Common use of Issuance of Award Clause in Contracts

Issuance of Award. Pursuant to the Plan, in consideration of Grantee’s agreement to provide services to or for the benefit of the Partnership, the Partnership hereby issues to Grantee an award of Class D Profits Interest Units (the “Class D Units”) and (b) if not already a Partner, admits Grantee as a Partner of the Partnership on the terms and conditions set forth herein, in the Plan and in the Amended and Restated Agreement of Limited Partnership of the Partnership (as amended from time to time, the “Partnership Agreement”). The Partnership and Grantee acknowledge and agree that the Class D Units are hereby issued to Grantee for the performance of services to or for the benefit of the Partnership in his or her capacity as a Partner or in anticipation of Grantee becoming a Partner. Upon receipt of the Award, Grantee shall, automatically and without further action on his or her part, be deemed to be a party to, signatory of and bound by the Partnership Agreement. At the request of the Partnership, Grantee shall execute the Partnership Agreement or a joinder or counterpart signature page thereto. Grantee acknowledges that the Partnership may from time to time issue or cancel (or otherwise modify) Profits Interest Units, including Class D Units, in accordance with the terms of the Partnership Agreement. The Award shall have the rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption and conversion set forth herein and in the Plan and the Partnership Agreement.

Appears in 1 contract

Samples: Class D Profits Interest Unit Agreement (Digital Realty Trust, L.P.)

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Issuance of Award. Pursuant to the Plan, in consideration of Granteethe Participant’s agreement to provide services to or for the benefit of the Partnership, the Partnership hereby (a) issues to Grantee the Participant an award of Class D ___________ Profits Interest Units (the “Class D UnitsAward”) and (b) if not already a Partner, admits Grantee the Participant as a Partner of the Partnership on the terms and conditions set forth herein, in the Plan and in the Amended and Restated Agreement of Limited Partnership of the Partnership (as amended from time to time, the “Partnership Agreement”). The Partnership and Grantee the Participant acknowledge and agree that the Class D Profits Interest Units are hereby issued to Grantee the Participant for the performance of services to or for the benefit of the Partnership in his or her capacity as a Partner or in anticipation of Grantee the Participant becoming a Partner. Upon receipt of the Award, Grantee the Participant shall, automatically and without further action on his or her part, be deemed to be a party to, signatory of and bound by the Partnership Agreement. At the request of the Partnership, Grantee the Participant shall execute the Partnership Agreement or a joinder or counterpart signature page thereto. Grantee The Participant acknowledges that the Partnership may from time to time issue or cancel (or otherwise modify) Profits Interest Units, including Class D Units, Units in accordance with the terms of the Partnership Agreement. The Award shall have the rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption and conversion set forth herein and in the Plan and the Partnership Agreement.

Appears in 1 contract

Samples: Time Based Profits Interest Unit Agreement (Digital Realty Trust, L.P.)

Issuance of Award. Pursuant to the Plan, in consideration of Granteethe Participant’s agreement to provide services to or for the benefit of the Partnership, the Partnership hereby (a) issues to Grantee the Participant an award of Class D _______ Profits Interest Units (the “Class D UnitsAward”) and (b) if not already a Partner, admits Grantee the Participant as a Partner of the Partnership on the terms and conditions set forth herein, in the Plan and in the Amended and Restated Agreement of Limited Partnership of the Partnership (as amended from time to time, the “Partnership Agreement”). The Partnership and Grantee the Participant acknowledge and agree that the Class D Profits Interest Units are hereby issued to Grantee the Participant for the performance of services to or for the benefit of the Partnership in his or her capacity as a Partner or in anticipation of Grantee the Participant becoming a Partner. Upon receipt of the Award, Grantee the Participant shall, automatically and without further action on his or her part, be deemed to be a party to, signatory of and bound by the Partnership Agreement. At the request of the Partnership, Grantee the Participant shall execute the Partnership Agreement or a joinder or counterpart signature page thereto. Grantee The Participant acknowledges that the Partnership may from time to time issue or cancel (or otherwise modify) Profits Interest Units, including Class D Units, Units in accordance with the terms of the Partnership Agreement. The Award shall have the rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption and conversion set forth herein and in the Plan and the Partnership Agreement.

Appears in 1 contract

Samples: Time Based Profits Interest Unit Agreement (Digital Realty Trust, L.P.)

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Issuance of Award. Pursuant to the Plan, in consideration of Granteethe Participant’s agreement to provide services to or for the benefit of the Partnership, the Partnership hereby (a) issues to Grantee the Participant an award of Class D Profits Interest Units (the “Class D UnitsAward”) and (b) if not already a Partner, admits Grantee the Participant as a Partner of the Partnership on the terms and conditions set forth herein, in the Plan and in the Amended and Restated Agreement of Limited Partnership of the Partnership (as amended or restated from time to time, the “Partnership Agreement”). The Partnership and Grantee the Participant acknowledge and agree that the Class D Units are Award is hereby issued to Grantee the Participant for the performance of services to or for the benefit of the Partnership in his or her capacity as a Partner or in anticipation of Grantee the Participant becoming a Partner. Upon receipt of the Award, Grantee the Participant shall, automatically and without further action on his or her part, be deemed to be a party to, signatory of and bound by the Partnership Agreement. At the request of the Partnership, Grantee the Participant shall execute the Partnership Agreement or a joinder or counterpart signature page thereto. Grantee The Participant acknowledges that the Partnership may may, from time to time time, issue or cancel (or otherwise modify) Profits Interest Units, including Class D Units, Units in accordance with the terms of the Partnership Agreement. The Award shall have the rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption and conversion set forth herein and in the Plan and the Partnership Agreement.

Appears in 1 contract

Samples: Profits Interest Units Agreement (Vinebrook Homes Trust, Inc.)

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