Class C Unit Sample Clauses
A Class C Unit clause defines a specific category of ownership interest or equity unit within a company or investment fund, typically with distinct rights and obligations compared to other classes of units. This clause outlines the characteristics of Class C Units, such as their voting rights, entitlement to distributions, or conversion features, and may specify any restrictions or special privileges associated with them. By clearly delineating the terms for Class C Units, the clause ensures that all parties understand the unique role and benefits of this class, thereby preventing disputes and providing clarity regarding ownership structure.
Class C Unit. 5 Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Commission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Class C Unit. One Class C Unit will initially be issued to 3RP Holding Company, LLC. The Class C Unit shall be identical in all respects with the Class B Unit, except (i) as otherwise provided for in the definitions used in this Agreement and (ii) that non-definitional references to “Class B” shall be changed to “Class C”.
Class C Unit. “Class C Unit” means a Unit representing a fractional part of the Class C Unitholders’ interest in the profits, losses and distributions of the Company and having the rights and obligations specified with respect to the Class C Units in this Agreement.
Class C Unit. (a) Without prejudice to the right to receive EPAs pursuant to Section 7.2(b) below or any EPA Advances pursuant to Section 7.2(e) below, the Class C Unit shall have no right to receive any distributions approved from time to time by the General Partner.
(b) The holder of the Class C Unit shall be entitled, subject to applicable law and subject to this Section 7.2, to receive EPAs in the amount and manner determined in accordance with Schedule C.
(c) Notwithstanding Section 7.2(b), if (i) there is (A) a determination of Cause by a court or governmental body of competent jurisdiction in a final judgment, or (B) an admission of Cause by HCRX EPA or the Manager (each of (A) and (B) a “Cause Event”), then HCRX EPA or the Manager shall provide written notice of such Cause Event to each of the Partnership and HCRX as soon as reasonably practicable after its occurrence.
(d) Following the occurrence of a Cause Event, the provisions of Section 7.2(d)(i) to (d)(v) shall apply, as and to the extent applicable with respect to such Cause Event.
(i) If a Cause Event is due to an act of Cause that was committed by HCRX EPA or the Manager, then the General Partner shall have the right to terminate HCRX EPA from the Partnership by redeeming the Class C Unit for no consideration. The termination of HCRX EPA from the Partnership for Cause will also result in the termination of the Manager for Cause under the Management Agreement. HCRX EPA’s right to receive any EPAs in respect of any Portfolio Investments made after the IPO Date and prior to the termination of HCRX EPA shall continue following termination unless HCRX is terminated for Cause.
(ii) Subject to the ability to Cure a Cause Event pursuant to Section 7.2(d)(iii) below, in the event that M▇. ▇▇▇▇▇ commits an act constituting Cause (while he is acting as chief executive officer of HCRX), such action shall be imputed to HCRX EPA or the Manager and the General Partner shall be permitted to terminate HCRX EPA as set forth in Section 7.2(d)(i) above.
(iii) In the event that any executive of HCRX EPA or the Manager commits an act constituting Cause (including M▇. ▇▇▇▇▇ if he is no longer acting as chief executive officer of HCRX), then such action shall not be imputed to HCRX EPA or the Manager if the Manager terminates such executive’s engagement with, employment by or relationship with HCRX EPA and the Manager (a “Cure”) within such reasonable period of time as may be agreed to by the General Partner with respect to eac...