New Common Units definition

New Common Units has the meaning set forth in Section 2.2.

New Common Units shall have the meaning set forth in Section 3.1(c).

New Common Units means common units representing limited liability company interests of Inspirato following the Business Combination, which will be non-voting economic interests in Inspirato.

Examples of New Common Units in a sentence

• None of the New Common Units will be issued in violation of the preemptive or other similar rights of any security holder of the Operating Partnership or any other person or entity.

• The New Common Units will be exempt from registration or qualification under the Act and applicable state securities laws.

• The issuance of the common Units to be issued by the Operating Partnership in connection with the contribution of the net proceeds from the sale of the Securities to the Operating Partnership (the “New Common Units”) has been duly authorized, and, when issued and delivered by the Operating Partnership, the New Common Units will be validly issued and fully paid.

• The New Common Units will be exempt from registration or qualification under the 1933 Act and applicable state securities laws.

• To the extent any portion of the option is exercised, the Company will contribute the net proceeds from the sale of the Option Securities to the Operating Partnership for a number of New Common Units equal to the number of Option Securities issued (the “Option Units”).

More Definitions of New Common Units

New Common Units means, with respect to any Exchanged Class C Common Incentive Unit, a number of Common Units equal to the quotient of (a) the difference between the Common Unit Redemption Price on the date of the Exchange and the then unsatisfied Class C Common Incentive Unit Return Threshold applicable to such Exchanged Class C Common Incentive Unit divided by (b) the Common Unit Redemption Price; provided that if the number of New Common Units determined by the foregoing calculation is negative, it shall be deemed to be zero.

New Common Units means the common units of LLC to be issued on the Effective Date pursuant to the Committee’s Plan.

New Common Units has the meaning given such term in the Recitals.

New Common Units has the meaning specified in the Contribution Agreement.

New Common Units means the newly issued common equity interests of Reorganized New Cotai, LLC to be issuable (i) on the Effective Date and distributable to (a) holders of Notes Claims, (b) holders of Existing New Cotai Interests (c) the Backstop Parties, and (d) the Exit Facility Lenders, in each case in accordance with the terms of the Plan and consistent with the Plan Support Agreement, and (ii) as otherwise permitted pursuant to the Corporate Governance Documents for Reorganized New Cotai, LLC.

New Common Units means new limited liability company interests in Reorganized TSE. There shall be 100 New Common Units in Reorganized TSE as of the Effective Date.

New Common Units means the common units issued in connection with the conversion of each NSH unit into the right to receive 0.55 of a common unit as consideration for the merger;