Redeeming Partner definition
Examples of Redeeming Partner in a sentence
Unless the General Partner (in its sole and absolute discretion) shall exercise its right to purchase Common Units from the Redeeming Partner pursuant to this Section 9.4.2, the General Partner shall have no obligation to the Redeeming Partner or the Partnership with respect to the Redeeming Partner’s exercise of the Redemption Right.
The General Partner shall inform the Redeeming Partner whether it will deliver cash or REIT Shares on the Specified Redemption Date.
If the General Partner shall elect to exercise its right to purchase Common Units under this Section 9.4.2 with respect to the Redemption Notice, it shall so notify (the “Response Notice”) the Redeeming Partner within five business days after the receipt by the General Partner of such Redemption Notice.
Notwithstanding the above, in the event the General Partner will deliver REIT Shares it will indicate such election in the Response Notice and the Redeeming Partner shall have 30 days to irrevocably withdraw such redemption request.
The Redeeming Partner shall have no right, with respect to any Common Units so redeemed, to receive any distribution paid with respect to Common Units if the record date for such distribution is on or after the Specified Redemption Date.