Award LTIP Units definition

Award LTIP Units has the meaning set forth in Section 3.

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Award LTIP Units means the number of LTIP Units issued pursuant to an Award Agreement and does not include the Earned LTIP Units or Vested LTIP Units that the Award LTIP Units may become.

Award LTIP Units has the meaning set forth in the Recitals.

Examples of Award LTIP Units in a sentence

If the number of Earned LTIP Units is smaller than the number of Award LTIP Units on the Valuation Date, then the Grantee, as of the Valuation Date, shall forfeit a number of Award LTIP Units equal to the difference, without payment of any consideration by the Partnership other than as provided in the last sentence of Section 5.
Grantee hereby agrees that the Award LTIP Units which are awarded under the terms of this Agreement, and which may become Earned LTIP Units and Vested LTIP Units hereunder are and shall remain subject to the Clawback Policy, as the same may be hereafter amended, modified or supplemented with the approval of the Committee, in its sole and absolute discretion.
Award LTIP Units may become Earned LTIP Units and Earned LTIP Units may become Vested LTIP Units in the amounts and upon the conditions set forth in this Section 3 and in Section 4, so long as the Continuous Service of the Grantee continues through the Scheduled Vesting Date, unless otherwise expressly set forth in this Agreement with respect to a Qualified Termination or Change of Control, or as determined by the Committee, in its sole and absolute discretion, as provided in Section 4(f).
Award LTIP Units constitute and shall be treated for all purposes as the property of the Grantee, subject to the terms of this Agreement and the Partnership Agreement.
If a Change of Control occurs, Section 4(d) shall govern the treatment of the Grantee’s Award LTIP Units exclusively, notwithstanding the provisions of the Plan.

More Definitions of Award LTIP Units

Award LTIP Units means the number of LTIP Units granted by this Agreement, the number of which granted is set forth on Schedule A.

Award LTIP Units means a series of LTIP Units established by the Operating Company, with the rights, privileges, and preferences set forth in the designations thereof included in an amendment to the LLC Agreement that may be adopted hereafter by the Managing Member of the Operating Company in accordance with Section 8(a), which designations shall be in the form set forth on Exhibit A attached hereto.

Award LTIP Units means the number of LTIP Units granted under this Agreement, as set forth on Schedule A.

Award LTIP Units has the meaning set forth in the Recitals, which, for the avoidance of doubt, will initially equal the Maximum Amount.

Award LTIP Units means the Award LTIP Tranche A Units, the Award LTIP Tranche B Units, or both of the foregoing together, as the context may require.

Award LTIP Units means the number of LTIP Units issued pursuant to an Award Agreement and does not include the Earned LTIP

Award LTIP Units means the LTIP Units granted by the Committee to the Grantee on .