Tendered Units definition
Examples of Tendered Units in a sentence
Notwithstanding the foregoing, the payment of any Cash Amount shall be subject to the Partnership’s right not to redeem all or a portion of any Tendered Units, in the General Partner’s sole discretion, pursuant to Section 8.5(d).
A Tendering Party shall be deemed to have offered to sell the Tendered Units described in the Notice of Redemption to the General Partner and to the REIT Limited Partner and either the General Partner or the REIT Limited Partner (or both) may, in its sole and absolute discretion, elect to purchase directly and acquire such Tendered Units by paying to the Tendering Party either the Cash Amount or the REIT Shares Amount.
Notwithstanding the foregoing, the General Partner shall redeem Tendered Units held by Brookfield, the Adviser, and their Affiliates regardless of its determination with respect to Tendered Units held by any other Tendering Party.
In the case of Tendered Units consisting of Class S-1 Units, Class D-1 Units or Class T-1 Units that initially were issued in exchange for DST Interests in connection with the exercise of the FMV Option, “REIT Shares Amount,” as used in the preceding sentence, shall mean a number of Class I REIT Shares equal to the product of the number of such Tendered Units and the applicable Conversion Rate.
Notwithstanding the foregoing, and other than as set forth below, the Partnership is not obligated to redeem any Tendered Units and may choose to redeem only some, or even none, of the Tendered Units in the General Partner’s sole discretion.