Formation Unit definition

Formation Unit means a Partnership Unit which is designated as a Formation Unit and which has the rights, preferences and other privileges designated in Exhibit F hereof. The allocation of Formation Units among the Partners shall be set forth in the Partner Registry.
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Formation Unit means a Partnership Unit which is designated as a Formation Unit and which has the rights, preferences and other privileges designated in Exhibit F hereof. The Formation Units are intended to give the holders thereof the benefits of appreciation in the value of the Common Partnership Units from the time of issuance of Formation Units and may sometimes be referred to for clarity as “Appreciation-Only LTIP Units.” Any reference herein or elsewhere to Formation Unit shall be deemed to be a reference to Appreciation-Only LTIP Unit. The allocation of Formation Units (including Appreciation-Only LTIP Units) among the Partners shall be set forth in the Partner Registry.
Sample 1
Formation Unit means a Partnership Unit which is designated as a Formation Unit and which has the rights, preferences and other privileges designated in Exhibit F hereof. The allocation of Formation Units among the Partners shall be set forth in the Partner Registry. “Funding Debt” means any Debt incurred by or on behalf of the General Partner for the purpose of providing funds to the Partnership. “GAAP” means U.S. generally accepted accounting principles. “General Partner” means JBG XXXXX Properties, a Maryland real estate investment trust, or any Person who becomes a successor general partner of the Partnership. “General Partner Entity” means the General Partner; provided, however, that if (i) the common shares of beneficial interest (or other comparable equity interests) of the General Partner are at any time not Publicly Traded and (ii) the shares of common stock (or other comparable equity interests) of an entity that owns, directly or indirectly, all of the common shares of beneficial interest (or other comparable equity interests) of the General Partner are Publicly Traded, the term “General Partner Entity” shall refer to such entity whose shares of common stock (or other comparable equity securities) are Publicly Traded. If both requirements set forth in clauses (i) and (ii) above are not satisfied, then the term “General Partner Entity” shall mean the General Partner. “General Partner Payment” has the meaning set forth in Section 15.13 hereof.
Sample 1

Examples of Formation Unit in a sentence

  • Except as otherwise agreed by the parties, seventy-five percent (75%) of the Formation Unit Pool will be allocable by JBG and the remaining twenty-five percent (25%) of the Formation Unit Pool will be allocable by Vornado, in each case as mutually agreed by Vornado and JBG prior to the Effective Time (or as otherwise committed to the individuals and in the amounts set forth on Schedule 5.2).

  • The parties agree that the intent of this Section 6.1.F is to make the Capital Account balance associated with each Formation Unit economically equivalent to the Capital Account balance associated with the General Partner Entity’s Common Partnership Units (on an “as converted” basis), but only if the Partnership has recognized cumulative net gains with respect to its assets since the issuance of the relevant Formation Unit, and to achieve the economic result consistent with Exhibit F.

  • Distributions made with respect to Formation Units shall be adjusted as necessary to ensure that the amount apportioned to each Formation Unit does not exceed the amount attributable to the Formation Unit’s share of Partnership net income or gain realized after the date such Formation Unit was issued by the Partnership (including in connection with an adjustment to the Carrying Value of Partnership assets under Section 1.D of Exhibit B of this Agreement).

Related to Formation Unit

  • Production Unit means a facility for generation of electricity made up of a single generation unit or of an aggregation of generation units;

  • Generation Unit means a facility that converts a fuel or an energy resource into electrical energy.

  • Creation Unit means an aggregation of a specified number of Shares as stated in the Prospectus for the applicable Fund.

  • Cogeneration unit means a unit that is able to operate in cogeneration mode;

  • Diversion unit means any probation counselor who enters into

  • Project Coordination Unit or “PCU” means the unit referred to in Section II (1) of Schedule 4 to this Agreement;

  • Application Unit means such number of Units or whole multiples thereof as specified in this Prospectus or such other whole multiple of Units determined by the Manager, approved by the Trustee and notified to the Participating Dealers.

  • Operating Partnership Agreement means the Fifth Amended and Restated Agreement of Limited Partnership of the Operating Partnership, as it may be amended, supplemented or restated from time to time.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of such Act.

  • Limited Partnership Agreement means the Second Amended and Restated Agreement of Limited Partnership of the Partnership dated as of March 9, 2004, as amended from time to time.

  • Borrower Partnership Agreement means the Limited Partnership Agreement of the Borrower dated as of January 17, 2014 as such agreement may be amended, restated, modified or supplemented from time to time with the consent of the Administrative Agent or as permitted under Section 10.10.

  • MLP Partnership Agreement means the Amended and Restated Agreement of Limited Partnership of the MLP, as amended or restated from time to time.

  • Manager-managed limited liability company means a limited liability company that is managed by

  • Organizational Unit means a Laboratory School or any

  • Member-managed limited liability company means a limited liability company that is not a manager-managed limited liability company.

  • Foreign limited liability limited partnership means a foreign limited partnership whose general partners have limited liability for the obligations of the foreign limited partnership under a provision similar to section 488.404, subsection 3.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Foreign limited liability partnership means a partnership that:

  • Spending unit means the department, bureau, division, office, board, commission,

  • Organizational Limited Partner means Xxxxx X. Xxxxxxx.

  • Local public procurement unit means any political subdivision or unit thereof which expends public funds for the procurement of supplies, services, or construction.

  • Drilling unit means the area fixed for the drilling of one well by order or rule of any state or federal body having authority. If a Drilling Unit is not fixed by any such rule or order, a Drilling Unit shall be the drilling unit as established by the pattern of drilling in the Contract Area unless fixed by express agreement of the Drilling Parties.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Operating Unit means, for purposes of this part, primary and constituent operating units designated as such in the Department Order Series of the De- partment of Commerce and, in addi- tion, the Office of the Secretary.

  • Limited liability partnership or “LLP” shall mean a Company governed by Limited Liability Partnership Act 2008 or as amended;

  • Accumulation Unit is the unit of measure we use before the Income Date to keep track of the value of each Variable Sub-Account.