Profits Unit definition

Profits Unit means a unit representing a Profits Interest issued by the Company.

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Profits Unit has the meaning set forth in Section 4.3(a)(iii) of this Agreement.

Profits Unit has the meaning given in the Profits Unit Plan.

Examples of Profits Unit in a sentence

Each Company Profits Unit represents the right to a pro rata share of any distributions received by the Company in respect of the corresponding TJ Chemical Profits Units held by the Company in accordance with the Management LLC Agreement.
Any determination relating to the value of the assets of TJ Chemical or any TJ Chemical Profits Unit shall be determined in good faith by the Board of Directors of TJ Chemical in accordance with the TJ Chemical LLC Agreement and all determinations of the Board of Directors shall be final and binding on all parties.
The Participant shall be a Member and holder of Profits Unit for all purposes under the Management LLC Agreement.
Each TJ Chemical Profits Unit represents the right to receive a pro rata portion of the appreciation of the assets of TJ Chemical above the Threshold Amount (as defined in the TJ Chemical LLC Agreement) for such TJ Chemical Profits Unit after the Date of Grant.
By virtue of ownership of a Company Profits Unit, the Participant shall have no right or obligation to make any Capital Contribution to the Company at any time and shall have no rights to any capital contributed to the Company.
Each Company Profits Unit is intended to be a “profits interest” within the meaning of Rev.
For purposes of making allocations of Profit or Loss or items thereof (as those terms are defined in the Partnership Agreement) pursuant to Section 5.1(a) of the Partnership Agreement each OP Profits Unit, regardless of whether vested or unvested, shall be treated as a Partnership Unit.
For the avoidance of doubt, this Section 4.3 shall not alter the Profits Unit Holder’s right to Tax Distributions under Section 4.2. Notwithstanding the other provisions of this Agreement, such Tax Distributions shall be calculated and made by the Partnership by treating all Unvested Class B2 Units as if they were “substantially vested” within the meaning of Treas.
After the Full Participation Date, but no later than January 10, 2028, the Partnership shall make a special distribution to the Participant in accordance with the terms of the Partnership Agreement equal to the balance in the Deferred Distribution Account relating to each Vested OP Profits Unit.
For the purposes of this Section 7.03 and Section 13.02(b), each Profits Unit shall not be counted for the purposes of calculating the Member’s respective Percentage Interests until the applicable Distribution Threshold attributable to such Profits Unit is met.

More Definitions of Profits Unit

Profits Unit means a Class A Profits Unit (as defined in the Company LLCA) in the Company, a Class B Profits Units (as defined in the Company LLCA) in the Company or any other class of unit in the Company designated as a “profits interest” and granted hereunder subject to the terms of this Plan.

Profits Unit means each Unit designated as such upon issuance and having the rights, preferences, duties, and obligations set forth herein and as more fully described in Section 7.06.

Profits Unit means a Partnership Interest issued to a Participant under the Plan as more particularly described in the Award Agreement and Section 8.4(c) hereof. Each Profits Unit shall be convertible into a Unit of Partnership Interest under the terms and conditions set forth in a related Profits Units Designation.

Profits Unit means, as required by context, a Profits Unit of the Partnership (as defined in the Partnership Agreement) granted hereunder and/or a Profits Unit of Management LLC (as defined in the Management LLC Agreement) that relates to such Profits Unit of the Partnership, in each case subject to the terms of this Agreement and the Equity Incentive Plan and in each case, if applicable, any securities which may be issued after the Effective Date in respect of, or in exchange for, a Profits Unit (which are sometimes referred to herein as “successor equity interests”).

Profits Unit means, as required by context, a Profits Unit of the Company (as defined in the Company Operating Agreement) granted hereunder and/or a corresponding partnership profits interest in Management LLC that relates to such Profits Unit of the Company, in each case subject to the terms of the Plan and in each case, if applicable, any securities which may be issued after the Effective Date in respect of, or in exchange for, a Profits Unit (which are sometimes referred to herein as “successor equity interests”).