Common use of Procedures for Series I Redemption Clause in Contracts

Procedures for Series I Redemption. (i) Notice of redemption will be (i) faxed, and (ii) mailed by the Partnership, by certified mail, postage prepaid, not less than 30 nor more than 60 days prior to the redemption date, addressed to the respective holders of record of the Series I Preferred Units at their respective addresses as they appear on the records of the Partnership. No failure to give or defect in such notice shall affect the validity of the proceedings for the redemption of any Series I Preferred Units except as to the holder to whom such notice was defective or not given. In addition to any information required by law, each such notice shall state: (a) the redemption date, (b) the Series I Redemption Price, (c) the aggregate number of Series I Preferred Units to be redeemed and if fewer than all of the outstanding Series I Preferred Units are to be redeemed, the number of Series I Preferred Units to be redeemed held by such holder, which number shall equal such holder’s pro rata share (based on the percentage of the aggregate number of outstanding Series I Preferred Units that the total number of Series I Preferred Units held by such holder represents) of the aggregate number of Series I Preferred Units to be redeemed, (d) the place or places where such Series I Preferred Units are to be surrendered for payment of the Series I Redemption Price, (e) that distributions on the Series I Preferred Units to be redeemed will cease to accumulate on such redemption date and (f) that payment of the Series I Redemption Price will be made upon presentation and surrender of such Series I Preferred Units. (ii) If the Partnership gives a notice of redemption in respect of Series I Preferred Units (which notice will be irrevocable) then, by 12:00 noon, New York City time, on the redemption date, the Partnership will deposit irrevocably in trust for the benefit of the Series I Preferred Units being redeemed funds sufficient to pay the applicable Series I Redemption Price and will give irrevocable instructions and authority to pay such Series I Redemption Price to the holders of the Series I Preferred Units upon surrender of the Series I Preferred Units by such holders at the place designated in the notice of redemption. On and after the date of redemption, distributions will cease to accumulate on the Series I Preferred Units or portions thereof called for redemption, unless the Partnership defaults in the payment thereof. If any date fixed for redemption of Series I Preferred Units is not a Business Day, then payment of the Series I Redemption Price payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day falls in the next calendar year, such payment will be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date fixed for redemption. If payment of the Series I Redemption Price is improperly withheld or refused and not paid by the Partnership, distributions on such Series I Preferred Units will continue to accumulate from the original redemption date to the date of payment, in which case the actual payment date will be considered the date fixed for redemption for purposes of calculating the applicable Series I Redemption Price.

Procedures for Series I Redemption. (i) Notice of redemption will be (i) faxed, and (ii) mailed by the Partnership, by certified mail, postage prepaid, not less than 30 nor more than 60 days prior to the redemption date, addressed to the respective holders of record of the Series I Preferred Units at their respective addresses as they appear on the records of the 125 Partnership. No failure to give or defect in such notice shall affect the validity of the proceedings for the redemption of any Series I Preferred Units except as to the holder to whom such notice was defective or not given. In addition to any information required by law, each such notice shall state: (a) the redemption date, (b) the Series I Redemption Price, (c) the aggregate number of Series I Preferred Units to be redeemed and if fewer than all of the outstanding Series I Preferred Units are to be redeemed, the number of Series I Preferred Units to be redeemed held by such holder, which number shall equal such holder’s 's pro rata share (based on the percentage of the aggregate number of outstanding Series I Preferred Units that the total number of Series I Preferred Units held by such holder represents) of the aggregate number of Series I Preferred Units to be redeemed, (d) the place or places where such Series I Preferred Units are to be surrendered for payment of the Series I Redemption Price, (e) that distributions on the Series I Preferred Units to be redeemed will cease to accumulate on such redemption date and (f) that payment of the Series I Redemption Price will be made upon presentation and surrender of such Series I Preferred Units. (ii) If the Partnership gives a notice of redemption in respect of Series I Preferred Units (which notice will be irrevocable) then, by 12:00 noon, New York City time, on the redemption date, the Partnership will deposit irrevocably in trust for the benefit of the Series I Preferred Units being redeemed funds sufficient to pay the applicable Series I Redemption Price and will give irrevocable instructions and authority to pay such Series I Redemption Price to the holders of the Series I Preferred Units upon surrender of the Series I Preferred Units by such holders at the place designated in the notice of redemption. On and after the date of redemption, distributions will cease to accumulate on the Series I Preferred Units or portions thereof called for redemption, unless the Partnership defaults in the payment thereof. If any date fixed for redemption of Series I Preferred Units is not a Business Day, then payment of the Series I Redemption Price payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day falls in the next calendar year, such payment will be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date fixed for redemption. If payment of the Series I Redemption Price is improperly withheld or refused and not paid by the Partnership, distributions on such Series I Preferred Units will continue to accumulate from the original redemption date to the date of payment, in which case the actual payment date will be considered the date fixed for redemption for purposes of calculating the applicable Series I Redemption Price.

