MAC Carried Interest Sample Clauses

MAC Carried Interest. As additional consideration for Employee entering into this Agreement and the covenants and other undertakings of Employee set forth in this Agreement Employee shall be admitted as a limited partner in the entity or entities (each, a “MAC Carry Vehicle”) entitled to receive any performance fee, performance allocation, carried interest, promote, or other performance-based compensation payable to or receivable in respect of the GCM Grosvenor Multi-Asset Class Fund II, L.P. and any similar subsequent Employer multi-asset class funds (other than MCG Altscape Fund, L.P.) managed by the investment department currently known as Employer’s “Strategic Investment Group” (collectively, “MAC Carried Interest”). While Employee is actively employed with Employer, Employee shall be entitled to an allocation of 10% of the total MAC Carried Interest allocated to all partners (including the general partner) or other owners of the MAC Carry Vehicle, subject to all the terms and conditions set forth in the governing documents of the applicable MAC Carry Vehicle (including any terms relating to vesting or forfeiture); provided, however, that: (x) if the Trigger Event (defined in §9(l) below) does not occur on or before March 31, 2019, Employee shall be entitled to a MAC Carried Interest award in the calendar year of 2019 and all unvested MAC Carried Interest awarded prior to December 31, 2019 shall fully vest on December 31, 2019 (irrespective of any termination of employment by Employee pursuant to §6(c) hereof); (y) if the Trigger Event does not occur on or before March 31, 2020, Employee shall be entitled to a MAC Carried Interest award in the calendar year of 2020 and all unvested MAC Carried Interest awarded prior to December 31, 2020 shall fully vest on December 31, 2020 (irrespective of any termination of employment by Employee pursuant to §6(c) hereof) and (z) if Employee’s employment is terminated by Employer pursuant §6(a) or §6(c), all unvested MAC Carried Interest awarded prior to such termination shall vest upon the effective date of such termination. Employer and Employee shall execute, or cause to be executed, such documentation as is required to carry out the purposes of this § 5(a)(vi).
Sample 1
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Related to MAC Carried Interest

  • Percentage Interest Ownership of the Company shall be divided into, represented by, and each Member’s Percentage Interest shall be expressed in Units of the Company. The name, address, Units and Percentage Interest of each Member are set forth on Exhibit “A” attached hereto, which may be amended from time to time as necessary to reflect changes in the Percentage Interests and Units held by the Members.

  • Deferred Interest Not applicable.

  • Percentage Interests If the number of outstanding Partnership Units increases or decreases during a taxable year, each Partner’s Percentage Interest shall be adjusted by the General Partner effective as of the effective date of each such increase or decrease to a percentage equal to the number of Partnership Units held by such Partner divided by the aggregate number of Partnership Units outstanding after giving effect to such increase or decrease. If the Partners’ Percentage Interests are adjusted pursuant to this Section 4.6, the Profits and Losses for the taxable year in which the adjustment occurs shall be allocated between the part of the year ending on the day when the adjustment occurs and the part of the year beginning on the following day either (i) as if the taxable year had ended on the date of the adjustment or (ii) based on the number of days in each part. The General Partner, in its sole and absolute discretion, shall determine which method shall be used to allocate Profits and Losses for the taxable year in which the adjustment occurs. The allocation of Profits and Losses for the earlier part of the year shall be based on the Percentage Interests before adjustment, and the allocation of Profits and Losses for the later part shall be based on the adjusted Percentage Interests.

  • Scheduled Interest The Borrower shall pay interest on the unpaid principal amount of each Advance owing to each Lender from the date of such Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Capital Contributions; Percentage Interest The Members shall make contributions to the Company in an amount approved by the Members. No Member shall be required or permitted to make any additional contributions without the consent of all of the Members. The percentage interest of each Member in the Company shall be as set forth in the books and records of the Company, as amended from time to time by Managing Member consent.

  • Partnership Interest Except as provided in this Agreement and the Transferor Partnership Agreement, no right (contingent or otherwise) to purchase or acquire the Transferor Partnership Interests held by such Transferor Partner is authorized or outstanding. Except as disclosed on Schedule 5.34, such Transferor Partner owns and holds the Transferor Partnership Interests set forth opposite its name on Schedule I beneficially and of record free and clear of any liens, pledges and encumbrances of any kind whatsoever and free of any rights of assignment of any third party. Prior to the Closing, all liens disclosed on Schedule 5.34 will be paid in full. Upon the Closing, good, valid, marketable, and indefeasible title to such Transferor Partnership Interests shall be vested in the BRI Partnership free and clear of any lien, claim, charge, pledge, encumbrance, limitation, agreement or instrument whatsoever. The provisions of this Section 5.34 shall survive the Closing indefinitely.

  • Late Charge; Interest Tenant acknowledges that the late payment of Base Rent or any other amounts payable by Tenant to Landlord hereunder (all of which shall constitute additional rental to the same extent as Base Rent) will cause Landlord to incur administrative costs and other damages, the exact amount of which would be impracticable or extremely difficult to ascertain. Landlord and Tenant agree that if Landlord does not receive any such payment on or before five (5) days after the date the payment is due, Tenant shall pay to Landlord, as additional rent, (a) a late charge equal to five percent (5%) of the overdue amount to cover such additional administrative costs; and (b) interest on the delinquent amounts at the lesser of the maximum rate permitted by law if any or twelve percent (12%) per annum from the date due to the date paid.

  • General Partnership Interest A number of Partnership Units held by the General Partner equal to one percent (1%) of all outstanding Partnership Units shall be deemed to be the General Partner Partnership Units and shall be the General Partnership Interest. All other Partnership Units held by the General Partner shall be Limited Partnership Interests and shall be held by the General Partner in its capacity as a Limited Partner in the Partnership.

  • Certificates Describing Partnership Units At the request of a Limited Partner, the General Partner, at its option, may issue a certificate summarizing the terms of such Limited Partner's interest in the Partnership, including the number of Partnership Units owned and the Percentage Interest represented by such Partnership Units as of the date of such certificate. Any such certificate (i) shall be in form and substance as approved by the General Partner, (ii) shall not be negotiable and (iii) shall bear the following legend: This certificate is not negotiable. The Partnership Units represented by this certificate are governed by and transferable only in accordance with the provisions of the Agreement of Limited Partnership of United Dominion Realty, L.P., as amended from time to time.

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