Common use of Certain Deemed Contributions of Proceeds of Issuance of REIT Shares Clause in Contracts

Certain Deemed Contributions of Proceeds of Issuance of REIT Shares. Subject to the permitted use of cash specified in Section 8.5(d), in connection with any and all issuances of REIT Shares, the General Partner shall make directly or indirectly and through the Original Limited Partner Capital Contributions to the Partnership of the proceeds from such issuances, provided, that if the proceeds actually received and contributed by the General Partner are less than the gross proceeds of such issuance as a result of any underwriter’s discount or other fees or expenses paid or incurred in connection with such issuance, then the General Partner (or the General Partner together with the Original Limited Partner, as applicable) shall be deemed to have made Capital Contributions to the Partnership in the aggregate amount of the gross proceeds of such issuance and the Partnership shall be deemed simultaneously to have paid such offering expenses in accordance with Section 6.5 and in connection with the required issuance of additional Partnership Units for such Capital Contributions pursuant to Section 4.2(a), and any such expenses shall be allocable solely to the class of Partnership Units issued to the General Partner (or the Original Limited Partner) at such time.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Cole Office & Industrial REIT (CCIT III), Inc.), Limited Partnership Agreement (Cole Office & Industrial REIT (CCIT III), Inc.)

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Certain Deemed Contributions of Proceeds of Issuance of REIT Shares. Subject to the permitted use of cash specified in Section 8.5(d), in In connection with any and all issuances of REIT Shares, the General Partner shall make directly or indirectly directly and through the Original Limited Partner Capital Contributions to the Partnership of the proceeds from such issuancestherefrom, provided, that if the proceeds actually received and contributed by the General Partner are less than the gross proceeds of such issuance as a result of any underwriter’s discount or other fees or expenses paid or incurred in connection with such issuance, then the General Partner (or the General Partner together with the Original Limited Partner, as applicable) shall be deemed to have made Capital Contributions to the Partnership in the aggregate amount of the gross proceeds of such issuance and the Partnership shall be deemed simultaneously to have paid such offering expenses in accordance with Section 6.5 hereof and in connection with the required issuance of additional Partnership Units for such Capital Contributions pursuant to Section 4.2(a), and ) hereof. Upon any such expenses Capital Contribution by the General Partner, the General Partner’s Capital Account shall be allocable solely increased by the actual amount of its Capital Contribution pursuant to the class of Partnership Units issued to the General Partner (or the Original Limited Partner) at such timeSection 4.4 hereof.

Appears in 1 contract

Samples: Limited Partnership Agreement (GLADSTONE LAND Corp)

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Certain Deemed Contributions of Proceeds of Issuance of REIT Shares. Subject to the Except as otherwise permitted use of cash specified in Section 8.5(d)hereunder, in connection with any and all issuances of REIT Shares, the General Partner shall make directly or indirectly and through the Original Limited Partner Capital Contributions to the Partnership of the proceeds from such issuancestherefrom, provided, provided that if the proceeds actually received and contributed by the General Partner are less than the gross proceeds of such issuance as a result of any underwriter’s discount or other fees or expenses paid or incurred in connection with such issuance, then the General Partner (or the General Partner together with the Original Limited Partner, as applicable) shall be deemed to have made Capital Contributions to the Partnership in the aggregate amount of the gross proceeds of such issuance and the Partnership shall be deemed simultaneously to have paid such offering expenses in accordance with Section 6.5 hereof and in connection with the required issuance of additional Partnership Units to the General Partner for such Capital Contributions pursuant to Section 4.2(a)4.3(a) hereof, and any such expenses shall be allocable solely to the class Class of Partnership Units issued to the General Partner (or the Original Limited Partner) at such time.

Appears in 1 contract

Samples: Limited Partnership Agreement (Hines Global Income Trust, Inc.)

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