Class A Units. If a Warrantholder exercises Warrants in connection with a tender offer for settlement prior to the First Regular Call Date, each Class A Unit called in connection with such exercise shall receive, in addition to principal and accrued interest, $1.50 per Class A Unit from the proceeds of the Warrant exercise. Class B Payments: If a Warrantholder exercises Warrants, then the Class B Units designated to be called in connection with such exercise shall receive the corresponding portion of the Class B Present Value Amount, adjusted for accrued Class B Payments on the Class B Units otherwise paid. If the Underlying Security Issuer redeems Underlying Securities and the previous paragraph does not apply, then the Class B Units designated for a redemption in connection with such redemption of Underlying Securities shall receive the amount with respect to the Class B Present Value Amount allocated for distribution in accordance with the applicable provisions of the Distribution Priorities below, paid as of the date of such redemption as an additional distribution.
Class A Units. The Members acknowledge and agree that for the purposes of determining whether and to what extent each Member is permitted to participate in the Tag-along Sale, Class A-1 Units and Class A-2 Units shall not be considered separate series.
Class A Units. The term “Class A Units” shall have the meaning set forth in the preface.
Class A Units. The term “Class A Units” means the Units having the privileges, preferences, and rights specified with respect to “Class A Units” in this Agreement, including those described in Section 7.1(c)(2).
Class A Units. Each Class A Unit shall be entitled to one (1) vote on matters with respect to which the Members are entitled to vote, other than the election of Elected Directors. In addition, the Class A Units shall be entitled to certain preferences and rights as expressly set forth in this Agreement.
Class A Units. Subject to Section 11.4, each Service Member shall have an annual right to redeem his or her Class A Units as provided in Section 7.3 of the Plan.
Class A Units. The Company shall issue Class A Units to Service Members in exchange for shares (or fractional shares) of WMG Common Stock received upon settlement of Deferred Equity Units pursuant to the Plan. In addition, the Company may issue Class A Units to the Managing Member in exchange for shares (or fractional shares) of WMG Common Stock.
Class A Units. The redemption of any Class A Unit held by a Service Member (including an Affected Member) shall be effected (at the option of the Managing Member) by (x) the Managing Member contributing cash to the Company to fund the redemption of such Class A Unit, the Managing Member receiving one Class A Unit in exchange for such cash contribution and the Company distributing such cash to such Service Member in redemption of such Class A Unit or (y) subject to Section 11.5(c), the Company distributing one WMG Fractional Share to such Service Member in redemption of such Class A Unit and WMG redeeming from such Service Member, and such Service Member selling to WMG, such WMG Fractional Share in exchange for cash, provided that, if permitted by Section 11.5(c), such redemption shall be effected in accordance with clause (y) of this Section 11.5(a) if the redemption price is determined pursuant to Section 11.1(b)(ii)(A).
Class A Units. Class A Units may be issued to Persons purchasing Units as determined by the Manager. There shall initially be 250,000 Class A Units authorized. Class A Units will represent 70% of the Company’s Membership Interests. Class A Units shall be non-voting and will not be entitled to vote on any matter subject to Member vote, except for removal of a Manger pursuant to Section 6.5.
Class A Units. In addition to the other rights and obligations of Class A Unitholders hereunder, Class A Units shall entitle the holder of such Class A Units to (i) vote in all matters reserved to the Members by this Agreement or the Act, and (ii) to share in all Distributions from the Company, other than with respect to the Class B Units, as set forth herein.
