Distribution Equivalents

Distribution Equivalents contract clause examples

Distribution Equivalents. The Performance Share Units held by the Grantee on a distribution payment date will not be credited with distribution equivalents at such time as distributions, whether in the form of cash, Shares or other property, are paid with respect to the Shares. However, if the performance goals set forth on Appendix A cease to apply to the vesting of any of the Performance Share Units as provided in clause (ii) of the last sentence of Section 2(g), below, then, from and after such cessation, any such Performance Share Units held by the Grantee on a distribution payment date will be credited with distribution equivalents at such time as distributions, whether in the form of cash, Shares or other property, are paid with respect to the Shares. Any such distribution equivalents shall be paid on the distribution payment date to the Grantee as though such Performance Share Units were outstanding Shares.

Distribution Equivalents. The Performance Share Units held by the Grantee on a distribution payment date will not be credited with distribution equivalents at such time as distributions, whether in the form of cash, Shares or other property, are paid with respect to the Shares. However, if the performance goals set forth on Appendix A cease to apply to the vesting of any of the Performance Share Units as provided in clause (ii) of the last sentence of Section 2(g), below, then, from and after such cessation, any such Performance Share Units held by the Grantee on a distribution payment date will be credited with distribution equivalents at such time as distributions, whether in the form of cash, Shares or other property, are paid with respect to the Shares. Any such distribution equivalents shall be paid on the distribution payment date to the Grantee as though such Performance Share Units were outstanding Shares.

Distribution Equivalents. The Grantee shall be entitled to the crediting of a Distribution Equivalent to the book account as of each date (a “Distribution Date”) on which cash distributions and/or special distributions are paid with respect to Shares, provided that the record date with respect to such distribution occurs within the Restricted Period. Upon the lapse of restrictions as provided in Section 2(b), unless otherwise determined by the Board at the time of payment such Distribution Equivalents shall be paid in the form (whether in cash, Shares or other property) as distributions are paid to the Trust’s shareholders and shall equal the product of (x) the number of Restricted Share Units credited to such account on the record date for such distribution and (y) the per Share distribution payable on such Distribution Date.

Distribution Equivalents. The Performance Share Units held by the Grantee on a distribution payment date will not be credited with distribution equivalents at such time as distributions, whether in the form of cash, Shares or other property, are paid with respect to the Shares. However, if the performance goals set forth on Appendix A cease to apply to the vesting of any of the Performance Share Units as provided in clause (ii) of the last sentence of Section 2(g), below, then, from and after such cessation, any such Performance Share Units held by the Grantee on a distribution payment date will be credited with distribution equivalents at such time as distributions, whether in the form of cash, Shares or other property, are paid with respect to the Shares. Any such distribution equivalents shall be paid on the distribution payment date to the Grantee as though such Performance Share Units were outstanding Shares.

Distribution Equivalents. The Grantee shall be entitled to the crediting of a Distribution Equivalent to the book account as of each date (a “Distribution Date”) on which cash distributions and/or special distributions are paid with respect to Shares, provided that the record date with respect to such distribution occurs within the Restricted Period. Upon the lapse of restrictions as provided in Section 2(b), unless otherwise determined by the Board at the time of payment such Distribution Equivalents shall be paid in the form (whether in cash, Shares or other property) as distributions are paid to the Trust’s shareholders and shall equal the product of (x) the number of Restricted Share Units credited to such account on the record date for such distribution and (y) the per Share distribution payable on such Distribution Date. Any such distribution equivalents shall be paid on the distribution payment date to the Grantee as though such Restricted Share Units were outstanding Shares.

Distribution Equivalents. The Performance Share Units held by the Grantee on a distribution payment date will not be credited with distribution equivalents at such time as distributions, whether in the form of cash, Shares or other property, are paid with respect to the Shares.

Distribution Equivalents. The Grantee shall be entitled to a Distribution Equivalent as of each date (a “Distribution Date”) on which cash distributions and/or special distributions are paid with respect to Shares, provided that the record date with respect to such distribution occurs within the Restricted Period. The Distribution Equivalents shall be paid on the Distribution Date as to the Grantee as though such Restricted Share Units were outstanding Shares and shall equal the product of (x) the number of Restricted Share Units held on the record date for such distribution and (y) the per Share distribution payable on such Distribution Date.

Distribution Equivalents. The Grantee shall be entitled to the crediting of a Distribution Equivalent to the book account as of each date (a “Distribution Date”) on which cash distributions and/or special distributions are paid with respect to Shares, provided that the record date with respect to such distribution occurs within the Restricted Period. Upon the lapse of restrictions as provided in Section 2(b), unless otherwise determined by the Board at the time of payment, such Distribution Equivalents shall be paid in the form (whether in cash, Shares or other property) as distributions are paid to the Trust’s shareholders and shall equal the product of (x) the number of Restricted Share Units credited to such account on the record date for such distribution and (y) the per Share distribution payable on such Distribution Date. Any such distribution equivalents shall be paid on the distribution payment date to the Grantee as though such Restricted Share Units were outstanding Shares.

Distribution Equivalents. The Grantee shall be entitled to the crediting of a Distribution Equivalent to the book account as of each date (a “Distribution Date”) on which cash distributions and/or special distributions are paid with respect to Shares, provided that the record date with respect to such distribution occurs within the Restricted Period. Upon the lapse of restrictions as provided in Section 2(b), unless otherwise determined by the Board at the time of payment such Distribution Equivalents shall be paid in the form (whether in cash, Shares or other property) as distributions are paid to the Trust’s shareholders and shall equal the product of (x) the number of Restricted Share Units credited to such account on the record date for such distribution and (y) the per Share distribution payable on such Distribution Date.

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