Class A Capital Units. (a) Issuance of Class A Units as Part of the Reorganization. As part of the Reorganization, 6,328,450 Class A Capital Units are being issued to the Cooperative in exchange for all of the Cooperative’s assets and liabilities. The Cooperative is being dissolved and the Class A Capital Units are being distributed to the shareholders of the Cooperative in proportion to the equity shares held by each shareholder of the Cooperative. In the event any shareholder of the Cooperative fails to execute a counterpart signature page of the Operating Agreement, the Company shall have the right to redeem such Person’s Class A Capital Units as provided in Section 4.3, in addition to any remedies otherwise provided by law.
Appears in 3 contracts
Sources: Operating Agreement (Northern Growers LLC), Operating Agreement (Northern Growers LLC), Operating Agreement (Northern Growers LLC)