Vested Class C Units definition

Vested Class C Units means any Class C Units that (i) are issued upon exercise of any Options for Class C Units or (ii) are Vested Class C Units under the terms of any Unit Grant Agreement pursuant to which such Class C Units were issued.
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Vested Class C Units means with respect to a given Securityholder the number of Vested Class C-1 Units (as defined in the LLC Agreement) and Vested Class C-2 Units (as defined in the LLC Agreement) owned as of a given time of determination.
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Vested Class C Units has the meaning set forth in Section 17.2(e).
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Examples of Vested Class C Units in a sentence

  • Each Unit Grant Agreement, if any, shall specify whether the Class C Units issued pursuant thereto are initially Vested Class C Units or Unvested Class C Units, and the terms upon which any Unvested Class C Units may become Vested Class C Units.

  • Under the terms of this Agreement, the issuance of any Class B Units after the Effective Date will not dilute the Percentage Interest represented by any Vested Class C Units.

  • Solely for purposes of determining a Member’s proportionate share of the “excess nonrecourse liabilities” of the Company within the meaning of Treasury Regulations Section 1.752-3(a)(3), the Members’ interests in Company profits shall be in proportion to their respective Percentage Interests (provided, that for this purpose all outstanding Class C Units shall be treated as if they were Vested Class C Units).

  • Allocations and distributions on Class C Units will only be made to Vested Class C Units.

  • Each holder of Class C Units covenants and agrees with the Partnership that all Vested Class C Units to be converted pursuant to this Section 17.4 shall be free and clear of all liens.

  • For purposes of valuing the Class B Units and Vested Class C Units under this clause (ii), the Class B Units shall be valued at the per Unit price initially offered by the Third Party to the member of the THL Group selling Class B Units in such transaction, and the Vested Class C Units shall be valued at their Fair Market Value.

  • The conversion of Vested Class C Units shall occur automatically after the close of business on the applicable Class C Unit Conversion Date without any action on the part of such holder of Vested Class C Units, as of which time such holder of Vested Class C Units shall be credited on the books and records of the Partnership with the issuance as of the opening of business on the next day of the number of OP Units issuable upon such conversion.

  • In connection with a Company Transaction, a participant may elect to convert his or her Vested Class C Units on a “cashless” basis, in which case the number of Class A Units issuable by the Company upon such conversion shall be reduced by a number equal to the quotient of the amount of the payment required by Section 7(a) below divided by the fair market value of a Class A Unit as of the date of the conversion (as determined by the Committee in good faith).

Related to Vested Class C Units

  • Class C Units The term "Class C Units" shall have the meaning set forth in the preface.

  • 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 Units means the Class B Units of the Company.

  • LTIP Units means LTIP Units, as such term is defined in the Partnership Agreement.

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

  • Class C Shares means shares of the Class C Common Stock.

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

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

  • Class B Interests As set forth in the Trust Agreement.

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

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

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.

  • Vested Units means those Units listed as vested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

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

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Unvested Units means those Units listed as unvested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Current Class B Interest Distribution Amount As to any Distribution Date, the amount distributed in respect of the Classes of Class B Certificates pursuant to Paragraphs fifth, eighth, eleventh, fourteenth, seventeenth and twentieth of Section 4.01(a) on such Distribution Date.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • 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.

  • 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.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Class A-PO Deferred Amount For any Distribution Date prior to the Subordination Depletion Date, the difference between (A) the sum of (x) the amount by which the sum of the Class A-PO Optimal Principal Amounts for all prior Distribution Dates exceeded the amounts distributed on the Class A-PO Certificates on such prior Distribution Dates pursuant to Paragraph third clause (2) of Section 4.01(a) and (y) the sum of the product for each Discount Mortgage Loan which became a Liquidated Loan at any time on or prior to the last day of the Applicable Unscheduled Principal Receipt Period for Full Unscheduled Principal Receipts for the current Distribution Date of (a) the PO Fraction for such Discount Mortgage Loan and (b) an amount equal to the principal portion of Realized Losses (other than Bankruptcy Losses due to Debt Service Reductions) incurred with respect to such Discount Mortgage Loan and (B) the sum of (x) the sum of the Class A-PO Recoveries for such Distribution Date and prior Distribution Dates and (y) amounts distributed on the Class A-PO Certificates on prior Distribution Dates pursuant to Paragraph fourth of Section 4.01(a). On and after the Subordination Depletion Date, the Class A-PO Deferred Amount will be zero. No interest will accrue on any Class A-PO Deferred Amount.

  • Class C Distributable Amount As defined in the Preliminary Statement.

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.