Common use of Acquisition Consideration Clause in Contracts

Acquisition Consideration. (a) The consideration (the "ACQUISITION CONSIDERATION") to be received by each Grantor in respect of the contribution of the Grantor's Interests to the Operating Partnership shall be an amount equal to $100.00 (one hundred dollars). The Acquisition Consideration shall be paid in the form of a combination of (i) cash and/or (ii) units of limited partnership interest in the Operating Partnership ("OP UNITS"), in the percentages and allocations set forth on Schedule B attached hereto. To the extent a percentage of the Acquisition Consideration includes one or more OP Units, as set forth on Schedule B, the number of OP Units the Grantor shall be entitled to receive upon the exercise of the Option with respect to such percentage shall equal the quotient of (A) the amount of Acquisition Consideration to be paid in OP Units, divided by (B) the midpoint of the proposed per share offering price for the shares of Common Stock as set forth in the final preliminary prospectus included in the Company's Registration Statement on Form S-11 prepared and filed with the Securities and Exchange Commission in connection with the IPO.

Appears in 2 contracts

Samples: Option Agreement (Tower Realty Trust Inc), Option Agreement (Tower Realty Trust Inc)

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Acquisition Consideration. (a) The consideration (the "ACQUISITION CONSIDERATION") to be received by each the Grantor in respect of the contribution of the Grantor's Interests to the Operating Partnership shall be an amount 2 equal to $100.00 (one hundred dollars)74,074. The Acquisition Consideration shall be paid in the form of a combination of (i) cash and/or (ii) units of limited partnership interest in the Operating Partnership ("OP UNITS"), in the percentages and allocations set forth on Schedule B attached hereto. To the extent a percentage of the Acquisition Consideration includes one or more OP Units, as set forth on Schedule B, the number of OP Units the Grantor shall be entitled to receive upon the exercise of the Option with respect to such percentage shall equal the quotient of (A) the amount of Acquisition Consideration to be paid in OP Units, divided by (B) the midpoint of the proposed per share offering price for the shares of Common Stock as set forth in the final preliminary prospectus included in the Company's Registration Statement on Form S-11 prepared and filed with the Securities and Exchange Commission in connection with the IPO.

Appears in 1 contract

Samples: Omnibus Option Agreement (Tower Realty Trust Inc)

Acquisition Consideration. (a) The consideration (the "ACQUISITION CONSIDERATION") to be received by each Grantor in respect of the contribution of the Grantor's Interests to the Operating Partnership shall be an amount equal to $100.00 200.00 (one two hundred dollars). The Acquisition Consideration shall be paid in the form of a combination of (i) cash and/or (ii) units of limited partnership interest in the Operating Partnership ("OP UNITS"), in the percentages and allocations set forth on Schedule B attached hereto. To the extent a percentage of the Acquisition Consideration includes one or more OP Units, as set forth on Schedule B, the number of OP Units the Grantor shall be entitled to receive upon the exercise of the Option with respect to such percentage shall equal the quotient of (A) the amount of Acquisition Consideration to be paid in OP Units, divided by (B) the midpoint of the proposed per share offering price for the shares of Common Stock as set forth in the final preliminary prospectus included in the Company's Registration Statement on Form S-11 prepared and filed with the Securities and Exchange Commission in connection with the IPO.

Appears in 1 contract

Samples: Option Agreement (Tower Realty Trust Inc)

Acquisition Consideration. (a) The consideration (the "ACQUISITION CONSIDERATION") to be received by each Grantor in respect of the contribution of the Grantor's Interests to the Operating Partnership shall be an amount equal to $100.00 300.00 (one three hundred dollars). The Acquisition Consideration shall be paid in the form of a combination of (i) cash and/or (ii) units of limited partnership interest in the Operating Partnership ("OP UNITS"), in the percentages and allocations set forth on Schedule B attached hereto. To the extent a percentage of the Acquisition Consideration includes one or more OP Units, as set forth on Schedule B, the number of OP Units the Grantor shall be entitled to receive upon the exercise of the Option with respect to such percentage shall equal the quotient of (A) the amount of Acquisition Consideration to be paid in OP Units, divided by (B) the midpoint of the proposed per share offering price for the shares of Common Stock as set forth in the final preliminary prospectus included in the Company's Registration Statement on Form S-11 prepared and filed with the Securities and Exchange Commission in connection with the IPO.

Appears in 1 contract

Samples: Option Agreement (Tower Realty Trust Inc)

Acquisition Consideration. (a) The consideration (the "ACQUISITION CONSIDERATION") to be received by each the Grantor in respect of the contribution of the Grantor's Interests to the Operating Partnership shall be an aggregate amount equal to $100.00 (one hundred dollars)111,111. The Acquisition Consideration shall be paid in the form of a combination of (i) cash and/or (ii) units of limited partnership interest in the Operating Partnership ("OP UNITS"), in the percentages and allocations set forth on Schedule B attached hereto. To the extent a percentage of the Acquisition Consideration includes one or more OP Units, as set forth on Schedule B, the number of OP Units the Grantor shall be entitled to receive upon the exercise of the Option with respect to such percentage shall equal the quotient of (A) the amount of Acquisition Consideration to be paid in OP Units, divided by (B) the midpoint of the proposed per share offering price for the shares of Common Stock as set forth in the final preliminary prospectus included in the Company's Registration Statement on Form S-11 prepared and filed with the Securities and Exchange Commission in connection with the IPO.

Appears in 1 contract

Samples: Option Agreement (Tower Realty Trust Inc)

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Acquisition Consideration. (a) The consideration (the "ACQUISITION CONSIDERATION") to be received by each Grantor in respect of the contribution of the Grantor's Interests to the Operating Partnership shall be an amount 2 equal to $100.00 300.00 (one three hundred dollars). The Acquisition Consideration shall be paid in the form of a combination of (i) cash and/or (ii) units of limited partnership interest in the Operating Partnership ("OP UNITS"), in the percentages and allocations set forth on Schedule B attached hereto. To the extent a percentage of the Acquisition Consideration includes one or more OP Units, as set forth on Schedule B, the number of OP Units the Grantor shall be entitled to receive upon the exercise of the Option with respect to such percentage shall equal the quotient of (A) the amount of Acquisition Consideration to be paid in OP Units, divided by (B) the midpoint of the proposed per share offering price for the shares of Common Stock as set forth in the final preliminary prospectus included in the Company's Registration Statement on Form S-11 prepared and filed with the Securities and Exchange Commission in connection with the IPO.

Appears in 1 contract

Samples: Option Agreement (Tower Realty Trust Inc)

Acquisition Consideration. (a) The consideration (the "ACQUISITION CONSIDERATION") to be received by each Grantor in respect of the contribution of the Grantor's Interests to the Operating Partnership shall be an amount equal to $100.00 (one hundred dollars)125,000. The Acquisition Consideration shall be paid in the form of a combination of (i) cash and/or (ii) units of limited partnership interest in the Operating Partnership ("OP UNITS"), in the percentages and allocations set forth on Schedule B attached hereto. To the extent a percentage of the Acquisition Consideration includes one or more OP Units, as set forth on Schedule B, the number of OP Units the each Grantor shall be entitled to receive upon the exercise of the Option with respect to such percentage shall equal the quotient of (A) the amount of Acquisition Consideration to be paid in OP Units, divided by (B) the midpoint of the proposed per share offering price for the shares of Common Stock as set forth in the final preliminary prospectus included in the Company's Registration Statement on Form S-11 prepared and filed with the Securities and Exchange Commission in connection with the IPO.

Appears in 1 contract

Samples: Option Agreement (Tower Realty Trust Inc)

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