Class B-3 Units definition

Class B-3 Units means a Partnership Interest representing a fractional part of the Partnership Interests of all Limited Partners, and having the rights and obligations specified with respect to Class B-3 Units in this Agreement.

Class B-3 Units has the meaning set forth in Section 3.2(a).

Class B-3 Units means the Units of the Company designated as the “Class B-3 Units” herein and having the rights, powers and duties pertaining thereto as are set forth in this Agreement.

Examples of Class B-3 Units in a sentence

• Immediately before the close of business on the Class B-3 Conversion Date, the Class B-3 Units shall become convertible at the option of the holder into Common Units on a one-for-one basis.

• For the avoidance of doubt, (A) the Class B-1 Units will be entitled to distributions of Available Cash with respect to the Quarter ending Xxxxx 00, 0000, (X) the Class B-2 Units will be entitled to distributions of Available Cash with respect to the Quarter ending March 31, 2022 and (C) the Class B-3 Units will be entitled to distributions of Available Cash with respect to the quarter ending March 31, 2023.

• The General Partner hereby designates and creates a series of Limited Partner Interests to be designated as “Class B Units,” initially consisting of a total of 7,000,000 Class B Units (of which 2,500,000 shall be designated Class B-1 Units, 2,500,000 shall be designated Class B-2 Units and 2,000,000 shall be designated Class B-3 Units), having the terms and conditions set forth herein.

• Immediately after the Tempo Effective Time, the Units comprise (i) Class A Units, (ii) Class B Units, comprising Class B-1 Units, Class B-2 Units and Class B-3 Units, (iii) Class C Units and (iv) Class Z Units, comprising Class Z-A Units, Class Z-B-1 Units and Class Z-B-2 Units.

• On the Effective Date, the Executive shall receive a grant (the “Equity Grant”) of 1020.28 Class B-1 Units, 1700.47 Class B-2 Units and 680.19 Class B-3 Units (as defined in the LLC Agreement) of Palace Holdings Group, LLC.

More Definitions of Class B-3 Units

Class B-3 Units means units of Investment’s class of capital interests known as Class B-3 units.

Class B-3 Units means the Class B-3 limited liability company interests of Alight Holdings following the Business Combination, having the rights and privileges as set forth in the Alight Holdings Operating Agreement, and which are restricted subject to vesting and will vest and automatically convert into an equivalent number of Class A Units upon the occurrence of a Class B-3 Vesting Event, in accordance with the terms and conditions set forth in the Alight Holdings Operating Agreement.

Class B-3 Units has the meaning assigned to such term in Section 5.7(b).

Class B-3 Units means the Class B-3 Units of the Partnership representing the interests of the Partnership set forth in this Agreement. and by adding the following sentence at the end of the definition of “Family Trust”:

Class B-3 Units means profits interests in the Company having the economic and other rights set forth herein with respect to “Class B-3 Units” or any successor securities issued with respect thereto.

Class B-3 Units means the Class B-3 Units of the Partnership representing the interests of the Partnership set forth in this Agreement. and by adding the following sentence at the end of the definition of “Family Trust”: In addition, the Xxxxx X. Xxxxxxxxxxx 1998 Long-Term Trust shall be a Family Trust in respect of Xxxxx X. Xxxxxxxxxxx.

Class B-3 Units has the meaning set forth in the LLC Agreement.