Procedures for Series I Redemption. (i) Notice of redemption will be (i) faxed, and (ii) mailed by the Partnership, by certified mail, postage prepaid, not less than 30 nor more than 60 days prior to the redemption date, addressed to the respective holders of record of the Series I Preferred Units at their respective addresses as they appear on the records of the Partnership. No failure to give or defect in such notice shall affect the validity of the proceedings for the redemption of any Series I Preferred Units except as to the holder to whom such notice was defective or not given. In addition to any information required by law, each such notice shall state: (a) the redemption date, (b) the Series I Redemption Price, (c) the aggregate number of Series I Preferred Units to be redeemed and if fewer than all of the outstanding Series I Preferred Units are to be redeemed, the number of Series I Preferred Units to be redeemed held by such holder, which number shall equal such holder’s 's pro rata share (based on the percentage of the aggregate number of outstanding Series I Preferred Units that the total number of Series I Preferred Units held by such holder represents) of the aggregate number of Series I Preferred Units to be redeemed, (d) the place or places where such Series I Preferred Units are to be surrendered for payment of the Series I Redemption Price, (e) that distributions on the Series I Preferred Units to be redeemed will cease to accumulate on such redemption date and (f) that payment of the Series I Redemption Price will be made upon presentation and surrender of such Series I Preferred Units. (ii) If the Partnership gives a notice of redemption in respect of Series I Preferred Units (which notice will be irrevocable) then, by 12:00 noon, New York City time, on the redemption date, the Partnership will deposit irrevocably in trust for the benefit of the Series I Preferred Units being redeemed funds sufficient to pay the applicable Series I Redemption Price and will give irrevocable instructions and authority to pay such Series I Redemption Price to the holders of the Series I Preferred Units upon surrender of the Series I Preferred Units by such holders at the place designated in the notice of redemption. On and after the date of redemption, distributions will cease to accumulate on the Series I Preferred Units or portions thereof called for redemption, unless the Partnership defaults in the payment thereof. If any date fixed for redemption of Series I Preferred Units is not a Business Day, then payment of the Series I Redemption Price payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day falls in the next calendar year, such payment will be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date fixed for redemption. If payment of the Series I Redemption Price is improperly 143 149 withheld or refused and not paid by the Partnership, distributions on such Series I Preferred Units will continue to accumulate from the original redemption date to the date of payment, in which case the actual payment date will be considered the date fixed for redemption for purposes of calculating the applicable Series I Redemption Price.

Procedures for Series I Redemption. (i) Notice of redemption will be (i) faxed, and (ii) mailed by the Partnership, by certified mail, postage prepaid, not less than 30 nor more than 60 days prior to the redemption date, addressed to the respective holders of record of the Series I Preferred Units at their respective addresses as they appear on the records of the Partnership. No failure to give or defect in such notice shall affect the validity of the proceedings for the redemption of any Series I Preferred Units except as to the holder to whom such notice was defective or not given. In addition to any information required by law, each such notice shall state: (a) the redemption date, (b) the Series I Redemption Price, (c) the aggregate number of Series I Preferred Units to be redeemed and if fewer than all of the outstanding Series I Preferred Units are to be redeemed, the number of Series I Preferred Units to be redeemed held by such holder, which number shall equal such holder’s 's pro rata share (based on the percentage of the aggregate number of outstanding Series I Preferred Units that the total number of Series I Preferred Units held by such holder represents) of the aggregate number of Series I Preferred Units to be redeemed, (d) the place or places where such Series I Preferred Units are to be surrendered for payment of the Series I Redemption Price, (e) that distributions on the Series I Preferred Units to be redeemed will cease to accumulate on such redemption date 116 and (f) that payment of the Series I Redemption Price will be made upon presentation and surrender of such Series I Preferred Units. (ii) If the Partnership gives a notice of redemption in respect of Series I Preferred Units (which notice will be irrevocable) then, by 12:00 noon, New York City time, on the redemption date, the Partnership will deposit irrevocably in trust for the benefit of the Series I Preferred Units being redeemed funds sufficient to pay the applicable Series I Redemption Price and will give irrevocable instructions and authority to pay such Series I Redemption Price to the holders of the Series I Preferred Units upon surrender of the Series I Preferred Units by such holders at the place designated in the notice of redemption. On and after the date of redemption, distributions will cease to accumulate on the Series I Preferred Units or portions thereof called for redemption, unless the Partnership defaults in the payment thereof. If any date fixed for redemption of Series I Preferred Units is not a Business Day, then payment of the Series I Redemption Price payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day falls in the next calendar year, such payment will be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date fixed for redemption. If payment of the Series I Redemption Price is improperly withheld or refused and not paid by the Partnership, distributions on such Series I Preferred Units will continue to accumulate from the original redemption date to the date of payment, in which case the actual payment date will be considered the date fixed for redemption for purposes of calculating the applicable Series I Redemption Price.

