Common use of Series D Preferred OP Units Clause in Contracts

Series D Preferred OP Units. All outstanding Series D Preferred OP Units have been duly authorized; all outstanding Series D Preferred OP Units are validly issued and will conform to the information in the Registration Statement, the General Disclosure Package and the Prospectus and to the description of such Series D Preferred OP Units contained therein; the holders of the outstanding OP Units have no preemptive rights with respect to the outstanding Series D Preferred OP Units; none of the outstanding Series D Preferred OP Units have been issued in violation of any preemptive or similar rights of any security holder; all outstanding Series D Preferred OP Units have been issued and sold in compliance with all applicable federal and state securities laws. Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, there are no outstanding (a) securities of the Operating Partnership reserved for any purpose, (b) securities or obligations of the Operating Partnership convertible into or exchangeable or redeemable for any partnership interests of the Operating Partnership, (c) warrants, rights or options to subscribe for or purchase from the Operating Partnership any such partnership interests or any such convertible or exchangeable securities or obligations or (d) obligations of the Operating Partnership to issue or sell any partnership interests, any such convertible or exchangeable securities or obligations, or any such warrants, rights or options. As of the First Closing Date there are 2,850,602 Series D Preferred OP Units outstanding, of which the Company owns, directly or indirectly, 100% of Series D Preferred OP Units.

Series D Preferred OP Units. All As of the date hereof, there are 4,000,000 authorized Series D Cumulative Convertible Preferred Units of the Operating Partnership (the “Series D Preferred OP Units”). As of the date hereof, there are 2,237,000 Series D Preferred OP Units outstanding. On or before the First Closing Date, the Amended and Restated Agreement of Limited Partnership of the Operating Partnership, as amended (the “OP Agreement”), shall authorize the issuance of a number of Series D Preferred OP Units that is at least equivalent to 2,237,000 plus the maximum number of Offered Shares that may be sold pursuant to this Agreement. Any amendment to the OP Agreement that is necessary to increase the number of authorized Series D Preferred OP Units pursuant to the immediately preceding sentence was or will be duly authorized by the Operating Partnership. The issuance to the Company of a number of Series D Preferred OP Units that is equivalent to the number of Offered Shares sold pursuant to this Agreement, in exchange for the Company’s contribution to the Operating Partnership of the net proceeds actually received by the Company upon the sale of the Offered Shares, has been duly authorized by the Operating Partnership and, upon such issuance, such number of Series D Preferred OP Units will be validly issued. There are no outstanding preemptive rights with respect to Series D Preferred OP Units. No Series D Preferred OP Units have been duly authorized; all outstanding Series D Preferred OP Units are validly issued and or will conform to the information in the Registration Statement, the General Disclosure Package and the Prospectus and to the description of such Series D Preferred OP Units contained therein; the holders of the outstanding OP Units have no preemptive rights with respect to the outstanding Series D Preferred OP Units; none of the outstanding Series D Preferred OP Units have been be issued in violation of any preemptive or similar rights of any security holder; all outstanding . All Series D Preferred OP Units have been and will be issued and sold transferred in compliance with all applicable federal and state securities laws. Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, there are no outstanding (a) securities of the Operating Partnership reserved for any purpose, (b) securities or obligations of the Operating Partnership convertible into or exchangeable or redeemable for any partnership interests of the Operating Partnership, (c) warrants, rights or options to subscribe for or purchase from the Operating Partnership any such partnership interests or any such convertible or exchangeable securities or obligations or (d) obligations of the Operating Partnership to issue or sell any partnership interests, any such convertible or exchangeable securities or obligations, or any such warrants, rights or options. As of At the First Closing Date Date, there are 2,850,602 will be 3,540,000 Series D Preferred OP Units outstandingoutstanding (assuming the Underwriters do not purchase any Optional Shares prior to the First Closing Date), of which the Company ownswill own, directly or indirectly, 100% of such Series D Preferred OP Units.

