Exchanges and Conversions Sample Clauses

Exchanges and Conversions. If the Sole Member, whether automatically or in its discretion, exchanges any REIT Shares of any Class (“Exchanged REIT Shares”) for, or converts any REIT Shares of any Class to, REIT Shares of a different Class (“Received REIT Shares”), then the General Partner shall cause the Partnership to exchange or convert a number of the Sole Member’s Partnership Units having the same Class designation as the Exchanged REIT Shares for Partnership Units having the same Class designation as the Received REIT Shares, on the same terms that the Sole Member exchanged or converted the Exchanged REIT Shares.