Unit Recipient definition

Unit Recipient means a Seller or a partner or member of Seller who will receive Units pursuant to Paragraph 3 hereof.
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Unit Recipient means each equity owner of a Contributor who receives Units at the First Closing, as set forth on the Allocation Chart (collectively, the "Unit Recipients").
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Unit Recipient understands the risks of, and other considerations relating to, the acquisition of the Units. Unit Recipient, by reason of its business and financial experience, together with the business and financial experience of those persons, if any, retained by it to represent or advise it with respect to its investment in the Units, (i) has such knowledge, sophistication and experience in financial and business matters and in making investment decisions of this type, that it is capable of evaluating the merits and risks of an investment in the Operating Partnership and of making an informed investment decision, (ii) is capable of protecting its own interests or has engaged representatives or advisors to assist it in protecting its interests and (iii) is capable of bearing the economic risk of such investment.
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Examples of Unit Recipient in a sentence

  • A designation of beneficiary may be replaced by a new designation or may be revoked by the Unit Recipient at any time.

  • Each grant of Units pursuant to this Article V will be evidenced by a Unit Award Agreement between the Company and the Unit Recipient in form and substance satisfactory to the Committee in its sole discretion, consistent with this Article V.

  • All other Units awarded to the Unit Recipient for such Performance Period shall be canceled.

  • Nothing contained in this Article V, any Unit Award Agreement or in any other agreement executed in connection with the award of Units under this Article V will confer upon any Unit Recipient any right with respect to the continuation of his or her status as an employee of the Company or any of its Subsidiaries.

  • A Unit Recipient may designate a beneficiary or beneficiaries to receive all or part of the Stock and/or cash to be distributed to the Unit Recipient under this Article V in case of Death.

  • In case of the Unit Recipient’s Death, any amounts to be distributed to the Unit Recipient under this Article V with respect to which a designation of beneficiary has been made (to the extent it is valid and enforceable under applicable law) shall be distributed in accordance with this Article V to the designated beneficiary or beneficiaries.

  • If there shall be any question as to the legal right of any beneficiary to receive a distribution under this Article V, the amount in question may be paid to the estate of the Unit Recipient, in which event the Corporation shall have no further liability to anyone with respect to such amount.

  • In the event of the termination of the Unit Recipient’s status as an Eligible Employee prior to the end of any Performance Period for any reason other than Death, Disability or Retirement, all Units awarded to the Unit Recipient with respect to any such Performance Period shall be immediately forfeited and canceled.

  • The amount distributable to a Unit Recipient upon Death and not subject to such a designation shall be distributed to the Unit Recipient’s estate.

  • Notwithstanding any other provision of this Plan, the Committee may reduce or eliminate awards to a Unit Recipient who has been demoted to a lower job grade classification, and where circumstances warrant, may permit continued participation, proration or early distribution, or a combination thereof, of awards which would otherwise be canceled.


More Definitions of Unit Recipient

Unit Recipient means the direct or indirect owner of a -------------- Partnership interest who will receive Units pursuant to Section 2.2(b) hereof.
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Unit Recipient means (i) any Contributor who acquires OP Units at a Closing, (ii) the individuals, trusts and/or entities designated by any Contributor to acquire OP Units at a Closing pursuant to Section 1.2(b) or (iii) the individuals, trusts and/or entities that are expected to receive OP Units from a Contributor in connection with such Contributor’s dissolution and liquidation contemplated by Section 1.2(a). (mmm) “Valuation” is defined in Section 1.2(a). [Signature Pages to Follow]
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Related to Unit Recipient

  • Sub-Recipient means a partner, joint venturer, director, employee, agent and subcontractors of a Recipient to whom a Recipient must disclose Confidential Information.

  • Grant Recipient means a nonprofit or governmental organization that receives funds to operate a center pursuant to this act.

  • Designated recipient means a person chosen by a user using an online tool to administer digital assets of the user.

  • Award Recipient means the person, entity or entities that are to receive or have received grant funds through an award from the Illinois State Board of Education. The terms "grantee" and "award recipient" may be used interchangeably.

  • Company Service Provider means a Company Employee, a Company Independent Contractor or a member of the Company Board.

  • Qualified recipient means a person certified by a qualified organization as meeting all of the following qualifications:

  • Primary recipient means any recipi- ent which is authorized or required to extend or distribute Federal financial assistance to another recipient.

  • Service Recipient means, with respect to a Participant holding a given Award, the member of the Company Group by which the original recipient of such Award is, or following a Termination was most recently, principally employed or to which such original recipient provides, or following a Termination was most recently providing, services, as applicable.

  • Prime Recipient means a Colorado State agency or institution of higher education that receives an Award.

  • Intended Recipient means any person or party to whom any Messages are intended by the sender to be sent through or incidental to any of the Tradelink Services.

  • Payment Recipient has the meaning assigned to it in Section 8.09(a).

  • Awardee means the holder of an outstanding Award.

  • Sub-Service Provider means any person / firm / Organization / company /entity (other than the Service Provider) and it’s legal representatives, successors and permitted assigns named in the Contract as a Sub-Service Provider for a part of the Services or to whom a part of the Services has been sub-Contracted with the written prior consent of the Employer.

  • Telecom Service Provider means any Telecom operator in India, who is licensed by the Department of Telecommunications (DOT), Government of India to provide telecom services to the general public or to the other DOT licensed Telecom operators. "Telecom Service Provider" also refers to any Telecom operator in other countries providing telecom services to general public of that country or to other telecom operators of the same country.

  • Unit Holder means the owner of one or more Units.

  • Eligible Recipients means all Employees, all Non-Employee Directors and all Consultants.

  • Grantee means the Party receiving funds under this Contract. May also be referred to as "Contractor" in certain attachments.

  • Partnership Employee means an employee or other service provider of the Partnership or of a Subsidiary of the Partnership, if any, acting in such capacity.

  • Cloud Service Provider or CSP means a company or organization that offers some component of cloud computing – typically Infrastructure as a Service (IaaS), Software as a Service (SaaS) or Platform as a Service (PaaS) – to other businesses, organizations or individuals.

  • Eligible Recipient means an employee, director or independent contractor of the Company or any Affiliate of the Company who has been selected as an eligible participant by the Administrator; provided, however, to the extent required to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, an Eligible Recipient of an Option or a Stock Appreciation Right means an employee, non-employee director or independent contractor of the Company or any Affiliate of the Company with respect to whom the Company is an “eligible issuer of service recipient stock” within the meaning of Section 409A of the Code.

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • Membership service means service as an employee rendered while a contributing member of the

  • Permitted Recipients means the parties to this agreement, the employees of each party and any third parties engaged to perform obligations in connection with this Agreement;

  • Option Holder means a Person or Entity who holds an unexercised and unexpired Option or, where applicable, the Personal Representative of such person.

  • Service member means a member of the armed forces, a reserve branch of the armed forces, or the Michigan national guard.

  • Nominated Recipient means a person appointed by You to receive particular FIT Payments and recorded as such on the Central FiT Register;