-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Mh+1WWV3cY449HKDAKINdHi/Y4DlJn7IPCMAMakDKj6ocqCEpZNV5jI9iQS2SIMd p93AaF1tOYtYpxeuOjojNQ== 0000895345-03-000039.txt : 20030122 0000895345-03-000039.hdr.sgml : 20030122 20030122092026 ACCESSION NUMBER: 0000895345-03-000039 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20030122 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: IMPERIAL PARKING CORP CENTRAL INDEX KEY: 0001103389 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-AUTOMOTIVE REPAIR, SERVICES & PARKING [7500] IRS NUMBER: 311537375 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-58825 FILM NUMBER: 03520246 BUSINESS ADDRESS: STREET 1: 601 WEST CORDOVA STREET STREET 2: SUITE 300 VANCOUVER V6B 1G1 CITY: BRITISH COLUMBIA BUSINESS PHONE: 6043317200 MAIL ADDRESS: STREET 1: 601 WEST CORDOVA STEET SUITE 300 STREET 2: VANCOUVER V6B 1G1 CITY: BRITISH COLUMBIA FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GOTHAM PARTNERS LP /NY/ CENTRAL INDEX KEY: 0000899983 IRS NUMBER: 363593298 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 110 EAST 42ND ST 18TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2122860300 MAIL ADDRESS: STREET 1: 110 EAST 42 ND ST 18TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 SC 13D/A 1 ss13da.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 8)* Imperial Parking Corporation - --------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.01 par value - --------------------------------------------------------------------------- (Title of Class of Securities) 453077109 --------------------------- (CUSIP Number) David S. Klafter, Esq. Gotham Partners Management Co., LLC 110 East 42nd Street New York, New York 10017 (212) 286-0300 - --------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communication) January 22, 2003 - --------------------------------------------------------------------------- (Date of Event Which Requires Filing of This Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this Schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|. Note. Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SCHEDULE 13D - ----------------------- ----------------------- CUSIP NO. 453077109 PAGE 2 OF 12 PAGES - ----------------------- ----------------------- - ------- ------------------------------------------------------- --------------- 1 NAME OF REPORTING PERSON Gotham Partners, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------- ---------------------------------------------------------- ------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) [ ] - ------- ----------------------------------------------------------------------- 3 SEC USE ONLY - ------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - ------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - ------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - ------------------- ------ ---------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 408,207 ------ ---------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 ------ ---------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 408,207 ------ ---------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 0 - ---------- -------- ----------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 408,207 - ---------- -------- ----------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ---------- -------- ----------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 22.4% - ---------- -------- ----------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ---------- -------- ----------------------------------------------------------- SCHEDULE 13D - ----------------------- ----------------------- CUSIP NO. 453077109 PAGE 3 OF 12 PAGES - ----------------------- ----------------------- - ------- ------------------------------------------------------- --------------- 1 NAME OF REPORTING PERSON Gotham Partners III, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------- ---------------------------------------------------------- ------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) [ ] - ------- ----------------------------------------------------------------------- 3 SEC USE ONLY - ------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - ------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - ------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - ------------------- ------ ---------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 18,593 ------ ---------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 ------ ---------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 18,593 ------ ---------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 0 - ---------- -------- ----------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 18,593 - ---------- -------- ----------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ---------- -------- ----------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.0% - ---------- -------- ----------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ---------- -------- ----------------------------------------------------------- SCHEDULE 13D - ----------------------- ----------------------- CUSIP NO. 453077109 PAGE 4 OF 12 PAGES - ----------------------- ----------------------- - ------- ------------------------------------------------------- --------------- 1 NAME OF REPORTING PERSON Gotham International Advisors, L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------- ---------------------------------------------------------- ------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) [ ] - ------- ----------------------------------------------------------------------- 3 SEC USE ONLY - ------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - ------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - ------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------- ------ ---------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 113,739 ------ ---------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 ------ ---------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 113,739 ------ ---------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 0 - ---------- -------- ----------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 113,739 - ---------- -------- ----------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ---------- -------- ----------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.2% - ---------- -------- ----------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO; IA - ---------- -------- ----------------------------------------------------------- SCHEDULE 13D - ----------------------- ----------------------- CUSIP NO. 453077109 PAGE 5 OF 12 PAGES - ----------------------- ----------------------- - ------- ------------------------------------------------------- --------------- 1 NAME OF REPORTING PERSON Gotham Holdings II, L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------- ---------------------------------------------------------- ------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) [ ] - ------- ----------------------------------------------------------------------- 3 SEC USE ONLY - ------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - ------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - ------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - ------------------- ------ ---------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 0 ------ ---------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 ------ ---------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 ------ ---------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 0 - ---------- -------- ----------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - ---------- -------- ----------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ---------- -------- ----------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - ---------- -------- ----------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO; IA - ---------- -------- ----------------------------------------------------------- SCHEDULE 13D - ----------------------- ----------------------- CUSIP NO. 453077109 PAGE 6 OF 12 PAGES - ----------------------- ----------------------- - ------- ------------------------------------------------------- --------------- 1 NAME OF REPORTING PERSON Gotham Holdings Management, L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------- ---------------------------------------------------------- ------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) [ ] - ------- ----------------------------------------------------------------------- 3 SEC USE ONLY - ------- ----------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - ------- ----------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - ------- ----------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------- ------ ---------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER 25,504 ------ ---------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 ------ ---------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 25,504 ------ ---------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 0 - ---------- -------- ----------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 25,504 - ---------- -------- ----------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ---------- -------- ----------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.4% - ---------- -------- ----------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO; IA - ---------- -------- ----------------------------------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 ITEM 1. SECURITY AND ISSUER. This Amendment No. 8 (the "Amendment") amends and supplements the Statement on Schedule 13D, as previously amended (the "Prior Statement"), previously filed by Gotham Partners, L.P., a New York limited partnership ("Gotham"); Gotham Partners III, L.P., a New York limited partnership ("Gotham III"); Gotham Holdings Management, L.L.C., a Delaware limited liability company ("Gotham Management"), with respect to the holdings of Gotham Holdings I, L.L.C., a Delaware limited liability company ("Holdings I") and Gotham Holdings II, L.L.C., a Delaware limited liability company ("Holdings II"); and Gotham International Advisors, L.L.C., a Delaware limited liability company ("Gotham Advisors" together with Gotham, Gotham III, Gotham Management, and Holdings II, the "Reporting Persons"), with respect to holdings of Gotham Partners International, Ltd. ("Gotham International"), a Cayman exempted company; Section H Partners, L.P., a New York limited partnership ("Section H"); Mr. William A. Ackman; Mr. David P. Berkowitz; Karenina Corp., a New York corporation ("Karenina"); and DPB Corp., a New York corporation ("DPB Corp."), relating to the beneficial ownership of shares of common stock, $0.01 par value ("Common Stock"), of Imperial Parking Corporation, a Delaware corporation (the "Company"). Capitalized terms used herein and not otherwise defined shall have the respective meanings ascribed to them in the Prior Statement. Except as specifically provided herein, this Amendment does not modify any of the information previously reported in the Prior Statement. ITEM 2. IDENTITY AND BACKGROUND. Unchanged. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. Unchanged. ITEM 4. PURPOSE OF TRANSACTION. Item 4 is hereby amended by adding the following: The entities controlling the Reporting Persons have decided to wind up their investments. In connection therewith, the Reporting Persons anticipate disposing of all or substantially all of their Common Stock. However, there is no specific plan or proposal to dispose of such Common Stock, and any disposition would be subject to the Standstill Agreement (defined and described in Item 6 and attached as an exhibit hereto). ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. Unchanged. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Item 6 is hereby amended by adding the following: Pursuant to a Letter Agreement (the "Standstill Agreement"), dated January 22, 2003, by and among the Company, Gotham, Gotham III, Gotham Advisors and Gotham Management (the "Gotham Parties"), the Gotham Parties agreed that, until May 23, 2003 (the "Standstill Period"), unless specifically consented to in writing by the Company's Board of Directors, none of the Gotham Parties nor any person or entity, directly or indirectly, through one or more intermediaries, controlling, controlled by or under common control with any of the Gotham Parties, acting alone or as part of any group, will (i) sell, assign, pledge or otherwise dispose or encumber, or offer, seek or otherwise propose to dispose or encumber ownership (including, but not limited to, beneficial ownership as defined in Rule 13d-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) of any securities of the Company, or any rights