Common use of Other Redemptions Clause in Contracts

Other Redemptions. At any time that the General Partner exercises its right to redeem all or any of the Series B Preferred Shares, the General Partner shall cause the Partnership to concurrently redeem an equal number of Series B Preferred Partnership Units, at a redemption price per Series B Preferred Partnership Unit payable in cash and equal to the same price per share paid by the General Partner to redeem the Series B Preferred Shares (i.e., a redemption price of $25.00 per Series B Preferred Share, plus any accrued and unpaid dividends thereon). No interest shall accrue for the benefit of the Series B Preferred Partnership Units to be redeemed on any cash set aside by the Partnership.

Appears in 2 contracts

Samples: Agreement of Limited Partnership (Hersha Hospitality Trust), Agreement of Limited Partnership (Hersha Hospitality Trust)

AutoNDA by SimpleDocs

Other Redemptions. At any time that the General Partner exercises its right to redeem all or any of the Series B A Preferred Shares, the General Partner shall cause the Partnership to concurrently redeem an equal number of Series B A Preferred Partnership Units, at a redemption price per Series B A Preferred Partnership Unit payable in cash and equal to the same price per share paid by the General Partner to redeem the Series B A Preferred Shares (i.e., a redemption price of $25.00 per Series B A Preferred Share, plus any accrued and unpaid dividends thereon). No interest shall accrue for the benefit of the Series B A Preferred Partnership Units to be redeemed on any cash set aside by the Partnership.

Appears in 2 contracts

Samples: Agreement of Limited Partnership (Hersha Hospitality Trust), Agreement of Limited Partnership (Hersha Hospitality Trust)

Other Redemptions. At any time that the General Partner exercises its right to redeem all or any of the Series B D Preferred Shares, the General Partner shall cause the Partnership to concurrently redeem an equal number of Series B D Preferred Partnership Units, at a redemption price per Series B D Preferred Partnership Unit payable in cash and equal to the same price per share paid by the General Partner to redeem the Series B D Preferred Shares (i.e., a redemption price of $25.00 per Series B D Preferred Share, plus any accrued and unpaid dividends thereon). No interest shall accrue for the benefit of the Series B D Preferred Partnership Units to be redeemed on any cash set aside by the Partnership.

Appears in 1 contract

Samples: Agreement of Limited Partnership (Hersha Hospitality Trust)

Other Redemptions. At any time that the General Partner exercises its right to redeem all or any of the Series B E Preferred Shares, the General Partner shall cause the Partnership to concurrently redeem an equal number of Series B E Preferred Partnership Units, at a redemption price per Series B E Preferred Partnership Unit payable in cash and equal to the same price per share paid by the General Partner to redeem the Series B E Preferred Shares (i.e., a redemption price of $25.00 per Series B E Preferred Share, plus any accrued and unpaid dividends thereon). No interest shall accrue for the benefit of the Series B E Preferred Partnership Units to be redeemed on any cash set aside by the Partnership.

Appears in 1 contract

Samples: Agreement of Limited Partnership (Hersha Hospitality Trust)

AutoNDA by SimpleDocs

Other Redemptions. At any time that the General Partner exercises its right to redeem all or any of the Series B C Preferred Shares, the General Partner shall cause the Partnership to concurrently redeem an equal number of Series B C Preferred Partnership Units, at a redemption price per Series B C Preferred Partnership Unit payable in cash and equal to the same price per share paid by the General Partner to redeem the Series B C Preferred Shares (i.e., a redemption price of $25.00 per Series B C Preferred Share, plus any accrued and unpaid dividends thereon). No interest shall accrue for the benefit of the Series B C Preferred Partnership Units to be redeemed on any cash set aside by the Partnership.

Appears in 1 contract

Samples: Agreement of Limited Partnership (Hersha Hospitality Trust)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!