Common use of Splits, Distributions and Reclassifications Clause in Contracts

Splits, Distributions and Reclassifications. If there is any reclassification, reorganization, recapitalization or other similar transaction in which the shares of Class A Common Stock are converted or changed into another security, securities or other property, this Section 4.6 shall continue to be applicable, mutatis mutandis, with respect to such security or other property. This Section 4.6(c) is intended to preserve the intended economic effect of Section 4.1 and this Section 4.6 and to put each Member in the same economic position, to the greatest extent possible, with respect to Exchanges as if such reclassification, reorganization, recapitalization or other similar transaction had not occurred and shall be interpreted in a manner consistent with such intent.

Appears in 11 contracts

Samples: Limited Liability Company Agreement (Inspirato Inc), Limited Liability Company Agreement (Inspirato Inc), Limited Liability Company Agreement

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Splits, Distributions and Reclassifications. If there is any reclassification, reorganization, recapitalization or other similar transaction in which the shares of Class A Common Stock are converted or changed into another security, securities or other property, this Section 4.6 Article XII shall continue to be applicable, mutatis mutandis, with respect to such security or other property. This Section 4.6(c) 12.3 is intended to preserve the intended economic effect of Section 4.1 3.1 and this Section 4.6 Article XII and to put each Member in the same economic position, to the greatest extent possible, with respect to Exchanges as if such reclassification, reorganization, recapitalization or other similar transaction had not occurred and shall be interpreted in a manner consistent with such intent.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Dutch Bros Inc.), Limited Liability Company Agreement (Rani Therapeutics Holdings, Inc.), Limited Liability Company Agreement (Dutch Bros Inc.)

Splits, Distributions and Reclassifications. If there is any reclassification, reorganization, recapitalization or other similar transaction in which the shares of Class A Common Stock Shares are converted or changed into another security, securities or other property, this Section 4.6 14.1 shall continue to be applicable, mutatis mutandis, with respect to such security or other property. This Section 4.6(c14.1(c) is intended to preserve the intended economic effect of Section 4.1 4.4 and this Section 4.6 14.1 and to put each Member in the same economic position, to the greatest extent possible, with respect to Exchanges (including Direct Exchanges) as if such reclassification, reorganization, recapitalization or other similar transaction had not occurred and shall be interpreted in a manner consistent with such intent.

Appears in 3 contracts

Samples: Operating Agreement (Biote Corp.), Limited Liability Company Agreement (OppFi Inc.), Business Combination Agreement (FG New America Acquisition Corp.)

Splits, Distributions and Reclassifications. If there is any reclassification, reorganization, recapitalization or other similar transaction in which the shares of Class A Common Stock Shares are converted or changed into another security, securities or other property, this Section 4.6 14.1 shall continue to be applicable, mutatis mutandis, with respect to such security or other property. This Section 4.6(c14.1(c) is intended to preserve the intended economic effect of Section 4.1 3.4 and this Section 4.6 14.1 and to put each Member Limited Partner in the same economic position, to the greatest extent possible, with respect to Exchanges (including Direct Exchanges) as if such reclassification, reorganization, recapitalization or other similar transaction had not occurred and shall be interpreted in a manner consistent with such intent.

Appears in 3 contracts

Samples: Limited Partnership Agreement (Rush Street Interactive, Inc.), Business Combination Agreement (dMY Technology Group, Inc.), Business Combination Agreement (dMY Technology Group, Inc.)

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Splits, Distributions and Reclassifications. If there is any reclassification, reorganization, recapitalization or other similar transaction in which the shares of Class A Common Stock are converted or changed into another security, securities or other property, this Section 4.6 8.6 shall continue to be applicable, mutatis mutandis, with respect to such security or other property. This Section 4.6(c8.6(c) is intended to preserve the intended economic effect of Section 4.1 2.1 and this Section 4.6 8.6 and to put each Member in the same economic position, to the greatest extent possible, with respect to Exchanges as if such reclassification, reorganization, recapitalization or other similar transaction had not occurred and shall be interpreted in a manner consistent with such intent.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Direct Digital Holdings, Inc.), Limited Liability Company Agreement (Direct Digital Holdings, Inc.)

Splits, Distributions and Reclassifications. If there is any reclassification, reorganization, recapitalization or other similar transaction in which the shares of Class A Common Stock are converted or changed into another security, securities or other property, this Section 4.6 shall continue to be applicable, mutatis mutandis, with respect to such security or other property. This Section 4.6(c) is intended to preserve the intended economic effect of Section 4.1 and this Section 4.6 and to put each Member in the same economic position, to the greatest extent possible, with respect to Exchanges as if such reclassification, reorganization, recapitalization or other similar transaction had not occurred and shall be interpreted in a manner consistent with such intent.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Wheels Up Experience Inc.)

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