ISSUANCE OF OP UNITS. The Operating Partnership shall, in exchange for the Cash Consideration contributed by the Advisor, issue to the Advisor a number of OP Units equal to 83,333, with an aggregate value equivalent to the Cash Consideration. No fractional OP Units shall be issued pursuant to this Agreement. The ownership of such OP Units by the Advisor shall be reflected in the Amended Partnership Agreement.
Appears in 2 contracts
Sources: Contribution and Exchange Agreement (Global Net Lease, Inc.), Contribution and Exchange Agreement (New York REIT, Inc.)