New Class B LLC Units definition

New Class B LLC Units means the equity interests of Reorganized Parent issued to the Holders of Allowed Senior Notes Claims pursuant to this Plan (subject to dilution by the automatic conversion of New Class A LLC Units upon a Liquidity Event) with the terms described in the Restructuring Term Sheet, to be set forth in the Reorganized Parent LLC Agreement.
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Examples of New Class B LLC Units in a sentence

  • Interests in the Senior Exit Facility may be transferred separately from loans under the Third Lien Exit Facility and the New Class A LLC Units and the New Class B LLC Units (defined below) following the Effective Date.

  • Right of first refusal, in favor of the Participating Consortium Noteholders, Fidelity/Newport and Sciens, overproposed transfers of the New Class A LLC Units and the New Class B LLC Units, such right of first refusal to cease to apply if New Class A LLC Units or New Class B LLC Units are registered as provided below.

  • For purposes of this section, registrable securities include the New Class A LLC Units and New Class B LLC Units issued in connection with the transactions contemplated hereby.

  • Voting: New Class A LLC Units will have 100 votes per unit and will vote together as a single class with the New Class B LLC Units.

  • In the event that a Liquidity Event is not consummated on or before the fifth (5th) anniversary of the Effective Date, the number of members of the Board of Directors shall be increased by one (1) and the then holders of New Class B LLC Units (but not any holders of New Class A LLC Units which have been converted into New Class B LLC Units) shall have the right to designate one (1) additional member of the Board of Directors (for a total of eight (8) members) with full voting privileges.

  • It is beyond the scope of this project to precisely estimate the costs associated with MMV, but the Assessment Paper provides a very useful discussion and additional scenario analysis, which points to the impact such costs could have on the benefit-cost ratios.

  • Record Holders: The New Class B LLC Units will be issued pursuant to an exemptionfrom registration pursuant to Section 1145 of the Bankruptcy Code to either DTC or in book entry form to the DTC Trust Participants that own Senior Notes as of the record date for such distribution.

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  • Issuance: In addition to the Offering, on the Effective Date all of the Senior Notes shall be cancelled, and each Holder of Senior Notes shall receive, on account of its allowed claim in respect of such Senior Notes, such Holder’s pro rata share of the New Class B LLC Units.Post-Priority Return Participation Ratio:The New Class B LLC Units will receive dividends and distributions in accordance with the Participation Ratio described above.

  • Voting: The New Class B LLC Units will have 1 vote per share and will vote together with the New Class A LLC Units.

Related to New Class B LLC Units

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

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

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

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

  • LLC Units has the meaning set forth in the LLC Agreement.

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

  • Common Units is defined in the Partnership Agreement.

  • 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.

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

  • Class B Warrants means the Common Stock purchase warrants 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 5 years, in the form of Exhibit C attached hereto.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Subordinated Units has the meaning assigned to such term in the Partnership Agreement.

  • Class C Shares means the shares of Class C common stock 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 the Series A Preferred Units and the Series B Preferred 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 C Member means a Member holding the Class C Ordinary Share.

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Class B Percentage Interest means, with respect to a Class B Member as of a given date, that percentage obtained by dividing the total number of Class B Units owned by such Member by the total number of Class B Units issued and outstanding.

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

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].

  • Percentage Interests shall have the meaning specified in the Trust Agreement.

  • Class A Interests means the Units purchased by the Class A Members. The Class A Interests shall comprise sixty-five percent (65%) of the total Interests sold. Class A Percentage Interest shall be determined by calculating the ratio between each Class A Member’s Capital Account in relation to the total capitalization of the Company provided by the Class A Members.

  • Company Units has the meaning set forth in the Recitals.