Class C Common Units definition

Class C Common Units means a Common Unit which is designated as a “Class C Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

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Class C Common Units means the Company's Class C Common Units (as such term is defined in the LLC Agreement).

Class C Common Units has the meaning given such term in the LLC Agreement.

Examples of Class C Common Units in a sentence

• For the avoidance of doubt, no unrealized loss or Net Loss shall be allocated with respect to a Class B Common Unit or a Class C Common Unit prior to the conversion of such Class B Common Unit or Class C Common Units into a regular Common Unit.

• If Class B Common Units and/or Class C Common Units have not converted into regular Common Units prior to the liquidation of the Partnership, the Partnership shall also allocate specially items of gross taxable income and gain derived in connection with such liquidation to the holders of Class B Common Units and Class C Common Units until Capital Account Alignment has been achieved.

• The approval of a majority of the Class C Common Units shall be required to approve any matter for which the holders of the Class C Common Units are entitled to vote as a separate class.

• The Redemption Right provided to the holders of Class C Common Unit under Section 8.6 shall not apply with respect to Vested LTIP Units unless and until they are converted to Class C Common Units as provided in Section 4.7.

• The following shall be “Adjustment Events”: (A) the Partnership makes a distribution on all outstanding Class C Common Units in Partnership Units, (B) the Partnership subdivides the outstanding Class C Common Units into a greater number of units or combines the outstanding Class C Common Units into a smaller number of units, or (C) the Partnership issues any Partnership Units in exchange for its outstanding Class C Common Units by way of a reclassification or recapitalization of its Class C Common Units.

More Definitions of Class C Common Units

Class C Common Units means any Unit denominated "Class C Common."

Class C Common Units means Units designated as “Class C Common” Units pursuant to this Agreement.

Class C Common Units means any Unit denominated "Class C

Class C Common Units means the units of limited partnership interest issued on August 7, 2003, in connection with the consummation of the transactions set forth in the Contribution and Conveyance Agreement, dated August 7, 2003, between the Partnership and 1055 Stamford Associates Limited Partnership.

Class C Common Units and "Class D Common Units". Except as expressly provided in this Agreement to the contrary, (a) any reference to "Units" shall include the Class A Units, Class B Units, Class C Units and Class D Units and any other Classes of Units that may be established pursuant to Section 3.6 and (b) any reference to "Members" shall include the Class A Members, Class B Members, Class C Members and Class D Members and any other Member holding any other Class of Units. At the Closing, Class A Units will be issued to one or more OP Unitholders to the extent any such OP Unitholder elects to receive Class A Units (in lieu of Class B Units or Common Cash Consideration), as further provided in Section 3.3. At the Closing, Class B Units will be issued to (i) the West▇▇▇▇▇ ▇▇▇bers, Alter Member and Biederman Member in exchange for their Initial Capital Contributions made pursuant to Section 6.1(a) as set forth in Article II of the Contribution Agreement, as further provided in Section 3.4(a) and (ii) one or more OP Unitholders to the extent any such OP Unitholder elects to receive Class B Units (in lieu of Class A Units or Common Cash Consideration), as further provided in Section 3.4(b). Class B Units will also be issued to the Funding Members as provided in Section 3.4(c) to the extent such Funding Members make any Additional Capital Contributions to the Company as provided in Section 6.1(b). At the Closing, Class C Units and Class D Units, which represent limited rights as provided in Section 3.5(a), will be issued to the Initial Members as further provided in Section 3.5(b), subject to the transfer of such Units pursuant to Section 3.5(b) or the assignment of such Units pursuant to Section 6.4(g).

Class C Common Units means the Class C Units on the terms set forth on Exhibit A attached hereto.

Class C Common Units has the meaning ascribed to it in the Elk Hills Power Agreements.