Common use of Forfeiture of Restricted Units Clause in Contracts

Forfeiture of Restricted Units. (a) If the Participant experiences a Termination Event by reason of such Person’s: (i) conviction of, or plea of nob contendere to, any felony or other crime or offense causing substantial harm to the Company or its Affiliates or involving acts of theft, fraud, embezzlement, moral turpitude, or similar conduct; (ii) repeated intoxication by alcohol or drugs while performing such Person’s duties in a manner that materially and adversely affects such performance; (iii) malfeasance, in the conduct of such Person’s duties, including, but not limited to, (A) misuse or diversion of funds or property of the Company or its Affiliates, (B) embezzlement, or (C) misrepresentations or concealments, including without limitation on any written reports submitted to the Company or its Affiliates; (iv) material violation of any provision of this Agreement; or (v) failure to perform such Person’s duties or failure to follow or comply with the reasonable and lawful written directives of the Manager, in either case contemplated in this clause (v) after such Person has received written notice of such material failure (“Cause”), then on the Termination Date, the Participant shall forfeit to the Company without consideration all of the Restricted Units (including Restricted Units that remain Unvested Restricted Units and Restricted Units that have become Vested Restricted Units) and all rights arising from such Restricted Units and from being a holder of such Restricted Units (including the rights to any Retained Distributions). The forfeiture of Restricted Units subject to the terms and conditions of this Section 5(a) shall occur immediately and without further action of the Company, the Participant, or any other person upon the termination giving rise to such forfeitures.

Forfeiture of Restricted Units. If a Forfeiture Event occurs, then Executive shall, for no consideration, automatically forfeit to the Company as of the date such event occurs all then Restricted Units and Earned Units of Executive on such date, and neither the Executive nor any of his successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in such Restricted Units or Earned Units or the certificates representing such Restricted Units and Earned Units; provided, however, if such Forfeiture Event is termination of Executive’s employment (aA) If the Participant experiences a Termination Event by reason of death or disability or (B) by the Company or any of its Affiliates without Cause, then for all purposes of this Agreement, such Person’s: Forfeiture Event shall be suspended and shall not be deemed to occur until the 180th day after the date of such termination unless during such 180-day period (ix) conviction of, or plea of nob contendere to, Executive shall breach in any felony or other crime or offense causing substantial harm material respect any confidentiality obligation to the Company or any of its Affiliates or involving acts (y) any of theft, fraud, embezzlement, moral turpitude, or similar conduct; the events described in clause (ii) repeated intoxication by alcohol of the definition of “Cause” shall occur or drugs while performing such Person’s duties in a manner that materially and adversely affects such performance; (iii) malfeasanceshall be discovered to have occurred, in the conduct of such Person’s duties, including, but not limited to, which case (A1) misuse or diversion of funds or property of the Company or its Affiliates, (B) embezzlement, or (C) misrepresentations or concealments, including without limitation on any written reports submitted to the Company or its Affiliates; (iv) material violation of any provision for all purposes of this Agreement; or (v) failure , such Forfeiture Event shall be deemed to perform such Person’s duties or failure to follow or comply with have occurred on the reasonable and lawful written directives of the Manager, in either case contemplated in this clause (v) after such Person has received written notice date of such material failure termination and (“Cause”), then on the Termination Date, the Participant shall forfeit to the Company without consideration all of the Restricted Units (including Restricted Units that remain Unvested Restricted Units and Restricted Units that 2) any Granted Unit which otherwise would have become an Earned Unit or a Vested Unit during such suspension period shall be deemed to be a Restricted Unit for all purposes under this Agreement and, for the avoidance of doubt, shall (together with all other Restricted Units) and all rights arising from such Restricted Units and from being a holder of such Restricted Units (including the rights be forfeited to any Retained Distributions). The forfeiture of Restricted Units subject to the terms and conditions of this Section 5(a) shall occur immediately and without further action of the Company, the Participantfor no consideration, or any other person upon the termination giving rise to effective as of such forfeituresdate of termination.

