Common use of Grant of Redemption Rights Clause in Contracts

Grant of Redemption Rights. Beginning one year from the date of this Agreement, each Class A Limited Partner shall have the right, but not the obligation (hereinafter such right sometimes referred to as the "Redemption Rights"), to require the Partnership to redeem on the Redemption Date, all or any portion of the Units held by such Limited Partner (as a Class A Limited Partner) at a redemption price equal to the Cash Purchase Price. The Redemption Rights of a Limited Partner may be exercised on one or more occasions by the Limited Partner. The Redemption Rights shall be exercised pursuant to a written notice (the "Redemption Exercise Notice") in the form set forth in Schedule 1 attached hereto. The Redemption Exercise Notice shall be given by the Partner who is exercising the Redemption Rights ("Exercising Partner") to the General Partner. A Limited Partner may not exercise the Redemption Rights as to fewer Partnership Units than the number of such Partnership Units that is equal to the lesser of (a) 1,000 Partnership Units or (b) all of the Units held by such Class A Limited Partner (as a Class A Limited Partner). Neither the Electing Partner nor any assignee of any Limited Partner shall have any right with respect to any Partnership Units so redeemed to receive any distributions from the Partnership made after the Redemption Date. The assignee of any Limited Partner may exercise the rights of such Limited Partner pursuant to this Section 2, and such Limited Partner shall be deemed to have assigned such rights to such assignee and shall be bound by the exercise of such rights by such Limited Partner's assignee. In connection with any exercise of such rights by such assignee on behalf of such Limited Partner, the Cash Purchase Price shall be paid by the Partnership directly to such assignee and not to such Limited Partner.

Grant of Redemption Rights. Beginning one year from the date of this Agreement, each (a) Each Class A Limited Partner shall have the right, but not the obligation (such rights hereinafter such right sometimes referred to as the "“Redemption Rights"”), to require the Partnership to redeem on the Redemption Date, all or any a portion of the Partnership Units held by such Limited Partner (as a Class A Limited Partner) at a redemption price equal to the Cash Purchase PricePartnership (or its designee) at any time or from time to time prior to the time the Partnership is dissolved, on the terms and subject to the conditions and restrictions contained in Exhibit D hereto. The Redemption Rights of a Limited Partner granted hereunder may be exercised on by any one or more occasions of such Limited Partners, on the terms and subject and to the conditions and restrictions contained in Exhibit D hereto, upon delivery to the General Partner of an Exercise Notice in the form of Schedule 1 attached to Exhibit D, which notice shall specify the Partnership Units to be redeemed by the such Limited Partner. The Redemption Rights shall be exercised pursuant to a written notice (Once delivered, the "Redemption Exercise Notice") in the form set forth in Schedule 1 attached hereto. The Redemption Exercise Notice shall be given irrevocable, subject to payment by the Partner who is exercising Partnership of the Purchase Price in respect of such Partnership Units in accordance with the terms hereof. (b) The terms and provisions applicable to the Redemption Rights shall be as set forth in attached Exhibit D. ("Exercising Partner"c) Any Partnership Units acquired by the General Partner in accordance with Exhibit D hereto pursuant to an exercise by any Class A Limited Partner of the Redemption Rights shall be deemed to be acquired by and reallocated or reissued to the General Partner. The General Partner shall amend Exhibit A hereto to reflect each such conversion and reallocation or reissuance of Partnership Units and each corresponding recalculation of the Partnership Units of the Partners. (d) No Class B Limited Partner may not exercise shall be entitled to the Redemption Rights as to fewer Partnership Units than unless and until the number Board of such Partnership Units that is equal to the lesser of (a) 1,000 Partnership Units or (b) all Trustees of the Units held by such General Partner agrees to reclassify the Class A B Limited Partner (as a Class A Limited Partner). Neither the Electing Partner nor any assignee of any Limited Partner shall have any right with respect to any Partnership Units so redeemed to receive any distributions from the Partnership made after the Redemption Date. The assignee of any Limited Partner may exercise the rights of such Limited Partner pursuant to this Section 2, and such Limited Partner shall be deemed to have assigned such rights to such assignee and shall be bound by the exercise of such rights by such Limited Partner's assignee. In connection with any exercise of such rights by such assignee on behalf of such Limited Partner, the Cash Purchase Price shall be paid by the Partnership directly to such assignee and not to such Limited Partner.

