Common use of Conversion Units Clause in Contracts

Conversion Units. The number of Conversion Units into which the entire class of Class D Units shall convert shall be equal to ten percent (10%) of such number of Conversion Units that are issued in the conversion of the Class B Unit and the Class C Unit, with each Class D Unit converting into the applicable pro rata number of Conversion Units based on the Class D Units being converted, with such calculation and conversion deemed to take place simultaneously with the conversion of the Class B Unit and the Class C Unit such that, post conversion, the Conversion Units issued upon conversion of the Class D Units shall be equal to ten percent (10%) of the aggregate number of Conversion Units that were issued in the conversion of the Class B Unit and the Class C Unit.