Common use of Exchange Restrictions Clause in Contracts

Exchange Restrictions. Without the prior written consent of CCC, which shall not be unreasonably withheld, the undersigned shall not exchange any Special Common Units into cash or Common Shares pursuant to the Exchange Rights Agreement (the "Exchange of Special Common Units") until November 17, 2004; provided, however, that the foregoing restriction with respect to the Exchange of Special Common Units shall terminate upon the death of the undersigned and shall not apply to the exchange of Special Common Units following the foreclosure or other exercise of remedies by a pledgee which is an Institutional Lender (as defined below) in accordance with Section 3; provided, further, however, that the consent of CCC shall be deemed reasonably withheld if CCC could reasonably anticipate adverse tax consequences to CCC or CharterMac resulting from granting such consent. Notwithstanding the provisions of Section 1 hereof, to the extent the restrictions on the Exchange of Special Common Units have not previously been removed, all such restrictions shall expire after the first anniversary of the date hereof.

Exchange Restrictions. Without the prior written consent of CCC, which shall not be unreasonably withheld, the undersigned shall not exchange any Special Common Units into cash or Common Shares pursuant to the Exchange Rights Agreement (the "Exchange of Special Common Units") until November 17, 2004the first anniversary of the date hereof; provided, however, that the foregoing restriction with respect to the Exchange of Special Common Units shall terminate upon the death of the undersigned and shall not apply to the exchange Exchange of Special Common Units following the foreclosure or other exercise of remedies by a pledgee which is an Institutional Lender (as defined below) in accordance with Section 34; provided, further, however, that the consent of CCC shall be deemed reasonably withheld if CCC could reasonably anticipate adverse tax consequences to CCC or CharterMac resulting from granting such consent. Notwithstanding the provisions of Section 1 hereof, to To the extent the restrictions on the Exchange of Special Common Units have not previously been removed, all such restrictions shall expire after the first anniversary of the date hereof.