Common use of Issuances of Shares and Other Securities Clause in Contracts

Issuances of Shares and Other Securities. The General Partner Entity shall not grant, award or issue any additional Shares (other than Shares issued pursuant to Section 8.6 hereof or pursuant to a dividend or distribution (including any share split) of Shares to all of its shareholders that results in an adjustment to the Conversion Factor pursuant to clause (i), (ii) or (iii) of the definition thereof), other equity securities of the General Partner Entity, New Securities or Convertible Funding Debt unless (i) the General Partner shall cause, pursuant to Section 4.2.A hereof, the Partnership to issue to the General Partner, Partnership Interests or rights, options, warrants or convertible or exchangeable securities of the Partnership having designations, preferences and other rights, all such that the economic interests are substantially the same as those of such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, and (ii) in exchange therefor, the General Partner Entity transfers or otherwise causes to be transferred to the Partnership, as an additional Capital Contribution, the proceeds from the grant, award, or issuance of such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, or from the exercise of rights contained in such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be (or, in the case of an acquisition described in Section 7.4.F in which all or a portion of the cash required to consummate such acquisition is to be obtained by the General Partner Entity through an issuance of Shares described in Section 4.2, the General Partner Entity complies with such Section 7.4.F). Without limiting the foregoing, the General Partner Entity is expressly authorized to issue additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, for less than fair market value, and the General Partner is expressly authorized, pursuant to Section 4.2.A hereof, to cause the Partnership to issue to the General Partner corresponding Partnership Interests, (for example, and not by way of limitation, the issuance of Shares and corresponding Partnership Units pursuant to a share purchase plan providing for purchases of Shares, either by employees or shareholders, at a discount from fair market value or pursuant to employee share options that have an exercise price that is less than the fair market value of the Shares, either at the time of issuance or at the time of exercise) as long as (a) the General Partner concludes in good faith that such issuance is in the interests of the General Partner and the Partnership and (b) the General Partner Entity transfers all proceeds from any such issuance or exercise to the Partnership as an additional Capital Contribution.

Appears in 6 contracts

Samples: Limited Partnership Agreement, Limited Partnership Agreement (American Homes 4 Rent), Limited Partnership Agreement (RLJ Lodging Trust)

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Issuances of Shares and Other Securities. The General Partner Entity shall not grant, award or issue any additional Shares (other than Shares issued pursuant to Section 8.6 hereof or pursuant to a dividend or distribution (including any share stock split) of Shares to all of its shareholders stockholders that results in an adjustment to the Conversion Factor pursuant to clause (i), (ii) or (iii) of the definition thereof), other equity securities of the General Partner Entity, New Securities or Convertible Funding Debt unless (i) the General Partner shall cause, pursuant to Section 4.2.A hereof4.2.A, the Partnership to issue to the General PartnerPartner Entity, Partnership Interests or rights, options, warrants or convertible or exchangeable securities of the Partnership having designations, preferences and other rights, all such that the economic interests are substantially the same as those of such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, and (ii) in exchange therefor, the General Partner Entity transfers or otherwise causes to be transferred to the Partnership, as an additional Capital Contribution, the proceeds (if any) from the grant, award, or issuance of such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, or from the exercise of rights contained in such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be (or, in the case of an acquisition described in Section 7.4.F in which all or a portion of the cash required to consummate such acquisition is to be obtained by the General Partner Entity through an issuance of Shares described in Section 4.2, the General Partner Entity complies with such Section 7.4.F). Without limiting the foregoing, the General Partner Entity is expressly authorized to issue additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, for less than fair market value, and the General Partner is expressly authorized, pursuant to Section 4.2.A hereof4.2.A, to cause the Partnership to issue to the General Partner corresponding Partnership Interests, (for example, and not by way of limitation, the issuance of Shares and corresponding Partnership Units pursuant to a share stock purchase plan providing for purchases of Shares, either by employees or shareholdersstockholders, at a discount from fair market value or pursuant to employee share stock options that have an exercise price that is less than the fair market value of the Shares, either at the time of issuance or at the time of exercise) as long as (a) the General Partner concludes in good faith that such issuance is in the interests of the General Partner and the Partnership and (b) the General Partner Entity transfers all proceeds from any such issuance or exercise to the Partnership as an additional Capital Contribution.

Appears in 1 contract

Samples: Limited Partnership Agreement (Jernigan Capital, Inc.)

