MIP Equity definition

MIP Equity means the restricted stock units, options, New Common Shares, or other rights, as applicable, exercisable, exchangeable, or convertible into New Common Shares representing up to 10% of the New Common Shares, determined on a fully diluted and fully distributed basis and assuming the exercise of all of the New Warrants, which is reserved for distribution to participants in the Management Incentive Plan.

MIP Equity means any equity that may be issued pursuant to the Management Incentive Plan, to the extent provided for thereunder.

MIP Equity means eight percent (8%) of the New Common Equity on a fully-diluted basis, which shall be in the form of New Class A Common Stock, reserved for issuance by the New Board for the benefit of the MIP Participants and shall be dilutive of all other New Common Equity issued in connection with the Restructuring Transactions.

Examples of MIP Equity in a sentence

• Notwithstanding anything in this Plan to the contrary, the New Common Stock issued in connection with the Equity Rights Offering shall be subject to dilution by the New MIP Equity.

• Any shares of New MIP Equity shall dilute equally the shares of New Common Stock otherwise distributed pursuant to this Plan (including, without limitation, pursuant to or in connection with the Equity Rights Offering).

• The issuance of New Common Shares under the Plan, including any Equity Rights Offering Shares, any New Common Shares issued pursuant to the Backstop Commitment Premium, any New Common Shares to be issued upon exercise of the New Warrants, as well as any MIP Equity, shall be duly authorized without the need for any further corporate action and without any further action by the Debtors or Reorganized Debtors or the Holders of Claims or Interests, as applicable.

• The MIP Equity shall be reserved for grants made from time to time to directors, officers, or other management and employees of the Reorganized Debtors.

• On and after the Effective Date, the New Board shall be authorized to institute the MIP consistent with the terms and conditions set forth in the Employee Matters Term Sheet, which shall allocate 40% of the MIP Equity Shares within 120 days after the Effective Date and provide that at least 40% of such MIP Equity Shares shall be in the form of time-based awards vesting over a period of no longer than four years.

More Definitions of MIP Equity

MIP Equity means Common Stock issued upon the settlement or exercise of restricted stock units, options and other equity instruments granted pursuant to the Management Incentive Plan.

MIP Equity means the New Common Stock, options, and/or other equity-based awards issued pursuant to or in connection with the Management Incentive Plan.

MIP Equity means equity-based awards (including stock options, restrictedstock units, Reorganized Unit Corp. Interests, or other rights exercisable, exchangeable, or convertible into Reorganized Unit Corp. Interests) representing 7% of the Reorganized Unit Corp. Interests on a fully diluted basis to be reserved under the Management Incentive Plan for grants made from time to time to directors, officers, or other management and employees of the Reorganized Debtors, in a form, amounts, and times to be determined by the New Board.

MIP Equity means the New Equity Interests (or restricted stock units, options, or other rights exercisable, exchangeable, or convertible into such New Equity Interests), issued pursuant to or in connection with the Management Incentive Plan.

MIP Equity means (a) 3.5% of the Reorganized Enviva Inc. Interests, in the form of restricted stock units, on a fully diluted basis, to be issued on the Effective Date, and (b) 6.5% of Reorganized Enviva Inc. Interests, on a fully diluted basis, to be issued at the discretion of the New Board on or after the Effective Date, each in accordance with the Management Incentive Plan.

MIP Equity means the New Common Equity Interests issued pursuant to or in connection with the Management Incentive Plan.

MIP Equity means the Fully Diluted Shares that may be issued pursuant to the Management Incentive Plan, to the extent provided for thereunder.