Additional Banked Unit Credits Sample Clauses

Additional Banked Unit Credits. Except to the extent otherwise provided in Section 7(b)(ii), if: (A) Cash dividends are paid with respect to Shares during 2017, 2018, or 2019, and (B) The Participant is credited with Banked Units under Section 2(a), 2(b), 2(c), or 2(d); then (i) the Participant shall be credited with an additional number of Banked Units as of: a) December 31, 2017 (with respect to Banked Units credited under Section 2(a)); b) December 31, 2018 (with respect to Banked Units credited under Section 2(b)); c) December 31, 2019 (with respect to Banked Units credited under Section 2(c));
Sample 1
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Additional Banked Unit Credits. If the Participant is credited with Banked Units under Section 2(a), 2(b), 2(c), or 2(d); then (ii) the Participant shall be credited with an additional number of Banked Units as of: (A) December 31, [Year 1] (with respect to Banked Units credited under Section 2(a)); (B) December 31, [Year 2] (with respect to Banked Units credited under Section 2(b)); (C) December 31, [Year 3] (with respect to Banked Units credited under Section 2(c)); in each case determined as the quotient of “w” divided by “x” where “w” equals the amount of any cash dividends paid with respect to Shares during the period beginning January 1, [Year 1] and ending on December 31 of the applicable calendar year with respect to a number of Shares equal to the number of Banked Units creditable under Section 2(a), 2(b) and 2(c), as applicable, as of the last day of each such calendar year, and “x” equals the closing price per Share on the last day of the applicable calendar year, rounded to the nearest whole Share; and (iii) the Participant shall be credited with an additional number of Banked Units as of December 31, [Year 3] (with respect to Banked Units credited under Section 2(d)), determined as the quotient of “y” divided by “z” where “y” equals the aggregate amount of any cash dividends paid with respect to Shares during calendar years [Year 1], [Year 2] and [Year 3] with respect to a number of Shares equal to the number of Banked Units creditable under Section 2(d) as of December 31, [Year 3], and “z” equals the closing price per Share on December 31, [Year 3], rounded to the nearest whole Share. -6-
Sample 1

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