Profit Units definition

Profit Units means profits interests or units issued pursuant to the terms of the Company LLC Agreement.

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Profit Units means those Class B Units and Class C Units as granted to participants under the HVM Incentive Plan and ESH Manager Plan.

Profit Units means the Class P Incentive Units of Skyline, as defined in the Skyline Operating Agreement.

Examples of Profit Units in a sentence

Notwithstanding any provision of this Agreement to the contrary, each Member shall, as a condition subsequent to the receipt of any Profit Units (or other Units subject to a substantial risk of forfeiture), execute and deliver a valid and timely election under Section 83(b) of the Code to both the IRS and the Company within thirty (30) days of the date of receipt of such Units.
Any such Profit Units transferred to HC2 will be transferred against payment therefor by HC2 of the consideration to which each Participating Member is entitled by reason of its participation in such sale.
All loans made to Partners pursuant to this Section 5.05 shall (i) be secured by a first priority security interest in such Partner’s Capital Account and (ii) while the loan is outstanding, reduce the amount of such Partner’s Profit Units (for purposes of Net Income allocations or distributions) in proportion to the amount of such Partner’s Capital Account that was borrowed against.
The Management Agreement provides for the issuance and terms of Profit Units in order to provide equity incentive compensation to selected Directors, executives and other service providers (including the EIK Manager) of the Company and its Affiliates, with such terms, conditions, rights and obligations, including vesting, forfeiture and repurchase, as provided in the Incentive Plan and applicable Profit Unit Agreement.
Each of DP and CEP shall have a right to Transfer his or her Profit Units in such HC2 Transfer (a “Tag-Along Right”) as set forth in this Section 9.4 and on the terms and conditions specified in the Proposed Transfer Notice, which shall be at least as favorable to DP and CEP as the terms and conditions applicable to HC2 with respect to its Profits Units.

More Definitions of Profit Units

Profit Units means for each Limited Partner, the Profit Units indicated in the books and records of the Partnership and/or in such Partner’s Supplementary Agreement.

Profit Units means, with respect to each Member, the Profit Units held by such Member as set forth opposite such Member’s name under the heading “Profit Units” on Schedule A attached hereto.

Profit Units means the Class A Profit Units, the Class B Profit Units and the Class C Profit Units. “Profit Unit Exchange” has the meaning set forth in Section 6.03(c). “Profit Unit Member” means each Person who holds Profit Units, and any other Person admitted as an additional or substitute Profit Unit

Profit Units means the Class A Profit Units, the Class B Profit Units and the Class C Profit Units. “Profit Unit Exchange” has the meaning set forth in Section 6.03(c).

Profit Units shall have the meaning specified in each applicable Governing Agreement.

Profit Units has the meaning given in Section 5.1.

Profit Units has the meaning set forth in Section 4.2(a).