Class D Units. The Class D Units will initially be issued pro rata to the Lenders who are party to the Credit Agreement on the Closing Date (as such term is defined in the Credit Agreement) so that, on the Closing Date, each Lender holds the same number of Class D Units as it does Class A Units. The Class A Units to which the Class D Units correspond shall be referred to herein as the “Stapled Class A Units”. For avoidance of doubt, any Class A Units acquired by a Lender subsequent to the date hereof (other than any Stapled Class A Units and corresponding Class D Units transferred to any person as permitted by this Agreement) shall not be considered Stapled Class A Units. No additional Class D Units may be issued by the Company without the unanimous prior written consent of the holders of the Class D Units. Each Class D Unit shall have the following rights only:
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Kadmon Holdings, LLC), Limited Liability Company Agreement (Kadmon Holdings, LLC)