Examples of Class P Common Units in a sentence
The Company shall have consummated the purchase of all of the outstanding Class P Common Units (other than those owned by Horn and Cobb) pursuant to the Redemption Agreements.
The Board may designate a series number for Class P Common Units that have the 15 NTD: Schedule B to list initial grants to management team.
As of the date of each issuance of Class P Common Units, the Board shall establish an initial “Participation Threshold” amount with respect to each Class P Common Unit granted on such date.
Immediately following the date hereof, the Limited Partner shall retain 10,000,000 of the Class P-1 Common Units conditionally issued to the Limited Partner on March 1, 2017 (“ Incentive Grant Date ”) under the 2017 Partner Agreement (the retained Class P Common Units, the “ Retained P Units ”).
Notwithstanding any terms of the Limited Partnership Agreement or the Exchange Agreement relating to Class P Common Units (the “ Class P Exchange Agreement ”) to the contrary, the Limited Partner and his Related Trusts shall have no rights to exchange their Retained P Units except as specifically provided in Section 16(b) below.
In the event of a Sale of the Company, any Class P Common Units that are not already at such time Participating Class P Common Units and that do not become Participating Class P Common Units in connection with the Distributions made in connection with the consummation of such transaction shall be automatically forfeited and no payment shall be due in respect thereof.
A copy of the approved plan and the specifications shall be kept on site at all times.
The issued and outstanding Equity Interests in the Company consist of 46,350 Preferred Units, 900,000 Class C Common Units and 64,750 Class P Common Units (the “Outstanding Company Units”) and no Preferred Units, Class C Common Units or Class P Common Units are held in the Company’s treasury.
The Retained P Units shall participate in any earn-outs, escrows and other holdbacks on the same basis as the Class D Common Units or Class P Common Units of the other Limited Partners, as applied on a pro rata basis in respect of the Retained P Units.
The Board shall have the right at any time and from time to time to cause the Company to issue Class P Common Units to existing or new employees, officers, managers, directors, consultants or other service providers of the Company or any of its Subsidiaries pursuant to Equity Agreements approved by the Board, which Equity Agreements shall contain such provisions as the Board shall determine in its sole discretion.