Right to Exchange Units. On the terms and subject to the conditions of this Agreement, each Holder shall have the right (the "Exchange Right") to tender to LTC (or its successor or assignee, as provided in Section 7.3 hereof) outstanding Units and to require LTC (or such successor or assignee) to purchase such Units by delivering to the Holder tendering such Unit(s) (the "Exchanging Holder") either REIT Shares or cash, as hereinafter provided.
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Samples: Exchange Rights Agreement (LTC Properties Inc), Exchange Rights Agreement (LTC Properties Inc), Exchange Rights Agreement (LTC Properties Inc)
Right to Exchange Units. On the terms and subject to the conditions of this Agreement, each Holder shall have the right (the "Exchange Right") to tender to LTC (or its successor or assignee, as provided in Section 7.3 hereof) outstanding Units and to require LTC (or such successor or assignee) to purchase such Units by delivering to the Holder tendering such Unit(s) (the "Exchanging Holder") either REIT Shares or cash, as hereinafter provided.
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