Forfeited Interests definition
Examples of Forfeited Interests in a sentence
For avoidance of doubt, the Forfeited Interests shall not include any AOG Units that have been sold to a Person outside the Forfeiting Senior Manager’s Group in accordance with the terms of this Agreement and any other agreement referenced herein.
The Company shall be permitted to use the Forfeited Interests for grants of Interests at the next or any subsequent Trading Window.
The Sponsor hereby agrees to (i) take, and authorizes HCM to take, such actions as shall be necessary to evidence such surrender and forfeiture of such Forfeited Interests as of immediately prior to the Effective Time and (ii) provide the Company with documentation reasonably satisfactory to the Company evidencing the satisfaction of the Sponsor's obligation to surrender and forfeit such Forfeited Interests prior to the Effective Time.
The Heritage Points subject to reduction shall be reallocated among the respective Groups of the Continuing Principals in the same manner as the Forfeited Interests are allocated pursuant to Section 4.1(a).
The parties acknowledge that the applicable performance criteria will not be met with respect to the Forfeited Interests and that such Forfeited Interests shall terminate and be forfeited as of immediately prior to the Closing for no consideration.
Upon the forfeiture of the Forfeited Interests, Pecuniary Interest in AOG Units of the Senior Manager and his Group shall be decreased by the Pecuniary Interest forfeited and, at BRH’s discretion, either (i) BRH’s Pecuniary Interest in AOG Units shall be increased by the Forfeited Interests received or (ii) the Forfeited Interests will be transferred to the member of the Apollo.
The Sponsor hereby agrees to (i) take, and authorizes HCM to take, such actions as shall be necessary to evidence such surrender and forfeiture of such Forfeited Interests as of immediately prior to the Effective Time and (ii) provide the Company with documentation reasonably satisfactory to the Company evidencing the satisfaction of the Sponsor’s obligation to surrender and forfeit such Forfeited Interests prior to the Effective Time.
Subject to and in accordance with the terms and conditions set forth herein, at the Closing, the Buyer shall purchase from the Sellers, and the Sellers shall sell, transfer, assign, convey and deliver to the Buyer, all of the Interests (other than any Forfeited Interests), free and clear of any Liens.
Schedule 4.3(a) also accurately and completely sets forth the Subordinated Profits Common Units that have vested or will vest upon the Closing and the Forfeited Interests.
Notwithstanding the expulsion of a defaulting Partner pursuant to this Section and the forfeiture by such defaulting Partner of its Forfeited Interests, such defaulting Partner (i) shall have, and shall continue to be liable to the Partnership and the other Partners for, all obligations, liabilities, costs, expenses, losses and damages provided in Sections 3.3(c)(1), 3.3(c)(2) and 3.3(c)(3) and (ii) shall have the rights under Section 3.3(c)(4).