Common use of Classes of Partnership Units Clause in Contracts

Classes of Partnership Units. On the Effective Date, the Partnership shall have three classes of Partnership Units, entitled “Class A Units,” “Class B Units,” and “LTIP Units,” and such additional classes of Partnership Units as may be created by the General Partner pursuant to Sections 4.2.A and 4.2.B. Class A Units, Class B Units, or a class of Partnership Interests created pursuant to Sections 4.2.A or 4.2.B, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, however, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a corresponding series of Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period in which such Class B Unit was issued, without the requirement for any action by the General Partner, the Partnership or the Partner holding the Class B Unit. The issuance and terms of any LTIP Units shall be in accordance with Section 4.6.

Classes of Partnership Units. On the Effective Date, the Partnership shall have three authorized classes of Partnership Units, entitled “Class A Units,” “Class B Units,” and “LTIP Units,” and and, thereafter, such additional classes of Partnership Units as may be created by the General Partner pursuant to Sections Section 4.2.A and this Section 4.2.B. Class A Units, Class B Units, Units or a class of Partnership Interests created pursuant to Sections Section 4.2.A or this Section 4.2.B, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, however, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a corresponding series of Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period in which such Class B Unit was issued, without the requirement for any action by the General Partner, the Partnership or the Partner holding the Class B Unit. The issuance and terms of any LTIP Units shall be in accordance with Section 4.6.

Classes of Partnership Units. On From and after the Effective Datedate of the Agreement, the Partnership shall have three four classes of Partnership Units, Units entitled “Class A Units,” “Class B Units,” “Class RS LTIP Units” and “Class O LTIP Units,” and such additional classes of Partnership Units as may be created by the General Partner pursuant to Sections 4.2.A and 4.2.B. Section 4.2.A. Class A Units, Class B Units, Units or a class of Partnership Interests created pursuant to Sections 4.2.A or 4.2.BSection 4.2.A, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, however, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a corresponding series of Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period in which such Class B Unit was issued, without the requirement for any action by the General Partner, the Partnership or the Partner holding the Class B Unit. The issuance and terms of any the LTIP Units shall be in accordance with Section Sections 4.6, 4.7, 4.8 and 4.9.

Classes of Partnership Units. On the Effective Date, the The Partnership shall have three authorized classes of Partnership Units, entitled “Class A Units,” “Class B Units,” and “LTIP Units,” and and, thereafter, such additional classes of Partnership Units as may be created by the General Partner pursuant to Sections Section 4.2.A and this Section 4.2.B. Class A Units, Class B Units, Units or a class of Partnership Interests created pursuant to Sections Section 4.2.A or this Section 4.2.B, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, however, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a corresponding series of Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period in which such Class B Unit was issued, without the requirement for any action by the General Partner, the Partnership or the Partner holding the Class B Unit. The issuance and terms of any LTIP Units shall be in accordance with Section 4.6.

Classes of Partnership Units. On From and after the Effective Datedate of the Agreement, the Partnership shall have three classes of Partnership Units, Units entitled “Class A Units,” “Class B Units,” and “LTIP Units,” and such additional classes of Partnership Units as may be created by the General Partner pursuant to Sections 4.2.A and 4.2.B. Section 4.2.A. Class A Units, Class B Units, LTIP Units, or a class of Partnership Interests created pursuant to Sections 4.2.A or 4.2.BSection 4.2.A, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, however, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a corresponding series of Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period in which such Class B Unit was issued, without the requirement for any action by the General Partner, the Partnership or the Partner holding the Class B Unit. The issuance and terms of any the LTIP Units shall be in accordance with Section 4.6Sections 4.6 and 4.7.

Classes of Partnership Units. On the Effective Datedate hereof, the Partnership shall have three authorized classes of Partnership Units, entitled “Class A Units,” “Class B Units,” and “LTIP Units,” and and, thereafter, such additional classes of Partnership Units as may be created by the General Partner pursuant to Sections Section 4.2.A and this Section 4.2.B. Class A Units, Class B Units, Units or a class of Partnership Interests created pursuant to Sections Section 4.2.A or this Section 4.2.B, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, however, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a corresponding series of Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period in which such Class B Unit was issued, without the requirement for any action by the General Partner, the Partnership or the Partner holding the Class B Unit. The issuance and terms of any LTIP Units shall be in accordance with Section 4.6.

Classes of Partnership Units. On From and after the Effective Datedate of the Agreement, the Partnership shall have three classes of Partnership Units, Units entitled “Class A Units,” “Class B Units,” and “LTIP Units,” and such additional classes of Partnership Units as may be created by the General Partner pursuant to Sections Section 4.2.A and 4.2.B. (collectively, the “Units”). Class A Units, Class B Units, LTIP Units or a class of Partnership Interests created pursuant to Sections 4.2.A or 4.2.BSection 4.2.A, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, however, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a corresponding series of Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period in which such Class B Unit was issued, without the requirement for any action by the General Partner, the Partnership or the Partner holding the Class B Unit. The issuance and terms of any the LTIP Units shall be in accordance with Section 4.6Sections 4.6 and 4.7.

Classes of Partnership Units. On From and after the Effective Datedate of the Agreement, the Partnership shall have three classes of Partnership Units, Units entitled “Class A Units,” “Class B Units,” and “LTIP Units,” and such additional classes of Partnership Units as may be created by the General Partner pursuant to Sections 4.2.A and 4.2.B. Section 4.2.A. Class A Units, Class B Units, LTIP Units or a class of Partnership Interests created pursuant to Sections 4.2.A or 4.2.BSection 4.2.A, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, however, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a corresponding series of Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period in which such Class B Unit was issued, without the requirement for any action by the General Partner, the Partnership or the Partner holding the Class B Unit. The issuance and terms of any the LTIP Units shall be in accordance with Section 4.6Sections 4.6 and 4.7.