Common Unit Cap definition
Common Unit Cap means $17,338,177 (as adjusted for any splits, subdivisions, combinations or the like).
Common Unit Cap means a number of Conversion Common Units equal to 19.9% of the Outstanding Common Units on the applicable Series A Conversion Date.
Examples of Common Unit Cap in a sentence
The time limits set forth in this Article may be extended by mutual agreement.
If, prior to obtaining Unitholder approval of the Series A Proposal in accordance with Section 5.12(b)(iii), the number of Common Units to be issued pursuant to a conversion in accordance with this Section 5.12(b)(viii) as set forth on any Series A Conversion Notice or Series A Forced Conversion Notice would exceed the Common Unit Cap, then the Company shall issue one Class B Unit to such Unitholder for each Common Unit to be issued upon conversion in excess of the Common Unit Cap.