Share and Unit Splits Clause Samples

Share and Unit Splits. Concurrently with the Closing, the Company may effect a share split or reverse split, or other similar event which results in an increase or decrease in the number of outstanding Class A Common Shares, as necessary to achieve an appropriate Price to the Public, and if it does so, (a) the Company shall cause each of the Operating Company and the El Toro Venture to effect a similar Unit split or reverse split, or similar adjustment to its units of membership interest (other than the El Toro Class D Units), to maintain the same ratio of the number of such Units to the number of Class A Common Shares, (b) the number in Section 2.01(e)(ii)(B) will be automatically increased or decreased in proportion to such increase or decrease in outstanding Class A Common Shares, as applicable, and (c) the number of OP Units, El Toro Class A Units, El Toro Class B Units, El Toro Class C Units and Class B Common Shares to be issued to any Investor pursuant to this Agreement will be automatically increased or decreased in proportion to such increase or decrease in outstanding Class A Common Shares, as applicable.