Class B-3 Unit definition

Class B-3 Unit means a Limited Partner Interest having the rights and obligations specified with respect to Class B-3 Units in this Agreement.
View Source
Class B-3 Unit means a Unit having the rights and obligations -------------- specified with respect to "Class B-3 Units" in this Agreement.
View Source
Class B-3 Unit means a Class B-3 Unit as defined in the LLC Agreement.
View Source

Examples of Class B-3 Unit in a sentence

  • Each Outstanding Class B-1 Unit, Class B-2 Unit, Class B-3 Unit, Class B-4 Unit and Class B-5 Unit shall automatically convert into a number of Common Units equal to the Conversion Number on the applicable Class B Conversion Date without any further action by the holders thereof.

  • Prior to the occurrence of a Termination Date, 20% of the Class B-3 Units issued to Executive hereunder will become Vested Units on each of the first five anniversaries of the Closing Date (each such anniversary, a “Class B-3 Unit Vesting Date”) if, as of the last day of the Fiscal Year ending after the applicable Class B-3 Unit Vesting Date, the net debt goal set forth below (the “Net Debt Goal”) for the applicable Fiscal Year is attained.


More Definitions of Class B-3 Unit

Class B-3 Unit has the meaning ascribed to such term in the MWE Partnership Agreement.
View Source

Related to Class B-3 Unit

  • Class B-3 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-3 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-3 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-3 Percentage for such Distribution Date will be zero.

  • Class B-3 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-3 and Exhibit C hereto. Class B-3 Certificateholder: The registered holder of a Class B-3 Certificate.

  • Class B-3 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-3 Certificates pursuant to Paragraphs eleventh, twelfth and thirteenth of Section 4.01(a).

  • Class B-3 Pass-Through Rate For the first Distribution Date, 4.120% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-3 Margin, (2) the Weighted Maximum Rate Cap and (3) the Available Funds Cap for such Distribution Date.

  • Class B-4 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-4 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-4 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-4 Percentage for such Distribution Date will be zero.