Unvested Points definition

Unvested Points shall have the meaning specified in Section 6.1 hereof.
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Unvested Points means, with respect to any Limited Partner as of the commencement of any Vesting Period, any amount by which (a) the total Points assigned to such Limited Partner as of such date, excluding, unless otherwise determined by the General Partner, any Points assigned to such Limited Partner pursuant to Section 7.3(c), exceed (b) such Limited Partner’s Vested Points, if any, as of such time. “Vested Points” means, with respect to any Limited Partner at any time, the sum of: 5
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Unvested Points means, with respect to any Limited Partner as of the commencement of any Vesting Period, any amount by which (a) the total Points assigned to such Limited Partner as of such date, excluding, unless otherwise determined by the General Partner, any Points assigned to such Limited Partner pursuant to Section 7.3(b), exceed (b) such Limited Partner's Vested Points, if any, as of such time. Any reduction of such Limited Partner's Points in connection with the admission of a new Partner or the increase of the Points of any existing Limited Partner pursuant to Section 6.1 shall first reduce such Limited Partner's Unvested Points to the extent thereof, and the balance of any such reduction shall be applied to such Limited Partner's Vested Points. “Vested Points” means, with respect to any Limited Partner at any time, the sum of: (a) with respect to the first Vesting Period, the product of (i) such Limited Partner's Points as of the commencement of the first Vesting Period multiplied by (ii) such Limited Partner's Vesting Percentage with respect to the first Vesting Period, plus (b) with respect to each Vesting Period after the first Vesting Period and without duplication (i) such Limited Partner's Vested Points, if any, as of the close of the immediately preceding Vesting Period, plus (ii) the product of (A) such Limited Partner's Unvested Points as of the commencement of such Vesting Period multiplied by (B) such Limited Partner's Vesting Percentage with respect to such Vesting Period. “Vesting Date” means, with respect to any Limited Partner,
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Examples of Unvested Points in a sentence

  • At any time, Partnership Points held by a Limited Partner which have not yet vested pursuant to the terms of this Section 6.1, shall be referred to as “Unvested Points.” Notwithstanding the foregoing, the General Partner may in its sole discretion accelerate the vesting of all or any portion of the Unvested Points held by any Limited Partner.

  • Such Limited Partner shall, upon such Forfeiture, cease to have any rights hereunder in respect of such Unvested Points and the related Partnership Interest.

  • Upon any Forfeiture, the General Partner shall be deemed to have acquired all of the Unvested Points of such Limited Partner (including the entire Partnership Interest with respect thereto).

  • The Participant may not sell, transfer, pledge, exchange, hypothecate, or otherwise dispose of (collectively referred to as "Transfer") Unvested Points.

  • At any time, Partnership Points of an LTEIP Series held by a Limited Partner which have not yet vested pursuant to the terms of this Section 6.2, shall be referred to as “Unvested Points.” Notwithstanding the foregoing, the General Partner may in its sole discretion accelerate the vesting of all or any portion of the Unvested Points held by any Limited Partner.

  • If any Transfer of Unvested Points is made or attempted, such Transfer shall be null and void and of no force and effect.

  • Upon any Forfeiture, the General Partner shall be deemed to have acquired all of the Unvested Points of such Individual Equityholder and each of his or her related Limited Partners (including the entire Partnership Interest with respect thereto).

  • Such Person shall, upon such Forfeiture, cease to have any rights hereunder in respect of such Unvested Points and the related Partnership Interest.

  • After application of the preceding sentence, all Unvested Points shall immediately and without notice be forfeited and Participant shall have no rights with respect to such Unvested Points.


More Definitions of Unvested Points

Unvested Points means Points that are subject to forfeiture pursuant to the terms of this Agreement.
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Unvested Points means, with respect to any Limited Partner as of the commencement of any Vesting Period, any amount by which (a) the total Points assigned to such Limited Partner as of such date, excluding, unless otherwise determined by the General Partner, any Points assigned to such Limited Partner pursuant to Section 7.3(b), exceed (b) such Limited Partner’s Vested Points, if any, as of such time. Any reduction of such Limited Partner’s Points in connection with the admission of a new Partner or the increase of the Points of any existing Limited Partner pursuant to Section 6.1 shall first reduce such Limited Partner’s Unvested Points to the extent thereof, and the balance of any such reduction shall be applied to such Limited Partner’s Vested Points;
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