合伙份额转让协议模板英文PARTNERSHIP INTEREST PURCHASE AND SA.docx

合伙份额转让协议模板英文PARTNERSHIP INTEREST PURCHASE AND SA.docx

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合伙份额转让协议模板英文PARTNERSHIPINTERESTPURCHASEANDSA

PARTNERSHIPINTERESTPURCHASEANDSALEAGREEMENT

ThisPartnershipInterestPurchaseandSaleAgreement（this“Agreement”）isexecutedanddeliveredasofJuly28,2005,byandbetweenForeHoldings,LLC,anIllinoislimitedliabilitycompany（the“Seller”）,andClintonIndustriesL.L.C.,anIllinoislimitedliabilitycompany（“Clinton”）,LakeD.G.R.AssociatesI,LLC,anIllinoislimitedliabilitycompany（“DGR”）andL.L.L.Partnership,LLC,anIllinoislimitedliabilitycompany（“LLL”;collectivelywithDGRandClintonreferredtohereinas“Buyers”）.

WHEREAS,theSellerownsafifty-onepercent（51%）partnershipinterest（the“PurchasedInterest”）inOverlookAssociates,anIllinoisgeneralpartnership（the“Company”）;

WHEREAS,theSellerdesirestosell,assignandtransferuntotheBuyersallofthePurchasedInterest,allonthetermsandconditionssetforthherein.

NOW,THEREFORE,forgoodandvaluableconsideration,thereceiptandsufficiencyofwhichareherebyacknowledged,thepartiesherebyagreeasfollows:

ARTICLEI

SALEOFPARTNERSHIPINTEREST

1.1.Sale,AssignmentandTransfer.UponthetermsandsubjecttotheconditionsofthisAgreement,ontheClosingDate（asdefinedinSection1.5hereof）,theSellershallsell,assign,transferandsetoveruntotheBuyers,andtheBuyersshallpurchasethePurchasedInterest,freeandclearofallliens,claims,securityinterests,pledgesandencumbrancesofeverykind.

1.2.Percentages.Clintonshallpurchasefiftypercent（50%）ofthePurchasedInterest,DGRshallpurchasetwenty-fivepercent（25%）ofthePurchasedInterestandLLLshallpurchasetwenty-fivepercent（25%）ofthePurchasedInterest.

1.3.PurchasePrice.Thepurchaseprice（the“PurchasePrice”）forthePurchasedInterestshallbeThreeMillionEightHundredForty-SixThousandSeventy-SixDollars（$3,846,076）,tobepaidasfollows:

（a）PaymentbyClinton.ClintonshallpaySellerOneMillionNineHundredTwenty-ThreeThousandThirtyEightDollars（$1,923,038）ontheClosingDate;

（b）PaymentbyDGR.DGRshallpaySellerNineHundredSixty-OneThousandFiveHundredNineteenDollars（$961,519）ontheClosingDate;and

（c）PaymentbyLLL.LLLshallpaySellerNineHundredSixty-OneThousandFiveHundredNineteenDollars（$961,519）ontheClosingDate.

1.4.Liquidation,DistributionofCompanyAssetsandPaymentofCompanyLiabilities.SimultaneouslywiththeClosinghereunder,afinalaccountingoftheassetsandliabilitiesoftheCompany（exclusiveoftheCompany’sinterestsinWNOverlookAssociates,theowneroftherealpropertylocatedinLincolnshire,Illinoiscommonlyknownas300Tower

Parkway（the“Property”））shallbetakenandtheCompanyshalldistributeallofitscashandotherassetsotherthantheEscrowedFunds（ashereinafterdefined）toSellerandTowerParkwayAssociatesL.L.C.（“Tower”;togetherwithSellerreferredtoasthe“Partners”）inaccordancewiththeirpartnershipinterestsintheCompanyimmediatelypriortoClosing.AllcostsandexpensesrelatedtotheoperationoftheCompanyandattributabletothepropertiescommonlyknownasOneOverlook,TwoOverlookorThreeOverlookinLincolnshire,IllinoisshallbepaidbythePartnersinaccordancewiththeirpartnershipinterestsintheCompanyimmediatelypriortoClosing,regardlessofwhensuchexpensesareincurred.AllcostsandexpensesrelatedtotheoperationoftheCompanyandattributabletothePropertythatareincurredpriortotheClosingDateandthatareascertainableasoftheClosingDateshallbepaidbythePartnersinaccordancewiththeirpartnershipinterestsintheCompanyimmediatelypriortoClosing.Inconnectiontherewith,theamountof$250,000（the“EscrowedFunds”）shallbedepositedbythePartners,inproportionwiththeirpartnershipinterestsintheCompanyimmediatelypriortoClosing,intoescrowatthetimeoftheClosing,whichEscrowedFundsshallbeusedtopaycostsandexpensesrelatedtotheoperationoftheCompanythatwereincurredpriortotheClosingDatebutwillnotbeascertainableuntilaftertheClosingDate.AllEscrowedFundsremainingintheescrowonSeptember30,2005shallbedistributedtothePartnersinproportionwiththeirpartnershipinterestsintheCompanyimmediatelypriortoClosing.SellershallhavenoresponsibilitywithrespecttocostsorexpensesrelatedtotheoperationoftheCompanyorattributabletothePropertythatareattributabletoperiodssubsequenttotheClosingDate.SuchcostsandexpensesshallbepaidbyTowerandtheBuyers.

