Class G Unit definition

Class G Unit means a Unit representing a fractional part of the Partnership Interests of all Limited Partners and Assignees and of the General Partner (exclusive of its interest as holder of the general partner interest and the Incentive Distribution Rights) and having the rights and obligations specified with respect to Class G Units in this Agreement.

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Class G Unit. The Partnership Interest held by the Class G Limited Partner, each full Class G Unit representing a $100,000 Capital Contribution.

Class G Unit means a Class G Unit as defined in the LLC Agreement.

Examples of Class G Unit in a sentence

With respect to any matter on which the Class G Units are entitled to vote, each Class G Unit will be entitled to one vote on such matter.
Subject to Section 2.4, each Class G Unit (as defined herein) issued and outstanding as of immediately prior to the Effective Time shall be converted into a unit representing a limited partner interest in SXL (an “SXL Class G Unit”), which constitutes a share of a new class of units in SXL containing provisions substantially equivalent to the provisions set forth in Section 5.11 of the ETP Partnership Agreement, all as set forth in the Amended SXL Partnership Agreement.
The initial capital account with respect to each Class G Unit will be determined in accordance with Section 5.5(a).
The initial capital account with respect to each Class G Unit will be equal to the capital account of the Class F Unit retired on the date of the issuance of the corresponding Class G Unit.
In addition, in the event any share of Class G Common Stock is converted by its terms into one or more shares of Class A Common Stock, one Class G Unit shall automatically, without any action by the part of any party hereto, be cancelled, and the Company shall issue to PubCo a number of Common Units equal to the number of shares of Class A Common Stock issued by PubCo in connection with such conversion.
The initial capital account with respect to each Class G Unit was determined in accordance with Section 5.4(a).
In the event any share of Class G Common Stock is cancelled by its terms, one Class G Unit shall automatically, without any action on the part of any party hereto, be cancelled.
Each Class G Unit will be entitled to one vote on each matter with respect to which such Class G Unit is entitled to be voted.
Concurrently with the Effective Date and conditioned upon execution by the Executive of that certain Senior Management Class G Unit Subscription Agreement (the “Subscription Agreement”), Holdings shall issue to the Executive 2,000 Class G units of Holdings for an aggregate purchase price of $200,000, subject to the terms, rights and obligations set forth in the Subscription Agreement and Holdings’ limited liability company agreement previously delivered to the Executive (the “Units”).
A Class G Unit that has converted into a Common Unit shall be subject to the provisions of Section 6.7(b) of the Partnership Agreement as if the Class G Unit was a Subordinated Unit.

More Definitions of Class G Unit

Class G Unit means a limited liability company interest in the Company, designated herein as a “Class G Unit”.

Class G Unit. Section 5.4 of the Partnership Agreement is hereby amended by deleting in its entirety the fourth sentence regarding the Capital Accounts of the Class G Units, the Class E Units, and the Class K Units as of the Effective Time.

Class G Unit means a Class G Unit of the Trust.

Class G Unit. A Unit for any persons who the General Partner determines in its sole discretion qualify as Eligible Investors associated with CVC (which may include certain CVC Personnel). Eligible Investor means prospective investors who are permitted to acquire the Units under the laws applicable to him/her/it in his/her/its relevant jurisdiction and provided that such prospective investor is not a Prohibited Person (as defined herein). CVC Personnel means any CVC Entity and/or (1) any current or former CVC Executive; (2) any relative (being a spouse, former spouse, brother, sister, lineal descendant or lineal ascendant) of any current or former CVC Executive; (3) the trustee of any trust, the main beneficiary or beneficiaries of which are persons described in (1) and/or (2); and/or (4) any company or arrangement creating rights in the nature of ownership or co-ownership the principal interest in which is held for persons described in (1), (2) and/or (3).

Class G Unit means a fractional part of the Partnership interest of the Class G Unitholders having the rights and obligations specified in this Agreement with respect to Class G Units outstanding from time to time.