Common use of Cancellation of Class B Units Clause in Contracts

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. Immediately before In accordance with Section 5.11(f) of the consummation of a Class B Cancellation EventPartnership Agreement, immediately prior to the Effective Time, (i) all each Class B Units Unit then issued and outstanding shall automatically be canceled and eliminated, cease to exist and no longer be Outstanding outstanding, and (ii) each the holder of such canceled Class B Units shall automatically cease to have any rights with respect thereto.