Common use of Grants of REIT Shares Clause in Contracts

Grants of REIT Shares. If grants of REIT Shares are made in connection with a Stock Incentive Plan, (1) Crescent Equities shall, as soon as practicable after such grant, contribute to the capital of the Partnership an amount equal to the price (if any) paid to Crescent Equities by the party receiving the grant of REIT Shares; (2) Crescent Equities shall, as of the date on which the grant of REIT Shares is made, be deemed to have contributed to the Partnership as Contributed Funds pursuant to Section 4.2.A(2) hereof an amount equal to the fair market value (computed using the "closing price" (as such term is defined in the definition of the term "Value" in Article I hereof) as of the date on which the grant of REIT Shares is made) of the REIT Shares delivered by Crescent Equities to such party; and (3) the General Partner's Partnership Interest shall remain unchanged, and the Partnership Interests of Crescent Equities and the other Limited Partners shall be adjusted as set forth in Section 4.2, based on the amount deemed to be contributed, determined pursuant to Section 4.6.A(2); provided that, for purposes of calculating the "Deemed Value of the Partnership" and the "Deemed Partnership Interest Value" under Section 4.2, the "Value" of a REIT Share shall be the "closing price" (as such term is defined in the definition of the term "Value" in Article I hereof) of a REIT Share as of the date on which the grant of REIT Shares is made.

Grants of REIT Shares. If grants of REIT Shares are made in connection with a Stock Incentive Plan, (1) Crescent Equities shall, as soon as practicable after such grant, contribute to the capital of the Partnership an amount equal to the price (if any) paid to Crescent Equities by the party receiving the grant of REIT Shares; (2) Crescent Equities shall, as of the date on which the grant of REIT Shares is made, be deemed to have contributed to the Partnership as Contributed Funds pursuant to Section 4.2.A(2) hereof an amount equal to the fair market value (computed using the "closing price" (as such term is defined in the definition of the term "Value" in Article I hereof) as of the date on which the grant of REIT Shares is made) of the REIT Shares delivered by Crescent Equities to such party; and (3) the General Partner's Partnership Interest shall remain unchanged, and the Partnership Interests of Crescent Equities and the other Limited Partners shall be - 23 - adjusted as set forth in Section 4.2, based on the amount deemed to be contributed, determined pursuant to Section 4.6.A(2); provided that, for purposes of calculating the "Deemed Value of the Partnership" and the "Deemed Partnership Interest Value" under Section 4.2, the "Value" of a REIT Share shall be the "closing price" (as such term is defined in the definition of the term "Value" in Article I hereof) of a REIT Share as of the date on which the grant of REIT Shares is made.

Grants of REIT Shares. If grants of REIT Shares are made in connection with a Stock Incentive Plan, (1) Crescent Equities shall, as soon as practicable after such grant, contribute to the capital of the Partnership an amount equal to the price (if any) paid to Crescent Equities by the party receiving the grant of REIT Shares; (2) Crescent Equities shall, as of the date on which the grant of REIT Shares is made, be deemed to have contributed to the Partnership as Contributed Funds pursuant to Section 4.2.A(2) hereof an amount equal to the fair market value (computed using the "“closing price" ” (as such term is defined in the definition of the term "“Value" ” in Article I hereof) as of the date on which the grant of REIT Shares is made) of the REIT Shares delivered by Crescent Equities to such party; and (3) the General Partner's ’s Partnership Interest shall remain unchanged, and the Partnership Interests of Crescent Equities and the other Limited Partners shall be adjusted as set forth in Section 4.2, based on the amount deemed to be contributed, determined pursuant to Section 4.6.A(2); provided that, for purposes of calculating the "“Deemed Value of the Partnership" ” and the "“Deemed Partnership Interest Value" ” under Section 4.2, the "“Value" ” of a REIT Share shall be the "“closing price" ” (as such term is defined in the definition of the term "Value" ” in Article I hereof) of a REIT Share as of the date on which the grant of REIT Shares is made.

Grants of REIT Shares. If grants of REIT Shares are made in connection with a Stock Incentive Plan, (1i) Crescent Equities Maxus shall, as soon as practicable after such grant, contribute to the capital of the Partnership an amount equal to the price (if any) paid to Crescent Equities Maxus by the party receiving the grant of REIT Shares; (2ii) Crescent Equities Maxus shall, as of the date on which the grant of REIT Shares is made, be deemed to have contributed to the Partnership as Contributed Funds pursuant to Section 4.2.A(23.2.A(ii) hereof an amount equal to the fair market value (computed using the "closing price" (as such term is defined in the definition of the term "Value" in Article I hereof") as of the date on which the grant of REIT Shares is made) of the REIT Shares delivered by Crescent Equities Maxus to such party; and (3iii) the General Partner's Partnership Interest shall remain unchanged, and the Partnership Interests of Crescent Equities Maxus and the other Limited Partners shall be adjusted as set forth in Section 4.23.2, based on the amount deemed to be contributed, determined pursuant to Section 4.6.A(23.6.A(ii); provided that, for purposes of calculating the "Deemed Value of the Partnership" and the "Deemed Partnership Interest Value" under Section 4.23.2, the "Value" of a REIT Share shall be the "closing price" (as such term is defined in the definition of the term "Value" in Article I hereof") of a REIT Share as of the date on which the grant of REIT Shares is made.