Common use of Contribution Transactions Clause in Contracts

Contribution Transactions. The Special Limited Partner hereby agrees to assign, set over, and transfer to the Operating Partnership, absolutely and unconditionally and free and clear of all pledges, claims, liens, charges, restrictions, exceptions, reservations, covenants and conditions, encumbrances and security interests of any kind or nature whatsoever (“Liens”), all of its right, title and interest in and to the SLP Interest in exchange for the consideration set forth in Section 1.2(a), and the Operating Partnership hereby agrees to redeem the SLP Interest. Additionally, AREP hereby agrees to contribute $750,000.00 in cash (the “Cash Consideration”) in exchange for the consideration set forth in Section 1.2(b) with such contribution effective prior to the consummation of the Mergers.