Redemption Effective Date Clause Samples
The Redemption Effective Date clause defines the specific date on which a redemption—such as the repurchase or cancellation of shares, bonds, or other securities—becomes effective. In practice, this clause sets out when the rights and obligations associated with the redeemed securities cease and when payment or settlement must occur. By clearly establishing the effective date, the clause ensures all parties are aware of the timeline for the redemption process, thereby reducing confusion and potential disputes regarding the timing of rights transfers and payments.
Redemption Effective Date. The first date on which a Redeeming Party may elect to redeem Partnership Units, which date shall be the later of (i) the first anniversary of the date such Partnership Units are issued and (ii) the effective date of any registration statement filed by the Partnership with respect to the REIT Shares to be issued upon redemption of Partnership Units by a Redeeming Party.
Redemption Effective Date. The first date on which a Redeeming Party may elect to redeem Partnership Units, which date shall be (i) for Partnership Units, other than those issued upon conversion of LTIP Units, the later of (iA) the first anniversary of the date such Partnership Units are issued and (iiB) the effective date of any registration statement filed by the Partnership with respect to the REIT Shares to be issued upon redemption of Partnership Units by a Redeeming Party or (ii) upon issuance with respect to any Partnership Units issued upon conversion of LTIP Units.
Redemption Effective Date. The first date on which a Redeeming Party ------------------------- may elect to redeem Partnership Units, which date shall be twelve (12) months following the date of this Agreement or twelve (12) months after the contribution of a Property Interest pursuant to a Contribution Agreement.