Common use of Vesting of LTIP Shares Clause in Contracts

Vesting of LTIP Shares. Unless vested earlier under Section 2, (i) Time-Based Shares shall vest in three substantially equal annual increments on the first, second and third anniversaries of the Date of Grant, and (ii) any Performance Shares earned shall vest on the Determination Date (as defined in Section 1(e)).

Vesting of LTIP Shares. Unless vested earlier under Section 2, (i) Time-Based Shares shall vest in three substantially equal annual increments on the firstFebruary 18, second 2023, February 18, 2024, and third anniversaries of the Date of GrantFebruary 18, 2025, and (ii) any Performance Shares earned shall vest on the Determination Date (as defined in Section 1(e)).

Vesting of LTIP Shares. Unless vested earlier under Section 2, (i) Time-Based Shares shall vest in three substantially equal annual increments commencing on the first, second and third anniversaries first anniversary of the Date of Grant, and (ii) any Performance Shares earned shall vest on the Determination Date (as defined in Section paragraph 1(e)).