Vested DRUs definition

Vested DRUs means those DRUs which have become vested pursuant to Section 3 or otherwise pursuant to the Plan.
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Vested DRUs means those DRUs which have become vested (x) determined by multiplying the Target DRU Award by the Performance Multiplier for the Performance Period pursuant to Exhibit A or (y) otherwise pursuant to the Plan. For the avoidance of doubt, the Vested DRUs may be a number lesser than or greater than the Target DRU Award.
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Examples of Vested DRUs in a sentence

  • Additionally, the Participant authorizes the Partnership and/or the Employer to satisfy the obligations with regard to all Tax-Related Items by withholding from proceeds of the sale of Common Units acquired upon settlement of the Vested DRUs either through a voluntary sale or through a mandatory sale arranged by the Partnership (on the Participant’s behalf pursuant to this authorization).

  • Upon the occurrence of a Qualifying Event, the Partnership shall, within 30 days following the date of such event, deliver (or cause delivery of) Common Units to the Participant in respect of 100% of the DRUs which vest and become Vested DRUs on such date.

  • Except as otherwise set forth in Section 4(b) or 4(d), in the event the Participant’s Services with the Partnership and its Affiliates are terminated for any reason, the Partnership shall within 30 days following the date of such termination, deliver (or cause delivery of) Common Units to the Participant in respect of any then outstanding Vested DRUs.

  • The Partnership shall, on or within 30 days following a Vesting Date, deliver (or cause delivery to be made) to the Participant the Common Units underlying the DRUs that vest and become Vested DRUs on such Vesting Date.

  • In the event the Participant’s Services with the Partnership and its Affiliates are terminated by the Participant without Good Reason, the Partnership shall within 30 days following the date of such termination, deliver (or cause delivery of) Common Units to the Participant in respect of any then outstanding Vested DRUs.

  • Subject to the Participant’s continued Services with the Partnership and its Affiliates through each respective Vesting Date, on such Vesting Date, a number of DRUs subject to the Target DRU Award (which number may be lesser than or greater than the Target DRU Award) shall vest and become Vested DRUs based on the attainment of the performance metrics and the applicable Performance Multiplier set forth on Exhibit A.

  • In the event that a Change in Control occurs after the completion of the Performance Period but prior to the Vesting Date, the Vesting Date shall be deemed to have occurred upon the date of such Change in Control and the Participant shall be entitled to receive the number of Vested DRUs, if any, determined based on the actual Performance Multiplier for the Performance Period, in accordance with Section 3(a) hereof.

  • Subject to the Participant’s continued Services with the Partnership and its Affiliates through the Vesting Date, a number of DRUs subject to the Target DRU Award (which number may be lesser than or greater than the Target DRU Award) shall vest and become Vested DRUs based on the attainment of the performance measures and the Performance Multiplier set forth on Exhibit A.

  • Any DRUs that do not become Vested DRUs automatically will terminate and be cancelled, without the payment of any consideration, on the date the Employee’s employment with the Company and its Affiliates terminates.

  • The Partnership shall, as soon as practicable following each Vesting Date, but in each case, prior to the first Common Unit distribution record date following a Vesting Date, deliver (or cause delivery to be made) to the Participant the Common Units underlying the Vested DRUs that vest and become Vested DRUs on such Vesting Date.

Related to Vested DRUs

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Unvested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Vested Portion means, at any time, the portion of an Option which has become vested, as described in Section 3 of this Agreement.

  • Covered drug means any prescription drug that:

  • Nonforfeitable means a Participant's or Beneficiary's unconditional claim, legally enforceable against the Plan, to the Participant's Accrued Benefit.

  • Vesting Event means the earliest to occur of the following events:

  • Vesting Date has the meaning set forth in Section 3.10(c)(ii).

  • Vested Shares means "Vested Shares" as defined in the Award Agreement.

  • Vested Company Option means each Company Option outstanding as of immediately prior to the Effective Time that is vested as of such time or will vest in connection with the consummation of the transactions contemplated hereby (whether at the Effective Time or otherwise).

  • Unvested Units means those Units listed as unvested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Vested Units means those Units listed as vested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Partial Entitlement Share(s) shall have the respective meanings set forth in Section 2.12.

  • Foreign Benefit Event means, with respect to any Foreign Pension Plan, (a) the existence of unfunded liabilities in excess of the amount permitted under any applicable Law or in excess of the amount that would be permitted absent a waiver from applicable Governmental Authority or (b) the failure to make the required contributions or payments, under any applicable Law, on or before the due date for such contributions or payments.

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

  • Company Restricted Share means each restricted share of Company Common Stock outstanding as of the Effective Time granted pursuant to any equity or compensation plan or arrangement of the Company.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • controlled drug means an article or substance prescribed under a regulation to be a controlled drug.

  • Top Heavy Plan Year means a Plan Year during which the Plan is a Top Heavy Plan.

  • Vesting Dates means, as determined by the Board or by the Committee, the date as of which the Optionee shall be entitled to exercise the Options or part of the Options, as set forth in section 11 of the ISOP.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Vesting Period means the period of time specified by the Committee during which vesting restrictions for an Award are applicable.

  • Initial Vesting Date means the date occurring one (1) year after the Date of Option Grant.

  • Unvested Company Option means any Company Option that is not a Vested Company Option.

  • Deferred Share Unit or “DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7;

  • Vesting Commencement Date means the Grant Date or such other date selected by the Committee as the date from which an Award begins to vest.