Other Action Affecting Common Units Clause Samples
The "Other Action Affecting Common Units" clause defines how actions or decisions that impact the rights, value, or status of common units are to be handled within an agreement. This clause typically covers scenarios such as changes in voting rights, distributions, or other modifications that could affect holders of common units, and may require certain approvals or notifications before such actions can be taken. Its core practical function is to protect the interests of common unit holders by ensuring that any significant changes affecting their units are subject to oversight or consent, thereby preventing unilateral or unexpected alterations.
Other Action Affecting Common Units. The Company will not, by amendment of its Articles of Organization or the Operating Agreement, or through any reorganization, recapitalization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities, dividend or other distribution of cash or property, or any other voluntary action, avoid or seek to avoid the rights granted to Merchandiser hereunder or the observance or performance of any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all the provisions hereof, and in the taking of all such actions as may be necessary or appropriate in order to protect the rights of Merchandiser as set forth herein against impairment.
Other Action Affecting Common Units. In case at any time or from time to time the Company shall take any action relating to any class or series of Common Units other than the Class A Units (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with equity features), then, unless in the opinion of the Board such action will not have a material adverse effect upon the rights of any Holder of Purchased Common Units (taking into consideration, if necessary, any prior actions which the Board of Directors deemed not to materially adversely affect the rights of such Holder), the Company shall issue Antidilution Units in such manner and at such time as the Board may in good faith determine to be equitable in the circumstances.