Class D Unit definition

Class D Unit means a Partnership Unit entitling the holder thereof to the rights of a holder of a Class D Unit as provided in this Agreement.

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Class D Unit means a Partnership Unit that is specifically designated by the General Partner as being a Class D Unit.

Class D Unit means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners, and having the rights and obligations specified with respect to a Class D Unit in this Agreement. A Class D Unit that is convertible into a Common Unit shall not constitute a Common Unit until such conversion occurs.

Examples of Class D Unit in a sentence

For purposes of this Agreement, any fractional Class D Units that vest or become entitled to distributions pursuant to the Partnership Agreement will be rounded to the nearest whole Class D Unit, as determined by the Company or the Partnership; provided, however, that in no event shall such rounding cause the aggregate number of Class D Units that vest or become entitled to such distributions to exceed the total number of Class D Units set forth in Section 1 of this Agreement.
Each Unit outstanding immediately prior to the Reclassification Date, regardless of class owned by a Member who is the holder of record of less than 20,000 Units, by virtue of this Section 4.1(d), and without any action on the part of the holder thereof, shall be reclassified as a Class D Unit, with the new voting rights, preferences, limitations and restrictions set forth in this Agreement.

More Definitions of Class D Unit

Class D Unit shall not constitute a Common Unit until such time as such Class D Unit is converted into a Common Unit pursuant to the terms hereof.

Class D Unit means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners and Assignees, and having the rights and obligations specified with respect to the Class D Units in this Agreement. The term “Class D Unit” does not refer to a Common Unit, and after the conversion of a Class D Unit into a Common Unit pursuant to the terms herein, such Unit will be a Common Unit.

Class D Unit means a Unit representing a fractional part of the Member Interests of all Members and, to the extent they are treated as Members hereunder, Assignees, and having the rights and obligations specified with respect to Class D Units in this Agreement. A “Class D Unit” shall not constitute a Common Unit until such time as such Class D Unit is converted into a Common Unit pursuant to the terms hereof.

Class D Unit means a Unit representing a fractional part of the equity interest in the Company having the rights and obligations specified with respect to the Class D Units in this Agreement.

Class D Unit has the meaning set forth in Section 3.4(a) and means those Units designated as Class D Units on issuance by the Company and set forth on the Member Schedule.

Class D Unit means a Class D Unit as defined in the LLC Agreement.

Class D Unit. The Partnership Interest held by the Class D Limited Partner, each full Class D Unit representing a $2,500 Capital Contribution.