Common use of Withdrawal and Vesting Provisions Clause in Contracts

Withdrawal and Vesting Provisions. The following changes shall apply to the provisions of Sections 2.13(g), 8.3(a)(ii) and 8.4(b) of the Limited Partnership Agreement with respect to the Limited Partner and his Related Trusts, if any, and his or their Common Units: (i) references therein to the Closing Date shall be deemed to refer to the Admission Date, (ii) their Common Units shall be treated as Class A Common Units thereunder, and (iii) if any Class D-4 Common Units are reallocated thereunder, each Class D-4 Common Unit shall automatically convert into a Class A Common Unit upon such reallocation but will remain subject to the same vesting requirements as the Class D-4 Common Units of the Limited Partner had been before his Withdrawal.

Appears in 6 contracts

Samples: Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC)

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Withdrawal and Vesting Provisions. The following changes shall apply to the provisions of Sections 2.13(g), 8.3(a)(ii) and 8.4(b) of the Limited Partnership Agreement with respect to the Limited Partner and his Related Trusts, if any, and his or their Common Units: (i) references therein to the Closing Date shall be deemed to refer to the Admission Date, (ii) their Common Units shall be treated as Class A Common Units thereunder, and (iii) if any Class D-4 D-1 Common Units are reallocated thereunder, each Class D-4 D-1 Common Unit shall automatically convert into a Class A Common Unit upon such reallocation but will remain subject to the same vesting requirements as the Class D-4 D-1 Common Units of the Limited Partner had been before his Withdrawal.

Appears in 3 contracts

Samples: Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC)

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