LTIP Awards. LTIP Units may, in the sole discretion of the Managing Member, be issued subject to vesting, forfeiture and additional restrictions on transfers pursuant to the terms of the OPP. The terms of the OPP may be modified by the Managing Member from time to time in its sole discretion, subject to any restrictions on amendment imposed by the OPP. LTIP Units that have vested under the terms of the OPP are referred to as “Vested LTIP Units”; all other LTIP Units shall be treated as “Unvested LTIP Units.”
Appears in 7 contracts
Samples: Limited Liability Company Agreement (RCS Capital Corp), Limited Liability Company Agreement (RCS Capital Corp), Limited Liability Company Agreement (RCS Capital Corp)
