Required Distributions. Subject to Section 7.4, except as set forth in Article 6, (i) all cash dividends and other cash distributions received by the Company with respect to the Parent OP Units contributed by a Member; (ii) all dividends and distributions of securities issued by any Person other than Parent OP received by the Company with respect to the Parent OP Units contributed by a Member; and (iii) all dividends and distributions of securities issued by the Parent OP that are not Parent OP Units (as such term is defined in the Contribution Agreement), in each case, shall be promptly, and in any event within two Business Days of receipt of such dividend or distribution, distributed to the Member that contributed such Parent OP Units as if such Member continued to directly own such Parent OP Units. For the avoidance of doubt, any Parent OP Units shall be received by the Company in compliance with Section 5.1(d).
Appears in 6 contracts
Samples: Tax Matters Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), The Contribution Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), The Contribution Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)
