Class B Conversion Common Units definition
Class B Conversion Common Units means Common Units issuable upon conversion of Class B Preferred Units pursuant to Section 5.11(e)(i).
Class B Conversion Common Units means Common Units issuable upon conversion of Class B Preferred Units pursuant toSection 5.11(e)(i). “Class B Conversion Notice” has the meaning assigned to such term in Section 5.11(e)(ii).
Examples of Class B Conversion Common Units in a sentence
Each Class B Preferred Unit shall, upon its Class B Change of Control Conversion Date, be deemed to be transferred to, and cancelled by, the Partnership in exchange for the issuance of the Class B Conversion Common Units.
However, the participating Class B Preferred Holder shall pay any tax or duty that may be payable relating to any transfer involving the issuance or delivery of Class B Conversion Common Units in a name other than such Class B Preferred Holder’s name.