Common use of Forfeiture of Operating Units Clause in Contracts

Forfeiture of Operating Units. A Management Member’s Operating Units shall be subject to forfeiture in accordance with the schedule in Section 7.2 hereof if he or she becomes an Inactive Management Member before the fifth anniversary of the issuance date of the Operating Units.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (CVR Energy Inc), Limited Liability Company Agreement (CVR Energy Inc), Limited Liability Company Agreement (CVR Energy Inc)

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Forfeiture of Operating Units. A Management Member’s Operating Units shall be subject to forfeiture in accordance with the schedule in Section 7.2 hereof if he or she becomes an Inactive Management Member before the fifth anniversary of the issuance date Issuance Date of the Operating Units.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (CVR Energy Inc), Limited Liability Company Agreement (CVR Energy Inc), Limited Liability Company Agreement (CVR Energy Inc)

Forfeiture of Operating Units. A Management Member’s Operating Units shall be subject to forfeiture on a pro-rata basis in accordance with the schedule in Section 7.2 8.2 hereof if he or she becomes an Inactive Management Member before the fifth third anniversary of the issuance date of the such Member's Operating Units.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Carbuyco, LLC), Limited Liability Company Agreement (Adesa California, LLC)

Forfeiture of Operating Units. A Management Member’s Operating Units shall be subject to forfeiture on a pro-rata basis in accordance with the schedule in Section 7.2 hereof if he or she becomes an Inactive Management Member before the fifth third anniversary of the issuance date of the Operating Units.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Del Pharmaceuticals, Inc.)

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Forfeiture of Operating Units. A Management Member’s Operating Units shall be subject to forfeiture on a pro-rata basis in accordance with the schedule in Section 7.2 8.2 hereof if he or she becomes an Inactive Management Member before the fifth third anniversary of the issuance date of the such Member’s Operating Units.

Appears in 1 contract

Samples: Limited Liability Company Agreement (IAA Acquisition Corp.)

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