Profit Unit definition

Profit Unit means a unit representing a limited liability company interest in Employeeco or the Company which is treated as a “profit interest” within the meaning of Internal Revenue Service Revenue Procedure 93-27, 1993-2 C.B. 343 and in accordance with Internal Revenue Service Revenue Procedure 2001-43, 2001-2 C.B. 191.
Sample 1

Examples of Profit Unit in a sentence

  • Employee acknowledges and agrees that, for purposes of interpreting any Profit Unit Grant Agreement between Employee and the Parent following the Effective Date, the terms “Cause,” “Disability,” and “Good Reason” shall have the meanings ascribed thereto in Sections 1(e), 1(m), and 1(p) of this Agreement.

  • Notwithstanding the foregoing, the Discretionary Achievement Percentage Level for any Plan Year shall not exceed the greater of 100% or the Company Achievement Percentage Level or the greater of 100% or the Profit Unit Achievement Percentage Level (in the case of the Racetrack Profit Centers) for that Plan Year.

  • It is the intention of the parties to this Agreement that distributions to any holder of a Profit Unit shall be limited to the extent necessary so that each Profit Unit constitutes a Profits Interest.

  • In the event the Majority Member Transfers (or causes to be Transferred in connection with a Drag-Along Transfer) to a third party that is not an Affiliate of any Member, in a transaction or series of related transactions, a number of Membership Units equal to a Percentage Interest of at least eighty percent (80%), then one hundred percent (100%) of the Profit Units held by any Profit Unit Member shall vest immediately prior to such Transfer, without any further action taken by any party.

  • In furtherance of the foregoing, and notwithstanding anything to the contrary in this Agreement, the Board shall, if necessary, limit distributions to any holder of a Profit Unit so that such distributions do not exceed the available profits in respect of such holder’s Profit Unit.

  • Status of Profit (Unit : %) Name of company2011201220132014AverageGrupo ACS8.087.897.846.987.70Vinci9.929.549.2411.069.94Fluor corp2.581.672.453.302.50Technip10.139.918.957.029.00Hyundai6.205.755.716.376.01Samsung1.641.961.512.291.85Daelim5.344.620.45-2.981.86GS4.761.84-9.770.05-0.78Samsung eng.6.716.50-10.221.601.15Average6.155.521.803.974.36 Table 2에서 알 수 있듯이 해외공사 평균 유보금의 한도가 6.3%인데 Table 4에서 보여주고 있듯이 글로벌 건설업체들의 2011년부터 2014년까지 4년 평균 영업이익율은 4.4%이다.

  • This is equivalent to a vacancy level of 2.3%, and is significantly below the national average of 11.2%.

  • Management Discussion and Analysis Gross Profit Unit: RMB thousand The Group’s gross profit decreased mainly due to a decrease in the gross profit from WTG manufacturing YoY.

  • Upon the termination of a Profit Unit Member’s employment for any reason other than by the Company for Cause, the Profit Unit Member shall forfeit all unvested Profit Units without the receipt of any payment or consideration in respect thereof as of the Profit Unit Member’s Services Termination Date, and any Profit Units that are vested as of such termination of employment or become vested as a result of such termination of employment will remain outstanding, subject to the Call Right.

  • Pursuant to the terms of the Station Holdco Amended and Restated Profit Unit Plan, an aggregate of 1,832,891 restricted shares of Class A Common Stock will be substituted for the outstanding Station Holdco profit units.

Related to Profit Unit

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

  • Common Unit Economic Balance has the meaning set forth in Section 5.01(g) hereof.

  • Budget unit means the unit for which the ANB of a district is calculated separately pursuant to 20-9-311.

  • target unit means a facility or group of facilities to which an underlying agreement applies; “tCO2 equivalent” means tonnes of carbon dioxide equivalent;

  • Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.

  • LTIP Unit means a Limited Partnership Interest which is designated as an LTIP Unit and which has the rights, preferences and other privileges designated in Section 4.4 hereof and elsewhere in this Agreement in respect of holders of LTIP Units. The allocation of LTIP Units among the Partners shall be set forth on Exhibit A, as may be amended from time to time.

  • Moderate-income unit means a restricted unit that is affordable to a moderate-income household.

  • Common profits means the balance of all income, rents, profits and revenues from the common areas and facilities remaining after the deduction of the common expenses;

  • Incentive Distribution Right means a non-voting Limited Partner Interest issued to the General Partner, which Partnership Interest will confer upon the holder thereof only the rights and obligations specifically provided in this Agreement with respect to Incentive Distribution Rights (and no other rights otherwise available to or other obligations of a holder of a Partnership Interest). Notwithstanding anything in this Agreement to the contrary, the holder of an Incentive Distribution Right shall not be entitled to vote such Incentive Distribution Right on any Partnership matter except as may otherwise be required by law.

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.

  • Unit Value means, at any time, the value of each Stock Unit, which value shall be equal to the Fair Market Value (as defined in the Plan) of a Share on such date.

  • Partnership Unit means, with respect to any class of Partnership Interest, a fractional, undivided share of such class of Partnership Interest issued pursuant to Sections 4.1 and 4.3 (including Performance Units). The ownership of Partnership Units may be evidenced by a certificate for units substantially in the form of Exhibit D-1 or D-2 hereto or as the General Partner may determine with respect to any class of Partnership Units issued from time to time under Sections 4.1 and 4.3.

  • Business Unit means the assets constituting the business or a division or operating unit thereof of any Person.

  • Net Profits Interest means an interest in a Producing Property which entitles the holder thereof to a share of the gross revenues from oil and gas production from the Producing Property less all operating, production, development, transportation, transmission and marketing expenses, severance, sales, ad valorem and excise taxes (including the windfall profit tax) attributable to such production.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Unit and “Quality” means the unit and quantity specified in the schedule.

  • Incentive Distribution Rights has the meaning assigned to such term in the Partnership Agreement.

  • Heat unit means a unit of energy equal to the product of the peak kilovoltage, milliamperes, and seconds, i.e., kVp x mA x second.

  • Net Economic Return shall have the meaning ascribed to such term in paragraph 2 of Exhibit E to the Lease.

  • Class A Unit means a Unit representing a fractional part of the equity interest in the Company having the rights and obligations specified with respect to the Class A Units in this Agreement.

  • Economic Value – means the value of the Company and of its shares, to be determined by a specialized company by using a recognized methodology or based on another criterion to be defined by the CVM.

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • Target Capital Account means the Capital Account of a Member as of the end of each fiscal year, increased by any amount that such Member is obligated to restore under this Agreement, is treated as obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), or is deemed obligated to restore under the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and (i)(5).

  • Academic Unit means one of the listed Departments or Schools of Acadia University.

  • Unit Share has the meaning ascribed thereto in the first paragraph of this Agreement;

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.