Common use of Consideration and Exchange of Series T Limited Units Clause in Contracts

Consideration and Exchange of Series T Limited Units. Subject to this Section, the Operating Partnership shall, in exchange for the Property, the Contributed Assets, the Assumed Liabilities and the Assumed Agreements, transfer to the Contributor consideration equal to the Contributor’s “Total Consideration” as indicated on Exhibit D. The transfer of the Series T Limited Units to the Contributor shall be evidenced by an amendment (the “Amendment”) to the OP Agreement as determined by the Operating Partnership. The parties shall take such additional actions and execute such additional documentation as may be required by such party’s operating agreement and the OP Agreement in order to effect the transactions contemplated hereby. 2.9

Appears in 1 contract

Samples: Contribution Agreement (Lodging Fund REIT III, Inc.)

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Consideration and Exchange of Series T Limited Units. Subject to this Section, the Operating Partnership shall, in exchange for the Property, the Contributed Assets, the Assumed Liabilities and the Assumed Agreements, transfer to the Contributor consideration equal to the Contributor’s “Total Consideration” as indicated on Exhibit D. The transfer of the Series T Limited Units to the Contributor shall be evidenced by an amendment (the “Amendment”) to the OP Agreement as determined by the Operating Partnership. The parties shall take such additional actions and execute such additional documentation as may be required by such party’s operating agreement and the OP Agreement in order to effect the transactions contemplated hereby. 2.97

Appears in 1 contract

Samples: Contribution Agreement (Lodging Fund REIT III, Inc.)

Consideration and Exchange of Series T Limited Units. Subject to terms of this Section, the Operating Partnership shall, in exchange for the PropertyMembership Interest of the Company, the Contributed Assets, the Assumed Liabilities issue Common Limited Units and the Assumed Agreements, transfer to the Contributor consideration Series T Limited Units in quantities equal to the Contributor’s “Total Consideration” as indicated on Exhibit D. The transfer of the Series T Limited Units to the Contributor shall be evidenced by an amendment (the “Amendment”) to the OP Agreement as determined agreed upon by the Operating PartnershipPartnership and the Contributor. The parties shall take such additional actions and execute such additional documentation as may be required by such party’s operating agreement and or as may be reasonably required by the OP Agreement in order to effect the transactions contemplated hereby. 2.92.6

Appears in 1 contract

Samples: Contribution Agreement (Lodging Fund REIT III, Inc.)

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Consideration and Exchange of Series T Limited Units. Subject to this Section, the Operating Partnership shall, in exchange for the Property, the Contributed Assets, the Assumed Liabilities and the Assumed Agreements, transfer to the Contributor consideration equal to the Contributor’s “Total Consideration” as indicated on Exhibit D. The transfer of the Series T Limited Units to the Contributor shall be evidenced by an amendment (the “Amendment”) to the OP Agreement as determined by the Operating PartnershipPartnership in accordance with Exhibit D and the other provisions of this Agreement. The parties shall take such additional actions and execute such additional documentation as may be required by such party’s operating agreement and the OP Agreement in order to effect the transactions contemplated hereby. 2.9.

Appears in 1 contract

Samples: Contribution Agreement (Lodging Fund REIT III, Inc.)

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