or options to acquire any such ownership, (ii) make, or in any way participate in, any "solicitation" of "proxies" (as such terms are used in the Exchange Act) to vote or seek to advise any person or entity with respect to the voting of any securities of the Company, (iii) form, join, or participate in a "group" (within the meaning of Section 13d(3) of the Exchange Act) with respect to any voting securities of the Company, (iv) otherwise, whether alone or in concert with others, propose to the Company or any of its stockholders any merger, business combination, tender or exchange offer, restructuring, recapitalization, liquidation of or similar transaction with or involving the Company or otherwise act, whether alone or in concert with others, to seek to control, change or influence the management, Board of Directors or policies of the Company (except that any individual will be permitted to fulfill his duties as a Director of the Company) or nominate any person as a Director of the Company, or propose to the stockholders of the Company any matter to be voted upon by the stockholders of the Company, (v) solicit, negotiate with, or without the prior consent of the Company's Board of Directors or financial advisor, provide any information to, any person with respect to a merger, business combination, tender or exchange offer, restructuring, recapitalization, liquidation of or similar transaction with or involving the Company or any other acquisition of the Company, any acquisition of voting securities of or all or any portion of the assets of the Company, or any other similar transaction, (vi) announce an intention to, or enter into any discussions, negotiations, arrangements or understandings with any third party with respect to, any of the foregoing, or (vii) disclose any intention, plan or arrangement inconsistent with the foregoing. The Gotham Parties also agreed that, (i) prior to the termination of the Standstill Period, they would not request any amendment or waiver of the foregoing provisions other than by confidential communication with the Company's Board of Directors or its representatives, and (ii) if at any time during the Standstill Period, they are approached by any third party concerning their participation in a transaction involving the businesses, assets or securities of the Company, the Gotham Parties will promptly inform the Company's financial advisor. The foregoing summary of the Standstill Agreement is qualified in its entirety by reference to such agreement, a copy of which is attached as an exhibit hereto and incorporated herein by reference. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. The following exhibit is being filed with this Schedule: Exhibit 1. Letter Agreement, dated January 22, 2003, between the Company, Gotham, Gotham III, Gotham Advisors and Gotham Management. SIGNATURE After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: January 22, 2003 GOTHAM PARTNERS, L.P. By: Section H Partners, L.P. its general partner By: Karenina Corporation, a general partner of Section H Partners, L.P. By: /s/ William A. Ackman ---------------------------------- William A. Ackman President GOTHAM PARTNERS III, L.P. By: Section H Partners, L.P. its general partner By: Karenina Corporation, a general partner of Section H Partners, L.P. By: /s/ William A. Ackman ---------------------------------- William A. Ackman President GOTHAM INTERNATIONAL ADVISORS, L.L.C. By: /s/ William A. Ackman ---------------------------------- William A. Ackman Senior Managing Member GOTHAM HOLDINGS II, L.L.C. By: Gotham Holdings Management L.L.C., the Manager By: /s/ William A. Ackman ---------------------------------- William A. Ackman Managing Member GOTHAM HOLDINGS MANAGEMENT, L.L.C. By: /s/ William A. Ackman ---------------------------------- William A. Ackman Managing Member EX-99.1 3 exhibit1.txt EXHIBIT 1 Exhibit 1 Imperial Parking Corporation Suite 300 - 601 West Cordova Street Vancouver, British Columbia, Canada V6B 1G1 January 22, 2003 William A. Ackman c/o Gotham Partners, L.P. Gotham International Advisors, L.L.C. Gotham Partners III, L.P. Gotham Holdings Management, L.L.C. 110 East 42nd Street New York, New York 10017 Dear Bill, On behalf of Imperial Parking Corporation (the "Company"), we want to express our gratitude to you for your candor and professionalism in presenting to the Board of Directors the recent events concerning Gotham Partners, L.P. We submit the following four-month standstill, which we believe will provide the Board of Directors with the opportunity to explore the Company's strategic options to ensure that the interests of all constituencies are fully considered, and fully understand that Gotham's obligations under Paragraph 1 below will terminate at the expiration of that four-month period. 1. Standstill. Gotham Partners, L.P., Gotham International Advisors, L.L.C., Gotham Partners III, L.P. and Gotham Holdings Management, L.L.C., on their own behalf and on behalf of their principals (collectively, the "Gotham Parties"), hereby agree that from the date hereof until May 23, 2003 (the "Standstill Period"), unless specifically consented to in writing by the Board of Directors, none of the Gotham Parties nor any person or entity, directly or indirectly, through one or more intermediaries, controlling, controlled by or under common control with any of the Gotham Parties, acting alone or as part of any group, will: (a) sell, assign, pledge or otherwise dispose or encumber, or offer, seek or otherwise propose to dispose or encumber ownership (including, but not limited to, beneficial ownership as defined in Rule 13d-1 under the Exchange Act) of any securities of the Company, or any rights or options to acquire any such ownership, or (b) make, or in any way participate in, any "solicitation" of "proxies" (as such terms are used in the Exchange Act) to vote or seek to advise any person or entity with respect to the voting of any securities of the Company, or (c) form, join, or participate in a "group" (within the meaning of Section 13d(3) of the Exchange Act) with respect to any voting securities of the Company, or (d) otherwise, whether alone or in concert with others, propose to the Company or any of its stockholders any merger, business combination, tender or exchange offer, restructuring, recapitalization, liquidation of or similar transaction with or involving the Company or otherwise act, whether alone or in concert