Issued OP Units definition
Examples of Issued OP Units in a sentence
With respect to the transactions described in Section 1.2(f)(i), (ii) and (iii), the applicable JBG Party (or its JBG Designees) shall be entitled to receive only Issued OP Units, payable in accordance with Section 1.7(d) (subject, however, to the provisions of Section 1.7(b) with respect to Cash Consideration).
In consideration of the JBG Parties’ contribution of the JBG Included Assets pursuant to the transactions described in Section 1.2, the JBG Parties and their JBG Designees will receive from Newco and Newco OP, collectively, a number of Issued Newco Shares and/or Issued OP Units (collectively, the “Equity Consideration”) equal to the Share Number.
In exchange for such contribution, Newco OP shall issue to the Vornado Parties or the applicable JBG Parties an amount of Issued OP Units or Issued Newco Shares (as elected by such Vornado Parties or such applicable JBG Parties) equal to the Post-Closing Consideration Number.
Any such Cash Consideration shall be equal to the product of (x) the number of Issued Newco Shares and/or Issued OP Units that would otherwise have been payable to such JBG Party or JBG Designee multiplied by (y) the Trading Price.
Notwithstanding anything to the contrary contained herein, no Kickout Interest shall be transferred at the Closing, and the Cash Consideration and Equity Consideration payable to the applicable Jaguar Fund that owns such Kickout Interest shall be reduced by an amount of cash, Issued Giants Shares and Issued OP Units set forth opposite such Kickout Interests on Section 1.5 of the Jaguar Disclosure Letter.