Vested Securities definition
Examples of Vested Securities in a sentence
Notwithstanding anything to the contrary contained in this Agreement or the LLC Agreement, the Executive may transfer any Vested Securities or Unvested Securities (or rights therein) to his estate upon his death or for estate planning purposes to his spouse, lineal descendants, or trusts for the benefit of such individuals of which Executive is the sole trustee, pursuant to arrangements approved by the Company.
If the prospective transferee fails to purchase Vested Securities from any Participating Securityholder as to which such Participating Securityholder has exercised its rights under this Section 5 and the Transferring Securityholder fails to purchase such Vested Securities from the Participating Securityholder, the Transferring Securityholder shall not be permitted to make the proposed Transfer and any such attempted Transfer shall be subject to the penalty provisions of Section 4(e).
Any Unvested Securities which the LLC (or its assignees) has not elected to repurchase in the Repurchase Notice (as defined below) (including Unvested Securities originally included in the Repurchase Notice, but for which the election to repurchase was rescinded, pursuant to the terms of Section 3, by the LLC and/or its assignees having made such election) shall thereafter be deemed Vested Securities, but shall continue to be subject to Section 4.
Each Participating Securityholder shall be required, to the extent possible, to transfer all of such Participating Securityholder’s Vested Securities of the same type and in the same proportion as the ▇▇▇▇ Securities proposed to be transferred by the Transferring Securityholder pursuant to the ▇▇▇▇ Investor Sale Notice.
The amount of Unvested Securities and Vested Securities to be repurchased hereunder shall be deemed to be allocated among Executive and the other holders of repurchased Executive Securities (to whom Executive has transferred Executive Securities pursuant to Section 4(c)(i)), if any, pro rata according to the amount of Executive Securities to be purchased from such persons.