Examples of Series A Units in a sentence
As of the Effective Date, the Membership Interests shall be represented by a single series of Units referred to as “Series A Units.” The Company is authorized to issue an unlimited number of Series A Units.
On or prior to the Effective Date, subject to the terms and conditions of this Agreement, each Member listed on Schedule I has contributed (or is deemed to have contributed) to the Company or its designee cash or property with the value set forth under column (1) opposite such Member’s name on Schedule I, and, in exchange for such contribution, the Company has issued to such Effective Date Member the number of Series A Units set forth under column (2) opposite such Member’s name on Schedule I.
Otherwise, any Indemnification Obligations shall be satisfied in accordance with Article IX of the Contribution Agreement; provided, however, that, other than as provided in Section 6.1(d), no payments by the Flowco Member in satisfaction of an Indemnification Obligation shall be treated as additional Capital Contributions for purposes of this Agreement, nor shall such payment result in the grant of any additional Series A Units to the Flowco Member.
Schedule I sets forth the aggregate Capital Contributions that for all purposes hereunder are deemed to have been made by the Effective Date Members listed on Schedule I and the number of Series A Units held by such Effective Date Members as of the Effective Date.
When issued to the Contributors at Closing in accordance with the terms of this Agreement, the Series A Units will be duly authorized, validly issued in compliance with applicable Law, fully paid and nonassessable.