Common use of Regular Distributions Clause in Contracts

Regular Distributions. (a) Except for distributions pursuant to Section 13.2 in connection with the dissolution and liquidation of the Partnership, and subject to the provisions of Sections 5.1(b), 5.3, 5.4, 5.5 and 12.2(c), the General Partner shall cause the Partnership to distribute, at such times as the General Partner shall determine, an amount of Available Cash, determined by the General Partner in its sole discretion to the Limited Partners and the General Partner, as of the applicable Partnership Record Date, in accordance with each such Partner’s respective Percentage Interest. This section 5.1(a) is not applicable to the Associate General Partner. Distributions to the Associate General Partner should be made exclusively pursuant to Section 5.1(b). In no event may any such Partner receive a distribution of Available Cash with respect to a Partnership Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to REIT Stock for which such a Partnership Unit has been exchanged.

Appears in 3 contracts

Samples: Exchange Rights Agreement (Lightstone Value Plus Real Estate Investment Trust Ii Inc), Exchange Rights Agreement (Lightstone Value Plus Real Estate Investment Trust Ii Inc), Exchange Rights Agreement (Lightstone Value Plus Real Estate Investment Trust Ii Inc)

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Regular Distributions. (a) Except for distributions pursuant to Section 13.2 in connection with the dissolution and liquidation of the Partnership, and subject to the provisions of Sections 5.1(b), 5.3, 5.4, 5.5 and 12.2(c), the General Partner shall cause the Partnership to distribute, at such times as the General Partner shall determine, an amount of Available Cash, determined by the General Partner in its sole discretion to the Limited Partners and the General Partner, as of the applicable Partnership Record Date, in accordance with each such Partner’s respective Percentage Interest. This section 5.1(a) is not applicable to the Associate General Special Limited Partner. Distributions to the Associate General Special Limited Partner should be made exclusively pursuant to Section 5.1(b). In no event may any such Partner receive a distribution of Available Cash with respect to a Partnership Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to REIT Stock for which such a Partnership Unit has been exchanged.

Appears in 3 contracts

Samples: Exchange Rights Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Exchange Rights Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Exchange Rights Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)

Regular Distributions. (a) Except for distributions pursuant to Section 13.2 in connection with the dissolution and liquidation of the Partnership, and subject to the provisions of Sections 5.1(b), 5.3, 5.4, 5.5 and 12.2(c), the General Partner shall cause the Partnership to distribute, at such times as the General Partner shall determine, an amount of Available Cash, determined by the General Partner in its sole discretion to the Limited Partners and the General Partner, as of the applicable Partnership Record Date, in accordance with each such Partner’s respective Percentage Interest. This section 5.1(a) is not applicable to the Associate General Partner. Distributions to the Associate General Partner should be made exclusively pursuant to Section 5.1(b). In no event may any such Partner receive a distribution of Available Cash with respect to a Partnership Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to REIT Stock for which such a Partnership Unit has been exchanged.

Appears in 3 contracts

Samples: Exchange Rights Agreement (American Realty Capital Trust, Inc.), Exchange Rights Agreement (American Realty Capital Trust, Inc.), Exchange Rights Agreement (American Realty Capital Trust, Inc.)

Regular Distributions. (a) Except for distributions pursuant to Section 13.2 in connection with the dissolution and liquidation of the Partnership, and subject to the provisions of Sections 5.1(b), 5.3, 5.4, 5.5 and 12.2(c), the General Partner shall cause the Partnership to distribute, at such times as the General Partner shall determine, an amount of Available Cash, determined by the General Partner in its sole discretion to the Limited Partners and the General Partner, as of the applicable Partnership Record Date, in accordance with each such Partner’s respective Percentage Interest. This section 5.1(a) is not applicable to the Associate Special General Partner. Distributions to the Associate Special General Partner should be made exclusively pursuant to Section 5.1(b). In no event may any such Partner receive a distribution of Available Cash with respect to a Partnership Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to REIT Stock for which such a Partnership Unit has been exchanged.

Appears in 2 contracts

Samples: Exchange Rights Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Exchange Rights Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)

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Regular Distributions. (a) Except for distributions pursuant to Section 13.2 in connection with the dissolution and liquidation of the Partnership, and subject to the provisions of Sections 5.1(b), 5.3, 5.4, 5.5 and 12.2(c), the General Partner shall cause the Partnership to distribute, at such times as the General Partner shall determine, an amount of Available Cash, determined by the General Partner in its sole discretion to the Limited Partners and the General PartnerPartners, as of the applicable Partnership Record Date, in accordance with each such Partner’s 's respective Percentage Interest. This section 5.1(a) is not applicable to the Associate General Partner. Distributions to the Associate General Partner should be made exclusively pursuant to Section 5.1(b). In ; provided, however, that in no event may any such a Partner receive a distribution of Available Cash with respect to a Partnership Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to REIT Stock for which such a Partnership Unit has been exchanged.

Appears in 1 contract

Samples: Exchange Rights Agreement (Orion Multifamily Investment Fund Inc)

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