Issuances of Shares and Other Securities. The General Partner Entity Managing Member shall not grant, award or issue any additional Shares (other than Shares issued pursuant to Section 8.6 hereof or pursuant to a dividend or distribution (including any share Share split) of Shares to all of its shareholders stockholders that results in an adjustment to the Conversion Factor pursuant to clause (i), (ii) or (iii) of the definition thereof), other equity securities of the General Partner EntityManaging Member, New Securities or Convertible Funding Debt unless (i) the General Partner Managing Member shall cause, pursuant to Section 4.2.A hereof4.2.A, the Partnership Company to issue to the General PartnerManaging Member, Partnership Interests or rights, options, warrants or convertible or exchangeable securities of the Partnership Company having designations, preferences and other rights, all such that the economic interests are substantially the same as those of such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, and (ii) in exchange therefor, the General Partner Entity Managing Member transfers or otherwise causes to be transferred to the PartnershipCompany, as an additional Capital Contribution, the proceeds (if any) from the grant, award, or issuance of such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, or from the exercise of rights contained in such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be (or, in the case of an acquisition described in Section 7.4.F in which all or a portion of the cash required to consummate such acquisition is to be obtained by the General Partner Entity Managing Member through an issuance of Shares described in Section 4.2, the General Partner Entity Managing Member complies with such Section 7.4.F). Without limiting the foregoing, the General Partner Entity Managing Member is expressly authorized to issue additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, for less than fair market value, and the General Partner Managing Member is expressly authorized, pursuant to Section 4.2.A hereof4.2.A, to cause the Partnership Company to issue to the General Partner Managing Member corresponding Partnership Interests, (for example, and not by way of limitation, the issuance of Shares and corresponding Partnership Units pursuant to a share stock purchase plan providing for purchases of Shares, either by employees or shareholdersstockholders, at a discount from fair market value or pursuant to employee share Stock options that have an exercise price that is less than the fair market value of the Shares, either at the time of issuance or at the time of exercise) as long as (a) the General Partner Managing Member concludes in good faith that such issuance is in the interests of the General Partner Managing Member and the Partnership Company and (b) the General Partner Entity Managing Member transfers all proceeds from any such issuance or exercise to the Partnership Company as an additional Capital Contribution.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Jernigan Capital, Inc.)

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Issuances of Shares and Other Securities. The General Partner Entity Managing Member shall not grant, award or issue any additional Shares (other than Shares issued pursuant to Section 8.6 hereof or pursuant to a dividend or distribution (including any share Share split) of Shares to all of its shareholders stockholders that results in an adjustment to the Conversion Factor pursuant to clause (i), (ii) or (iii) of the definition thereof), other equity securities of the General Partner EntityManaging Member, New Securities or Convertible Funding Debt unless (i) the General Partner Managing Member shall cause, pursuant to Section 4.2.A hereof4.2.A, the Partnership Company to issue to the General PartnerManaging Member, Partnership Interests or rights, options, warrants or convertible or exchangeable securities of the Partnership Company having designations, preferences and other rights, all such that the economic interests are substantially the same as those of such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, and (ii) in exchange therefor, the General Partner Entity Managing Member transfers or otherwise causes to be transferred to the PartnershipCompany, as an additional Capital Contribution, the proceeds (if any) from the grant, award, or issuance of such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, or from the exercise of rights contained in such additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be (or, in the case of an acquisition described in Section 7.4.F in which all or a portion of the cash required to consummate such acquisition is to be obtained by the General Partner Entity Managing Member through an issuance of Shares described in Section 4.2, the General Partner Entity Managing Member complies with such Section 7.4.F). Without limiting the foregoing, the General Partner Entity Managing Member is expressly authorized to issue additional Shares, other equity securities, New Securities or Convertible Funding Debt, as the case may be, for less than fair market value, and the General Partner Managing Member is expressly authorized, pursuant to Section 4.2.A hereof4.2.A, to cause the Partnership Company to issue to the General Partner Managing Member corresponding Partnership Interests, (for example, and not by way of limitation, the issuance of Shares and corresponding Partnership Units pursuant to a share stock purchase plan providing for purchases of Shares, either by employees or shareholdersstockholders, at a discount from fair market value or pursuant to employee share stock options that have an exercise price that is less than the fair market value of the Shares, either at the time of issuance or at the time of exercise) as long as (a) the General Partner Managing Member concludes in good faith that such issuance is in the interests of the General Partner Managing Member and the Partnership Company and (b) the General Partner Entity Managing Member transfers all proceeds from any such issuance or exercise to the Partnership Company as an additional Capital Contribution.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Nexpoint Diversified Real Estate Trust)

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