Common use of DevCo OP Distribution and Internal Distribution Clause in Contracts

DevCo OP Distribution and Internal Distribution. Prior to the SpinCo Distribution, in accordance with the Plan of Restructuring, the Parties shall cause the following to occur: (a) DevCo shall, or shall cause its applicable Subsidiary to, cause SpinCo OP to, and SpinCo OP shall, declare and effectuate the DevCo OP Distribution in accordance with the relevant provisions of Section 4.1; (b) SpinCo and SpinCo OP GP shall, declare and effectuate the Internal Distribution in accordance with the relevant terms of Section 4.1; (c) The applicable member of the DevCo Group, acting in its capacity as the general partner of DevCo OP, shall consent to, and use reasonable efforts to cause, each of the SpinCo OP Record Holders who receives DevCo OP Units in the DevCo OP Distribution (other than SpinCo and SpinCo OP GP) and DevCo to be admitted as partners in DevCo OP, effective as of immediately following the Internal Distribution; and (d) In accordance with the Plan of Restructuring, SpinCo OP shall or shall cause its applicable Subsidiary to transfer all of the interests in AIMCO Royal Crest – Nashua, L.L.C. to DevCo OP immediately following the Internal Distribution for no consideration pursuant to the Nashua Transfer Agreement.