Examples of Class D Limited Partner in a sentence
A Class D Limited Partner shall have the right, at such Limited Partner’s option, to either: (A) retain all of such Conversion Class D Common Units or (B) retain all of such Conversion Class E-2 Common Units.
Each Class D Limited Partner shall be a Potential Tag-Along Seller with respect to its Class D Common Units in connection with any proposed Tag-Along Sale and such Class D Common Units shall be deemed to be Class A Common Units for purposes of Section 8.5; provided that any consideration received by such Class D Limited Partner with respect to any such Class D Common Units shall be subject to Section 3.1(h).
In order to exercise such election right, a Class D Limited Partner shall deliver to the General Partner, prior to March 8, 2019 (the “Conversion Class E-2 Notice Date” ), a completed and executed notice in the form attached to this Agreement as Exhibit D (an “Election Notice”), in the manner specified in Section 10.10 of this Agreement.
If a Class D Limited Partner delivers a properly completed and executed Election Notice before the close of business on the Conversion Class E-2 Notice Date electing to retain all of his Conversion Class E-2 Common Units, then all of his Conversion Class D Common Units shall be cancelled automatically and he shall retain all of his Conversion Class E-2 Common Units as of the close of business on such date.
The Partnership will cause Och-Ziff to issue one Class B Share to each Class D Limited Partner who is an Individual Limited Partner in respect of each additional complete Operating Group A Unit conditionally owned by him and his Related Trusts as their Operating Group D Units convert into Operating Group A Units, with each such Class B Share to be issued to such Class D Limited Partner as of the date from which such Class D Limited Partner holds such additional complete Operating Group A Unit.