Unit Percentage Interest definition
Examples of Unit Percentage Interest in a sentence
At such time as any unvested Employee Units of any Employee Member in any series are forfeited pursuant to Section 4 of the such Employee Member’s award agreement, such unvested Employee Units shall be cancelled and the Manager Percentage Interest shall be increased by a percentage equal to the product of (x) the Unit Percentage Interest with respect to such series in effect immediately prior to such forfeiture times (y) the number of Employee Units in such series that were then forfeited.
Subject to Section 6.01(e), and only to the extent permitted by Section 4.01(b)(v), Distributions may be made to the Common Unitholders as of the close of business on the applicable Record Date on a pro rata basis in accordance with each Common Unitholder’s Common Unit Percentage Interest as of the close of business on such Record Date.
Nonrecourse Deductions shall be allocated to the Members holding Common Units in accordance with their respective Common Unit Percentage Interest.
All Distributions made under this Section 4.01(a)(ii) shall be made to the Members holding Common Units as of the close of business on such record date on a pro rata basis in accordance with each Member’s Common Unit Percentage Interest (other than, for the avoidance of doubt, any Distributions made pursuant to Section 4.01(a)(iv)) as of the close of business on such record date; provided, however, that the Manager shall have the obligation to make distributions as set forth in Sections 4.01(b) and 14.02.
For the avoidance of doubt, any excess Tax Distributions a Member receives with respect to any Taxable Year shall reduce future Tax Distributions otherwise required to be made to such Member with respect to any subsequent Taxable Year, but shall not reduce Tax Distributions made to a Member to provide such Member with its Common Unit Percentage Interest of Tax Distributions made pursuant to Section 4.01(b)(1)(B).
The names of the Members of the Company, the number and class of Units held by each Member, and the Unit Percentage Interest and Capital Account Ratio of each Member are set forth on Schedule A.
Subject to Section 4.1(d) with respect to Tax Distributions, all Distributions by the Partnership, and all proceeds (whether received by the Partnership or directly by the Partners) in connection with any Liquidity Event, shall be made or allocated among the holders of Common Units pro rata based on each such holder’s Common Unit Percentage Interest (such allocation being the holder’s Distributive Share).
As between Voting and Nonvoting Units, the number of Voting Units deemed redeemed from each Member shall be equal to the total number of Units deemed redeemed from that Member multiplied times the Member’s Voting Unit Percentage Interest.
The number of Nonvoting Units deemed redeemed from each Member shall be equal to the total number of Units deemed redeemed from that Member multiplied times that Member’s Nonvoting Unit Percentage Interest.
With respect to any distribution pursuant to Sections 7.2(a)(ii), 7.2(b)(ii), 7.2(b)(iii) or 7.2(d)(ii), the Class C Recapture Amount shall be an amount equal to (a) the aggregate amount then distributable pursuant to such Section 7.2(a)(ii), 7.2(b)(ii), 7.2(b)(iii) or 7.2(d)(ii) as the case may be, multiplied by (b) the aggregate Priority Unit Percentage Interest of all Class C Limited Partners.