Common use of Conversion Redemption Clause in Contracts

Conversion Redemption. On the Effective Date, immediately after the consummation of the REIT IPO and simultaneously with the consummation of the Merger, the Initial Limited Partner shall (pursuant to Section 8.7) exchange Class A Units for shares of Public REIT Common Stock, and such Class A Units shall be automatically converted into Common Units. The Partner Registry attached hereto as Exhibit A reflects the effect of this exchange.

Conversion Redemption. On the Effective Date, immediately after the consummation of the REIT IPO and simultaneously with the consummation of the Merger, the Initial Limited Partner shall (pursuant to Section 8.7) exchange 1,551,878 Class A Units for 1,551,878 shares of Public REIT Common Stock, and such Class A Units shall be automatically converted into Common Units. The Partner Registry attached hereto as Exhibit A reflects the effect of this exchange.