Common use of Option Exercised Clause in Contracts

Option Exercised. If, within 90 days after receiving the acquiring Partner's notice pursuant to Section 13.3, the other Partner notifies the acquiring Partner of its election to accept the acquisition in the Partnership name, the acquiring Partner or Affiliate shall convey to the Partnership, by deed or by assignment of lease in form acceptable to the other Partner, such acquired interest. The acquired interest shall become a part of the Partnership for all purposes of this Agreement immediately upon notice of such other Partner's election to accept such. Such other Partner shall promptly pay to the acquiring Partner its proportionate share of the latter's actual out-of-pocket acquisition costs and shall assume its proportionate share of any indebtedness incurred in making such acquisition.

Option Exercised. If, within 90 days after receiving the ---------------- acquiring Partner's notice pursuant to Section 13.3, the other Partner notifies the acquiring Partner of its election to accept the acquisition in the Partnership name, the acquiring Partner or Affiliate shall convey to the Partnership, by be deed or by assignment of lease in form acceptable to the other Partner, such acquired interest. The acquired interest shall become a part of the Partnership for all purposes of this Agreement immediately upon notice of such other Partner's Partners election to accept such. Such other Partner shall promptly pay to the acquiring Partner its proportionate share of the latter's actual accrual out-of-pocket acquisition costs and shall assume its proportionate share of any indebtedness incurred in making such acquisition.

Option Exercised. If, within 90 days after receiving the ---------------- acquiring Partner's notice pursuant to Section 13.3, the other Partner notifies the acquiring Partner of its election to accept the acquisition in the Partnership name, the acquiring Partner or Affiliate shall convey to the Partnership, by deed or by assignment of lease in form acceptable to the other Partner, such acquired interest. The acquired interest shall become a part of the Partnership for all purposes of this Agreement immediately upon notice of such other Partner's election to accept such. Such other Partner shall promptly pay to the acquiring Partner its proportionate share of the latter's actual out-out- of-pocket acquisition costs and shall assume its proportionate share of any indebtedness incurred in making such acquisition.