AO LTIP Conversion Factor definition

AO LTIP Conversion Factor means, for a BPY AO LTIP Unit as of a particular date, the quotient of (i) the excess of (A) the Conversion Date Value (as defined below) as of such date over (B) the AO LTIP Unit Participation Threshold (as defined below) for such BPY AO LTIP Unit as of such date, divided by (ii) the Conversion Date Value as of such date.
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AO LTIP Conversion Factor means the quotient of (i) the excess of the Common Unit Economic Balance as of the date of conversion (assuming for this purpose the Gross Asset Values of the Company’s assets are adjusted pursuant to subsection (b) of the definition of Gross Asset Value as of the conversion date) over the AO LTIP Unit Participation Threshold (as defined below) for such Vested AO LTIP Unit, divided by (ii) the Common Unit Economic Balance as of the date of conversion (assuming for this purpose the Gross Asset Values of the Company’s assets are adjusted pursuant to subsection (b) of the definition of Gross Asset Value as of the conversion date).
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Examples of AO LTIP Conversion Factor in a sentence

  • On the AO LTIP Unit Forced Conversion Date noted above (or at such earlier time specified herein or in the Partnership Agreement) the Company intends to cause conversion of each AO LTIP Unit and no further increase (or decrease) in the AO LTIP Conversion Factor will occur thereafter.

  • Each AO LTIP Unit will have a period of ten (10) years (the “Fixed Term”), commencing on the Effective Date to accrete to its maximum AO LTIP Conversion Factor (subject to the Participant’s right to convert sooner at his or her option as provided in the Partnership Agreement).

  • A holder of Vested AO LTIP Units may convert each such Vested AO LTIP Unit into a number (or fraction thereof) of fully paid and non-assessable Class A Units, giving effect to all adjustments (if any) made pursuant to Section 4, equal to the AO LTIP Conversion Factor (as defined below) for such Vested AO LTIP Unit on the AO Conversion Date for such Vested AO LTIP Unit.

  • Each AO LTIP Unit will have a period often (10) years (the “Fixed Term”), commencing on the Effective Date to accrete to its maximum AO LTIP Conversion Factor (subject to the Participant’s right to convert sooner at his or her option as provided in the Partnership Agreement).

  • Each AO LTIP Unit, subject to the restrictions, limitations, and conditions of redemption and conversion set forth herein and in the Partnership Agreement, may (i) become convertible into a number of common units of the Partnership to be calculated using the AO LTIP Conversion Factor, and (ii) the common units of the Partnership into which AO LTIP Units are converted will be redeemable for a cash amount or shares of the Company’s common stock as provided in the Partnership Agreement.