Common use of Rights Associated with OP Units Clause in Contracts

Rights Associated with OP Units. Pursuant to an amendment to the Agreement of Limited Partnership of the Optionee that the Optionee intends to execute in connection with the Public Offering and the proposed series of transactions relating to the Public Offering (the “Formation Transactions”), the OP Units will be redeemable or exchangeable for shares of the common stock of the Company (“Common Stock”) on the terms and conditions set forth therein. Such shares of Common Stock shall be entitled to registration rights substantially similar to the registration rights agreement to be entered into between the Optionee and the Optionor, among others, in connection with the Formation Transactions (other than with respect to underwritten demand registration rights, to which Optionor shall not be entitled hereunder, although OP Units issued pursuant to this Agreement may be included in any underwritten demand registration pursuant to such other registration rights agreement) and subject to any restrictions or agreements affecting such rights contained therein.