Common use of Consideration for the Formation Transaction Clause in Contracts

Consideration for the Formation Transaction. Upon the Closing, ▇▇▇▇▇▇, in exchange for the ▇▇▇▇▇▇ Interests, shall receive from the Operating Partnership (i) Twenty-Six Million Seven Hundred Thirty-One Thousand Dollars ($26,731,000), (ii) 266,666.67 limited partnership units in the Operating Partnership and (iii) satisfaction of indebtedness with respect to the Ground Leases (as defined herein) owned by the ▇▇▇▇▇▇ Entities and/or the Student Housing Entities personally guaranteed by ▇▇▇▇▇▇ in no less than the amount of Twelve Million Five Hundred Nine Thousand Five Hundred Dollars ($12,509,500) (collectively, the consideration in this Section 1.3(i)-(iii), inclusive shall herein be referred to as the “▇▇▇▇▇▇ Consideration”).