Operating Partnership definition
Examples of Operating Partnership in a sentence
After the Termination Date, the Advisor shall not be entitled to compensation for further services hereunder except it shall be entitled to receive from the Trust and the Operating Partnership within 30 days after the effective date of such termination all unpaid reimbursements of expenses and all earned but unpaid fees payable to the Advisor prior to termination of this Agreement.
The Trust and the Operating Partnership hereby appoint the Advisor to serve as their investment adviser on the terms and conditions set forth in this Agreement and to undertake the other duties and responsibilities hereinafter set forth, and the Advisor hereby accepts such appointment.
If the Advisor elects to receive any portion of its Management Fee in Class E Common Shares or Class E Operating Partnership Units, the Advisor may elect to have the Trust or the Operating Partnership repurchase or redeem, as applicable, such Common Shares and/or Operating Partnership Units from the Advisor at a later date at a repurchase price per Common Share equal to the then NAV per Common Share of such class.
The Trust and the Operating Partnership acknowledges and agrees that, in addition to any damages, the Advisor may be entitled to equitable relief for any violation of this Section 20 by the Trust, including, without limitation, injunctive relief.
THIS ADVISORY AGREEMENT (this “Agreement”), dated as of [__], 2026 (the “Effective Date”), is by and among HPS Net Lease Income REIT, a Maryland statutory trust (the “Trust”), HNET Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”), and ElmTree Funds, LLC, a Delaware limited liability company and an indirect subsidiary of BlackRock (as defined below) (the “Advisor”).