Surrender Obligation definition

Surrender Obligation means the obligation to surrender and transfer to the Partnership (i) Restricted Units upon a Forfeiture Event and (ii) Earned Units upon the exercise of a Call Option by the Partnership.
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Surrender Obligation means the quantity of verified reported emissions for which a covered entity must submit compliance instruments to ARB.
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Surrender Obligation is defined in Section 14.7 of the Lease.
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Examples of Surrender Obligation in a sentence

  • Any new certificate issued to evidence the ownership of Vested Units shall bear such legends as may be determined by the Board to reflect the terms and conditions of this Agreement (other than the Surrender Obligation) and the Partnership Agreement and to comply with applicable securities laws.

  • The Granted Units and unit assignment shall be held by the Secretary (or any other person designated by the Partnership as escrow agent) in escrow, pursuant to the Joint Escrow Instructions of the Partnership and Executive attached as Exhibit C hereto, until such time as the Surrender Obligation has lapsed with respect to the Granted Units.

  • Upon the lapse of the Surrender Obligation, Earned Units shall become Vested Units.

  • Once the Surrender Obligation has lapsed with respect to any Granted Unit, unless Class A Units are uncertificated, the Partnership shall issue and deliver to Executive a new certificate or certificates evidencing the ownership of the Vested Units.

  • Unless Class A Units are uncertificated, the Partnership shall issue Executive a certificate representing the Granted Units, and such certificate shall bear such legends as provided for in the Partnership Agreement and such additional legends as may be determined by the Board to reflect the Surrender Obligation, the Call Option, and the other terms and conditions of this Agreement and to comply with applicable securities laws.

  • The Building 1 Surrender Obligation will continue to be in full force and effect, notwithstanding the execution of this Second Amendment or the Building 2 Agreement, the performance or non-performance of the Building 2 Surrender Obligations, the payment of any sums by Lessee to Lessor, the surrender, or attempted surrender, of possession of the premises or Building 2 to Lessor by Lessee and/or a termination of the Lease or any Building 2 Agreement for any reason.

  • Without limiting the Executive’s rights under the Employment Letter to have Restricted Units become Earned Units, upon the lapse of the Surrender Obligation, Earned Units shall become Vested Units.

  • Once the Surrender Obligation has lapsed with respect to any Granted Unit, if the Class A Units are certificated, the Partnership shall issue and deliver to Executive a new certificate or certificates evidencing the ownership of the Vested Units.

  • The Class B Units are uncertificated; however, if the Partnership’s Class A Units ever become certificated, the Partnership shall issue Executive a certificate representing the Granted Units, and such certificate shall bear such legends as provided for in the Partnership Agreement and such additional legends as may be determined by the Board to reflect the Surrender Obligation, the Call Option, and the other terms and conditions of this Agreement and to comply with applicable securities laws.