Common use of Forced Conversion Clause in Contracts

Forced Conversion. The Partnership, at any time at the election of the General Partner, may cause any number of Vested LTIP Units, the Book-Up Target of which is zero, held by a holder of LTIP Units to be converted (a “LTIP Unit Forced Conversion”) into an equal number of Common Units, giving effect to all adjustments (if any) made pursuant to Section 1.7. In order to exercise its right to cause an LTIP Unit Forced Conversion, the Partnership shall deliver a notice (a “LTIP Unit Forced Conversion Notice”) in the form attached as Exhibit E to this Agreement to the applicable holder not less than 10 nor more than 60 days prior to the LTIP Unit Conversion Date specified in such LTIP Unit Forced Conversion Notice. A Forced LTIP Unit Conversion Notice shall be provided in the manner provided in Section 15.1 of this Agreement.

Appears in 2 contracts

Samples: Original Agreement (Easterly Government Properties, Inc.), Original Agreement (Easterly Government Properties, Inc.)

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Forced Conversion. The Partnership, at any time at the election of the General Partner, may cause any number of Vested LTIP Units, Units the Book-Up Target of which is zero, zero held by a holder of LTIP Units to be converted (a “LTIP Unit Forced Conversion”) into an equal number of Common Units, giving effect to all adjustments (if any) made pursuant to Section 1.7. In order to exercise its right to cause an LTIP Unit Forced Conversion, the Partnership shall deliver a notice (a “LTIP Unit Forced Conversion Notice”) in the form attached as Exhibit E V to this Agreement to the applicable holder not less than 10 nor more than 60 days prior to a date (the LTIP Unit Forced Conversion Date Date”) specified in such LTIP Unit Forced Conversion Notice. A Forced LTIP Unit Conversion Notice shall be provided in the manner provided in Section 15.1 13.1 of this Agreement.

Appears in 2 contracts

Samples: Essex Portfolio Lp, Essex Portfolio Lp

Forced Conversion. The Partnership, at any time at the election of the General Partner, may cause any number of Vested LTIP Units, Units the Book-Up Target of which is zero, zero held by a holder of LTIP Units to be converted (a “LTIP Unit Forced Conversion”) into an equal number of Common Units, giving effect to all adjustments (if any) made pursuant to Section 1.7. In order to exercise its right to cause an LTIP Unit Forced Conversion, the Partnership shall deliver a notice (a “LTIP Unit Forced Conversion Notice”) in the form attached as Exhibit E F to this the Agreement to the applicable holder not less than 10 nor more than 60 days prior to the LTIP Unit Conversion Date specified in such LTIP Unit Forced Conversion Notice. A Forced LTIP Unit Conversion Notice shall be provided in the manner provided in Section 15.1 13.01 of this the Agreement.

Appears in 1 contract

Samples: Third Amended and Restated Agreement (Behringer Harvard Reit I Inc)

Forced Conversion. The Partnership, at any time at the election of the General Partner, may cause any number of Vested LTIP Units, Units the Book-Up Target of which is zero, zero held by a holder of LTIP Units to be converted (a “LTIP Unit Forced Conversion”) into an equal number of Common Units, Units (after giving effect to all any adjustments (if any) made pursuant to Section 1.71.9). In order to exercise its right to cause an LTIP Unit Forced Conversion, the Partnership shall deliver a notice (a “LTIP Unit Forced Conversion Notice”) in the form attached as Exhibit E to this Agreement Schedule K-2 hereto to the applicable holder not less than 10 nor more than 60 days prior to the LTIP Unit Conversion Date specified in such LTIP Unit Forced Conversion Notice. A Forced LTIP Unit Conversion Notice shall be provided in the manner provided in Section 15.1 of this the Partnership Agreement.

Appears in 1 contract

Samples: Prologis, L.P.

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Forced Conversion. The Partnership, at any time at the election of the General Partner, may cause any number of Vested LTIP Units, Units the Book-Up Target of which is zero, zero held by a holder of LTIP Units to be converted (a "LTIP Unit Forced Conversion") into an equal number of Common Units, giving effect to all adjustments (if any) made pursuant to Section 1.75. In order to exercise its right to cause an LTIP Unit Forced Conversion, the Partnership shall deliver a notice (a "LTIP Unit Forced Conversion Notice") in the form attached as Exhibit E D to this Agreement the Amendment to the applicable holder not less than 10 nor more than 60 days prior to the LTIP Unit Conversion Date specified in such LTIP Unit Forced Conversion Notice. A Forced LTIP Unit Conversion Notice shall be provided in the manner provided in Section 15.1 13.1 of this the Agreement.

Appears in 1 contract

Samples: Partnership Agreement (Macerich Co)

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