Per Unit Payment definition
Per Unit Payment means, upon a Milestone Trigger Event, the payment per Unit equal to the Carveout Plan Milestone Payment for such Milestone Trigger Event divided by the aggregate number of Units outstanding as of the date of the applicable Milestone Trigger Event.
Per Unit Payment means, with respect to any Unit (including (a) any Unit into which a Company Warrant would have been converted had such Company Warrant been exercised in full immediately prior to the Effective Time and (b) any hypothetical Unit as to which payment upon a Qualified Liquidity Event is contemplated pursuant to Section 1.5(a) of the Exchangeable Promissory Note), the amount that would be distributed in respect of such Unit pursuant to Section 4.4 of the Partnership Agreement upon the consummation of a Qualified Liquidity Event that gives rise to an aggregate distribution amount equal to the calculation of the Purchase Price set forth in the Closing Statement.
Per Unit Payment means an amount equal to the quotient of (a) the sum of (i) the Estimated Closing Payment, minus (ii) the Indemnification Escrow Amount, minus (iii) the Working Capital Escrow Amount, minus, (iv) the Sellers’ Representative Expense Fund, plus (v) the Aggregate Option Exercise Price divided by (b) the Aggregate Units Deemed Outstanding.
Examples of Per Unit Payment in a sentence
Upon the occurrence of a Milestone Trigger Event, each Participant shall be entitled to receive a payment equal to the product of the number of vested Units held by such Participant times the Per Unit Payment with respect to such Milestone Trigger Event.
Thereafter, on each Vesting Date, such Participant shall be entitled to receive a payment equal to the product of the number of Units vesting on such Vesting Date times the Per Unit Payment in respect of such Milestone Trigger Event.