ISSUANCE OF OP UNITS. Upon exercise of its participation rights under this Section 4.1 by Buyer in connection with the issuance by the Company of OP Units, Buyer shall have the right to purchase, and, upon such exercise, the Company will be required to issue to Buyer, the number of shares of Company Common Stock equal to the number of OP Units Buyer is entitled to purchase under Section 4.1(a) hereof. Such shares of Company Common Stock shall be issued by the Company in lieu of such number of OP Units Buyer would otherwise be entitled to purchase under Section 4.1(a) hereof.
Appears in 3 contracts
Sources: Stockholders Agreement (Fac Realty Trust Inc), Stock Purchase Agreement (Prometheus Southeast Retail LLC), Stockholders Agreement (Prometheus Southeast Retail LLC)