Completion of Conversion. A conversion of Class O LTIP Units for which the holder thereof has given a Class O LTIP Unit Conversion Notice or the Partnership has given a Class O LTIP Unit Mandatory Conversion Notice shall occur automatically after the close of business on the applicable Class O LTIP Unit Conversion Date without any action on the part of the holder of Class O LTIP Units, as of which time the holder shall be credited on the books and records of the Partnership with the issuance as of the opening of business on the next day of the number of Class A Units issuable upon such conversion. After the conversion of Class O LTIP Units as aforesaid, the Partnership shall deliver to the holder of Class O LTIP Units, upon its written request, a certificate of the General Partner certifying the number of Class A Units and remaining Class O LTIP Units, if any, held by the holder immediately after such conversion.
Appears in 2 contracts
Sources: Limited Partnership Agreement (QTS Realty Trust, Inc.), Agreement of Limited Partnership (QTS Realty Trust, Inc.)