Class B Unit definition

Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

Class B Unit means a Partnership Unit that is specifically designated by the General Partner as being a Class B Unit.

Class B Unit means a Unit representing a fractional part of the interest of a Unitholder in Profits, Losses and Distributions and having the rights and obligations specified with respect to the Class B Units in this Agreement.

Examples of Class B Unit in a sentence

• It is the intent of the Company that, upon issuance of each Class B Unit or other class of Unit owned by Management Holdco, a corresponding Management Holdco Class B Unit or such other class of Unit (the “Corresponding Management Holdco Unit”) shall be issued by Management Holdco.

• Notwithstanding anything to the contrary in this Agreement, in the event of a conflict between any term or provision contained herein and a term or provision of any Applicable Class B Unit Agreement or the Management Holdco Operating Agreement, the Board acting in good faith shall be entitled to resolve such conflict.

• Furthermore, it is the intent of the Company that, upon the forfeiture, repurchase or other termination of any Corresponding Management Holdco Unit, the Company will cancel the corresponding Class B Unit issued to the Management Holdco in respect of such Corresponding Management Holdco Unit.

• It is the intention of the parties to this Agreement that each Class B Unit and each corresponding Management Holdco Class B Unit constitutes a Profits Interest.

More Definitions of Class B Unit

Class B Unit 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 Units in this Agreement and the Class B Restricted Unit Agreement pursuant to which it was issued.

Class B Unit means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners, and having the rights and obligations specified with respect to Class B Units in this Agreement. The term “Class B Unit” as used herein does not include a Common Unit, Subordinated Unit or Parity Unit. A Class B Unit that is convertible into a Common Unit shall not constitute a Common Unit until such conversion occurs. The term “Class B Unit” includes the Privately Placed Class B Units and the Sponsor Class B Units.

Class B Unit means a unit representing a Class B Interest having the rights, preferences and designations provided for such class in this Agreement.

Class B Unit means a Unit having the rights and obligations specified with respect to Class B Units in this Agreement. The Class B Units are Non-voting Units.

Class B Unit means a Class B Unit of the Company.

Class B Unit does not refer to a Common Unit until such Class B Unit has converted into a Common Unit pursuant to the terms hereof.

Class B Unit means a Unit in the Company that is a common unit designated as a “Class B Unit.”