Examples of Incentive Units in a sentence
Each holder of Class C Common Incentive Units agrees to take into account such distributive share in computing its U.S. federal income tax liability for the entire period during which it holds any Class C Common Incentive Unit (or portion thereof).
At the Effective Date, the Units will be comprised of Common Units and Class C Common Incentive Units.
In addition to grantees of Incentive Units admitted as additional Members pursuant to Section 3.1(c), additional Members may be admitted to the Company upon signing a joinder agreement to this Agreement on such terms and conditions as may be approved by the Board and, as applicable, the Members.
If the Board determines that Net Cash Flow is available for distribution, it shall cause the Company to distribute such Net Cash Flow among the Members in proportion to their relative ownership of Units other than Incentive Units.
Whenever Incentive Units are granted, the Capital Account balances of all Members will be adjusted, immediately before such grant becomes effective, to equal in the aggregate the Fair Market Value of the Company as of such date.