Profits Interest Hurdle definition

Profits Interest Hurdle means an amount set forth in each Award Agreement reflecting the Class B Liquidation Value of the relevant Class B Profits Units at the time the units are issued.

Profits Interest Hurdle means an amount set forth in each Award Agreement reflecting the Incentive Liquidation Value of the relevant Incentive Units at the time the units are issued.

Profits Interest Hurdle has the meaning set forth in Section 3.1(c). “Public Director” has the meaning set forth in Section 5.3(a).

Examples of Profits Interest Hurdle in a sentence

• Available profits shall include the aggregate amount of profit and unrealized appreciation in all of the assets of the Company between the date of issuance of such Incentive Units and the date of such Distribution, it being understood that such unrealized appreciation shall be determined on the basis of the Profits Interest Hurdle applicable to such Incentive Unit.

• In each Award Agreement that it enters with a Service Provider for the issuance of new Class B Profits Units, the Board shall include an appropriate Profits Interest Hurdle for such Class B Profits Units on the basis of the Class B Liquidation Value immediately prior to the issuance of such Class B Profits Units.

• Available profits shall include the aggregate amount of profit and unrealized appreciation in all of the assets of the Company between the date of issuance of such Class B Profits Units and the date of such Distribution, it being understood that such unrealized appreciation shall be determined on the basis of the Profits Interest Hurdle applicable to such Class B Profits Unit.

• For the sake of clarity, as a result of clause (i) above, Members who hold Incentive Units will not receive any distributions with respect to Incentive Units until the Profits Interest Hurdle applicable to such Incentive Units has been reached.

• Available profits shall include the aggregate amount of profit and unrealized appreciation in all of the assets of the Company between the date of issuance of such Class P Units and the date of such distribution, it being understood that such unrealized appreciation shall be determined on the basis of the Profits Interest Hurdle applicable to such Unit.

More Definitions of Profits Interest Hurdle

Profits Interest Hurdle means an amount specified by the Committee with respect to each Incentive Unit and set forth in the applicable Award Agreement in accordance with the LLC Agreement. The Profits Interest Hurdle applicable to any Incentive Unit issued hereunder shall be no less than the amount determined by the Board of Managers to be necessary to cause such Incentive Unit to constitute a “profits interest” within the meaning of Revenue Procedures 93-27 and 2001-43.

Profits Interest Hurdle means an amount specified by the Committee with respect to each Special Equity Unit and set forth in the applicable Grant Agreement. The Profits Interest Hurdle applicable to any Special Equity Unit issued hereunder shall be no less than the amount determined by the Committee to be necessary to cause such Special Equity Unit to constitute a “profits interest” within the meaning of Revenue Procedures 93-27 and 2001-43.

Profits Interest Hurdle means an amount set forth in each Award Agreement reflecting the P Series Liquidation Value (or a multiple thereof) of the relevant P Series of Class C Common Units at the time the Units are issued as determined by the Managing Member.

Profits Interest Hurdle means, as of the date of determination and with respect to the relevant new Incentive Units to be issued, the aggregate amount that would be Distributed to the Members pursuant to Section 7.02, if, immediately prior to the issuance of the relevant new Incentive Units, the Company sold all of its assets for Fair Market Value and immediately liquidated, the Company’s debts and liabilities were satisfied and the proceeds of the liquidation were Distributed to such Members pursuant to Section 13.03(c)(iii).

Profits Interest Hurdle means the amount specified as the Profit Interest Hurdle with respect to Award Units set forth in any Award Agreement. The Profits Interest Hurdle applicable to any Award Unit issued pursuant to any Award Agreement shall be no less than the amount determined by the Managers to be necessary to cause such Award Unit to constitute a Profits Interest.

Profits Interest Hurdle means, for each Incentive Unit issued as a Profits Interest, an amount equal to the amount that would be distributed in respect of such Incentive Unit absent the Profits Interest Hurdle if, immediately after the Profits Interest is issued, the Company sold all of its assets for Fair Market Value and immediately liquidated, the Company’s debts and liabilities were satisfied, and the proceeds of the liquidation were Distributed pursuant to Section 11.03(c); provided, however, the Profits Interest Hurdle shall not be less than zero dollars ($0). The Manager shall have the discretion to set any Profits Interest Hurdle to equal an amount greater than the amount determined in the prior sentence. The Profits Interest Hurdle of an Incentive Unit shall be reduced (but not below zero dollars ($0)) dollar-for-dollar by the amount by which Distributions with respect to such Incentive Unit were previously reduced by reason of the existence of the Profits Interest Hurdle. The Manager shall have the discretion to (i) reduce the Profits Interest Hurdle with respect to any Incentive Unit if, subsequent to the grant of such Incentive Unit, the Fair Market Value of the Company declines, and (ii) otherwise adjust the Profits Interest Hurdle in accordance with the applicable Award Agreement. The Profits Interest Hurdle for an Incentive Unit shall be as set forth in the applicable Award Agreement and shall initially be based on the Company Liquidation Value in effect at the time of issuance of such Incentive Unit.

Profits Interest Hurdle means an amount specified by the Committee with respect to each Phantom Unit and set forth in the applicable Grant Agreement. The Profits Interest Hurdle applicable to any Phantom Unit issued hereunder shall be no less than the Profits Interest Hurdle established by the Committee for Special Equity Units being granted to U.S. employees under the Special Equity Plan on the same date.