If the Phase 1 Option is not exercised by the Purchasers by written notice to the Company (the “Phase 1 Notice”) specifying the number of P1 Units to be purchased within 15 days following the Phase 1 Option Commencement Date, the Parties agree that this Agreement shall terminate.
Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.
Membership Units means membership interests in the Company.
Restricted Units means that number of restricted units listed in the Award Letter as “Awards Granted.”
Common Units is defined in the Partnership Agreement.
Class B Units means the Units having the privileges, preference, duties, liabilities, obligations and rights specified with respect to “Class B Units” in this Agreement.