Second FFO Threshold Clause Samples
Second FFO Threshold. If the FFO Increase for the Interim Measurement Date equals or exceeds the Second FFO Threshold, but is less than the Target FFO, a Redemption Event will occur and 55% (or such other percentage as determined by the Committee prior to the Plan Year in which the Employee first becomes a Participant in the Plan) of the Units subject to the Participant’s Target Unit will be redeemed, plus an additional 1.5% will be redeemed for each 1% that the FFO Increase for such Interim Measurement Date exceeds the Second FFO Threshold, in accordance with Section 8.2. For any subsequent Interim Measurement Date, an additional 1.5% of the Participant’s Target Unit will be redeemed in accordance with Section 8.2 for each 1% that the FFO Increase for such Interim Measurement Date exceeds the highest FFO Increase for any prior Interim Measurement Date. Redemptions in accordance with the immediately preceding sentence shall continue until the FFO Increase for any Interim Measurement Date equals or exceeds the Target FFO. In such an event, no further redemptions shall be made pursuant to this Section 7.2.3. Redemption pursuant to this Section 7.2.3 is cumulative so that if the requirements of Section 7.2.2 are met on a previous Interim Measurement Date the portion of the Participant’s Target Unit that will be redeemed as a result of this Section 7.2.3 shall be aggregated with any prior redemptions of the Participant’s Target Unit.
Second FFO Threshold. Unless the Committee determines otherwise with respect to any Participant in the Plan prior to the Plan Year in which such Participant first is designated as a Participant in the Plan, the Second FFO Threshold shall be equal to an increase of FFO of 70%.
Second FFO Threshold. If the Final FFO is less than the Target FFO, but equal to or greater than the Second FFO Threshold, a Redemption Event will occur and 55% (or such other percentage as determined by the Committee prior to the Plan Year in which the Employee first becomes a Participant in the Plan) of the Units subject to the Participant’s Target Unit will be redeemed, plus an additional 1.5% will be redeemed for each 1% that the Final FFO exceeds the Second FFO Threshold, in accordance with Section 8.1.