Examples of Class A Units in a sentence
If the Requisite Holders make a conversion election pursuant hereto, all other holders of outstanding Notes shall automatically be deemed to have made the same election, and all such other Notes shall be similarly converted into Class A Units in accordance with the terms hereof.
All Distributions shall be made seventy five percent (75%) to the holders of Class A Units and twenty five percent (25%) to the holders of Class B Units allocated pro rata within such class relative to the number of Units of such class held by the Members.
As of the date hereof, Xxxxxxxx is the Manager and is also the holder of all of the Class A Units.
The Company shall not be obligated to issue the Class A Units issuable upon such conversion unless the Note being converted is either delivered to the Company or the holder notifies the Company that such Note has been lost, stolen or destroyed and executes an agreement satisfactory to the Company to indemnify the Company from any loss incurred by it in connection therewith.
If the Notes are converted into Class A Units, the Company covenants and agrees that it shall cause its limited liability company agreement (the “Company LLCA”) to be amended to incorporate the provisions set forth below.