Class B Non-Voting Units definition
Examples of Class B Non-Voting Units in a sentence
On the Closing Date, Growth Partners shall admit (to the extent not already a member) each of CAC, CEC (if applicable), HIE Holdings and BondCo as a member thereof, and shall effect the appropriate recordation in the Growth Partners Operating Agreement and any other applicable books and records of Growth Partners to evidence the issuance to each of CAC, CEC (if applicable), HIE Holdings and BondCo of the respective Class A Voting Units or Class B Non-Voting Units, as applicable, as set forth above.
If all of HIE Holdings’ objections are resolved by the Parties, Growth Partners shall within five (5) Business Days thereafter issue to HIE Holdings additional Class B Non-Voting Units (by reflection on Growth Partners’ books and records) equal to the sum of the Initial Earn-Out Amount and the Agreed Earn-Out Adjustments in accordance with the Growth Partners Operating Agreement.
Blue Mountain Midstream LLC Delaware Delaware Oklahoma Texas Kansas 2261444 Authorized—Unlimited Class A Voting Units and 32,500 Class B Non-Voting Units Issued—667,500 Class A Units to Linn Energy Holdco II LLC None None.
The Units initially issued to the Managing Member on the Effective Date shall be Class A Voting Units, and the Units initially issued to Holdings on the Effective Date shall be Class B Non-Voting Units.
Subscriber subscribes for and agrees to purchase from the Company Class B Non-Voting Unit(s) in the Company ("Unit(s)"), as such is defined in the Operating Agreement, which is attached as Exhibit A to this Agreement.
All action on the part of the Company and its Managing Members, officers and members necessary for the authorization, execution and delivery of the Agreements by the Company, the transfer of the 10% Membership Interest to Buyer, the conversion of the Class B Non-Voting Units to Class A Voting Units, the admission of Buyer as a member of the Company, and the performance of all of the Company’s obligations under the Agreements has been taken or will be taken prior to Closing.
Upon Closing, ▇▇▇▇▇ will own an additional 10% of the outstanding membership interests of the Company and the existing 10% membership interests currently owned by Buyer, which interest is, comprised of Class A Voting Units representing 4.96% of the aggregate Membership Interests of the Company and Class B Non-Voting Units representing 5.04% of the aggregate Membership Interests of the Company.
Upon Closing, Buyer will own 10% of the outstanding membership interests of the Company comprised of Class A Voting Units representing 4.96% of the aggregate Membership Interests of the Company and Class B Non-Voting Units representing 5.04% of the aggregate Membership Interests of the Company.
At Closing the Class B Non-Voting Units shall be converted into Class A Voting Units.
In return for the contribution of the Assets to SLE by HPS, SLE shall issue, transfer and assign to HPS (i) six (6) of SLE’s Class A Voting Units (“Class A Units”) and (ii) eight hundred and four (804) of SLE’s Class B Non-Voting Units (“Class B Units”).