Common use of Tranche A Restricted Units Clause in Contracts

Tranche A Restricted Units. In the event of an Initial Public Offering, the Tranche A Restricted Units shall vest in accordance with the following schedule: 20% of the Tranche A Restricted Units shall vest on each of the first five (5) anniversaries of the Date of Grant that occurs prior to the Initial Public Offering and thereafter. Vesting of the Tranche A Restricted Units is conditioned and contingent upon at least 50% of the Units originally acquired by the Investors (determined on an aggregate basis) having been disposed of to one or more Independent Third Parties, including pursuant to any public offerings, whether before or after the Initial Public Offering.