Procedures for Series I Redemption. (i) Notice of redemption will be (i) faxed, and (ii) mailed by the Partnership, by certified mail, postage prepaid, not less than 30 nor more than 60 days prior to the redemption date, addressed to the respective holders of record of the Series I Preferred Units at their respective addresses as they appear on the records of the Partnership. No failure to give or defect in such notice shall affect the validity of the proceedings for the redemption of any Series I Preferred Units except as to the holder to whom such notice was defective or not given. In addition to any information required by law, each such notice shall state: (a) the redemption date, (b) the Series I Redemption Price, (c) the aggregate number of Series I Preferred Units to be redeemed and if fewer than all of the outstanding Series I Preferred Units are to be redeemed, the number of Series I Preferred Units to be redeemed held by such holder, which number shall equal such holder’s 's pro rata share (based on the percentage of the aggregate number of outstanding Series I Preferred Units that the total number of Series I Preferred Units held by such holder represents) of the aggregate number of Series I Preferred Units to be redeemed, (d) the place or places where such Series I Preferred Units are to be surrendered for payment of the Series I Redemption Price, (e) that distributions on the Series I Preferred Units to be redeemed will cease to accumulate on such redemption date and (f) that payment of the Series I Redemption Price will be made upon presentation and surrender of such Series I Preferred Units. (ii) If the Partnership gives a notice of redemption in respect of Series I Preferred Units (which notice will be irrevocable) then, by 12:00 noon, New York City time, on the redemption date, the Partnership will deposit irrevocably in trust for the benefit of the Series I Preferred Units being redeemed funds sufficient to pay the applicable Series I Redemption Price and will give irrevocable instructions and authority to pay such Series I Redemption Price to the holders of the Series I Preferred Units upon surrender of the Series I Preferred Units by such holders at the place designated in the notice of redemption. On and after the date of redemption, distributions will cease to accumulate on the Series I Preferred Units or portions thereof called for redemption, unless the Partnership defaults in the payment thereof. If any date fixed for redemption of Series I Preferred Units is not a Business Day, then payment of the Series I Redemption Price payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day falls in the next calendar year, such payment will be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date fixed for redemption. If payment of the Series I Redemption Price is improperly withheld or refused and not paid by the Partnership, distributions on such Series I Preferred Units will continue to accumulate from the original redemption date to the date of payment, in which case the actual payment date will be considered the date fixed for redemption for purposes of calculating the applicable Series I Redemption Price.

Procedures for Series I Redemption. (i) Notice of redemption will be (i) faxed, and (ii) mailed by the Partnership, by certified mail, postage prepaid, not less than 30 nor more than 60 days prior to the redemption date, addressed to the respective holders of record of the Series I Preferred Units at their respective addresses as they appear on the records of the Partnership. No failure to give or defect in such notice shall affect the validity of the proceedings for the redemption of any Series I Preferred Units except as to the holder to whom such notice was defective or not given. In addition to any information required by law, each such notice shall state: (a) the redemption date, (b) the Series I Redemption Price, (c) the aggregate number of Series I Preferred Units to be redeemed and if fewer than all of the outstanding Series I Preferred Units are to be redeemed, the number of Series I Preferred Units to be redeemed held by such holder, which number shall equal such holder’s 's pro rata share (based on the percentage of the aggregate number of outstanding Series I Preferred Units that the total number of Series I Preferred Units held by such holder represents) of the aggregate number of Series I Preferred Units to be redeemed, (d) the place or places where such Series I Preferred Units are to be surrendered for payment of the Series I Redemption Price, (e) that distributions on the Series I Preferred Units to be redeemed will cease to accumulate on such redemption date and (f) that payment of the Series I Redemption Price will be made upon presentation and surrender of such Series I Preferred Units. (ii) If the Partnership gives a notice of redemption in respect of Series I Preferred Units (which notice will be irrevocable) then, by 12:00 noon, New York City time, on the redemption date, the Partnership will deposit irrevocably in trust for the benefit of the Series I Preferred Units being redeemed funds sufficient to pay the applicable Series I Redemption Price and will give irrevocable instructions and authority to pay such Series I Redemption Price to the holders of the Series I Preferred Units upon surrender of the Series I Preferred Units by such holders at the place designated in the notice of redemption. On and after the date of redemption, distributions will cease to accumulate on the Series I Preferred Units or portions thereof called for redemption, unless the Partnership defaults in the payment thereof. If any date fixed for redemption of Series I Preferred Units is not a Business Day, then payment of the Series I Redemption Price payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day falls in the next calendar year, such payment will be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date fixed for redemption. If payment of the Series I Redemption Price is improperly 113 withheld or refused and not paid by the Partnership, distributions on such Series I Preferred Units will continue to accumulate from the original redemption date to the date of payment, in which case the actual payment date will be considered the date fixed for redemption for purposes of calculating the applicable Series I Redemption Price.