Common use of Right of Optional Redemption Clause in Contracts

Right of Optional Redemption. The ------------------- ---------------------------- Series H Preferred Units may not be redeemed prior to the fifth (5th) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) nor more than sixty (60) days' written notice, at a redemption price, payable in cash, equal to the Capital Account balance of the holders of Series H Preferred Units (the "Redemption Price"); provided, however, ---------------- that no redemption pursuant to this Section 5 will be permitted if the Redemption Price does not equal or exceed the original Capital Contribution of such holder plus the cumulative Priority Return, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a). If fewer than all of the outstanding Series H Preferred Units are to be redeemed, the Series H Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional units).

Appears in 3 contracts

Samples: Agreement (Cabot Industrial Properties Lp), Agreement (Cabot Industrial Properties Lp), Cabot Industrial Trust

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Right of Optional Redemption. The ------------------- ---------------------------- Series H G Preferred Units may not be redeemed prior to the fifth (5th) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H G Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) nor more than sixty (60) days' written notice, at a redemption price, payable in cash, equal to the Capital Account balance of the holders of Series H G Preferred Units (the "Redemption Price"); provided, however, ---------------- that no redemption pursuant to this ---------------- Section 5 will be permitted if the Redemption Price does not equal or exceed the original Capital Contribution of such holder plus the cumulative Priority Return, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a). If fewer than all of the outstanding Series H G Preferred Units are to be redeemed, the Series H G Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional units).

Appears in 3 contracts

Samples: Agreement (Cabot Industrial Properties Lp), Agreement (Cabot Industrial Properties Lp), Cabot Industrial Trust

Right of Optional Redemption. The ------------------- ---------------------------- (i) Except as otherwise expressly provided in this Section 6, the Series H C Preferred Units may not be redeemed prior to the fifth (5th) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H C Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) nor more than sixty (60) days' written notice, at a redemption priceprice (the "Series C Redemption Price"), payable in cash, equal to the Capital Account balance of the holders such holder of Series H C Preferred Units (the "Redemption Price")attributable to such redeemed Units; provided, however, ---------------- that no redemption pursuant to this Section 5 6 will be permitted if the Series C Redemption Price does not equal or exceed the original Capital Contribution of with respect to such holder Units plus the cumulative Priority ReturnReturn thereon, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a)distributed. If fewer than all of the outstanding Series H C Preferred Units are to be redeemed, the Series H C Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional unitsPartnership Units).

Appears in 2 contracts

Samples: Summit Properties Partnership L P, Summit Properties Partnership L P

Right of Optional Redemption. The ------------------- ---------------------------- (i) Except as otherwise expressly provided in this Section 6, the Series H B Preferred Units may not be redeemed prior to the fifth (5th) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H B Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) nor more than sixty (60) days' written notice, at a redemption priceprice (the "Series B Redemption Price"), payable in cashcash (or cash and such number of shares of Series B Preferred Stock to which a Partner holding such Series B Preferred Units being redeemed for other than cash would be entitled if redeemed at the Series B Exchange Price then in effect pursuant to Section 9 hereof), equal to the Capital Account balance of the holders such holder of Series H B Preferred Units (the "Redemption Price")attributable to such redeemed Units; provided, however, ---------------- that no redemption pursuant to this Section 5 6 will be permitted if the Series B Redemption Price does not equal or exceed the original Capital Contribution of with respect to such holder Units plus the cumulative Priority ReturnReturn thereon, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a)distributed. If fewer than all of the outstanding Series H B Preferred Units are to be redeemed, the Series H B Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional unitsPartnership Units).

Appears in 2 contracts

Samples: Summit Properties Partnership L P, Summit Properties Partnership L P

Right of Optional Redemption. The ------------------- ---------------------------- Series H C Preferred Units may not be redeemed prior to the fifth (5th5/th/) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H C Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) 30 nor more than sixty (60) 60 days' written notice, at a redemption priceprice (the "Series C Redemption Price"), ------------------------- payable in cashcash (or such number of Series C Preferred Shares to which the holders of the Series C Preferred Units would be entitled upon an exchange of the Series C Preferred Units in accordance with Section 9 of this Amendment to the extent all such redeemed Series C Preferred Units would be exchangeable for Series C Preferred Shares pursuant to Section 9 of this Amendment), equal to the Capital Account balance of the holders holder of Series H C Preferred Units (the "Redemption Price")Units; provided, however, ---------------- that no redemption pursuant to this Section 5 6 will be permitted if the Redemption Price does not equal or exceed the original Capital Contribution of such holder plus the cumulative Priority Return, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a)distributed. If fewer than all of the outstanding Series H C Preferred Units are to be redeemed, the Series H C Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional unitsUnits).

