Common use of Limited Partners’ Interests Clause in Contracts

Limited Partners’ Interests. (i) In connection with the Merger and in accordance with the procedures set forth in Section 5(a)(iii) of this Agreement, each unit of limited partnership interest of CCP IV (each a “Unit”) outstanding immediately prior to the Effective Time and held by limited partners of CCP IV, except Units held by limited partners who have perfected their appraisal rights pursuant to Exhibit A hereto, shall be converted into the right to receive, at the election of the limited partner, either (x) $57.44 in cash (the “Cash Consideration”) or (y) a number of partnership common units of Aimco OP calculated by dividing $57.44 by the average closing price of Apartment Investment and Management Company common stock, as reported on the New York Stock Exchange, over the ten consecutive trading days ending on the second trading day immediately prior to the Effective Time (the “OP Unit Consideration” and, together with the Cash Consideration, the “Merger Consideration”).

Limited Partners’ Interests. (i) In connection with the Merger and in accordance with the procedures set forth in Section 5(a)(iii) of this Agreement, each unit of limited partnership interest of CCP IV AP XII (each a “Unit”) outstanding immediately prior to the Effective Time and held by limited partners of CCP IVAP XII, except Units held by limited partners who have perfected their appraisal rights pursuant to Exhibit A hereto, shall be converted into the right to receive, at the election of the limited partner, either (x) $57.44 483.14 in cash (the “Cash Consideration”) or (y) a number of partnership common units of Aimco OP calculated by dividing $57.44 483.14 by the average closing price of Apartment Investment and Management Company common stock, as reported on the New York Stock Exchange, over the ten consecutive trading days ending on the second trading day immediately prior to the Effective Time (the “OP Unit Consideration” and, together with the Cash Consideration, the “Merger Consideration”).

Limited Partners’ Interests. (i) In connection with the Merger and in accordance with the procedures set forth in Section 5(a)(iii) of this Agreement, each unit of limited partnership interest of CCP IV (each a “Unit”) outstanding immediately prior to the Effective Time and held by limited partners of CCP IV, except Units held by limited partners who have perfected their appraisal rights pursuant to Exhibit A hereto, shall be converted into the right to receive, at the election of the limited partner, either (x) $57.44 56.14 in cash (the “Cash Consideration”) or (y) a number of partnership common units of Aimco OP calculated by dividing $57.44 56.14 by the average closing price of Apartment Investment and Management Company common stock, as reported on the New York Stock Exchange, over the ten consecutive trading days ending on the second trading day immediately prior to the Effective Time (the “OP Unit Consideration” and, together with the Cash Consideration, the “Merger Consideration”).

Limited Partners’ Interests. (i) In connection with the Merger and in accordance with the procedures set forth in Section 5(a)(iii) of this Agreement, each Series A unit of limited partnership interest of CCP IV CCIP/2 (each a “Series A Unit”) outstanding immediately prior to the Effective Time and held by limited partners of CCP IVCCIP/2, except Series A Units held by limited partners who have perfected their appraisal rights pursuant to Exhibit A hereto, shall be converted into the right to receive, at the election of the limited partner, either (x) $57.44 8.45 in cash (the “Cash Consideration”) or (y) a number of partnership common units of Aimco OP calculated by dividing $57.44 8.45 by the average closing price of Apartment Investment and Management Company common stock, as reported on the New York Stock Exchange, over the ten consecutive trading days ending on the second trading day immediately prior to the Effective Time (the “OP Unit Consideration” and, together with the Cash Consideration, the “Merger Consideration”).

Limited Partners’ Interests. (i) In connection with the Merger and in accordance with the procedures set forth in Section 5(a)(iii) of this Agreement, each unit of limited partnership interest of CCP IV AP XII (each a “Unit”) outstanding immediately prior to the Effective Time and held by limited partners of CCP IVAP XII, except Units held by limited partners who have perfected their appraisal rights pursuant to Exhibit A hereto, shall be converted into the right to receive, at the election of the limited partner, either (x) $57.44 526.71 in cash (the “Cash Consideration”) or (y) a number of partnership common units of Aimco OP calculated by dividing $57.44 526.71 by the average closing price of Apartment Investment and Management Company common stock, as reported on the New York Stock Exchange, over the ten consecutive trading days ending on the second trading day immediately prior to the Effective Time (the “OP Unit Consideration” and, together with the Cash Consideration, the “Merger Consideration”).

Limited Partners’ Interests. (i) In connection with the Merger and in accordance with the procedures set forth in Section 5(a)(iii) of this Agreement, each Series A unit of limited partnership interest of CCP IV CCIP/2 (each a “Series A Unit”) outstanding immediately prior to the Effective Time and held by limited partners of CCP IVCCIP/2, except Series A Units held by limited partners who have perfected their appraisal rights pursuant to Exhibit A hereto, shall be converted into the right to receive, at the election of the limited partner, either (x) $57.44 8.27 in cash (the “Cash Consideration”) or (y) a number of partnership common units of Aimco OP calculated by dividing $57.44 8.27 by the average closing price of Apartment Investment and Management Company common stock, as reported on the New York Stock Exchange, over the ten consecutive trading days ending on the second trading day immediately prior to the Effective Time (the “OP Unit Consideration” and, together with the Cash Consideration, the “Merger Consideration”).