Company Class B Units definition
Examples of Company Class B Units in a sentence
For clarity, any Exchange of Company Class B Units shall be accompanied by and conditioned on the surrender to the Company of an equal number of shares of Class B Common Stock.
This Agreement shall remain in effect (i) as to the Company and the Corporation, until the date on which no Company Class B Units or Company Class C Units remain outstanding and there exist no rights to acquire Company Exchangeable Units; and (ii) as to any Company Unitholder, until the date such Company Unitholder no longer holds or has any right to acquire Company Exchangeable Units.
Notwithstanding the foregoing, the Corporation shall have the right but not the obligation (in lieu of the Company) to have the Corporation acquire the Company Exchangeable Units and, as to Company Class B Units, Class B Common Stock any Company Unitholder is requesting to be exchanged pursuant to Section 2.1(a) directly from such Company Unitholder in exchange for shares of Class A Common Stock or, at the option of the Corporation, the Cash Settlement.
If a Company Unitholder validly transfers any or all of such holder’s Company Class B Units and shares of Class B Common Stock or Company Class C Units to another Person in a transaction in accordance with, and not in contravention of, the LLC Agreement, then such transferee (each, a “Permitted Transferee”) shall be required to execute and deliver a joinder to this Agreement, substantially in the form of Exhibit B hereto, whereupon such Permitted Transferee shall become a Company Unitholder hereunder.
Class A Units shall be voting and embody all the voting rights in the Company; Class B Units shall be non-voting and not have any voting rights in the Company.
In addition, as of the date hereof, there are Company Options outstanding for 6,050,375 Company Class B Units.
Legal Name of Company Unitholder: Maximum Number of Company Class B Units and shares of Class B Common Stock to be Exchanged: Maximum Number of Company Class C Units to be Exchanged: Limitation on Tax Benefit Payments under Section 3.01(b) of Tax Receivable Agreement: If the Company Unitholder desires the shares of Class A Common Stock be settled through delivery to a brokerage account, please provide the broker name, account holder name and account number below.
To the extent required under applicable Law, the Company’s Unitholders have properly approved and the Company has properly reserved for issuance the Company Class B Units issuable under the Company Equity Plan.
Legal Name of Company Unitholder: Maximum Number of Company Class B Units and shares of Class B Common Stock to be Exchanged: Maximum Number of Company Class C Units to be Exchanged: Limitation on Tax Benefit Payments under Section 3.01(b) of Tax Receivable Agreement: If the Company Unitholder desires the shares of Class A Common Stock be settled through the facilities of The Depositary Trust Company (“DTC”), please indicate the account of the DTC participant below.
At the Partnership Merger Effective Time, by virtue of the Partnership Merger and without any action on the part of the holders of Company Class B Units, each issued and outstanding Company Class B Unit that was not converted into Company OP Units immediately prior to the Partnership Merger Effective Time shall automatically be converted into 2.3591 Parent Class B Units.