US Uses in Quarterly Reports Clause

Quarterly Reports from Agreement of Limited Partnership

THIS AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (this Agreement) of Build-To-Core Industrial Partnership I LP, a Delaware limited partnership (the Partnership) is made and entered into as of February 12, 2015, by and among: (a) IPT BTC I GP LLC, a Delaware limited liability company, as general partner (the General Partner), which is a subsidiary of IPT Real Estate Holdco LLC, a Delaware limited liability company (IPT HoldCo), which in turn is a subsidiary of Industrial Property Operating Partnership LP (IPT OpCo), which in turn is a subsidiary of Industrial Property Trust Inc. (IPT); (b) IPT BTC I LP LLC, a Delaware limited liability company, which is a subsidiary of IPT HoldCo, which in turn is a subsidiary of IPT OpCo, which in turn is a subsidiary of IPT, as a limited partner (the IPT Limited Partner and, together with the General Partner, collectively, the IPT Partners); (c) bcIMC International Real Estate (2004) Investment Corporation, a Canadian corporation, as a limit

Quarterly Reports. As soon as reasonably practical but in no event later than forty-five (45) days after the end of each of the first three (3) fiscal quarters, and as soon as reasonably practical but in no event later than sixty (60) days after the end of the last fiscal quarter of each Fiscal Year, the General Partner shall cause to be prepared and distributed to each Limited Partner a report summarizing, on both a consolidated and an entity-by-entity basis, the results of the Investments for that quarter and from inception of the Partnership through the end of that quarter. Such reports for the Limited Partners shall include, on both a consolidated and an entity-by-entity basis, the amount of capital invested and other payments (which shall be shown separately) made by each Limited Partner pursuant to this Agreement and the amounts paid to each Limited Partner through the end of the quarter (showing both the return on, and the return of, capital), and such other information set forth on Exhibit H attached hereto. The report issued following the last fiscal quarter of each calendar year, which report shall cover such year in its entirety, shall have been audited by an independent certified public accounting firm selected by the General Partner and Approved by the Executive Committee to the extent required by Section 6.2.