Class B Units definition
Examples of Class B Units in a sentence
Class B Units shall be non-voting and will be eligible for a one-time 15% Preferred Return Percentage.
Class B Units have been issued by the Company to those investors who assumed an investment risk in the Company ahead of the Company achieving its mission to acquire control of Renoun at a Unit Price of $.90 as specified in Schedule II and who have signed a Class B Member Subscription Agreement.
The Company is authorized to issue up to 1,000 units designated as "Class A Units", 750,000 units designated as “Class A1 Units”, 333,335 units designated as "Class B Units", 2,000,000 units designated as "Class C Units”, and 3,000,000 units designated as "Class D Units", 2,000,000 units designated as "Class E Units", and 1,000,000 units designated as "Class E1 Units".
Profits associated with Class B Units will be subject to the Carried Interest Allocation payable to Class A Members set as 15% for Class B Members.
The Company issued to each Person listed on Schedule II the number of Class B Units set forth opposite such Person’s name on Schedule II.