Restrictions on Ownership and Transfer. The Series A Preferred Units shall be owned and held solely by the General Partner.
Restrictions on Ownership and Transfer. (i) Except as provided in Paragraph 9.K, prior to the Ownership Limitation Termination Date, no Person shall Beneficially Own or Constructively Own any Shares to the extent such ownership would exceed the Ownership Limit.
Restrictions on Ownership and Transfer. The restrictions on Transfer set forth in Sections 11.1.B and 11.3.A of the Agreement shall not apply to Transfers of Class VIII High Performance Partnership Units. Prior to the Class VIII High Performance Valuation Date, the Class VIII High Performance Partnership Units shall be owned and held solely by SMP 2008, L.L.C., a Delaware limited liability company (the “SMP”). On or after the Class VIII High Performance Valuation Date, the Class VIII High Performance Partnership Units may be Transferred (i) by the SMP to (a) any Person who is a member (a “Member”) of the SMP immediately prior to such transfer, (b) a Family Member of a Member, (c) a Controlled Entity of a Member, (c) any Person with respect to whom the Member constitutes a Controlled Entity, (d) upon the death of a Member, by will or by the laws of descent and distribution to any Qualified Transferee, and (ii) by any other Person to (a) a Family Member of a such Person, (b) a Controlled Entity of such Person, (c) any other Person with respect to whom such Person constitutes a Controlled Entity, (d) upon the death of such Person, by will or by the laws of descent and distribution to any Qualified Transferee.
Restrictions on Ownership and Transfer. The restrictions on Transfer set forth in Article IX of the Agreement shall not apply to Transfers of Class II Out-Performance Partnership Shares. Prior to the Class II Out-Performance Valuation Date, the Class II Out-Performance Partnership Shares shall be owned and held solely by the Initial Holder. On or after the later of the Class II Out-Performance Valuation Date and the twenty four (24) month period from the date the Class II Out-Performance Partnership Shares are issued the Class II Out-Performance Partnership Shares may be Transferred (i) by the Initial Holder to (a) any Person who is a member (a "Member") of the Initial Holder immediately prior to such transfer, (b) a Family Member of a Member, (c) a Family Controlled Entity of a Member, (d) any Person with respect to whom the Member constitutes a Family Controlled Entity, (e) upon the death of a Member, by will or by the laws of descent and distribution to any Family Member or Family Controlled Entity, and (ii) by any other Person to (a) a Family Member of a such Person, (b) a Family Controlled Entity of such Person, (c) any other Person with respect to whom such Person constitutes a Family Controlled Entity, (d) upon the death of such Person, by will or by the laws of descent and distribution to any Family Member or Family Controlled Entity; provided, however, that, until May 31, 2005, the Class II Out-Performance Partnership Shares may not be Transferred by the Initial Holder without the approval of the managers of the Initial Holder.
Restrictions on Ownership and Transfer. The restrictions on Transfer set forth in Sections 11.1.B and 11.3.A of the Agreement shall not apply to Transfers of Class I High Performance Partnership Units. Prior to the Class I High Performance Valuation Date, the Class I High Performance Partnership Units shall be owned and held solely by SMP I, L.L.C., a Delaware limited liability company ("SMP"), Richxxx X. Xxxxxxx, X. Lxxxxx Xxxtxx, Xxxxxx X. Rxxxxx xxx John X. Xxxxx. Xx or after the Class I High Performance Valuation Date, the Class I High Performance Partnership Units may be Transferred (i) by SMP to (a) any Person who is a member (a "Member") of SMP immediately prior to such transfer, (b) a Family Member of a Member, (c) a Controlled Entity of a Member, (c) any Person with respect to whom the Member constitutes a Controlled Entity, (d) upon the death of a Member, by will or by the laws of descent and distribution to any Qualified Transferee, and (ii) by any other Person to (a) a Family Member of a such Person, (b) a Controlled Entity of such Person, (c) any other Person with respect to whom such Person constitutes a Controlled Entity, (d) upon the death of such Person, by will or by the laws of descent and distribution to any Qualified Transferee,
Restrictions on Ownership and Transfer. The Series E Company Preferred Units shall be owned and held solely by CLNS.
Restrictions on Ownership and Transfer. The Depositary Shares evidenced by this Depositary Receipt are subject to restrictions on ownership for the purpose of the Company’s maintenance of its status as a real estate investment trust under the Internal Revenue Code of 1986, as amended. Except as otherwise provided pursuant to the Charter of the Company, (1) no Person shall Beneficially Own or Constructively Own Depositary Shares representing Class N Preferred Stock in excess of (a) 100% of the number of then outstanding shares of Class N Preferred Stock or (b) if fewer, the maximum number of shares of Class N Preferred Stock that, if then converted by the holder into Common Stock, would make such holder or any other Person the owner of a number of shares of Common Stock that would not exceed (x) the Ownership Limit applicable to shares of Common Stock as set forth in Article IV(B)(4) of the Charter or (y) if any Excepted Holder Limit has been created for such holder or other Person with respect to shares of Common Stock pursuant to Article IV(B)(4) of the Charter, such Excepted Holder Limit and (2) no Person, other than an Excepted Holder who is not considered an individual for purposes of Section 542(a)(2) of the Code, shall Beneficially Own or Constructively Own Depositary Shares representing shares of Class N Preferred Stock such that such Person would Beneficially Own or Constructively Own Capital Stock in excess of the Aggregate Stock Ownership Limit. Any Person who attempts to Beneficially Own or Constructively Own Depositary Shares representing shares of Class N Preferred Stock in excess of the above limitations must immediately notify the Company. All capitalized terms in this legend have the meanings defined in the Charter of the Company, a copy of which, including the restrictions on transfer, will be sent to any holder on request and without charge. Transfers in violation of the restrictions described above shall be void ab initio. Notwithstanding the foregoing, if the restrictions on ownership and transfer are violated, the Class N Preferred Stock represented by the Depositary Shares evidenced by this Depositary Receipt will be designated and treated as shares of Class N Excess Preferred Stock which will be held in trust by the Company. The foregoing summary does not purport to be complete and is subject to and qualified in its entirety by reference to the Charter, a copy of which, including the restrictions on transfer, will be sent without charge to each holder who so requests. Such...
Restrictions on Ownership and Transfer. The Series E Preferred Stock shall be subject to the restrictions on ownership and transfer set forth in Article VII of the Charter.
Restrictions on Ownership and Transfer. The Series C Preferred Units shall be owned and held solely by the Company.
Restrictions on Ownership and Transfer. The beneficial ownership and transfer of the Series 1999 Junior Participating Preferred Stock shall in all respects be subject to the applicable provisions of Article IV of the Certificate of Incorporation.
