Examples of Class E-1 Common Units in a sentence
Thereafter, any such retained Conversion Class E-2 Common Units shall have the same rights, powers and duties as the Class E-1 Common Units except as specified in the applicable Partner Agreement or in Section 3.1(g)(iv) or 3.1(n) or elsewhere in this Agreement.
On the Recapitalization Date, immediately following the Merger, 9,655,232 Class E-1 Common Units (such number, the “Initial Class E Grant”) shall be issued to existing Limited Partners.
Notwithstanding the foregoing, any and all unvested Class E-1 Common Units shall become fully vested in the event of a liquidation of the Partnership or a Change of Control.
Upon (A) any Class E-1 Common Units or Additional Class E Common Units becoming Eligible Common Units or (B) any such Class E Common Units being cancelled (other than any Class E-1 Common Units cancelled as of March 11, 2019 pursuant to Section 3.1(g)(i)), in either case an equal number of Class A-1 Common Units shall be automatically cancelled, with each holder of Class A-1 Common Units bearing its pro rata share of such cancellation.
The retention of any Class E-1 Common Units granted to each such Limited Partner is subject to such Limited Partner (A) delivering to the General Partner, prior to March 8, 2019, a completed and executed version of such award agreement, and (B) satisfying the conditions specified in such award agreement; and any grant as to which the conditions in the foregoing clauses (A) and (B) are not met shall be canceled as of March 11, 2019.
All Class E-1 Common Units shall be subject to vesting in accordance with Exhibit E-1 hereto.
Any and all unvested Additional Class E-1 Common Units that do not become vested in accordance with this clause (ii) upon such a Withdrawal without Cause shall be immediately forfeited for no consideration at such time.
With respect to each of the Class E Unit Grants described above and for purposes of the LPAs, a total of ____________ Class E-1 Common Units granted hereunder in each Partnership shall constitute the First Tranche of Class E-1 Common Units in such Partnership, and a total of ____________ Class E-1 Common Units granted hereunder in each Partnership shall constitute the Additional Class E-1 Common Units in such Partnership.
In the event that the Limited Partner is subject to a Withdrawal during or after the Term, the Class E-1 Common Units (as defined below) then held by the Limited Partner shall be subject to the vesting and forfeiture terms set forth in the Class E-1 Common Unit Award Agreement and the respective Limited Partnership Agreement of each of the Operating Partnerships then in-effect.
As used herein, “Specified RSUs” means any RSUs, whether issued prior to, on or after the date hereof, other than RSUs held by non-executive managing director employees or executive managing directors of OZ Management that do not receive grants of Class E-1 Common Units or are otherwise participating in the Recapitalization.