Nonvoting Units definition

Nonvoting Units means Units (as that term is defined below) --------------- issued by the Company which do not entitle the holder thereof to exercise any voting rights, except only with respect to the Special Voting Matters (as that term is defined below) or in the event of the occurrence of a Special Circumstance (as that term is defined below), but in any of those events only up to the Return Date (as that term is defined below).

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Nonvoting Units means any Series A Preferred Units and the Class B Units.

Nonvoting Units means the Class A-1 Units, the Class B Units, the Class C Units and the Class D Units.

Examples of Nonvoting Units in a sentence

• The Nonvoting Members holding at least a majority of the total outstanding Nonvoting Units, represented in person or by proxy, shall constitute a quorum of the Nonvoting Members for purposes of any meeting of the Nonvoting Members.

• Each Nonvoting Distribution shall be made pro rata based upon the respective number of Nonvoting Units held by the Nonvoting Members.

• The issuance of Voting Units and/or Nonvoting Units to an Additional Member shall be subject to the vote of the Voting Members who hold at least a majority of the total outstanding Voting Units, and, if the Units are to be issued to the Additional Member prior to the Return Date, also subject to the vote of the Nonvoting Members who hold at least a majority of the total outstanding Nonvoting Units, as is provided in Section 5.9 above and Section 9.1 below.

• An unlimited number of both Voting Units and Nonvoting Units are hereby authorized.

• The issuance of any additional Voting Units or Nonvoting Units to any Initial Member shall be subject to the vote of the Voting Members who hold at least a majority of the total outstanding Voting Units, and, if the Units are to be issued to the Initial Member prior to the Return Date, also subject to the vote of the Nonvoting Members who hold at least a majority of the total outstanding Nonvoting Units, as is provided in Section 5.9 above.

More Definitions of Nonvoting Units

Nonvoting Units and the Nonvoting Members shall not, however, be deemed to be or treated as, respectively, Voting Units and Voting Members notwithstanding the occurrence of a Special Circumstance, and shall in all events continue to be treated as Nonvoting Units and Nonvoting Members with respect to (i) the payment of the Return Amounts to the Nonvoting Members as provided in Section 6.6 below; (ii) the allocation of Net Profits and Net Losses under Section 7.1 below; (iii) distributions under Sections 7.2 and 10.2 below; and (iv) the sale and purchase of the Nonvoting Units as provided in Section 8.4 below. The Nonvoting Members shall not otherwise participate in the management of the Company, and, as provided above, shall in all events have no right to participate in the management of the Company (whether with respect to Special Voting Matters or in the event of the occurrence of any Special Circumstance) at any time after the Return Date. Nonvoting Members are also not in any event agents of the Company for the purpose of its business or affairs or otherwise.

Nonvoting Units means the Class B Common Units. ---------------

Nonvoting Units shall have the meaning set forth in the Recitals to this Agreement.

Nonvoting Units means Units which entitle the holders thereof to Financial Rights but not Governance Rights.

Nonvoting Units. All Units granted pursuant to the Option Plan. Members who hold Nonvoting Units shall have no right with respect to such Units to vote or consent on any matter for which this Agreement provides or requires a vote or consents by Members with respect to any specified percentage, portion or number of Units or Voting Units.

Nonvoting Units means all of the Units of the Company which are not Voting Units. "Permanent Disability" means the inability of a Manager, due to a physical or mental condition, to perform his usual and customary duties as Manager for one hundred eighty (180) days during any twelve (12) month period. The determination of whether such Manager is permanently disabled for purposes of this Agreement shall be made by a licensed practicing physician selected by a Majority-in-Interest of the Members who are not then serving as Manager. In connection with such examination, the Manager consent to such examination for such purpose, agree to furnish any medical information requested by the examining physician and waive any applicable physician-client privilege that may arise because of such examination. Within thirty (30) days of his selection, the physician shall issue a written report to the Company regarding the Manager's condition. Such disability shall be deemed to commence on the date of such physician's report to the Company.

Nonvoting Units shall have the meaning set forth in the LLC Agreement.