Examples of Series D Unit in a sentence
The Series D Preferred Units shall be issued by the Partnership pursuant to the terms and conditions of the Series D Unit Purchase Agreement.
Solely for purposes of the maintenance of Capital Accounts under Article IV and the administration of allocations under Article V of the Agreement, the Redemption Price per Series D Unit shall be treated as a Liquidation Preference.
Cappelli does not make such designation in writing, Distrixxxxxxx xxxx xxxxect to each Series B, Series C and Series D Unit shall be reduced equally.
The Board shall designate a “Threshold Value” applicable to each Unit in such additional series of Series D Units to the extent necessary to cause such Series D Unit to constitute a “profits interest” as provided in Section 3.2(g), but not less than zero.
Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4. For purposes of applying this Section 6.5, each Senior Subordinated Unit, each Senior Subordinated Series C Unit and each Senior Subordinated Series D Unit then Outstanding shall be treated as if it had converted into a Common Unit.
Effective as of the Determination Date, the Series C Units that are converted to Series D Units shall receive a one-time distribution equal to the difference between (i) the amount that such Series C Units would have received since the Award Date if each converted Series C Unit had been a Series D Unit and (ii) the amount such Series C Units (converted and unconverted) actually received since the Award Date (the “Catch-Up Distribution”).
As of the Effective Date, Executive shall own 25,882 Series D-1 Units in the Company, of which none shall be vested as of the Effective Date, pursuant to, and subject to restrictions and adjustment provisions set forth in, the Series D Unit Agreement entered into between the Company and Executive on the date hereof.
The Threshold Value for each additional Unit in an additional series of Series D Units shall equal the amount that would, in the reasonable determination of the Board, be distributed with respect to a Series D Unit if, immediately prior to the issuance of such additional series the assets of the Company were sold for their fair market values and the proceeds (net of any liabilities of the Company) were distributed pursuant to Section 6.1.
The Series D Units shall be entitled to be voted together with the Common Units and not as a separate class or group on matters requiring a vote of partners based on one vote per Series D Unit.
Common Unit shall be entitled to one vote per Unit, each Series A Unit shall be entitled to 10 votes per Unit, each Series B Unit shall be entitled to 10 votes per Unit, each Series C Unit shall be entitled to 10 votes per Unit, each Series D Unit shall be entitled to 10 votes per Unit, and each Series E Unit shall be entitled to 10 votes per Unit.