Common use of ISSUANCE OF OP UNITS Clause in Contracts

ISSUANCE OF OP UNITS. At the Closing and subject to the terms and conditions contained in this Agreement, the Operating Partnership shall, in exchange for the Contributed Interests contributed by the Contributor, issue to the Contributor a number of OP Units equal to the Contributor’s Formation Transaction Value, as the same may be adjusted in accordance with Section 1.04 below, divided by the IPO Price. No fractional OP Units shall be issued pursuant to this Agreement. If aggregating all OP Units that the Contributor would otherwise be entitled to receive as a result of any of the Formation Transactions would require the issuance of a fractional OP Unit, the number of OP Units which the Contributor shall be entitled to receive shall be rounded to the nearest whole number.

ISSUANCE OF OP UNITS. At the Closing and subject to the terms and conditions contained in this Agreement, the Operating Partnership shall, in exchange for the Contributed Interests contributed by the each Contributor, issue to the such Contributor a number of OP Units equal to the such Contributor’s Formation Transaction Value, as the same may be adjusted in accordance with Section 1.04 below, divided by the IPO Price. No fractional OP Units shall be issued pursuant to this Agreement. If aggregating all OP Units that the a Contributor would otherwise be entitled to receive as a result of any of the Formation Transactions would require the issuance of a fractional OP Unit, the number of OP Units which the such Contributor shall be entitled to receive shall be rounded to the nearest whole number.

ISSUANCE OF OP UNITS. At the Closing and subject to the terms and conditions contained in this Agreement, the Operating Partnership shall, in exchange for the Contributed Interests contributed by the each Contributor, issue to the such Contributor a number of OP Units equal to the such Contributor’s Formation Transaction Value, as the same may be adjusted in accordance with Section 1.04 below, divided by the IPO PriceFactor. No fractional OP Units shall be issued pursuant to this Agreement. If aggregating all OP Units that the a Contributor would otherwise be entitled to receive as a result of any of the Formation Transactions would require the issuance of a fractional OP Unit, the number of OP Units which the such Contributor shall be entitled to receive shall be rounded to the nearest whole number.”

ISSUANCE OF OP UNITS. At the Closing and subject to the terms and conditions contained in this Agreement, the Operating Partnership shall, in exchange for the Contributed Interests contributed by the ContributorContributors, issue to each of the Contributor Contributors a number of OP Units equal to the Contributor’s Formation Transaction Value, as the same may be adjusted in accordance with Section 1.04 below, divided by the IPO Price. No fractional OP Units shall be issued pursuant to this Agreement. If aggregating all OP Units that the any Contributor would otherwise be entitled to receive as a result of any of the Formation Transactions would require the issuance of a fractional OP Unit, the number of OP Units which the such Contributor shall be entitled to receive shall be rounded to the nearest whole number.

ISSUANCE OF OP UNITS. At the Closing and subject to the terms and conditions contained in this Agreement, the Operating Partnership shall, in exchange for the Contributed Interests contributed contribution by the ContributorContributor of the Net Proceeds, issue to the Contributor a number of OP Units equal to the Contributor’s Formation Transaction Value, as the same may be adjusted in accordance with Section 1.04 below, Net Proceeds divided by the IPO Price. No fractional OP Units shall be issued pursuant to this Agreement. If aggregating all the number of OP Units that the Contributor would otherwise be is entitled to receive as a result on account of any its contribution of the Formation Transactions Net Proceeds would require the issuance of a fractional OP Unit, the number of OP Units which the Contributor shall be entitled to receive shall be rounded to the nearest whole number.