Common Redemption Amount definition

Common Redemption Amount means either the Cash Amount or the REIT Shares Amount, as selected by the General Partner pursuant to Section 8.04(b) hereof.
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Common Redemption Amount means either the Cash Amount or the REIT ▇▇▇▇▇▇ ▇▇▇▇▇▇, as selected by the General Partner pursuant to Section 8.04(b) hereof. “Common Unit” means a Partnership Unit which is designated as a Common Unit of the Partnership. “Common Unit Economic Balance” has the meaning set forth in Section 5.01(g)(iii) hereof. “Common Unit Redemption Right” has the meaning set forth in Section 8.04(a) hereof. “Common Unit Transaction” has the meaning set forth in Section 4.05(f) hereof. “Constituent Person” has the meaning set forth in Section 4.05(f) hereof. “Covered Limited Partner” has the meaning set forth in Section 8.05(a) hereof. “Conversion Date” has the meaning set forth in Section 4.05(b) hereof. “Conversion Factor” means a factor of 1.0, as such factor may be adjusted as provided in this definition and in Section 6.08. The Conversion Factor will be adjusted in the event that the General Partner (i) declares or pays a dividend on its outstanding REIT Shares in REIT Shares or makes a distribution to all holders of its outstanding REIT Shares in REIT Shares, (ii) subdivides its outstanding REIT Shares or (iii) combines its outstanding REIT Shares into a smaller number of REIT Shares. In each of such events, the Conversion Factor shall be adjusted by multiplying the Conversion Factor by a fraction, the numerator of which shall be the number of REIT Shares issued and outstanding on the record date for such dividend, distribution, subdivision or combination (assuming for such purposes that such dividend, distribution, subdivision or combination has occurred as of such time), and the denominator of which shall be the actual number of REIT Shares (determined without the above assumption) issued and outstanding on such
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Common Redemption Amount means the lesser of (a) the product of (i) five (5) times the Company's net income before interest, taxes, depreciation and amortization ("EBITDA") as determined by the Company's independent accountants for the Company's fiscal year ending closest to December 31, 2003 and (ii) the percentage of membership interest represented by the Common Interest or (b) Four Hundred Thirty-Two Thousand Eight Hundred Eighty-Three Dollars ($432,883). The redemption of the entire Common Interest shall be completed within five (5) business days of the exercise of such put or call right and shall be effected by execution and delivery by Wyndham and the Company of an Assignment and Acceptance of Membership Interests in the form attached hereto as Exhibit 6 and payment by the Company to Wyndham of the Common Redemption Amount. Immediately prior to the Common Redemption Date, the Company shall have the right to admit one of Northridge's Affiliates as a member of the Company on such terms as the Company and such Affiliate shall agree, as long as such admission is effectively conditioned (to the reasonable satisfaction of Wyndham) on the consummation of the redemption of the Common Interest by the Company. IHC and Northridge hereby agree and guaranty for the benefit of Wyndham that they shall cause capital contributions to be made to the Company in order to fund payment of the Common Redemption Amount, to the extent the Common Redemption Amount exceeds the amounts available from the Company's operating cash flow, and such obligation and guaranty of IHC and Northridge to cause such capital contributions to be made to the Company shall not be affected in any respect by an assignment of Northridge's membership interest in the Company to an affiliate as permitted under the Amended LLC Agreement. In connection with the redemption of the Common Interests, the Company and Wyndham shall cooperate in making any Hart-▇▇▇▇▇-▇▇▇▇▇▇ ▇▇▇ing, if any, as may be deemed necessary under the then applicable laws and regulations, and the Company and Wyndham shall each pay one-half (1/2) of any filing fees in connection therewith.
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Examples of Common Redemption Amount in a sentence

  • If, however, the Common Redemption Amount is less than the Withheld Amount, the Redeeming Limited Partner shall not receive any portion of the Common Redemption Amount, the Common Redemption Amount shall be treated as an amount received by such Partner in redemption of its Common Units, and the Partner shall contribute the excess of the Withheld Amount over the Common Redemption Amount to the Partnership before the Partnership is required to pay over such excess to a taxing authority.

  • If the Partnership or the General Partner is required to withhold and pay over to any taxing authority any amount upon a Redeeming Limited Partner’s exercise of the Common Unit Redemption Right and if the Common Redemption Amount equals or exceeds the Withheld Amount, the Withheld Amount shall be treated as an amount received by such Partner in redemption of its Common Units.

  • If the Partnership, Summit REIT or the General Partner is required to withhold and pay over to any taxing authority any amount upon a Redeeming Limited Partner’s exercise of the Common Unit Redemption Right and if the Common Redemption Amount equals or exceeds the Withheld Amount, the Withheld Amount shall be treated as an amount received by such Partner in redemption of its Common Units.

  • Each such OP Unit may be redeemed at the request of the holder thereof for the Common Redemption Amount (as defined in the Partnership Agreement) or, at the sole and absolute discretion of the REIT, purchased by the REIT for the Cash Amount or the REIT Shares Amount (as defined in the Partnership Agreement), as elected by the REIT, in each case subject to the terms and conditions of the Partnership Agreement.

  • If the Partnership or the General Partner is required to withhold and pay over to any taxing authority any amount upon a Redeeming Limited Partner’s exercise of the Redemption Right and if the Common Redemption Amount equals or exceeds the Withheld Amount, the Withheld Amount shall be treated as an amount received by such Partner in redemption of its Partnership Common Units.

  • If, however, the Common Redemption Amount is less than the Withheld Amount, the Redeeming Limited Partner shall not receive any portion of the Common Redemption Amount, the Common Redemption Amount shall be treated as an amount received by such Partner in redemption of its Partnership Common Units, and the Partner shall contribute the excess of the Withheld Amount over the Common Redemption Amount to the Partnership before the Partnership is required to pay over such excess to a taxing authority.

  • The redemption of the entire Common Interest shall be completed within five (5) business days of the exercise of such put or call right and shall be effected by execution and delivery by Wyndham and the Company of an Assignment and Acceptance of Membership Interests in the form attached hereto as Exhibit 6 and payment by the Company to Wyndham of the Common Redemption Amount.

  • All 15 newly hired employees shall be required to pay for their own medical 16 examinations.