NBP LLC definition
Examples of NBP LLC in a sentence
NBI shall assume and honor all unused vacation and other time-off earned or accrued by Service Employees for service with NBP LLC prior to the Effective Date (which shall be reimbursable as Employee Costs).
This Agreement shall terminate, with no further action necessary by either NBP LLC or NBI, on the date that NBI ceases to be the Manager of NBP LLC pursuant to the terms of the LLC Agreement.
The parties shall report an Exchange consummated pursuant to this Agreement as a taxable sale of NBP LLC Units by the exchanging Member to National Beef and no party shall take a contrary position on any tax return.
The invoice shall also include any adjustment in the amount owed by NBP LLC based on any difference between the prior estimated Services Fees and actual Services Fees that have been accounted for in the preceding month.
NBP LLC and NBI shall take all actions required or appropriate to provide that NBI shall adopt, as a participating employer, the health and welfare benefit plans and other fringe benefits sponsored by NBP LLC for its employees (the “Health and Welfare Plans”) to permit eligible NBI employees and their covered dependents to participate in the Health and Welfare Plans.
Section 3.3(c) of the LLC Agreement shall govern the terms and conditions relating to authorization and issuance of additional units of NBP LLC in connection with equity compensation awards under the NBI Equity Incentive Plan to employees and other service providers of NBI and NBP LLC.
The balance owed to NBI or NBP LLC, as applicable, shall be paid by the other party within [15] days following receipt of the final invoice.
This right is being created so that the Founding Members can convert their ownership in NBP LLC into stock of a publicly traded corporation on a tax-free basis.
NBP LLC shall provide other reasonable supporting services for NBI including: management, sales, marketing, advertisement production, distribution, information technology, human resources, and legal supporting services on the same or similar terms as such services are provided to NBP LLC.
NBP LLC shall pay NBI the Services Fee and Reimbursable Costs set forth in the invoice in immediately available funds within [10] days following receipt of such invoice.