Class C Fraction definition
Class C Fraction means the lesser of (A) one and (B) a fraction, the numerator of which is the number of Class C Units outstanding at the date of any such determination and the denominator of which is the number of Class C Units outstanding on the date of the Initial Capital Contribution after giving effect to the Initial Capital Contribution, as each of the numerator and denominator may be adjusted in the event of a recapitalization, split, dividend, or other reclassification affecting the Class C Units.
Class C Fraction means, with respect to a holder of shares of a Class C Series, at the time of determination thereof, a fraction, the numerator of which is the number of shares of such Class C Series held by such holder and the denominator of which is the total number of shares of such Class C Series (in each case, immediately prior to the applicable conversion) issued and outstanding at such date.
Class C Fraction means, as of any date of determination, the lesser of (A) one and (B) a fraction, the numerator of which is the number of Class C Units outstanding at the date of any such determination (provided that, as to any portion of a distribution in which a particular Class C Unit does not participate, by reason of the proviso to Section 4.1(d), relating to the Floor Amount for that Class C Unit, such Class C Unit shall not be considered to be outstanding for this purpose) and the denominator of which is the number of Class C Units authorized at the date of any such determination, as each of the numerator and denominator may be adjusted in the event of a recapitalization, split, dividend or other reclassification affecting the Class C Units.
More Definitions of Class C Fraction
Class C Fraction means the lesser of (A) one and (B) a fraction, the numerator of which is the number of Class C Units outstanding at the date of any such determination and the denominator of which is the number of Class C Units outstanding on the date of the Initial Capital Contribution after giving effect to the Initial Capital Contribution (i.e., 100,000), as each of the numerator and denominator may be adjusted in the event of a recapitalization, split, dividend, or other reclassification affecting the Class C Units.