Examples of Series A-1 Units in a sentence
Upon consummation of any Sale Transfer and payment of all amounts owed (if any) by the transferring Series A-1 Member to the Series B Members in accordance with Section 4.3, Section 4.4 and any related provisions of this Agreement, the Series A-1 Units transferred to the transferee in such Sale Transfer shall immediately be reclassified into an equivalent number of Series A-2 Units.
The Series A-1 Units sold to MSI by Magnum Hunter were converted into Series A-2 Units upon receipt by MSI on a one-for-one basis, as provided in the Transaction Agreement and the New LLC Agreement.
No Transfer of any Series A-1 Units by a Series A-1 Member to a Permitted Transferee shall effect a release of the transferring Series A-1 Member’s obligations under this Agreement to the Series B Members, and as a condition to such Transfer, each such Permitted Transferee shall expressly assume in writing all of the obligations of the transferring Series A-1 Member, whether arising prior to, on or after the date of Transfer, to the Series B Members.
For each CapEx Contribution made by a Funding Member to the Company, the Company shall issue to such Funding Member a number of Class A Common Units equal to the amount of such CapEx Contribution made by such Funding Member divided by $[REDACTED]*; provided, that, the Series A-1 Members making such CapEx Contribution shall receive Series A-1 Units and the Series A-2 Members making such CapEx Contribution shall receive Series A-2 Units.
The Schedule of Members sets forth the identity of all of the Series A-1 Members and the number of Series A-1 Units held by each Series A-1 Member.
Any exchange of Series A-1 Units pursuant to this Section 7.10 shall be treated as a transfer of Units governed by Section 3.3(b).
Magnum Hunter made a $20.0 million capital contribution in cash to the Company in exchange for additional Series A-1 Units.
Other than with respect to the rights of Series B Members to share in distributions that otherwise would be made to Series A-1 Members on account of their Series A-1 Units, the Series A-1 Units shall rank pari passu with, and have all the same rights (including the rights to share in Net Income and Net Loss or items thereof) and be subject to all of the same obligations, as the Series A-2 Units and the Series C Units.
Following the IPO, upon the Exchange contemplated by the Exchange Election, the Series A-1 Units covered by such Exchange Election shall be exchanged for Exchange Shares pursuant to the Exchange Agreement and, in connection with such Exchange, reclassified as Series C Units.
Further, the Parties shall determine the final number of New Laredo Preferred Units to be authorized, issued and outstanding and set forth in the Amended LLC Agreement as an amount equal to (i) (A) the aggregate amount of Series A-1 Units and Series A-2 Units outstanding as of the Closing divided by (B) the LP Allocation (as such term is defined in the Amended LLC Agreement) times (ii) the BOE Allocation.