Adjustments to Units. As of any date (an "Adjustment Date") on which, in accordance with the foregoing, Capital Contributions are made by the Partners other than in accordance with their Unit Percentages, the Units of all Partners shall automatically (and without any further action by the Partners) be adjusted so that the number of Units held by each Partner shall be equal to 100 multiplied by a fraction, the numerator of which shall be the aggregate amount of Capital Contributions made by such Partner as of the Adjustment Date, and the denominator of which shall be the aggregate amount of Capital Contributions made by all Partners as of the Adjustment Date; it being understood that the total number of Units held by all Partners shall always equal 100. As of the date of each Adjustment Date, the Unit Percentage of each Partner shall also be adjusted based upon the adjusted number of Units held by each Partner. Promptly after each Adjustment Date, the General Partner shall amend Schedule A hereto to reflect the automatic adjustment of the number of Units and Unit Percentages as of each Adjustment Date (such adjustment shall nevertheless be effective as of the Adjustment Date regardless when Schedule A hereto is amended).
Adjustments to Units. If the Board at any time elects to subdivide (by any Unit split or otherwise) any particular class of Units into a greater number of Units of such class, then the Company will subdivide each Unit of such class outstanding immediately prior to such subdivision based upon the same ratio, and if the Board at any time elects to combine (by reverse Unit split or otherwise) any particular class of Units into a smaller number of Units of such class, then the Company will combine each Unit of such class outstanding immediately prior to such combination based upon the same ratio. For the avoidance of doubt, under no circumstances may the Company combine different classes of Units pursuant to this Section 3.13.
Adjustments to Units. If the Company at any time subdivides (by any Unit split or otherwise) any class or type of Units into a greater number of Units, the Company shall also subdivide each Unit of such other class or type outstanding immediately prior to such subdivision based upon the same ratio, and if the Company at any time combines (by reverse Unit split or otherwise) any class or type of Units into a smaller number of Units, the Company shall also combine each Unit of such other class or type outstanding immediately prior to such combination based upon the same ratio.
Adjustments to Units. If at any time or from time to time after the date of this Agreement, the Class C Units issuable upon the conversion of the Class R Units are changed into the same or a different number of units of any class or classes of units, whether by recapitalization, reclassification, merger, consolidation or otherwise, then following such recapitalization, reclassification, merger, consolidation or other change, each Class R Unit shall thereafter be convertible in lieu of the Class C Units into which it was convertible prior to such event into the kind and amount of securities, cash or other property which a holder of the units of that number of Class C Units issuable upon conversion of such Class R Units immediately prior to such recapitalization, reclassification, merger, consolidation or other change would have been entitled to receive pursuant to such event, subject to further adjustment as provided herein or with respect to such other securities or property by the terms thereof. In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 5, with respect to the rights of the holders of Class R Units after the capital reorganization to the end that the provisions of this Section 5 (including the number of Class C Units issuable upon conversion of the Class R Units) shall be applicable after that event and be as nearly equivalent as practicable.
Adjustments to Units. If, from time to time during the term of the Repurchase Option, there is any change affecting the Company’s outstanding Common Units as a class that is effected without the receipt of consideration by the Company (through merger, consolidation, reorganization, reincorporation, dividends or distributions in the form of Units, Units split, combination of Units, change in Company structure or other transaction not involving the receipt of consideration by the Company), then any and all new, substituted or additional securities or other property to which Purchaser is entitled by reason of Purchaser’s ownership of the Units shall be immediately subject to the Repurchase Option and be included in the word “Units” for all purposes of the Repurchase Option with the same force and effect as the Units presently subject to the Repurchase Option, but only to the extent the Units are, at the time, covered by such Repurchase Option. While the total Repurchase Option Price shall remain the same after each such event, the Repurchase Option Price per Unit upon exercise of the Repurchase Option shall be appropriately adjusted as determined by the Company.
Adjustments to Units. In the event that the Fractionation Plant does not demonstrate the capacity to fractionate 48 million bushels of corn, Ethanex shall give back to Xxxxxxxxxx, to be returned to treasury Units, a number of Class A Units equal to the quotient of (i) an amount equal to the product of (a) the actual capacity to fractionate corn subtracted from 48 million number of bushels of corn actually produced multiplied by 2.58 (b) multiplied by $2.00, divided by (ii) the value per Class A Unit as determined by the calculation set forth in “Capitalization.”
Adjustments to Units. Subject to the allocation requirements below in this Section, if an arbitrator pursuant to a proceeding under this Agreement, all of the Partners or a court by final judgment determines that the Units initially received by any Partner do not adequately reflect the fair market value as of the effective date of the capital contributions made or deemed made by the Partner, reduced as necessary by any liabilities which are assumed by the Partnership, then the Partner’s Units shall be adjusted to reflect that fair market value. All circumstances shall be given equitable effect in making any such adjustments, including consideration of factors such as income taxes paid and the time value of money, and retroactive adjustments of Capital Accounts shall be made if necessary. If prior to any adjustments a Partner has received any distributions from the Partnership which are excessive given the adjustments which are required by this Section, the Partner immediately shall pay cash to the Partnership in the amount of the excess; provided that if the Partner fails or refuses to pay within 30 days after receiving written notice from the Partnership of the obligation to pay, any future distributions payable to the Partner by the Partnership shall be withheld until the equitable results required by this Section are achieved. Likewise, if prior to any adjustments a Partner has received distributions from the Partnership which are deficient given the adjustments which are required by this Section, the Partner shall be paid cash by the Partnership in the amount of the deficiency until the equitable results required by this Section are achieved.
Adjustments to Units. The Units will be equitably adjusted for any -------------------- stock split, stock dividend, reclassification or recapitalization of the Company which occurs subsequent to the date hereof.
Adjustments to Units
