LTIP Unit Conversion Notice definition

LTIP Unit Conversion Notice has the meaning set forth in Section 1.8(c) of Exhibit C hereto.

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LTIP Unit Conversion Notice in the form attached as Exhibit E to the Agreement not less than 10 nor more than 60 days, or such shorter period as the General Partner shall agree in its sole and absolute discretion, prior to a date (the “LTIP Unit Conversion Date”) specified in such LTIP Unit Conversion Notice. Each holder of LTIP Units covenants and agrees with the Partnership that all Vested LTIP Units to be converted pursuant to this Section 1.8 shall be free and clear of all liens. Notwithstanding anything herein to the contrary (but subject to Article 8 of the Agreement), a holder of LTIP Units may deliver a Notice of Redemption pursuant to Section 8.5 of the Agreement relating to those Common Units that will be issued to such holder upon conversion of such LTIP Units into Common Units in advance of the LTIP Unit Conversion Date; provided, however, that the redemption of such Common Units by the Partnership shall in no event take place until the LTIP Unit Conversion Date. For clarity, it is noted that the objective of this paragraph is to put a holder of LTIP Units in a position where, if he or she so wishes, the Common Units into which his or her Vested LTIP Units will be converted can be redeemed by the Partnership simultaneously with such conversion, with the further consequence that, if the Company elects to assume the Partnership’s redemption obligation with respect to such Common Units under Article 8 of the Agreement by delivering to such holder REIT Shares rather than cash, then such holder can have such REIT Shares issued to him or her simultaneously with the conversion of his or her Vested LTIP Units into Common Units. The General Partner shall cooperate with a holder of LTIP Units to coordinate the timing of the different events described in the foregoing sentence.

LTIP Unit Conversion Notice has the meaning set forth in Section 1.9.C.

Examples of LTIP Unit Conversion Notice in a sentence

A Forced LTIP Unit Conversion Notice shall be provided in the manner provided in Section 18.1 of the Agreement.
A Forced LTIP Unit Conversion Notice shall be provided in the manner in which notices are generally to be provided in accordance with the Partnership Agreement.
In order to exercise his or her Conversion Right, a holder of LTIP Units shall deliver a notice (a “LTIP Unit Conversion Notice”) in the form attached as Exhibit E to the Agreement not less than 10 nor more than 60 days, or such shorter period as the General Partner shall agree in its sole and absolute discretion, prior to a date (the “LTIP Unit Conversion Date”) specified in such LTIP Unit Conversion Notice.
A Forced LTIP Unit Conversion Notice shall be provided in the manner provided in Section 13.1 of this Agreement.
A Forced LTIP Unit Conversion Notice shall be provided in the manner provided in Section 15.1 of this Agreement.
A Class O LTIP Unit Conversion Notice shall be provided in the manner provided in Section 15.1. Each holder of Class O LTIP Units covenants and agrees with the Partnership that all Vested Class O LTIP Units to be converted pursuant to this Section 4.9.B shall be free and clear of all liens and encumbrances.
In order to exercise his or her Conversion Right, a holder of LTIP Units shall deliver a notice (a “LTIP Unit Conversion Notice”) in the form attached as Exhibit U to the Agreement not less than 10 nor more than 60 days, or such shorter period as the General Partner shall agree in its sole and absolute discretion, prior to a date (the “LTIP Unit Conversion Date”) specified in such LTIP Unit Conversion Notice.
In order to exercise his or her Class AO LTIP Unit Conversion Right, a holder of Class AO LTIP Units shall deliver a notice (a “Class AO LTIP Unit Conversion Notice”) in the form attached as Attachment A to this Exhibit J to the Partnership not less than 10 nor more than 60 days prior to a date (the “Conversion Date”) specified in such Class AO LTIP Unit Conversion Notice.
A Forced LTIP Unit Conversion Notice shall be provided in the manner provided in Section 17.1 of the Agreement.
In order to exercise his or her Conversion Right, a holder of LTIP Units shall deliver a notice (a “LTIP Unit Conversion Notice”) in the form attached as Exhibit D to the Agreement to the Partnership not less than 10 nor more than 90 days prior to a date (the “LTIP Unit Conversion Date”) specified in such LTIP Unit Conversion Notice.

More Definitions of LTIP Unit Conversion Notice

LTIP Unit Conversion Notice has the meaning ascribed thereto in Section 6.1.

LTIP Unit Conversion Notice has the meaning set forth in Section 7.C of Annex C to the Eighth Amendment to this Agreement.

LTIP Unit Conversion Notice has the meaning set forth in Section 7.C of Exhibit B to the Tenth Amendment to this Agreement.

LTIP Unit Conversion Notice has the meaning set forth in Section 7.C of Annex A to the Fourth Amendment to this Agreement.

LTIP Unit Conversion Notice has the meaning set forth in Section 1.9(c) of Exhibit D hereto.

LTIP Unit Conversion Notice. “LTIP Unit Conversion Right”, “LTIP Unit Forced Conversion” and “LTIP Unit Forced Conversion Notice”.