Unit Split Clause Samples

A Unit Split clause defines the process by which existing units of ownership, such as shares or partnership interests, are divided into a greater number of units without altering the overall value of the holder's interest. In practice, this means that if a company declares a 2-for-1 unit split, each unit holder will receive an additional unit for every unit they own, effectively doubling the number of units while maintaining the same total ownership percentage. This clause is commonly used to increase the liquidity of units, make them more affordable to new investors, and ensure proportional ownership remains unchanged among existing holders.
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Unit Split. Contingent and effective immediately upon the effectiveness of this Amendment (the “Effective Time”), and without further action on the part of the Company or the holders of (i) Common Units issued and outstanding immediately prior to the Effective Time (“Old Common Units”), (ii) Preferred Units issued and outstanding immediately prior to the Effective Time (“Old Preferred Units”), or (iii) Profits Interests and outstanding immediately prior to the Effective Time (the “Old Profits Interests”), each then outstanding share of Old Common Units, Old Preferred Units and Old Profits Interests, shall be reconstituted and reclassified as one quarter of the units of the same class and series of Common Units, Preferred Units or Profits Interests, as applicable (the “Unit Split”). Furthermore, the Profits Interest Threshold Amount for each outstanding Profits Interest shall be proportionally adjusted to reflect the Unit Split. The Unit Split shall occur automatically whether or not the certificates representing such outstanding units have been surrendered to the Company or its transfer agent, provided, however, that the Company shall not be obligated to issue certificates evidencing the Common Units, Preferred Units or Profits Interests, as applicable, issuable as a result of the Unit Split unless the existing certificates evidencing the applicable units prior to the Unit Split are either delivered to the Company, or the holder notifies the Company that such certificates have been lost, stolen or destroyed, and executes an agreement satisfactory to the Company to indemnify the Company from any loss incurred by it in connection with such certificates.
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Unit Split. All references to numbers of units in this Agreement shall be appropriately adjusted to reflect any unit distribution, split, combination or other recapitalization affecting the Units occurring after the date of this Agreement.
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Unit Split. Immediately prior to the Initial Offering, the Units representing Interests of the Initial Members as set forth on Exhibit B hereto shall be subdivided at a ratio of 4.25 to 1, resulting in the issuance of 4.25 Units for every Unit then held by the Initial Members.
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Unit Split. Effective as of immediately prior to the Separation Transfer, Article IV of the Partnership Agreement is hereby amended to include the following as Section 4.11 of the Partnership Agreement:
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Unit Split 
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Related to Unit Split

  • Stock Split All references to numbers of shares in this Agreement shall be appropriately adjusted to reflect any stock dividend, split, combination or other recapitalization affecting the Capital Stock occurring after the date of this Agreement.

  • Mergers, Recapitalizations, Stock Splits, Etc Pursuant and subject to Section 12 of the Plan, certain changes in the number or character of the Common Stock of the Company (through sale, merger, consolidation, exchange, reorganization, divestiture (including a spin-off), liquidation, recapitalization, stock split, stock dividend or otherwise) shall result in an adjustment, reduction or enlargement, as appropriate, in Participant’s rights with respect to any unexercised portion of the Option (i.e., Participant shall have such “anti-dilution” rights under the Option with respect to such events, but shall not have “preemptive” rights).

  • Stock Splits Until the Notes and all notes issued pursuant to the terms thereof are no longer outstanding, the Company shall not effect any stock combination, reverse stock split or other similar transaction (or make any public announcement or disclosure with respect to any of the foregoing) without the prior written consent of the Required Holders (as defined below).

  • Combination & Split Up The Registrar shall register the split-up or combination of ADRs (and of the ADSs represented thereby) on the books maintained for such purpose and the Depositary shall (x) cancel such ADRs and execute new ADRs for the number of ADSs requested, but in the aggregate not exceeding the number of ADSs evidenced by the ADRs canceled by the Depositary, (y) cause the Registrar to countersign such new ADRs and (z) Deliver such new ADRs to or upon the order of the Holder thereof, if each of the following conditions has been satisfied: (i) the ADRs have been duly Delivered by the Holder (or by a duly authorized attorney of the Holder) to the Depositary at its Principal Office for the purpose of effecting a split-up or combination thereof, and (ii) all applicable fees and charges of, and expenses incurred by, the Depositary and all applicable taxes and governmental charges (as are set forth in Section 5.9 and Exhibit B hereto) have been paid, subject, however, in each case, to the terms and conditions of the applicable ADRs, of the Deposit Agreement and of applicable law, in each case as in effect at the time thereof.

  • Reverse Split The Company has taken all necessary corporate action to effectuate a reverse split of its issued and outstanding Common Stock and preferred stock on the basis of one (1) such share for each 2.67 shares of issued and outstanding Common Stock and Preferred Stock, as applicable (the “Reverse Split”), and such Reverse Split became effective on June 22, 2020.