Class B Partnership Interests definition
Examples of Class B Partnership Interests in a sentence
Shares of Newco common stock issued in exchange for the Class B Partnership Interests in Management that were granted to management employees in May 2005 and that are subject to forfeiture restrictions as of the Closing shall be issued pursuant to the Newco Restricted Stock Plan and such shares of Newco common stock shall be subject to the same forfeiture restrictions as were in effect with respect to such Class B Partnership Interests prior to the Closing.
No Limited Partner shall have any right to withdraw from the Partnership without the prior written consent of the General Partner, provided that at such time as a Limited Partner no longer owns any Class B Partnership Interests, such Limited Partner shall cease to be a Partner of the Partnership.
Unvested Class B Partnership Interests shall vest in accordance with the vesting schedule of the Class B Units contributed in exchange for the Class B Partnership Interests as set forth on the Register or in an agreement for an award of Class B Equity Incentive Units.
Class B Partnership Interests redeemed in exchange for Class B Units shall be cancelled.
Shares of Newco common stock issued in exchange for Class B Partnership Interests in Management that were issued to management employees prior to May 2005 shall not be subject to forfeiture and shall be fully vested.
The Unallocated Class B Interest Shares would otherwise have been issued to Owners of SOP by virtue of SOP's ownership of Class B Partnership Interests in Management as of the Closing.
Class B Partnership Interests redeemed upon removal of a Limited Partner shall be cancelled.
An Exit Exchange Request shall set forth the number of Class B Partnership Interests such Limited Partner elects to redeem in exchange for Class B Units and Class B Shares.
Subject to the terms of this Agreement, the General Partner may issue Class B Partnership Interests upon its admission of one (1) or more additional Limited Partners or issue additional Class B Partnership Interests to an existing Limited Partner at any time, in each case in exchange for an equal number of Class B Units contributed by such Person to the Partnership.
All Class B Partnership Interests shall be vested or subject to vesting provisions as set forth on the Register.