Unvested Units. The term “Unvested Units” shall mean the number of such Units that are subject to any vesting, forfeiture or similar arrangement under this Agreement and have not become Vested Units.
Unvested Units. Any Units granted on the Award Date pursuant to this Agreement shall be considered Unvested Units for purposes of this Agreement and shall be subject to the Restrictions until such time or times and except to the extent that the Director’s ownership interest in Units vests in accordance with the Vesting Schedule set forth on the first page of this Agreement.
Unvested Units. To the extent that any distribution, other than a Tax Distribution, is to be made to a Member in respect of any Unvested Unit, such distribution shall be set aside for such Member to be distributed to such Member at the time that such Unit ceases to be an Unvested Unit. To the extent that such Unvested Unit shall be forfeited by or repurchased from such Member without having ceased to be an Unvested Unit, such distribution shall revert to the Company.
Unvested Units. The term “Unvested Units” means, with respect to Executive’s Class A-2 Units, Class B Units and Class C Units, the number of such Units that are not “Vested Units”.
Unvested Units. Following any vesting pursuant to this Section 2, any Stock Units which have not vested shall be retired and the Grantee shall have no further rights with respect to such Stock Units or the underlying Shares.
Unvested Units. If the Participant’s employment with the Company or any of its Subsidiaries is terminated by the Company or any such Subsidiary, if the Participant terminates employment with the Company or any of its Subsidiaries, or if the Participant dies or becomes disabled, the Participant shall immediately forfeit all of the Unvested Units previously granted to the Participant pursuant to this Agreement.
Unvested Units. The term “Unvested Units” shall have the meaning set forth in Section 2.5(b).
Unvested Units. If at the time any distribution (other than a Tax Distribution) is to be made in respect of any Unit pursuant to Section 3(a) while such Unit is an Unvested Unit, then the amount of such distribution shall be withheld from the holder of such Unvested Unit until the earlier to occur of (i) the time at which such Unvested Unit becomes a Vested Unit whereupon the amount so withheld (less any unrecovered Non Pro Rata Tax Distributions previously distributed to such Member with respect to such Vested Unit) shall be promptly paid by the Company to such holder without interest and (ii) the time at which such Unvested Unit is no longer eligible for vesting, whereupon the amount so withheld shall, at the sole discretion of the Principal Member, be distributed to the other Members pursuant to Section 3(a) or retained by the Company and held or used for any purpose, as the Principal Member may direct. Distributions withheld from a holder pursuant to this Section 3(d) will nonetheless be deemed to have been received by such holder for purposes of Section 3(a).
Unvested Units. The Optionee agrees not to sell, assign, transfer, pledge, hypothecate, gift, mortgage or otherwise encumber or dispose of (except to the Company or any successor to the Company) all or any Unvested Units or any interest therein, and any Unvested Units purchased upon exercise of this option shall be held in escrow by the Company in accordance with the terms of Section S below unless and until they become Vested Units.
Unvested Units. Sellers shall not be entitled to any distributions in respect of Unvested Units until and unless such Unvested Units have become Vested Units. Any amounts which would have been distributed to Sellers pursuant to the terms of the LP Agreement in respect of Unvested Units but for the application of the preceding sentence (the “Unvested Allocations”) shall be distributed to Sellers as soon as practicable after such Class B Units become Vested Units, without interest. The Company shall set aside all Unvested Allocations until such time as the Unvested Allocations are either forfeited pursuant to Section 2 above or distributed pursuant to this Section 3(b) as provided for in Section 14 of the LP Agreement.
