Common use of Purchases of Shares by the General Partner Entity Clause in Contracts

Purchases of Shares by the General Partner Entity. In the event that the General Partner Entity shall elect to purchase from its shareholders Shares in connection with a share repurchase or similar program or for the purpose of delivering such Shares to satisfy an obligation under any distribution reinvestment or share purchase program adopted by the General Partner Entity, any employee share purchase plan adopted by the General Partner Entity or any similar obligation or arrangement undertaken by the General Partner Entity in the future, the purchase price paid by the General Partner Entity for such Shares and any other expenses incurred by the General Partner Entity in connection with such purchase shall be considered REIT Expenses and shall be reimbursed to the General Partner Entity, subject to the conditions that: (i) if such Shares subsequently are to be sold by the General Partner Entity, the General Partner Entity pays to the Partnership any proceeds received by the General Partner Entity for such Shares (which sales proceeds shall include the amount of distributions reinvested under any distribution reinvestment or similar program; provided that a transfer of Shares for Partnership Units pursuant to Section 8.6 hereof would not be considered a sale for United States federal, state and local income tax purposes); and (ii) if such Shares are not retransferred by the General Partner Entity within thirty (30) days after the purchase thereof, the General Partner Entity shall cause the Partnership to cancel a number of Partnership Units of the appropriate class (rounded to the nearest whole Partnership Unit) held by the General Partner Entity or the General Partner equal to the product attained by multiplying the number of such Shares by a fraction, the numerator of which is one and the denominator of which is the Conversion Factor in effect on the date of such cancellation (in which case such reimbursement shall be treated as a distribution in redemption of Partnership Units held by the General Partner Entity or the General Partner, as the case may be).

Purchases of Shares by the General Partner Entity. In the event that If the General Partner Entity shall elect exercises its rights under the Declaration of Trust to purchase Shares or otherwise elects to purchase from its shareholders Shares in connection with a share repurchase or similar program or for the purpose of delivering such Shares to satisfy an obligation under any distribution dividend reinvestment or share equity purchase program adopted by the General Partner Entity, any employee share equity purchase plan adopted by the General Partner Entity or any similar obligation or arrangement undertaken by the General Partner Entity in the future, the purchase price paid by the General Partner Entity for such those Shares and any other expenses incurred by the General Partner Entity in connection with such purchase shall be considered REIT Expenses expenses of the Partnership and shall be reimbursed reimbursable to the General Partner Entity, subject to the conditions that: (i) if such those Shares subsequently are to be sold by the General Partner Entity, the General Partner Entity pays shall pay to the Partnership any proceeds received by the General Partner Entity for such those Shares (which sales proceeds shall include the amount of distributions reinvested under any distribution reinvestment or similar program; provided that a transfer of Shares for Partnership Units pursuant to Section 8.6 hereof would not be considered a sale for United States federal, state and local income tax such purposes); and (ii) if such Shares are not retransferred by the General Partner Entity within thirty (30) days after the purchase thereof, the General Partner Entity shall cause the Partnership to cancel a number of Partnership Units of the appropriate class (rounded to the nearest whole Partnership Unit) held by the General Partner Entity or the General Partner equal to the product attained by multiplying the number of such those Shares by a fraction, the numerator of which is one and the denominator of which is the Conversion Factor in effect on the date of such cancellation (in which case such reimbursement shall be treated as a distribution in redemption of Partnership Units held by the General Partner Entity or the General Partner, as the case may be)Factor.

Purchases of Shares by the General Partner Entity. In the event that If the General Partner Entity shall elect exercises its rights under the Declaration of Trust (or, if the General Partner is not the General Partner Entity, the organizational documents of the General Partner Entity) to purchase Shares or otherwise elects or is required to purchase from its shareholders Shares in connection with a share repurchase or similar program or otherwise, or for the purpose of delivering such Shares to satisfy an obligation under any distribution dividend reinvestment or share equity purchase program adopted by the General Partner Entity, any employee share equity purchase plan adopted by the General Partner Entity or any similar obligation or arrangement undertaken by the General Partner Entity in the future, the purchase price paid by the General Partner Entity for such those Shares and any other expenses incurred by the General Partner Entity in connection with such purchase shall be considered REIT Expenses expenses of the Partnership and shall be reimbursed reimbursable to the General Partner Entity, subject to the conditions that: (i) if such those Shares subsequently are to be sold by the General Partner Entity, the General Partner Entity pays shall pay to the Partnership any proceeds received by the General Partner Entity for such those Shares (which sales proceeds shall include the amount of distributions reinvested under any distribution reinvestment or similar program; provided provided, however, that a transfer of Shares for Partnership Units pursuant to Section 8.6 hereof would not be considered a sale for United States federal, state and local income tax such purposes); and (ii) if such Shares are required to be cancelled pursuant to applicable law or are not retransferred by the General Partner Entity within thirty (30) days after the purchase thereof, the General Partner Entity shall cause the Partnership to cancel a number of Partnership Units of the appropriate class (rounded to the nearest whole Partnership Unit) held by the General Partner Entity or the General Partner equal to the product attained by multiplying the number of such those Shares by a fraction, the numerator of which is one and the denominator of which is the Conversion Factor in effect on the date of such cancellation (in which case such reimbursement shall be treated as a distribution in redemption of Partnership Units held by the General Partner Entity or the General Partner, as the case may be)Factor.

