Conversion of Membership Interests. As of the Effective Time, all Membership Interests shall be automatically converted, on a one-for-one basis, into partnership interests in the Fund and the Membership Interests shall no longer be outstanding and shall automatically be cancelled and cease to exist.
Appears in 36 contracts
Samples: Merger Agreement (CNL Income Fund Vii LTD), Merger Agreement (CNL Income Fund Xvii LTD), Merger Agreement (U S Restaurant Properties Inc)
