Initial Retained Units definition

Initial Retained Units means 80% of the Common Partnership Units received
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Initial Retained Units means a number of Units equal to: (a) 7,000,000 minus (b) the Estimated Closing Adjustment Amount plus (c) the Estimated Expense Payments Adjustment.
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Initial Retained Units means 80% of the Common Partnership Units received pursuant to this Agreement that will be fully vested and non-forfeitable upon issuance. “Subsequent Retained Units” means 100% of the Common Partnership Units received pursuant to this Agreement that will be unvested and forfeitable at the time of issuance (together with the Initial Retained Units, the “Retained Units”). “Retention Period” means (i) with respect to the Initial Retained Units, the period commencing from the Closing and ending on [·], 2020,(2) and (ii) with respect to the Subsequent Retained Units, the period commencing from the Closing and ending on [·], 2022(3); provided, however, that the applicable Retention Period shall terminate immediately upon (i) the termination of employment of the Unit Holder with the Company or its affiliates (a) by the Company (or its successor) without Cause, (b) by the Unit Holder for Good Reason or (c) upon the Unit Holder’s death or Disability, or (ii) the occurrence of a Change in Control.
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More Definitions of Initial Retained Units

Initial Retained Units means 80% of the Common Partnership Units received pursuant to this Agreement that will be fully vested and non-forfeitable upon issuance. “Subsequent Retained Units” means 100% of the Common Partnership Units received pursuant to this Agreement that will be unvested and forfeitable at the time of issuance (together with the Initial Retained Units, the “Retained Units”). “Retention Period” means (i) with respect to the Initial Retained Units, the period commencing from the Closing and ending on ·, 2020,(3) and (ii) with respect to the Subsequent Retained Units, the period commencing from the Closing and ending on ·, 2022(4); provided, however, that the applicable Retention Period shall terminate
Sample 1
Initial Retained Units means 80% of the Common Partnership Units received pursuant to this Agreement that will be fully vested and non-forfeitable upon issuance. “Subsequent Retained Units” means 100% of the Common Partnership Units received pursuant to this Agreement that will be unvested and forfeitable at the time of issuance (together with the Initial Retained Units, the “Retained Units”). “Retention Period” means (i) with respect to the Initial Retained Units, the period commencing from the Closing and ending on July 17, 2020, and (ii) with respect to the Subsequent Retained Units, the period commencing from the Closing and ending on July 17, 2022; provided, however, that the applicable Retention Period shall terminate (and the limitations set forth above shall no longer be applicable) immediately upon (i) the termination of MJG’s service on the Board (a) upon MJG’s failure to be re-nominated to the Board, (b) upon MJG’s failure to be re-elected to the Board in a contested election, (c) upon MJG’s failing to receive a majority of the votes in an uncontested election, tendering his resignation from the Board (as required by the Company’s Governance Guidelines) and the acceptance by the Board of such resignation, (d) upon MJG’s death or Disability or (ii) the occurrence of a Change in Control.
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Related to Initial Retained Units

  • Unvested Units means those Units listed as unvested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.

  • Vested Units means those Units listed as vested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Company Units has the meaning set forth in the Recitals.

  • Membership Units means the units into which the ownership interests of the Members in the Company are divided, including such Member’s Economic Interest and the right of such Member to any and all benefits to which such Member may be entitled as provided in this Agreement or under the Act, together with the obligation of such Member to comply with all of the provisions of this Agreement and of the Act.

  • Unvested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • Class B Units means the Class B Units of the Company.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • Company Restricted Share means each restricted share of Company Common Stock outstanding as of the Effective Time granted pursuant to any equity or compensation plan or arrangement of the Company.

  • LTIP Units means LTIP Units, as such term is defined in the Partnership Agreement.

  • Restricted Units means that number of restricted units listed in the Award Letter as “Awards Granted.”

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Initial Units means, with respect to any Initial Limited Partner, the aggregate number of Class A Units owned by such Initial Limited Partner as of the date of this Agreement.

  • Covered Units means, with respect to each Unitholder, such Unitholder’s Existing Units, together with any WMLP Common Units that such Unitholder becomes the Record Holder or beneficial owner of on or after the date hereof.

  • Company Restricted Shares means all shares of Company Common Stock subject to vesting restrictions and/or forfeiture back to the Company, whether granted under a Company Stock Plan or otherwise.

  • Over-Allotment Units means the additional number of Private Units the Sponsor will be required to purchase in the event that the underwriters in the Company’s initial public offering exercise their over-allotment option, as described in the prospectus relating to the Company’s initial public offering.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • Additional Units means such Units (as defined herein) as are issued in respect of Additional Securities."