Exchange Units. The aggregate consideration to be transferred to Contributors in exchange for the Units shall be transferred to Contributors via the issuance to Contributors of units of non-managing member interest in the Company (the "EXCHANGE UNITS") in proportion to Contributors' relative entitlement to distributions under the LLC's operating agreement in effect
Appears in 2 contracts
Sources: Contribution Agreement (Pan Pacific Retail Properties Inc), Contribution Agreement (Pan Pacific Retail Properties Inc)