Profit Unit Member definition

Profit Unit Member means each Person who holds Profit Units, and any other Person admitted as an additional or substitute Profit Unit Member in accordance with the terms hereof and who holds Profit Units, for so long as such Person holds Profit Units. If a Profit Unit Member holds different classes of Membership Units, then such Profit Unit Member shall be treated as a Profit Unit Member only with respect to its Profit Units.

Examples of Profit Unit Member in a sentence

  • 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.

  • As of the date hereof, the Company shall issue the number of Profit Units set forth opposite each Person whose name is set out name on Schedule B and hereby admits each such Person as a Profit Unit Member hereunder.

  • In the event that a Profit Unit Member’s Services are terminated by the Company for Cause, all Profit Units, regardless of whether vested or unvested, held by such Profit Unit Member as of such Profit Unit Member’s Services Termination Date shall be forfeited and cancelled for no consideration as of such Services Termination Date.

  • 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.

  • Improved infrastructure initiatives will include transport, communications, energy and water and sanitation.

  • The Company’s call right shall be deemed exercised as of the date on which the Company delivers such Call Notice to such Profit Unit Member.

  • No Profit Unit Member shall have any right to receive, review or copy Exhibit A to this Agreement or any books, records or other information of the Company to the extent such restriction is permitted by the TBOC.

  • Unless otherwise provided in the employment agreement of the applicable Employeeco Member with Station Casinos or its Affiliates, if an Adjustment Event occurs with respect to any Employeeco Member (the “Affected Member”), then the Profit Units attributable to such Employeeco Member shall be forfeited by the Participant and the Percentage Interest of the Profit Unit Member shall be appropriately reduced (effective as of the date such Adjustment Event occurred).

  • Twenty-five percent (25%) of each of the Class A Profit Units, Class B Profit Units and Class C Profit Units held by a Profit Unit Member will vest on each of the first four anniversaries following the applicable Grant Date (each such date, a “Vesting Date”), subject in all cases to the Profit Unit Member’s continued Services through the applicable Vesting Date.

Related to Profit Unit Member

  • Unit Member refers to any employee who is included in the certificated employees' bargaining unit and, therefore, covered by the terms and provisions of this Agreement.

  • Bargaining Unit Member or “employee” means a University employee who is included in the bargaining unit as defined in Article 2: “Recognition and Scope”.

  • Management Member means any Member that is an employee of the Company or any of its Subsidiaries.

  • Partner Group means any legal entity that has direct or indirect Control over the Partner and only as long as that legal entity maintains direct or indirect Control (“Parent Companies”) as well as all Associated Companies of the Parent Companies.

  • Independent Member of the board means a member of the board who has no business, family or other relationship that raises a conflict of interests regarding the CCP concerned or its controlling shareholders, its management or its clearing members, and who has had no such relationship during the five years preceding his membership of the board;

  • Student Member means the member of ICCB who has been selected by ICCB's Student Advisory Committee. The student member has all the privileges of membership defined in Section 2-3 of the Act.

  • Management Members shall have the meaning set forth in the introductory paragraph of this Agreement.

  • Deferred member means a person who elected to receive deferred vested retirement

  • Unit Holder means the owner of one or more Units.

  • LTIP Unitholder means a Partner that holds LTIP Units.

  • Service member means a member of the armed forces, a reserve branch of the armed forces, or the Michigan national guard.

  • Unitholder means a person holding units in the scheme of the Mutual Fund.

  • Class A Member means a Member holding one or more Class A Ordinary Shares.

  • Class B Member means a Member holding one or more Class B Ordinary Shares.

  • Common Unitholder means a Member who is the registered holder of Common Units.

  • Membership service means service rendered subsequent to the

  • Founder Member means a subscriber to these rules for the purposes of registration;

  • Team Member means an individual who is allowed to access the Cloud Service but is only granted membership in groups associated with “Team Member” permissions for the Cloud Service.2

  • ☐ - MULTI-MEMBER The “Capital Account” for each Member shall mean the account created and maintained for the Member in accordance with Section 704(b) of the Internal Revenue Code and Treasury Regulation Section 1.704-1(b)(2)(iv).

  • Covered service member means a member of the Armed Forces, including a member of the National Guard or Reserves, who is undergoing medical treatment, recuperation, or therapy, is otherwise in outpatient status, or is otherwise on the temporary disability retired list, for a serious injury or illness.

  • 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.

  • Plan Member means each Member any of the assets of which are subject to any Plan Governing Law.

  • Membership Units has the meaning set forth in the Recitals.

  • Executive Member means any elected member of the authority appointed to the executive of that authority;

  • Partner Level means the program levels as described in detail in the applicable PartnerEdge Program Guide.

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