibit B, the “Agreed Value”) in exchange for such Contributor’s Interest
in the Carlsbad Property as of the Closing Date, and the ratable portion of the Agreed Value, as listed next to each Unit Recipient’s name on Exhibit B hereto, deemed contributed to the OP Sub by each Contributor will be recorded on the
Operating Partnership’s books and records. 

(b)        Distribution of Units. At the Closing, the Operating
Partnership shall issue the Units to each Unit Recipient (as determined pursuant to Section 1.2(a) above). The name of each Unit Recipient and the number of Units issued to such Unit Recipient at the Closing shall be recorded in the books and
records of the Operating Partnership. 
 (c)        Admission as a
Limited Partner. Upon execution and delivery of an acceptance of the Partnership Agreement by each Unit Recipient at the Closing, and subject to the completion of the Closing, including execution of such acceptance by the Operating Partnership,
such Unit Recipient shall be admitted to the Operating Partnership as a limited partner of the Operating Partnership and, as such, shall be subject to, and bound by, the Partnership Agreement, including all the terms and conditions thereof, and the
power of attorney granted therein, as well as the terms set forth in Section 1.3 of this Agreement that hereby modify the terms of the Partnership Agreement with respect to the Exchange Right (as defined in the Partnership Agreement) of each
Unit Recipient admitted as a limited partner of the Operating Partnership pursuant to this Section 1.2(c). 

1.3        Modified Exchange Right. 

(a)        Discounted Cash Amount for Redemption by the Operating Partnership and Discounted
Cash Amount and REIT Share Amount for Purchase by the General Partner of the Operating Partnership. With respect to the Units issued to each Unit Recipient pursuant to Section 1.2(b) above, each Unit Recipient shall have the right to
require the Operating Partnership to redeem all or a portion of the Units held by such Unit Recipient pursuant to Section 8.4(a) of the Partnership Agreement or may have such Units purchased by The GC Net Lease REIT, Inc. (the
“REIT”), as general partner of the Operating Partnership, pursuant to Section 8.4(b) of the Partnership Agreement, provided that such Units shall have been outstanding for at least one year, at an exchange price equal to the
percentage of the Cash Amount (as defined in the Partnership Agreement) opposite the name of such Contributor on Exhibit D hereto (“Percentage of Cash Amount”) to which such Unit Recipient would otherwise be entitled upon a
redemption of such Units by the Operating Partnership and the Percentage of the Cash Amount or the REIT Share Amount (as defined in the Partnership Agreement), as applicable, to which such Unit Recipient would otherwise be entitled upon a purchase
of such Units by the REIT. 
 (b)        Limitation on Applicability
of Modified Exchange Right for REIT Share Amount. Notwithstanding the above, the modified Exchange Right described in Section 1.3(a) is 

  
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only applicable to the REIT Share Amount for sales to the REIT, as general partner of the Operating Partnership, prior to the time that the REIT Shares (as defined in the Partnership Agreement)
are listed on a national securities exchange or if the REIT is merged into another entity whereby holders of REIT Shares receive securities listed on a national securities exchange, if ever. The modified Exchange Right described in
Section 1.3(a) shall be applicable to the Cash Amount at all times. 
 ARTICLE 2: REPRESENTATIONS, WARRANTIES AND COVENANTS
OF 
 CONTRIBUTORS AND UNIT RECIPIENTS 
 As a material inducement to the Operating Partnership and the OP Sub to enter into this Agreement and to consummate the transactions contemplated hereby, each Contributor and such Contributor’s
respective Unit Recipient hereby make to the Operating Partnership and the OP Sub each of the representations and warranties set forth in this Article 2, severally, and jointly with respect to an individual Contributor and such Contributor’s
respective Unit Recipient, and severally but not jointly with respect to the other Contributors and Unit Recipients, which representations and warranties are true and correct as of the date hereof. 

