LTIP Equivalence. Except as otherwise expressly provided in this Membership Unit Designation, 2011 OPP Units shall be treated as LTIP Units, and shall have the rights, privileges, restrictions, powers and duties applicable to LTIP Units under the LLC Agreement, including without limitation the provisions of Section 4.5.
Appears in 6 contracts
Samples: Employment Agreement (Morgans Hotel Group Co.), Employment Agreement (Morgans Hotel Group Co.), Employment Agreement (Morgans Hotel Group Co.)
LTIP Equivalence. Except as otherwise expressly provided in this Membership Partnership Unit Designation, 2011 OPP Units shall be treated as LTIP Units, and shall have the rights, privileges, restrictions, powers and duties applicable to LTIP Units under the LLC Agreement, including without limitation the provisions of Section 4.54.5 of the Agreement.
Appears in 1 contract
Samples: Agreement of Limited Partnership (Northstar Realty)
LTIP Equivalence. Except as otherwise expressly provided in this Membership Unit DesignationExhibit F, 2011 OPP Units shall be treated as LTIP Units, and shall have the rights, privileges, restrictions, powers and duties applicable to LTIP Units under the LLC Agreement, including without limitation the provisions of Section 4.5.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Morgans Hotel Group Co.)
