Amendment to Operating Partnership Agreement Sample Clauses
The "Amendment to Operating Partnership Agreement" clause establishes the procedures and requirements for making changes to the existing operating partnership agreement. Typically, this clause outlines who has the authority to propose amendments, the process for approval—such as requiring a majority or unanimous consent of partners—and any limitations on what can be amended. For example, it may specify that certain fundamental provisions require a higher threshold of approval or that amendments must be documented in writing. The core function of this clause is to provide a clear and orderly mechanism for updating the agreement as circumstances change, thereby ensuring flexibility while protecting the interests of all partners.
Amendment to Operating Partnership Agreement. The limited partnership agreement of the Operating Partnership shall have been amended to authorize the general partner of the Operating Partnership to cause the Operating Partnership, without the approval of any other partners of the Operating Partnership, to issue preferred partnership interests with economic attributes substantially identical to those of the Class X Preferred Shares, and the general partner of the Operating Partnership shall have caused such preferred partnership interests to have been issued to the Company.
Amendment to Operating Partnership Agreement. The amendment to the OP Agreement providing for the issuance of the Series D Preferred OP Units by the Operating Partnership as described in Section 1(a)(xiii) hereof shall be in full force and effect. The Transaction Entities will furnish the Representative with such conformed copies of such opinions, certificates, letters and documents as the Representative reasonably requests. The Representative may in its sole discretion waive on behalf of the Underwriters compliance with any conditions to the obligations of the Underwriters hereunder, whether in respect of an Optional Closing Date or otherwise.
Amendment to Operating Partnership Agreement. The Company will duly authorize, execute and deliver the Fifth Amended and Restated Agreement of Limited Partnership of the Operating Partnership.
Amendment to Operating Partnership Agreement. The Company shall have duly authorized, executed and delivered Amendment No. 1 to the Operating Partnership Agreement.
Amendment to Operating Partnership Agreement. The First Amended and Restated Partnership Agreement of the Operating Partnership, as amended, shall have been amended further to create preferred partnership interests with economic attributes substantially identical to those of the Series B Preferred Shares.
Amendment to Operating Partnership Agreement. Upon substitution of the Bank for the Investing Partnership as a limited partner in the Operating Partnership pursuant to the Bank Agreement and this Consent, Assignment and Agreement, this Consent, Assignment and Agreement shall constitute an amendment to the partnership agreement of the Operating Partnership, and the Bank shall not be liable for the obligations of any predecessor which has assigned the Purchased Partnership Interest to make any contributions to the Operating Partnership.
Amendment to Operating Partnership Agreement. The Company and Operating Partnership shall use their best efforts to amend the Agreement of Limited Partnership in order to effect the transactions contemplated hereby.
Amendment to Operating Partnership Agreement. Concurrent with the Closing, the Operating Partnership shall amend the Operating Partnership Agreement as necessary to authorize, and the Operating Partnership shall issue, preferred partnership interests with economic attributes substantially identical to those of each of the Series C Preferred Stock, and the amendment to the Operating Partnership Agreement shall be in substantially a form agreed to between the Company and the Investor, and the managing member of the Operating Partnership shall cause the Series C Preferred Units to be issued to the Company or a direct or indirect wholly owned subsidiary thereof.
Amendment to Operating Partnership Agreement. Concurrent with the Initial Closing, the Operating Partnership shall issue preferred partnership interests with economic attributes substantially identical to those of the Series B Preferred Stock substantially in the form attached hereto as Exhibit D (the "Preferred Units"), and the general partner of the Operating Partnership shall cause such Preferred Units to be issued to the Company or a direct or indirect wholly owned subsidiary thereof.