Class M Unit definition

Class M Unit means a Partnership Unit, as that term is defined in the limited partnership agreement of the Operating Partnership, entitling the holder thereof to the rights of a holder of a Class M Unit as provided in the limited partnership agreement of the Operating Partnership, and the Class M Units correspond with the Class A Shares.

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Class M Unit means a Unit in the Limited Partnership designated as a Class M Unit, having the rights, privileges, restrictions and conditions set out in the LP Agreement which are summarized in Section 4.1.2 of the JKDA.

Class M Unit means a Class M Unit of the Trust and includes a fraction of a Class M Unit of the Trust.

Examples of Class M Unit in a sentence

• With respect to any matter on which the Class M Units are entitled to vote, each Class M Unit will be entitled to one vote on such matter.

• The initial capital account with respect to each Class M Unit will be equal to the purchase price as set forth in the Contribution and Assumption Agreement, divided by the number of Class M Units issued to ETP Holdco.

• For purposes of determining the Class M Economic Capital Account Balance attributable to an Unrestricted Class M Unit, allocations pursuant to subparagraph 1(c)(ii) of Exhibit B shall be made in such a manner so as to allow the greatest number of Class M Units to convert pursuant to this Section 15.4 at any time.

• If a holder of Class M Units fails to make such an election, such holder (and any of its transferees) shall receive upon conversion of each Class M Unit held by him, her or it (or by any of his, her or its transferees) the same kind and amount of consideration that a holder of an OP Unit would receive if such OP Unit holder failed to make such an election.

• If a holder of Class M Units fails to make such an election, such holder (and any of its transferees) shall receive upon conversion of each Class M Unit held by him, her or it (or by any of his, her or its transferees) the same kind and amount of consideration that a holder of a Class A Unit would receive if such Class A Unit holder failed to make such an election.

More Definitions of Class M Unit

Class M Unit means a Partnership Unit entitling the holder thereof to the rights of a holder of a Class M Unit as provided in this Agreement.

Class M Unit means a Class M-1 Unit or a Class M-2 Unit, or the Class M-1 Units and Class M-2 Units collectively, as the context requires.

Class M Unit means each unit in the Company that is designated as a Class M Common Unit pursuant to the LLC Agreement.

Class M Unit means a Class M Common Unit, as defined in the LLC Agreement.

Class M Unit means a unit of membership (ownership) in the Company held by a Class M Member as set forth on Exhibit A.

Class M Unit means a Unit representing a fractional part of the Company Interests of the Unitholders and having the rights and obligations specified with respect to the Class M Units in this Agreement.

Class M Unit means a unit of beneficial interest in the Trust designated as Class M units.