Examples of Operating Partnership in a sentence
In the event the REIT or the Operating Partnership commences a liquidation of its investments during any calendar year, the REIT and the Operating Partnership will pay the Advisor the Management Fee from the proceeds of the liquidation.
As soon as reasonably practicable after receiving notice described in the preceding sentence, the CROP Operating Partnership shall (i) provide such Protected Partner with a detailed calculation of the amount due under this Section 3 with respect to such indemnifiable event or breach, and (ii) provide such Protected Partner with such evidence or verification as such Protected Partner may reasonably require to confirm the calculation of such amount.
The CROP Operating Partnership may, at any time, repay or refinance all or any portion of a CROP Operating Partnership Liability that is guaranteed by the Contributor, provided that the CROP Operating Partnership provides the Protected Partners the opportunity to guarantee other CROP Operating Partnership Liabilities pursuant to this Section 2.
If the Advisor elects to receive any portion of its Management Fee in shares of REIT common stock or units of the Operating Partnership, the Advisor may elect to have the REIT or the Operating Partnership repurchase such securities from the Advisor at a later date.
Notwithstanding anything to the contrary in this Section 2, the CROP Operating Partnership shall only be obligated to work together with each Protected Partner to permit the Contributor to guarantee CROP Operating Partnership Liabilities for only so much of such indebtedness as is not already subject to guarantees.