1.5.ClosingDate.Thecompletionofthepurchase,saleandassignmentofthePurchasedInterest（the“Closing”）shalloccurimmediatelyfollowingtheclosingcontemplatedinthatcertainRealEstatePurchaseAgreementbetweenSeller,Clinton,DGRandLLL,collectivelyassellers,andTheNorthwesternMutualLifeInsuranceCompany,aWisconsincorporation（“Northwestern”）,asbuyer,datedasofJuly28,2005,forthepurchaseofrealpropertycommonlyknownasTwoOverlookPointandThreeOverlookPoint（the“2/3PurchaseAgreement”）andtheclosingcontemplatedinthatcertainRealEstatePurchaseAgreementbetweentheCompany,asseller,andCorporateOverlookCampus,LLC,asbuyer,datedasofJuly28,2005,forthepurchaseofanundividedeightyand4/100percent（80.4%）tenancy-in-commoninterestintherealpropertycommonlyknownasOneOverlookPoint（the“1PurchaseAgreement”）.SuchdateuponwhichtheClosingoccursshallbethe“ClosingDate.”IntheeventClosingdoesnotoccuronorbeforeJuly28,2005,foranyreason,thisAgreementshallautomaticallyterminateunlessthepartiesagreeinwritingtoextendit.

1.6.ClosingDeliveries.AtClosing,thepartiesshallmakethedeliverieslistedbelow,eachsignedbytheappropriatepartiesanddatedasoftheClosing:

（a）TheSeller:

（i）anAssignmentandAssumptionAgreement,intheformattachedheretoasExhibitA（the“Assignment”）,assigningtotheBuyersalloftheSeller’sinterestinandtothePurchasedInterest,freeandclearofallliensandencumbrances;

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（ii）StrictJointOrderEscrowInstructionssignedbySellerorSeller’sattorneyregardingtheEscrowedFunds;and

（iii）suchotherdocumentsandinstrumentsastheBuyersmayreasonablyrequesttovestcontrolofthePurchasedInterestinthemandtootherwisecarryouttheintentionsofthepartiesasmemorializedinthisAgreement.

（b）TheBuyers:

（i）acounterpartoftheAssignment;

（ii）thePurchasePrice,incashorcashequivalent;

（iii）StrictJointOrderEscrowInstructionssignedbyTower,ofwhichBuyersarethemembers,orTower’sattorneyregardingtheEscrowedFunds;and

（iv）suchotherdocumentsandinstrumentsastheSellermayreasonablyrequesttosecuretheperformancetoSellerofthepaymentsandtheotherobligationsoftheBuyersunderthisAgreementandtootherwisecarryouttheintentionsofthepartiesasmemorializedinthisAgreement.

ARTICLEII

REPRESENTATIONSANDWARRANTIESOFTHESELLER

2.1RepresentationsandWarrantiesofSeller.SubjecttothelimitationssetforthinSection5.1,SellerherebyrepresentsandwarrantstoBuyersthat,toSeller’sknowledgeasofthedatehereof:

（a）Sellerhasnotreceivedanywrittennotice,notsubsequentlycured,fromanygovernmentalentitycitingSellerforanymaterialviolationofanylaw,ordinance,order,orregulationwhichisapplicabletothepresentuseandoccupancyoftheProperty;

（b）Sellerhasnotbeenservedinanylitigation,arbitrationorotherjudicial,administrative,orothersimilarproceedingsinvolving,relatedto,orarisingoutofthePropertywhichiscurrentlypending,andwhichwouldhaveamaterialimpactonBuyers’ownershipinterestintheProperty;

（c）Seller,andtheindividualssigningthisAgreementonbehalfofSeller,havethefulllegalpower,authority,andrighttoexecuteanddeliver,andtoperformtheirlegalobligationsunderthisAgreement,andSeller’sperformancehereunderandthetransactionscontemplatedhereby,havebeendulyauthorizedbyallrequisiteactiononthepartofSellerandnoremaininglimitedliabilitycompanyactionisrequiredtomakethisAgreementbindingonSeller;

（d）SellerhasnotreceivedanyofficialgovernmentalnoticeofanyactualcondemnationofthePropertyoranypartthereof;

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（e）SellerhasnotreceivedawrittennoticefromanygovernmentalagencywithrespecttoanyHazardousMaterialcontaminationontheProperty,orwithrespecttoanyinvestigation,administrativeorder,consentorderoragreement,litigation,orsettlementwithrespecttoHazardousMaterialorHazardousMaterialcontaminationthatisinexistencewithrespecttotheProperty.Asusedherein,“HazardousMaterial”meansanyhazardous,toxicordangerouswaste,substance,ormaterial,ascurrentlydefinedforpurposesoftheComprehensiveEnvironmentalResponse,CompensationandLiabilityActof1980,asamended,oranyotherfederal,state,orlocallaw,ordinance,rule,orregulation,applicabletotheProperty,andestablishingliabilitystandardsorrequiredactionastoreporting,discharge,spillage,storage,uncontrolledloss,seepage,filtration,disposal,removal,use,orexistenceofahazardous,toxic,ordangerouswaste,substanceormaterial;

（f）therearenoemployeesofSellerworkingattheProperty;and

（g）SellerrepresentsandwarrantsthatSeller,allpersonsandentitiesowning（directlyorindirectly）atenpercent（10%）orgreaterownershipinterestinSeller,allguarantorsand/orindemnitorsoftheobligationsofSeller（ifany）infavorofBuyerinconnectionwiththesaleoftheProperty:

（i）arenot