MIP Units definition

MIP Units means the Equity Interests of MIP.
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Examples of MIP Units in a sentence

  • Termination of Employment for Cause: In the case of termination of a Participant’s employment for Cause, all MIP Units held by the Participant will be immediately forfeited, and the Participant will have no further rights under the MIP.

  • If the Executive terminates employment without Good Reason (as defined below) the Executive’s MIP Units shall be subject to the vesting and forfeiture provisions as described in the MIP.

  • The Participant shall be only entitled to receive an allocable share of any MIP Distribution, if any, attributable to such Participant’s vested MIP Units on the earlier of the next Distribution Date on which a MIP Distribution is made or the next Scheduled Liquidity Event date.

  • If a Participant terminates employment without Good Reason prior to the Initial Payout Date, the Participant will forfeit all of the Participant’s MIP Units and will have no further rights under the MIP.

  • Notwithstanding anything in the MIP to the contrary, the Board or delegated committee may accelerated the vesting of a Participant’s unvested MIP Units following termination of the Participant’s employment.

  • The Participant (or Participant’s estate in the event of the Participant’s death) shall be only entitled to receive an allocable share of any MIP Distribution, if any, attributable to such Participant’s MIP Units on the earlier of the next Distribution Date on which a MIP Distribution is made or the next Scheduled Liquidity Event date.

  • In the event of a Change in Control (as defined below), Executive’s MIP Units shall be subject to the vesting provisions as described in the MIP.

  • Termination of Employment without Cause/Voluntary Termination with Good Reason: Upon the termination of the Executive’s employment without Cause (as defined below), or if the Executive terminates employment with Good Reason, the Executive’s MIP Units shall be subject to the vesting and forfeiture provisions as described in the Incentive Program.

  • In the case of the Executive’s death or disability, the Executive’s MIP Units shall be subject to the vesting and forfeiture provisions as described in the MIP.

  • Change in Control: Participants will fully vest in all MIP Units awarded.

Related to MIP Units

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

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

  • Membership Units means membership interests in the Company.

  • Class B Units means the Units having the privileges, preference, duties, liabilities, obligations and rights specified with respect to “Class B Units” in this Agreement.

  • OP Units means units of limited partnership interest in the Operating Partnership.