Impact of Conversion for Purposes of Section 5. 01(c)(iv). For purposes of making future allocations under Section 5.01(c)(iv) hereof and applying the Capital Account Limitation, the portion of the LTIP Economic Capital Account Balance of the applicable LTIP Unitholder shall be reduced, as of the date of conversion, by the product of the number of LTIP Units converted and the OP Unit Economic Balance.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Global Net Lease, Inc.), Limited Partnership Agreement (American Realty Capital Trust V, Inc.), Limited Partnership Agreement (New York REIT, Inc.)
Impact of Conversion for Purposes of Section 5. 01(c)(iv01(c)(iii). For purposes of making future allocations under Section 5.01(c)(iv5.01(c)(iii) hereof and applying the Capital Account Limitation, the portion of the LTIP Economic Capital Account Balance of the applicable LTIP Unitholder shall be reduced, as of the date of conversion, by the product of the number of LTIP Units converted and the OP Class A Unit Economic Balance.
Appears in 2 contracts
Samples: Limited Partnership Agreement (New York City REIT, Inc.), Limited Partnership Agreement (American Finance Trust, Inc)
