Outstanding Summit Interests definition
Outstanding Summit Interests means, collectively, (i) the outstanding shares of Class A Common Stock and (ii) the LP Units held by Persons other than the Company. For purposes of calculating any proportion of Outstanding Summit Interests, the number of Outstanding Summit Interests held by any Person shall consist of the sum of (a) the number of shares of Class A Common Stock held by such Person and (b) the number of shares of Class A Common Stock such Person would receive upon the exchange of all LP Units held by such Person in accordance with the Exchange Agreement.
Outstanding Summit Interests means the aggregate number of votes all outstanding shares of Common Stock would at such time be entitled to vote generally in the election of Directors. For purposes of calculating any proportion of Outstanding Summit Interests, the number of Outstanding Summit Interests held by any Person shall consist of the sum of (a) the number of shares of Class A Common Stock held by such Person and (b) the number of votes such Person is entitled to as a holder of Class B Common Stock, assuming in each case that the LP Units held by such Person have been exchanged for Class A Common Stock in accordance with the Exchange Agreement.
Examples of Outstanding Summit Interests in a sentence
Any vote, consent or approval of, or designation by, or other action of, the Blackstone Designator hereunder shall be effective if notice of such vote, consent, approval, designation or action is provided in accordance with Section 5.2 hereof by the Blackstone Party or Parties holding of record a majority of the Outstanding Summit Interests then held of record by Blackstone Parties as of the latest date any such notice is so provided.