Target FFO definition

Target FFO means $xxx per common share.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Target FFO means Actual FFO Per Share equal to $4.29 with respect to fiscal year 2001 and, with respect to each fiscal year thereafter, shall mean Actual FFO Per Share equal to the lesser of (x) the product of $4.29 times 1.1N, where “N” is equal to 1 with respect to fiscal year 2002 plus an additional 1 for each fiscal year thereafter, and (y) 110% of the Actual FFO Per Share applicable to the immediately preceding fiscal year; provided, however, that if the Compensation Committee determines that Actual FFO Per Share is no longer an appropriate corporate performance parameter for establishing management objectives or that the applicable target levels are no longer feasible in light of factors or circumstances outside of the Partnership’s or the General Partner’s control (such as general economic conditions, legal/regulatory changes, war or similar events), it may, in its reasonable good faith discretion without any consent or other action on the part of the Series Z Partners or any other Partners of the Partnership, revise and amend this definition of Target FFO (and any definitions involved herein) to reflect one or more different or additional parameters, objectives or performance measures, so long as the Compensation Committee, in its reasonable good faith discretion, determines that the revised or amended definition is, considered as a whole, comparable as a means for analyzing the performance of the Partnership and incentivizing the Series Z Partners (it being understood that such amended or restated definition shall not be more difficult to achieve than the present requirements of this definition).

Target FFO means Actual FFO Per Share equal to $4.29 with ---------- respect to fiscal year 2001 and, with respect to each fiscal year thereafter, shall mean Actual FFO Per Share equal to the lesser of (x) the product of $4.29 times 1.1N, where "N" is equal to 1 with respect to fiscal year 2002 plus an additional 1 for each fiscal year thereafter, and (y) 110% of the Actual FFO Per Share applicable to the immediately preceding fiscal year; provided, however, that if the Compensation Committee -------- ------- determines that Actual FFO Per Share is no longer an appropriate corporate performance parameter for establishing management objectives or that the applicable target levels are no longer feasible in light of factors or circumstances outside of the Partnership's or the General Partner's control (such as general economic conditions, legal/regulatory changes, war or similar events), it may, in its reasonable good faith discretion without any consent or other action on the part of the Series Z Partners or any other Partners of the Partnership, revise and amend this definition of Target FFO (and any definitions involved herein) to reflect one or more different or additional parameters, objectives or performance measures, so long as the Compensation Committee, in its reasonable good faith discretion, determines that the revised or amended definition is, considered as a whole, comparable as a means for analyzing the performance of the Partnership and incentivizing the Series Z Partners (it being understood that such amended or restated definition shall not be more difficult to achieve than the present requirements of this definition).

Examples of Target FFO in a sentence

• Redemptions in accordance with the immediately preceding sentence shall continue until the FFO Increase for any Interim Measurement Date equals or exceeds the Target FFO.

• Unless the Committee determines otherwise with respect to any Participant in the Plan prior to the Plan Year in which such Participant first is designated as a Participant in the Plan, the Target FFO shall be equal to an increase of FFO of 100%.

• If the Final FFO is less than the Target FFO, but equal to or greater than the Second FFO Threshold, a Redemption Event will occur and 55% (or such other percentage as determined by the Committee prior to the Plan Year in which the Employee first becomes a Participant in the Plan) of the Units subject to the Participant’s Target Unit will be redeemed, plus an additional 1.5% will be redeemed for each 1% that the Final FFO exceeds the Second FFO Threshold, in accordance with Section 8.1.

• Once the Target FFO is met for the Participant, no additional redemptions will occur as a result of this Section 7.2.4. No fractional Units will be redeemed under this Section 7.2 and in the event of a fractional Unit, the Units that will be redeemed will be rounded down to the nearest whole Unit.

• If the Final FFO is equal to or greater than the Target FFO, a Redemption Event will occur and 100% of the Units subject to the Participant’s Target Unit will be redeemed in accordance with Section 8.1.

• As soon as administratively practicable after the end of the Performance Period, the Committee shall determine the FFO Increase for the Final Measurement Date; provided, however, that if the Target FFO was met on any Interim Measurement Date as provided in Section 7.2 below this Section 7.1 shall not apply.

• As soon as administratively practicable after the end of any Interim Measurement Date, the Committee shall determine the FFO Increase for the Interim Measurement Date; provided, however, that if the Target FFO was met on any prior Interim Measurement Date no further determinations are necessary under this Section 7.2. The FFO Increase will determine whether all or any portion of the Participant’s Target Unit will be redeemed after such Interim Measurement Date.

More Definitions of Target FFO

Target FFO means $___ per common share.

Target FFO means the percentage increase in the FFO during the Performance Period has equaled or exceeded the amount described in Section 6.5 of the Plan.

Target FFO is deleted in its entirety.

Target FFO means $____ per common share.

Target FFO means target FFO established by the Committee early in each calendar year within the Performance Period, as subsequently adjusted by the Committee to take changes in original underlying assumptions and circumstances into account.

Target FFO for an Earn-Out Period means the amount of Adjusted FFO that is required to earn the Maximum Earn-Out Units for such Earn-Out Period pursuant to Section 2.2(b)(i).