LPT Unit Amount definition

LPT Unit Amount means a number of LPT Units equal to the product of the number of Company Units offered for exchange by an Exchanging Member, multiplied by the Conversion Factor as of the Specified Exchange Date;
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LPT Unit Amount means a number of LPT Units equal to the product of the number of Company Units offered for exchange by an Exchanging Member, multiplied by the Conversion Factor as of the Specified Exchange Date; provided that in the event the LPT issues, or offers to issue, to all or substantially all of the holders of LPT Units rights, options, warrants or convertible or exchangeable securities entitling the shareholders to subscribe for or purchase LPT Units, or any other securities or property (collectively, the "rights"), then the LPT Unit Amount shall also include such rights that a holder of that number of LPT Units would be entitled to receive had they been issued or offered such rights.
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Examples of LPT Unit Amount in a sentence

  • Each Redeeming Member agrees to execute such documents as the US REIT may reasonably require in connection with the issuance of the US REIT Share Amount upon exercise of the Redemption Right, and each Redeeming Member who is exercising its Exchange Right (an "Exchanging Member") agrees to execute such documents as the LPT may reasonably require in connection with the issuance of the LPT Unit Amount upon such exercise.

  • If the US REIT shall elect to satisfy its purchase of Company Units under Section 8.5.B through the issuance of the US REIT Share Amount, then the LPT shall agree to grant to the Redeeming Member the right to require the LPT to immediately and irrevocably exchange (the "Exchange Right") such US REIT Share Amount for the applicable LPT Unit Amount on a Specified Exchange Date which shall be the same date (or later date at the option of the Exchanging Member) as the Specified Redemption Date.

  • In the event that the Exchange Right shall be elected, the LPT shall take all action necessary to issue and deliver on the Specified Exchange Date to the Exchanging Member, an amount of LPT Units equal to the LPT Unit Amount, which LPT Units shall be newly issued, fully paid, and non-assessable and free and clear of all liens and other encumbrances of any kind.

  • Notwithstanding the foregoing, Holdings agrees that it will not submit a Notice of Exchange or Notice of Redemption with respect to that portion of the US REIT Share Amount representing an LPT Unit Amount that is greater than 19.9% of the then outstanding LPT Units, unless such issuance of LPT Units complies with applicable law.

Related to LPT Unit Amount

  • Unit Value means, at any time, the value of each Stock Unit, which value shall be equal to the Fair Market Value (as defined in the Plan) of a Share on such date.

  • Common Unit Price has the meaning specified in Section 2.1(b).

  • Grant Amount has the meaning set forth in Article 3(A) of this Agreement. “Performance Period” has the meaning set forth in Article 5(B) of this Agreement. “Project” has the meaning set forth in Article 3(A) of this Agreement.

  • Unit Share has the meaning ascribed thereto in the first paragraph of this Agreement;

  • ACCUMULATION UNIT VALUE The value of an Accumulation Unit for a Subaccount of Variable Annuity Account C. Each Subaccount of Variable Annuity Account C has its own Accumulation Unit Value, which may increase or decrease daily based on the investment performance of the applicable underlying Fund in which it invests. Beneficiary (or Beneficiaries): The person designated to receive the death benefit payable under the Contract.