Common use of Classes of Partnership Units Clause in Contracts

Classes of Partnership Units. From and after the Effective Date, subject to Section 4.03(a) below, the Partnership shall have two classes of Partnership Units, entitled “OP Units” and “LTIP Units.” Subject to Section 4.09, either OP Units or LTIP Units, at the election of the General Partner, in its sole and absolute discretion, may be issued in exchange for any Capital Contributions by such Partners and/or the provision of services by such Partners; provided that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be an OP Unit.

Classes of Partnership Units. From and after the Effective Datedate of this Agreement, subject to Section 4.03(a) below, the Partnership shall have two classes one class of Partnership Units, entitled “"OP Units” and “LTIP Units.” Subject to Section 4.09, either " OP Units or LTIP Units, at the election of the REIT General Partner, in its sole and absolute discretion, may be issued to Partners in exchange for any Capital Contributions by such Partners and/or the provision of services by such Partners; provided provided, that any Partnership Unit that is not specifically designated by the REIT General Partner as being of a particular class shall be deemed to be an OP Unit.

Classes of Partnership Units. From and after the Effective Date, subject to Section 4.03(a) 4.3.A below, the Partnership shall have two classes of Partnership Units, entitled “"OP Units” " and “"LTIP Units.” " Subject to Section 4.094.9, either OP Units or LTIP Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for any Capital Contributions by such Partners and/or the provision of services by such Partners; provided that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be an OP Unit.

Classes of Partnership Units. From and after the Effective Date, subject Subject to Section 4.03(a) 4.3.A below, the Partnership shall have two classes of Partnership Units, entitled “OP Units” and “LTIP Units.” Subject to Section 4.094.9, either OP Units or LTIP Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners or existing Partners in exchange for any Capital Contributions by such Partners and/or the provision of services by such Partners; provided that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be an OP Unit.

Classes of Partnership Units. From and after the Effective Date, subject to Section 4.03(a) 4.3.A below, the Partnership shall have two classes of Partnership Units, entitled “OP Units” and “LTIP Units.” Subject to Section 4.094.9, either OP Units or LTIP Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for any Capital Contributions by such Partners and/or the provision of services by such Partners; provided that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be an OP Unit.

Classes of Partnership Units. From and after the Effective Date, subject Subject to Section 4.03(a) below, the Partnership shall have two classes of Partnership Units, entitled “OP Units” and “LTIP Units.” Subject to Section 4.09, either OP Units or LTIP Units, at the election of the General Partner, in its sole and absolute discretion, may be issued in exchange for any Capital Contributions by such Partners and/or the provision of services by such Partners; provided that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be an OP Unit.

Classes of Partnership Units. From and after the Effective Datedate of this Agreement, subject to Section 4.03(a‎4.03(a) below, the Partnership shall have two classes of Partnership Units, entitled “"OP Units” " and “"LTIP Units.” " Subject to Section 4.09, ‎4.06 either OP Units or LTIP Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for any Capital Contributions by such Partners and/or the provision of services by such Partners; provided provided, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be an OP Unit.