Common use of Redemption-Exchange Rights Clause in Contracts

Redemption-Exchange Rights. 6.1.1. Subject to Section 6.1.3, the Redemption-Exchange Units entitle the Redemption-Exchange Unitholder to redeem all or any portion of its Redemption-Exchange Units in accordance with this Article 6 at any time after the second anniversary of the Closing Date. 6.1.2. Subject to the provisions of this Agreement, a Redemption-Exchange Unitholder may require the Partnership to redeem all or any portion of the Redemption-Exchange Units (the “Redemption Right”) for an amount of cash equal to the Redemption Amount, provided that exercise of the Redemption Right or the payment of the Redemption Amount would not otherwise cause the Partnership to be in breach or violation of any agreement material to the Partnership or the BREP Group or applicable Law. Each Redemption-Exchange Unit to be redeemed by the Redemption-Exchange Unitholder must be tendered in accordance with the procedures set out in Section 6.2. 6.1.3. Subject to the provisions of this Agreement, BREP shall have the right (the “Exchange Right”), which shall be exercisable after presentation of the Redemption Notice in accordance with Section 6.2, to elect to acquire all (but not less than all) the Redemption-Exchange Units to be redeemed under the Redemption Notice in consideration for the Applicable Number of BREP Units.

Redemption-Exchange Rights. 6.1.1. Subject to Section 6.1.3, the Redemption-Exchange Units entitle the a Redemption-Exchange Unitholder to redeem all or any portion of its Redemption-Exchange Units in accordance with this Article 6 at any time after the second anniversary of the Closing Date. 6.1.2. Subject to the provisions of this Agreement, a Redemption-Exchange Unitholder may require the Partnership to redeem all or any portion of the Redemption-Exchange Units (the “Redemption Right”) for an amount of cash equal to the Redemption Amount, provided that exercise of the Redemption Right or the payment of the Redemption Amount would not otherwise cause the Partnership to be in breach or violation of any agreement material to the Partnership or the BREP Group or applicable Law. Each Redemption-Exchange Unit to be redeemed by the Redemption-Exchange Unitholder must be tendered in accordance with the procedures set out in Section 6.2. 6.1.3. Subject to the provisions of this Agreement, BREP BPY shall have the right (the “Exchange Right”), which shall be exercisable after presentation of the Redemption Notice in accordance with Section 6.2, to elect to acquire all (but not less than all) the Redemption-Exchange Units to be redeemed under the Redemption Notice in consideration for the Applicable Number of BREP BPY Units.

Redemption-Exchange Rights. 6.1.1. Subject to Section 6.1.3, the Redemption-Exchange Units entitle the a Redemption-Exchange Unitholder to redeem all or any portion of its Redemption-Exchange Units in accordance with this Article 6 at any time after the second anniversary of the Closing Date. 6.1.2. Subject to the provisions of this Agreement, a Redemption-Exchange Unitholder may require the Partnership to redeem all or any portion of the Redemption-Exchange Units (the “Redemption Right”) for an amount of cash equal to the Redemption Amount, provided that exercise of the Redemption Right or the payment of the Redemption Amount would not otherwise cause the Partnership to be in breach or violation of any agreement material to the Partnership or the BREP Group or applicable Law. Each Redemption-Exchange Unit to be redeemed by the Redemption-Exchange Unitholder must be tendered in accordance with the procedures set out in Section 6.2. 6.1.3. Subject to the provisions of this Agreement, BREP BBP shall have the right (the “Exchange Right”), which shall be exercisable after presentation of the Redemption Notice in accordance with Section 6.2, to elect to acquire all (but not less than all) the Redemption-Exchange Units to be redeemed under the Redemption Notice in consideration for the Applicable Number of BREP UnitsBBP Units issued to the Redemption-Exchange Unitholder.

