Class C-1 Units definition

Class C-1 Units means that class of Company Interests issued to those Members set forth on Exhibit A in the amounts set forth thereon, and to such other Persons after the Effective Date in accordance with this Agreement, having the rights, powers, obligations, restrictions and limitations specified with respect to Class C-1 Units in this Agreement. For the avoidance of doubt, the Class C-1 Units shall only represent Voting Interests, and shall not have a right to any share in the profits, losses or distributions of the Company.

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Class C-1 Units means a Member’s Class C-1 limited liability company interest in the Company which, except as otherwise provided in this Agreement, represents such Member’s share of Net Profits, Net Losses and other items of Company income, gain, loss or deduction and a Member’s right to receive distributions of the Company’s assets and vote in accordance with the provisions of this Agreement and the Act.

Class C-1 Units means the Units having the privileges, preference, duties, liabilities, obligations and rights specified with respect to “Class C-1 Units” in this Agreement.

Examples of Class C-1 Units in a sentence

In the event of any conversion to Common Units of any Class C Units, Class C-1 Units shall be converted into Voting Common Units, and Class C-2 Units shall be converted into Nonvoting Common Units.
In the event any Member holds Class C-1 Units immediately prior to the Effective Time, such Class C-1 Units shall be deemed to have automatically converted at such time into Common Units pursuant to the Prior Operating Agreement and such Member shall be issued Class B Units in place of such Common Units immediately after the Effective Time.
Twenty-five percent (25%) of such Class C-1 Units shall vest on the first anniversary of the Closing and the remainder of such Class C-1 Units shall vest in equal parts over the subsequent thirty-six (36) months.
The Members acknowledge and agree that for the purposes of determining whether and to what extent each Member is permitted to participate in the Tag-along Sale, (i) Class A-1 Units, Class A-2 Units, Nonvoting Class A-1 Units and Nonvoting Class A-2 Units and (ii) Class C-1 Units and Class C-2 Units shall not be considered separate series.
The Members acknowledge and agree that for the purposes of determining whether and to what extent each Member is obligated to participate in the Drag- along Sale, (i) Class A-1 Units, Class A-2 Units, Nonvoting Class A-1 Units and Nonvoting Class A-2 Units, and (ii) Class C-1 Units and Class C-2 Units, as applicable, shall not be considered separate series.

More Definitions of Class C-1 Units

Class C-1 Units means the Class C-1 Membership Units as defined in the Prior Operating Agreement, which for the avoidance of doubt shall cease to exist at the Effective Time.

Class C-1 Units the Class C-2 Interests shall be evidenced by “Class C-2 Units” and the Class D Interests shall be evidenced by “Class D Units.”

Class C-1 Units has the meaning set forth in Section 3.4(a) and further means those Units designated as “Class C-1 Units” on issuance by the Company, which shall be specifically designated at the time of such issuance as being a “profits interest” for federal income tax purposes. Except as otherwise required by applicable Law or this Agreement, the Class C-1 Units shall have no voting or approval rights.

Class C-1 Units means the Class C-1 Membership Units, as defined in the Prior Operating Agreement.

Class C-1 Units has the meaning given such term in the Company LLC Agreement.

Class C-1 Units means the limited liability company interests that constitute Class C Interests (as defined in the Company LLC Agreement) designated as Class C-1 Units issued by the Company from time to time.

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