Operating Partnership Plan definition

Operating Partnership Plan means the Plan as administered pursuant to Section 3.2 hereof for the benefit of the employees of the Operating Partnership, its general partner and its Affiliates.
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Operating Partnership Plan means the Plan as administered pursuant to Section 3(b) hereof for the benefit of the employees of CPHC, the Operating Partnership and their respective Affiliates. (q) "Participant" means (i) an eligible employee of the Company who becomes a participant in the Company Plan, and (ii) an eligible employee of CPHC, the Operating Partnership, or an Affiliate of either who becomes a participant in the Operating Partnership Plan. A Participant may, if eligible, participate in both the Company Plan and the Operating Partnership Plan. (r) "Payroll Deduction Period" means the payroll period of the applicable Employer or such other period as the Plan Administrator shall determine; provided, however, that the first Payroll Deduction Period under the Plan shall commence on a date determined by the Chief Financial Officer of the applicable Employer and end on the last day of the then current payroll period of such applicable Employer. (s) "Plan" means the Colonial Properties Trust Employee Share Purchase Plan (which encompasses the Company Plan and the Operating Partnership Plan), as the same may be hereafter amended from time to time. (t) "Plan Administrator" means, with respect to the Company Plan, the Board of Trustees, the Company Committee or the designee of either; and means, with respect to the Operating Partnership Plan, the Board of Directors, the CPHC Committee, or the designee of either. (u) "Purchase Date" shall have the meaning set forth in Section 8 below. (v) "Purchase Price" shall have the meaning set forth in Section 7 below. (w) "Reporting Period" shall have the meaning set forth in Section 10 below. (x) "Shares" means the common shares of beneficial interest, par value $.01 per share, of the Company. (y) "Subsidiary" means any "subsidiary corporation" of the Company within the meaning of Section 425(f) of the Code.
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Operating Partnership Plan means the Plan as administered pursuant to Section 3(b) hereof for the benefit of the employees of CPHC, the Operating Partnership and their respective Affiliates.
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Examples of Operating Partnership Plan in a sentence

  • The Operating Partnership Plan shall be administered by the Board of Directors, the CPHC Committee or the designee of either.

  • The Board of Trustees, may, at any time and from time to time, amend, suspend, or terminate the Plan as to Shares that have not yet been purchased under the Plan; provided, however, that no amendment, suspension or termination shall be effective with respect to the Operating Partnership Plan without the approval of the Board of Directors in its capacity as general partner of the Operating Partnership.

  • Neither the Board of Directors, the CPHC Committee, nor the designee of either shall be liable for any action or determination made in good faith with respect to the Operating Partnership Plan.

  • Any person to whom the duty to perform an administrative function under the Operating Partnership Plan is delegated by the Plan Administrator shall act on behalf of and shall be responsible to the Plan Administrator for such function.

  • In connection with any termination of the Company Plan or the Operating Partnership Plan, the Applicable Committee may determine to refund all Participant contributions to the Plan that have not yet been expended to purchase Shares.

  • The interpretation and construction by the Plan Administrator of any provision of the Operating Partnership Plan shall be final and conclusive.

  • The Plan shall be effective as of April 24, 1997, the date of final approval of the Company Plan by the Board of Trustees and of the Operating Partnership Plan by the Board of Directors.

  • The Plan Administrator shall have such powers and authorities related to the administration of the Operating Partnership Plan as are consistent with the agreement of limited partnership of the Operating Partnership and applicable law.

  • The Operating Partnership Plan shall -------------------------- be administered by the Company Committee.

  • Set forth herein are all of the terms of the three plans comprising the Plan, one for the benefit of the employees of Host Marriott Corporation (the Host REIT Plan), one for the benefit of the employees of Host Marriott, L.P., (the Operating Partnership Plan), and one for the benefit of the employees of any Subsidiary of Host Marriott Corporation or Host Marriott, L.P. (the Subsidiary Company’s Plan).