Cancellation of Class B Units. Immediately before the consummation of a Class B Cancellation Event, (i) all Class B Units shall automatically be canceled and eliminated, cease to exist and no longer be Outstanding and (ii) each holder of such canceled Class B Units shall automatically cease to have any rights with respect thereto.
Cancellation of Class B Units. Pursuant to Section 4.4 of the Oaktree Operating Agreement, on the Exchange Date, a number of Class B Units equal to the number of OCGH Units exchanged with the Intermediate Holding Companies pursuant to Section 2.1(b) (whether or not actually delivered) in connection with the Exchanges effected on such Exchange Date shall be automatically canceled without any further action by any party.
Cancellation of Class B Units. Cratos shall have cancelled all issued and outstanding Class B Units without payment to the holders thereof and terminated the Class B Restricted Unit Plan and shall have delivered written confirmation to Buyer evidencing the same.
Cancellation of Class B Units. As of immediately prior to the Closing, subject to consummation of the Transaction, (i) each Class B Unit, whether vested or unvested, shall be automatically canceled in exchange for no consideration, without any action on the part of the holders of such Class B Units, pursuant to Section 7.2(a) of the Equity Incentive Plan, and (ii) the Company shall take all actions necessary to terminate the Equity Incentive Plan in accordance with the terms thereof.
Cancellation of Class B Units. Class B Units that have been issued and repurchased, exchanged or reacquired in any manner by the Company shall be cancelled and shall not be reissued.
