Timing and Form of Distribution. The Units shall be exchanged into shares of Common Stock on a one-for-one basis and shall be distributed to the Director at such time as the Director may have previously elected in writing to the Company. Any fractional Unit shall be distributed in cash at the same time.
Appears in 4 contracts
Samples: Restricted Unit Agreement (Avalonbay Communities Inc), Restricted Unit Agreement (Avalonbay Communities Inc), Agreement (Avalonbay Communities Inc)