with others, to seek to control, change or influence the management, Board of Directors or policies of the Company (except that you shall, of course, be permitted to fulfill your duties as a Director of the Company) or nominate any person as a Director of the Company, or propose to the stockholders of the Company any matter to be voted upon by the stockholders of the Company, or (e) solicit, negotiate with, or without the prior consent of the Board of Directors or the Company's financial advisor, provide any information to, any person with respect to a merger, business combination, tender or exchange offer, restructuring, recapitalization, liquidation of or similar transaction with or involving the Company or any other acquisition of the Company, any acquisition of voting securities of or all or any portion of the assets of the Company, or any other similar transaction, or (f) announce an intention to, or enter into any discussions, negotiations, arrangements or understandings with any third party with respect to, any of the foregoing, or (g) disclose any intention, plan or arrangement inconsistent with the foregoing. In addition, the Gotham Parties agree that prior to the termination of the Standstill Period, the Gotham Parties will not request the Company, directly or indirectly, to amend or waive any provision of this Paragraph 1 (including this sentence), other than by means of a confidential communication made directly to the Board of Directors or its representatives. If at any time during the Standstill Period any of the Gotham Parties is approached by any third party concerning its participation in a transaction involving the assets or businesses of the Company or securities issued by the Company, the Gotham Parties hereby agree to promptly inform the financial advisor selected by the Company of the substance of such discussions and the parties thereto. 2. Remedies. The Gotham Parties further agree that monetary damages would not be a sufficient remedy for any breach of this agreement and that in addition to all other remedies, the Company shall be entitled to specific performance and injunctive or other equitable relief as a remedy for any such breach, and the Gotham Parties further agree to waive any requirement for the securing or posting of any bond in connection with any such remedy. In the event of litigation relating to this agreement, if a court of competent jurisdiction makes a final, non-appealable determination that the Gotham Parties have breached this agreement, the Gotham Parties agree to be liable for and pay to the Company on demand the reasonable legal fees and expenses incurred by such party in connection with such litigation. 3. Authority; Conflicting Agreements. The Gotham Parties represent and warrant that they have the power and authority to execute, deliver and perform their respective obligations under this agreement, and that this agreement is a valid, binding and enforceable obligation of each of the Gotham Parties. The Gotham Parties further represent and warrant that none of the Gotham Parties has entered into any agreements which would conflict with the terms hereof. 4. Waiver and Amendment. The Gotham Parties further agree that no failure or delay by the Company in exercising any right, power or privilege hereunder will operate as a waiver thereof, nor will any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power or privilege hereunder. The agreements set forth herein may only be waived or modified by an agreement in writing signed on behalf of the parties. 5. Successors and Assigns. This agreement shall inure to the benefit of and be enforceable by each of the parties and their successors and permitted assigns. 6. Severability. In case provisions of this agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this agreement shall not in any way be affected or impaired thereby. 7. Governing Law; Venue. The validity, interpretation, performance and enforcement of this agreement shall be governed by the laws of the State of New York. The parties hereby irrevocably and unconditionally consent to the exclusive jurisdiction of the courts of the State of New York located in New York County, New York and the United States District Court for the Southern District of the State of New York for any action, suit or proceeding arising out of or relating to this agreement or the Proposed Transaction, and agree not to commence any action, suit or proceeding related thereto except in such courts. The parties further hereby irrevocably and unconditionally waive any objection to the laying of venue of any action, suit or proceeding arising out of or relating to this agreement in the courts of the State of New York located in New York County, New York or the United States District Court for the Southern District of the State of New York, and hereby further irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. Each of the parties further agrees that service of any process, summons, notice or document by U.S. registered mail to its address set forth above shall be effective service of process for any action, suit or proceeding brought against it in any such court. 8. Counterparts. This agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute the same agreement. [signature pages to follow] Please acknowledge your agreement to the foregoing by countersigning this agreement in the place provided below and returning it to the undersigned. Very truly yours, IMPERIAL PARKING CORPORATION By: /s/ Charles Huntzinger ---------------------------------- Name: Charles Huntzinger Title: President and Chief Executive Officer Accepted and Agreed to, this 22nd day of January, 2003 GOTHAM PARTNERS, L.P. By: Section H Partners, L.P. its general partner By: Karenina Corporation, a general partner of Section H Partners, L.P. By: /s/ William A. Ackman -------------------------------- William A. Ackman President GOTHAM PARTNERS III, L.P. By: Section H Partners, L.P. its general partner By: Karenina Corporation, a general partner of Section H Partners, L.P. By: /s/ William A. Ackman -------------------------------- William A. Ackman President GOTHAM INTERNATIONAL ADVISORS, L.L.C. By: /s/ William A. Ackman -------------------------------- William A. Ackman Senior Managing Member GOTHAM HOLDINGS MANAGEMENT, L.L.C. By: /s/ William A. Ackman -------------------------------- William A. Ackman Managing Member -----END PRIVACY-ENHANCED MESSAGE-----