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 The amount by which the interest due on a Mortgage exceeds the borrower’s monthly payment, which amount is added to the unpaid principal balance of the Mortgage.

  • 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:

  • OWNERSHIP CERTIFICATES AND DISCLOSURE OF THE FUND'S INTEREST The Custodian is hereby authorized to execute on behalf of the Fund ownership certificates, affidavits or other disclosure required under Applicable Law or established market practice in connection with the receipt of income, capital gains or other payments by the Fund with respect to Investments, or in connection with the sale, purchase or ownership of Investments. With respect to securities issued in the United States of America, the Custodian [ ] may [ ] may not release the identity of the Fund to an issuer which requests such information pursuant to the Shareholder Communications Act of 1985 for the specific purpose of direct communications between such issuer and the Fund. IF NO BOX IS CHECKED, THE CUSTODIAN SHALL RELEASE SUCH INFORMATION UNTIL IT RECEIVES CONTRARY INSTRUCTIONS FROM THE FUND. With respect to securities issued outside of the United States of America, information shall be released in accordance with law or custom of the particular country in which such security is located.

  • Calculating Interest Assume that you have a single interest rate of 15.99%, your ADB is $2,250 and there are 30 days in the billing period.

  • 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.

  • Insurable Interest To the extent that Purchaser may have any equitable or insurable interest in the Property, Purchaser will take appropriate steps to protect the same. Notwithstanding the foregoing, should the Property be damaged by calamity after the date hereof, but before Closing, Seller, may, at the Seller’s sole option, declare this Agreement null and void, and, on the return of the Deposit to Purchaser, the parties shall have no further liability to each other.

  • 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 a legend to the following effect: 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 Second Amended and Restated Limited Partnership Agreement of Strategic Storage Operating Partnership, L.P., as amended from time to time.

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