Unvested Common Units definition
Examples of Unvested Common Units in a sentence
Except as otherwise provided for in the LLC Agreement, Management Stockholder shall have no voting rights with respect to the Unvested Common Units.
The Separation Repurchase Notice will set forth the number of Unvested Common Units and Vested Units to be acquired from each holder, the aggregate consideration to be paid for such units and the time and place for the closing of the transaction.
The number of Unvested Common Units and Vested Units to be repurchased hereunder will be allocated among Executive and the Permitted Transferee(s) of Executive Securities (if any) PRO RATA according to the number of Executive Securities to be purchased from such Person.
Unvested Common Units and Unvested Class C Common Incentive Units that fail to vest and are forfeited by the applicable Member shall be cancelled by the Company (and shares of Class B Common Stock held by the applicable Member shall be cancelled, in each case for no consideration) and shall not be entitled to any distributions under this Agreement.
Distributions shall not be made in respect of Unvested Common Units (other than Unvested Common Units that correspond to Participating Unvested Common Units (as such term is defined in the Holdco LLC Agreement)).
Unvested Common Units that fail to vest and are forfeited by the applicable Member shall be cancelled by the Company and shall not be entitled to any distributions pursuant to Section 5.03.
The Repurchase Notice will set forth the number of Executive Units, including the number of Unvested Common Units and Vested Common Units, to be acquired from the recipient holder, the aggregate consideration to be paid for such Units and the time and place for the closing of the transaction.
Distributions shall not be made in respect of Unvested Common Units.
Unvested Common Units that fail to vest and are forfeited by the applicable Unvested Member shall be cancelled by the Company (and the corresponding shares of Class C Common Stock constituting the remainder of any Paired Interests in which such Unvested Common Units were included shall be cancelled by Pubco, in each case for no consideration) and shall not be entitled to any distributions pursuant to Section 5.03.
In connection with such reclassification, Common Units reclassified from Class A-2 Capital Interests, Class A-2 Profits Interests or Class B Interests that were subject to vesting restrictions immediately prior to the Reorganization have been hereby reclassified as Unvested Common Units on terms set forth in the Employee Equity Letters and the MIP.