Examples of MLP LTIP in a sentence
PAA shall reserve for issuance a number of PAA Common Units equal to the number of PAA Common Units that will be available for grant and delivery under the MLP LTIP from and after the Effective Time, including PAA Common Units that will be subject to PAA Phantom Units as a result of the actions contemplated by Section 3.1(g)(i)(i).
In the event that the PAA Board or its Compensation Committee elects not to adopt the MLP LTIP pursuant to this Section 6.16(c), the provisions of Section 6.16(a) shall continue to apply in full force and effect pursuant to their terms other than those provisions of Section 6.16(a) that relate to the adoption of the MLP LTIP.
Notwithstanding anything to the contrary in Section 6.16(a), the PAA Board or its Compensation Committee may, at its option, prior to the Effective Time, authorize the conversion of MLP Phantom Units into PAA Phantom Units under the PAA LTIP in accordance with Section 3.1(g)(i)(i) to be effective at the Effective Time, and may, in such event, elect either to adopt or not to adopt the MLP LTIP.
As soon as practicable following the Effective Time, PAA shall file a Form S-8 registration statement with respect to the PAA Common Units available for grant and delivery under the MLP LTIP from and after the Effective Time and shall maintain the effectiveness of such registration statement (and maintain the current status of the prospectus contained therein) for so long as such units are available for grant and delivery under the MLP LTIP.
As soon as practicable following the Effective Time, PNR shall file a Form S-8 registration statement with respect to the shares of PNR Common Stock available for grant and delivery under the MLP LTIP from and after the Effective Time and shall maintain the effectiveness of such registration statement (and maintain the current status of the prospectus contained therein) for so long as such shares are available for grant and delivery under the MLP LTIP.
Notwithstanding anything to the contrary in Section 6.15(a), the PNR board of directors or the PNR Compensation and Management Development Committee may, at its option, prior to the Effective Time, authorize the conversion of MLP Phantom Units into PNR Restricted Stock Units under the PNR LTIP in accordance with Section 3.1(e)(i) to be effective at the Effective Time, and may, in such event, elect either to adopt or not to adopt the MLP LTIP.
As of the date hereof, there are 99,768 MLP Common Units subject to MLP Phantom Units, which MLP Common Units are issuable under the MLP LTIP.
PNR shall reserve for issuance a number of shares of PNR Common Stock equal to the number of shares of PNR Common Stock that will be available for grant and delivery under the MLP LTIP from and after the Effective Time, including shares of PNR Common Stock that will be subject to PNR Restricted Stock Units as a result of the actions contemplated by Section 3.1(e)(i).
Prior to the Effective Time, the MLP GP Board shall take such action and adopt such resolutions as are required to (i) effectuate the treatment of the MLP Phantom Units pursuant to the terms of Section 3.1(e) of this Agreement, and (ii) prevent and waive the forfeiture of any MLP Phantom Units that would otherwise be forfeited pursuant to Section 6(b)(iii) of the MLP LTIP.
The parties hereto agree that 35,737 of Employee’s Restricted Incentive Units previously awarded under the MLP LTIP and 30,738 of Employee’s Restricted Incentive Units previously awarded under the GP LTIP will be forfeited.