Capitalization and Units Sample Clauses
The 'Capitalization and Units' clause defines how specific terms are to be capitalized and how units of measurement are to be presented throughout the contract. It typically establishes that certain words, when capitalized, have particular defined meanings, and it may specify the use of standard units (such as metric or imperial) for consistency. This clause ensures clarity and uniformity in interpreting key terms and measurements, reducing the risk of misunderstandings or disputes over terminology and quantities.
Capitalization and Units. (a) Section 4.01(c) of the LLC Agreement is hereby amended and supplemented by adding the following to the end of such section: “Without limiting the foregoing, all previously forfeited Units held by the Managing Member shall be re-issued to other Members then within the employ (or serving as directors) of Aircell, without regard to the limitation on the issuance of additional Units under Section 4.05 and without regard to the qualification of such Units as “profits interests” under Section 7.01(b). Each such Member receiving re-issued Units other than as profits interests acknowledges and agrees that the receipt of those Units shall be regarded as compensation for which such Member shall be responsible for the payment of all applicable payroll withholding and other taxes.”
(b) The first sentence of Section 4.05(a) of the LLC Agreement is hereby deleted and replaced in its entirety as follows: “The Managing Member may cause the Company to issue an unlimited number of additional Units from time to time in respect of the corresponding amount of Aircell Common Stock held by the Company, except as provided in Section 4.01(c) with respect to the re-issuance of previously forfeited Units as other than profits interests upon a Change of Control.”
Capitalization and Units