Profits Units definition

Profits Units means the profits units issued by Laredo Petroleum, LLC.

Profits Units has the meaning set forth in Section 2(a) of this Agreement, which have the rights and obligations specified with respect to Profits Units in the Company Agreement.

Profits Units means any Profits Interests issued by the Company or such other Units issued by the Company and designated as “Profits Units.”

Examples of Profits Units in a sentence

• Subscriber is neither an underwriter of, nor a dealer in, the Profits Units and is not participating in the distribution or resale of the Profits Units.

• Subscriber must bear the economic risk of this investment indefinitely and Subscriber acknowledges that Subscriber is able to bear the economic risk of losing Subscriber’s entire investment in the Profits Units.

• Subscriber has sufficient experience in financial and business matters to be capable of utilizing the information set forth in the Form C to evaluate the merits and risks of Subscriber’s investment in the Profits Units, and to make an informed decision relating thereto.

• Subscriber acknowledges and agrees that there is no ready public market for the Profits Units and that there is no guarantee that a market for their resale will ever exist.

• The terms of admission or issuance must specify the number and class of Units (which may include a class or group (which may include any sub class) of Capital Units or Profits Units) and the Sharing Ratio applicable to the newly admitted Members and their Units and the consideration to be provided for such Units, and may provide for the creation of different classes or groups of Units having different rights, powers, and duties.

More Definitions of Profits Units

Profits Units means the limited liability interests in the Company designated as “Profits Units” and having the rights, preferences and privileges set forth in, and subject to, this Agreement and in the associated Profits Unit Award Agreement.

Profits Units means either Service or Exit Units, as described in Section 3.2(b).

Profits Units. The Preferred Units shall initially be divided into three series of units referred to as “Series A-1 Preferred Units,” “Series A-2 Preferred Units” and “BOE Preferred Units”. The Profits Units shall initially be divided into seven series of units referred to as “Series B Units,” “Series C Units,” “Series D Units,” “Series E Units,” “Series F Units,” “Series G Units” and “BOE Incentive Units.” The Company is authorized to issue up to 60,000,000 units designated as “Series A-1 Preferred Units,” 48,000,000 units designated as “Series A-2 Preferred Units”, 88,986,330 units designated as “BOE Preferred Units”, 16,923,077 units designated as “Series B Units,” 8,791,209 units designated as “Series C Units,” 13,538,462 units designated as “Series D Units,” 7,032,967 units designated as “Series E Units”, 5,538,542 units designated as “Series F Units,” units designated as “Series G Units” in a number hereinafter set by the Board and units designated as “BOE Incentive Units” in a number hereinafter set by the Board. The Series A-2 Preferred Units shall have a Designated Value of $1.25; provided, however, that such Units shall not constitute “profits interests” as described in Sections 3.2(d), (e), (f) and (g).

Profits Units means Series B Units, Series C Units, Series D Units, Series E Units, Series F Units, Series G Units and BOE Incentive Units.

Profits Units has the meaning set forth in the recitals.

Profits Units means the Profits Units (as defined in the Partnership Agreement) subject to the terms of the Plan and, if applicable, any securities which may be issued after the Effective Date in respect of, or in exchange for, the Profits Units (which are sometimes referred to herein as “successor equity interests”).

Profits Units has the meaning set forth in Section 3.2.