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

  • 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).

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.