Class B Common Units definition

Class B Common Units has the meaning set forth in Section 1(a) hereof.

Class B Common Units means a Common Unit which is designated as a “Class B Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

Class B Common Units means the Units designated as “Class B Common” Units pursuant to this Agreement.

Examples of Class B Common Units in a sentence

• Upon the withdrawal or removal of the General Partner, Limited Partners holding a majority of the outstanding Class B Common Units shall have the right to appoint a successor General Partner; provided, however, that any successor General Partner must be a direct or indirect wholly owned Subsidiary of Och-Ziff.

• The Liquidator (if other than the General Partner) shall be entitled to receive such compensation for its services as may be approved by holders of a majority of the outstanding Class B Common Units (subject to the terms of any Unit Designation).

• Upon dissolution, death, incapacity, removal or resignation of the Liquidator, a successor and substitute Liquidator (who shall have and succeed to all rights, powers and duties of the original Liquidator) shall within 30 days thereafter be approved by the General Partner (or, in the case of the removal of the Liquidator by holders of units, by holders of a majority of the outstanding Class B Common Units (subject to the terms of any Unit Designation)).

• The General Partner shall not cease to act as the General Partner of the Partnership without the prior written approval of the Limited Partners holding a majority of the outstanding Class B Common Units.

• The Liquidator (if other than the General Partner) shall agree not to resign at any time without 15 days’ prior notice and may be removed at any time, with or without cause, by notice of removal approved by holders of a majority of the outstanding Class B Common Units (subject to the terms of any Unit Designation).

More Definitions of Class B Common Units

Class B Common Units has the meaning given such term in the LLC Agreement.

Class B Common Units means the Company's Class B Common Units (as such term is defined in the LLC Agreement).

Class B Common Units has the meaning specified in the Operating Agreement.

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

Class B Common Units is defined in the Recitals.

Class B Common Units means the class B common units of the Company.

Class B Common Units has the meaning set forth in the Partnership Agreement.