LTIP Unit Distribution Participation Date Clause Samples

The LTIP Unit Distribution Participation Date clause defines the specific date from which holders of LTIP (Long-Term Incentive Plan) units become eligible to receive distributions, such as dividends or profit shares, associated with those units. In practice, this clause establishes a clear starting point for when LTIP unit holders participate in the economic benefits of the plan, which may be set as the date of grant, vesting, or another specified milestone. By clearly identifying this participation date, the clause ensures transparency and prevents disputes over entitlement to distributions, thereby protecting both the company and the unit holders.
LTIP Unit Distribution Participation Date. The "LTIP Unit Distribution Participation Date" for each LTIP Unit will be (i) with respect to LTIP Units granted pursuant to The Macerich Company 2006 Long-Term Incentive Plan (the "2006 LTIP Plan"), the Effective Date (as defined in the Vesting Agreement of each Person granted LTIP Units under the 2006 LTIP Plan) or (ii) with respect to other LTIP Units, such date as may be specified in the Vesting Agreement or other documentation pursuant to which such LTIP Units are issued.
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LTIP Unit Distribution Participation Date. The “LTIP Unit Distribution Participation Date” for each LTIP Unit will be with respect to LTIP Units granted pursuant to the 2013 Stock Plan or any successor incentive plan thereto and any stock plan, award, plan or other agreement, including without limitation, the Class A 2016 LTIP Units Award annexed hereto as Exhibit A and the Class B 2016 LTIP Units Award annexed hereto as Exhibit B, pursuant to which an LTIP Unit was issued (each, “Stock Plan”), such date as may be specified in the Vesting Agreement or other documentation pursuant to which such LTIP Units are issued.
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LTIP Unit Distribution Participation Date. The “LTIP Unit Distribution Participation Date” for each LTIP Unit will be with respect to LTIP Units granted pursuant to the 2013 Stock Plan or any successor incentive plan thereto and any stock plan, award, plan or other agreement, including without limitation, the Class A 2016 LTIP Units Award annexed hereto as Exhibit A and the Class B 2016 LTIP Units Award annexed hereto as Exhibit B, pursuant to which an LTIP Unit was issued (each, “Stock Plan”), such date as may be specified in the Vesting Agreement or other documentation pursuant to which such LTIP Units are issued.
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Related to LTIP Unit Distribution Participation Date

  • Pro Rata Distributions During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, that, to the extent that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

  • Percentage Interest Ownership of the Company shall be divided into, represented by, and each Member’s Percentage Interest shall be expressed in Units of the Company. The name, address, Units and Percentage Interest of each Member are set forth on Exhibit “A” attached hereto, which may be amended from time to time as necessary to reflect changes in the Percentage Interests and Units held by the Members.

  • Original Class A Percentage Section 11.05 Original Principal Balances of the Classes of Class A Certificates............................................

  • Class B Units Class B Unitholders shall not be entitled to vote in any matters relating to the Company, unless otherwise reserved to the Members by the Act. In addition to the other rights and obligations of Class B Unitholders hereunder, Class B Units shall entitle the holder of such Class B Units to (i) Tax Distributions pursuant to Section 4.01(b), and (ii) a preferred return equal to the Class B Preferred Return Amount. The Class B Preferred Return Amount shall not be required to be paid annually but shall accrue and become payable at the earlier of (x) the fifth (5th) anniversary of the Effective Time, or (y) a liquidation of, or a taxable sale of substantially all of the assets of, the Company. Upon the occurrence of an event referenced in clause (y) above, each Class B Unitholder shall also be paid such Class B Unitholder’s Class B Preferred Return Base Amount, in addition to all of the outstanding, accrued and unpaid Class B Preferred Return Amount. On the seventh (7th) anniversary of the Effective Time, each Class B Unitholder may, at its option and in accordance with the notice and other procedural provisions set forth in Section 11.01(a) (the “7 Year Put Option”), sell all (but not less than all) of its Class B Units to the Company for an amount equal to such Class B Unitholder’s Class B Preferred Return Base Amount plus any outstanding and accrued Class B Preferred Return Amount of such Class B Unitholder (the “Class B Option Consideration”) and, upon the exercise of the 7 Year Put Option by any Class B Unitholder, the Company shall purchase all of such holder’s Class B Units for the Class B Option Consideration. Notwithstanding anything herein to the contrary, no Class B Preferred Return Amount shall be due and payable with respect to such Class B Units pursuant this Section 3.02(b) at such time or times specified in this Section 3.02(b) unless such Class B Units remain issued and outstanding at such time or times and no Redemption or Direct Exchange of such Class B Units described in Article XI hereof has occurred.