2.1        Title to the Interests. Contributor owns, directly, and at the
Closing will own directly, free and clear of any claim, lien (including tax liens), option, charge, security interest, mortgage, deed of trust, encumbrance, rights of assignment, purchase rights or other rights of any nature whatsoever of any third
party (collectively, “Encumbrances”), and has or will have at the Closing full power and authority to convey free and clear of any Encumbrances, the Interest listed on Exhibit A hereto as being owned by such Contributor and, upon
delivery of an assignment and grant deed by Contributor conveying such Interest and consideration for such Interest as herein provided, the OP Sub (or its designee) will acquire good and valid title thereto, free and clear of any Encumbrance, in
each case, except (i) Encumbrances created in favor of the Operating Partnership or OP Sub by the transactions contemplated hereby, (ii) Encumbrances that will be extinguished with respect to such Contributor and such Contributor’s
respective Unit Recipient at or prior to Closing, and (iii) Encumbrances created under the Lease Agreement dated as of February 8, 2006, as amended, with Life Technologies, Inc. (formerly Invitrogen Corporation, a Delaware corporation), to
which the Carlsbad Property is subject, (the “Current Lease”) as amended pursuant to Section 3.1(c), and under the loan made on February 10, 2006 in the original amount of $37,000,000 by JPMorgan Chasebank, N.A., a national
banking association, and secured by a nonrecourse deed of trust, each now held by Wells Fargo Bank, N.A., as Trustee for the Registered Holders of J.P. Morgan Chase Commercial Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2006-LDP6, to which the Carlsbad Property is subject (the “Current Loan”) (collectively, “Permitted Encumbrances”). 
 2.2        Authority. Contributor and such Contributor’s respective Unit Recipient have full right, authority, power and capacity (a) to enter into
this Agreement and each agreement, document and instrument to be executed and delivered by or on behalf of such Contributor or such Contributor’s respective Unit Recipient, respectively, pursuant to this Agreement and (b) to carry out the
transactions contemplated hereby and thereby, and Contributor has full right, authority, power and capacity to transfer, sell and deliver all of the Interest listed on Exhibit A hereto as being owned by such Contributor to the OP Sub (or its
designee) in accordance with this Agreement. This Agreement and each agreement, document and instrument executed and delivered by or on behalf of Contributor or such Contributor’s respective Unit Recipient pursuant to this Agreement,
constitutes, or when executed and delivered will constitute, the legal, valid and binding obligation of such Contributor or such Contributor’s respective Unit Recipient, respectively, each enforceable in accordance with its respective terms.
The execution, delivery 

  
 3 

 
and performance of this Agreement and each such agreement, document and instrument by or on behalf of Contributor or such Contributor’s respective Unit Recipient (i) does not and will
not violate any foreign, federal, state, local or other laws applicable to such Contributor or such Contributor’s respective Unit Recipient or require such Contributor or such Contributor’s respective Unit Recipient to obtain any approval,
consent or waiver of, or make any filing with, any person or authority (governmental or otherwise) that will not be obtained or made at or prior to the Closing, and (ii) if such Contributor or such Contributor’s respective Unit Recipient
is not an individual, does not and will not violate such Contributor’s or such Contributor’s respective Unit Recipient’s partnership agreement, operating agreement or other organizational documents, (iii) does not and will not
violate any term, condition or provision of, or constitute a default under, any bond, note or other evidence of indebtedness or any contract, lease or other instrument to which such Contributor or such Contributor’s respective Unit Recipient is
a party or by which the Interest of such Contributor is bound or affected, and (iv) does not and will not result in the creation of any Encumbrance on the Carlsbad Property. 

2.3        Litigation. There is no litigation or proceeding, either
judicial or administrative, pending or, to Contributor’s or such Contributor’s respective Unit Recipient’s knowledge, threatened, affecting all or any portion of such Contributor’s Interest, the Carlsbad Property or such
Contributor’s or such Contributor’s respective Unit Recipient’s ability to consummate the transactions contemplated hereby. There is no outstanding order, writ, injunction or decree of any court, government, governmental entity or
authority or arbitration against or affecting all or any portion of Contributor’s Interest or the Carlsbad Property, which in any such case would impair such Contributor’s or such Contributor’s respective Unit Recipient’s ability
to enter into and perform all the respective obligations of such Contributor and such Contributor’s respective Unit Recipient respective obligations under this Agreement. 

2.4        No Agreements to Sell. Except to the extent contemplated
herein, neither Contributor nor such Contributor’s respective Unit Recipient are currently a party to any agreement to sell, transfer or otherwise encumber or dispose of such Contributor’s Interest. 

2.5        Status as a United States Person. Contributor and such
Contributor’s respective Unit Recipient represent and warrant that neither such Contributor nor such Contributor’s respective Unit Recipient are a foreign person within the meaning of Section 1445 of the Code (“Section
1445”). Each of Contributor’s and such Contributor’s respective Unit Recipient’s U.S. social security number (in the case of an individual) or U.S. taxpayer identification number (in the case of an entity) that has previously
been provided to Griffin Capital Corporation is correct. Each of Contributor’s and such Contributor’s respective Unit Recipient’s home address (in the case of an individual) or office address (in the case of an entity) is the most
recent addresses previously provided to Griffin Capital Corporation. Upon request by the Operating Partnership or the OP Sub, Contributor and such Contributor’s respective Unit Recipient, as applicable, agree to complete and provide to the
Operating Partnership or the OP Sub, as applicable prior to the Closing, a certificate of non-foreign status substantially in the form provided in Section 1.1445-5(b)(3)(D) of the Treasury Regulations. 

