Cancellation of Class A Stock and Class A Units. At any time a share of Class A Stock is redeemed, repurchased, acquired, cancelled or terminated by a Class A Member, the Company shall redeem, repurchase, acquire, cancel or terminate, as applicable, one (1) Class A Unit (or other economically equivalent equity interest) registered in the name of such Class A Member upon the same terms and for the same price as the Class A Stock so that the aggregate number of Class A Units held by such Class A Member at all times equals the number of shares of Class A Stock issued outstanding.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Vine Energy Inc.), Limited Liability Company Agreement (Vine Energy Inc.)
Cancellation of Class A Stock and Class A Units. At any time a share of Class A Stock is redeemed, repurchased, acquired, cancelled or terminated by a Class A MemberVRI, the Company shall redeem, repurchase, acquire, cancel or terminate, as applicable, one (1) Class A Unit (or other economically equivalent equity interest) registered in the name of such Class A Member VRI upon the same terms and for the same price as the Class A Stock so that the aggregate number of Class A Units held by such Class A Member VRI at all times equals the number of shares of Class A Stock issued outstanding.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Vine Resources Inc.), Limited Liability Company Agreement (Vine Resources Inc.)