Class B Convertible Unit definition

Class B Convertible Unit means a “Class B Convertible Unit” as defined in the SXE Partnership Agreement.
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Class B Convertible Unit as defined in the SXE Partnership Agreement.
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Class B Convertible Unit means a “Class B Convertible Unit” as defined in the SXE Partnership Agreement. “ Class B PIK Unit ” means a “Class B PIK Unit” as defined in the SXE Partnership Agreement.
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Examples of Class B Convertible Unit in a sentence

  • Section 6.5 is hereby amended to add the following as a new penultimate sentence: Available Cash that is deemed to be Capital Surplus shall then be distributed 98% to all Unitholders holding Class B Convertible Units, Pro Rata, and 2% to the General Partner, until there has been distributed in respect of each Class B Convertible Unit then Outstanding an amount equal to the Cumulative Class B Convertible Unit Arrearage.

  • Each Class B Convertible Unit will be entitled to the number of votes equal to the number of Common Units into which a Class B Convertible Unit is convertible at the time of the record date for the vote or written consent on the matter.

  • Upon receipt of the Conversion Approval and compliance with Section 5.12(h), the terms of the Class B Convertible Units will be changed, automatically and without further action, so that each Class B Convertible Unit is converted into one Common Unit and, immediately thereafter, none of the Class B Convertible Units shall be Outstanding.

  • For the avoidance of doubt, each Common Unit issued upon conversion of a Class B Convertible Unit shall be entitled to receive the full distribution payable to the holder of a Common Unit concurrently with the distribution of such Excess Payment.

  • If a Cumulative Class B Convertible Unit Arrearage exists on the Conversion Effective Date, Available Cash shall be distributed 98% to the Unitholders holding Class B Convertible Units, Pro Rata, and 2% to the General Partner, until there has been distributed in respect of each Class B Convertible Unit then Outstanding an amount equal to the Cumulative Class B Convertible Unit Arrearage as of such date.

  • For the taxable year in which an Excess Payment is made, if not previously allocated, each holder of a Class B Convertible Unit shall be allocated items of gross income in an amount equal to the Excess Payment distributed to it as provided in Section 6.1(d)(iii)(A).

  • The initial Capital Account balance in respect of each Class B Convertible Unit issued on the Class B Issuance Date shall be the Class B Issue Price, and the initial Capital Account balance in respect of each Class B PIK Unit shall be zero.


More Definitions of Class B Convertible Unit

Class B Convertible Unit does not refer to (a) a Common Unit prior to the conversion of a Class B Convertible Unit into a Common Unit pursuant to the terms hereof or (b) a Subordinated Unit.
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Related to Class B Convertible Unit

  • Class B Warrants means Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which Class B Warrants shall be exercisable immediately and shall expire five years from the date of issuance unless previously exercised in full, in the form of Exhibit C attached hereto.

  • Class A Preferred Stock means the Class A preferred stock, nominal value $0.0001 per share, of the Company.

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Class B Common Shares means class B common shares of a nominal or par value of US$0.00001 each in the capital of the Company having the rights provided for in the Memorandum and Articles of Association, and any shares into which such class B common shares may be converted.

  • Class A Preferred Shares shall have the meaning ascribed to it in Section 2.4(a).