Partnership Redemption Right. (i) The Partnership, upon at least 30 days’ advance written notice to Series D Preferred Unitholders (“Series D Partnership Redemption Notice”), may redeem an aggregate number of Outstanding Series D Preferred Units with a total minimum value of no less than $50.0 million, at any time on or after June 29, 2023, at the applicable Series D Partnership Redemption Price, payable wholly in cash (the “Series D Partnership Redemption”). For the avoidance of doubt, after such Series D Partnership Redemption Notice is sent by the Partnership but prior to such Series D Partnership Redemption in accordance with this Section 19.8(a), Series D Preferred Unitholders shall have the right to convert their Series D Preferred Units in accordance with Section 19.6.
Partnership Redemption Right. Beginning on the second (2nd) anniversary of the issuance of the Series A Preferred Units, the Partnership, at its option, upon not fewer than 10 nor more than 60 days’ written notice as provided in Section 8 hereof, may redeem for cash the Series A Preferred Units, in whole or in part, at any time or from time to time, at a redemption price equal to $5.15 per Series A Preferred Unit (as equitably adjusted in the General Partner’s discretion for any split, reverse split, dividend or similar recapitalization event), plus (subject to Section 5(b) hereof) an amount equal to all dividends accrued and unpaid (whether or not authorized or declared) thereon, to, but not including, the date fixed for redemption, without interest. Additionally, with the prior written consent of the holder of the Series A Preferred Units being redeemed, at its option, upon not fewer than 10 nor more than 60 days’ written notice as provided in Section 8 hereof, the Partnership may redeem the Series A Preferred Units, in whole or in part, at any time or from time to time, for a number of REIT Shares (within the meaning of the Partnership Agreement) equal to the number of Series A Preferred Units being redeemed multiplied by 1.03 (as equitably adjusted in the General Partner’s discretion for any split, reverse split, dividend or similar recapitalization event), plus (subject to Section 5(b) hereof) an amount equal to all dividends accrued and unpaid (whether or not authorized or declared) on the Series A Preferred Units, to, but not including, the date fixed for redemption, without interest. All calculations under this Section 7 shall be made by rounding to the nearest cent or the nearest 1/100th of a share, as applicable.
