EXHIBIT 4.60
Officers Certificate
[], 2011
The undersigned, on behalf of ProLogis, L.P. (the Company), acting pursuant to
resolutions adopted by the Board of Directors (the Board) of ProLogis, Inc., general
partner of the Company, on [], 2011, hereby establish a series of debt securities by means of this
Officers Certificate in accordance with the Indenture, dated as of [], 2011 (the Base
Indenture, and as supplemented by the First Supplemental Indenture thereto, the Second
Supplemental Indenture thereto, the Third Supplemental Indenture thereto and the Fourth
Supplemental Indenture thereto, the Indenture), among the Company, ProLogis, Inc., as
parent guarantor, and U.S. Bank National Association, as trustee (the Trustee).
Capitalized terms used but not defined in this Officers Certificate shall have the meanings
ascribed to them in the Indenture.
5.50% Notes due 2013
1. The series shall be entitled the 5.50% Notes due 2013 (the Notes).
2. The Notes initially shall be limited to an aggregate principal amount of $[] (except in
each case for Notes authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Notes of or within the Series pursuant to Section 304, 305, 306, 906,
1107 or 1305 of the Base Indenture); provided, the Company may increase such aggregate principal
amount upon the action of the Board to do so from time to time.
3. The Notes shall bear interest at the rate of 5.50% per annum. The aggregate principal
amount of the Notes is payable at maturity on March 1, 2013. The interest on this Series shall
accrue from March 1, 2011 or from the most recent Interest Payment Date (as defined below) to which
interest has been paid or duly provided for. Interest on the Notes will be payable semi-annually
on March 1 and September 1 of each year (each an Interest Payment Date), commencing on
September 1, 2011. Interest shall be paid to persons in whose names the Notes are registered on
the February 15 and August 15 preceding the Interest Payment Date (each a Regular Record
Date).
4. Payment of the principal of and interest, if any, on the Notes (or Make-Whole Amount, if
applicable) will be made, the Notes may be surrendered for registration of transfer or exchange and
notices or demands to or upon the Company in respect of the Notes and the Indenture may be served
at the corporate trust office of the Trustee, initially located at 100 Wall Street, Suite 1600, New
York, New York 10005, Attention: Corporate Trust Division.
5. The Notes may be redeemed in whole at any time or in part from time to time, at the
option of the Company, upon notice of not more than 60 nor less than 30 days prior to the
Redemption Date, at a redemption price (the Make-Whole Amount) equal to the greater of
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100% of the principal amount of the Notes to be redeemed; or |
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(2) |
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the sum of the present values of the remaining scheduled payments of principal and
interest on the Notes to be redeemed (exclusive of interest accrued to the Redemption
Date) discounted to the Redemption Date on a semiannual basis
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(assuming a 360-day year
consisting of twelve 30-day months) at the then current Treasury Rate plus 25 basis
points. |
In each case the Company will pay accrued and unpaid interest on the principal amount
being redeemed to the Redemption Date.
The following definitions apply with respect to the Make-Whole Amount:
Comparable Treasury Issue means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term (Remaining
Life) of the Notes to be redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the Remaining Life.
Comparable Treasury Price means, with respect to any Redemption Date, (1) the average of the
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and
lowest Reference Treasury Dealer Quotations, or (2) if the Trustee obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such quotations.
Independent Investment Banker means one of the Reference Treasury Dealers that the Company
appoints to act as the Independent Investment Banker from time to time.
Reference Treasury Dealer means each of Merrill Lynch, Pierce, Fenner & Smith Incorporated
and its successors, and three other firms that are primary U.S. Government securities dealers (each
a Primary Treasury Dealer) which the Company specifies from time to time; provided, however, that
if any of them ceases to be a Primary Treasury Dealer, the Company shall substitute another Primary
Treasury Dealer.
Reference Treasury Dealer Quotations means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for
the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City
time, on the third business day preceding such Redemption Date.
Treasury Rate means, with respect to any Redemption Date, the rate per year equal to: (1)
the yield, under the heading which represents the average for the immediately preceding week,
appearing in the most recently published statistical release designated H.15(519) or any
successor publication which is published weekly by the Board of Governors of the Federal Reserve
System and which establishes yields on actively traded United States Treasury securities adjusted
to constant maturity under the caption Treasury Constant Maturities, for the maturity
corresponding to the Comparable Treasury Issue; provided that, if no maturity is within three
months before or after the Remaining Life of the Notes to be redeemed, yields for the two published
maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the
Treasury Rate shall be interpolated or extrapolated from those yields on a straight line basis,
rounding to the nearest month; or (2) if such release (or any successor release) is not published
during the week preceding the calculation date or does not contain such yields, the rate per year
equal to the semiannual equivalent yield to maturity of
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the Comparable Treasury Issue, calculated
using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be
calculated on the third business day preceding the Redemption Date.
6. The Notes shall not provide for any sinking fund or analogous provision. None of the
Notes shall be redeemable at the option of the Holder.
7. The Notes are issuable only in registered form without coupons in denominations of $1,000
and any integral multiple of $1,000 in excess thereof.
8. The Security Registrar and Paying Agent for the Notes shall be the Trustee.
9. The principal amount of the Notes shall be payable upon declaration of acceleration
pursuant to Section 502 of the Base Indenture.
10. The Notes shall be denominated in and principal of or interest on the Notes (or Make-Whole
Amount, if applicable) shall be payable in such coin or currency of the United States of America as
at the time of payment is legal tender for payment of public and private debts.
11. Except as provided in paragraph 5 of this Officers Certificate, the amount of payments of
principal of or interest on the Notes (or Make-Whole Amount, if applicable) shall not be determined
with reference to an index or formula.
12. None of the principal of or interest on the Notes (or Make-Whole Amount, if applicable)
will be payable at the election of the Company or a Holder thereof in a currency or currencies,
currency unit or units or composite currency or currencies other than that in which the Notes are
denominated or stated to be payable.
13. Except as set forth in the Indenture or the Trust Indenture Act of 1939, the Notes shall
not contain any provisions granting special rights to the Holders of Notes upon the occurrence of
specified events.
14. The Notes shall not contain any deletions from, modifications of or additions to the
Events of Default or covenants of the Company contained in the Indenture.
15. The Notes shall be issued in the form of permanent global Securities as set forth in
Section 305 of the Base Indenture.
16. The Notes will not be issued in the form of bearer Securities or temporary global
Securities.
17. Sections 1402 and 1403 of the Base Indenture shall be applicable to the Notes.
18. The Notes will not be issued upon the exercise of debt warrants.
19. The Notes shall not provide for the payment of Additional Amounts.
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20. Article Sixteen of the Base Indenture shall be applicable to the Notes.
21. The other terms and conditions of the Notes shall be substantially as set forth in the
Indenture and in the Prospectus dated [], 2011 relating to the Notes.
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IN WITNESS WHEREOF, the undersigned have executed this Officers Certificate on the date
first written above.
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[Officers Certificate 5.50% Notes due 2013]