Appears in 1 contract

Samples: Bradley Operating L P

Right of Optional Redemption. The ------------------- ---------------------------- Series H C Preferred Units may not be redeemed prior to the fifth (5th) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H C Preferred Units, in whole or in part, at any time or from time to timetime out of funds legally available therefor, upon not less than thirty (30) 30 nor more than sixty (60) 60 days' written notice, at a redemption price, payable in cash, equal to the Capital Account balance (or, if not redeemed in full, the applicable portion thereof) of the holders holder of the Series H C Preferred Units (the "Redemption Price"); provided, however, ---------------- that no redemption pursuant to this ----------------- Section 5 will be permitted if the Redemption Price does not equal or exceed the original Capital Contribution (or, if not redeemed in full, the applicable portion thereof) per unit of such holder Series C Preferred Units, plus the cumulative Priority Returnaccumulated and unpaid distributions, whether or not declared, to the date of redemption date to the extent such distributions are not previously distributed pursuant to Section 3(a)reflected in the Capital Account balance as of the date of redemption. If fewer than all of the outstanding Series H C Preferred Units are to be redeemed, the Series H C Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional units).

Appears in 1 contract

Samples: Prentiss Properties Trust/Md

Right of Optional Redemption. The ------------------- ---------------------------- Series H B Preferred Units may not be redeemed prior to the fifth (5th) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H B Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) 30 nor more than sixty (60) 60 days' written notice, at a redemption price, payable in cash, equal to the Capital Account balance of the holders holder of Series H A Preferred Units (the "Redemption PriceSERIES B REDEMPTION PRICE")) or, if greater, the original Capital Contribution of such holder plus the current Series B Priority Return, whether or not declared to the relevant date, to the extent not previously distributed; providedPROVIDED, howeverHOWEVER, ---------------- that no redemption pursuant to this Section 5 16.6 will be permitted if the Series B Redemption Price does not equal or exceed the original Capital Contribution of such holder plus the cumulative Series B Priority Return, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a)distributed. If fewer than all of the outstanding Series H B Preferred Units are to be redeemed, the Series H B Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional units).

Appears in 1 contract

Samples: Camden Property Trust

Right of Optional Redemption. The ------------------- ---------------------------- Series H D Preferred Units ---------------------------- may not be redeemed prior to the fifth (5th) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H D Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) nor more than sixty (60) days' days written notice, at a redemption price, payable in cash, equal to the Capital Account balance of the holders Holders of Series H D Preferred Units (the "Series D Redemption Price"); provided, however, ---------------- ------------------------- -------- ------- that no redemption pursuant to this Section 5 19.6 will be permitted if the Series D Redemption Price does not equal or exceed the original Capital Contribution of such holder Holder plus the cumulative Series D Priority Return, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a)distributed. If fewer than all of the outstanding Series H D Preferred Units are to be redeemed, the Series H D Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional units).

Appears in 1 contract

Samples: Kilroy Realty Corp

Right of Optional Redemption. The ------------------- ---------------------------- Series H C Preferred Units ---------------------------- may not be redeemed prior to the fifth (5th) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H C Preferred Units, in whole or in part, at any time or from time to timetime out of funds legally available therefor, upon not less than thirty (30) 30 nor more than sixty (60) 60 days' written notice, at a redemption price, payable in cash, equal to the Capital Account balance (or, if not redeemed in full, the applicable portion thereof) of the holders holder of the Series H C Preferred Units (the "Redemption Price"); provided, however, ---------------- that no redemption pursuant to -------- ------- this Section 5 4.02(e)(v) will be permitted if the Redemption Price does not equal or exceed the original Capital Contribution (or, if not redeemed in full, the applicable portion thereof) per unit of such holder Series C Preferred Units, plus the cumulative Priority Returnaccumulated and unpaid distributions, whether or not declared, to the date of redemption date to the extent such distributions are not previously distributed pursuant to Section 3(a)reflected in the Capital Account balance as of the date of redemption. If fewer than all of the outstanding Series H C Preferred Units are to be redeemed, the Series H C Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional units).

Appears in 1 contract

Samples: Prentiss Properties Trust/Md

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Right of Optional Redemption. The ------------------- ---------------------------- Series H B Preferred Units may not be redeemed prior to the fifth (5th) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H B Preferred Units, in whole or in part, at any time or from time to timetime out of funds legally available therefor, upon not less than thirty (30) 30 nor more than sixty (60) 60 days' written notice, at a redemption price, payable in cash, equal to the Capital Account balance (or, if not redeemed in full, the applicable portion thereof) of the holders holder of the Series H B Preferred Units (the "Redemption PriceREDEMPTION PRICE"); provided, however, ---------------- that no redemption pursuant to this Section 5 will be permitted if the Redemption Price does not equal or exceed the original Capital Contribution (or, if not redeemed in full, the applicable portion thereof) per unit of such holder Series B Preferred Units, plus the cumulative Priority Returnaccumulated and unpaid distributions, whether or not declared, to the date of redemption date to the extent such distributions are not previously distributed pursuant to Section 3(a)reflected in the Capital Account balance as of the date of redemption. If fewer than all of the outstanding Series H B Preferred Units are to be redeemed, the Series H B Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional units).

