TRG Unit definition

TRG Unit means, effective for Awards made on and after March 1, 2016, a ‘Profits Unit’ as defined and to the extent authorized under The Third Amendment and Restatement of Agreement of Limited Partnership of The Taubman Realty Group Limited Partnership, dated December 12, 2012, as thereafter amended from time to time, and is intended to constitute a “profits interest” within the meaning of the Code. For Awards made prior to March 1, 2016, ‘TRG Unit’ means a unit of limited partnership in TRG.”
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Examples of TRG Unit in a sentence

  • The price to be paid for each TRG Unit made the subject of the Option upon the Optionee’s exercise of the Option or any part thereof shall be the Option Price of $[] per TRG Unit, which price is the Fair Market Value of a TRG Unit on the Grant Date.

Related to TRG Unit

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • Existing unit means a unit (including a unit subject to Section 111 of the Act) that commenced commercial operation before November 15, 1990, and that on or after November 15, 1990, served a generator with a nameplate capacity of greater than 25 MWe. Existing unit does not include simple combustion turbines or any unit that on or after November 15, 1990, served only generators with a nameplate capacity of 25 MWe or less. Any existing unit that is modified, reconstructed, or repowered after November 15, 1990, shall continue to be an existing unit.

  • Operating Unit means a department, division, facility or reporting location, whichever is applicable.

  • Spending unit means the department, bureau, division, office, board, commission,

  • Coating unit means a series of one or more coating applicators and any associated drying area and/or oven wherein a coating is applied dried and/or cured. A coating unit ends at the point where the coating is dried or cured, or prior to any subsequent application of a different coating. It is not necessary to have an oven or a flashoff area in order to be included in this definition.