Deemed Redemption. Notwithstanding any provision of this Agreement to the contrary, in the event that an Investor receives a distribution with respect to its Invested Capital under Section 4.2(ii) hereof, such distribution shall be treated for all purposes of this Agreement (specifically including, but not limited to, the provisions of this Article X) as a redemption by the Company of a portion of the Class B Units held by such Investor at such time. The number of Class B Units that are deemed to be redeemed by the Company in accordance with the provisions of this Section 10.11, shall be determined by multiplying an amount equal to all of the Class B Units held by such Investor immediately prior to such distribution by a fraction, the numerator of which shall be equal to the applicable distribution made to such Investor at such time with respect to its Invested Capital under Section 4.2(ii) hereof and the denominator of which shall be equal to the Invested Capital of such Investor immediately prior to such distribution.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (Inland American Real Estate Trust, Inc.), Limited Liability Company Agreement (Inland American Real Estate Trust, Inc.), Limited Liability Company Agreement (Inland American Real Estate Trust, Inc.)
Deemed Redemption. Notwithstanding any provision of this Agreement to the contrary, in the event that an the Investor receives a distribution with respect to its Invested Capital under Section 4.2(ii) hereof, such distribution shall be treated for all purposes of this Agreement (specifically including, but not limited to, the provisions of this Article X) as a redemption by the Company of a portion of the Class B Units held by such the Investor at such time. The number of Class B Units that are deemed to be redeemed by the Company in accordance with the provisions of this Section 10.11, shall be determined by multiplying an amount equal to all of the Class B Units held by such the Investor immediately prior to such distribution by a fraction, the numerator of which shall be equal to the applicable distribution made to such the Investor at such time with respect to its Invested Capital under Section 4.2(ii) hereof and the denominator of which shall be equal to the Invested Capital of such the Investor immediately prior to such distribution.. ARTICLE XI
Appears in 1 contract
Samples: Limited Liability Company Agreement (Inland Diversified Real Estate Trust, Inc.)
