Examples of Executive Preferred Units in a sentence
Bear Equity shall vest into 8.3333% of the total Executive Preferred Units every quarter (i.e. every three calendar months) that has elapsed after the Vesting Start Date such that at the end of three (3) years after the Vesting Start Date Bear Equity shall be fully vested in said Units, subject to the below terms and Section 3.2 hereof.
Accordingly, such Executive Preferred Units must be sold in compliance with the registration requirements of the applicable Securities Laws or an exemption there from.
Each and every permitted transferee or assignee of Executive Preferred Units from Bear Equity shall be bound by and subject to all the terms and conditions of this Agreement and the LLC Agreement on the same basis Bear Equity is bound.
Except for any Transfers permitted in the LLC Agreement or other agreement entered into in connection herewith or therewith, the Executive shall not transfer any Executive Preferred Units.
An additional 0.95238% of the Executive Preferred Units shall vest for each additional one million dollars ($1,000,000.00) by which the Aggregate Investment Amount exceeds twenty million dollars ($20,000,000.00).
These restrictions on the Units that are set forth in this Agreement shall terminate upon the Company’s Qualified Public Offering (it being understood that the termination of restrictions on the Executive Preferred Units shall not result in the forfeiture of any Executive Preferred Units either vested or unvested then held by Executive and/or Bear Equity at the time of the Company’s Qualified Public Offering).
In consideration of the services to be performed by the Executive for the Company, the Company has issued to the Founder Preferred Investor the Executive Preferred Units pursuant to Section 4.1(d) of the LLC Agreement.
Such Executive Preferred Units shall be subject to a commencement date of February 26, 2010 for purposes of calculating the applicable Priority Return.
So long as this Agreement is in effect, no Transfer of any Executive Preferred Units shall be effective unless such Transfer is made pursuant to the terms of the LLC Agreement and the transferee agrees in writing to be bound by, and subject to, the provisions of this Agreement upon the same terms applicable to the transferors and to ensure that such transferees’ transferees shall be likewise bound.
If any Transfer of Executive Preferred Units is made contrary to the terms of this Agreement or the LLC Agreement, such Transfer shall be null and void.