Common use of Conversion Provision Clause in Contracts

Conversion Provision. Notwithstanding anything to the contrary contained in the Partnership Agreement, in the event the Contributor chooses to request a Redemption (as defined in the Partnership Agreement) for the LP Units if they are properly Tendered Units (as defined in the Partnership Agreement) pursuant to Section 15.1(a) of the Partnership Agreement, the Acquiror agrees that Contributor shall have the option to either cause Acquiror to redeem any or all of such Tendered Units or to acquire the remaining Tendered Units in exchange for REIT Shares (as defined in the Partnership Agreement) pursuant to the terms of and subject to the limitations of Section 15.1(b) of the Partnership Agreement. The provisions of this Section 2.8 shall survive the Closing and shall not merge into the Partnership Agreement or into any of the conveyancing documents delivered at Closing. All capitalized terms used in this Section 2.8 shall, if not separately defined herein, have the meanings specified in the Partnership Agreement.