Examples of Grant Units in a sentence
Grant Units shall represent Founding/Working Partner Interests in the Partnership.
The Founding Partner Interests shall be sub-divided into a number of classes as determined by the General Partner, including: (1) Grant Units, (2) High Distribution Units, (3) High Distribution II Units, (4) High Distribution III Units, and (5) High Distribution IV Units.
Notwithstanding anything to the contrary herein, the obligation to make any Post-Termination Payment shall be cancelled and no such payment shall be made in the event the Partnership is dissolved without reconstitution prior to the date that such Founding/Working Partner holding Grant Units becomes a Terminated Founding/Working Partner.
Each holder of Grant Units acknowledges and agrees that payments pursuant to this Section 12.02(g) represent a right to a fixed payment and do not represent a payment with respect to any Partnership asset of any nature.
With respect to Grant Units issued after the Holdings Partnership Division, the Post-Termination Payment shall equal (A) the number of Grant Units issued to such Founding/Working Partner, multiplied by (B) the xxxxx xxxxx for such Grant Units on the date of issuance as determined by the General Partner in its discretion and set forth on a schedule.
This reflects enhanced salaries and wages in the sector given that overall staff levels decreased.
Following transfer, the Grant Units shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer.
The provisions of Sections 3, 4 and 5 above shall continue to be applied with respect to the original Participant following transfer and the Grant Units shall vest and mature, as applicable, only to the extent specified therein.
The Lead Partner must allocate any Firm Scheme Grant received in respect of a Non Attributed Grant Unit against Affordable Dwellings (other than Non Attributed Grant Units) in accordance with the process for allocating grant identified in Condition 15.1.
Grant Units are not transferable other than by will or the laws of descent and distribution or pursuant to a “domestic relations order,” as defined in the Code or Title I of the Employee Retirement Income Security Act or the rules thereunder, and shall not otherwise be transferred, assigned, pledged, hypothecated or disposed of in any way, whether by operation of law or otherwise, nor shall the Grant Units be subject to execution, attachment or similar process.