Exchange Rights Agreements. (a) The Limited Partners (other than the General Partner in its capacity as a Limited Partner) will be granted the right, but not the obligation, to exchange all or a portion of their Partnership Units for cash or, at the option of the Partnership, for shares of Common Stock on such terms and subject to such conditions and restrictions as will be contained in one or more exchange rights agreements among the General Partner, the Partnership and one or more Limited Partners (as amended from time to time, the “Exchange Rights Agreements”); provided, however, that such Partnership Units shall have been outstanding for at least one year. The form of each Exchange Rights Agreement governing the exchange of Partnership Units hereafter shall be determined by the General Partner.
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Samples: Inland Residential Properties Trust, Inc., Inland Residential Properties Trust, Inc., Inland Retail Properties Trust V, Inc.
Exchange Rights Agreements. (a) The Limited Partners (other than except for the General Partner in its capacity as a Initial Limited Partner) will be granted the right, but not the obligation, to exchange all or a portion of their Partnership Units for cash or, at the option of the Partnership, for shares of Common Stock on such terms and subject to such conditions and restrictions as will be contained in one or more exchange rights agreements among the General Partner, the Partnership and one or more Limited Partners (as amended from time to time, the “Exchange Rights Agreements”); provided, however, that such Partnership Units shall have been outstanding for at least one year. The form of each Exchange Rights Agreement governing the exchange of Partnership Units hereafter shall be determined by the General Partner.
Appears in 4 contracts
Samples: Agreement (Phillips Edison - ARC Grocery Center REIT II, Inc.), Phillips Edison Grocery Center REIT III, Inc., Amended and Restated Agreement (Phillips Edison - ARC Shopping Center REIT Inc.)
Exchange Rights Agreements. (af) The Limited Partners (other than except for the General Partner in its capacity as a Initial Limited Partner) will be granted the right, but not the obligation, to exchange all or a portion of their Partnership Units for cash or, at the option of the Partnership, for shares of Common Stock on such terms and subject to such conditions and restrictions as will be contained in one or more exchange rights agreements among the General Partner, the Partnership and one or more Limited Partners (as amended from time to time, the “Exchange Rights Agreements”); provided, however, that such Partnership Units shall have been outstanding for at least one year. The form of each Exchange Rights Agreement governing the exchange of Partnership Units hereafter shall be determined by the General Partner.
Appears in 1 contract
Exchange Rights Agreements. (af) The Limited Partners (other than except for the General Partner in its capacity as a Initial Limited Partner) will be granted the right, but not the obligation, to exchange all or a portion of their Partnership Units for cash or, at the option of the Partnership, for shares of Common Stock on such terms and subject to such conditions and restrictions as will be contained in one or more exchange rights agreements among the General Partner, the Partnership and one or more Limited Partners (as amended from time to time, the “Exchange Rights Agreements”); provided, however, that such Partnership Units shall have been outstanding for at least one year. The form of each Exchange Rights 50 Agreement governing the exchange of Partnership Units hereafter shall be determined by the General Partner.
Appears in 1 contract
Samples: Agreement (Phillips Edison Grocery Center Reit Ii, Inc.)