Equivalent Units definition

Equivalent Units means Units with preferences, conversion and other rights (other than voting rights), restrictions, limitations as to dividends and other distributions, qualifications, terms and conditions of redemption (the “Terms”) that are (a) relative to the Common Units and the other classes and series of Units that correspond to classes and series of Capital Stock, and (b) substantially the same as (or corresponding to) the Terms that any new Capital Stock or New Securities have relative to the Common Stock and other classes and series of Capital Stock or New Securities. The foregoing shall not apply to matters such as voting for members of the Board of Directors that are not applicable to the Company. In comparing the economic rights of any Preferred Stock with the economic rights of any Units, the effect of taxes may be taken into account.

Equivalent Units means a number or ratio used to covert unit counts and square footages for different types of land uses. This number or ratio is derived from a method intended to proportionally assess the impacts associated with different types of development and uses. Equivalent Units shall be calculated in accordance with Table 2 set forth in Subsection 2.2.

Equivalent Units means the number of limited partnership units of Brandywine Operating Partnership which are convertible, at the time of issuance, into that number of common shares of beneficial interest of Brandywine Realty Trust having an aggregate Market Value (as defined below) equal to the Contributing Partners' Proportionate Share of Fair Market Value of the Project as of the date which is three (3) days prior to the scheduled Closing Date. If there are more than one class of interest in Brandywine Operating Partnership, the class to be issued shall be the class which meets the requirements of the foregoing sentence and which is designated by Brandywine Operating Partnership.

Examples of Equivalent Units in a sentence

• As the Panama Canal opens a third, much larger ship lane for traffic in 2016, the capacity of ships able to traverse will increase from 5,000 Twenty‐foot Equivalent Units (TEUs) to 13,000 TEUs. Thus much larger ships can be expected on the East Coast.

• The percentage of a particular Association Assessment to be levied on each Site shall be computed by multiplying the total amount to be assessed by a fraction, the numerator of which is the number of Equivalent Units assigned to such Unit by the total number of Equivalent Units assigned to all Sites subject to the particular Association Assessment.

• The number of Equivalent Units and resulting percentages for allocation of voting rights and Association Assessments shall be computed annually by the Association Board as of the date which is 60 days prior to the beginning of each fiscal year.

• If at any time any Preferred Stock or New Securities are issued that are convertible into or exercisable for Class A Common Stock or another security of the Manager, then upon any such conversion or exercise, the corresponding Equivalent Unit shall be similarly converted or exercised, as applicable, and an equal number of Class A Units or other Equivalent Units shall be issued to the Manager.

• New Securities that are derivative securities issued under any Incentive Compensation Plan of the Manager shall not require issuance of Equivalent Units by the Company until such time as such derivative securities are exercised for Capital Stock of the Manager.

More Definitions of Equivalent Units

Equivalent Units means the Equivalent Unit Factor for Residential Property, Office Property, Retail Property, and Hotel Property multiplied by the number of dwelling units of Residential Property, per 1,000 square feet of Building Square Footage for Office Property or Retail Property, and per hotel room for Hotel Property, respectively. The computation of the Equivalent Units for each Parcel shall be based on the information available regarding the use of the Parcel, which may include acreage and reasonable density ratios, and such computation by the County shall be conclusive as long as there is a reasonable basis for such determination.

Equivalent Units has the meaning set forth in Section 4.7.A.

Equivalent Units means, for Land Use Class 1, 2, 3, 4, and 5, the Gross Floor Area in 1,000s of square feet built or that is expected to be built on a Parcel, for Land Use Class 6, the guest rooms built or that is expected to be built on a Parcel, and for Land Use Class 7, 8, 9, 10, 11, 12 and 13 the number of dwelling units built or that is expected to be built on a Parcel, multiplied by the factors for each land use class shown below, which represent an allocation of the costs of the Public Improvements funded by the Bonds:

Equivalent Units means the respective units or 1,000 BSF for each property classification identified below built or that may be built on a Parcel of Assessed Property multiplied by the factors for each land use class shown below:

Equivalent Units shall have the meaning set forth in the Development Agreement.

Equivalent Units has the meaning set forth in Section 9.08(c).

Equivalent Units means Common Units and units of any new class ("NEW CLASS") of the Company's securities without fixed maximum distributions or which share with the Common Units in the residual value of the Company on liquidation or which are convertible into or exchangeable for such securities. Units of any New Class shall be deemed to be a number of Common Units which (a) would have the same share of non-fixed distributions or liquidation value, whichever is higher, as a unit of New Class or (b) would be exchangeable for such units or into which such units would convert.