Common use of Status of Award LTIP Units under the Plan Clause in Contracts

Status of Award LTIP Units under the Plan. The Award LTIP Units are issued as equity securities of the Partnership and granted as “Other Stock-Based Awards” under the Plan. Subject to certain limitations set forth in the LP Agreement, the LTIP Units are convertible into Common Partnership Units (as defined in the LP Agreement), and after any such conversion, the Common Partnership Units are subject to the redemption rights set forth in the LP Agreement. In lieu of a cash redemption, the GP, at the direction of the Company, will have the right at its option to issue Common Stock in exchange for such Common Partnership Units, subject to certain limitations set forth in the LP Agreement, and such Common Stock, if issued, will be issued under the Plan. The Grantee acknowledges that the Grantee will have no right to approve or disapprove such election by the GP.

Status of Award LTIP Units under the Plan. The Award LTIP Units are issued as equity securities of the Partnership Holdings and granted as “Other Stock-Based Awards” under the Plan. Subject to certain limitations set forth in the LP LLC Agreement, the Class 2 LTIP Units are convertible into Common Partnership Units (as defined in the LP LLC Agreement), and after any such conversion, the Common Partnership Units are subject to the redemption rights set forth in the LP LLC Agreement. In lieu of a cash redemption, the GP, at the direction of the Company, Company will have the right at its option to issue Common Stock in exchange for such Common Partnership Units, subject to certain limitations set forth in the LP LLC Agreement, and such Common Stock, if issued, will be issued under the Plan. The Grantee acknowledges that the Grantee will have no right to approve or disapprove such election by the GPCompany.

Status of Award LTIP Units under the Plan. The Award LTIP Units are issued as equity securities of the Partnership AHH and granted as “Other Stock-Based Awards” under the Plan. Subject to certain limitations set forth in the LP LLC Agreement, the LTIP Units are convertible into Common Partnership Units (as defined in the LP LLC Agreement), and after any such conversion, the Common Partnership Units are subject to the redemption rights set forth in the LP LLC Agreement. In lieu of a cash redemption, the GPAHH, at the direction of the Company, will have the right at its option to issue Common Stock in exchange for such Common Partnership Units, subject to certain limitations set forth in the LP LLC Agreement, and such Common Stock, if issued, will be issued under the Plan. The Grantee acknowledges that the Grantee will have no right to approve or disapprove such election by the GPAHH.