Common use of Distributions and Allocations of Profits and Losses Clause in Contracts

Distributions and Allocations of Profits and Losses. (a) The Participant shall be entitled to receive distributions and allocations of Profits and Losses with respect to the LTIP Units to the extent provided for in the Partnership Agreement, as modified hereby. (b) The Distribution Participation Date (as defined in the Partnership Agreement) with respect to the LTIP Units issued hereunder shall be the Determination Date. Accordingly, from the Effective Date until the Distribution Participation Date, the holder of the LTIP Units issued hereunder shall only be entitled to a percentage of distributions and allocations under the Partnership Agreement equal to the LTIP Unit Initial Sharing Percentage (as defined in the Partnership Agreement) (i.e. 10%) of regular periodic distributions and allocations available to such LTIP Unit (the “Interim Distributions”). Upon vesting, the holder of the LTIP Units shall be entitled to receive an amount equal to (i) the distributions payable from the Effective Date until the Distribution Participation Date with respect to a number of Common Units that is identical to the actual number of LTIP Units earned hereunder, less (ii) the amount of the Interim Distributions (the “Performance Distribution”). The Performance Distribution shall be paid to the holder of the LTIP Units within 30 days after the Determination Date. (c) For the avoidance of doubt, (i) upon vesting, the holder of the LTIP Units shall (in the discretion of the General Partner) receive an allocation of income (including gross items thereof) in an amount equal to the Performance Distribution, and (ii) commencing immediately after the Determination Date, the LTIP Units issued hereunder that have vested shall be entitled to receive the same distributions and allocations payable with respect to Common Units. (d) All distributions paid with respect to the LTIP Units issued hereunder, both before and after the Determination Date, shall be fully vested and non-forfeitable when paid, whether or not the underlying LTIP Units have become vested pursuant to this Agreement.

Distributions and Allocations of Profits and Losses. (a) The Participant shall be entitled to receive distributions and allocations of Profits and Losses with respect to the AO LTIP Units to the extent provided for in the Partnership AgreementAgreement as if such AO LTIP Units were Partnership Common Units, as modified hereby. (b) The For purposes of this Agreement, the “Distribution Participation Date (as defined in the Partnership Agreement) Date” with respect to the AO LTIP Units issued granted hereunder shall be means the Determination Datedate that AO LTIP Units have vested in accordance with Section 4. Accordingly, from the Effective Date until the Distribution Participation Date, the holder of the AO LTIP Units issued hereunder shall only be entitled to a percentage of distributions and allocations under the Partnership Agreement equal to the ten percent (10%) (“AO LTIP Unit Initial Sharing Percentage (as defined in the Partnership Agreement) (i.e. 10%Percentage”) of regular periodic distributions (“Interim Distributions”) and allocations available to such AO LTIP Unit (the “Interim Distributions”)Unit. Upon vesting, the holder of the LTIP Units Participant shall be entitled to receive an amount equal to (i) the distributions payable from the Effective Date until the Distribution Participation Date with respect to a number of Partnership Common Units that is identical to the actual number of AO LTIP Units earned hereunderthat became vested on such Distribution Participation Date, less (ii) the amount of the Interim Distributions with respect to such vested AO LTIP Units (the “Performance Distribution”). The Performance Distribution shall be paid to the holder of the LTIP Units Participant within 30 days after the Determination Distribution Participation Date. (c) For the avoidance of doubt, (i) in addition to other allocations provided herein, upon vesting, the holder of the LTIP Units Participant shall (in the discretion of the General Partner) receive an allocation of income (including items of gross items thereofincome) in an amount equal to the Performance DistributionDistribution with respect to the AO LTIP Units that became vested on the applicable Distribution Participation Date, and (ii) commencing immediately after the Determination Distribution Participation Date, the AO LTIP Units issued hereunder that have vested shall be entitled to receive the same distributions and allocations payable with respect to Partnership Common Units. (d) All distributions paid with respect to the AO LTIP Units issued hereunder, both before and after the Determination Distribution Participation Date, shall be fully vested and non-forfeitable when paid, whether or not the underlying AO LTIP Units have become vested pursuant to this Agreement. (e) Vested AO LTIP Units shall be entitled to receive the full distribution payable on Partnership Common Units outstanding as of the record date next following the date set forth in the preceding sentence, whether or not they will have been outstanding for the whole period. An amount equal to the Performance Distribution attributable to unvested AO LTIP Units shall be credited to a notional (unfunded) account for the benefit of the Participant on the books and records of the Partnership subject to vesting. Such Performance Distribution with respect to vested AO LTIP Units shall be paid as provided above. Any portion of the notional account that is not payable to the Participant shall be forfeited and revert to the Partnership free and clear of any claims by the Participant. To the extent that the Partnership makes distributions to holders of Partnership Common Units partially in cash and partially in additional Partnership Common Units or other securities, the Participant shall receive such distribution with respect to all AO LTIP Units such distribution in cash other securities, with the cash component subject to the distribution provisions herein, and the securities subject to the same vesting on the applicable AO LTIP Units.