Examples of Class B Unitholder in a sentence
Upon the occurrence of an event referenced in clause (y) above, each Class B Unitholder shall also be paid such Class B Unitholder’s Class B Preferred Return Base Amount, in addition to all of the outstanding, accrued and unpaid Class B Preferred Return Amount.
A Class B Unitholder desiring to exercise its Redemption Right (the “Redeeming Member”) shall exercise such right by giving written notice (the “Redemption Notice”) to the Company with a copy to the Manager, to Acreage and to Pubco.
The Class B Unitholder will not be allocated any items of profit or loss of the Company.
Upon the removal, resignation, death or disability prior to the expiration of his or her term of office of (i) a Class A Director, such vacancy on the Board will be filled by the approval of a majority of the remaining Class A Directors and (ii) the Class B Director, such vacancy on the Board will be filled by the Class B Unitholder holding the sole Class B Unit.
Consequently, if the Class B Unitholder elects to obtain a redemption of any Class B Units, Series II prior to the effectiveness of such Shelf Registration, the condition specified in the first sentence of Section 5.1 does not apply and unregistered REIT Shares may be issued in redemption of the Class B Units, Series II by the General Partner or the Partnership.