Vested Profits Units definition

Vested Profits Units means any Profits Units that have vested pursuant to this Agreement or the Restricted Unit Agreement under which such Units have been granted.
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Vested Profits Units has the meaning set forth in the OpCo Agreement.
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Vested Profits Units means Award Profits Units that have satisfied the time-based or accelerated vesting requirements of an Award Agreement and in addition in the case of Performance Profits Units, the performance goals (as described in the Plan) over a period of up to ten (10) years as set forth in the related Award Agreement.
Sample 1

Examples of Vested Profits Units in a sentence

  • Notwithstanding any provision of the Plan to the contrary (including Section 9.5.1 thereof), the Participant, as a holder of Regular Profits Units and Performance Profits Units (as Award Profits Units or Vested Profits Units) shall be entitled to receive the distributions to the extent provided for in the Certificate of Designation of Series 20[ ] Profits Units (which is the applicable “Profits Units Designation” as defined under the Partnership Agreement).

  • Vested Profits Units will be entitled to be voted on an equal basis with the Units of Partnership Interest.

  • On the Full Conversion Date, the Vested Profits Units held by a Profits Unitholder shall automatically convert on a one-to-one basis and without any action required by such Vested Profits Unitholder, to Units of Partnership Interest.

  • The number of Vested Profits Units specified in the Partial Conversion Notice is limited as provided in Section 4.2 hereof.

  • The Profits Unitholder may give a Partial Conversion Notice with respect to Unvested Profits Units, provided that such Unvested Profits Units become Vested Profits Units on or prior to the Conversion Date.

  • The maximum number of Vested Profits Units that a Profits Unitholder may convert prior to the Full Conversion Date is equal to the product of (a) the result obtained by dividing (1) the Economic Capital Account Balance of such Profits Unitholder’s Vested Profits Units by (2) the Target Balance of such Vested Profits Units, in each case determined as of the effective date of the conversion and (b) the number of such Vested Profits Units.

  • Holders of Award Profits Units shall not be entitled to vote on any other matter submitted to the Limited Partners for their approval unless and until such units constitute Vested Profits Units.

  • The Participant, as a holder of Regular TRG Units and Performance TRG Units (as Award Profits Units or Vested Profits Units) shall be entitled to receive the distributions to the extent provided for in the Certificate of Designation of Series [ ] Profits Units (which is the applicable “Profits Units Designation” as defined under the Partnership Agreement).

  • Vested Profits Units shall be treated as Units of Partnership Interest with respect to the allocation of Profits and Losses; provided, that until such time as the Economic Capital Account Balance of such Profits Unitholder has been increased to the Target Balance, Liquidating Gain and Liquidating Loss shall be allocated to each holder of the Profits Units as provided in Section 3.1 hereof.

  • With respect to the Profit Unitholders, such Liquidating Loss shall be allocated first to the holders of the Unvested Profits Units and Unvested Other Profits Units, and second to the holders of Vested Profits Units and Vested Other Profits Units, in each case, first to the Performance-Based Profits Units and next to the Time-Based Profits Units.


More Definitions of Vested Profits Units

Vested Profits Units means Profits Units that have become vested pursuant to this Agreement due to the passage of time as provided for herein or as a result of their vesting being accelerated pursuant to the terms herein.
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Related to Vested Profits Units

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

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

  • 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.

  • 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.

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

  • Deferred member means a person who elected to receive deferred vested retirement

  • Net Profits Interest means an interest in a Producing Property which entitles the holder thereof to a share of the gross revenues from oil and gas production from the Producing Property less all operating, production, development, transportation, transmission and marketing expenses, severance, sales, ad valorem and excise taxes (including the windfall profit tax) attributable to such production.

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • Deferred Share Unit or “DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7;

  • Deferred Share means a Share which by its terms of issue is a deferred share as defined in the Statutes and includes a permanent interest bearing share and a Core Capital Deferred Share;

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • 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.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • LTIP Unitholder means a Partner that holds LTIP Units.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • LTIP Award means each or any, as the context requires, LTIP Award issued under any Equity Incentive Plan.

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • Class B Units means the Class B Units of the Company.

  • LTIP means the Long-Term Incentive Plan of the General Partner, as may be amended, or any equity compensation plan successor thereto.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • RSUs means that number of Restricted Stock Units listed in the Award Notice as “Restricted Stock Units Granted.”

  • PSUs means the outstanding performance share units governed by the performance share unit plan of the Company dated December 16, 2013, as amended from time to time;

  • Deferred Stock means a right to receive a specified number of shares of Stock during specified time periods pursuant to Article 8.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.