CARET Units definition

CARET Units has the meaning provided in the CARET LLC Agreement or any such successor units issued by the Borrower or any of its Affiliates.

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CARET Units has the meaning provided in the Safehold GL Holdings LLC Agreement or any such successor units issued by the Borrower or any of its Affiliates.

CARET Units means units of membership interest in CARET Issuer designated as CARET Units under the LLC Agreement, as the same may be amended from time to time or interests therein that are intended to qualify as profits interests for federal income tax purposes.

Examples of CARET Units in a sentence

Notwithstanding anything herein to the contrary, the Borrower and its Restricted Subsidiaries may declare and make, directly or indirectly, dividend payments or other distributions payable solely in the GL Units or CARET Units in such Person.
The CARET Units issued hereunder shall all be a single class of Units that are pari passu within the class as to economic matters.
All distributions to such CARET Units with respect to which the Company Record Date is before the date of such Transfer or assignment shall be made to the transferor Member and all distributions thereafter attributable to such CARET Units shall be made to the transferee Member.
In connection with any such Capital Contribution, the Board is hereby authorized to cause the Company from time to time to issue additional Units (as set forth in Section 4.3 above) in consideration therefor, subject to the Issuance Limitation on CARET Units.
The Granted Interests and CARET Units are “restricted securities” as that term is defined in Rule 144 promulgated under the Securities Act; iii.
From and after the Effective Date, all documentation pertaining to the Plan, each Award and each Award Agreement shall be deemed amended as necessary to reflect the exchange of the CARET Units issued by the Prior CARET Issuer for CARET Units issued by Holdings and to provide that references to the Prior CARET Issuer or CMH, as applicable, in such documentation shall refer to Assignee.
Only CARET Issuer can register the CARET Units under the Securities Act and applicable state securities laws, but it is not anticipated that the CARET Units will be registered in any event; v.
The Company is authorized to issue up to 12,000,000 CARET Units, in the aggregate (the “Issuance Limitation”); provided, however, that the Issuance Limitation shall not prevent the Company from undertaking one or more splits or reverse splits of the then- outstanding CARET Units in the sole discretion of the Board, subject to Section 9.5 and any applicable law.
The terms and provisions of the GL Units, CARET Units and Preferred Units are further detailed in ARTICLE V, ARTICLE VI and ARTICLE VII, respectively, below.
In the event that the Company issues additional CARET Units pursuant to the provisions of Article IV (subject to the Issuance Limitation and the terms of Section 9.3 and Section 4.3(a)), the Managing Member is hereby authorized, without the consent of any other Person, to make such revisions to amend this Agreement as required or desirable to reflect such issuance or the terms thereof (as determined by the Managing Member) without the consent of any Member.

More Definitions of CARET Units

CARET Units has the meaning provided in the Safehold GL Holdings LLC Agreement or any such successor units issued by the Borrower or any of its Affiliates. “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the L/C Issuer or the Lenders, as collateral for L/C Obligations or obligations of the Lenders to fund participations in respect of L/C Obligations, cash or deposit account balances or, if the Administrative Agent and the L/C Issuer(s) shall agree in their sole discretion, other credit support, in each case pursuant to documentation in form and substance satisfactory to the Administrative Agent and the L/C Issuer(s). “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. “Cash Equivalents” means (a) cash; (b) marketable direct obligations issued or unconditionally guaranteed by the United States Government or issued by an agency thereof and backed by the full faith and credit of the United States, in each case maturing within one (1) year after the date of acquisition thereof; (c) securities issued by any state or commonwealth of the United States of America or any political subdivision or taxing authority of any such state or commonwealth or any public instrumentality thereof or any political subdivision or taxing authority of any such state or commonwealth or any public instrumentality, in each case maturing within one year from the date of acquisition thereof and having, at such date of acquisition, at least an A-1 credit rating from S&P or a F1 credit rating from Fitch or a P-1 credit rating from ▇▇▇▇▇’▇; (d) commercial paper (foreign and domestic) or master notes, other than commercial paper or master notes issued by the Borrower or any of its Affiliates, and, at the time of acquisition, having a long-term rating of at least A or the equivalent from S&P, ▇▇▇▇▇’▇ or ▇▇▇▇▇ and having a short-term rating of at least A-1, P-1 and F-1 from S&P, ▇▇▇▇▇’▇ and ▇▇▇▇▇, respectively (or, if at any time neither S&P nor ▇▇▇▇▇’▇ nor ▇▇▇▇▇ shall be rating such obligations, then the highest rating from such other nationally recognized rating services acceptable to the Administrative Agent); (e) domestic and foreign certificates of deposit or domestic time deposits or foreign deposits or bankers’ acceptances (foreign or domestic) in Dollars that are issued by a bank (I) which has, at the time of acquisition, a...

CARET Units means and refer to CARET Units (as defined in the Holdings LLC Agreement) of Holdings.