Common use of Limitations on Exchange Clause in Contracts

Limitations on Exchange. Notwithstanding anything to the contrary in this Section 30.8, the Partnership shall not be required to issue fractions of Common OP Units upon exchange of Series K Preferred Units. If any fraction of a Common OP Unit would be issuable upon exchange of Series K Preferred Units pursuant to this Section 30.8, the Partnership may, in lieu of delivering such fraction of a Common OP Unit, make a cash payment to the exchanging holder of Series K Preferred Units in an amount equal to the Common Stock Fair Market Value determined as of the Series K Exchange Date multiplied by such fraction of a Common OP Unit.

Limitations on Exchange. Notwithstanding anything to the contrary in this Section 30.831.8, the Partnership shall not be required to issue fractions of Common OP Units upon exchange of Series K L Preferred Units. If any fraction of a Common OP Unit would be issuable upon exchange of Series K L Preferred Units pursuant to this Section 30.831.8, the Partnership may, in lieu of delivering such fraction of a Common OP Unit, make a cash payment to the exchanging holder of Series K L Preferred Units in an amount equal to the Common Stock Fair Market Value determined as of the Series K L Exchange Date multiplied by such fraction of a Common OP Unit.