Unvested Class B Unit definition

Unvested Class B Unit means any Class B Units (whether granted or available to be granted hereunder) which are not Vested Class B Units.
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Unvested Class B Unit pursuant to the terms of the applicable Equity Award Agreement (an “Unvested Distribution Amount”) shall not be paid over to such Class B Member until such Class B Common Unit vests (“Vested Class B Unit”) in accordance with the applicable Equity Award Agreement. All Unvested Distribution Amounts shall be held by the Company in a segregated account until released to the applicable Class B Member in accordance with the terms of this Agreement and the applicable Equity Award Agreement. If any Class B Common Unit is forfeited or cancelled prior to vesting, any Unvested Distribution Amounts held by the Company with respect to such Class B Common Unit shall be forfeited and returned to the general accounts of the Company.
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Unvested Class B Unit has the meaning assigned in Section 6.1(d)(ii).
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Examples of Unvested Class B Unit in a sentence

  • Unvested Class B Units shall vest or remain unvested in the manner and subject to the conditions set forth in the applicable Incentive Unit Award Agreement under which such Class B Units are granted; provided, however, that the Managing Member may, in its sole discretion, accelerate the vesting of any Unvested Class B Unit and modify the number of Unvested Class B Units subject to any call right of the Company pursuant to the applicable Incentive Unit Award Agreement.

  • The purchase price for each Unvested Class B Unit and each Class C Unit shall be the lesser of the Fair Market Value for each such unit and the Executive's Original Cost for each such unit.

Related to Unvested Class B Unit

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Class B Units means the Class B Units of the Company.

  • Unvested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • LTIP Units means a Partnership Unit which is designated as an LTIP Unit and which has the rights, preferences and other privileges designated in Section 4.6 and elsewhere in this Agreement in respect of holders of LTIP Units. The allocation of LTIP Units among the Partners shall be set forth in the Partner Registry, as it may be amended or restated from time to time.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class C Member means a Member holding the Class C Ordinary Share.

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Class B Share means a Class B ordinary share of a par value of US$0.0001 in the share capital of the Company.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Aggregate Class B Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the Note Class Interest Distributable Amount for the Class B Notes as of such Distribution Date and (ii) the Class B Interest Carryover Shortfall as of the close of the preceding Distribution Date.

  • Unvested Units means any Executive Units which are not Vested Units.

  • Class C Shares means the shares of Class C common stock of the Company.

  • Class C Unit means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners and Assignees, and having the rights and obligations specified with respect to the Class C Units in this Agreement. The term “Class C Unit” does not refer to a Common Unit until such Class C Unit has converted into a Common Unit pursuant to the terms hereof.

  • Class B Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class B Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class B Rate or, in the case of the first Payment Date, on the Class B Initial Principal Balance.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class B Investor Interest means, on any date of determination, an amount equal to (a) the Class B Initial Investor Interest, minus (b) the aggregate amount of principal payments made to Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Transfer Dates pursuant to subsection 4.10(b), minus (d) the amount of the Reallocated Class B Principal Collections allocated pursuant to subsection 4.12(a) on all prior Transfer Dates for which the Collateral Interest Amount has not been reduced, minus (e) an amount equal to the amount by which the Class B Investor Interest has been reduced on all prior Transfer Dates pursuant to subsection 4.10(a) and plus (f) the aggregate amount of Excess Spread allocated and available on all prior Transfer Dates pursuant to subsection 4.11(d) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Investor Interest may not be reduced below zero.

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Class B Invested Amount means, on any date of determination, an amount equal to (a) the Class B Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Distribution Dates, minus (d) the amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to subsection 4.08(a) (excluding any Reallocated Principal Collections that have resulted in a reduction in the Collateral Invested Amount pursuant to Section 4.08), minus (e) an amount equal to the amount by which the Class B Invested Amount has been reduced on all prior Distribution Dates pursuant to subsection 4.06(a) and plus (f) the amount of Excess Spread and Excess Finance Charge Collections allocated and available on all prior Distribution Dates pursuant to subsection 4.07(e) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Invested Amount may not be reduced below zero.

  • Class D Unit means a Partnership Unit entitling the holder thereof to the rights of a holder of a Class D Unit as provided in this Agreement.

  • Class B Ordinary Share means an Ordinary Share of a par value of US$0.0001 in the capital of the Company, designated as a Class B Ordinary Share and having the rights provided for in these Articles;

  • Class B Percentage Interest means, with respect to a Class B Member as of a given date, that percentage obtained by dividing the total number of Class B Units owned by such Member by the total number of Class B Units issued and outstanding.

  • Class B Shares means the Class B ordinary Shares in the capital of the Company of $0.0001 nominal or par value designated as Class B Shares, and having the rights provided for in these Articles.

  • Class A Unit means any Partnership Unit that is not specifically designated by the General Partner as being of another specified class of Partnership Units.

  • LTIP Unitholder means a Partner that holds LTIP Units.

  • Company Class B Common Stock means the Class B common stock, par value $0.01 per share, of the Company.