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
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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”.
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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.
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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...
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Related to Class C Unit

  • Class B Units Class B Unitholders shall not be entitled to vote in any matters relating to the Company, unless otherwise reserved to the Members by the Act. In addition to the other rights and obligations of Class B Unitholders hereunder, Class B Units shall entitle the holder of such Class B Units to (i) Tax Distributions pursuant to Section 4.01(b), and (ii) a preferred return equal to the Class B Preferred Return Amount. The Class B Preferred Return Amount shall not be required to be paid annually but shall accrue and become payable at the earlier of (x) the fifth (5th) anniversary of the Effective Time, or (y) a liquidation of, or a taxable sale of substantially all of the assets of, the Company. Upon the occurrence of an event referenced in clause (y) above, each Class B Unitholder shall also be paid such Class B Unitholder’s Class B Preferred Return Base Amount, in addition to all of the outstanding, accrued and unpaid Class B Preferred Return Amount. On the seventh (7th) anniversary of the Effective Time, each Class B Unitholder may, at its option and in accordance with the notice and other procedural provisions set forth in Section 11.01(a) (the “7 Year Put Option”), sell all (but not less than all) of its Class B Units to the Company for an amount equal to such Class B Unitholder’s Class B Preferred Return Base Amount plus any outstanding and accrued Class B Preferred Return Amount of such Class B Unitholder (the “Class B Option Consideration”) and, upon the exercise of the 7 Year Put Option by any Class B Unitholder, the Company shall purchase all of such holder’s Class B Units for the Class B Option Consideration. Notwithstanding anything herein to the contrary, no Class B Preferred Return Amount shall be due and payable with respect to such Class B Units pursuant this Section 3.02(b) at such time or times specified in this Section 3.02(b) unless such Class B Units remain issued and outstanding at such time or times and no Redemption or Direct Exchange of such Class B Units described in Article XI hereof has occurred.

  • Class A Units If a Warrantholder exercises Warrants in connection with a tender offer for settlement prior to the First Regular Call Date, each Class A Unit called in connection with such exercise shall receive, in addition to principal and accrued interest, $1.50 per Class A Unit from the proceeds of the Warrant exercise. Class B Payments: If a Warrantholder exercises Warrants, then the Class B Units designated to be called in connection with such exercise shall receive the corresponding portion of the Class B Present Value Amount, adjusted for accrued Class B Payments on the Class B Units otherwise paid. If the Underlying Security Issuer redeems Underlying Securities and the previous paragraph does not apply, then the Class B Units designated for a redemption in connection with such redemption of Underlying Securities shall receive the amount with respect to the Class B Present Value Amount allocated for distribution in accordance with the applicable provisions of the Distribution Priorities below, paid as of the date of such redemption as an additional distribution.

  • Ltip Units (a) The General Partner may from time to time issue LTIP Units to Persons who provide services to the Partnership, for such consideration as the General Partner may determine to be appropriate, and admit such Persons as Limited Partners. Subject to the following provisions of this Section and the special provisions of Sections 4.5, 5.1(e), and 8.6, LTIP Units shall be treated as Limited Partnership Units, with all of the rights, privileges and obligations attendant thereto. For purposes of computing the Partners’ Percentage Interests, LTIP Units shall be treated as Common Units. (b) The Partnership shall maintain at all times a one-to-one correspondence between LTIP Units and Limited Partnership Units for conversion, distribution and other purposes, including without limitation complying with the following procedures: If an Adjustment Event (as defined below) occurs, then the General Partner shall make a corresponding adjustment to the LTIP Units to maintain a one-for-one conversion and economic equivalence ratio between Limited Partnership Units and LTIP Units. The following shall be “Adjustment Events:”

  • Units Interests in the Partnership shall be represented by Units. The Units initially are comprised of one Class: Class A Units. The General Partner may establish, from time to time in accordance with such procedures as the General Partner shall determine from time to time, other Classes, one or more series of any such Classes, or other Partnership securities with such designations, preferences, rights, powers and duties (which may be senior to existing Classes and series of Units or other Partnership securities), as shall be determined by the General Partner, including (i) the right to share in Profits and Losses or items thereof; (ii) the right to share in Partnership distributions; (iii) the rights upon dissolution and liquidation of the Partnership; (iv) whether, and the terms and conditions upon which, the Partnership may or shall be required to redeem the Units or other Partnership securities (including sinking fund provisions); (v) whether such Unit or other Partnership security is issued with the privilege of conversion or exchange and, if so, the terms and conditions of such conversion or exchange; (vi) the terms and conditions upon which each Unit or other Partnership security will be issued, evidenced by certificates and assigned or transferred; (vii) the method for determining the Total Percentage Interest as to such Units or other Partnership securities; and (viii) the right, if any, of the holder of each such Unit or other Partnership security to vote on Partnership matters, including matters relating to the relative designations, preferences, rights, powers and duties of such Units or other Partnership securities. Except as expressly provided in this Agreement to the contrary, any reference to “Units” shall include the Class A Units and any other Classes that may be established in accordance with this Agreement. All Units of a particular Class shall have identical rights in all respects as all other Units of such Class, except in each case as otherwise specified in this Agreement.

  • Preferred Units Notwithstanding anything to the contrary, the provisions of Section 14.3 are not applicable to Preferred Units or the holders of Preferred Units. Holders of Preferred Units shall have no voting, approval or consent rights under this Article XIV. Voting, approval and consent rights of holders of Preferred Units shall be solely as provided for and set forth in Article XVI.