Common use of Fractional Interest Clause in Contracts

Fractional Interest. No fractional OP Units or REIT Shares shall be issued pursuant to this Agreement or the other Formation Transaction Documentation. All fractional OP Units that a Nominee would otherwise be entitled to receive as a result of the Formation Transactions shall be aggregated, and the Nominee shall receive the number of whole OP Units resulting from such aggregation and, in lieu of any fractional OP Unit resulting from such aggregation, an amount in cash determined by multiplying that fraction of an OP Unit to which the Nominee would otherwise have been entitled, by the Offering Price. All fractional REIT Shares that a Nominee would otherwise be entitled to receive as a result of the Formation Transactions shall be aggregated, and the Nominee shall receive the number of whole REIT Shares resulting from such aggregation and, in lieu of any fractional REIT Share resulting from such aggregation, an amount in cash determined by multiplying that fraction of a REIT Share to which the Nominee would otherwise have been entitled, by the Offering Price. No interest will be paid or will accrue on any cash paid or payable in lieu of any fractional OP Unit or REIT Share.

Fractional Interest. No fractional OP Units or REIT Shares shall be issued pursuant to this Agreement or the other Formation Transaction DocumentationAgreement. All fractional OP Units that a Nominee Contributor would otherwise be entitled to receive as a result of its contribution and the other Formation Transactions shall be aggregated, and the Nominee each Contributor shall receive the number of whole OP Units resulting from such aggregation and, in lieu of any fractional OP Unit resulting from such aggregation, an amount in cash determined by multiplying that fraction of an OP Unit to which the Nominee such Contributor would otherwise have been entitled, by the Offering IPO Price. All fractional REIT Shares that a Nominee Contributor would otherwise be entitled to receive as a result of its contribution and the other Formation Transactions shall be aggregated, and the Nominee such Contributor shall receive the number of whole REIT Shares resulting from such aggregation and, in lieu of any fractional REIT Share resulting from such aggregation, an amount in cash determined by multiplying that fraction of a REIT Share Shares to which the Nominee such Contributor would otherwise have been entitled, by the Offering IPO Price. No interest will be paid or will accrue on any cash paid or payable in lieu of any fractional OP Unit or REIT Share.

Fractional Interest. No fractional OP Units or REIT Shares shall be issued pursuant to this Agreement or the other Formation Transaction Documentation. All fractional OP Units that a Nominee the Contributor would otherwise be entitled to receive as a result of the Formation Transactions shall be aggregated, and the Nominee Contributor shall receive the number of whole OP Units resulting from such aggregation and, in lieu of any fractional OP Unit resulting from such aggregation, an amount in cash determined by multiplying that fraction of an OP Unit to which the Nominee Contributor would otherwise have been entitled, by the Offering Price. All fractional REIT Shares that a Nominee the Contributor would otherwise be entitled to receive as a result of the Formation Transactions shall be aggregated, and the Nominee Contributor shall receive the number of whole REIT Shares resulting from such aggregation and, in lieu of any fractional REIT Share resulting from such aggregation, an amount in cash determined by multiplying that fraction of a REIT Share to which the Nominee Contributor would otherwise have been entitled, by the Offering Price. No interest will be paid or will accrue on any cash paid or payable in lieu of any fractional OP Unit or REIT Share.

Fractional Interest. No fractional OP Units or REIT Shares shall be issued pursuant to this Agreement or the other Formation Transaction DocumentationAgreement. All fractional OP Units that a Nominee Contributor would otherwise be entitled to receive as a result of the Contribution and the other Formation Transactions shall be aggregated, and the Nominee each Contributor shall receive the number of whole OP Units resulting from such aggregation and, in lieu of any fractional OP Unit resulting from such aggregation, an amount in cash determined by multiplying that fraction of an OP Unit to which the Nominee such Contributor would otherwise have been entitled, by the Offering IPO Price. All fractional REIT Shares that a Nominee Contributor would otherwise be entitled to receive as a result of the Contribution and the other Formation Transactions shall be aggregated, and the Nominee such Contributor shall receive the number of whole REIT Shares resulting from such aggregation and, in lieu of any fractional REIT Share resulting from such aggregation, an amount in cash determined by multiplying that fraction of a REIT Share Shares to which the Nominee such Contributor would otherwise have been entitled, by the Offering IPO Price. No interest will be paid or will accrue on any cash paid or payable in lieu of any fractional OP Unit or REIT Share.

Fractional Interest. No fractional OP Units or REIT Shares shall be issued pursuant to this Agreement or the other Formation Transaction Documentation. All fractional OP Units that a Nominee Contributor would otherwise be entitled to receive as a result of the Formation Transactions shall be aggregated, and the Nominee such Contributor shall receive the number of whole OP Units resulting from such aggregation and, in lieu of any fractional OP Unit resulting from such aggregation, an amount in cash determined by multiplying that fraction of an OP Unit to which the Nominee Contributor would otherwise have been entitled, by the Offering Price. All fractional REIT Shares that a Nominee Contributor would otherwise be entitled to receive as a result of the Formation Transactions shall be aggregated, and the Nominee such Contributor shall receive the number of whole REIT Shares resulting from such aggregation and, in lieu of any fractional REIT Share resulting from such aggregation, an amount in cash determined by multiplying that fraction of a REIT Share to which the Nominee such Contributor would otherwise have been entitled, by the Offering Price. No interest will be paid or will accrue on any cash paid or payable in lieu of any fractional OP Unit or REIT Share.

Fractional Interest. No fractional OP Units or REIT Shares shall be issued pursuant to this Agreement or the other Formation Transaction DocumentationAgreement. All fractional OP Units that a Nominee Contributor would otherwise be entitled to receive as a result of the contribution and the other Formation Transactions shall be aggregated, and the Nominee each Contributor shall receive the number of whole OP Units resulting from such aggregation and, in lieu of any fractional OP Unit resulting from such aggregation, an amount in cash determined by multiplying that fraction of an OP Unit to which the Nominee such Contributor would otherwise have been entitled, by the Offering IPO Price. All fractional REIT Shares that a Nominee Contributor would otherwise be entitled to receive as a result of the contribution and the other Formation Transactions shall be aggregated, and the Nominee each Contributor shall receive the number of whole REIT Shares resulting from such aggregation and, in lieu of any fractional REIT Share resulting from such aggregation, an amount in cash determined by multiplying that fraction of a REIT Share Shares to which the Nominee such Contributor would otherwise have been entitled, by the Offering IPO Price. No interest will be paid or will accrue on any cash paid or payable in lieu of any fractional OP Unit or REIT Share.