Effect of Exchange. (a) Upon the exchange by any Member of Class B Units for shares of Class A Common Stock pursuant to the Exchange Agreement, as of the effective date of such exchange, each such Class B Unit automatically shall be converted into a Class A Unit, and the Class B Units so exchanged shall thereby cease to exist, without any action on the part of any Person, including the Board or the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (CompoSecure, Inc.), Limited Liability Company Agreement (Roman DBDR Tech Acquisition Corp.)
Effect of Exchange. (a) Upon the exchange by any Member of Class B Units for shares of Class A Common Stock pursuant to the Exchange Agreement, as of the effective date of such exchange, each such Class B Unit automatically shall be converted into a Class A Unit, and the Class B Units so exchanged shall thereby cease to exist, without any action on the part of any Person, including the Board Managing Member or the Company.
Appears in 1 contract
Samples: Joinder Agreement (Roman DBDR Tech Acquisition Corp.)
Effect of Exchange. (a) Upon the exchange by any Member Limited Partner of Class B Units for shares of Class A Common Stock pursuant to the Exchange Agreement, as of the effective date of such exchange, each such Class B Unit automatically shall be converted into cancelled, the Partnership shall automatically issue a Class A UnitUnit to HCRX, and the Class B Units so exchanged shall thereby cease to exist, without any action on the part of any Person, including the Board General Partner or the CompanyPartnership.
Appears in 1 contract
Samples: Limited Partnership Agreement (Healthcare Royalty, Inc.)