2.6        No Insolvency Proceedings. No attachments, execution
proceedings, assignments for the benefit of creditors, insolvency, bankruptcy, reorganization or other proceedings are pending or, to Contributor’s or such Contributor’s respective Unit Recipient’s knowledge, threatened against such
Contributor or such Contributor’s respective Unit Recipient, such Contributor’s Interest or the Carlsbad Property, nor are any such proceedings contemplated by such Contributor or such Contributor’s respective Unit Recipient.

  
 4 

 2.7        No Brokers.
Contributor and such Contributor’s respective Unit Recipient represent that neither has entered into, and covenant that neither will enter into, any agreement, arrangement or understanding with any person or firm which will result in the
obligation of the Operating Partnership or the OP Sub to pay any brokerage commission in connection with the transactions contemplated hereby. 
 2.8        Conditional Nature of Transaction. Contributor and such Contributor’s respective Unit Recipient acknowledge and understand that it is a
condition to the obligations of the Operating Partnership and the OP Sub to close the transactions contemplated hereby, that the lender approval of assumption of the Current Loan, the bridge loan financing and the Current Lease amendment, more fully
described in Sections 3.1(a) through (c), respectively, shall have occurred (or will occur simultaneously with the Closing), that the occurrence of the contribution of the Carlsbad Property is wholly within the sole and absolute discretion of the
REIT, the Operating Partnership, the OP Sub and their affiliates, and that neither such Contributor nor such Contributor’s respective Unit Recipient has a right to force the contribution of the Carlsbad Property to occur, on any terms.

 2.9        Securities Law Matters; Transfer Restrictions.

 (a)        Contributor and such Contributor’s respective Unit
Recipient acknowledge that the Operating Partnership intends the offer and issuance of the Units to be exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”) and applicable state securities laws by
virtue of (i) the status of such Unit Recipient as an “accredited investor” within the meaning of the federal securities laws, and (ii) Regulation D promulgated under Section 4(2) of the Securities Act (“Regulation
D”), and that the Operating Partnership will rely in part upon the representations and warranties made by such Contributor and such Contributor’s respective Unit Recipient in this Agreement in making the determination that the offer and
issuance of the Units qualify for exemption under Rule 506 of Regulation D as an offer and sale only to “accredited investors.” 
 (b)        Contributor’s respective Unit Recipient is an “accredited investor” within the meaning of the federal securities laws. 

(c)        Contributor acknowledges and represents that the financial
information, including but not limited to, information relating to assets, liabilities, compensation and net worth of the Contributor and/or its affiliates provided by Contributor and/or its affiliates to Griffin Capital Corporation and/or its
affiliates at the time that such Contributor acquired Interests has not materially changed; and Contributor is still an “accredited investor” under Regulation D despite that Contributor may no longer include the value of Contributor’s
primary residence as an asset when calculating whether the Contributor has a net worth of $1,000,000 or more. 

(d)        Contributor’s respective Unit Recipient will acquire the Units
for his or its own account and not with a view to, or for sale in connection with, any “distribution” thereof within the meaning of the Securities Act. Contributor’s respective Unit Recipient does not intend or anticipate that such
Contributor’s respective Unit Recipient will rely on this investment as a principal source of income. 

(e)        Contributor’s respective Unit Recipient has sufficient knowledge
and experience in financial, tax, and business matters to enable it to evaluate the merits and risks of investment in the Units. Contributor’s respective Unit Recipient has the ability to bear the economic risk of acquiring the Units.
Contributor and Contributor’s respective Unit Recipient 

  
 5 

 
acknowledge that (i) the transactions contemplated by this Agreement involve complex tax consequences for such Contributor and Contributor’s respective Unit Recipient, and Contributor
and Contributor’s respective Unit Recipient are relying solely on the advice of such Contributor’s or Contributor’s respective Unit Recipient’s own tax advisors, as applicable, in evaluating such consequences, (ii) the
Operating Partnership has not made (nor shall it be deemed to have made) any representations or warranties as to the tax consequences of such transaction to such Contributor or Contributor’s respective Unit Recipient, and (iii) references
in this Agreement to the intended tax effect of the transactions contemplated hereby shall not be deemed to imply any representation by the Operating Partnership as to a particular tax effect that may be obtained by such Contributor or
Contributor’s respective Unit Recipient. Contributor and Contributor’s respective Unit Recipient remain solely responsible for all tax matters relating to such Contributor and Contributor’s respective Unit Recipient, respectively.

