Class B Unit. Class B ownership unit in the Company, including any and all benefits to which the holder of such Class B Unit may be entitled as provided in this Agreement, together with all obligations of such holder to comply with the terms and provisions of this Agreement. Code. The United States Internal Revenue Code of 1986.
Class B Unit. One Class B Unit will initially be issued to 3RP Holding Company, LLC. The Class B Unit shall have the following rights only:
Class B Unit. A measure of ownership that entitles the holder to a return equal to seven percent (7%) per annum on a principal amount of $500. Class C Limited Partner – A Limited Partner who executes a Subscription Agreement whereby he, she, or it purchases one or more Class C Units.
Class B Unit. “Class B Unit” means a Unit representing a fractional part of the Class B Unitholders’ interest in the profits, losses and distributions of the Company and having the rights and obligations specified with respect to the Class B Units in this Agreement.
Class B Unit. From and after the Crossover Date, the Class B Member shall be entitled to receive a distribution of cash from the Company equal to 10.0% of all Citibank Receivables Net Collections; provided, however, that any distributions which would otherwise be required to be made to the Class B Member under this Section 3.2.B prior to the date on which the Citibank Receivables are released from the Indenture shall be deferred until the date on which the Citibank Receivables are released from the Indenture. Any amounts deferred under the preceding sentence shall cumulate and shall be distributed to the Class B Member, together with interest at the rate of 6% per annum from the date otherwise payable hereunder to the date actually paid, from any cash receipts of the Company prior to any distributions to the Class A Members under Section 3.2.A. Distributions to the Class B Member under this Section 3.2.B shall be made on or before the tenth day of each calendar month (or the next succeeding business day, if such tenth day is not a business day), with respect to Citibank Receivables Net Collections for the preceding calendar month.
Class B Unit. Class B Unit" means a Unit held by a Class B Unit Holder. Class B Unit Holders are not entitled to vote on any Member voting matters, except Class B Unit Holders shall have voting rights with respect to the Class B Voting Matters. Class B Units Holders are not Members. On Class B Voting Matters, each Class B Unit Holder shall be entitled to that number of votes that is equivalent to such Class B Unit Holder's voting percentage set forth beside such Member's name on Schedule A, and all Class B Voting Matters shall be decided, except as otherwise provided herein, by a majority of the voting power of the Class B Unit Holders. Other than voting rights, the Class A Common Units and the Class B Units shall be entitled to the same rights, duties, liabilities, and obligations hereunder; provided, however, no Class A Unit Holder shall receive a distribution unless all Class B Unit Holders first receive a distribution in proportion to their relative profits and losses percentages set forth on Schedule A.
Class B Unit. Each vested and unvested Class B Unit issued and outstanding immediately before the Effective Time shall be cancelled, extinguished and converted into and represent only the right to receive an amount in cash, without any interest thereon, equal to the Per Class B Unit Merger Consideration, upon the terms and subject to the conditions set forth in this Agreement, including the Escrow Amount and Expense Fund contribution provisions set forth in Section 1.10(g) and Section 1.10(h) and the indemnification provisions set forth in SECTION 11.
Class B Unit. Each Class A Unit and Class B Unit shall be accorded equal voting rights, so that Holdings has 99.9% of the voting rights in the Company and Intermediate has 0.1% of the voting rights in the Company. The Class A Units shall be entitled to the entire economic interest in the Company, so that, as of the date of this Agreement, such economic interest is held solely by Holdings.
Class B Unit. An ownership unit in the Partnership, issued to Class B Limited Partners representing a fractional part of the Partnership Interests of all Limited Partners, and having the rights and obligations specified with respect to Class B Units in this Agreement. Class C Limited Partner. A Limited Partner holding Class C Units.
Class B Unit. The Company shall issue one (1) Class B Unit to JECA. Ownership of the Class B Unit shall entitle JECA only to such Approval Rights as are expressly set forth in Section 5.2 of this Agreement. The Class B Unit shall entitle its holder to share in the allocations and distributions of the Company as described in Articles 10 and 11. The Company shall redeem the Class B Unit on the terms and conditions set forth in Section 3.8.
