Common Unit definition

Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

Common Unit has the meaning set forth in the Partnership Agreement.

Common Unit means a security of the Trust representing a proportionate share of the Beneficial Interest having the rights and obligations specified with respect to a Common Unit in this Agreement. The term “Common Unit” does not refer to or include any Subordinated Unit prior to its conversion into a Common Unit pursuant to the terms hereof.

Examples of Common Unit in a sentence

• In connection with the execution of the First Amendment (the “Amendment”) to the LLC Agreement, each Common Unit issued and outstanding immediately prior to the execution of the Amendment shall automatically be converted into 0.04 Common Units (the “Reverse Unit Split”), subject to the required redemption of Common Units held by Bakkt Pubco pursuant to Section 3.4 prior to the consummation of the Reverse Unit Split.

• The Tag Seller agrees that each other Class C Common Unit and Class C-1 Common Unit, as applicable, shall have the right to participate in such Tag Sale (the “Tag Along Rights”) by delivering written notice of such Class C Common Rights Holder’s intention to so participate within ten (10) days of receipt of the Tag Notice.

• In lieu of such fractional units to which a holder would otherwise be entitled, the Company shall make a cash payment to such holder equal to the product obtained by multiplying $9.9925 (which has been determined to be the fair market value of a Common Unit immediately after giving effect to the Reverse Unit Split) by such fraction.

• Unrealized Gain or Unrealized Loss deemed recognized as a result of a Revaluation Event shall first be allocated to the (A) Unitholders holding Privately Placed Units or (B) Unitholders holding Common Units (other than Privately Placed Units), Pro Rata, as applicable, to the extent necessary to cause the Capital Account in respect of each Privately Placed Unit then Outstanding to equal the Capital Account in respect of each Common Unit (other than Privately Placed Units) then Outstanding.

• With respect to all matters for which the Series A Members, Series B Members or Class C Common Holders have voting, consent or approval rights, either as provided by the Act or as expressly set forth in this Agreement, all Series A Members, Series B Members or Class C Common Holders, as applicable, shall be entitled to one vote for each Series A Unit, Series B Unit or Class C Common Unit, as applicable, held by such Series A Members, Series B Members or Class C Common Holders.

More Definitions of Common Unit

Common Unit means a Unit representing a fractional part of the ownership of the Company and having the rights and obligations specified with respect to Common Units in this Agreement.

Common Unit has the meaning assigned to such term in the MLP Agreement.

Common Unit means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners, and having the rights and obligations specified with respect to Common Units in this Agreement. The term “Common Unit” does not include a Subordinated Unit prior to its conversion into a Common Unit pursuant to the terms hereof.

Common Unit means a Partnership Unit which is designated as a Common Unit and which has the rights, preferences and other privileges designated herein in respect of Common Unitholders. The allocation of Common Units among the Partners shall be set forth on Exhibit A, as may be amended from time to time.

Common Unit means a Partnership Interest representing a fractional part of the Partnership Interests of all Limited Partners having the rights and obligations specified with respect to Common Units in this Agreement. For the avoidance of doubt, the reference herein to “Common Units” includes Class B Common Units and Class C Common Units, but does not include the portion of Incentive Units not classified as Class C Common Units and/or regular Common Units, and the reference herein to “regular Common Units” includes all Common Units that are not Class B Common Units and are not Class C Common Units.

Common Unit means a Limited Partner Interest having the rights and obligations specified with respect to Common Units in this Agreement. The term “Common Unit” does not refer to or include (i) prior to its conversion into a Common Unit pursuant to the terms hereof, any Series A Preferred Unit, (ii) prior to its conversion into a Common Unit pursuant to the terms hereof, any Non-Voting Common Unit or (iii) any Special Voting Unit, except that, with respect to Article VI and the Management Services Agreement, the term “Common Unit” shall be deemed to also refer to any Non-Voting Common Units.

Common Unit means a Partnership Security having the rights and obligations specified with respect to Common Units in this Agreement.