Examples of Management Incentive Unit in a sentence
Each Class C Common Incentive Unit shall be subject to a return threshold (the “Class C Common Incentive Unit Return Threshold”), which shall be, for each Class C Common Incentive Unit that is intended to constitute a Profits Interest for U.S. federal income tax purposes, an amount not less than the amount determined by the Manager to be necessary to cause such Management Incentive Unit to constitute a Profits Interest, as set forth on the Schedule of Members.
For purposes of this policy, the University adheres to the definitions of research as provided by DHHS under 45 CFR 46.102(l) and the Food and Drug Administration (FDA) under 21 CFR 50.3(c), 21 CFR 56.102(c).
Notwithstanding the provisions of Sections 4.2(a)(ii), (iii), (iv) and (v) above, any amount that would otherwise be distributed to the holder of a Management Incentive Unit in respect of which there is a non-zero Deemed Exercise Price shall be withheld therefrom until the amount that is so withheld in respect of that Management Incentive Unit is equal to the Deemed Exercise Price of that Management Incentive Unit.
Notwithstanding anything herein to the contrary, this Agreement does not supersede the Management Incentive Unit Grant Agreement between the Holder and Vector Cambium Holdings (Cayman), L.P. with respect to the Class B Units that vested prior to the IPO in accordance with the terms of such Management Incentive Unit Grant Agreement.
An Executive shall not be entitled to any voting rights or any Sharing Percentage with respect to a Management Incentive Unit, but for all other purposes an Executive shall have all of the rights and obligations of a Limited Partner holding Common Units hereunder.
Except for any difference in the applicable Distribution Threshold of a Management Incentive Unit or as otherwise provided in any Common Unit Certificate corresponding to such Management Incentive Unit, each Common Unit shall be identical to all other Common Units in all respects and shall entitle the holder thereof to the rights, interests, preferences and privileges of a holder of a Common Unit as set forth in this Agreement.
The Deemed Exercise Price of each such Management Incentive Unit is $0.
Any such Section 83(b) Election shall be filed within 30 days of the grant date of a Management Incentive Unit to a Management Member.
Each Management Incentive Unit shall have a Distribution Threshold.
Notwithstanding the provisions of Section 5.4, each distribution that would otherwise be made in respect of any Management Incentive Unit shall be reduced up to the amount of such distribution until the aggregate amount of all reductions made with respect to such Management Incentive Unit equals the Distribution Threshold with respect to such Management Incentive Unit (the “Common Unit Reduction Amount”).