 (f)        Contributor’s respective Unit Recipient has been
supplied with, or had access to, information to which a reasonable investor would attach significance in making an investment decision to acquire the Units and any other information such Contributor’s respective Unit Recipient has requested.
Contributor’s respective Unit Recipient has had an opportunity to ask questions of, and receive information and answers from, the Operating Partnership, the OP Sub and the REIT concerning the Operating Partnership, the REIT, the Units, the
contribution of the Carlsbad Property and the REIT common shares into which the Units may be redeemed, and to assess and evaluate any information supplied to such Contributor’s respective Unit Recipient by the Operating Partnership, the OP Sub
or the REIT, and all such questions have been answered, and all such information has been provided to the full satisfaction of such Contributor’s respective Unit Recipient. 

(g)        Contributor’s respective Unit Recipient acknowledges that such
Contributor’s respective Unit Recipient is aware that there are substantial restrictions on the transferability of the Units and that the Units will not be registered under the Securities Act or any state securities laws, and such
Contributor’s respective Unit Recipient has no right to require that they be so registered. Contributor’s respective Unit Recipient agrees that any Units it acquires will not be sold in the absence of registration unless such sale is
exempt from registration under the Securities Act and applicable state securities laws. Contributor’s respective Unit Recipient acknowledges that such Contributor’s respective Unit Recipient shall be responsible for compliance with all
conditions on transfer imposed by any securities authority and for any expenses incurred by the Operating Partnership for legal or accounting services in connection with reviewing such a proposed transfer or issuing opinions in connection therewith.

 (h)        Contributor’s respective Unit Recipient understands
that no federal agency (including the Securities and Exchange Commission) or state agency has made or will make any finding or determination as to the fairness of an investment in the Units (including, as to Contributor’s respective Unit
Recipient, the Agreed Value determined pursuant to Section 1.2(a)). 

(i)        Contributor’s respective Unit Recipient understands that there
is no established public, private or other market for the Units acquired by such Contributor’s respective Unit Recipient hereunder, and it is not anticipated that there will be any public, private or other market for such Units in the
foreseeable future. 
 (j)        Contributor’s respective Unit
Recipient understands that Rule 144 promulgated under the Securities Act is not currently available with respect to the sale of Units. 

  
 6 

 2.10      Reliance. Contributor and
such Contributor’s respective Unit Recipient acknowledge that Contributor and such Contributor’s respective Unit Recipient understand the meaning and legal consequences of the representations and warranties in this Article 2, and that the
Operating Partnership and the OP Sub may rely upon such representations and warranties in determining whether to enter into this Agreement. Contributor and such Contributor’s respective Unit Recipient agree to indemnify, defend and hold
harmless the Operating Partnership, the OP Sub, the REIT, and the officers, directors and affiliates thereof, and any employees or agents of any of the foregoing, against any and all loss, liability, claim, damage or expense whatsoever (including,
but not limited to, any and all expenses, including attorneys’ fees, reasonably incurred in investigating, preparing or defending against any claim or litigation commenced or threatened) due to or arising out of a breach of any such
representations or warranties. 
 2.11      Nature of Contribution.
Contributor and such Contributor’s respective Unit Recipient acknowledge that, due to the nature of the transactions contemplated hereby, upon Closing, Contributor will make a contribution to a partnership, the Operating Partnership, pursuant
to Section 721 of the Internal Revenue Code; therefore, Contributor will no longer be able to rely upon Section 1031 of the Internal Revenue Code for tax treatment of Contributor’s Interest subsequent to the Closing. 

2.12      No Legal Representation. Contributor and such Contributor’s
respective Unit Recipient acknowledge that the legal counsel representing the Operating Partnership, the OP Sub, the REIT and their affiliates does not represent, and will not be deemed under the applicable codes of professional responsibility to
have represented, or to be representing, any or all of the Contributors and Unit Recipients. Contributor and such Contributor’s respective Unit Recipient acknowledge that, due to the complex nature of the transactions contemplated by this
Agreement, the Operating Partnership has encouraged such Contributor and such Contributor’s respective Unit Recipient to consult their own legal, financial and tax advisors. 

