Examples of LTIP Equalization Date in a sentence
To the extent any Partnership income is allocable to LTIP Unitholders prior to the LTIP Equalization Date, any such income shall first be allocated to those LTIP Unitholders with the earliest grant date when compared to all such other LTIP Unitholders, until the LTIP Equalization Date is reached for such earlier granted LTIP Units.
Upon the LTIP Equalization Date occurring under Section 6.3.B, the LTIP Units shall rank pari passu with the Partnership Units as to the payment of regular and special periodic or other distributions and distributions upon sale of assets, liquidation, dissolution or winding up.
The Redemption Right provided to Limited Partners under Section 8.6 shall not apply with respect to LTIP Units unless and until the LTIP Equalization Date occurs under Section 6.3.B, and then only with respect to LTIP Units that are Non-Forfeitable LTIP Units.
Subject to the allocations required to be made to an LTIP Unitholder pursuant to Section 6.4, an LTIP Unit automatically is treated as a Partnership Unit when the LTIP Equalization Date has occurred under Section 6.3.B, but only Non-Forfeitable LTIP Units may be the subject of a Redemption election by an LTIP Unitholder.
Non-Forfeitable LTIP Units shall be treated as Partnership Units for all purposes from and after the occurrence of the LTIP Equalization Date under Section 6.3.B, and special allocations of income or gain under Section 6.3, and tax allocations required to be made under Section 6.4, shall continue to be made to the Non-Forfeitable LTIP Units to the extent required by this Agreement.
Non-Forfeitable LTIP Units shall be treated as Partnership Units for all purposes from and after the occurrence of the LTIP Equalization Date under Section 6.3.B, and special allocations of income or gain under Section 4.6.B(2)(C) and Section 6.3, and tax allocations required to be made under Section 6.4 after a Book-up Event, shall continue to be made to the Non-Forfeitable LTIP Units to the extent required by this Agreement.
The Redemption Right provided to Limited Partners under Section 8.6 shall not apply with respect to LTIP Units unless and until the LTIP Equalization Date occurs with respect to such LTIP Units under Section 6.3(b), and then only with respect to such LTIP Units that are Non-Forfeitable LTIP Units.
An LTIP Unitholder shall be entitled to share in all distributions of Available Cash as if each LTIP Unit were a Common Unit, but until the LTIP Equalization Date has occurred with respect to an LTIP Unit, such LTIP Unit may only participate in sale and liquidation proceeds from an asset to the extent of income allocated to the holder thereof under Section 6.3(b) that is attributable to the appreciation in value of such asset after the LTIP Unit issuance date for such LTIP Unit.
If an Adjustment Event (as defined below) occurs, then the General Partner shall make a corresponding adjustment to the LTIP Units (to maintain a one-for-one conversion and economic equivalence ratio between Partnership Common Units and LTIP Units upon the LTIP Equalization Date occurring under Section 6.3(b)).
Upon the LTIP Equalization Date occurring under Section 6.3(b) with respect to an LTIP Unit, such LTIP Unit shall rank pari passu with a Partnership Common Unit as to the payment of regular and special periodic or other distributions and distributions upon sale of assets, liquidation, dissolution or winding up.