Examples of Unit Restriction Agreement in a sentence
Unless otherwise determined by the Board of Directors in its sole discretion and set forth in an applicable Unit Restriction Agreement, Units that are not Vested shall not participate in allocations of Net Profit or Net Loss.
No Grant shall be a valid and binding obligation of the Company unless evidenced by a fully-executed Unit Restriction Agreement.
To the extent that a Unit is forfeited, cancelled, purchased or repurchased, or redeemed for any reason (including pursuant to the terms of any Unit Restriction Agreement or this Agreement), the Corresponding Unit contributed in exchange for such Unit or in respect of which such Unit was issued shall be likewise and simultaneously forfeited, cancelled, purchased or repurchased, or redeemed for identical consideration to be paid by the Company to the Member for the Unit, as and when paid by the Company.
In the event that neither the Divorced Member nor the Plan exercises the right of repurchase of any Units Transferred to a Divorced Spouse hereunder, then such Units retained by the Divorced Spouse shall remain subject to the put rights, call rights, repurchase rights, co-sale rights, drag-along rights, tag-along rights, and all other rights and obligations applicable to the Units retained by the Divorced Member pursuant to this Agreement, the Grant Agreement, and the Unit Restriction Agreement.
Subject to your becoming employed by the Company and entering into an applicable Unit Restriction Agreement (the “Equity Agreement”), you will be granted 500 Common Units of the Company (subject to approval of the Board of the Company) on the terms and subject to the conditions in the Company’s Limited Liability Company Agreement and the Equity Agreement.
Upon exercise of the Option, the Optionee shall execute and deliver to the Company, a Unit Restriction Agreement in substantially the form attached to this Agreement as Exhibit A.
No Plan Interests (or any part thereof) may be Transferred except (a) to a Permitted Transferee, as provided in Section 9.4 below, (b) pursuant to an Involuntary Transfer, (c) to any other Person upon the written consent of the Board of Managers (which consent may be withheld in its complete discretion), or (d) as otherwise permitted or required pursuant to this Article IX, the Grant Agreement, or the Unit Restriction Agreement.
This document is being delivered to Brilliant Earth, LLC (the “Company”) pursuant to Section 1(b) of my Unit Restriction Agreement with the Company and Section 6.4 of the LLC Agreement.
Further, the Members acknowledge and agree that the Units and the corresponding Viant Interests are subject to the put rights, call rights, drag-along rights and tag-along rights set forth in the Unit Restriction Agreement.
By executing this Agreement, each Member that is party to a Unit Restriction Agreement with the Company (each, a “URA”) hereby acknowledges and agrees that effective as of the Closing, such URA is terminated and shall be of no further force and effect.