2.13      Financial Advisor Representation. Contributor and such Contributor’s
respective Unit Recipient acknowledge that neither the Operating Partnership, the OP Sub, the REIT nor any of their affiliates, officers, directors, employees or consultants have (i) acted as a financial advisor, investment advisor,
broker-dealer or registered representative for the Contributor or such Contributor’s respective Unit Recipient with respect to the acquisition of the Units; nor (ii) evaluated or determined whether the Units are “suitable” for
such Contributor’s respective Unit Recipient under the federal, or state securities laws, rules and regulations or the rules and regulations of the Financial Industry Regulatory Authority (FINRA). Contributor and such Contributor’s
respective Unit Recipient acknowledge that he, she or it has been advised and directed by the Operating Partnership, the OP Sub, the REIT and/or any of their affiliates, officers, directors, employees or consultants to retain a financial advisor,
investment advisor, broker-dealer and/or a registered representative to determine whether the Units are “suitable” for such Contributor’s respective Unit Recipient, and if the Contributor and such Contributor’s respective Unit
Recipient have chosen not to engage a financial advisor, investment advisor, broker-dealer and/or a registered representative then the Contributor and such Contributor’s respective Unit Recipient has done so at his, her or its own risk.

 ARTICLE 3: CONDITIONS TO CLOSING 
 3.1        Conditions to the Obligations of the Operating Partnership and the OP Sub to Close. The obligations of the Operating Partnership and the OP Sub to
consummate the Closing with respect to each Contributor’s Interest is subject to the fulfillment, at or prior to the Closing, 

  
 7 

 
of the following conditions (unless such conditions are waived in writing by the Operating Partnership): 
 (a)        Assumption of the Current Loan. At or prior to the Closing, the Current Loan shall be assumed by the Op Sub on terms acceptable to Op Sub and the
Operating Partnership, each in its sole and absolute respective discretion. 

(b)        Amendment to the Current Lease. If determined to be necessary
by the OP-Sub, prior to the Closing, the Current Lease may be amended and assigned to the Op Sub on terms acceptable to the Op Sub and the Operating Partnership, each in its sole and absolute respective discretion. 

(c)        Bridge Loan Financing. At or prior to the Closing, the
Operating Partnership, REIT and OP Sub shall have obtained such bridge loan financing as may be acceptable to each of the foregoing parties, each in its sole and absolute respective discretion. 

(d)        Representations and Warranties. The representations and
warranties made by such Contributor and such Contributor’s respective Unit Recipient pursuant to this Agreement shall be true and correct in all respects when made, and on and as of the Closing Date, as though such representations and
warranties were made on the Closing Date. 

(e)        Performance. Such Contributor and such Contributor’s
respective Unit Recipient shall have performed and complied with all agreements and covenants that such Contributor and such Contributor’s respective Unit Recipient are required to perform or comply with pursuant to this Agreement prior to the
Closing. 
 (f)        Legal Proceedings. No action or
proceeding by or before any governmental authority shall have been instituted that is reasonably expected to restrain, prohibit or invalidate the transactions contemplated by this Agreement, other than an action or proceeding instituted by such
Contributor or such Contributor’s respective Unit Recipient. 

(h)        Consents and Approvals. All necessary consents of governmental
and private parties to effect the transactions contemplated by this Agreement (as they relate to such Contributor or such Contributor’s respective Unit Recipient) shall have been obtained. 

(i)        Reliance on Regulation D. The Operating Partnership shall,
based on advice of its counsel, be reasonably satisfied that the issuance and the contemplated distribution of Units to such Contributor’s respective Unit Recipient may be made without registration under the Securities Act in reliance upon
Regulation D. 
 3.2        Conditions to the Obligations of Each
Contributor and Such Contributor’s Respective Unit Recipient to Close. The obligations of each Contributor and such Contributor’s respective Unit Recipient to consummate the Closing are subject to the fulfillment, at or prior to the
Closing, of the following conditions (unless such conditions are waived in writing by such Contributor and such Contributor’s respective Unit Recipient): 
 (a)        Performance. The Operating Partnership and the OP Sub shall have performed and complied with all agreements and covenants (as they relate to such
Contributor or such Contributor’s respective Unit Recipient) that the Operating Partnership or the OP Sub are required to perform or comply with pursuant to this Agreement prior to the Closing. 