Redemption-Exchange Rights. ‌ 6.1.1. Subject to Section 6.1.3, the Redemption-Exchange Units entitle the Redemption-Redemption- Exchange Unitholder to redeem all or any portion of its Redemption-Exchange Units in accordance with this Article 6 at any time after the second anniversary of the Closing Date. 6.1.2. Subject to the provisions of this Agreement, a Redemption-Exchange Unitholder may require the Partnership to redeem all or any portion of the Redemption-Exchange Units (the “Redemption Right”) for an amount of cash equal to the Redemption Amount, provided that exercise of the Redemption Right or the payment of the Redemption Amount would not otherwise cause the Partnership to be in breach or violation of any agreement material to the Partnership or the BREP BEP Group or applicable Law. Each Redemption-Exchange Unit to be redeemed by the Redemption-Exchange Unitholder must be tendered in accordance with the procedures set out in Section 6.2.6.2.‌ 6.1.3. Subject to the provisions of this Agreement, BREP BEP shall have the right (the “Exchange Right”), which shall be exercisable after presentation of the Redemption Notice in accordance with Section 6.2, to elect to acquire all (but not less than all) the Redemption-Redemption- Exchange Units to be redeemed under the Redemption Notice in consideration for the Applicable Number of BREP Units.BEP Units.‌

Redemption-Exchange Rights. 6.1.1. Subject to Section 6.1.3, the Redemption-Exchange Units entitle the Redemption-a Redemption- Exchange Unitholder to redeem all or any portion of its Redemption-Exchange Units in accordance with this Article 6 at any time after the second anniversary of the Closing Date. 6.1.2. Subject to the provisions of this Agreement, a Redemption-Exchange Unitholder may require the Partnership to redeem all or any portion of the Redemption-Exchange Units (the “Redemption Right”) for an amount of cash equal to the Redemption Amount, provided that exercise of the Redemption Right or the payment of the Redemption Amount would not otherwise cause the Partnership to be in breach or violation of any agreement material to the Partnership or the BREP Group or applicable Law. Each Redemption-Exchange Unit to be redeemed by the Redemption-Exchange Unitholder must be tendered in accordance with the procedures set out in Section 6.2. 6.1.3. Subject to the provisions of this Agreement, BREP BBP shall have the right (the “Exchange Right”), which shall be exercisable after presentation of the Redemption Notice in accordance with Section 6.2, to elect to acquire all (but not less than all) the Redemption-Redemption- Exchange Units to be redeemed under the Redemption Notice in consideration for the Applicable Number of BREP UnitsBBP Units issued to the Redemption-Exchange Unitholder.

Redemption-Exchange Rights. 6.1.1. Subject to Section 6.1.3, the Redemption-Exchange Units entitle the a Redemption-Exchange Unitholder to redeem all or any portion of its Redemption-Exchange Units in accordance with this Article 6 at any time after the second anniversary of the Closing Date. 6.1.2. Subject to the provisions of this Agreement, a Redemption-Exchange Unitholder may require the Partnership to redeem all or any portion of the Redemption-Exchange Units (the “Redemption Right”) for an amount of cash equal to the Redemption Amount, provided that exercise of the Redemption Right or the payment of the Redemption Amount would not otherwise cause the Partnership to be in breach or violation of any agreement material to the Partnership or the BREP Group or applicable Law. Each Redemption-Exchange Unit to be redeemed by the Redemption-Exchange Unitholder must be tendered in accordance with the procedures set out in Section 6.2. 6.1.3. Subject to the provisions of this Agreement, BREP BBP shall have the right (the “Exchange Right”), which shall be exercisable after presentation of the Redemption Notice in accordance with Section 6.2, to elect to acquire all (but not less than all) the Redemption-Exchange Units to be redeemed under the Redemption Notice in consideration for the Applicable Number of BREP BBP Units.

Redemption-Exchange Rights. 6.1.1. Subject to Section 6.1.3, the Redemption-Exchange Units entitle the Redemption-Exchange Unitholder to redeem all or any portion of its Redemption-Exchange Units in accordance with this Article 6 at any time after the second anniversary of the Closing Date. 6.1.2. Subject to the provisions of this Agreement, a Redemption-Exchange Unitholder may require the Partnership to redeem all or any portion of the Redemption-Exchange Units (the “Redemption Right”) for an amount of cash equal to the Redemption Amount, provided that exercise of the Redemption Right or the payment of the Redemption Amount would not otherwise cause the Partnership to be in breach or violation of any agreement material to the Partnership or the BREP BEP Group or applicable Law. Each Redemption-Exchange Unit to be redeemed by the Redemption-Exchange Unitholder must be tendered in accordance with the procedures set out in Section 6.2. 6.1.3. Subject to the provisions of this Agreement, BREP BEP shall have the right (the “Exchange Right”), which shall be exercisable after presentation of the Redemption Notice in accordance with Section 6.2, to elect to acquire all (but not less than all) the Redemption-Exchange Units to be redeemed under the Redemption Notice in consideration for the Applicable Number of BREP BEP Units.