Impact of Conversion for Purposes of Subparagraph 1(c)(iii) of Exhibit B. For purposes of making future allocations under subparagraph 1(c)(iii) of Exhibit B, the Special Limited Partner’s Capital Account balance shall be reduced, as of the date of conversion, by an amount equal to the product of (i) the number of OP Units issued in the conversion multiplied by (ii) the product of (A) the Value of one share of Common Stock on the date of conversion multiplied by (B) the Exchange Factor.
Appears in 9 contracts
Samples: Securities Purchase Agreement (American Realty Capital Hospitality Trust, Inc.), Limited Partnership Agreement (American Realty Capital Hospitality Trust, Inc.), Limited Partnership Agreement (American Realty Capital New York City REIT, Inc.)
Impact of Conversion for Purposes of Subparagraph 1(c)(iii) of Exhibit B. For purposes of making future allocations under subparagraph 1(c)(iii) of Exhibit B, the Special Limited Partner’s Capital Account balance shall be reduced, as of the date of conversion, by an amount equal to the product of (i) the number of OP Units issued in the conversion multiplied by (ii) the product of (A) the Value amount described in clause (ii)(A) of one share of Common Stock on the date of conversion third sentence in Section 8.7(a)(i) multiplied by (B) the Exchange Factor.
Appears in 1 contract
Samples: Limited Partnership Agreement (American Realty Capital Global Trust II, Inc.)
