Active Individual LP definition

Active Individual LP means each of the Individual Limited Partners that is an Executive Managing Director of the General Partner, prior to the Withdrawal or Special Withdrawal of such Individual Limited Partner or such Individual Limited Partner ceasing to be actively involved with the Partnership and its Affiliates due to death or Disability.
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Examples of Active Individual LP in a sentence

  • Any Active Individual LP may vote or consent on behalf of its Related Trust.

  • In any such case, the Och-Ziff Board shall either (A) appoint a new Chairman, who may be an existing member of the Partner Management Committee or any other Active Individual LP, or (B) determine that there shall be no Chairman of the Partner Management Committee.

  • Och shall continue to serve as Chairman of the Partner Performance Committee until the Transition Date or his earlier death or Disability, at which time (i) Mr. Och shall automatically cease to serve as Chairman and shall also cease to be a member of the Partner Performance Committee, and (ii) provided that he continues to be an Active Individual LP, ▇▇▇▇▇▇ ▇▇▇▇▇▇ (or his successor as Chief Executive Officer of Och-Ziff) shall succeed Mr. Och as Chairman of the Partner Performance Committee.

  • In any such case, the Och-Ziff Board shall either (A) appoint a new Chairman, who may be an existing member of the Partner Performance Committee or any other Active Individual LP, or (B) determine that there shall be no Chairman of the Partner Performance Committee.

  • In the event of the Limited Partner ceasing to be an Active Individual LP due to death or Disability, 100% of the unvested Incentive D Units as of such date shall continue to vest in accordance with the D Unit Vesting Schedule without any service requirements.

  • In addition, provided that the Limited Partner continues to be an Active Individual LP as of December 31, 2019, if the General Partner does not make a Company Extension Offer (as defined below) to extend the Term beyond December 31, 2019, then the 2013 RSUs shall be treated in accordance with the terms of the ▇▇▇▇ ▇▇▇ Award Agreements applicable to the non-extension of the Term.

  • Upon the Limited Partner ceasing to be an Active Individual LP for any reason (other than death), the Limited Partner hereby agrees to immediately resign from all positions (including, without limitation, any management, officer or director position) that the Limited Partner holds in the Och-Ziff Group (or with any entity in which the Och-Ziff Group has made any investment) as of the date of such termination.

  • In order to be eligible for any portion of the Performance Award Amount in respect of any Fiscal Year, the Limited Partner shall not have ceased to be an Active Individual LP, in each case as of the applicable distribution date and must not have provided notice of the Limited Partner’s intention to become subject to a Withdrawal pursuant to clause (C) (Resignation) of Section 8.3(a)(i) of the Limited Partnership Agreement (a “Withdrawal due to Resignation”) on or before such date.

  • The Sign-On RSUs will vest in four equal annual installments on each of the first four anniversaries of the Effective Date; provided, that the Limited Partner must be an Active Individual LP on such vesting date (and must not have provided notice of his intention to become subject to a Withdrawal due to Resignation on or before such date), except as otherwise provided in Section 2(d)(iii), Section 3(b)(ii)(1), Section 3(b)(iv), Section 3(c)(ii) and Section 3(d)(ii)(1).

  • In order to be eligible to receive any portion of the Variable Distribution in respect of: (x) Fiscal Year 2016, the Limited Partner shall not have been subject to a Withdrawal pursuant to clause (A) (Cause) or clause (C) (resignation) of Section 8.3(a)(i) of the Limited Partnership Agreement as of December 31, 2016, and (y) Fiscal Year 2017, the Limited Partner shall not have ceased to be an Active Individual LP as of December 31, 2017.

Related to Active Individual LP

  • Key Individual means any individual ultimately responsible for establishing or directing policies and procedures of the licensee, such as an executive officer, manager, director, or trustee.

  • Qualifying Individual means an individual aged 18 years or over who is deemed to be resident in the UK for tax purposes. This includes a non-resident who performs duties which by virtue of Section 28 of the Income Tax (Earnings & Pensions) Act 2003 are treated as being performed in the UK (Crown employees serving overseas) or is married to, or is in a civil partnership with a person who performs such duties.

  • Key Individuals means the Service Provider Representatives identified as being key individuals for the provision of the Services as set out in Schedule 5.5.

  • Covered individual means a person or entity who is a member of any of the following classes:

  • Self-Employed Individual means an individual who has Earned Income for the taxable year from the unincorporated trade, or business or partnership with respect to which the Plan is established; also, an individual who would have had Earned Income but for the fact such trade, business or partnership had no net profits for the taxable year.