  
 8 

 (b)        Tax Protection
Agreement. The REIT, the Operating Partnership, the Contributors and the Unit Recipients shall have entered into that certain Tax Protection Agreement evidencing their agreement regarding amounts that may be payable to the Unit Recipients as a
result of certain actions being taken by the Operating Partnership relating to the disposition of the Carlsbad Property. 
 (c)        Legal Proceedings. No action or proceeding by or before any governmental authority shall have been instituted that is reasonably expected to
restrain, prohibit or invalidate the transactions contemplated by this Agreement (as they relate to such Contributor or such Contributor’s respective Unit Recipient), other than an action or proceeding instituted by the Operating Partnership;
provided, that the foregoing condition shall be deemed to have been satisfied if the Operating Partnership shall have fully indemnified such Contributor and such Contributor’s respective Unit Recipient from any loss, liability, claim, damage or
expense arising out of such Contributor’s and such Contributor’s respective Unit Recipient’s proceeding to close under this Agreement in the face of any such action or proceeding. 

(d)        Consents and Approvals. All necessary consents of governmental
and private parties to effect the transactions contemplated by this Agreement (as they relate to such Contributor and such Contributor’s respective Unit Recipient), including, without limitation, consents of any other members or partners of any
of the selling entities or lenders, shall have been obtained; provided, that the foregoing condition shall be deemed to have been satisfied if the Operating Partnership shall have fully indemnified such Contributor and such Contributor’s
respective Unit Recipient, by written agreement acceptable to it, in its sole discretion, from any loss, liability, claim, damage or expense arising out of such Contributor’s and such Contributor’s respective Unit Recipient’s
proceeding to close under this Agreement without having obtained a necessary consent. 
 ARTICLE 4: CLOSING 

4.1        Closing. The closing hereunder (the “Closing”) shall
occur, at the election of the Operating Partnership at the time and place determined by the Operating Partnership and the OP Sub. The Operating Partnership will use reasonable efforts to notify each Contributor or its representative and such
Contributor’s respective Unit Recipient of the Closing at least one business day prior to such date, provided that the conditions for the Closing as set forth in Article 3 hereof applicable to the transaction with such Contributor and such
Contributor’s respective Unit Recipient shall have occurred (or shall have been waived by the party that benefits from such conditions), and this Agreement shall not have been terminated as to such Contributor pursuant to Article 5 hereof. The
date on which a Closing occurs is referred to herein as the “Closing Date.” Notwithstanding receipt of any notice of the occurrence of an intended Closing or Closing Date, the Operating Partnership and the OP Sub have the right to extend
the Closing Date as necessary to consummate the transactions contemplated herein, in their respective sole and absolute discretion. Contributor and such Contributor’s respective Unit Recipient acknowledge that notices of any proposed date for
Closing the transactions contemplated herein are, by necessity, an estimate or intended Closing Date and such notices should not be relied up or be deemed an assurance that Closing will occur at all or that it will occur on the date specified in any
notice. Contributor and such Contributor’s respective Unit Recipient acknowledge that occurrence of the Closing is subject to numerous variables and conditions beyond the control of the parties. 

  
 9 

 4.2        Closing Deliveries by
Each Contributor and Such Contributor’s Unit Recipient. At the Closing, each Contributor or such Contributor’s respective Unit Recipient, as applicable, shall execute and deliver to the Operating Partnership or the OP Sub, as
applicable, the following: 
 (a)        a duly executed Assignment
Agreement, substantially in the form attached hereto as Exhibit C (“Assignment Agreement”), pursuant to which such Contributor shall convey to the OP Sub (or its designee) title to such Contributor’s Interest in the Carlsbad
Property, free and clear of Encumbrances, except Permitted Encumbrances under clause (i) of Section 2.1; 
 (b)        a duly executed grant deed, limited warranty deed or other appropriate transfer document conveying title to the OP Sub. 

(c)        a duly executed acceptance of the Partnership Agreement executed by
such Unit Recipient; 
 (d)        a duly executed signature page to
the Tax Protection Agreement executed by such Contributor and such Contributor’s respective Unit Recipient; and 
 (e)        such documents and certificates as the Operating Partnership or the OP Sub may reasonably request (i) to establish the authority of the parties
executing any documents in connection with the Closing, or (ii) to reflect the parties’ intentions regarding the transfer of the Interests. 
 4.3        Closing Deliveries by the Operating Partnership. At the Closing, the Operating Partnership shall execute and deliver to each Unit Recipient the
following: 
 (a)        a duly executed acceptance of the Partnership
Agreement; and 
 (b)        a duly executed signature page to the Tax
Protection Agreement. 
 ARTICLE 5: TERMINATION 

