Class B Partnership Units definition

Class B Partnership Units means those Partnership Units other than Class A Partnership Units and which represent the Partnership interest of the Limited Partners.
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Class B Partnership Units has the meaning set forth in the A&R LPA.
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Class B Partnership Units means the Class B Units of the Partnership.
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Examples of Class B Partnership Units in a sentence

  • Except as expressly provided herein, Class A Partnership Units and Class B Partnership Units shall entitle the holders thereof to equal rights under this Agreement.

  • Upon the withdrawal or removal of a General Partner, those Class A Partnership Units held by such Partner shall automatically be converted to Class B Partnership Units.

  • A Partner may hold both Class A Partnership Units (which represent such Partner's interest in the Partnership as a General Partner) and Class B Partnership Units (which represent such Partner's interest in the Partnership as a Limited Partner).

  • Class B Partnership Units shall not possess any voting rights or privileges as to any matters concerning the Partnership or its Partners.

  • If LTP fails to timely provide a Notice of its preference to the General Partner, all of the Class C Partnership Units will be converted to Class B Partnership Units in accordance with the formula stated in clause (ii) of this Paragraph 3(c).

  • The Parties agree and intend that each of the Class A Partnership Units, Class B Partnership Units and Class D Partnership Units shall be treated as equity interests in the Partnership and any return thereon a distributive share of income of the Partnership, in each case for U.S. federal income tax purposes.

  • A Redeeming Partner may not exercise the Redemption Right for less than one thousand (1,000) Class B Partnership Units or, if such Redeeming Partner holds less than one thousand (1,000) Class B Partnership Units, all of the Class B Partnership Units held by such Redeeming Partner.

  • By:_______________________________________________ Name:_____________________________________________ Title:____________________________________________ [ADD OTHER LIMITED PARTNERS] EXHIBIT A PARTNERS AND PARTNERSHIP INTERESTS Name and Address of Partner Class A Partnership Units Class B Partnership Units Agreed Initial Capital Account Percentage Interest GENERAL PARTNER: ▇▇ ▇▇▇▇▇ Realty Corp.

  • Buy-Sell Agreement and Noncompetition Agreement for Class A and Class B Partnership Units of Texas Spine and Joint Hospital, LLP, effective as of January 30, 2002.

  • Subject to compliance with the terms and conditions of this Agreement, the Company is hereby authorized to issue (a) up to four hundred (400) Partnership Units designated as Class A Partnership Units (the “Class A Units”); and (b) up to three thousand six hundred (3,600) Partnership Units designated as Class B Partnership Units (the “Class B Units” and together with the Class A Units, the “Common Units”).


More Definitions of Class B Partnership Units

Class B Partnership Units means the Partnership Units having the rights specified in Exhibit D.
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Class B Partnership Units means the limited partnership equity interests in the Partnership held by Class B Limited Partners and bearing all of the rights and obligations of the “Class B Partnership Units” provided herein.
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Class B Partnership Units means the Partnership Units having the Redemption Rights and the other rights specified in Exhibit D.
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Related to Class B Partnership Units

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class B Units means the Units having the privileges, preference, duties, liabilities, obligations and rights specified with respect to “Class B Units” in this Agreement.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.