Common use of Other Changes in Capitalization Clause in Contracts

Other Changes in Capitalization. In the event of any non-cash distribution, Unit split, combination or exchange of Units, merger, consolidation or distribution (other than normal cash distributions) of Partnership assets to unitholders, or any other change affecting the Units of the Partnership, other than an “equity restructuring,” the Committee may make equitable adjustments, if any, to reflect such change with respect to (A) the aggregate number and kind of Units that may be issued under the Plan; (B) the number and kind of Units (or other securities or property) subject to outstanding Awards; (C) the terms and conditions of any outstanding Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and (D) the grant or exercise price per Unit for any outstanding Awards under the Plan.

Appears in 5 contracts

Samples: Retention Agreement (MPLX Lp), Award Agreement (Marathon Petroleum Corp), Retention Agreement (MPLX Lp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.