Series D Preferred OP Units. All outstanding The issuance of a number of OP Units to be designated as the Series D Cumulative Convertible Preferred Units (the “Series D Preferred OP Units”) pursuant to the amendment to the Amended and Restated Agreement of Limited Partnership of the Operating Partnership, to be dated on or before the First Closing Date, that is equivalent to the number of Offered Shares to be sold pursuant to this Agreement to the Company in exchange for the Company’s contribution of the net proceeds actually received by the Company upon the sale of the Offering Shares to the Operating Partnership has been duly authorized by the Operating Partnership and, upon such issuance, such number of Series D Preferred OP Units have been duly authorized; all will be validly issued. There are no outstanding Series D Preferred OP Units are validly issued and will conform to the information in the Registration Statement, the General Disclosure Package and the Prospectus and to the description of such Series D Preferred OP Units contained therein; the holders of the outstanding OP Units have no preemptive rights with respect to the outstanding Series D Preferred OP Units; none . None of the outstanding Series D Preferred OP Units have been will be issued in violation of any preemptive or similar rights of any security holder; all outstanding . All Series D Preferred OP Units have been and will be issued and sold transferred in compliance with all applicable federal and state securities laws. Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, there There are no outstanding (a) securities of the Operating Partnership reserved for any purpose, (b) securities or obligations of the Operating Partnership convertible into or exchangeable or redeemable for any partnership interests of the Operating Partnership, (c) warrants, rights or options to subscribe for or purchase from the Operating Partnership any such partnership interests or any such convertible or exchangeable securities or obligations or (d) obligations of the Operating Partnership to issue or sell any partnership interests, any such convertible or exchangeable securities or obligations, or any such warrants, rights or options. As of the First Closing Date there are 2,850,602 Series D Preferred OP Units outstanding, and at the First Closing Date there will be 1,600,000 Series D Preferred OP Units outstanding (assuming the Underwriters do not purchase the Optional Shares prior to the First Closing Date), of which the Company ownswill own, directly or indirectly, 100% of such Series D Preferred OP Units.

Series D Preferred OP Units. All As of the date hereof, there are 2,500,000 authorized Series D Cumulative Convertible Preferred Units of the Operating Partnership (the “Series D Preferred OP Units”). As of the date hereof, there are 1,600,000 Series D Preferred OP Units outstanding. On or before the First Closing Date, the Amended and Restated Agreement of Limited Partnership of the Operating Partnership, as amended (the “OP Agreement”), shall authorize the issuance of a number of Series D Preferred OP Units that is at least equivalent to 1,600,000 plus the maximum number of Offered Shares that may be sold pursuant to this Agreement. Any amendment to the OP Agreement that is necessary to increase the number of authorized Series D Preferred OP Units pursuant to the immediately preceding sentence was or will be duly authorized by the Operating Partnership. The issuance to the Company of a number of Series D Preferred Units that is equivalent to the number of Offered Shares sold pursuant to this Agreement, in exchange for the Company’s contribution to the Operating Partnership of the net proceeds actually received by the Company upon the sale of the Offered Shares, has been duly authorized by the Operating Partnership and, upon such issuance, such number of Series D Preferred OP Units will be validly issued. There are no outstanding preemptive rights with respect to Series D Preferred OP Units. No Series D Preferred OP Units have been duly authorized; all outstanding Series D Preferred OP Units are validly issued and or will conform to the information in the Registration Statement, the General Disclosure Package and the Prospectus and to the description of such Series D Preferred OP Units contained therein; the holders of the outstanding OP Units have no preemptive rights with respect to the outstanding Series D Preferred OP Units; none of the outstanding Series D Preferred OP Units have been be issued in violation of any preemptive or similar rights of any security holder; all outstanding . All Series D Preferred OP Units have been and will be issued and sold transferred in compliance with all applicable federal and state securities laws. Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, there are no outstanding (a) securities of the Operating Partnership reserved for any purpose, (b) securities or obligations of the Operating Partnership convertible into or exchangeable or redeemable for any partnership interests of the Operating Partnership, (c) warrants, rights or options to subscribe for or purchase from the Operating Partnership any such partnership interests or any such convertible or exchangeable securities or obligations or (d) obligations of the Operating Partnership to issue or sell any partnership interests, any such convertible or exchangeable securities or obligations, or any such warrants, rights or options. As of At the First Closing Date Date, there are 2,850,602 will be 2,237,000 Series D Preferred OP Units outstandingoutstanding (assuming the Underwriters do not purchase the Optional Shares prior to the First Closing Date), of which the Company ownswill own, directly or indirectly, 100% of such Series D Preferred OP Units.