Grant of Redemption Rights. Beginning one year from the date of this Agreement, (a) The Partnership does hereby grant to each Limited Partner owning Class A Units and each such Limited Partner shall have does hereby accept the right, but not the obligation (hereinafter such right sometimes referred to as the "Redemption RightsRight"), to require the Partnership to redeem redeem, for cash, on the Specified Redemption Date, Date all or any portion of the Class A Units held by such Limited Partner (as a Class A Limited Partner) at a redemption price equal to the Cash Purchase PriceAmount. The Redemption Rights Right of a Limited Partner may be exercised on one or more occasions by the Limited Partner. The Redemption Rights Right shall be exercised pursuant to a written notice Notice of Redemption delivered to the Partnership (with a copy to the General Partner) by the Limited Partner (the "Redemption Exercise NoticeRedeeming Partner") in the form set forth in Schedule 1 attached hereto. The Redemption Exercise Notice shall be given by the Partner who is exercising the Redemption Rights ("Exercising Partner") to the General PartnerRight. A Limited Partner may not exercise the Redemption Rights Right as to fewer Partnership Class A Units than the number of such Partnership Units that is equal to the lesser of (a) 1,000 Partnership 100 Units or (b) all of the Class A Units held by such Class A Limited Partner (as a Class A Limited Partner). Neither the Electing Redeeming Partner nor any assignee of any Limited Partner shall have any right with respect to any Partnership Class A Units so redeemed to receive any distributions from the Partnership made after the Specified Redemption Date. The assignee of any Limited Partner may exercise the rights of such Limited Partner pursuant to this Section 215.1, and such Limited Partner shall be deemed to have assigned such rights to such assignee and shall be bound by the exercise of such rights by such Limited Partner's assignee. In connection with any exercise of such rights by such assignee on behalf of such Limited Partner, the Cash Purchase Price Amount shall be paid by the Partnership directly to such assignee and not to such Limited Partner. (b) The General Partner may, in connection with the issuance by the Partnership of additional Class A Units, impose restrictions on the exercise by the Limited Partners owning such Class A Units of the Redemption Right for such period of time as the General Partner may designate.

Grant of Redemption Rights. Beginning one year from the date of this Agreement, each (a) Each Class A Limited Partner shall have the right, but not the obligation (such rights hereinafter such right sometimes referred to as the "Redemption Rights"), to require the Partnership to redeem on the Redemption Date, all or any a portion of the Partnership Units held by such Limited Partner (as a Class A Limited Partner) at a redemption price equal to the Cash Purchase PricePartnership (or its designee) at any time or from time to time prior to the time the Partnership is dissolved, on the terms and subject to the conditions and restrictions contained in Exhibit D hereto. The Redemption Rights of a Limited Partner granted hereunder may be exercised on by any one or more occasions of such Limited Partners, on the terms and subject and to the conditions and restrictions contained in Exhibit D hereto, upon delivery to the General Partner of an Exercise Notice in the form of Schedule 1 attached to Exhibit D, which notice shall specify the Partnership Units to be redeemed by the such Limited Partner. The Redemption Rights shall be exercised pursuant to a written notice (Once delivered, the "Redemption Exercise Notice") in the form set forth in Schedule 1 attached hereto. The Redemption Exercise Notice shall be given irrevocable, subject to payment by the Partner who is exercising Partnership of the Purchase Price in respect of such Partnership Units in accordance with the terms hereof. (b) The terms and provisions applicable to the Redemption Rights shall be as set forth in attached Exhibit D. ("Exercising Partner"c) Any Partnership Units acquired by the General Partner in accordance with Exhibit D hereto pursuant to an exercise by any Class A Limited Partner of the Redemption Rights shall be deemed to be acquired by and reallocated or reissued to the General Partner. The General Partner shall amend Exhibit A hereto to reflect each such conversion and reallocation or reissuance of Partnership Units and each corresponding recalculation of the Partnership Units of the Partners. (d) No Class B Limited Partner may not exercise shall be entitled to the Redemption Rights as to fewer Partnership Units than unless and until the number Board of such Partnership Units that is equal to the lesser of (a) 1,000 Partnership Units or (b) all Trustees of the Units held by such General Partner agrees to reclassify the Class A B Limited Partner (as a Class A Limited Partner). Neither the Electing Partner nor any assignee of any Limited Partner shall have any right with respect to any Partnership Units so redeemed to receive any distributions from the Partnership made after the Redemption Date. The assignee of any Limited Partner may exercise the rights of such Limited Partner pursuant to this Section 2, and such Limited Partner shall be deemed to have assigned such rights to such assignee and shall be bound by the exercise of such rights by such Limited Partner's assignee. In connection with any exercise of such rights by such assignee on behalf of such Limited Partner, the Cash Purchase Price shall be paid by the Partnership directly to such assignee and not to such Limited Partner.

Grant of Redemption Rights. Beginning one year four years from the date of this Agreement, each Class A Limited Partner shall have the right, but not the obligation (hereinafter such right sometimes referred to as the "“Redemption Rights"”), to require the Partnership to redeem on the Redemption Date, all or any portion of the Units held by such Limited Partner (as a Class A Limited Partner) at a redemption price equal to the Cash Purchase Price. The Redemption Rights of a Limited Partner may be exercised on one or more occasions by the Limited Partner. The Redemption Rights shall be exercised pursuant to a written notice (the "“Redemption Exercise Notice"”) in the form set forth in Schedule 1 attached hereto. The Redemption Exercise Notice shall be given by the Partner who is exercising the Redemption Rights ("“Exercising Partner"”) to the General Partner. A Limited Partner may not exercise the Redemption Rights as to fewer Partnership Units than the number of such Partnership Units that is equal to the lesser of (a) 1,000 Partnership Units or (b) all of the Units held by such Class A Limited Partner (as a Class A Limited Partner). Neither the Electing Partner nor any assignee of any Limited Partner shall have any right with respect to any Partnership Units so redeemed to receive any distributions from the Partnership made after the Redemption Date. The assignee of any Limited Partner may exercise the rights of such Limited Partner pursuant to this Section 2, and such Limited Partner shall be deemed to have assigned such rights to such assignee and shall be bound by the exercise of such rights by such Limited Partner's ’s assignee. In connection with any exercise of such rights by such assignee on behalf of such Limited Partner, the Cash Purchase Price shall be paid by the Partnership directly to such assignee and not to such Limited Partner.