Common use of Carry Crystallization Clause in Contracts

Carry Crystallization. On the Effective Date, immediately after the consummation of the REIT IPO but prior to the transactions described in the following subsections of this Section 4.6, as an accelerated payment of the Initial Limited Partner’s carried interest, the Partnership shall issue the Initial Limited Partner 1,167,287 Common Units and shall cancel an equal number of Class A Units held by the Predecessor General Partner. The Partner Registry attached hereto as Exhibit A reflects the effect of this issuance, cancellation and allocation.

Carry Crystallization. On the Effective Date, immediately after the consummation of the REIT IPO but prior to the transactions described in the following subsections of this Section 4.6, as an accelerated payment of the Initial Limited Partner’s carried interest, the Partnership shall issue the Initial Limited Partner 1,167,287 Common Units and shall cancel an equal number of Class A Units held by the Predecessor General Partner. The Partner Registry attached hereto as Exhibit A reflects the effect of this issuance, cancellation and allocation.