Converted Units definition

Converted Units shall have the meaning set forth in Section 6.1(a).

Converted Units means “Class A Units” as defined in that certain Second Amended and Restated Operating Agreement, dated as of November 20, 2006, as amended, of SPP LLC.

Converted Units means the Common Units acquired by a Holder upon conversion of Class B Units pursuant to Section 5.10(b)(viii) of the Partnership Agreement.

Examples of Converted Units in a sentence

• Each Converting Partner and Non-Voluntary Converting Partner, as the case may be, covenants and agrees with the General Partner and the Partnership that all Converted Units shall be free and clear of all liens, claims and encumbrances whatsoever and should any such liens, claims and/or encumbrances exist or arise with respect to such Converted Units, neither the General Partner nor the Partnership shall be under any obligation to convert the same.

• Upon the Regular Vesting Date, the Restricted Period shall expire with respect to the Retirement Fraction of the Performance Share Units (or the Converted Units), and the Participant will immediately forfeit the remaining fraction of the unvested Performance Share Units (or the Converted Units) to the Company for no consideration.

• Notwithstanding the foregoing, the Performance Share Units, or, as applicable, the Converted Units may be settled at a different time in the circumstances set forth in Section 6(b) and Section 6(d) below, as well as in Section 2(b) of Exhibit A.

• Gross proceeds from the Converted Units were allocated between the Common Shares ($6,536,400) and the Warrants ($463,600), based on the fair value of the Common Shares at the date of the closing of the Convertible Debenture, with the residual value of the Converted Units allocated to the Warrants.

• Issue costs of $161,316 were allocated to the Converted Units, of which $151,034 were allocated to the Common Shares and $10,282 were allocated to the Warrants, based on their respective allocated proceeds.

More Definitions of Converted Units

Converted Units has the meaning set forth in Section 11.5(e).

Converted Units means shares of Class A Common Stock resulting from the exchange of LP Exchangeable Units into shares of Class A Common Stock pursuant to Section 11.2;

Converted Units means the number of Series A Preferred Membership Units outstanding times 1.34.

Converted Units means Class A Common Units that are converted into Class A Preferred Units pursuant to Section 9.06 when the first Class B Profits Unit is issued by the Company.

Converted Units means the Common Units acquired by a Holder upon conversion the Purchased Units pursuant to Section 5.10(b)(ix) of the Partnership Agreement.

Converted Units. Has the meaning set forth in Section 13. Delivery Date: A day that is both a trading day on the New York Stock Exchange and a banking day in the city in which the Company has its headquarters, falling as soon as practicable after the Vesting Date, as determined by the Company, unless otherwise specified in the Award Letter.

Converted Units has the meaning set forth in Section 3.1(b).