Common use of Distribution Rights Clause in Contracts

Distribution Rights. (a) Holders of K-SCUs shall be entitled to receive, when, as and if declared by the General Partner distributions with respect to the K-SCUs in the manner and to the fullest extent set forth in the Partnership Agreement. (b) Distributions with respect to the K-SCUs shall be payable on the dates designated by the General Partner for the payment of distributions to the holders of Common Units. Any distribution payable on the K-SCUs for the quarter in which the K-SCUs are first issued will be prorated and computed on the basis of a 360-day year consisting of twelve 30-day months. Distributions will be payable to holders of record of the K-SCUs as they appear in the records of the Operating Partnership at the close of business on the applicable record date, which shall be the record date designated by the General Partner for the payment of distributions for such quarter to the holders of Common Units. (c) At such time, if any, as there is any distribution shortfall with respect to the K-SCUs as described in Section 6.2(d)(i) of the Partnership Agreement, none of the Operating Partnership, the General Partner or the REIT will redeem, purchase or otherwise acquire for any consideration (or any moneys be paid to or made available for any sinking fund for the redemption of any such units) any Common Units or any other units of interest in the Partnership that by their terms rank junior as to distributions to the rights of the K-SCUs (except by conversion into or exchange for shares of Common Stock of the REIT or other units of the Operating Partnership ranking junior to the K-SCUs as to distributions). (d) Distributions with respect to the K-SCUs are intended to qualify as permitted distributions of cash that are not treated as a disguised sale within the meaning of Treasury Regulation 1.707-4, and the provisions of this Exhibit K shall be construed and applied consistent with such Treasury Regulations.

Distribution Rights. (a) Holders of K-SCUs shall be entitled to receive, when, as and if declared by the General Partner distributions with respect to the K-SCUs in the manner and to the fullest extent set forth in the Partnership Agreement. (b) Distributions with respect to the K-SCUs shall be payable on the dates designated by the General Partner for the payment of distributions to the holders of Common Units. Any distribution payable on the K-SCUs for the quarter in which the K-SCUs are first issued will be prorated and computed on the basis of a 360-day year consisting of twelve 30-day months; provided, however, that in the case of SCUs issued on January 31, 2001, the distribution payable for the first fiscal quarter following issuance, shall be reduced by the amount of $.0080625 per SCU. Distributions will be payable to holders of record of the K-SCUs as they appear in the records of the Operating Partnership at the close of business on the applicable record date, which shall be the record date designated by the General Partner for the payment of distributions for such quarter to the holders of Common Units. (c) At such time, if any, as there is any distribution shortfall with respect to the K-SCUs as described in Section 6.2(d)(i6.2(a)(iii) of the Partnership Agreement, none of the Operating Partnership, the General Partner or the REIT will redeem, purchase or otherwise acquire for any consideration (or any moneys be paid to or made available for any sinking fund for the redemption of any such units) any Common Units or any other units of interest in the Partnership that by their terms rank ranking junior as to distributions to the rights of the K-SCUs (except by conversion into or exchange for shares of Common Stock of the REIT or other units of the Operating Partnership ranking junior to the K-SCUs as to distributions). (d) Distributions with respect to the K-SCUs are intended to qualify as permitted distributions of cash that are not treated as a disguised sale within the meaning of Treasury Regulation 1.707-4, and the provisions of this Exhibit K E shall be construed and applied consistent with such Treasury Regulations.

Distribution Rights. (a) Holders of K-SCUs shall be entitled to receive, when, as and if declared by the General Partner distributions with respect to the K-SCUs in the manner and to the fullest extent set forth in the Partnership Agreement. (b) Distributions with respect to the K-SCUs shall be payable on the dates designated by the General Partner for the payment of distributions to the holders of SCUs and Common Units. Any distribution payable on the K-SCUs for the quarter in which the K-SCUs are first issued will be prorated and computed on the basis of a 360-day year consisting of twelve 30-day months; provided, however, that in the case of SCUs issued on January 31, 2001, the distribution payable for the first fiscal quarter following issuance, shall be reduced by the amount of $.0080625 per SCU. Distributions will be payable to holders holder of record of the K-SCUs as they appear in the records of the Operating Partnership at the close of business on the applicable record date, which shall be the record date designated by the General Partner for the payment of distributions for such quarter to the holders of SCUs and Common Units. (c) At such time, if any, as there is any distribution shortfall with respect to the K-SCUs as described in Section 6.2(d)(iSubsection 6.2(a)(iii) of the Partnership Agreement, none of the Operating Partnership, the General Partner or the REIT will redeem, purchase or otherwise acquire for any consideration (or any moneys be paid to or made available for any sinking fund for the redemption of any such units) any Common Units or any other units of interest in the Partnership that by their terms rank junior as to distributions to the rights of the K-SCUs (except by conversion into or exchange for shares of Common Stock of the REIT or other units of the Operating Partnership ranking junior to the K-SCUs as to distributions). (d) Distributions with respect to the K-SCUs are intended to qualify as permitted distributions of cash that are not treated as a disguised sale within the meaning of Treasury Regulation Section 1.707-4, and the provisions of this Exhibit K E shall be construed and applied consistent with such Treasury Regulations.

