Class A Unitholders definition
Examples of Class A Unitholders in a sentence
Until additional capital contributions are accepted and additional Units are issued, profits and losses for any Fiscal Year shall be allocated ten percent (10%) to Class A and then to Class A Unitholders in proportion to Class A Units held, and ninety percent (90%) to Class B and then to Class B Unitholders in proportion to Class B Units held, as provided in Article III of Appendix E.
The Class A Unitholders shall be permitted to participate in such Offer by delivery of an Exchange Notice (which Exchange Notice shall be effective immediately prior to the consummation of such Offer, and, for the avoidance of doubt, shall be contingent upon such Offer and not be effective if such Offer is not consummated).
The number of Class B Common Units purchased by each Class A Unitholder that elects to participate in such sale shall be equal to the product of (i) the number of Class B Common Units subject to such sale and (ii) the quotient of (A) the number of Class A Units held by such Class A Unitholder and (B) the total number of Class A Units held by all of the Class A Unitholders electing purchase Class B Common Units in such sale.
The amount of this fee will be deducted from distributions to Class A Unitholders.
For the avoidance of doubt, in no event shall the Class A Unitholders be entitled to receive in such Offer aggregate consideration for each Combined Unit that is greater than the consideration payable in respect of each share of Class A Common Stock in connection with an Offer (it being understood that payments under or in respect of the Tax Receivable Agreement shall not be considered part of any such consideration).