Examples of Nonvoting Common Units in a sentence
In the event of any conversion to Common Units of any Class C Units, Class C-1 Units shall be converted into Voting Common Units, and Class C-2 Units shall be converted into Nonvoting Common Units.
As proposed, the Common Units are divided into the Voting Common Units and the Nonvoting Common Units.
Shares of Class B common stock of the Issuer ("Class B Common Stock") have one vote per share but represent no economic interests and are issued in an equal amount to the number of Nonvoting Common Units of vTv Therapeutics LLC ("vTv Units") held.
As reflected in proposed new paragraphs (a) through (g) of Section 4.7, each of the Voting Class A Units, the Class C-1 Units, and the Voting Common Units series has broader voting rights than the Nonvoting Class A Units, the Class C-2 Units, and the Nonvoting Common Units series, respectively, in that the former series are entitled to vote in some capacity on a wider array of actions than the latter series.
As proposed, the Class C Units and the Common Units are each divided into a “voting” series (i.e., the Class C-1 Units and the Voting Common Units, respectively) with certain voting rights as prescribed in amended Section 4.7 and a “non-voting” series (i.e., the Class C-2 Units and the Nonvoting Common Units, respectively) with more limited voting rights as prescribed in amended Section 4.7, as further described below.
As proposed, the term “Nonvoting Common Units” refers to the Nonvoting Common Units described in proposed new Section 3.2(f)(iii).
M&F holds 95.5% of vTvx IHoldings LLC ("vTvx I") and 2.7% of vTvx II Holdings LLC ("vTvx II"), which hold 95% and 5%, respectively, of vTv Therapeutics Holdings LLC, which holds 25,000,000 shares of Class B common stock of the Issuer ("Class B Common Stock") and 25,000,000 Nonvoting Common Units of vTv Therapeutics LLC ("vTv Units").
In the event of a conversion to Common Units, Class C-1 Units will be converted into Voting Common Units, and Class C-2 Units will be converted into Nonvoting Common Units.
In the event of a conversion to Common Units, Class C–1 Units will be converted into Voting Common Units, and Class C–2 Units will be converted into Nonvoting Common Units.
This conversion structure mirrors that applicable to the Class C Units (i.e., Class C-1 Units are convertible into Voting Common Units, and Class C-2 Units are convertible into Nonvoting Common Units) and is similarly designed to keep the same voting construct in place with respect to the Common Units that are issued upon the conversion of any Class D Units (i.e., Converted Common Units) in a manner consistent with the BHCA considerations described above.