Forfeiture of Restricted Units. (a) If a Forfeiture Event occurs, then Executive shall, for no consideration, automatically forfeit to the Participant experiences a Termination Partnership as of the date such event occurs all then Restricted Units of Executive on such date, and neither the Executive nor any of his successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in such Restricted Units or the certificates representing such Restricted Units; provided, however, if such Forfeiture Event is termination of Executive’s employment by reason the Company or any of its Affiliates without Cause, or by Executive for Good Reason, then for all purposes of this Agreement, such Forfeiture Event shall be suspended and shall not be deemed to occur until the 180th day after the date of such Person’s: termination unless, during such 180-day period, (ix) conviction of, or plea of nob contendere to, Executive shall breach in any felony or other crime or offense causing substantial harm material respect any confidentiality obligation to the Company or any of its Affiliates or involving acts (y) any of theft, fraud, embezzlement, moral turpitude, or similar conduct; the events described in clause (ii) repeated intoxication by alcohol or drugs while performing such Person’s duties in a manner that materially and adversely affects such performance; (iii) malfeasanceof the definition of “Cause” shall occur, in the conduct of such Person’s duties, including, but not limited to, which case (A1) misuse or diversion of funds or property of the Company or its Affiliates, (B) embezzlement, or (C) misrepresentations or concealments, including without limitation on any written reports submitted to the Company or its Affiliates; (iv) material violation of any provision for all purposes of this Agreement; or (v) failure , such Forfeiture Event shall be deemed to perform such Person’s duties or failure to follow or comply with have occurred on the reasonable and lawful written directives of the Manager, in either case contemplated in this clause (v) after such Person has received written notice date of such material failure termination (“Cause”), then on the Termination Date, the Participant shall forfeit but after giving effect to the Company without consideration all any Earned Units becoming Vested Units as a result of the Restricted Units such termination) and (including Restricted Units that remain Unvested Restricted Units and Restricted Units that 2) any Granted Unit which otherwise would have become an Earned Unit or a Vested Unit during such suspension period shall be deemed to be a Restricted Unit for all purposes under this Agreement and, for the avoidance of doubt, shall (together with all other Restricted Units) and all rights arising from such Restricted Units and from being a holder be forfeited to the Partnership, for no consideration, effective as of such Restricted Units (including the rights to any Retained Distributions). The forfeiture date of Restricted Units subject to the terms and conditions of this Section 5(a) shall occur immediately and without further action of the Company, the Participant, or any other person upon the termination giving rise to such forfeiturestermination.

Forfeiture of Restricted Units. (a) If a Forfeiture Event occurs, then Executive shall, for no consideration, automatically forfeit to the Participant experiences a Termination Partnership as of the date such event occurs all then Restricted Units of Executive on such date, and neither the Executive nor any of his successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in such Restricted Units or the certificates representing such Restricted Units; provided, however, if such Forfeiture Event is termination of Executive’s employment by reason the Company or any of its Affiliates without Cause, then for all purposes of this Agreement, such Forfeiture Event shall be suspended and shall not be deemed to occur until the 180th day after the date of such Person’s: termination unless, during such 180-day period, (ix) conviction of, or plea of nob contendere to, Executive shall breach in any felony or other crime or offense causing substantial harm material respect any confidentiality obligation to the Company or any of its Affiliates or involving acts (y) any of theft, fraud, embezzlement, moral turpitude, or similar conduct; the events described in clause (ii) repeated intoxication by alcohol or drugs while performing such Person’s duties in a manner that materially and adversely affects such performance; (iii) malfeasanceof the definition of “Cause” shall occur, in the conduct of such Person’s duties, including, but not limited to, which case (A1) misuse or diversion of funds or property of the Company or its Affiliates, (B) embezzlement, or (C) misrepresentations or concealments, including without limitation on any written reports submitted to the Company or its Affiliates; (iv) material violation of any provision for all purposes of this Agreement; or (v) failure , such Forfeiture Event shall be deemed to perform such Person’s duties or failure to follow or comply with have occurred on the reasonable and lawful written directives of the Manager, in either case contemplated in this clause (v) after such Person has received written notice date of such material failure termination (“Cause”), then on the Termination Date, the Participant shall forfeit but after giving effect to the Company without consideration all any Earned Units becoming Vested Units as a result of the Restricted Units such termination) and (including Restricted Units that remain Unvested Restricted Units and Restricted Units that 2) any Granted Unit which otherwise would have become an Earned Unit or a Vested Unit during such suspension period shall be deemed to be a Restricted Unit for all purposes under this Agreement and, for the avoidance of doubt, shall (together with all other Restricted Units) and all rights arising from such Restricted Units and from being a holder be forfeited to the Partnership, for no consideration, effective as of such Restricted Units (including the rights to any Retained Distributions). The forfeiture date of Restricted Units subject to the terms and conditions of this Section 5(a) shall occur immediately and without further action of the Company, the Participant, or any other person upon the termination giving rise to such forfeiturestermination.