Profits Units definition

Profits Units means the profits units issued by Laredo Petroleum, LLC.

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Profits Units has the meaning set forth in Section 2(a) of this Agreement, which have the rights and obligations specified with respect to Profits Units in the Company Agreement.

Profits Units means any Profits Interests issued by the Company or such other Units issued by the Company and designated as “Profits Units.”

Examples of Profits Units in a sentence

• Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Participant and the Participant's beneficiaries, executors, administrators and the person(s) to whom the OP Profits Units may be transferred by will or the laws of descent or distribution.

• The OP Profits Units are issued both as equity securities of the Partnership and granted as an award under the Plan.

• Any attempt to exchange, assign, alienate, pledge, attach, sell or otherwise transfer or encumber the OP Profits Units shall be wholly ineffective and, if any such attempt is made, such OP Profits Units will be forfeited by the Participant and all of the Participant's rights to such interests shall immediately terminate without any payment or consideration by the Partnership or the Company.

• The grant of the OP Profits Units in this Agreement does not create any contractual right or other right to receive any OP Profits Units or other Awards in the future.

• This Award of the OP Profits Units is made in consideration of the services to be rendered by the Participant to the Company or its Subsidiaries.

More Definitions of Profits Units

Profits Units means the limited liability interests in the Company designated as “Profits Units” and having the rights, preferences and privileges set forth in, and subject to, this Agreement and in the associated Profits Unit Award Agreement.

Profits Units means either Service or Exit Units, as described in Section 3.2(b).

Profits Units means Series B Units, Series C Units, Series D Units, Series E Units, Series F Units, Series G Units and BOE Incentive Units.

Profits Units. The Preferred Units shall initially be divided into three series of units referred to as “Series A-1 Preferred Units,” “Series A-2 Preferred Units” and “BOE Preferred Units”. The Profits Units shall initially be divided into seven series of units referred to as “Series B Units,” “Series C Units,” “Series D Units,” “Series E Units,” “Series F Units,” “Series G Units” and “BOE Incentive Units.” The Company is authorized to issue up to 60,000,000 units designated as “Series A-1 Preferred Units,” 48,000,000 units designated as “Series A-2 Preferred Units”, 88,986,330 units designated as “BOE Preferred Units”, 16,923,077 units designated as “Series B Units,” 8,791,209 units designated as “Series C Units,” 13,538,462 units designated as “Series D Units,” 7,032,967 units designated as “Series E Units”, 5,538,542 units designated as “Series F Units,” units designated as “Series G Units” in a number hereinafter set by the Board and units designated as “BOE Incentive Units” in a number hereinafter set by the Board. The Series A-2 Preferred Units shall have a Designated Value of $1.25; provided, however, that such Units shall not constitute “profits interests” as described in Sections 3.2(d), (e), (f) and (g).

Profits Units means a Profit Unit of the Company.

Profits Units means the Profits Units (as defined in the Partnership Agreement) subject to the terms of the Plan and, if applicable, any securities which may be issued after the Effective Date in respect of, or in exchange for, the Profits Units (which are sometimes referred to herein as “successor equity interests”).

Profits Units means the Series [ ] Profits Units created by this Designation.