Examples of Profit Units in a sentence
All outstanding Class A Units, Class B Units and Profit Units were duly authorized and validly issued and are fully paid and non-assessable (except as such non-assessability may be affected by Sections 18-607 and 18-804 of the DLLCA), and were not issued in violation of any preemptive or other similar rights.
If cash and property are to be distributed in kind simultaneously, the Partnership shall distribute such cash and property in kind in proportion to each Partner’s Profit Units and Equity Units.
Notwithstanding the foregoing and other than as provided for by the General Partner in accordance with Section 4.09(i) of the Operating Agreement, if there is Net Income, 50% of such Net Income shall be distributed (a “Mandatory Distribution”) to the Partners in accordance with, and in proportion to, their respective Profit Units or Equity Units, as applicable (but without duplication).
The number of Class A Units, Class B Units and Profit Units issued and outstanding and record ownership of such Outstanding Company Member Interests, in each case as of the date of this Agreement, are set forth on Company Disclosure Schedule 3.1(b).
Partnership information, including without limitation Profit Units and Equity Units, shall be kept confidential except as permitted by the General Partner or required to be disclosed by judicial or administrative process or by regulatory authority or other requirement of law (including federal securities laws) or directive of any governmental authority or stock exchange.