MIP Equity definition

MIP Equity means the restricted stock units, options, New Common Shares, or other rights, as applicable, exercisable, exchangeable, or convertible into New Common Shares representing up to 10% of the New Common Shares, determined on a fully diluted and fully distributed basis and assuming the exercise of all of the New Warrants, which is reserved for distribution to participants in the Management Incentive Plan.

MIP Equity means any equity that may be issued pursuant to the Management Incentive Plan, to the extent provided for thereunder.

MIP Equity means eight percent (8%) of the New Common Equity on a fully-diluted basis, which shall be in the form of New Class A Common Stock, reserved for issuance by the New Board for the benefit of the MIP Participants and shall be dilutive of all other New Common Equity issued in connection with the Restructuring Transactions.

Examples of MIP Equity in a sentence

• Within 120 days following the Effective Date, the New Board shall adopt a management incentive plan that provides for the issuance of the MIP Equity to employees and directors of the Reorganized Debtors.

• Notwithstanding anything in this Plan to the contrary, the New Common Stock issued in connection with the Equity Rights Offering shall be subject to dilution by the New MIP Equity.

• Any shares of New MIP Equity shall dilute equally the shares of New Common Stock otherwise distributed pursuant to this Plan (including, without limitation, pursuant to or in connection with the Equity Rights Offering).

• No adjustment to the Exercise Price or the number of Warrant Shares for which the Warrants are exercisable need be made upon the issuance of any MIP Equity pursuant to the Management Incentive Plan.

• The shares of New Common Stock offered pursuant to the Equity Rights Offering (for the avoidance of doubt, not including any shares of New Common Stock issued in connection with the Backstop Commitment Premium) will represent approximately 30% of the New Common Stock outstanding on the Effective Date, subject to dilution by the MIP Equity Pool.

More Definitions of MIP Equity

MIP Equity means the New Common Stock, options, and/or other equity-based awards issued pursuant to or in connection with the Management Incentive Plan.

MIP Equity means equity-based awards (including stock options, restrictedstock units, Reorganized Unit Corp. Interests, or other rights exercisable, exchangeable, or convertible into Reorganized Unit Corp. Interests) representing 7% of the Reorganized Unit Corp. Interests on a fully diluted basis to be reserved under the Management Incentive Plan for grants made from time to time to directors, officers, or other management and employees of the Reorganized Debtors, in a form, amounts, and times to be determined by the New Board.

MIP Equity means the New Equity Interests (or restricted stock units, options, or other rights exercisable, exchangeable, or convertible into such New Equity Interests), issued pursuant to or in connection with the Management Incentive Plan.

MIP Equity means any New Common Stock that may be issued pursuant to the Management Incentive Plan, to the extent provided for thereunder, which shall dilute all New Common Stock equally.

MIP Equity means the Fully Diluted Shares that may be issued pursuant to the Management Incentive Plan, to the extent provided for thereunder.

MIP Equity means the New Common Equity Interests issued pursuant to or in connection with the Management Incentive Plan.

MIP Equity has the meaning set forth in the Plan.