Edgar Filing: HPP BREP VI.TE.2 HOLDCO B LLC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

HPP BREP V HOLDCO B LLC

2. Issuer Name and Ticker or Trading Symbol
Hudson Pacific Properties, Inc. [HPP]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

C/O THE BLACKSTONE GROUP L.P., 345 PARK AVENUE

3. Date of Earliest Transaction (Month/Day/Year)
11/28/2016

(Street)

NEW YORK, NY 10154

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Common Units

⁽¹⁾

11/28/2016

307,659

⁽¹⁾

Common Stock

307,659

$ 32.5

See Footnotes ⁽²⁾ ⁽²⁹⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

107,674

⁽¹⁾

Common Stock

107,674

$ 32.5

See Footnotes ⁽³⁾ ⁽²⁹⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

276,637

⁽¹⁾

Common Stock

276,637

$ 32.5

See Footnotes ⁽⁴⁾ ⁽²⁹⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

75,642

⁽¹⁾

Common Stock

75,642

$ 32.5

See Footnotes ⁽⁵⁾ ⁽²⁹⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

30,638

⁽¹⁾

Common Stock

30,638

$ 32.5

See Footnotes ⁽⁶⁾ ⁽²⁹⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

219,045

⁽¹⁾

Common Stock

219,045

$ 32.5

See Footnotes ⁽⁷⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

63,793

⁽¹⁾

Common Stock

63,793

$ 32.5

See Footnotes ⁽⁸⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

133,743

⁽¹⁾

Common Stock

133,743

$ 32.5

See Footnotes ⁽⁹⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

108,563

⁽¹⁾

Common Stock

108,563

$ 32.5

See Footnotes ⁽¹⁰⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

676

⁽¹⁾

Common Stock

676

$ 32.5

See Footnotes ⁽¹¹⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

3,868

⁽¹⁾

Common Stock

3,868

$ 32.5

See Footnotes ⁽¹²⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

13,234

⁽¹⁾

Common Stock

13,234

$ 32.5

See Footnotes ⁽¹³⁾ ⁽³²⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

8,624

⁽¹⁾

Common Stock

8,624

$ 32.5

4,299

See Footnotes ⁽¹⁴⁾ ⁽²⁸⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

690,000

⁽¹⁾

Common Stock

690,000

$ 32.5

343,939

See Footnotes ⁽¹⁵⁾ ⁽²⁸⁾ ⁽²⁹⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

3,518,893

⁽¹⁾

Common Stock

3,518,893

$ 32.5

1,907,396

See Footnotes ⁽¹⁶⁾ ⁽²⁹⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

1,231,555

⁽¹⁾

Common Stock

1,231,555

$ 32.5

667,556

See Footnotes ⁽¹⁷⁾ ⁽²⁹⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

3,164,080

⁽¹⁾

Common Stock

3,164,080

$ 32.5

1,715,068

See Footnotes ⁽¹⁸⁾ ⁽²⁹⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

865,168

⁽¹⁾

Common Stock

865,168

$ 32.5

468,959

See Footnotes ⁽¹⁹⁾ ⁽²⁹⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

354,823

⁽¹⁾

Common Stock

354,823

$ 32.5

192,137

See Footnotes ⁽²⁰⁾ ⁽²⁹⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

2,451,274

⁽¹⁾

Common Stock

2,451,274

$ 32.5

1,331,054

See Footnotes ⁽²¹⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

713,884

⁽¹⁾

Common Stock

713,884

$ 32.5

387,643

See Footnotes ⁽²²⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

1,496,685

⁽¹⁾

Common Stock

1,496,685

$ 32.5

812,707

See Footnotes ⁽²³⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

1,214,894

⁽¹⁾

Common Stock

1,214,894

$ 32.5

659,693

See Footnotes ⁽²⁴⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

7,564

⁽¹⁾

Common Stock

7,564

$ 32.5

4,107

See Footnotes ⁽²⁵⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

43,292

⁽¹⁾

Common Stock

43,292

$ 32.5

23,507

See Footnotes ⁽²⁶⁾ ⁽³⁰⁾ ⁽³¹⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Common Units

⁽¹⁾

11/28/2016

148,092

⁽¹⁾

Common Stock

148,092

$ 32.5

80,415

See Footnotes ⁽²⁷⁾ ⁽³²⁾ ⁽³³⁾ ⁽³⁴⁾ ⁽³⁵⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
HPP BREP V HOLDCO B LLC C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK, NY 10154		X
HPP BREP V.TE.1 HOLDCO B LLC C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK, NY 10154		X
HPP BREP V.TE.2 HOLDCO B LLC C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK, NY 10154		X
HPP BREP V.F HOLDCO B LLC C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK, NY 10154		X
HPP BRE HOLDINGS V HOLDCO B LLC C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK, NY 10154		X
HPP BREP VI HOLDCO B LLC C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK, NY 10154		X
HPP BREP VI.TE.1 HOLDCO B LLC C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK, NY 10154		X
HPP BREP VI.TE.2 HOLDCO B LLC C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK, NY 10154		X
HPP BREP VI AV HOLDCO B LLC C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK, NY 10154		X
HPP BREP (AIV) VI HOLDCO B LLC C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK, NY 10154		X

