LTIP Unit Agreement definition

LTIP Unit Agreement means any written agreement(s) between the Partnership and any recipient of LTIP Units evidencing the terms and conditions of any LTIP Units, including any vesting, forfeiture and other terms and conditions as may apply to such LTIP Units, consistent with the terms hereof and of the Plan (or other applicable Equity Plan governing such LTIP Units).

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LTIP Unit Agreement means any written agreement(s) between the Company and any recipient of LTIP Units evidencing the terms and conditions of any LTIP Units, including any vesting, forfeiture and other terms and conditions as may apply to such LTIP Units, consistent with the terms hereof and of the Plan (or other applicable Equity Plan governing such LTIP Units).

LTIP Unit Agreement means an agreement evidencing a LTIP Unit Award, as described in Section 8.2.

Examples of LTIP Unit Agreement in a sentence

Any certificate evidencing an LTIP Unit shall bear an appropriate legend, as determined by the Managing Member, indicating that additional terms, conditions and restrictions on transfer, including without limitation under any LTIP Unit Agreement and the Plan (or any other applicable Equity Plan), apply to the LTIP Unit.
Unless otherwise specified in the applicable LTIP Unit Agreement, no consideration or other payment shall be due with respect to any LTIP Units that have been forfeited, other than any distributions declared prior to the effective date of the forfeiture with respect to a Company Record Date and with respect to such LTIP Units.
Upon the forfeiture of any LTIP Units in accordance with the applicable LTIP Unit Agreement and Equity Plan (including any forfeiture effected through repurchase), the LTIP Units so forfeited (or repurchased) shall immediately, and without any further action, be treated as cancelled and no longer outstanding for any purpose.
The terms of any LTIP Unit Agreement may be modified by the Managing Member from time to time in its sole discretion, subject to any restrictions on amendment imposed by the relevant LTIP Unit Agreement or by the Plan or any other applicable Equity Plan.
LTIP Units may, in the sole discretion of the Managing Member, be issued subject to vesting, forfeiture and additional restrictions on Transfer pursuant to the terms of the applicable LTIP Unit Agreement or Equity Plan.
Subject to the terms and limitations contained in an applicable LTIP Unit Agreement and the Plan (or any other applicable Equity Plan) and except as expressly provided in this Agreement with respect to LTIP Units, a Holder of LTIP Units shall be entitled to transfer such Holder’s LTIP Units to the same extent, and subject to the same restrictions, as Holders of Common Units are entitled to transfer their Common Units pursuant to Article 11.
If an Adjustment Event occurs, then the Managing Member shall take any action reasonably necessary, including any amendment to this Agreement, any LTIP Unit Agreement and/or any update to the Member Registry adjusting the number of outstanding LTIP Units or subdividing or combining outstanding LTIP Units, in any case, to maintain a one-for-one conversion and economic equivalence ratio between Common Units and LTIP Units.

More Definitions of LTIP Unit Agreement

LTIP Unit Agreement means each or any, as the context implies, LTIP Unit Agreement entered into by an LTIP Unitholder upon acceptance of an award of LTIP Units under an Equity Incentive Plan (as such agreement may be amended, modified or supplemented from time to time). “LTIP Unitholder” means a Partner that holds LTIP Units. “Nonrecourse Deductions” has the meaning set forth in Regulations Section 1.704- 2(b)(1), and the amount of Nonrecourse Deductions for a taxable year shall be determined in accordance with the rules of Regulations Section 1.704-2(c). “Notice of Exchange” means the Notice of Exercise of Exchange Right substantially in the form attached as Exhibit C hereto. “NYSE” means the New York Stock Exchange. “Offer” has the meaning set forth in Section 7.1(b) hereof. “Original Limited Partnership Agreement” has the meaning provided in the recitals hereof. “Partner” means any General Partner or Limited Partner. “Partner Minimum Gain” means “partner nonrecourse debt minimum gain” as set forth in Regulations Section 1.704-2(i). A Partner’s share of Partner Minimum Gain shall be determined in accordance with Regulations Section 1.704-2(i)(5). “Partner Nonrecourse Debt” has the meaning set forth in Regulations Section 1.704- 2(b)(4).

LTIP Unit Agreement means each or any, as the context implies, LTIP unit agreement entered into by an LTIP Unitholder and the Partnership upon acceptance of an award of LTIP