Examples of Series B Common Units in a sentence
The relative rights, powers, preferences, duties, liabilities and obligations of Holders of the Units (including the Series A Common Units, the Series B Common Units and the Series C Common Units) shall be as set forth herein.
The capital structure of the Company shall initially consist of three (3) classes of membership interests: (i) Series A Common Units, (ii) Series B Common Units and (iii) Series C Common Units.
Without limiting the generality of Section 2.3(a), from time to time after the date hereof, (i) in the event that FPH issues any FPH Series B Units to an FPH Management Member, then in connection with such issuance the Company will issue to FPH an equal number of Series B Common Units; and (ii) in the event that FPH issues any FPH Series C Units to an FPH Management Member, then in connection with such issuance the Company will issue to FPH an equal number of Series C Common Units.
The authorized Units that the Company has the authority to issue shall consist of (A) 66,000,000 Series A Common Units, (B) 550,000,000 Series B Common Units and (C) 44,000,000 Series C Common Units.
As of the date of this Agreement and the date that the purchase and sale of Preferred Stock, Series A Common Units and Series B Common Units is consummated, FPH, and each Affiliate of FPH (collectively, the "FPH" Parties") is in good standing under each Relevant Agreement (as defined in the Securityholders Agreement), and (ii) no FPH Party has in any material respect defaulted under or breached, or is in any material respect in default under or in breach of, any Relevant Agreement.
Holdings shall cause its subsidiary, Operating Holding Co., to issue to Parent, or a wholly-owned Subsidiary of Parent, its Series A Common Units and its Series B Common Units.
In the event FPH elects to exercise its rights under any FPH Management Equity Agreement to repurchase FPH Series B Units from an FPH Management Member, the Company will redeem an equal number of Series B Common Units held by FPH at a redemption price equal to the repurchase price payable by FPH for such FPH Series B Units pursuant to the terms of such FPH Management Equity Agreement (less any amount distributed to FPH in respect thereof by Boise Land & Timber Holdings Corp.).
Subject only to the following sentence, the price per Series B Common Unit paid by Parent or such wholly-owned Subsidiary of Parent shall be the same as that paid by Holdings for its Series B Common Units.
At the time of issuance, the Series B Common Units acquired by Parent shall constitute less than 20% of the outstanding Series B Common Units and the aggregate of all equity interests acquired by Parent shall be less than 50% of the aggregate equity interests of Operating Holding Co then outstanding.
At the time of issuance, the Series B Common Stock acquired by Parent Sub shall constitute less than 20% of the outstanding Series B Common Units and the aggregate of all equity interest acquired by Parent Sub shall be less than 50% of the aggregate equity interests of Timber Holdings then outstanding.