Signatures

HPP BREP V HOLDCO B LLC, By: /s/ Michael Lascher, Name: Michael Lascher, Title: Managing Director		11/30/2016
^**Signature of Reporting Person		Date
HPP BREP V.TE.1 HOLDCO B LLC, By: /s/ Michael Lascher, Name: Michael Lascher, Title: Managing Director		11/30/2016
^**Signature of Reporting Person		Date
HPP BREP V.TE.2 HOLDCO B LLC, By: /s/ Michael Lascher, Name: Michael Lascher, Title: Managing Director		11/30/2016
^**Signature of Reporting Person		Date
HPP BREP V.F HOLDCO B LLC, By: /s/ Michael Lascher, Name: Michael Lascher, Title: Managing Director		11/30/2016
^**Signature of Reporting Person		Date
HPP BRE HOLDINGS V HOLDCO B LLC, By: /s/ Michael Lascher, Name: Michael Lascher, Title: Managing Director		11/30/2016
^**Signature of Reporting Person		Date
HPP BREP VI HOLDCO B LLC, By: /s/ Michael Lascher, Name: Michael Lascher, Title: Managing Director		11/30/2016
^**Signature of Reporting Person		Date
HPP BREP VI.TE.1 HOLDCO B LLC, By: /s/ Michael Lascher, Name: Michael Lascher, Title: Managing Director		11/30/2016
^**Signature of Reporting Person		Date
HPP BREP VI.TE.2 HOLDCO B LLC, By: /s/ Michael Lascher, Name: Michael Lascher, Title: Managing Director		11/30/2016
^**Signature of Reporting Person		Date
HPP BREP VI AV HOLDCO B LLC, By: /s/ Michael Lascher, Name: Michael Lascher, Title: Managing Director		11/30/2016
^**Signature of Reporting Person		Date
HPP BREP (AIV) VI HOLDCO B LLC, By: /s/ Michael Lascher, Name: Michael Lascher, Title: Managing Director		11/30/2016
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Pursuant to the terms of the Third Amended and Restated Limited Partnership Agreement of Hudson Pacific Properties, L.P., and subject to certain requirements and restrictions, the common units of Hudson Pacific Properties, L.P. (the "Common Units") are redeemable for shares of common stock of the issuer, on a one-for-one basis or, at the option of the issuer, for cash.
(2)	Reflects securities of the issuer held directly by HPP BREP V Holdco B LLC. HPP BREP V Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners V L.P.
(3)	Reflects securities of the issuer held directly by HPP BREP V.TE.1 Holdco B LLC. HPP BREP V.TE.1 Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners V.TE.1 L.P.
(4)	Reflects securities of the issuer held directly by HPP BREP V.TE.2 Holdco B LLC. HPP BREP V.TE.2 Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners V.TE.2 L.P.
(5)	Reflects securities of the issuer held directly by HPP BREP V.F Holdco B LLC. HPP BREP V.F Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners V.F L.P.
(6)	Reflects securities of the issuer held directly by HPP BRE Holdings V Holdco B LLC. HPP BRE Holdings V Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Holdings V L.P.
(7)	Reflects securities of the issuer held directly by HPP BREP VI Holdco B LLC. HPP BREP VI Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners VI L.P.
(8)	Reflects securities of the issuer held directly by HPP BREP VI.TE.1 Holdco B LLC. HPP BREP VI.TE.1 Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners VI.TE.1 L.P.
(9)	Reflects securities of the issuer held directly by HPP BREP VI.TE.2 Holdco B LLC. HPP BREP VI.TE.2 Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners VI.TE.2 L.P.
(10)	Reflects securities of the issuer held directly by HPP BREP VI AV Holdco B LLC. HPP BREP VI AV Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners VI (AV) L.P.
(11)	Reflects securities of the issuer held directly by HPP BREP (AIV) VI Holdco B LLC. HPP BREP (AIV) VI Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners (AIV) VI L.P.
(12)	Reflects securities of the issuer held directly by HPP BRE Holdings VI Holdco B LLC. HPP BRE Holdings VI Holdco B LLC is a wholly-owned subsidiary of Blackstone Real Estate Holdings VI L.P.
(13)	Reflects securities of the issuer held directly by HPP BFREP VI SMD Holdco B LLC. HPP BFREP VI SMD Holdco B LLC is a wholly-owned subsidiary of Blackstone Family Real Estate Partnership VI - SMD L.P.
(14)	Reflects securities of the issuer held directly by Nantucket Services, LLC.
(15)	Reflects securities of the issuer held directly by Blackhawk Services II LLC.
(16)	Reflects securities of the issuer held directly by HPP BREP V Holdco A LLC. HPP BREP V Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners V L.P.
(17)	Reflects securities of the issuer held directly by HPP BREP V.TE.1 Holdco A LLC. HPP BREP V.TE.1 Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners V.TE.1 L.P.
