Common use of Redemption of Special Partnership Units Upon Termination or Nonrenewal of Advisory Agreement for Cause Clause in Contracts

Redemption of Special Partnership Units Upon Termination or Nonrenewal of Advisory Agreement for Cause. If the Advisory Agreement is terminated or not renewed by the General Partner for “cause” (as defined in the Advisory Agreement), the Partnership may redeem all of the Special Partnership Units for $1, effective as of the date of the termination or nonrenewal of the Advisory Agreement.

Appears in 2 contracts

Samples: Wells Timberland REIT, Inc., Wells Timberland REIT, Inc.

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Redemption of Special Partnership Units Upon Termination or Nonrenewal of Advisory Agreement for Cause. If the Advisory Agreement is terminated or not renewed by the General Partner for "cause" (as defined in the Advisory Agreement), the Partnership may redeem all of the Special Partnership Units shall be redeemed by the Partnership for $1, effective as of the date of the termination or nonrenewal of the Advisory Agreement.

Appears in 1 contract

Samples: Wells Timber Real Estate Investment Trust, Inc.

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Redemption of Special Partnership Units Upon Termination or Nonrenewal of Advisory Agreement for Cause. If the Advisory Agreement is terminated or not renewed by the General Partner for “cause” (as defined in the Advisory Agreement), the Partnership may redeem all of the Special Partnership Units shall be redeemed by the Partnership for $1, effective as of the date of the termination or nonrenewal of the Advisory Agreement.

Appears in 1 contract

Samples: Wells Timber Real Estate Investment Trust, Inc.

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