Common use of Proposed Distributions Clause in Contracts

Proposed Distributions. For the first fiscal year (or other period over which distributions are paid) of the Operating Partnership ending after the date of Closing, partnership distributions, if any, attributable to such year (or other period) payable by the Operating Partnership to Contributor pursuant to Paragraph 5.1 of the Operating Partnership Agreement shall be prorated to take into account the period of time during such year (or other period) that the Contributor or its successors in interest to the Units is a limited partner in the Operating Partnership. The Contributor shall receive, contemporaneously with receipt by the other limited partners in the Operating Partnership of their respective distributions for such year (or other period), that portion of a full distribution otherwise attributable to its Units determined by multiplying the amount of such full distribution by a fraction the numerator of which is the number of days during such year (or other period) that the Contributor is a limited partner in the Operating Partnership and the denominator of which is the number of days in such year (or other period). In the event that the Contributor receives a full cash distribution for such period, it shall reimburse the Operating Partnership the prorated portion of such distribution within five (5) days of receipt.