Common use of Purchase Price of Offer Clause in Contracts

Purchase Price of Offer. The Offer is based on a purchase price equal to $201 per Unit, less transfer fees of $50 per investor. The Bidder’s purchase price is also subject to downward adjustment in the event of any distributions paid by the Partnership on or after November 14, 2019. As we understand the Offer, distributions paid on or after November 14, 2019 will reduce the $201 per Unit purchase price. As the Partnership informed Limited Partners in a letter dated December 31, 2018, the Partnership estimated the NUV to approximate $380 at December 31, 2018. More recently, pursuant to independent third-party appraised valuations conducted during 2017, the Partnership has estimated the NUV as of December 3, 2019 to approximate $380 per Unit. The recent estimated NUV of approximately $380 per Unit is 89% greater than the purchase price offered by the Bidder, before deducting transfer fees and any distributions paid. This valuation is subject to a number of limitations, which are disclosed in more detail in the Forms 8-K the Partnership filed with the SEC on November 9, 2017 and February 15, 2018. In addition, comparative transfer price information is available upon request to our Investor Relations Department. The Partnership’s records indicate that Units have recently traded in a range from $280 to $300 per Unit. The Partnership, however, makes no representation that these prices are fair or reasonable.

Purchase Price of Offer. The Offer is based on a purchase price equal to $201 281 per Unit, less transfer fees of $50 100 per investor. The Bidder’s purchase price is also subject to downward adjustment in the event of any distributions paid by the Partnership on or after November 14October 23, 20192017. As we understand the Offer, distributions paid on or after November 14October 23, 2019 2017 will reduce the $201 281 per Unit purchase price. As the Partnership informed Limited Partners in a letter dated December 31, 20182016, the Partnership estimated the NUV to approximate $380 340 at December 31, 20182016. More recently, pursuant to independent third-party appraised valuations conducted during 2017, the Partnership has estimated the NUV as of December 3November 9, 2019 2017 to approximate $380 per Unit. The recent estimated NUV of approximately $380 per Unit is 8935% greater than the purchase price offered by the Bidder, before deducting transfer fees and any distributions paid. This valuation is subject to a number of limitations, which are disclosed in more detail in the Forms 8-K the Partnership filed with the SEC on January 12, 2017 and November 9, 2017 and February 15, 20182017. In addition, comparative transfer price information is available upon request to our Investor Relations Department. The Partnership’s records indicate that Units have recently traded in a range from $280 310 to $300 345 per Unit. The Partnership, however, makes no representation that these prices are fair or reasonable.

Purchase Price of Offer. The Offer is based on a purchase price equal to $201 205 per Unit, less transfer fees of $50 per investor. The Bidder’s purchase price is also subject to downward adjustment in the event of any distributions paid by the Partnership on or after November 149, 20192020. As we understand the Offer, distributions paid on or after November 149, 2019 2020 will reduce the $201 205 per Unit purchase price. As the Partnership informed Limited Partners in a letter dated December 31, 20182019, the Partnership estimated the NUV to approximate $380 390 at December 31, 20182019. More recently, pursuant to independent third-party appraised valuations conducted during 20172020, the Partnership has estimated the NUV as of December 310, 2019 2020 to approximate be approximately $380 490 per Unit. The recent estimated NUV of approximately $380 490 per Unit is 89239% greater than the purchase price offered by the Bidder, before deducting transfer fees and any distributions paid. This valuation is subject to a number of limitations, which are disclosed in more detail in the Forms Current Reports on Form 8-K the Partnership filed with the SEC on November 9, 2017 and February 15, 20182020 and December 14, 2020. In addition, comparative transfer price information is available upon request to our Investor Relations Department. The Partnership’s records indicate that Units have recently traded in a range from $280 330 to $300 345 per Unit. The Partnership, however, makes no representation that these prices are fair or reasonable.