Class B-4 Unit definition

Class B-4 Unit means a Unit having the rights and obligations -------------- specified with respect to "Class B-4 Units" in this Agreement.

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Class B-4 Unit a type of Class B Unit, has the meaning set forth in the LLC Agreement.

Class B-4 Unit has the meaning ascribed to such term in the MWE Partnership Agreement.

Examples of Class B-4 Unit in a sentence

For greater certainty, the Members agree that upon the conversion of the Company into a corporation (whether accomplished by merger, conversion or other means) in order to consummate a Qualified Public Offering, each Class A Unit and each Class B-4 Unit shall be treated equally in such conversion for all purposes and no Class A Units or Class B-4 Units shall entitle the holder thereof to any preferential rights including, without limitation, to Distributions of Yield or Unpaid Yield.
For greater certainty, the Members agree that upon the conversion of the Company into a corporation in order to consummate a Qualified Public Offering, each Class A Unit and each Class B-4 Unit shall be treated equally in such conversion for all purposes and no Class A Units or Class B-4 Units shall entitle the holder thereof to any preferential rights including, without limitation, to Distributions of Yield or Unpaid Yield.
Each Outstanding Class B-1 Unit, Class B-2 Unit, Class B-3 Unit, Class B-4 Unit and Class B-5 Unit shall automatically convert into a number of Common Units equal to the Conversion Number on the applicable Class B Conversion Date without any further action by the holders thereof.

Class B-4 Unit has the meaning set forth in the LLC Agreement. --------------