Exceptions to Exercise of Unit Redemption Right. Notwithstanding the provisions of Sections 8.6.A and 8.6.B, a holder of Class A Units shall not be entitled to exercise the Unit Redemption Right pursuant to Section 8.6.A if (but only as long as) the delivery of Shares to such holder on the Specified Redemption Date would be (i) prohibited under those portions of the Articles of Incorporation relating to restrictions on ownership and transfer of Shares or (ii) prohibited under applicable federal or state securities laws or regulations (in each case regardless of whether the General Partner would in fact assume and satisfy the Unit Redemption Right).
Appears in 4 contracts
Samples: Agreement of Limited Partnership (Host Hotels & Resorts L.P.), Limited Partnership Agreement (Host Hotels & Resorts L.P.), Agreement of Limited Partnership (Host Hotels & Resorts, Inc.)
