Common use of Units; Capitalization Clause in Contracts

Units; Capitalization. Each Member’s interest in the Company, including such Member’s interest, if any, in the capital, income, gain, loss, deduction and expense of the Company and the right to vote, if any, on certain Company matters as provided in this Agreement, shall be represented by units of limited liability company interests (each, a “Unit”). The Company shall have four authorized classes of Units, designated as “Class A Units,” “Class B Units,” “Class C Units” and “LTIP Units.” The Company shall be authorized to issue an unlimited number of Class A Units, Class B Units, Class C Units and LTIP Units in compliance with the terms of this Agreement. The ownership by a Member of Units shall entitle such Member to allocations of profits and losses and other items and distributions of cash and other property as is set forth in Article 5 and Article 6. Except as otherwise provided in the Delaware Act or as may be otherwise expressly provided herein, Members holding Class B Units, Class C Units or LTIP Units, in their capacities as such, shall have no voting, consent or approval rights with respect to any matters relating to the Company or this Agreement.

Units; Capitalization. Each Member’s interest in the Company, including such Member’s interest, if any, in the capital, income, gain, loss, deduction and expense of the Company and the right to vote, if any, on certain Company matters as provided in this Agreement, shall be represented by units of limited liability company interests (each, a “Unit”). The Company shall have four authorized classes of Units, designated as “Class A Units,” “Class B Units,” “Class C Units” and “LTIP Units.” The Company shall be authorized to issue an unlimited number of Class A Units, Class B Units, Class C Units and LTIP Units in compliance with the terms of this Agreement. The ownership by a Member of Units shall entitle such Member to allocations of profits and losses and other items and distributions of cash and other property as is set forth in Article 5 and Article 6. Except as otherwise provided in the Delaware Act or as may be otherwise expressly provided herein, Members holding Class B Units, Class C Units or LTIP Units, Units in their capacities as such, shall have no voting, consent or approval rights with respect to any matters relating to the Company or this Agreement.

Units; Capitalization. Each Member’s interest in the Company, including such Member’s interest, if any, in the capital, income, gain, loss, deduction and expense of the Company and the right to vote, if any, on certain Company matters as provided in this Agreement, shall be represented by units of limited liability company interests (each, a “Unit”). The Company shall have four two authorized classes of Units, designated as “Class A Units,” “Class B Units,” “Class C Units” and “LTIP Units.” The Company shall be authorized to issue an unlimited number of Class A Units, Class B Units, Class C Units and LTIP Units in compliance with the terms of this Agreement. The ownership by a Member of Units shall entitle such Member to allocations of profits and losses and other items and distributions of cash and other property as is set forth in Article 5 and Article 6. Except as otherwise provided in the Delaware Act or as may be otherwise expressly provided herein, Members holding Class B Units, Class C Units or LTIP Units, Units in their capacities as such, shall have no voting, consent or approval rights with respect to any matters relating to the Company or this Agreement.

Units; Capitalization. Each Member’s interest in the Company, including such Member’s interest, if any, in the capital, income, gain, loss, deduction and expense of the Company and the right to vote, if any, on certain Company matters as provided in this Agreement, shall be represented by units of limited liability company interests (each, a “Unit”). The Company shall have four three authorized classes of Units, designated as “Class A Units,” “Class B C Units,” “Class C Units” and “LTIP Units.” The Company shall be authorized to issue an unlimited number of Class A Units, Class B C Units, Class C Units and LTIP Units in compliance with the terms of this Agreement. The ownership by a Member of Units shall entitle such Member to allocations of profits and losses and other items and distributions of cash and other property as is set forth in Article 5 and Article 6. Except as otherwise provided in the Delaware Act or as may be otherwise expressly provided herein, Members holding Class B Units, Class C Units or LTIP Units, Units in their capacities as such, shall have no voting, consent or approval rights with respect to any matters relating to the Company or this Agreement.