Other Units. In addition to LP Units, the Partnership is hereby authorized to issue other types, classes and series of Units. With respect to such other types, classes and series of Units, subject to the provisions of Section 5.3, the Board is authorized to provide for the issuance of such Units in any type, class or series by amending this Agreement to reflect such issuance and to establish the Units to be included in each such type, class or series, and to fix the relative rights, obligations, preferences and limitations of the Units of each such type, class or series.
Appears in 2 contracts
Sources: Limited Liability Limited Partnership Agreement (Ladder Capital Finance Holdings LLLP), Limited Liability Limited Partnership Agreement (Ladder Capital Corp)
Other Units. In addition to LP Units, the Partnership is hereby authorized to issue other types, classes and series groups of Units. With respect to such other types, classes and series groups of Units, subject to the provisions of Section 5.3, the Partnership Board is authorized to provide for the issuance of such Units in any type, class or series group by amending this Agreement to reflect such issuance and to establish the Units to be included in each such type, class or seriesgroup, and to fix the relative rights, obligations, preferences and limitations of the Units of each such type, class or seriesgroup.
Appears in 1 contract
Sources: Limited Liability Limited Partnership Agreement (Ladder Capital Corp)