Distribution Rights. (a) Holders of KS-SCUs shall be entitled to receive, when, as and if declared by the General Partner distributions with respect to the KS-SCUs in the manner and to the fullest extent set forth in the Partnership Agreement. (b) Distributions with respect to the KS-SCUs shall be payable on the dates designated by the General Partner for the payment of distributions to the holders of SCUs and Common Units. Any distribution payable on the KS-SCUs for the quarter in which the KS-SCUs are first issued will be prorated and computed on the basis of a 360-day year consisting of twelve 30-day months. Distributions will be payable to holders of record of the KS-SCUs as they appear in the records of the Operating Partnership at the close of business on the applicable record date, which shall be the record date designated by the General Partner for the payment of distributions for such quarter to the holders of SCUs and Common Units. (c) At such time, if any, as there is any distribution shortfall with respect to the KS-SCUs as described in Section 6.2(d)(i6.2(b)(i) of the Partnership Agreement, none of the Operating Partnership, the General Partner or the REIT will redeem, purchase or otherwise acquire for any consideration (or any moneys be paid to or made available for any sinking fund for the redemption of any such units) any Common Units or any other units of interest in the Partnership that by their terms rank junior as to distributions to the rights of the KS-SCUs (except by conversion into or exchange for shares of Common Stock of the REIT or other units of the Operating Partnership ranking junior to the KS-SCUs as to distributions). (d) Distributions with respect to the KS-SCUs are intended to qualify as permitted distributions of cash that are not treated as a disguised sale within the meaning of Treasury Regulation 1.707-4, and the provisions of this Exhibit K H shall be construed and applied consistent with such Treasury Regulations.

Distribution Rights. (a) Holders of KS-SCUs shall be entitled to receive, when, as and if declared by the General Partner distributions with respect to the KS-SCUs in the manner and to the fullest extent set forth in the Partnership Agreement. (b) Distributions with respect to the KS-SCUs shall be payable on the dates designated by the General Partner for the payment of distributions to the holders of SCUs and Common Units. Any distribution payable on the KS-SCUs for the quarter in which the KS-SCUs are first issued will be prorated and computed on the basis of a 360-day year consisting of twelve 30-day months. Distributions will be payable to holders of record of the KS-SCUs as they appear in the records of the Operating Partnership at the close of business on the applicable record date, which shall be the record date designated by the General Partner for the payment of distributions for such quarter to the holders of SCUs and Common Units. (c) At such time, if any, as there is any distribution shortfall with respect to the KS-SCUs as described in Section 6.2(d)(iSubsection 6.2(b)(i) of the Partnership Agreement, none of the Operating Partnership, the General Partner or the REIT will redeem, purchase or otherwise acquire for any consideration (or any moneys be paid to or made available for any sinking fund for the redemption of any such units) any Common Units or any other units of interest in the Partnership that by their terms rank junior as to distributions to the rights of the KS-SCUs (except by conversion into or exchange for shares of Common Stock of the REIT or other units of the Operating Partnership ranking junior to the KS-SCUs as to distributions). (d) Distributions with respect to the KS-SCUs are intended to qualify as permitted distributions of cash that are not treated as a disguised sale within the meaning of Treasury Regulation Section 1.707-4, and the provisions of this Exhibit K H shall be construed and applied consistent with such Treasury Regulations.

