Common use of Purchase of Interests Clause in Contracts

Purchase of Interests. Upon the Operating Partnership's exercise of the Option, the Grantor shall, in accordance with Section 2.2 hereof, transfer, assign, and convey to the Operating Partnership and the Operating Partnership shall accept as a contribution to its capital from the Grantor, all right, title and interest in and to the Interests, free and clear of all Encumbrances (as defined in Section 3.1(a)), in exchange for the Acquisition Consideration.

Purchase of Interests. Upon the Operating Partnership's exercise of the Option, the Grantor Grantors shall, in accordance with Section 2.2 hereof, transfer, assign, and convey to the Operating Partnership and the Operating Partnership shall accept as a contribution to its capital from the GrantorGrantors, all right, title and interest in and to the Interests, free and clear of all Encumbrances (as defined in Section 3.1(a)), in exchange for the Acquisition Consideration.