5.1        Termination by the Operating Partnership. The Operating
Partnership shall have the right to terminate this Agreement at any time prior to the Closing following the occurrence of either of the following events: 
 (a)        as to any Contributor and such Contributor’s respective Unit Recipient, the determination that any representation or warranty of such Contributor or
such Contributor’s Unit Recipient contained herein is no longer true or correct, and that such representation or warranty cannot reasonably be expected to be true and correct at the Closing; or 

(b)        as to all the Contributors and Unit Recipients, at any time for any
reason. 
 5.2        Effect of Termination. Upon the termination
of this Agreement as to a Contributor and such Contributor’s Unit Recipient pursuant to Section 5.1 hereof, neither the Operating Partnership, the OP Sub, such Contributor nor such Contributor’s respective Unit Recipient shall have
any liability to any other party hereto in connection with the transactions contemplated hereby, or as a result of the termination of this Agreement; provided, that the foregoing shall not relieve the Operating Partnership, the OP Sub, such
Contributor or such Contributor’s respective Unit Recipient of any liability as a result of a breach of any of the terms 

  
 10 

 
of this Agreement. Notwithstanding anything to the contrary herein, the termination of this Agreement as to any one or more Contributors and such Contributor’s respective Unit Recipient
shall not affect the effectiveness or continuing validity of this Agreement as to all other Contributors and Unit Recipients, and this Agreement shall continue in full force and effect as to all such other Contributors and Unit Recipients unless
terminated as to such other Contributors and Unit Recipients in accordance with Section 5.1 hereof. 
 ARTICLE 6: COVENANTS
AND OTHER AGREEMENTS 
 6.1        Consent to Transfer of Other
Contributors’ Interests. Each Contributor hereby consents to the transfer of the Interests of the other Contributors in the Carlsbad Property to the OP Sub (or its designee), and waives any rights under that certain Tenants in Common
Agreement dated February 12, 2006, and related documents, including, without limitation, the Call Agreement, entered into in connection therewith or in connection with any of the transactions contemplated by this Agreement, including, without
limitation, any restrictions on transfer, buy/sell rights, rights of appraisal, piggyback rights or rights of first offer or first refusal and any notice requirements in connection therewith or otherwise. 

6.2        Further Assurances. Each Contributor and Unit Recipient shall
execute and deliver to the Operating Partnership or the OP Sub, as applicable, all such other and further instruments and documents and take or cause to be taken all such other and further actions as the Operating Partnership or the OP Sub, as
applicable, may reasonably request in order to effect the transactions contemplated by this Agreement, including instruments or documents deemed necessary or desirable by the Operating Partnership or the OP Sub to effect and evidence the conveyance
of the Interests in accordance with the terms of this Agreement. 
 ARTICLE 7: MISCELLANEOUS 

7.1        Amendment; Waiver. Any amendment hereto shall be effective only
if signed by all parties hereto. No waiver of any provisions of this Agreement shall be valid unless in writing and signed by the party against whom enforcement is sought. 

7.2        Entire Agreement; Counterparts; Applicable Law. This Agreement
shall (a) constitute the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof, (b) may be executed in one or more counterparts, each of
which will be deemed an original and all of which shall constitute one and the same instrument, and (c) shall be governed in all respects, including validity, interpretation and effect, by the laws of the State of Delaware without giving effect
to the conflict of law provisions thereof. 

7.3        Assignability. This Agreement shall be binding upon, and shall
be enforceable by and inure to the benefit of, the parties hereto and their respective heirs, legal representatives, successors and assigns; provided, however, that this Agreement may not be assigned (except by operation of law) by any party without
the prior written consent of the other parties, and any attempted assignment without such consent shall be void and of no effect; provided, further, however, that the Operating Partnership or the OP Sub may assign this Agreement and any agreement
contemplated hereunder or thereunder to a respective subsidiary, or to any entity into which the Operating Partnership or the OP Sub, as applicable, is reorganized, or to the REIT, without the consent of the Contributors or the Unit Recipients.

  
 11 

 7.4        Severability. If
any provision of this Agreement, or the application thereof, is for any reason held to any extent to be invalid or unenforceable, the remainder of this Agreement and application of such provision to other persons or circumstances will be interpreted
so as reasonably to effect the intent of the parties hereto. The parties further agree to replace such void or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the economic,
business and other purposes of the void or unenforceable provision and to execute any amendment, consent or agreement deemed necessary or desirable by the Operating Partnership or the OP Sub to effect such replacement. 

7.5        Equitable Remedies. The parties hereto agree that irreparable
damage would occur if any provision of this Agreement was not performed in accordance with its specific terms or was otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches
of this Agreement and to enforce specifically the terms and provisions hereof in any federal or state court located in the State of California (as to which the parties agree to submit to jurisdiction for the purposes of such action), this being in
addition to any other remedy to which they are entitled at law or in equity. 

