Common use of Sales of Certain Properties by WHGP and Blackstone GP Clause in Contracts

Sales of Certain Properties by WHGP and Blackstone GP. (a) In the event that the Administering General Partner does not sell the ten (10) assets as set forth in Section 3.2(a)(19) within the time period contemplated by the initial Business Plan the WHGP and Blackstone GP, acting together as if such decision were a Majority Decision, may cause the Partnership to sell (or to enter into an agreement to sell) such assets during the immediately succeeding six (6) month period to parties that are not Affiliated with either the Whitehall Group or the Blackstone Group and in which neither the Whitehall Group nor the Blackstone Group have a continuing interest, PROVIDED that such sales would satisfy the requirements of Section 3.2 (a)(19) had the Administering General Partner effected such sales. (b) In the event that the Administering General Partner does not sell Properties in any calendar year for gross proceeds of at least $50,000,000 pursuant to Section 3.2(a)(20), during the six months following such calendar year, WHGP and Blackstone GP, acting together as if such decision were a Majority Decision, may cause the Partnership to sell Properties for an amount of gross proceeds equal to the lesser of (i) $50,000,000 or (ii) the excess of $100,000,000 over the gross proceeds received by the Partnership in respect of Property sales during the preceding calendar year pursuant to Section 3.2(a)(20); PROVIDED that such Property sales pursuant to this clause (b) would satisfy the requirements of Section 3.2(a)(20) had they been effected by the Administering General Partner.

Sales of Certain Properties by WHGP and Blackstone GP. (a) In the event that the Administering General Partner does not sell the ten (10) assets as set forth in Section 3.2(a)(19) within the time period contemplated by the initial Business Plan the WHGP and Blackstone GP, acting together as if such decision were a Majority Decision, may cause the Partnership to sell (or to enter into an agreement to sell) such assets during the immediately succeeding six (6) month period to parties that are not Affiliated with either the Whitehall Group or the Blackstone Group and in which neither the Whitehall Group nor the Blackstone Group have a continuing interest, PROVIDED provided that such sales would satisfy the requirements of Section 3.2 (a)(19) had the Administering General Partner effected such sales. (b) In the event that the Administering General Partner does not sell Properties in any calendar year for gross proceeds of at least $50,000,000 pursuant to Section 3.2(a)(20), during the six months following such calendar year, WHGP and Blackstone GP, acting together as if such decision were a Majority Decision, may cause the Partnership to sell Properties for an amount of gross proceeds equal to the lesser of (i) $50,000,000 or (ii) the excess of $100,000,000 over the gross proceeds received by the Partnership in respect of Property sales during the preceding calendar year pursuant to Section 3.2(a)(20); PROVIDED provided that such Property sales pursuant to this clause (b) would satisfy the requirements of Section 3.2(a)(20) had they been effected by the Administering General Partner.

Sales of Certain Properties by WHGP and Blackstone GP. (a) In the event that the Administering General Partner does not sell the ten (10) assets as set forth in Section 3.2(a)(19) within the time period contemplated by the initial Business Plan the WHGP and Blackstone GP, acting together as if such decision were a Majority Decision, may cause the Partnership to sell (or to enter into an agreement to sell) such assets during the immediately succeeding six (6) month period to parties that are not Affiliated with either the Whitehall Group or the Blackstone Group and in which neither the Whitehall Group nor the Blackstone Group have a continuing interest, PROVIDED provided that such sales would satisfy the requirements of Section 3.2 (a)(193.2(a)(19) had the Administering General Partner effected such sales. (b) In the event that the Administering General Partner does not sell Properties in any calendar year for gross proceeds of at least $50,000,000 pursuant to Section 3.2(a)(20), during the six months following such calendar year, WHGP and Blackstone GP, acting together as if such decision were a Majority Decision, may cause the Partnership to sell Properties for an amount of gross proceeds equal to the lesser of (i) $50,000,000 or (ii) the excess of $100,000,000 over the gross proceeds received by the Partnership in respect of Property sales during the preceding calendar year pursuant to Section 3.2(a)(20); PROVIDED provided that such Property sales pursuant to this clause (b) would satisfy the requirements of Section 3.2(a)(20) had they been effected by the Administering General Partner.