LTIP Units

LTIP Units. Means phantom or notional interests granted hereunder that are economically equivalent to shares of Stock and that, once vested, entitle the Grantee to payment pursuant to the terms of this Agreement of a number of actual shares of Stock determined pursuant to Section 5, below. The number of 'LTIP Units' granted to you as Grantee under this Agreement is %%TOTAL_SHARES_GRANTED,'999,999,999'%-%.Capitalized terms used herein without definition have the meanings ascribed to such terms in the Plan.... Except where the context clearly implies or indicates the contrary, a word, term, or phrase used in the Plan is similarly used in this Agreement. View More

LTIP Units. The special units of partnership interest of the Operating Partnership having the rights, preferences and other privileges designated in Section 4.04 and elsewhere in the OP Agreement.