Vested Class B Unit definition
Vested Class B Unit means the Class B Units which have vested in accordance with the terms set forth in Section 3.1(c), or to the extent such vesting terms are different, the applicable Restricted Unit Agreement.
Vested Class B Unit has the meaning set forth in the LLC Agreement.
Vested Class B Unit means any Class B Unit that has vested as of the date of determination pursuant to the terms of the applicable Award Agreement pursuant to which such Class B Unit was granted.
Examples of Vested Class B Unit in a sentence
The amount of any Applicable Distribution that would have otherwise been distributed in respect of such Unit that is an Unvested Class B Unit had such Unit been a Vested Class B Unit at the time of such initial Applicable Distribution (for each such Unvested Class B Unit, the “Unpaid Amount”) shall be distributed solely to the holders of Class A Units pro rata in accordance with their respective ownership of Class A Units at such time.
More Definitions of Vested Class B Unit
Vested Class B Unit has the meaning assigned in Section 6.1(d)(ii)
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.
Vested Class B Unit means, on any date of determination, any Class B Unit that corresponds to a Management Holdco Class B Unit that is “vested” in accordance with the Applicable Class B Unit Agreements applicable to such Management Holdco Class B Unit.