Authorized Number of Units. The Company may issue a maximum of ten thousand (10,000) Class A Units and a maximum of ninety thousand (90,000) Class B Units.
Authorized Number of Units. The Company may issue up to a maximum of 1,000,000 Class A Common Units with a par value of $0.001 per Unit. No additional Units of any class may be issued without the prior written consent of all Members prior to such issuance. All Units shall be represented by certificates substantially in 001 - Operating Agreement (QGM) - CM.20210624.docx 2 the form set forth in Exhibit B that shall include a restrictive legend indicating that the Units evidenced by the certificates are subject to the restrictions in this Agreement, the U.S. Securities Act of 1933, as amended, and applicable state securities laws.
Authorized Number of Units. (a) The aggregate number of Units that the Company is authorized to issue is the total number of Units consisting of the following classes:
Authorized Number of Units. The Company is hereby authorized to initially issue up to 31,600 Units total. The Company is hereby authorized to issue up to 23,700 Common Units and 7,900 Preferred Units. At any time, and from time to time, the Manager may, without the approval of the Members, amend this Agreement to provide for the issuance of Preferred Units in series, to establish from time to time the number of Preferred Units to be included in each series and to determine the designations, powers, preferences, rights, qualifications, limitations and restrictions of each series of Preferred Units, up to the maximum of number of Preferred Units authorized under this Agreement above. After such time as the Company has issued all authorized Preferred Units, the Company may also authorize and issue additional Preferred Units at the sole discretion of the Manager; provided, however, that the price of such Preferred Units is at least one thousand dollars ($1,000) per Preferred Unit. When issuing Units, the Manager shall determine the price per Unit. If any Preferred Units in a series of Preferred Units have not been issued, or have been repurchased by the Company, the Manager may remove the designation from such Preferred Units, such that they will be available for designation in the future. Preferred Units will be deemed issued on the effective date that the Company accepts the respective subscription agreement for such Preferred Units, such effective date to be contingent upon the Company having received such subscription funds from escrow and the subscriber having verified its accreditation per the subscription agreement requirements.
