Tier I Units definition

Tier I Units means Tier I Units representing Company Interests in the Company entitled to receive the Tier I Percentage and with the other rights and obligations specified in this Agreement.

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Tier I Units shall have the meaning assigned to such term under the NewCo LLC Agreement.

Examples of Tier I Units in a sentence

• Distributions to the holders of New Tier I Units, New Tier II Units, New Tier III Units and New Tier IV Units shall be allocated among the holders of such Units pro rata, in accordance with the number of such Units held by each holder.

• Distributions to the holders of Legacy Tier I Units, Legacy Tier II Units and Legacy Tier III Units shall be allocated among the holders of such Units pro rata, in accordance with the number of such Units held by each holder.