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.