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.