Fungible Class B Units definition

Fungible Class B Units of any Member holding Class B Units, as of any relevant date, means a number of such Class B Units equal to the quotient, rounded down to the nearest whole unit, of (a) such Member’s Class B Capital Account, divided by (b) the Class A Per Unit Balance; provided that, solely in the case of a conversion pursuant to Section 4.2(c) using the Adjusted Conversion Ratio, the number of Fungible Class B Units for purposes of such conversion shall be determined by further dividing the foregoing amount by the Adjusted Conversion Ratio; provided further that, for the avoidance of doubt, the number of Fungible Class B Units shall never exceed the total number of Class B Units held by such Member.
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Fungible Class B Units means, for any Member holding Class B Units, as of any relevant date, a number of such Class B Units equal to the quotient, rounded down to the nearest whole unit, of (a) such Member’s Class B Capital Account, divided by (b) the Class A Per Unit Balance; provided that, for the avoidance of doubt, the number of Fungible Class B Units shall never exceed the total number of Class B Units held by such Member.]
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Examples of Fungible Class B Units in a sentence

  • Upon the exercise by any Member of the Class B Conversion Right, all Fungible Class B Units held by all Members shall be so converted.

  • A Member may exercise the Class B Conversion Right to the extent that (A) such conversion is in connection with a valid exercise of a Redemption Right and (B) on or prior to the relevant Redemption Date, the Class B Units to be converted are Fungible Class B Units (taking into account, for such purpose, any allocations that may be made with respect to such Member pursuant to Section 4.2(l)).

Related to Fungible Class B Units

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

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

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

  • 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 A Common Units means the Company's Class A Common Units.

  • 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”.

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

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

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • 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.

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

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

  • 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 C Shares means the shares of Class C common stock of the Company.

  • Class B Common Shares means (x) the Company’s Class B Common shares, $0.002 par value per share, the terms of which may be designated by the board of directors of the Company in a certificate of designations and (y) any share capital into which such preferred shares shall have been changed or any share capital resulting from a reclassification of such preferred shares (other than a conversion of such preferred shares into Common Shares in accordance with the terms of such certificate of designations).

  • Class C 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 C Units in this Agreement. The term “Class C Unit” does not refer to a Common Unit until such Class C Unit has converted into a Common Unit pursuant to the terms hereof.

  • Common Units means common units representing limited partner interests in the Partnership.

  • OP Units means units of limited partnership interest in the Operating Partnership.

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

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

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

  • Class A Common Shares means shares of the Class A Common Stock, par value $.01 per share, of the Company.

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.

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

  • 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.

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