Vesting Agreement definition

Vesting Agreement means each or any, as the context implies, agreement or instrument entered into by a holder of LTIP Units upon acceptance of an award of LTIP Units under an Equity Incentive Plan.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Vesting Agreement has the meaning set forth in Section 16.2.A hereof.

Vesting Agreement means each or any, as the context implies, vesting agreement entered into by a Profits Interest Unitholder upon acceptance of an award of Unvested Profits Interest Units under the Plan (as such agreement may be amended, modified or supplemented from time to time), including any Class C Units Agreements and Class D Units Agreements.

Examples of Vesting Agreement in a sentence

• Unless otherwise specified in the relevant Vesting Agreement, no consideration or other payment shall be due with respect to any LTIP Units that have been forfeited; provided that with respect to any distribution declared with a record date prior to the effective date of such forfeiture, such forfeited LTIP Units shall be included in calculating the applicable holder’s Percentage Interest.

• Any certificate evidencing an LTIP Unit shall bear an appropriate legend indicating that additional terms, conditions and restrictions on transfer, including provisions set forth in the Vesting Agreement, apply to the LTIP Unit.

• The terms of any Vesting Agreement may be modified by the Managing Member from time to time in its sole discretion, subject to any restrictions on amendment imposed by the relevant Vesting Agreement or by the terms of any equity incentive plan pursuant to which the LTIP Units are issued, if applicable.

• Unless otherwise specified in the relevant Vesting Agreement, upon the occurrence of any event specified in a Vesting Agreement resulting in either the forfeiture of any LTIP Units or the repurchase thereof by the Company at a specified purchase price, then, upon the occurrence of the circumstances resulting in such forfeiture or repurchase by the Company, the relevant LTIP Units shall immediately, and without any further action, be treated as cancelled and no longer outstanding for any purpose.

More Definitions of Vesting Agreement

Vesting Agreement has the meaning set forth in Section 1.2 of Exhibit C hereto.

Vesting Agreement means each or any, as the context implies, LTIP Unit Award Agreement entered into by a LTIP Unitholder upon acceptance of an award of LTIP Units under the Plan (as such agreement may be amended, modified or supplemented from time to time).

Vesting Agreement shall have the meaning set forth in Section 1.2 of Schedule H hereto.

Vesting Agreement has the meaning set forth in Exhibit E attached hereto.

Vesting Agreement has the meaning set forth in Section 3 of this Designation.

Vesting Agreement means each or any, as the context implies, Profits Interest Plan (PI Plan) Vesting Agreement entered into by a PI Unitholder upon acceptance of an award of PI Units under the Plan (as such agreement may be amended, modified or supplemented from time to time).

Vesting Agreement means an award, vesting or other similar agreement setting forth the terms under which any number of LTIP Units are subject to vesting, forfeiture and additional restrictions on transfer. The terms of any Vesting Agreement may be modified by the Manager from time to time in its sole discretion, subject to any restrictions on amendment imposed by the relevant Vesting Agreement or by the terms of any plan pursuant to which the LTIP Units are issued, if applicable.