Class D Preferred Units Sample Clauses
The 'Class D Preferred Units' clause defines a specific class of equity interests within a company or investment fund, outlining the rights, preferences, and privileges associated with these units. Typically, this clause details aspects such as dividend or distribution priority, conversion rights, voting power, and liquidation preferences that distinguish Class D units from other classes like common or other preferred units. For example, holders of Class D Preferred Units may receive distributions before common unit holders or have special approval rights on certain company actions. The core function of this clause is to clearly delineate the financial and governance rights of Class D unit holders, thereby reducing ambiguity and potential disputes among investors and stakeholders.
Class D Preferred Units. Neither the Company nor any Series shall, without Class D 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 D Preferred Units that are specific or unique to such Class D Preferred Units; or
(b) adversely affects those rights, preferences or privileges of the Class D 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 D Preferred Units, will not be deemed to adversely affect the rights, preferences or privileges of the Class D Preferred Units of any Series.
Class D Preferred Units. The LLC is hereby authorized to issue Class D Preferred Units constituting up to 4,317,734 total Class D Preferred Units. As of the Effective Date, and after giving effect to the Initial Closing (as defined in the Class D Purchase Agreement), 2,399,463 Class D Preferred Units are issued and outstanding to the Members in the amounts set forth on the Information Exhibit opposite each Class D Preferred Investor’s name and the remainder of which may be sold only pursuant to the Class D Purchase Agreement, unless otherwise agreed by the Innventus Fund. Each Class D Preferred Investor shall be entitled to all voting rights of the Voting Members and shall have one vote per each Class D Preferred Unit upon each matter submitted to a vote of the Members. As of the Effective Date, 89,395 Class D Preferred Units are reserved for exercise under the Bridge Warrants (defined below).
Class D 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 D Preferred Units” (the “Class D Preferred Units”). Class D Preferred Units shall have the designation, preferences, rights, powers, restrictions and limitations set forth in Exhibit K hereto.
(c) Section 6.1.B of the Partnership Agreement is hereby amended by deleting Section 6.1.B of the Partnership Agreement and adding the following after Section 6.1.A:
Class D Preferred Units. The powers, preferences, rights, restrictions, and other matters relating to the Class D Preferred Units are as follows:
Class D Preferred Units