Number of Units Convertible. A holder of Vested LTIP Units may convert such Vested LTIP Units into an equal number of fully paid and non-assessable OP Units, giving effect to all adjustments (if any) made pursuant to Section 5 of this Annex A. Notwithstanding the foregoing, in no event may a holder of Vested LTIP Units convert a number of Vested LTIP Units that exceeds the LTIP Unit Capital Account Limitation.
Appears in 5 contracts
Samples: Second Amended and Restated Agreement of Limited Partnership (Mack Cali Realty L P), Second Amended and Restated Agreement of Limited Partnership (Mack Cali Realty L P), Limited Partnership Agreement (Mack Cali Realty L P)
Number of Units Convertible. A holder of Vested LTIP Units may convert such Vested LTIP Units into an equal number of fully paid and non-assessable OP Units, giving effect to all adjustments (if any) made pursuant to Section 5 of this Annex A. 4. Notwithstanding the foregoing, in no event may an LTIP Unitholder convert a holder of Vested LTIP Units convert a number Unit the Book-Up Target of Vested LTIP Units that exceeds the LTIP Unit Capital Account Limitationwhich has not been reduced to zero.
Appears in 2 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement (Clipper Realty Inc.)
Number of Units Convertible. A holder of Vested LTIP Units may convert such Vested LTIP Units into an equal number of fully paid and non-assessable OP Common Units, giving effect to all adjustments (if any) made pursuant to Section 5 of this Annex A. 4. Notwithstanding the foregoing, in no event may an LTIP Unitholder convert a holder of Vested LTIP Units convert a number of Unit unless the Economic Capital Account Balance associated with such Vested LTIP Units that exceeds Unit equals the LTIP Common Unit Capital Account LimitationEconomic Balance.
Appears in 1 contract
Samples: Limited Partnership Agreement (Peakstone Realty Trust)
Number of Units Convertible. A holder of Vested LTIP Units may convert such Vested LTIP Units into an equal number of fully paid and non-assessable OP Common Partnership Units, giving effect to all adjustments (if any) made pursuant to Section 5 of this Annex A. 4. Notwithstanding the foregoing, in no event may an LTIP Unitholder convert a holder of Vested LTIP Units convert a number of Unit unless the Economic Capital Account Balance associated with such Vested LTIP Units that exceeds Unit equals the LTIP Common Partnership Unit Capital Account LimitationEconomic Balance.
Appears in 1 contract
Samples: Limited Partnership Agreement (JBG SMITH Properties)
