Common use of Qualified Termination Clause in Contracts

Qualified Termination. If the calculations provided in Section 3(b) hereof are triggered by the Qualified Termination of the Grantee, then the Earned Award LTIP Units calculated pursuant to Section 3(b) hereof shall be multiplied by the Partial Service Factor (with the resulting number being rounded to the nearest whole LTIP Unit or, in the case of 0.5 of a unit, up to the next whole unit), and such adjusted number of LTIP Units shall be deemed the Grantee’s Earned Award LTIP Units for all purposes under this Agreement (including with respect to the calculation of Earned Dividend LTIP Units).