(18)	Reflects securities of the issuer held directly by HPP BREP V.TE.2 Holdco A LLC. HPP BREP V.TE.2 Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners V.TE.2 L.P.
(19)	Reflects securities of the issuer held directly by HPP BREP V.F Holdco A LLC. HPP BREP V.F Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners V.F L.P.
(20)	Reflects securities of the issuer held directly by HPP BRE Holdings V Holdco A LLC. HPP BRE Holdings V Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Holdings V L.P.
(21)	Reflects securities of the issuer held directly by HPP BREP VI Holdco A LLC. HPP BREP VI Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners VI L.P.
(22)	Reflects securities of the issuer held directly by HPP BREP VI.TE.1 Holdco A LLC. HPP BREP VI.TE.1 Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners VI.TE.1 L.P.
(23)	Reflects securities of the issuer held directly by HPP BREP VI.TE.2 Holdco A LLC. HPP BREP VI.TE.2 Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners VI.TE.2 L.P.
(24)	Reflects securities of the issuer held directly by HPP BREP VI AV Holdco A LLC. HPP BREP VI AV Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners VI (AV) L.P.
(25)	Reflects securities of the issuer held directly by HPP BREP (AIV) VI Holdco A LLC. HPP BREP (AIV) VI Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Partners (AIV) VI L.P.
(26)	Reflects securities of the issuer held directly by HPP BRE Holdings VI Holdco A LLC. HPP BRE Holdings VI Holdco A LLC is a wholly-owned subsidiary of Blackstone Real Estate Holdings VI L.P.
(27)	Reflects securities of the issuer held directly by HPP BFREP VI SMD Holdco A LLC. HPP BFREP VI SMD Holdco A LLC is a wholly-owned subsidiary of Blackstone Family Real Estate Partnership VI - SMD L.P.
(28)	The manager of Nantucket Services, LLC is, acting collectively and unanimously, Blackstone Real Estate Partners V L.P., Blackstone Real Estate Partners V.TE.1 L.P., Blackstone Real Estate Partners V.TE.2 L.P., Blackstone Real Estate Partners V.F L.P. and Blackstone Real Estate Holdings V L.P. The manager of Blackhawk Services II LLC is, acting collectively and unanimously, Blackstone Real Estate Partners V L.P. and Blackstone Real Estate Partners VI L.P.
(29)	The general partner of each of Blackstone Real Estate Partners V L.P., Blackstone Real Estate Partners V.TE.1 L.P., Blackstone Real Estate Partners V.TE.2 L.P. and Blackstone Real Estate Partners V.F L.P. is Blackstone Real Estate Associates V L.P. The general partner of Blackstone Real Estate Associates V L.P. is BREA V L.L.C. The general partner of Blackstone Real Estate Holdings V L.P. is BREP V Side-by-Side GP L.L.C. The sole member of BREP V Side-by-Side GP L.L.C., and the managing member of BREA V L.L.C., is Blackstone Holdings II L.P. The general partner of Blackstone Holdings II L.P. is Blackstone Holdings I/II GP Inc. The sole shareholder of Blackstone Holdings I/II GP Inc. is The Blackstone Group L.P.
(30)	The general partner of each of Blackstone Real Estate Partners VI L.P., Blackstone Real Estate Partners VI.TE.1 L.P., Blackstone Real Estate Partners VI.TE.2 L.P., Blackstone Real Estate Partners VI (AV) L.P. and Blackstone Real Estate Partners (AIV) VI L.P. is Blackstone Real Estate Associates VI L.P. The general partner of Blackstone Real Estate Associates VI L.P. is BREA VI L.L.C. The general partner of Blackstone Real Estate Holdings VI L.P. is BREP VI Side-by-Side GP L.L.C. The sole member of BREP VI Side-by-Side GP L.L.C., and the managing member of BREA VI L.L.C., is Blackstone Holdings III L.P. The general partner of Blackstone Holdings III L.P. is Blackstone Holdings III GP L.P. The general partner of Blackstone Holdings III GP L.P. is Blackstone Holdings III GP Management L.L.C. The sole member of Blackstone Holdings III GP Management L.L.C. is The Blackstone Group L.P.
(31)	The general partner of The Blackstone Group L.P. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.
(32)	The general partner of Blackstone Family Real Estate Partnership VI - SMD L.P. is Blackstone Family GP L.L.C., which is in turn, wholly owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.
(33)	Due to the limitations of the electronic filing system certain Reporting Persons are filing a separate Form 4.
(34)	Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.
(35)	Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are subject to Section 16 of the Act.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.