Issuance of Class B Shares. In the event that the Company issues Common Units or Subordinated Units to, or cancels Common Units or Subordinated Units held by, any Person other than the Managing Member, the Managing Member shall issue Class B Shares to such Person or cancel Class B Shares held by such Person such that the number of Class B Shares held by such Person is equal to the number of Common Units and Subordinated Units held by such Person.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (First Solar, Inc.), Limited Liability Company Agreement (Sunpower Corp), Limited Liability Company Agreement (8point3 Energy Partners LP)
Issuance of Class B Shares. In the event that the Company issues Common Units or Subordinated Units to, or cancels Common Units or Subordinated Units held by, any Person other than the Managing Member, the Managing Member shall issue Class B Shares to such Person or cancel Class B Shares held by such Person Person, as applicable, such that the number of Class B Shares held by such Person is equal to the number of Common Units and Subordinated Units held by such Person; provided, that, after the Lockup Expiration Date, the Managing Member may instead issue to such Person an option to acquire such number of Class B Shares.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Viper Energy, Inc.), Limited Liability Company Agreement (Viper Energy, Inc.)
