Profits Unit definition

Profits Unit means a unit representing a Profits Interest issued by the Company.
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Profits Unit has the meaning set forth in Section 4.3(a)(iii) of this Agreement.
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Profits Unit has the meaning given in the Profits Unit Plan.
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Examples of Profits Unit in a sentence

  • By virtue of ownership of a Company Profits Unit, the Participant shall have no right or obligation to make any Capital Contribution to the Company at any time and shall have no rights to any capital contributed to the Company.

  • The Participant shall be a Member and holder of Profits Unit for all purposes under the Management LLC Agreement.

  • Each Company Profits Unit is intended to be a “profits interest” within the meaning of Rev.

  • Each TJ Chemical Profits Unit represents the right to receive a pro rata portion of the appreciation of the assets of TJ Chemical above the Threshold Amount (as defined in the TJ Chemical LLC Agreement) for such TJ Chemical Profits Unit after the Date of Grant.

  • Any determination relating to the value of the assets of TJ Chemical or any TJ Chemical Profits Unit shall be determined in good faith by the Board of Directors of TJ Chemical in accordance with the TJ Chemical LLC Agreement and all determinations of the Board of Directors shall be final and binding on all parties.

  • Each Company Profits Unit represents the right to a pro rata share of any distributions received by the Company in respect of the corresponding TJ Chemical Profits Units held by the Company in accordance with the Management LLC Agreement.

  • Each Profits Unit can be converted into one unit of limited partnership interest (an "OP Unit") in the Operating Partnership following vesting and the satisfaction of certain tax-driven economic requirements.

  • Separately invested AVCs are held with the Equitable Life Assurance Society, Prudential Assurance, and Clerical Medical in a combination of With Profits, Unit Linked and Building Society accounts, securing additional benefits on a money purchase basis for those members electing to pay additional voluntary contributions.

  • For the avoidance of doubt, this Section 4.3 shall not alter the Profits Unit Holder’s right to Tax Distributions under Section 4.2. Notwithstanding the other provisions of this Agreement, such Tax Distributions shall be calculated and made by the Partnership by treating all Unvested Class B2 Units as if they were “substantially vested” within the meaning of Treas.

  • For purposes of making allocations of Profit or Loss or items thereof (as those terms are defined in the Partnership Agreement) pursuant to Section 5.1(a) of the Partnership Agreement each OP Profits Unit, regardless of whether vested or unvested, shall be treated as a Partnership Unit.


More Definitions of Profits Unit

Profits Unit means each Unit designated as such upon issuance and having the rights, preferences, duties, and obligations set forth herein and as more fully described in Section 7.06.
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Profits Unit means, as required by context, a Profits Unit of the Partnership (as defined in the Partnership Agreement) granted hereunder and/or a Profits Unit of Management LLC (as defined in the Management LLC Agreement) that relates to such Profits Unit of the Partnership, in each case subject to the terms of this Agreement and the Equity Incentive Plan and in each case, if applicable, any securities which may be issued after the Effective Date in respect of, or in exchange for, a Profits Unit (which are sometimes referred to herein as “successor equity interests”).
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Profits Unit means a Class A Profits Unit (as defined in the Company LLCA) in the Company, a Class B Profits Units (as defined in the Company LLCA) in the Company or any other class of unit in the Company designated as a “profits interest” and granted hereunder subject to the terms of this Plan.
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Profits Unit means a Partnership Interest issued to a Participant under the Plan as more particularly described in the Award Agreement and Section 8.4(c) hereof. Each Profits Unit shall be convertible into a Unit of Partnership Interest under the terms and conditions set forth in a related Profits Units Designation.
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Profits Unit means, as required by context, a Profits Unit of the Company (as defined in the Company Operating Agreement) granted hereunder and/or a corresponding partnership profits interest in Management LLC that relates to such Profits Unit of the Company, in each case subject to the terms of the Plan and in each case, if applicable, any securities which may be issued after the Effective Date in respect of, or in exchange for, a Profits Unit (which are sometimes referred to herein as “successor equity interests”).
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Related to Profits Unit

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • LTIP Unit means a Limited Partnership Interest which is designated as an LTIP Unit and which has the rights, preferences and other privileges designated in Section 4.4 hereof and elsewhere in this Agreement in respect of holders of LTIP Units. The allocation of LTIP Units among the Partners shall be set forth on Exhibit A, as may be amended from time to time.

  • Deferred Share means a Share which by its terms of issue is a deferred share as defined in the Statutes and includes a permanent interest bearing share and a Core Capital Deferred Share;

  • Stock Unit means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

  • Share Unit means a unit credited by means of an entry on the books of the Corporation to a Participant pursuant to the Plan, representing the right to receive, subject to and in accordance with the Plan, for each Vested Share Unit one Share, at the time, in the manner, and subject to the terms, set forth in the Plan and the applicable Grant Agreement;

  • LTIP means the Long-Term Incentive Plan of the General Partner, as may be amended, or any equity compensation plan successor thereto.

  • Deferred Share Unit or “DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7;

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

  • Phantom Unit means a notional Unit granted under the Plan which upon vesting entitles the Participant to receive, at the time of settlement, a Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its sole discretion.

  • Deferred Stock Unit means a right granted to a Participant under Article 9 to receive Shares (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

  • Phantom means a volume of material behaving in a manner similar to tissue with respect to the attenuation and scattering of radiation. This requires that both the atomic number (Z) and the density of the material be similar to that of tissue.

  • LTIP Award means each or any, as the context requires, LTIP Award issued under any Equity Incentive Plan.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.

  • Profits Interest means an interest in the Company that is intended to be classified as a profits interest within the meaning of Internal Revenue Service Revenue Procedure 93-27 and 2001-43 (or the corresponding requirements of any subsequent guidance promulgated by the Internal Revenue Service or other Law) for U.S. federal income tax purposes, including the Class C Common Incentive Units.

  • Share Award means an Award of Shares granted pursuant to Section 10.

  • Phantom Share means a right, pursuant to the Plan, of the Grantee to payment of the Phantom Share Value.

  • Phantom Stock Unit means the right to receive the value of one (1) share of the Company’s Common Stock, subject to the provisions of Section 8.4 of the Plan.

  • Performance Unit means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.

  • Award Gain means (i), in respect of a given stock option exercise, the product of (X) the Fair Market Value per share of common stock at the date of such exercise (without regard to any subsequent change in the market price of shares) minus the exercise price times (Y) the number of shares as to which the stock option was exercised at that date, and (ii), in respect of any other settlement of an Award granted to Executive, the Fair Market Value of the cash or stock paid or payable to Executive (regardless of any elective deferral) less any cash or the Fair Market Value of any stock or property (other than an Award or award which would have itself then been forfeitable hereunder and excluding any payment of tax withholding) paid by Executive to the Company as a condition of or in connection such settlement; and

  • Unit Share has the meaning ascribed thereto in the first paragraph of this Agreement;

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

  • RSU means a restricted stock unit granted under the Plan, which represents an unfunded and unsecured promise to deliver shares of Common Stock in accordance with the terms of the RSU Award Agreement.

  • Company Restricted Stock Unit means any restricted stock unit award subject to service-based vesting, payable in shares of Company Common Stock or the value of which is determined with reference to the value of shares of Company Common Stock, whether granted under a Company Stock Plan or otherwise.