Class C Exchange definition

Class C Exchange means the exchange by the Company of Class C Units held by a Member in accordance with the provisions of Section 7.01(e).

Class C Exchange means the exchange by the Corporation, pursuant to the Separation Agreement, of one share of PKS Holdings Stock for each outstanding share of Class C Stock.

Class C Exchange means the exchange of Class C Units for shares of Class A Common Stock or cash consideration, as applicable, pursuant to the terms of the Greenspring Exchange Agreement.

Examples of Class C Exchange in a sentence

• The form of the Class C Exchange Agreement governing the exchange of Class C Units hereafter shall be determined by the Managing Member.

• If, as a result of an exchange pursuant to this Section 14.03(b) and the terms of a Class C Exchange Agreement, PubCo acquires (in any manner) Class C Units, each such Class C Unit acquired by PubCo will automatically convert into one Class A Unit.

• Except for an Attached Transfer, no share of Class R Stock (or fraction thereof) may be transferred prior to the Class C Exchange other than pursuant to the Mandatory Redemption.

• Prior to the Class C Exchange, in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation ("Liquidation"), the holders of Class R Stock then outstanding shall not be entitled to receive any property, assets or funds of the Corporation.

• For purposes hereof, neither the Class C Exchange, the attachment of Class R Stock to PKS Holdings Stock upon the occurrence of the Class C Exchange nor the reattachment of Class R Stock to PKS Holdings Stock pursuant to paragraph B.3. hereof shall be considered a transfer of Class R Stock.

• After the Class C Exchange, the Class R Stock shall, with respect to dividend distributions and with respect to distributions of assets and rights upon the liquidation, winding up and dissolution of the Corporation, rank on a parity with Class D Stock and junior to Preferred Stock.

• Upon the occurrence of the Class C Exchange, each share of Class R Stock (or fraction thereof) attached to a share of Class C Stock shall, automatically and without further action by or on behalf of the Corporation, PKS Holdings, the Corporation's transfer agent or the holder of such share of Class R Stock or Class C Stock, attach to the share of PKS Holdings Stock for which such share of Class C Stock was exchanged.

• Your warrants may be exchanged at an amount equal to the Class A Exchange Consideration, Class B Exchange Consideration or Class C Exchange Consideration, respectively.

• Following the Class C Exchange and prior to the occurrence of the Restricted Period Termination Date for a given share of Class R Stock (or fraction thereof), any attempted transfer of such share of Class R Stock (or fraction thereof), except an Attached Transfer, a Permitted Transfer or pursuant to the Mandatory Redemption, shall be void and of no effect.

• Prior to the Class C Exchange, no dividends may be declared or paid with respect to Class R Stock.