Common use of Restricted Stock Granted to Persons other than Company Employees Clause in Contracts

Restricted Stock Granted to Persons other than Company Employees. If at any time or from time to time, in connection with any Equity Plan (other than a Stock Incentive Plan), any REIT Shares are issued to a Person other than a Company Employee in consideration for services performed for CLNS Credit, the Company or a Company Subsidiary: (1) CLNS Credit shall issue such number of REIT Shares as are to be issued to such Person in accordance with the Equity Plan; and (2) CLNS Credit shall be deemed to have contributed the Value of such REIT Shares to the Company as a Capital Contribution, and the Company shall issue to CLNS Credit a number of newly issued Membership Common Units equal to the number of newly issued REIT Shares, divided by the Adjustment Factor then in effect.

Restricted Stock Granted to Persons other than Company Employees. If at any time or from time to time, in connection with any Equity Plan (other than a Stock Incentive Plan), any REIT Shares shares are issued to a Person other than a Company Employee in consideration for services performed for CLNS CreditCLNS, the Company or a Company Subsidiary: (1) CLNS Credit shall issue such number of REIT Shares as are to be issued to such Person in accordance with the Equity Plan; and (2) CLNS Credit shall be deemed to have contributed the Value of such REIT Shares to the Company as a Capital Contribution, and the Company shall issue to CLNS Credit a number of newly issued Membership Common Units equal to the number of newly issued REIT Shares, divided by the Adjustment Factor then in effect.

Restricted Stock Granted to Persons other than Company Employees. If at any time or from time to time, in connection with any Equity Plan (other than a Stock Incentive Option Plan), any REIT Shares shares are issued to a Person other than a Company Employee in consideration for services performed for CLNS CreditCLNY, the Company or a Company Subsidiary: (1) CLNS Credit CLNY shall issue such number of REIT Shares as are to be issued to such Person in accordance with the Equity Plan; and (2) CLNS Credit CLNY shall be deemed to have contributed the Value of such REIT Shares to the Company as a Capital Contribution, and the Company shall issue to CLNS Credit CLNY a number of newly issued Membership Common Units equal to the number of newly issued REIT Shares, divided by the Adjustment Factor then in effect.