Safe Preferred Units definition

Safe Preferred Units means the units of a series of Preferred Units issued to the Investor in an Equity Financing, having the identical rights, privileges, preferences and restrictions as the Standard Preferred Units, except that such series will have (i) no voting rights, other than required by law; (ii) a per unit liquidation preference and conversion price for purposes of price-based anti-dilution protection equal to the Conversion Price; and (iii) dividend rights based on the Conversion Price.
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Safe Preferred Units means the units of the series of Preferred Units issued to the Investor in an Equity Financing, having the identical rights, privileges, preferences and restrictions as the Standard Preferred Units, other than with respect to: (i) the per unit liquidation preference and the initial conversion price for purposes of price- based anti-dilution protection, which will equal the Conversion Price; and (ii) the basis for any dividend rights, which will be based on the Conversion Price.
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Safe Preferred Units means the un ts of a ser es of Preferred Un ts ssued to the Investor n an Equ ty F xxxx xx, hav ng the dent ca r ghts, pr v eges, preferences and restr ct ons as the Standard Preferred Un ts, except that such ser es w have ( ) no vot ng r ghts, other than requ red by aw; ( ) a per un t qu dat on preference and convers on pr ce for purposes of pr ce-based ant - d ut on protect on equa to the Convers on Pr ce; and ( ) d v dend r ghts based on the Convers on Pr ce.
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Examples of Safe Preferred Units in a sentence

  • If there is an Equity Financing before the termination of this Safe, on the initial closing of such Equity Financing, this Safe will automatically convert into the number of Safe Preferred Units equal to the Purchase Amount divided by the Conversion Price.


More Definitions of Safe Preferred Units

Safe Preferred Units means Units having the having the privileges, preference, duties, liabilities, obligations, and rights specified with respect to ‘SAFE Preferred Units” in this Agreement.
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Related to Safe Preferred Units

  • Safe Preferred Stock means the shares of the series of Preferred Stock issued to the Investor in an Equity Financing, having the identical rights, privileges, preferences and restrictions as the shares of Standard Preferred Stock, other than with respect to: (i) the per share liquidation preference and the initial conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the basis for any dividend rights, which will be based on the Conversion Price.

  • Preferred Units means the Series A Preferred Units and the Series B Preferred Units.

  • Designated Preferred Stock means Preferred Stock of the Company or any direct or indirect parent of the Company (other than Disqualified Stock), that is issued for cash (other than to the Company or any of its Subsidiaries or an employee stock ownership plan or trust established by the Company or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officers’ Certificate, on the issuance date thereof.

  • Series A Preferred Stock means shares of the Company’s Series A Preferred Stock, par value $0.00001 per share.