Common use of Catch-Up Provision Clause in Contracts

Catch-Up Provision. If the Target EBITDA is not met in a given Fiscal Year (each such year, a “Missed Year”), the unvested portion of the Ordinary Performance Units eligible to vest in the Missed Year (the “Missed Units”) will remain eligible to vest in one or more subsequent Fiscal Years, as described in this Section (2)(b)(i)(D). If the vested portion of the Ordinary Performance Units in a Fiscal Year (including the portion of the Fiscal Year during which the Sale of the Partnership occurs) following any Missed Year exceeds the vested portion of the Ordinary Performance Units in any prior Missed Year(s) (such subsequent year, a “Made Year”), the Missed Units will vest such that the total vested percentage of Ordinary Performance Units attributable to the Missed Year shall equal the vested percentage of Ordinary Performance Units attributable to the Made Year. By way of example, if 12.5% of the Ordinary Performance Units vest in the year ending December 31, 2018 and 25% of the Ordinary Performance Units vest in the year ending December 31, 2019, the Ordinary Performance Units attributable to the December 31, 2018 year will be fully vested.