Changes in Outstanding Units Sample Clauses
The "Changes in Outstanding Units" clause defines how adjustments to the number of units, such as shares or partnership interests, are managed within an agreement. It typically outlines the procedures for issuing new units, redeeming existing ones, or handling events like stock splits or consolidations. For example, if a company issues additional shares or repurchases some from investors, this clause would specify how such changes affect ownership percentages and voting rights. Its core function is to ensure transparency and fairness in the allocation of interests among stakeholders when the total number of outstanding units changes.
Changes in Outstanding Units. The Managing General Partner is authorized to effect any Class A Unit split or declare and pay pro rata distributions of Class A Units to the holders of Class A Units. In the event of any such Class A Unit split or distribution, appropriate adjustments shall be made to the Indicated Distributions per Unit and the number of Class B Units convertible into Class A Units.
Changes in Outstanding Units. The Managing General Partner is authorized to effect any recapitalization, reclassification, Unit split, reverse Unit split or other adjustment in outstanding Units, including, without limitation, any such transaction to eliminate the holding of small numbers of Units or to reduce the number of holders of Units, without the need for any vote or approval of partners. The Managing General Partner may determine the terms of any such transaction including, without limitation, the method of treating or eliminating fractional Units.
Changes in Outstanding Units. The General Partner is authorized to effect any Unit split or recombination or declare and pay pro rata distributions of Units to the Unitholders.