Common use of Subdivision and Combination Clause in Contracts

Subdivision and Combination. The Administrative Agent, at any time and from time to time, may subdivide or combine all, but not less than all, of the Units of any Series then outstanding. Both the number of Units held by each Unitholder immediately before any such subdivision or combination and the total number of Units of such Series then outstanding shall be adjusted accordingly. In the event of any subdivision or combination, the value of a Unit immediately after such subdivision or combination shall equal: (i) the Unit Value immediately prior to such subdivision or combination multiplied by (ii) a fraction, the numerator of which shall equal the number of Units of the applicable Series outstanding immediately prior to such subdivision or combination, and the denominator of which shall equal the number of Units outstanding immediately after such subdivision or combination.

Subdivision and Combination. The Administrative Agent, at any time and from time to time, may subdivide or combine all, but not less than all, of the Units of any Series then outstanding. Both the number of Units held by each Unitholder immediately before any such subdivision or combination and the total number of Units of such Series then outstanding shall be adjusted accordingly. In the event of any subdivision or combination, the value of a Unit immediately after such subdivision or combination shall equalequal the product of: (i) the value of a Unit Value immediately prior to such subdivision or combination multiplied by combination, (ii) multiplied by a fraction, the numerator of which shall equal the number of Units of the applicable Series outstanding immediately prior to such subdivision or combination, and the denominator of which shall equal the number of Units outstanding immediately after such subdivision or combination.