Common use of Delivery of Election Notice; Cancellation of Conversion Units Clause in Contracts

Delivery of Election Notice; Cancellation of Conversion Units. If a Class D Limited Partner delivers a properly completed and executed Election Notice before the close of business on the Conversion Class E-2 Notice Date electing to retain all of his Conversion Class E-2 Common Units, then all of his Conversion Class D Common Units shall be cancelled automatically and he shall retain all of his Conversion Class E-2 Common Units as of the close of business on such date. If a Class D Limited Partner either fails to deliver a properly completed and executed Election Notice before the close of business on the Conversion Class E-2 Notice Date, or delivers a properly completed and executed Election Notice before the close of business on such date electing to retain all of his Conversion Class D Common Units, then all of his Conversion Class E-2 Common Units shall be cancelled automatically and he shall retain all of his Conversion Class D Common Units as of the close of business on such date. In all cases, the Book-Up Target with respect to a Conversion Class E-2 Common Unit may not be satisfied sooner than 30 days following the issuance of such Unit.