Appears in 1 contract

Samples: Prentiss Properties Trust/Md

Right of Optional Redemption. The ------------------- ---------------------------- Series H G Preferred Units may not be redeemed prior to the fifth (5th) anniversary of the issuance dateApril 20, 2003. On or after such date, the Partnership shall have the right to redeem the Series H G Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) 30 nor more than sixty (60) 60 days' written notice, at a redemption price, payable in cash, equal to the Capital Account balance of the holders of Series H G Preferred Units (the "“Series G Redemption Price"); provided, however, ---------------- that no redemption pursuant to this Section 5 8 will be permitted if the Series G Redemption Price does not equal or exceed the original Capital Contribution of such holder Series G Preferred Unit Issue Price plus the cumulative Priority Series G Preferred Return, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a)distributed. If fewer than all of the outstanding Series H G Preferred Units are to be redeemed, the Series H G Preferred Units to be redeemed shall be selected pro rata (based on the percentage of the aggregate number of Series G Preferred Units that the total number of Series G Preferred Units held by a holder represents) (as nearly as practicable without creating fractional units).

Appears in 1 contract

Samples: Guaranty Agreement (Equity Office Properties Trust)

Right of Optional Redemption. The ------------------- ---------------------------- Series H B Preferred Units may not be redeemed prior to the fifth (5th5/th/) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H B Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) 30 nor more than sixty (60) 60 days' written notice, at a redemption priceprice (the "SERIES B REDEMPTION PRICE"), payable in cashcash (or such number of Series B Preferred Shares to which the holders of the Series B Preferred Units would be entitled upon an exchange of the Series B Preferred Units in accordance with Section 9 of this Amendment to the extent all such redeemed Series B Preferred Units would be exchangeable for Series B Preferred Shares pursuant to Section 9 of this Amendment), equal to the Capital Account balance of the holders holder of Series H B Preferred Units (the "Redemption Price")Units; provided, however, ---------------- that no redemption pursuant to this Section 5 SECTION 6 will be permitted if the Redemption Price does not equal or exceed the original Capital Contribution of such holder plus the cumulative Priority Return, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a)distributed. If fewer than all of the outstanding Series H B Preferred Units are to be redeemed, the Series H B Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional unitsUnits).

Appears in 1 contract

Samples: Heritage Property Investment Trust Inc

Right of Optional Redemption. The ------------------- ---------------------------- Series H B Preferred Units may not be redeemed prior to the fifth (5th5/th/) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H B Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) 30 nor more than sixty (60) 60 days' written notice, at a redemption priceprice (the "SERIES B REDEMPTION PRICE"), payable ------------------------- in cashcash (or such number of Series B Preferred Shares to which the holders of the Series B Preferred Units would be entitled upon an exchange of the Series B Preferred Units in accordance with Section 9 of this Amendment to the extent all such redeemed Series B Preferred Units would be exchangeable for Series B Preferred Shares pursuant to Section 9 of this Amendment), equal to the Capital Account balance of the holders holder of Series H B Preferred Units (the "Redemption Price")Units; provided, however, ---------------- that no redemption pursuant to this Section 5 SECTION 6 will be permitted if the Redemption Price does not equal or exceed the original Capital Contribution of such holder plus the cumulative Priority Return, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a)distributed. If fewer than all of the outstanding Series H B Preferred Units are to be redeemed, the Series H B Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional unitsUnits).

Appears in 1 contract

Samples: Bradley Operating L P

Right of Optional Redemption. The ------------------- ---------------------------- Series H C Preferred Units may not be redeemed prior to the fifth (5th) anniversary of the issuance date. On or after such date, the Partnership shall have the right to redeem the Series H C Preferred Units, in whole or in part, at any time or from time to time, upon not less than thirty (30) 30 nor more than sixty (60) days' 60 days written notice, at a redemption price, payable in cash, equal to the Capital Account balance of the holders holder of Series H C Preferred Units (the "Redemption PriceSERIES C REDEMPTION PRICE")) or, if greater, the original Capital Contribution of such holder plus the current Series C Priority Return, whether or not declared to the relevant date, to the extent not previously distributed; providedPROVIDED, howeverHOWEVER, ---------------- that no redemption pursuant to this Section 5 17.6 will be permitted if the Series C Redemption Price does not equal or exceed the original Capital Contribution of such holder plus the cumulative Series C Priority Return, whether or not declared, to the redemption date to the extent not previously distributed pursuant to Section 3(a)distributed. If fewer than all of the outstanding Series H C Preferred Units are to be redeemed, the Series H C Preferred Units to be redeemed shall be selected pro rata (as nearly as practicable without creating fractional units).

Appears in 1 contract

Samples: Camden Property Trust

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