Common use of Contribution of the Interests Clause in Contracts

Contribution of the Interests. Subject to the terms and conditions of this Agreement, on the date hereof (the "CLOSING DATE"), IPT shall assign and deliver to the Partnership as a Capital Contribution (as defined in the Second Amended and Restated Agreement of Limited Partnership of Insignia Properties, L.P. (the "PARTNERSHIP AGREEMENT")) all of its right, title and interest in and to the Interests in exchange for the aggregate number of GP Units indicated on Schedule A hereto, such GP Units to be allocated among the various Interests as indicated on Schedule A.