Cancellation of Units. 15 (A) Subject to the provisions of clause 16 thereof, the Manager may have the exclusive right at any time by notice in writing delivered to the Trustee to effect reductions of the Trust by the surrender of Certificates to the Trustee for cancellation of some or all of the Units represented thereby or by requiring the Trustee to cancel some or all of the Units in existence but in respect of which no person is entered in the Register as the Holder thereof4 and/or in respect of which no Certificate is outstanding. Such notice shall state the number of Units to be cancelled and the amount payable to the Manager in respect thereof. Before giving notice to exercise such right it shall be the duty of the Manager to ensure that the Deposited Property includes or will include cash sufficient to pay the amount payable to the Manager upon such reduction and the Manager shall if necessary realize any Investments forming part of the Deposited Property to raise sufficient cash to meet heavy demands for redemption.
Cancellation of Units. (a) Any Unit underlying an unvested OCGH Unit shall be immediately cancelled without any consideration, and the applicable Limited Partner shall cease to own or have any rights with respect to such cancelled Unit, upon any forfeiture of the corresponding OCGH Unit.
Cancellation of Units. Unless the Trustee determines otherwise, all Units in the Trust will be cancelled and taken to be redeemed from the date of the final distribution under clause 20.5.
Cancellation of Units. (a) Any Unit underlying an unvested OCGH Unit shall be immediately cancelled without any consideration, and the applicable Limited Partner shall cease to own or have any rights with respect to such cancelled Unit, upon any forfeiture of the corresponding OCGH Unit. (b) Class P Common Units and Class P Preferred Units shall be cancelled or converted in accordance with Section 4.07(d). (c) Upon the cancellation or conversion of any Units in accordance with this Section 8.02, the General Partner shall modify the books and records of the Partnership to reflect such cancellation or conversion. SECTION 8.03
Cancellation of Units. The charges and amounts payable under this Plan are paid by cancelling Units to be allocated equal in value to the charges that are required to be paid under this Plan. Units will be cancelled from the Underlying Asset of Asset Choices you have selected in proportion to the total bid value of the Units allocated.
Cancellation of Units. 32 SECTION 8.03 Limited Partnership Transfers ................................................................32 SECTION 8.04 [Reserved] ..............................................................................................32 SECTION 8.05
Cancellation of Units. Subject to any exceptions set forth in this Agreement or in the Plan, any Units that remain unvested at the end of each applicable Performance Period shall revert to the Company and thereafter shall be available for grant under the Plan. Unless otherwise provided below, if Grantee’s employment with the Company or any of its Affiliates is Terminated prior to the Vesting Date for some or all of the Units, Grantee shall thereupon immediately forfeit any and all unearned or unvested Units, and the full ownership of such Units shall thereupon revert to the Company. Upon such forfeiture, Grantee shall have no further rights under this Agreement. For purposes of this Agreement, transfer of employment between the Company and any of its Affiliates (or between Affiliates) shall not constitute a Termination of Service. In the event of Grantee’s death or Disability, any unpaid but vested Units shall be paid to Grantee or Grantee’s guardian, estate or designated beneficiary, as applicable. Notwithstanding the foregoing, in the event of Grantee’s death or Disability prior to the Vesting Date, Grantee’s interest in the unvested Units granted hereunder shall vest only if the share price component of the Performance Criteria is satisfied, regardless of the length of Grantee’s employment with the Company or one of its Affiliates.
Cancellation of Units. Each Unit of HLBE (other than Units held by GFE or an affiliate of GFE) issued and outstanding immediately prior to the closing of the Merger shall be cancelled and converted into the right to receive $0.36405 per Unit, and each Unit of HLBE held by GFE issued and outstanding immediately prior to the Closing shall be cancelled and no consideration will be issued in respect thereof.
Cancellation of Units. The Company may, with the Participant’s written consent, cancel any Restricted Stock Units awarded to the Participant under this Award. In the event of such cancellation, all of the Participant’s rights as a former holder of such Restricted Stock Units with respect to such cancelled Restricted Stock Units shall terminate.
Cancellation of Units. The Class A Units may not be cancelled without the consent of a Majority in Interest of the Class A Members. The Class B Units may not be cancelled without the affirmative vote of a Majority in Interest of the Class B Members. The Class C Units may not be cancelled without the affirmative vote of a Majority in Interest of the Class C Members.