7.6        Attorneys’ Fees. In connection with any litigation or a
court proceeding arising out of this Agreement, the prevailing party shall be entitled to recover all costs incurred, including reasonable attorneys’ fees and legal assistants’ fees and costs whether incurred prior to trial, at trial, or
on appeal. 
 7.7        Survival. It is the express intention
and agreement of the parties hereto that the representations, warranties and covenants of the Contributors and the Unit Recipients set forth in this Agreement shall survive the consummation of the transactions contemplated hereby. 

7.8        Time of the Essence. Time is of the essence with respect to
each Contributor’s and Unit Recipient’s obligations under this Agreement. 
 [Signature pages follow.] 

  
 12 

 IN WITNESS WHEREOF, each of the parties hereto has executed and delivered
this Agreement, or caused the Agreement to be duly executed and delivered on its behalf, as of the date first set forth above. 
  

							
	THE OPERATING PARTNERSHIP:
	
	The GC Net Lease REIT Operating Partnership, L.P.
		
	 By:
	 	 The GC Net Lease REIT, Inc.,
 Its General Partner

			
		 	By:	 	/s/ Kevin A. Shields
		 		 	Kevin A. Shields, President
	
	THE OP SUB:
	
	The GC Net Lease (Carlsbad) Investors, LLC
		
	By:	 	The GC Net Lease REIT Operating Partnership, L.P., Its Sole Member
			
		 	By:	 	The GC Net Lease REIT, Inc.,
		 		 	Its General Partner
				
		 		 	By:	 	/s/ Kevin A. Shields
		 		 		 	Kevin A. Shields, President

 [signature pages –
Contribution Agreement] 

 THE CONTRIBUTORS: 
 [executed by an authorized signatory] 
 Griffin Capital (Carlsbad Pointe)
Investors, LLC 
 Griffin Capital (Carlsbad Pointe) Investor 1, LLC 

Griffin Capital (Carlsbad Pointe) Investor 2, LLC 
 Griffin Capital (Carlsbad Pointe) Investor 3, LLC 
 Griffin Capital (Carlsbad
Pointe) Investor 5, LLC 
 Griffin Capital (Carlsbad Pointe) Investor 10, LLC 

Griffin Capital (Carlsbad Pointe) Investor 12, LLC 
 Griffin Capital (Carlsbad Pointe) Investor 14, LLC 
 Griffin Capital (Carlsbad
Pointe) Investor 19, LLC 
 Griffin Capital (Carlsbad Pointe) Investor 20, LLC 

Griffin Capital (Carlsbad Pointe) Investor 21, LLC 
 Griffin Capital (Carlsbad Pointe) Investor 22, LLC 
 Griffin Capital (Carlsbad
Pointe) Investor 23, LLC 
 Griffin Capital (Carlsbad Pointe) Investor 24, LLC 

Griffin Capital (Carlsbad Pointe) Investor 27, LLC 
 Griffin Capital (Carlsbad Pointe) Investor 29, LLC 

 THE UNIT RECIPIENTS: 
 [executed by an authorized signatory] 
 Croop Enterprises, Inc., a California
Corporation 
 James Edwin Pon, as Trustee under The James Edwin Pon Revocable Living Trust dated July 22, 1997 

3315 JAJ LLC 

William W. Wilson 
 Michael G. Wilson & Laura E. Renaud-Wilson, as Trustees under Michael G. Wilson and Laura E. Renaud-Wilson Living Trust U/D/T dated August 17, 1988, as amended and restated October 16,
1998 
 Katherine O. Livernash and Thomas S. Livernash, as Trustees under Livernash Family 1990 Exemption Trust B 

Jon Thomas Green, as Trustee under Jon Thomas Green Trust 
 Wayne Klenck & Carol Klenck, as Trustees under Klenck Living Trust dated January 24, 1987 
 Roger Finberg, as Trustee under The Finberg Trust of 1995 dated April 4, 1995 

Hans Kruger, as Trustee under The Hans Kruger Trust 
 Richard C. Boulger & Juanita S. Boulger, as Trustee under Richard C. and Juanita S. Boulger Revocable Trust dated October 16, 1991 

James V. Dusserre & Joanne C. Dusserre 
 Trust of James Rossi and Noreen Rossi, dated March 4, 1993 
 Peter J.
Martinelli 
 Brian Brown & Victoria Brown 
 Griffin Capital Corporation, a California Corporation

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