Class B Common Unit definition

Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

Class B Common Unit means a Unit representing a fractional part of the Partnership Interests of the Limited Partners and Assignees and having the rights and obligations specified with respect to Class B Common Units in this Agreement.

Class B Common Unit means a Unit having the rights and obligations specified with respect to a Class B Common Unit in this Agreement; provided, that a Class B Common Unit shall not have any voting rights under this Agreement or the Delaware Act.

Examples of Class B Common Unit in a sentence

• If, as a result of an exchange pursuant to the Exchange Agreement, Och-Ziff or any of its Subsidiaries (excluding any Operating Group Entity and any Subsidiary of an Operating Group Entity) acquires (in any manner) any Class A Common Units, each such Class A Common Unit will automatically convert into one Class B Common Unit, unless otherwise determined or cancelled.

• If, as a result of an exchange pursuant to the Exchange Agreement, Och-Ziff or any of its Subsidiaries (excluding any Operating Group Entity and any Subsidiary of an Operating Group Entity) acquires (in any manner) any Common Units, each such Common Unit will automatically convert into one Class B Common Unit, unless otherwise determined or cancelled.

• For the avoidance of doubt, no unrealized loss or Net Loss shall be allocated with respect to a Class B Common Unit or a Class C Common Unit prior to the conversion of such Class B Common Unit or Class C Common Units into a regular Common Unit.

• For the avoidance of doubt, vesting of Class B Common Units shall be governed by grant agreements between each Class B Common Unit Holder and the Partnership.

• For the avoidance of doubt, no Exchanging Holder shall be entitled to receive, in respect of a single record date or payment date, both Distributions on a Class B Common Unit comprising the Paired Interest subject to an Exchange and dividends on shares of Deliverable Common Stock received by such Holder in such Exchange.

More Definitions of Class B Common Unit

Class B Common Unit has the meaning set forth in Section 2.1(b)(ii).

Class B Common Unit has the meaning set forth in the LLC Agreement.

Class B Common Unit means a Partnership Security having the rights and obligations specified with respect to Class B Common Units set forth in this Agreement.

Class B Common Unit means the Company’s Class B Common Units (as defined in the Operating Agreement), as adjusted for any Unit split, Unit dividend or other combination, exchange, conversion, recapitalization, merger, consolidation or reorganization, or, if the Class B Common Units are hereafter changed or exchanged for different Units, interests or securities of the Company, such other Units, interests or securities, and any other Class B Common Units of the Company hereafter issued.

Class B Common Unit has the meaning given to such term in the Partnership Agreement. For the avoidance of doubt, “Class B Common Unit” includes each unvested Class B Common Unit.

Class B Common Unit means a Partnership Unit which is designated as a Class B Common Unit of the Partnership.

Class B Common Unit has the meaning set forth in Section 4.04(a).