OP Total Return

OP Total Return. For any period since the end of the prior calendar year shall equal the sum of: (i) all Distributions accrued or paid (without duplication) on the Performance Units outstanding at the end of such period since the beginning of the then-current calendar year plus (ii) the change in aggregate OP NAV of such Performance Units since the beginning of such year, before giving effect to (x) changes resulting solely from the proceeds of issuances of Performance Units, and (y) any allocation or accrual... to the OP Performance Fee. For the avoidance of doubt, the calculation of OP Total Return will (i) include any appreciation or depreciation in the OP NAV of Performance Units issued during the then-current calendar year but (ii) exclude the proceeds from the initial issuance of such Performance Units. View More