Class G Units definition

Class G Units means the Units having the rights and obligations specified with respect to Class G Units in this Agreement.

Class G Units hall have the meaning given to such term in the Partnership Agreement. 1

Class G Units means the Class G Units of the Company. The rights and privileges associated with such Class G Units are intended to constitute a “profits interest” in the Company within the meaning of Revenue Procedure 93-27, 1993-2 C.B. 343, or any successor Internal Revenue Service or Treasury Department regulation or other pronouncement applicable at the date of issuance of Class G Units.

Examples of Class G Units in a sentence

• Upon a Class G Redemption by the Partnership, the Class G Limited Partner shall have no further right to receive any Partnership distributions in respect of the Class G Units so redeemed.

• The holders of Class G Units shall be allocated gross income such that, from the inception of the partnership through the end of the fiscal year to which the allocation relates, including the year of liquidation of the Partnership in accordance with Article X, the sum of all priority allocations pursuant to this Section 5.2(K) equals (or approaches as nearly as possible) the sum of all Class G Priority Return Amounts accrued through the end of the fiscal year to which the allocation relates.

• Unless and until the General Partner determines to assign the responsibility to another Person, the General Partner will act as the registrar and transfer agent for the Class G Units.

• Any Certificates relating to the Class G Units that may be issued will be in such form as the General Partner may approve.

• The Class G Units shall not have any voting rights, except to the extent the Delaware Act gives the Class G Units a vote as a class on any matter.

More Definitions of Class G Units

Class G Units shall have the meaning specified in Section 2.02.

Class G Units means the Class G Units of the Company.

Class G Units representing limited partner interests in ETP (“Class G Units”), Class H Units representing limited partner interests in ETP (“Class H Units”), the Incentive Distribution Rights (as defined in the ETP Partnership Agreement, “ETP IDRs”) and a general partner interest in ETP (“General Partner Interest”). As of April 25, 2014, the issued and outstanding limited partner interests and general partner interests of ETP consisted of (i) 8,853,832 Class E Units, (ii) 90,706,000 Class G Units, (iii) 50,106,000 Class H Units, (iv) 318,500,491 Common Units, (v) the ETP IDRs, and (vi) an approximate 1.0 % General Partner Interest. As of April 25, 2014, 6,800,000 Common Units were issuable pursuant to employee and director equity plans of ETP (the “ETP Equity Plans”), of which amount 3,143,023 Common Units were subject to outstanding awards under the ETP Equity Plans. All outstanding equity securities of ETP are duly authorized, validly issued, fully paid (to the extent required by the ETP Partnership Agreement) and nonassessable (except as such nonassessability may be affected by matters described in Sections 17-303, 17-607 and 17-804 of the Delaware LP Act) and free of preemptive rights (except as set forth in the ETP Partnership Agreement).

Class G Units means the Class G units of membership interest of Redfield.

Class G Units has the meaning specified in the Recitals hereto.

Class G Units means all Units that are designated as such pursuant to Section 2.2.

Class G Units shall have the meaning set forth in the preface.