Distribution Rights. (a) Holders of K-SCUs shall be entitled to receive, when, as and if declared by the General Partner distributions with respect to the K-SCUs in the manner and to the fullest extent set forth in the Partnership Agreement. (b) Distributions with respect to the K-SCUs shall be payable on the dates designated by the General Partner for the payment of distributions to the holders of Common Units. Any distribution payable on the K-SCUs for the quarter in which the K-SCUs are first issued will be prorated and computed on the basis of a 360-day year consisting of twelve 30-day months. Distributions will be payable to holders of record of the K-SCUs as they appear in the records of the Operating Partnership at the close of business on the applicable record date, which shall be the record date designated by the General Partner for the payment of distributions for such quarter to the holders of Common Units. (c) At such time, if any, as there is any distribution shortfall with respect to the K-SCUs as described in Section 6.2(d)(i6.2(a)(iii) of the Partnership Agreement, none of the Operating Partnership, the General Partner or the REIT will redeem, purchase or otherwise acquire for any consideration (or any moneys be paid to or made available for any sinking fund for the redemption of any such units) any Common Units or any other units of interest in the Partnership that by their terms rank ranking junior as to distributions to the rights of the K-SCUs (except by conversion into or exchange for shares of Common Stock of the REIT or other units of the Operating Partnership ranking junior to the K-SCUs as to distributions). (d) Distributions with respect to the K-SCUs are intended to qualify as permitted distributions of cash that are not treated as a disguised sale within the meaning of Treasury Regulation 1.707-4, and the provisions of this Exhibit K E shall be construed and applied consistent with such Treasury Regulations.

Distribution Rights. (a) Holders of KS-SCUs shall be entitled to receive, when, as and if declared by the General Partner distributions with respect to the KS-SCUs in the manner and to the fullest extent set forth in the Partnership Agreement. (b) Distributions with respect to the KS-SCUs shall be payable on the dates designated by the General Partner for the payment of distributions to the holders of SCUs and Common Units. Any distribution payable on the KS-SCUs for the quarter in which the KS-SCUs are first issued will be prorated and computed on the basis of a 360-day year consisting of twelve 30-day months. Distributions will be payable to holders of record of the KS-SCUs as they appear in the records of the Operating Partnership at the close of business on the applicable record date, which shall be the record date designated by the General Partner for the payment of distributions for such quarter to the holders of SCUs and Common Units. (c) At such time, if any, as there is any distribution shortfall with respect to the KS-SCUs as described in Section 6.2(d)(i6.2(b)(i) of the Partnership Agreement, none of the Operating Partnership, the General Partner or the REIT will redeem, purchase or otherwise acquire for any consideration (or any moneys be paid to or made available for any sinking fund for the redemption of any such units) any Common Units or any other units of interest in the Partnership that by their terms rank junior as to distributions to the rights of the KS-SCUs (except by conversion into or exchange for shares of Common Stock of the REIT or other units of the Operating Partnership ranking junior to the KS-SCUs as to distributions). (d) Distributions with respect to the KS-SCUs are intended to qualify as permitted distributions of cash that are not treated as a disguised sale within the meaning of Treasury Regulation Section 1.707-4, and the provisions of this Exhibit K H shall be construed and applied consistent with such Treasury Regulations.

Distribution Rights. (a) Holders of K-SCUs shall be entitled to receive, when, as and if declared by the General Partner distributions with respect to the K-SCUs in the manner and to the fullest extent set forth in the Partnership Agreement. (b) Distributions with respect to the K-SCUs shall be payable on the dates designated by the General Partner for the payment of distributions to the holders of Common Units. Any distribution payable on the K-SCUs for the quarter in which the K-SCUs are first issued will be prorated and computed on the basis of a 360-day year consisting of twelve 30-day months. Distributions will be payable to holders of record of the K-SCUs as they appear in the records of the Operating Partnership at the close of business on the applicable record date, which shall be the record date designated by the General Partner for the payment of distributions for such quarter to the holders of Common Units. (c) At such time, if any, as there is any distribution shortfall with respect to the K-SCUs as described in Section 6.2(d)(iSubsection 6.2(e)(i) of the Partnership Agreement, none of the Operating Partnership, the General Partner or the REIT will redeem, purchase or otherwise acquire for any consideration (or any moneys be paid to or made available for any sinking fund for the redemption of any such units) any Common Units or any other units of interest in the Partnership that by their terms rank junior as to distributions to the rights of the K-SCUs (except by conversion into or exchange for shares of Common Stock of the REIT or other units of the Operating Partnership ranking junior to the K-SCUs as to distributions). (d) Distributions with respect to the K-SCUs are intended to qualify as permitted distributions of cash that are not treated as a disguised sale within the meaning of Treasury Regulation 1.707-4, and the provisions of this Exhibit K shall be construed and applied consistent with such Treasury Regulations.