Class L Interest definition
Examples of Class L Interest in a sentence
On all matters requiring a vote of the Class L Interests, each Holder of Class L Interests shall be entitled to one (1) vote for each Class L Interest held by such holder on the record date fixed for such meeting, or on the effective date of such written consent.
In recognition of this fact, Executive agrees that, in the event of such a breach, in addition to any remedies at law or equity, the Class L Interest shall be immediately cancelled without any additional consideration on the date of any such breach, and Executive shall not be entitled to any distribution contemplated by Section 3.
For the avoidance of doubt, Executive shall have no right to exchange any Class L Interest.
Executive may not Transfer, directly or indirectly, all or any portion of a Class L Interest, or any rights therein (economic or otherwise), to any other Person except in accordance with the Partnership Agreement.
For the avoidance of doubt, the General Partner may, in its sole discretion, determine that the Class L Interest shall not receive any distribution pursuant to this Agreement.
The parties hereto acknowledge and agree that the provisions of the Partnership Agreement apply to the distribution of the Class L Interest and that, upon distribution, as applicable, the Class L Interest will be subject to the terms, conditions, rights and obligations contained in the Partnership Agreement.
Executive has been advised that the Class L Interest is subject to restrictions upon transfer as set forth in the Partnership Agreement.
Except as otherwise provided herein, the Class L Interest shall be subject, in all respects, to the terms and conditions of the Partnership Agreement.
Executive is not obligated (now or in the future) to make any Capital Contribution to the Partnership on account of the Class L Interest.