Conversion of Membership Interests. As of the Effective Time, all Membership Interests shall be automatically converted, on a one-for-one basis, into partnership interests in the Fund and the Membership Interests shall no longer be outstanding and shall automatically be cancelled and cease to exist.
Appears in 36 contracts
Samples: Agreement and Plan of Merger (U S Restaurant Properties Inc), Agreement and Plan of Merger (U S Restaurant Properties Inc), Agreement and Plan of Merger (CNL Income Fund Vi LTD)