Exceptions to Redemption Right Sample Clauses
The "Exceptions to Redemption Right" clause defines specific circumstances under which a party's right to redeem shares or securities is limited or excluded. In practice, this clause may list certain events, conditions, or types of securities that are not eligible for redemption, such as regulatory restrictions, insolvency events, or particular classes of shares. Its core function is to clarify the boundaries of the redemption right, preventing misunderstandings and ensuring that both parties are aware of situations where redemption is not permitted.
Exceptions to Redemption Right. Notwithstanding the provisions of Section 8.6(a), unless the General Partner elects for payment of the Redemption Amount by the Partnership to be the Cash Amount, a Partner shall not be entitled to exercise the Redemption Right if the delivery of REIT Stock to such Partner on the Specified Redemption Date would (i) be prohibited under the Articles of Incorporation or the bylaws of the General Partner, (ii) adversely affect the ability of the General Partner to continue to qualify as a REIT or would subject the General Partner to any additional taxes under Sections 857 or 4981 of the Code, (iii) constitute or be likely to constitute a violation of any applicable federal or state securities laws or regulations, or (iv) be prohibited under Section 11.6(f) of this Agreement (in each case regardless of whether the General Partner would in fact assume and satisfy the Redemption Right).
Exceptions to Redemption Right. Notwithstanding the provisions of Section 8.6(a), unless the General Partner elects for payment of the Redemption Amount by the Partnership to be the Cash Amount, a Partner shall not be entitled to exercise the Redemption Right if the delivery of REIT Stock to such Partner on the Specified Redemption Date would (i) be prohibited under the Articles of Incorporation or the bylaws of the General Partner, (ii) adversely affect the ability of the General Partner to continue to qualify as a REIT or subject the General Partner to any additional taxes under Sections 857 or 4981 of the Code,
Exceptions to Redemption Right. Notwithstanding the provisions of Section 8.5(a), a Partner shall not be entitled to receive REIT Stock instead of cash upon exercise of the Redemption Right if the delivery of REIT Stock to such Partner on the Specified Redemption Date would (i) be prohibited under the Articles of Incorporation or the bylaws of the Company, (ii) adversely affect the ability of the Company to continue to qualify as a REIT or would subject the Company to any additional taxes under Section 857 or Section 4981 of the Code, (iii) constitute or be likely to constitute a violation of any applicable federal or state securities laws or regulations, or (iv) be prohibited under Section 11.6(f) of this Agreement (in each case regardless of whether the Company would in fact assume and satisfy the Redemption Right).
Exceptions to Redemption Right. Notwithstanding the provisions of Section 8.6(a), unless the General Partner elects for payment of the Redemption Amount by the Partnership to be the Cash Amount, a Partner shall not be entitled to exercise the Redemption Right if the delivery of REIT Stock to such Partner on the Specified Redemption Date would (i) be prohibited under the Articles of Incorporation or the bylaws of Landwin REIT, (ii) adversely affect the ability of Landwin REIT to continue to qualify as a REIT or would subject Landwin REIT to any additional taxes under Section 857 or Section 4981 of the Code, (iii) constitute or be likely to constitute a violation of any applicable federal or state securities laws or regulations, (iv) be prohibited under Section 11.6(f) of this Agreement (in each case regardless of whether Landwin REIT would in fact assume and satisfy the Redemption Right); or (v) would cause Landwin REIT to directly or indirectly own (actually or constructively) 10% or more of the ownership interests in a tenant of Landwin REIT (or a subsidiary thereof) within the meaning of Section 856(d)(2)(B) of the Code and would cause Landwin REIT to fail to satisfy any of the gross income requirements of Section 856(c) of the Code.
Exceptions to Redemption Right. Notwithstanding the provisions of Section 8.6(a) or 8.6(b), unless the General Partner elects for payment of the Redemption Amount by the Partnership to be paid in cash, a Partner shall not be entitled to exercise the Series A Redemption Right or Series B Redemption Right if the delivery of REIT Stock to such Partner on the Specified Redemption Date would (i) be prohibited under the Articles of Incorporation or the bylaws of the General Partner, (ii) adversely affect the ability of the General Partner to continue to qualify as a REIT or would subject the General Partner to any additional taxes under Sections 857 or 4981 of the Code, (iii) constitute or be likely to constitute a violation of any applicable federal or state securities laws or regulations, or (iv) be prohibited under Section 11.6(f) (in each case regardless of whether the General Partner would in fact assume and satisfy the Series A Redemption Right).