Distribution Hurdle definition

Distribution Hurdle means, with respect to each Class B Unit, an amount determined by the Board in good faith and equal to the amount specified as such in the Applicable Class B Unit Agreement for the Management Holdco Class B Unit corresponding to such Class B Unit as may be adjusted by the Board in good faith to account for Capital Contributions, distributions in respect of Units, liquidation of the Company, or other similar events; provided that the Distribution Hurdle with respect to each Class B Unit shall be no less than the amount required to constitute a Profits Interest at the time of issuance.
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Distribution Hurdle means, with respect to a Class B Incentive Unit, the “Distribution Hurdle” designated in the applicable Award Agreement.
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Distribution Hurdle means, with respect to each Profit Unit, an amount equal to the amount specified as such in the applicable Profit Unit Agreement for such Profit Unit. The Distribution Hurdle with respect to each Profit Unit shall be equal to or greater than the Profits Interest Threshold applicable to such Profit Unit.
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Examples of Distribution Hurdle in a sentence

  • Any distributions not made to a Class B Member or Class J Member as a result of the preceding sentence shall instead be distributed, in the order of priority set forth in Section 4.1(g), to the other Members whose Distribution Hurdle has been satisfied or whose Units are not subject to a Distribution Hurdle.

  • Notwithstanding the foregoing, a Class B Member and a Class J Member shall not be entitled to receive amounts otherwise distributable to it under this Section 4.1(g) with respect to a Class B Incentive Unit or a Class J Incentive Unit, as applicable, until the aggregate amounts distributed to all other Members pursuant to this Section 4.1(g) equals the Distribution Hurdle applicable to such Class B Incentive Unit or Class J Incentive Unit, as applicable.

  • For avoidance of doubt, the Equity Participation Units will vest pursuant to this Section 2(b) even if the Distribution Hurdle Date has not occurred.

  • Except as otherwise provided Section 2(b) or the Plan, all of the Equity Participation Units subject to this Award shall vest, if at all, on the Distribution Hurdle Date; provided, however, that (i) the Participant remains in continuous employment with the Company or its Affiliates during the period beginning on the Grant Date and ending on the Distribution Hurdle Date and (ii) such Equity Participation Units have not previously been forfeited prior to such date pursuant to Section 3.

  • In determining whether the Distribution Hurdle will be met on an after-tax basis, the cumulative distributions by the General Partner to the QDII and the US L.P. will be reduced by U.S. taxes using the Agreed Applicable Tax Rate and take into account any other tax deductible expenditures incurred by the QDII and US L.P.

  • However, any payments under a promissory note may not be made in connection with a Termination Event until either (a) the closing of asset sales that result in aggregate, cumulative distributions to the Partners (other than the Special Limited Partner) sufficient to satisfy the Distribution Hurdle pursuant to Section 5.2(b), or (b) a Listing (each a “Subsequent Liquidity Event”).

  • If the Distribution Hurdle Date does not occur by the seventh anniversary of the Grant Date, then as of the seventh anniversary of the Grant Date, this Award will expire, terminate and be immediately forfeited by the Participant.

  • In determining whether the Distribution Hurdle will be met on an after-tax basis, the cumulative distributions by OPC REIT to the QDII and the US L.P. will be reduced by U.S. taxes using the Agreed Applicable Tax Rate and take into account any other tax deductible expenditures incurred by the QDII and US L.P.

  • By way of example, a CTO Hurdle Contribution made for the purpose of meeting the Aggregate Investor Distribution Hurdle for the first anniversary of the Effective Date must be made within five (5) Business Days of such first anniversary of the Effective Date in order for such cure to be effective.

  • The Board of Directors will consult with the Company’s tax advisors to determine the appropriate Distribution Hurdle for each Incentive Unit issued by the Company and will reflect the applicable Distribution Hurdle for each Incentive Unit in such IU Award Agreement as of the date such Incentive Unit is granted.