Common use of Formation Unit Grants Clause in Contracts

Formation Unit Grants. Promptly after the Effective Time, Newco will grant a number of Formation Units (as defined in the limited partnership agreement of Newco LP, dated as of July 17, 2017) under the Newco Equity Plan with an aggregate value up to $100,000,000 divided by the volume-weighted average price of the Newco stock on the NYSE on the first trading day following the Effective Time (the “Formation Unit Pool”). Except as otherwise agreed by the parties, seventy-five percent (75%) of the Formation Unit Pool will be allocable by JBG and the remaining twenty-five percent (25%) of the Formation Unit Pool will be allocable by Vornado, in each case as mutually agreed by Vornado and JBG prior to the Effective Time (or as otherwise committed to the individuals and in the amounts set forth on Schedule 5.2).

Formation Unit Grants. Promptly after the Effective TimeClosing, Newco will grant a number of Formation Units (as defined in the limited partnership agreement of Newco LP, dated as of July 17·, 2017) under the Newco Equity Plan with an aggregate value up to $100,000,000 divided by the volume-weighted average price of the high and low prices of the Newco stock on the NYSE on the first trading day following the Effective Time (the “Formation Unit Pool”). Except as otherwise agreed by the parties, seventySeventy-five percent (75%) of the Formation Unit Pool will be allocable by JBG and the remaining twenty-five percent (25%) of the Formation Unit Pool will be allocable by Vornado, in each case as mutually agreed by Vornado and JBG prior to the Effective Time (or as otherwise committed to the individuals and in the amounts set forth on Schedule 5.2).

Formation Unit Grants. Promptly after the Effective TimeClosing, Newco will grant a number of Formation Units (as defined in the limited partnership agreement of Newco LP, dated as of July 17•, 2017) under the Newco Equity Plan with an aggregate value up to $100,000,000 divided by the volume-weighted average price of the high and low prices of the Newco stock on the NYSE on the first trading day following the Effective Time (the “Formation Unit Pool”). Except as otherwise agreed by the parties, seventySeventy-five percent (75%) of the Formation Unit Pool will be allocable by JBG and the remaining twenty-five percent (25%) of the Formation Unit Pool will be allocable by Vornado, in each case as mutually agreed by Vornado and JBG prior to the Effective Time (or as otherwise committed to the individuals and in the amounts set forth on Schedule 5.2).

Formation Unit Grants. Promptly after the Effective Time, Newco will grant a number of Formation Units (as defined in the limited partnership agreement of Newco LP, dated as of July 17•, 2017) under the Newco Equity Plan with an aggregate value up to $100,000,000 divided by the volume-weighted average price of the Newco stock on the NYSE on the first trading day following the Effective Time (the “Formation Unit Pool”). Except as otherwise agreed by the parties, seventy-five percent (75%) of the Formation Unit Pool will be allocable by JBG and the remaining twenty-five percent (25%) of the Formation Unit Pool will be allocable by Vornado, in each case as mutually agreed by Vornado and JBG prior to the Effective Time (or as otherwise committed to the individuals and in the amounts set forth on Schedule 5.2).