Performance LTIP Units definition

Performance LTIP Units means LTIP Units that vest in whole or in part based on the attainment of performance-vesting conditions.

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Performance LTIP Units has the meaning set forth in Section 2 hereof.

Performance LTIP Units which shall be issued to the Members in the amounts set forth opposite such Member’s name on Schedule A hereto. As of the date hereof, the Members (including the Common Members) are those listed on Schedule A attached hereto, which includes the addresses of such Members and the Units owned by each of them. The Units issued to the Members shall represent valid Membership Interests in the Company. The Units are subject to the restrictions on Transfer set forth in Article X and, except as set forth in a written agreement between the Managing Member or the Company and a Member with respect to Units held by such Member, no Members will have registration rights with respect to their Units.

Examples of Performance LTIP Units in a sentence

Each Performance LTIP Unit that has become a Vested Performance LTIP Unit shall be treated in the same manner as a Vested LTIP Unit that has no separate Performance LTIP Unit designation with all of the rights, privileges and obligations attendant thereto and all references to Vested LTIP Units herein shall refer equally to Vested Performance LTIP Units.
A series of Units designated as the Performance LTIP Units is hereby established.
The number of Performance LTIP Units shall be determined from time to time by the Managing Member in accordance with the terms of the Incentive Plan.
Notwithstanding the definition of Percentage Interest, the Percentage Interest of each Member holding Performance LTIP Units with respect to such Performance LTIP Units shall equal the Percentage Interest of a Member who holds an equivalent number of Common Units multiplied by the Performance LTIP Units Sharing Percentage (the “Performance LTIP Unitholder Percentage Interest”).
If the receipt of the special distribution provided for in Section 4.6(b)(i)(2) by a holder of Performance LTIP Units would cause or increase a deficit balance in such holder’s Capital Account, such holder shall be allocated specially for such taxable year (and, if necessary, later taxable years) items of income and gain in an amount and manner sufficient to eliminate such deficit Capital Account balance as quickly as possible as provided in Regulations Section 1.704-1(b)(2)(ii)(d).
Accordingly, there shall be two Percentage Interests for each Member owning such Performance LTIP Units, one which reflects the Percentage Interest assigned to such Performance LTIP Units (treating such Performance LTIP Unit as a Common Unit for this purpose) and one which reflects the Performance LTIP Unitholder Percentage Interest.
The Managing Member may from time to time issue Performance LTIP Units to Persons who provide services to or for the benefit of the Company or as otherwise permitted by the Incentive Plan, for such consideration or for no consideration as the Managing Member may determine to be appropriate, and admit such Persons as Members.
The Percentage Interest of each Member who holds such Performance LTIP Units, with respect to such Performance LTIP Units, shall equal the Performance LTIP Unitholder Percentage Interest for purposes of the provisions of this Agreement regarding the allocation of Profit and Loss of the Company (or items thereof) with respect to the Performance LTIP Units, other than the allocations set forth in Section 5.1(g) hereof and Sections 5.1(d), (e) and (j) hereof.

More Definitions of Performance LTIP Units

Performance LTIP Units means the Award LTIP Units that may be earned based on the Company’s performance relative to the Nareit Index Companies and the Peer Group Companies.

Performance LTIP Units means LTIP Units that vest in whole or in part based on the attainment of performance-vesting conditions. “Permitted Transfer” has the meaning set forth in Section 11.3(a) hereof.

Performance LTIP Units means a Unit designated as a Performance LTIP Unit pursuant to Section 4.6 hereof.

Performance LTIP Units has the meaning set forth in Section 2 hereof. “Post-Conversion Period AO LTIP Unit” means an AO LTIP Unit that was not converted on or prior to its Expiration Date pursuant to Section 12 hereof. “Proposed Section 83 Safe Harbor Regulation” has the meaning set forth in Section 14 hereof. “REIT Share Value” means, as of the date of valuation, the fair market value of a REIT Share, determined as follows: