Conversion Units. The number of Conversion Units into which the Class B Unit shall convert shall be equal to such number of Conversion Units as would provide the holder of the Class B Unit with an ownership interest in the Company, calculated on a post-conversion basis, equal to the Conversion Interest, after taking into account the simultaneous conversion of the Class D Units as described in Section 3.1(g).
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Kadmon Holdings, LLC), Limited Liability Company Agreement (Kadmon Holdings, LLC)