Units or Unit definition
Examples of Units or Unit in a sentence
In the event that any redemption or other action by the Company has resulted in any Member owning such number of Units or Unit Equivalents that is in violation of the provisions of Section 3.5, the Company shall have the right to and shall promptly after confirming such violation, redeem such Units or Unit Equivalents for a price per Unit or Unit Equivalent, as applicable, equal to Fair Market Value, and otherwise pursuant to the provisions of this Section 3.7(c) and subject to Section 3.8.
Written notice shall be given by the Company to the holders of the redeemable Units or Unit Equivalents at the address of such holders appearing on the books of the Company, which notice shall specify a date for redemption of such Units or Unit Equivalents that shall be not less than ten (10) days nor more than thirty (30) days from the date of such notice.
In satisfaction of the foregoing requirement with respect to the grant, vesting, distribution or payment of the Units or Unit Shares, to the extent permitted by Section 409A of the Code, including Treas.
Any Units or Unit Equivalents which have been so called for redemption shall not be deemed outstanding Units or Unit Equivalents after the date on which written notice of redemption has been given to the holders of those Units or Unit Equivalents if a sum sufficient to redeem such Units or Unit Equivalents shall have been irrevocably deposited or set aside to pay the redemption price to the holders of the Units or Unit Equivalents.
The number of Units or Unit Equivalents to be redeemed by the Company pursuant to the preceding sentence shall be calculated by the Company after taking into account the fact that immediately upon their redemption such redeemed Units or Unit Equivalents shall become treasury shares and shall no longer be deemed to be outstanding.
For Awards that are Performance Units, Restricted Units, or Unit Options, your rights under this Agreement will pass to and may be exercised after your death by your estate, and any payments remaining unpaid at your death will be paid to your estate, in each case except as otherwise required by law.
Any transfer or attempted transfer made in violation of this Agreement shall be void and neither Navigant nor the Company shall recognize or give effect to such transfer on its books and records, or recognize the persons or entities to whom such transfer has been made as the legal or beneficial holder of the Units or Unit Option.
As soon as practicable after the Effective Time, the Exchange Agent, as agent for the holders of Common Units, Class F Units or Unit Options that would otherwise receive fractional Parent Units, shall sell the Excess Units at then-prevailing prices on the NYSE in the manner provided in this Section 2.2(h) and such sales shall be executed in round lots to the extent practicable.
Until the unit proceeds of such sale or sales have been distributed to the holders of such Common Units, Class F Units or Unit Options, or the Exchange Fund is terminated, the Exchange Agent shall hold such unit proceeds in trust for the benefit of the holders of such Common Units, Class F Units and Unit Options (the “Fractional Unit Proceeds”).
For purposes of this Section S-13, “Phantom Stock-Based Award” refers to an Award that is Performance Units, Restricted Units, or Unit Options that are the subject of the Award Agreement.