Common use of Exchange of Interests Clause in Contracts

Exchange of Interests. At the Effective Time: (a) Each unit of partnership interest in the CapStar Partnership held by the CapStar Partnership GP shall, by virtue of the Merger and without any action on the part of the holder thereof, be converted into and become 1.0 common unit of limited partnership interest in the Surviving Partnership; (b) Each common unit of limited partnership interest in the CapStar Partnership held by a limited partner in the CapStar Partnership other than the CapStar Partnership GP shall, by virtue of the Merger and without any action on the part of the holder thereof, be converted into and become