Acceleration of Vesting in Special Circumstances. Notwithstanding Section 2 above, all restrictions on all LTIP Units subject to this Award shall be deemed waived by the Committee (as defined in the Plan) and all LTIP Units granted hereby shall automatically become fully vested on the date specified below: (a) the effective termination date of the Management Agreement upon any termination of the Management Agreement resulting in the Termination Fee (as defined in the Management Agreement) becoming payable to the Grantee, or resulting in an election regarding the acquisition of the Grantee by the Company pursuant to Section 10(f)(ii) of the Management Agreement; or (b) a Control Change Date (as defined in the Plan).
Appears in 4 contracts
Samples: Ltip Unit Vesting Agreement (Bluerock Residential Growth REIT, Inc.), Ltip Unit Vesting Agreement (Bluerock Residential Growth REIT, Inc.), Ltip Unit Vesting Agreement (Bluerock Residential Growth REIT, Inc.)
