Class U Units definition
Examples of Class U Units in a sentence
Original Canadian purchasers of Convertible Units (“Original Purchasers”) will have a contractual right of rescission against the Fund following the issuance of the Class A Units, Class U Units, Class D Units or Class E Units, as applicable, to such Original Purchasers upon the conversion of the Convertible Units.
All of the Partnership Units issued by the Partnership prior to the Amendment Effective Date are classified as “Common Units.” All Partnership Units issued after the Amendment Effective Date will be designated as Common Units, Class U Units or Partnership Units of any future class established by the General Partner.
Each Unitholder is entitled to one vote for each Unit held and votes of Unitholders will be conducted with holders of Class A Units, Class C Units, Class D Units, Class E Units, Class F Units, Class H Units and Class U Units voting together as a single class.
Any fractional amounts will be rounded down to the nearest whole number of Class A Units, Class U Units, Class D Units or Class E Units, as applicable.
Except as provided in Section 2.1 of this Amendment, the Class U Units have all of the same rights, titles, interests, privileges and estates associated with the Common Units, including the Redemption Right and voting rights granted to the holders of Common Units by the General Partner in respect to matters presented to the shareholders of the General Partner for vote.