Class B Partnership Unit definition

Class B Partnership Unit means a unit of interest in the Partnership designated as a “Class B Exchangeable Partnership Unit”;
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Class B Partnership Unit has the meaning set forth in the Section 4.3 hereof.
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Class B Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued to Class B Limited Partners pursuant to Sections 4.1, 4.2 and 4.3. The number of Class B Partnership Units outstanding and the Percentage Interest in the Partnership represented by such Units are set forth in Exhibit A attached hereto, as such Exhibit may be amended from time to time. The ownership of Class B Partnership Units shall be evidenced by such form of certificate for units as the General Partner adopts from time to time unless the General Partner determines that the Class B Partnership Units shall be uncertificated securities.
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Examples of Class B Partnership Unit in a sentence

  • Any issued and outstanding Class B Partnership Unit that is not an Earned Class B Unit shall terminate without consideration immediately prior to the Partnership Merger Effective Time.

  • Each Class A and Class B Partnership Unit is entitled to vote at all meetings of the Limited Partners.

  • With regard to any transfer by gift or other disposition of any Class A Partnership Units, such Class A Partnership Units and all rights with respect to income and loss allocations thereto shall be terminated, and each Class A Partnership Unit so transferred or disposed of shall be converted to a Class B Partnership Unit.

Related to Class B Partnership Unit

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class B Units means the Class B Units of the Company.

  • Partnership Unit Designation shall have the meaning set forth in Section 4.2.A hereof.

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

  • Partnership Unit Economic Balance means (i) the Capital Account balance of the General Partner plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in each case to the extent attributable to the General Partner’s Partnership Units divided by (ii) the number of the General Partner’s Partnership Units.

  • 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”.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

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

  • Common Unitholder means a Member who is the registered holder of Common Units.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of the Act.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Preferred Unit means a fractional, undivided share of the Partnership Interests that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the Common Units that the General Partner has authorized pursuant to Section 4.2 hereof.

  • Class A Common Units means a Common Unit which is designated as a “Class A 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.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Membership Unit means an outstanding common membership unit of the LLC.

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • Class A Unit means any Partnership Unit that is not specifically designated by the General Partner as being of another specified class of Partnership Units.

  • Preferred Units means a Partnership Interest, including the Series A Preferred Units, designated as a “Preferred Unit,” which entitles the holder thereof to a preference with respect to distributions, or as to the distribution of assets upon any Liquidation Event, over Common Units.

  • Membership Units means the limited liability company interests in the Company held by the Members, expressed as a number of units held by each Member and set forth opposite such Member's name on Schedule I attached hereto, as amended, modified or supplemented from time to time.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Deemed Partnership Interest Value means, as of any date with respect to any class of Partnership Interests, the Deemed Value of the Partnership Interests of such class multiplied by the applicable Partner's Percentage Interest of such class.