OP Unit Amount definition

OP Unit Amount means a number of OP Units equal to the product of (i) the number of Partnership Units offered for redemption by a Redeeming Partner, and (ii) the Conversion Factor; provided, that in the event the Operating Partnership issues to all holders of OP Units rights, options, warrants or convertible or exchangeable securities entitling the holders of OP Units to subscribe for or purchase OP Units, or any other securities or property (collectively, the “rights”), and the Operating Partnership can issue such rights to the Redeeming Partner, then the OP Unit Amount shall also include such rights that a holder of that number of OP Units would be entitled to receive.
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OP Unit Amount means, with respect to a Property, the Net Consideration for such Property multiplied by the OP Unit Percentage for such Property.
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OP Unit Amount shall have the meaning set forth in Section 4(b).
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Examples of OP Unit Amount in a sentence

  • The OP Unit Amount shall be delivered into escrow at Closing to be held for one year in accordance with the terms of the Escrow Agreement attached hereto as Exhibit "C" and made a part hereof.

  • If Transferor fails to notify SLGOP of the amount of OP Units to be issued to SCW Recipient on or prior to such date, SCW shall be deemed to have elected to receive $11,000,000.00 as the OP Unit Amount.

  • SCW Recipient shall at Closing receive that number of OP Units which is equal to the quotient of (a) the OP Unit Amount divided by (b) the trailing average daily closing price on the New York Stock Exchange of the common stock of ▇▇ ▇▇▇▇▇ Realty Corp.

  • The OP Unit Amount shall be payable to the Contributors or, with respect to any Contributor, a Contributor Person designated by the applicable Contributor, at the applicable Closing, by issuance to the Contributors of OP Units having the terms set forth in the Spie▇▇▇ ▇▇▇tnership Agreement, which OP Units shall be convertible into Shares having certain registration rights as set forth in the Conversion, Registration Rights and Lock-up Agreements (as defined below).

  • Deliveries of cash in the Cash Escrow Fund to the Shareholders pursuant to this Section 8.9 and the Escrow Agreement shall be made in proportion to their respective original contributions to the Cash Escrow Fund.

  • In the event of a Redemption, the OP Unit Amount shall be delivered on or before the Specified Redemption Date.

  • Fractional OP Units shall not be issued, and the OP Unit Amount shall be rounded down to the whole number of OP Units of which it is comprised.


More Definitions of OP Unit Amount

OP Unit Amount means a number of OP Units equal to the sum of (i) the number of Tendered Units, plus (ii) the quotient of (a) the product of (x) the number of Tendered Units and (y) the Preferred Return Shortfall Per Unit minus the Unrecovered Special Advance Distributions, divided by (b) the Value of a Class A Common Share as of the applicable Valuation Date.
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OP Unit Amount means the amount determined by subtracting the amount of the Loan Payoff Amount from the sum of One Hundred Twenty-Nine Million Dollars ($129,000,000) (the "Agreed Amount"), provided that the number of OP Units issued shall be subject to adjustments and prorations as set forth herein, including but not limited to, the credits and prorations set forth in Section 9(f) below, any adjustments that may be made for certain potential leasing activity as described in Paragraph 16(c) below, and the credit set forth in Section 18(b) below. Notwithstanding anything to the contrary set forth herein, in the event that Transferee delivers the Extension Notice and places in escrow the Extension Deposit as provided in Paragraph 9(b) below, the Average Stock Price shall be determined as if the Closing Date were the date that is exactly thirty (30) days after the expiration of the Due Diligence Period.
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