Common use of Classes of Units and Preferred Units Clause in Contracts

Classes of Units and Preferred Units. The Company shall have the authority to issue a total of three hundred million (300,000,000) Units and Preferred Units, as follows: 2.1.2.1 Up to twenty-five million (25,000,000) may be designated by the Board of Managers as Preferred Units, and 2.1.2.2 All remaining amounts not then designated as Preferred Units shall be authorized for issuance as Units.