Purchases of Shares by the General Partner Entity. In If the General Partner exercises its rights under the Declaration of Trust (or, in the event that the General Partner Entity’s only assets are interests in the General Partner, interests in the Partnership and cash or similar instruments, the General Partner Entity shall elect the General Partner Entity Exercises its rights under its organizational documents) to purchase Shares or otherwise elects to purchase from its shareholders Shares in connection with a share repurchase or similar program or for the purpose of delivering such Shares to satisfy an obligation under any distribution dividend reinvestment or share equity purchase program adopted by the General Partner Entity, any employee share equity purchase plan adopted by the General Partner Entity or any similar obligation or arrangement undertaken by the General Partner Entity in the future, the purchase price paid by the General Partner Entity for such those Shares and any other expenses incurred by the General Partner Entity in connection with such purchase shall be considered REIT Expenses expenses of the Partnership and shall be reimbursed reimbursable to the General Partner Entity, subject to the conditions that: (i) if such those Shares subsequently are to be sold by the General Partner Entity, the General Partner Entity pays shall pay to the Partnership any proceeds received by the General Partner Entity for such those Shares (which sales proceeds shall include the amount of distributions reinvested under any distribution reinvestment or similar program; provided that a transfer of Shares for Partnership Units pursuant to Section 8.6 hereof would not be considered a sale for United States federal, state and local income tax such purposes); and (ii) if such Shares are not retransferred by the General Partner Entity within thirty (30) days after the purchase thereof, the General Partner Entity shall cause the Partnership to cancel a number of Partnership Units of the appropriate class (rounded to the nearest whole Partnership Unit) held by the General Partner Entity or the General Partner equal to the product attained by multiplying the number of such those Shares by a fraction, the numerator of which is one and the denominator of which is the Conversion Factor in effect on the date of such cancellation (in which case such reimbursement shall be treated as a distribution in redemption of Partnership Units held by the General Partner Entity or the General Partner, as the case may be)Factor.

Purchases of Shares by the General Partner Entity. In the event that If the General Partner Entity shall elect exercises its rights under the Articles of Incorporation to purchase Shares or otherwise elects to purchase from its shareholders Shares in connection with a share repurchase or similar program or for the purpose of delivering such Shares to satisfy an obligation under any distribution dividend reinvestment or share equity purchase program adopted by the General Partner Entity, any employee share equity purchase plan adopted by the General Partner Entity or any similar obligation or arrangement undertaken by the General Partner Entity in the future, the purchase price paid by the General Partner Entity for such those Shares and any other expenses incurred by the General Partner Entity in connection with such purchase shall be considered REIT Expenses expenses of the Partnership and shall be reimbursed reimbursable to the General Partner Entity, subject to the conditions that: (i) if such those Shares subsequently are to be sold by the General Partner Entity, the General Partner Entity pays shall pay to the Partnership any proceeds received by the General Partner Entity for such those Shares (which sales proceeds shall include the amount of distributions reinvested under any distribution reinvestment or similar program; provided that a transfer of Shares for Partnership Units pursuant to Section 8.6 hereof would not be considered a sale for United States federal, state and local income tax such purposes); and (ii) if such Shares are not retransferred by the General Partner Entity within thirty (30) days after the purchase thereof, the General Partner Entity shall cause the Partnership to cancel a number of Partnership Units of the appropriate class (rounded to the nearest whole Partnership Unit) held by the General Partner Entity or the General Partner equal to the product attained by multiplying the number of such those Shares by a fraction, the numerator of which is one and the denominator of which is the Conversion Factor in effect on the date of such cancellation (in which case such reimbursement shall be treated as a distribution in redemption of Partnership Units held by the General Partner Entity or the General Partner, as the case may be)Factor.

