Class C Preferred Units Clause Samples
The 'Class C Preferred Units' clause defines a specific class of equity interests within a company or investment fund that carries preferential rights compared to common units. Typically, these units may entitle holders to priority in receiving dividends or distributions, liquidation preferences, or special voting rights. For example, Class C Preferred Units might receive a fixed return before any distributions are made to common unit holders. The core function of this clause is to clearly delineate the rights and privileges of Class C Preferred Unit holders, ensuring that their interests are protected and prioritized in certain financial or governance scenarios.
Class C Preferred Units. Neither the Company nor any Series shall, without Class C Preferred Approval, (i) amend or waive any provision of the Certificate or this Agreement in any manner or (ii) establish any Additional Series that, in the case of clause (i) or (ii):
(a) adversely affects those rights, preferences or privileges of the Class C Preferred Units that are specific or unique to such Class C Preferred Units; or
(b) adversely affects those rights, preferences or privileges of the Class C Preferred Units that are similar to or the same as the rights, preferences or privileges of the Series 1 Class A Units in a manner disproportionate from the treatment of such Class A Units; provided, however, that the creation or issuance of any class or series of Units, including without limitation, Units that entitle the holders thereof to rights that are junior to, on a parity with, or senior or superior to those of the Class C Preferred Units, will not be deemed to adversely affect the rights, preferences or privileges of the Class C Preferred Units of any Series.
Class C Preferred Units. The Limited Partners holding Class C Preferred Units shall have those rights, privileges and preferences as provided in Schedule B attached hereto (the "Certificate of Designations").
Class C Preferred Units. Under the authority ----------------------- granted to it pursuant to Section 4.2.A hereof, the General Partner hereby establishes an additional Class of Units entitled "Class C Preferred Units" (the "Class C Preferred Units"). Class C Preferred Units shall have the designations, preferences, rights, powers, restrictions and limitations set forth in Exhibit J hereto.
Class C Preferred Units