Class B Preferred Units definition

Class B Preferred Units means the Class B Preferred Units of the Company having the rights and obligations set forth in the LLC Agreement.

Class B Preferred Units has the meaning specified in Section 3.2(b).

Class B Preferred Units means the Units representing the Membership Interests having the rights and obligations with respect to Class B Preferred Units in this Agreement. The Manager has the authority to issue an unlimited number of Class B Preferred Units.

Examples of Class B Preferred Units in a sentence

• The Company will pay for the Class B Preferred Units to be purchased by it pursuant to the Preferred Put Election by first offsetting amounts outstanding under any bona fide debts owed by Executive to the Company and will pay the remainder of the purchase price by a check or wire transfer of immediately available funds.

• The Class B Preferred Units and the Class B Preferred Holders shall not have any designations, preferences, rights, powers or duties, other than as set forth in this Agreement or as provided by applicable law.

• Class B Preferred Units that are purchased or otherwise acquired by the Partnership shall be cancelled.

• So long as the Class B Securities Depositary shall have been appointed and is serving with respect to the Class B Preferred Units, payments and communications made by the Partnership to Class B Preferred Holders shall be made by making payments to, and communicating with, the Class B Securities Depositary.

• Any Class B Preferred Units held by the Partnership or any of its Subsidiaries or their controlled Affiliates shall not be entitled to vote.

More Definitions of Class B Preferred Units

Class B Preferred Units means the 10,714,280 authorized Class B Preferred Units authorized for issuance by the Company. The Class B Common Units are non-voting Units.

Class B Preferred Units has the meaning given to such term in the Partnership Agreement.

Class B Preferred Units has the meaning given to such term in the Amended and Restated Operating Agreement.

Class B Preferred Units has the meaning ascribed to it in the Elk Hills Power Agreements.

Class B Preferred Units means the Class B Preferred Units, as defined in the LLC Agreement.

Class B Preferred Units has the meaning set forth in the recitals.

Class B Preferred Units means the equity interests designated as “Class B Preferred Units” pursuant to the Parent LPA.