Vested Incentive Units definition

Vested Incentive Units means any Incentive Units which have become ---------------------- vested on a monthly basis in accordance with the following schedule, if as of each such date Executive is employed by Xxxxxxx Xxxxx: Cumulative Percentage Date of Incentive Units Vested ---- ------------------------- Date of this Agreement 0% August 1, 1999 20% August 1, 2000 40% August 1, 2001 60% August 1, 2002 80% August 1, 2003 100% Notwithstanding the foregoing, upon the occurrence of a Sale of the Company, so long as Executive is employed by Xxxxxxx Xxxxx as of the date on which such Sale of the Company occurs, all Incentive Units which have not yet become vested shall immediately become vested; provided that a merger or consolidation -------- ---- involving Holdings in which the holders of voting securities of Holdings own more than 25% of the voting securities of the combined entity following such transaction shall not be considered a Sale of the Company for purposes of the immediately preceding clause.

Vested Incentive Units means any Incentive Units which have become ---------------------- vested on a monthly basis in accordance with the following schedule, if as of each such date Executive is employed by Alliance: Cumulative Percentage Date of Incentive Units Vested ---- -------------------------- Date of this Agreement 0% May 5, 1999 20% May 5, 2000 40% May 5, 2001 60% May 5, 2002 80% May 5, 2003 100%; provided, that upon the occurrence of a Sale of the Company, so long as -------- Executive is employed by Alliance as of the date on which such Sale of the Company occurs, all Incentive Units which have not yet become vested shall immediately become vested.

Vested Incentive Units means, with respect to an Executive’s Incentive Units, the number of such Incentive Units that are vested and nonforfeitable, as determined in accordance with Schedules X-0, X-0 and A-3 attached hereto.

Examples of Vested Incentive Units in a sentence

• Holdings may elect to purchase all or any portion of the Unvested Incentive Units without or before purchasing any Vested Incentive Units.

• The total number of Unvested Incentive Units and the total number of Vested Incentive Units to be repurchased hereunder will be allocated between Employee and the other holders of Incentive Units (if any) pro rata according to the number of Incentive Units to be purchased from each of them.

• The Repurchase Notice will set forth the number of Unvested Incentive Units and the number of Vested Incentive Units to be acquired from each holder, the aggregate consideration to be paid for such Units and the time and place for the closing of the transaction.

• The limited liability company interests of Merger Sub issued and outstanding immediately prior to the Effective Time shall be converted into and exchanged for validly issued Common Units and Incentive Units of the Surviving Company with the same economics as the Common Units and Vested Incentive Units outstanding immediately prior to the Effective Time (other than the Blocker Company Units owned by Blocker).

• The Company may elect to purchase all or any portion of the Unvested Incentive Units without or before purchasing any Vested Incentive Units.

More Definitions of Vested Incentive Units

Vested Incentive Units means the number of such Incentive Units that are vested and nonforfeitable, as determined in accordance with Schedule A attached hereto. Appendix B

Vested Incentive Units means, with respect to Participant’s Incentive Units, the number of such Incentive Units that are vested as determined in accordance with Schedule A.

Vested Incentive Units means Class B Common Units that have vested pursuant to the terms and conditions of the Incentive Unit Purchase Agreement or other document pursuant to which such Units were acquired by the holder thereof or any other document governing the vesting of such Units.

Vested Incentive Units means, (i) with respect to any Incentive Units that are subject to vesting pursuant to any Incentive Agreement, such Incentive Units that have vested in accordance with the terms of such Incentive Agreement and (ii) with respect to any other Incentive Units, all such Incentive Units; provided that, in connection with any Distribution pursuant to Section 10.2, an Incentive Unit which is or will be vested as of the date such Distribution is to be made shall not be considered a “Vested Incentive Unit” for the purposes of calculating the amount of the Distribution payable in respect of such Incentive Unit pursuant to Section 10.2 (i.e., shall be deemed to be not issued or outstanding) until such time as the aggregate Distributions paid and payable to Holders of Units since the date of issuance of such Incentive Unit exceeds the Participation Threshold of such Incentive Unit.

Vested Incentive Units means, with respect to any Incentive Units that are subject to vesting pursuant to any Equity Agreement, Incentive Units that have vested in accordance with the terms of such Equity Agreement and, with respect to any other Incentive Units, all such Incentive Units. For the avoidance of doubt, any Incentive Units constituting Summit Equity shall be deemed to be Vested Incentive Units for all purposes of this Agreement.

Vested Incentive Units means, with respect to any Incentive Units that are subject to vesting pursuant to any Equity Agreement, Incentive Units that have vested in accordance with the terms of such Equity Agreement and, with respect to any other Incentive Units, all such Incentive Units. For the avoidance of doubt, any Incentive Units constituting Lion Equity shall be deemed to be Vested Incentive Units for all purposes of this Agreement.

Vested Incentive Units means the Incentive Units that have become vested in accordance with their terms and the terms of the Incentive Unit Plan, or will be vested as a result of the Transactions.