Redemption Rights for Units Sample Clauses
The Redemption Rights for Units clause defines the conditions under which holders of units in an entity, such as a partnership or limited liability company, can require the entity to repurchase their units. Typically, this clause outlines the timing, process, and pricing mechanism for redemption, and may specify any limitations or restrictions, such as minimum holding periods or caps on the number of units redeemable at a given time. Its core practical function is to provide liquidity and an exit mechanism for unit holders, while also protecting the entity from sudden or excessive redemptions that could disrupt operations.
POPULAR SAMPLE Copied 1 times
Redemption Rights for Units. Each Unit shall be redeemable at the option of the holder, in accordance with, but subject to the restrictions contained in, the Partnership Agreement; provided, however, that the Contributor may not deliver a Notice of Redemption to the Acquirer prior to the first anniversary of the Closing Date. Upon the Acquirer's receipt of the Contributor's Notice of Redemption, the Specified Redemption Date for such Notice shall be twenty (20) calendar days thereafter.
Redemption Rights for Units. Each Unit shall be redeemable, at the option of the holder, in accordance with, but subject to the restrictions contained in, the Partnership Agreement; provided, however, that such redemption option may not be exercised prior to the first anniversary of the Closing Date.
Redemption Rights for Units. 2 1.4 Tax Consequences to Contributor...............................................................2
Redemption Rights for Units. Each Unit shall be redeemable, at the option of Contributor, in accordance with, but subject to the restrictions contained in, Section 7.5 of the Partnership Agreement; provided, however, that Contributor's redemption option may not be exercised prior to (a) the date that is 30 days after the termination of any agreement to merge, consolidate or otherwise acquire control of Bristol Hotels & Resorts, entered into by Bass PLC or any of its affiliates (the "BHR Merger") or (b) if any such agreement is not reached, March 28, 2000. Furthermore, notwithstanding the provisions set forth in Section 7.5 of the Partnership Agreement, if Contributor elects to redeem its Units, the General Partner may, in its sole and absolute discretion, pay the Redemption Amount (as defined in the Partnership Agreement) either (i) through payment of the REIT Shares Amount (as defined in the Partnership Agreement), or (ii) by causing FLLP to distribute to Contributor the Contributed Assets, subject, in either case, to all of the other conditions set forth in Section 7.5.
Redemption Rights for Units. Each Unit shall be redeemable, at the option of Contributor, in accordance with, but subject to the restrictions contained in, Section 7.5 of the Partnership Agreement; provided, however, that Contributor's redemption option may not be exercised prior to January 1, 2001. Furthermore, notwithstanding the provisions set forth in Section 7.5 of the Partnership Agreement, if Contributor elects to redeem its Units, the General Partner may, in its sole and absolute discretion, pay the Redemption Amount (as defined in the Partnership Agreement) either (i) through payment of the REIT Shares Amount (as defined in the Partnership Agreement), or (ii) by causing FLLP to distribute to Contributor the Contributed Assets, subject, in either case, to all of the other conditions set forth in Section 7.5.