Common use of Profits Interest Units Clause in Contracts

Profits Interest Units. As soon as possible after execution of this Agreement, the Company will request that the Committee cause Education Realty Limited Partner, LLC, a Delaware limited liability company controlled by the Company (the "Profits Interest LLC"), to grant to You Units in Profits Interest LLC that will result in Your receiving with respect to such Units in Profits Interest LLC current distributions that are equivalent to those distributions that would be received by a holder of 20,000 Common Partnership Units in Education Realty Operating Partnership, LP, a Delaware limited partnership (the "UPREIT"), pursuant to the terms and conditions of the operating agreement of the Profits Interest LLC, as such agreement may be amended, restated and supplemented from time to time (the "Profits Interest LLC Agreement"). A condition to Your receipt of such interest in the Profits Interest LLC shall be the execution by You of the Profits Interest LLC Agreement.

Profits Interest Units. As soon as possible after execution of this Agreement, the Company will request that the Committee cause Education Realty Limited Partner, LLC, a Delaware limited liability company controlled by the Company (the "Profits Interest LLC"), to grant to You Units in Profits Interest LLC that will result in Your receiving with respect to such Units in Profits Interest LLC current distributions that are equivalent to those distributions that would be received by a holder of 20,000 30,000 Common Partnership Units in Education Realty Operating Partnership, LP, a Delaware limited partnership (the "UPREIT"), pursuant to the terms and conditions of the operating agreement of the Profits Interest LLC, as such agreement may be amended, restated and supplemented from time to time (the "Profits Interest LLC Agreement"). A condition to Your receipt of such interest in the Profits Interest LLC shall be the execution by You of the Profits Interest LLC Agreement.

Profits Interest Units. As soon as possible after execution of this Agreement, the Company will request that the Committee cause Education Realty Limited Partner, LLC, a Delaware limited liability company controlled by the Company (the "“Profits Interest LLC"”), to grant to You Units in Profits Interest LLC that will result in Your receiving with respect to such Units in Profits Interest LLC current distributions that are equivalent to those distributions that would be received by a holder of 20,000 Common Partnership Units in Education Realty Operating Partnership, LP, a Delaware limited partnership (the "“UPREIT"’), pursuant to the terms and conditions of the operating agreement of the Profits Interest LLC, as such agreement may be amended, restated and supplemented from time to time (the "“Profits Interest LLC Agreement"”). A condition to Your receipt of such interest in the Profits Interest LLC shall be the execution by You of the Profits Interest LLC Agreement.

Profits Interest Units. As soon as possible after execution of this Agreement, the Company will request that the Committee cause Education Realty Limited Partner, Partner LLC, a Delaware limited liability company controlled by the Company (the "Profits Interest LLC"), to grant to You Units in Profits Interest LLC that will result in Your your receiving with respect to such Units in Profits Interest LLC current distributions that are equivalent to those distributions that would be received by a holder of 20,000 30,000 Common Partnership Units in Education Realty Operating Partnership, LP, a Delaware limited partnership (the "UPREIT"), pursuant to the terms and conditions of the operating agreement of the Profits Interest LLC, as such agreement may be amended, restated and supplemented from time to time (the "Profits Interest LLC Agreement"). A condition to Your receipt of such interest in the Profits Interest LLC shall be the execution by You of the Profits Interest LLC Agreement.