Common use of Purchase of OP Units Clause in Contracts

Purchase of OP Units. (a) The Company’s obligations to facilitate the registration of Registrable Shares hereunder shall apply notwithstanding one or both of (1) the requirement in Section 8.6(a) of the Partnership Agreement that a redemption may be effected pursuant to such Section only on or after the first anniversary of the Effective Date (as defined in the Partnership Agreement) and (2) clause (ii) of the first sentence of Section 8.6(f) of the Partnership Agreement (such limitations in the preceding phrases (i) and (ii), collectively, the “Redemption Limitations”). If Registrable Shares are eligible to be sold pursuant to a registration statement filed hereunder notwithstanding the Redemption Limitations, the Company shall facilitate such sale by acquiring the underlying OP Units and exchanging such OP Units for shares of Common Stock pursuant to Section 7(b) hereof. (b) If an Investor shall have requested the registration of Registrable Shares pursuant to Section 2 or 3 hereof and the Company shall be obligated to facilitate the sale of such Registrable Shares by exchanging OP Units for shares of Common Stock pursuant to Section 7(a) hereof, the settlement date for such exchange shall be such date as the Investor may reasonably request and the number of shares of Common Stock to be exchanged shall equal the REIT Shares Amount as determined pursuant to Section 8.6(b) of the Partnership Agreement, mutatis mutandis, with the settlement date or dates reasonably requested by the Investor from time to time pursuant hereto considered the Specified Redemption Date (as defined in the Partnership Agreement) for purposes of such determination.

Purchase of OP Units. (a) The Company’s obligations to facilitate the registration of Registrable Shares hereunder shall apply notwithstanding one or both of (1) the requirement in Section 8.6(a) of the Partnership Agreement that a redemption may be effected pursuant to such Section only on or after the first anniversary of the Effective Date (as defined in the Partnership Agreement) and (2) clause (ii) of the first sentence of Section 8.6(f) of the Partnership Agreement (such limitations in the preceding phrases (i) and (ii), collectively, the “Redemption LimitationsLimitation”). If Registrable Shares are eligible to be sold pursuant to a registration statement filed hereunder notwithstanding the Redemption LimitationsLimitation, the Company shall facilitate such sale by acquiring the underlying OP Units and exchanging such OP Units for shares of Common Stock pursuant to Section 7(b) hereof. (b) If an Investor shall have requested the registration of Registrable Shares pursuant to Section 2 or 3 hereof and the Company shall be obligated to facilitate the sale of such Registrable Shares by exchanging OP Units for shares of Common Stock pursuant to Section 7(a) hereof, the settlement date for such exchange shall be such date as the Investor may reasonably request and the number of shares of Common Stock to be exchanged shall equal the REIT Shares Amount as determined pursuant to Section 8.6(b) of the Partnership Agreement, mutatis mutandis, with the settlement date or dates reasonably requested by the Investor from time to time pursuant hereto considered the Specified Redemption Date (as defined in the Partnership Agreement) for purposes of such determination.

Purchase of OP Units. (a) The Company’s obligations to facilitate the registration of Registrable Shares hereunder shall apply notwithstanding one or both of (1) the requirement in Section 8.6(a) of the Partnership Agreement that a redemption may be effected pursuant to such Section only on or after the first anniversary of the Effective Date (as defined in the Partnership Agreement) and (2) clause (ii) of the first sentence of Section 8.6(f) 8.6.E of the Partnership Agreement (such limitations in the preceding phrases (i) and (ii), collectively, the “Redemption LimitationsLimitation”). If Registrable Shares are eligible to be sold pursuant to a registration statement filed hereunder notwithstanding the Redemption LimitationsLimitation, the Company shall facilitate such sale by acquiring the underlying OP Units and exchanging such OP Units for shares of Common Stock pursuant to Section 7(b) hereof. (b) If an Investor shall have requested the registration of Registrable Shares pursuant to Section 2 3 or 3 4 hereof and the Company shall be obligated to facilitate the sale of such Registrable Shares by exchanging OP Units for shares of Common Stock pursuant to Section 7(a) hereof, the settlement date for such exchange shall be such date as the Investor may reasonably request and the number of shares of Common Stock to be exchanged shall equal the REIT Shares Amount as determined pursuant to Section 8.6(b) 8.6.B of the Partnership Agreement, mutatis mutandis, with the settlement date or dates reasonably requested by the Investor from time to time pursuant hereto considered the Specified Redemption Date (as defined in the Partnership Agreement) for purposes of such determination.