Converted Class B Units definition

Converted Class B Units has the meaning given such term in Section 6.1(d)(x)(A).
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Converted Class B Units in the proportion of the number of the Class B Units or the Converted Class B Units held by such holder or holders to the total number of Class B Units or Converted Class B Units then Outstanding, until each such holder has been allocated an amount of income, gain, loss or deduction that causes the Capital Account maintained with respect to such Class B Units or Converted Class B Units to be an amount equal to the product of (1) the number of Class B Units or Converted Class B Units held by such holder and (2) the Per Unit Capital Amount for a Common Unit (other than a Common Unit issued upon the conversion of a Class B Unit). The purpose of this allocation is to establish uniformity between the Capital Accounts underlying Class B Units or the Converted Class B Units and the Capital Accounts underlying most or all of the Common Units held by Persons other than the General Partner and its Affiliates.
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Converted Class B Units is defined in Section 5.11(g).
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Examples of Converted Class B Units in a sentence

  • The purpose of this allocation is to establish uniformity between the Capital Accounts underlying Class B Units or the Converted Class B Units and the Capital Accounts underlying most or all of the Common Units held by Persons other than the General Partner and its Affiliates.

  • Following any such allocation, the transferor’s Capital Account, if any, maintained with respect to the retained Class B Units or Retained Converted Class B Units, if any, will have a balance equal to the amount allocated under clause (B) hereinabove, and the transferee’s Capital Account established with respect to the transferred Class B Units or Converted Class B Units will have a balance equal to the amount allocated under clause (A) hereinabove.

  • Following any such allocation, the transferor’s Capital Account, if any, maintained with respect to the retained Sponsor Common Units, retained Class B Units or Retained Converted Class B Units, if any, will have a balance equal to the amount allocated under clause (B) hereinabove, and the transferee’s Capital Account established with respect to the transferred Sponsor Common Units, Class B Units or Converted Class B Units will have a balance equal to the amount allocated under clause (A) hereinabove.

  • Notwithstanding any provision of this Section 6.1 to the contrary (other than Section 6.1(d)(iii)), for all taxable periods beginning on or after January 1, 2016 and prior to the Actual Conversion Date, Unitholders holding Class B Units shall be treated as if they held Converted Class B Units as determined consistent with the provisions of Section 5.5(d)(i).

  • The purpose of this allocation is to establish uniformity between the Capital Accounts underlying Converted Class B Units and the Capital Accounts underlying Common Units held by Persons other than the General Partner and its Affiliates immediately prior to the receipt of Common Units pursuant to Section 5.11(f).

Related to Converted Class B Units

  • Class B Units means the Class B Units of the Company.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class C Shares means shares of the Class C Common Stock.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class B Ordinary Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Class B Warrants means, collectively, the Common Stock purchase warrants in the form of Exhibit C attached hereto delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which warrants shall be exercisable immediately and have a term of exercise equal to one year.

  • Class B Common Shares means the Class B Convertible Voting Common Shares of the Company, par value $1.00 per share.

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

  • Class B Ordinary Share means an Ordinary Share of a par value of US$0.0001 in the capital of the Company, designated as a Class B Ordinary Share and having the rights provided for in these Articles;

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Series B Preferred Units shall have the meaning provided in Section 1.

  • Preferred Units means a Partnership Interest, including the Series A Preferred Units, designated as a “Preferred Unit,” which entitles the holder thereof to a preference with respect to distributions, or as to the distribution of assets upon any Liquidation Event, over Common Units.

  • Class A Ordinary Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Series A Preferred Units has the meaning assigned to such term in Section 5.11(a).

  • Class B Preferred Stock means the Class B preferred stock, nominal value $1,000, of the Company.

  • Series C Preferred Units shall have the meaning provided in Section 1.

  • Company Class B Common Stock means the Class B common stock, par value $0.01 per share, of the Company.

  • LTIP Units means LTIP Units, as such term is defined in the Partnership Agreement.

  • Class C Ordinary Share shall have the meaning ascribed to it in Section 2.4(a).

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Parent Class B Common Stock means the Class B Common Stock, par value $0.01 per share, of Parent.

  • Class A Common Shares means class A common shares of a nominal or par value of US$0.00001 each in the capital of the Company having the rights provided for in the Memorandum and Articles of Association, and any shares into which such class A common shares may be converted.

  • Class B Interests As set forth in the Trust Agreement.

  • Class B Preferred Shares means class B preferred shares of Pembina;