General Partner Participation. The GP Parties agree that all business activities of the GP Parties, including activities pertaining to the acquisition, development or ownership of any office, retail, multifamily, industrial, or other Real Property, Real Estate Related Securities or other property shall be conducted through the Operating Partnership or one or more Subsidiary Partnerships; provided, however, that the General Partner is allowed to make a direct acquisition, but if and only if, such acquisition is made in connection with the issuance of Additional Securities, which direct acquisition and issuance have been approved and determined to be in the best interests of the General Partner and the Operating Partnership by a majority of the Independent Directors.
Appears in 8 contracts
Samples: Limited Partnership Agreement (Global Income Trust, Inc.), Limited Partnership Agreement (Global Growth Trust, Inc.), Limited Partnership Agreement (CNL Properties Trust, Inc.)
General Partner Participation. The GP Parties agree that all business activities of the GP Parties, including activities pertaining to the acquisition, development or ownership of any office, retail, multifamily, multifamily industrial, or other Real Property, Real Estate Related Securities or other property shall be conducted through the Operating Partnership or one or more Subsidiary Partnerships; provided, however, that the General Partner is allowed to make a direct acquisition, but if and only if, such acquisition is made in connection with the issuance of Additional Securities, which direct acquisition and issuance have been approved and determined to be in the best interests of the General Partner and the Operating Partnership by a majority of the Independent Directors.
Appears in 3 contracts
Samples: Limited Partnership Agreement (CNL Macquarie Global Growth Trust, Inc.), Limited Partnership Agreement (CNL Macquarie Global Income Trust, Inc.), Limited Partnership Agreement (CNL Macquarie Global Income Trust, Inc.)
