Vested LTIP Units definition

Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

Vested LTIP Units has the meaning set forth in Section 16.2.A hereof.

Vested LTIP Units means Earned LTIP Units that have satisfied the time-based or accelerated vesting requirements of an Award Agreement.

Examples of Vested LTIP Units in a sentence

• An LTIP Unitholder may give a Notice of Conversion with respect to Unvested LTIP Units, provided that such Unvested LTIP Units become Vested LTIP Units on or prior to the Conversion Date.

• Any attempted Transfer not in accordance with the terms and conditions of this Section 7 shall be null and void, and neither the Partnership nor the Company shall reflect on its records any change in record ownership of any Vested LTIP Units as a result of any such Transfer, shall otherwise refuse to recognize any such Transfer and shall not in any way give effect to any such Transfer.

• A Conversion Notice shall be provided in the manner provided in Section 15.1. Each LTIP Unitholder covenants and agrees with the Partnership that all Vested LTIP Units to be converted pursuant to this Section 4.7B shall be free and clear of all liens and encumbrances.

• An LTIP Unitholder shall have the right (the “Conversion Right”), at his or her option, at any time to convert all or a portion of his or her Vested LTIP Units into fully paid and non-assessable OP Units; provided, however, that a holder may not exercise the Conversion Right for fewer than [ ] Vested LTIP Units or, if such holder holds fewer than [ ] Vested LTIP Units, all of the Vested LTIP Units held by such holder.

• Notwithstanding the foregoing, in no event may a holder of Vested LTIP Units convert a number of Vested LTIP Units that exceeds (x) the Economic Capital Account Balance of such Limited Partner, to the extent attributable to its ownership of LTIP Units, divided by (y) the OP Unit Economic Balance, in each case as determined as of the effective date of conversion (the “Capital Account Limitation”).

More Definitions of Vested LTIP Units

Vested LTIP Units means those Earned LTIP Units that have fully vested in accordance with the time-based vesting conditions of Section 3(d) or have vested on an accelerated basis under Section 4.

Vested LTIP Units means any portion of the Award LTIP Units subject to this Agreement that is and has become vested pursuant to Section 2.

Vested LTIP Units shall have the meaning set forth in Section 1.2 of Schedule H hereto.

Vested LTIP Units has the meaning set forth in Section 1.2 of Exhibit C hereto.

Vested LTIP Units has the meaning set forth in Section 3(a) hereof.

Vested LTIP Units has the meaning set forth in Section 13.01(c)(i) hereof.

Vested LTIP Units means those LTIP Units that have fully vested in accordance with the vesting conditions of Section 3(b) or have vested on an accelerated basis under Section 4.