Participation Threshold definition
Participation Threshold has the meaning set forth in Section 3.3(e)(i). “Partnership Audit Rules” has the meaning set forth in Section 12.3(b). “Partnership Representative” has the meaning set forth in Section 12.3(b). “Permitted Persons” has the meaning set forth in Section 11.2(a).
Participation Threshold has the meaning set forth in Section 3.6(c).
Participation Threshold means, with respect to each outstanding Class B Common Unit, an amount determined, and adjusted from time to time, in accordance with Section 3.5(b).
Examples of Participation Threshold in a sentence
As determined by the Board, the terms of any Profits Interest Units issued pursuant to this Section 3.05 may include limitations on the Distribution entitlements of such Profits Interest Units, including by establishing a Participation Threshold for such Profits Interest Units intended to qualify as “profits interests” within the meaning of the Applicable Profits Interest Guidance.
Notwithstanding anything in this Article VII to the contrary, no distributions shall be made in respect of any Profits Interest Unit that, as of the date of distribution, has a Participation Threshold that is greater than zero.
More Definitions of Participation Threshold
Participation Threshold has the meaning set forth in the LLC Agreement
Participation Threshold with respect to an Incentive Unit, is equal to the sum of (x) $[_] and (y) the Deemed Unit Price applicable to such Incentive Unit (if any), as adjusted for any changes to the capital structure from time to time. Each Incentive Unit’s Participation Threshold shall be adjusted after the grant of such Incentive Unit as follows:
Participation Threshold has the meaning given in clause 17.2; PRS has the meaning given in clause 28.1;
Participation Threshold means, with respect to certain outstanding Employee Incentive Units, an amount determined, and adjusted from time to time, in accordance with Section 3.6 hereof.
Participation Threshold means, with respect to each Award, an amount determined, and adjusted from time to time, by the Administrator. A Participant will not be entitled to receive any Distributions in respect of an Award until the Administrator determines in its sole discretion that an amount of value equal to the Participation Threshold has been distributed after the Award’s date of grant in accordance with the terms of the Participant’s Grant Agreement and otherwise satisfies any requirements under the Plan, the Participant’s Grant Agreement and the LLC Agreement. Unless otherwise determined by the Administrator, the Participation Threshold applicable to Awards granted under the Plan will be applied consistently with the Participation Thresholds applicable to the Class B Units issued under the LLC Agreement, taking into consideration any classes, groups and series thereof. Notwithstanding anything to the contrary in the Plan, for purposes of the Class B Units, the term “Participation Threshold” shall not be administered in a manner inconsistent with the terms of the LLC Agreement and the actions of the Manager pursuant thereto. In the event that the Administrator determines that stated Participation Threshold could cause the Class B Units to fail to qualify as profits interests under Rev. Procs. 93-27 and 2001-43 as of the date of their issuance, then the Administrator shall consider in good faith modification or amendment to the Participation Threshold to cause the Class B Units to so qualify.
Participation Threshold is defined in Section 3.2(e).
Participation Threshold has the meaning set forth in the Holdings LLCA.