Profits Interest Unit

Profits Interest Unit. To the extent authorized by the Partnership Agreement (as either a "Profits Interest Unit" or an "LTIP Unit"), a unit of the Partnership that is granted pursuant to Section 12(c) and is intended to constitute a "profits interest" within the meaning of the Code.

Profits Interest Unit. Means to the extent authorized by the Partnership Agreement, an interest in the Partnership that is intended to constitute a "profits interest" within the meaning of the Code, Department of Treasury Regulations promulgated thereunder and any published guidance by the Internal Revenue Service with respect thereto.

Profits Interest Unit. A non-managing, non-voting ownership interest in the Company issued pursuant to Section 3.01(b) of the LLC Agreement. The Profits Interest Units granted pursuant to this Plan are intended to qualify as profits interests within the meaning of Revenue Procedure 93-27 as clarified by Revenue Procedure 2001-43