Purchases of Shares by the General Partner Entity. In the event that If the General Partner Entity shall elect exercises its rights under the Articles of Association to purchase Shares or otherwise elects to purchase from its shareholders Shares in connection with a share repurchase or similar program or for the purpose of delivering such Shares to satisfy an obligation under any distribution dividend reinvestment or share equity purchase program adopted by the General Partner Entity, any employee share equity purchase plan adopted by the General Partner Entity or any similar obligation or arrangement undertaken by the General Partner Entity in the future, the purchase price paid by the General Partner Entity for such those Shares and any other expenses incurred by the General Partner Entity in connection with such purchase shall be considered REIT Expenses expenses of the Partnership and shall be reimbursed reimbursable to the General Partner Entity, subject to the conditions that: (i) if such those Shares subsequently are to be sold by the General Partner Entity, the General Partner Entity pays shall pay to the Partnership any proceeds received by the General Partner Entity for such those Shares (which sales proceeds shall include the amount of distributions reinvested under any distribution reinvestment or similar program; provided that a transfer of Shares for Partnership Units pursuant to Section 8.6 hereof would not be considered a sale for United States federal, state and local income tax such purposes); and (ii) if such Shares are not retransferred by the General Partner Entity within thirty (30) days after the purchase thereof, the General Partner Entity shall cause the Partnership to cancel a number of Partnership Units of the appropriate class (rounded to the nearest whole Partnership Unit) held by the General Partner Entity or the General Partner equal to the product attained by multiplying the number of such those Shares by a fraction, the numerator of which is one and the denominator of which is the Conversion Factor in effect on the date of such cancellation (in which case such reimbursement shall be treated as a distribution in redemption of Partnership Units held by the General Partner Entity or the General Partner, as the case may be)Factor.

Purchases of Shares by the General Partner Entity. In the event that If the General Partner Entity shall elect exercises its rights under the Charter (or, if the General Partner is not the General Partner Entity, the organizational documents of the General Partner Entity) to purchase Shares or otherwise elects or is required to purchase from its shareholders Shares in connection with a share repurchase or similar program or otherwise, or for the purpose of delivering such Shares to satisfy an obligation under any distribution dividend reinvestment or share equity purchase program adopted by the General Partner Entity, any employee share equity purchase plan adopted by the General Partner Entity or any similar obligation or arrangement undertaken by the General Partner Entity in the future, the purchase price paid by the General Partner Entity for such those Shares and any other expenses incurred by the General Partner Entity in connection with such purchase shall be considered REIT Expenses expenses of the Partnership and shall be reimbursed reimbursable to the General Partner Entity, subject to the conditions that: (i) if such those Shares subsequently are to be sold by the General Partner Entity, the General Partner Entity pays shall pay to the Partnership any proceeds received by the General Partner Entity for such those Shares (which sales proceeds shall include the amount of distributions reinvested under any distribution reinvestment or similar program; provided provided, however, that a transfer of Shares for Partnership Units pursuant to Section 8.6 hereof would not be considered a sale for United States federal, state and local income tax such purposes); and (ii) if such Shares are required to be cancelled pursuant to applicable law or are not retransferred by the General Partner Entity within thirty (30) days after the purchase thereof, the General Partner Entity shall cause the Partnership to cancel a number of Partnership Units of the appropriate class (rounded to the nearest whole Partnership Unit) held by the General Partner Entity or the General Partner equal to the product attained by multiplying the number of such those Shares by a fraction, the numerator of which is one and the denominator of which is the Conversion Factor in effect on the date of such cancellation (in which case such reimbursement shall be treated as a distribution in redemption of Partnership Units held by the General Partner Entity or the General Partner, as the case may be)Factor.

Purchases of Shares by the General Partner Entity. In the event that If the General Partner Entity shall elect exercises its rights under the Charter (or, if the General Partner is not the General Partner Entity, the organizational documents of the General Partner Entity) to purchase Shares or otherwise elects or is required to purchase from its shareholders stockholders Shares in connection with a share repurchase or similar program or otherwise, or for the purpose of delivering such Shares to satisfy an obligation under any distribution dividend reinvestment or share equity purchase program adopted by the General Partner Entity, any employee share equity purchase plan adopted by the General Partner Entity or any similar obligation or arrangement undertaken by the General Partner Entity in the future, the purchase price paid by the General Partner Entity for such those Shares and any other expenses incurred by the General Partner Entity in connection with such purchase shall be considered REIT Expenses expenses of the Partnership and shall be reimbursed reimbursable to the General Partner Entity, subject to the conditions that: (i) if such those Shares subsequently are to be sold by the General Partner Entity, the General Partner Entity pays shall pay to the Partnership any proceeds received by the General Partner Entity for such those Shares (which sales proceeds shall include the amount of distributions reinvested under any distribution reinvestment or similar program; provided provided, however, that a transfer of Shares for Partnership Units pursuant to Section 8.6 hereof would not be considered a sale for United States federal, state and local income tax such purposes); and (ii) if such Shares are required to be cancelled pursuant to applicable law or are not retransferred by the General Partner Entity within thirty (30) days after the purchase thereof, the General Partner Entity shall cause the Partnership to cancel a number of Partnership Units of the appropriate class (rounded to the nearest whole Partnership Unit) held by the General Partner Entity or the General Partner equal to the product attained by multiplying the number of such those Shares by a fraction, the numerator of which is one and the denominator of which is the Conversion Factor in effect on the date of such cancellation (in which case such reimbursement shall be treated as a distribution in redemption of Partnership Units held by the General Partner Entity or the General Partner, as the case may be)Factor.