Examples of Nonvoting Units in a sentence

A CT's ownership of Nonvoting Units will not constitute a violation of the prohibition against ownership of excess business holdings under section 4943 of the Code because the Company is not a “business enterprise” within the meaning of section 4943(d)(3).
Because the CT's Nonvoting Units do not constitute interests in a business enterprise, the CT's Nonvoting Units will not constitute “excess business holdings” under section 4943 of the Code.
Moreover, they found that firms with higher rates of SCHIP eligibility among employees’ dependents had lower take-up of employer coverage overall, as well as lower take- up of family coverage.
As a holder of Nonvoting Units, the CT would have a right to receive distributions only if the Company dissolves or chooses to make distributions, but the timing and amount of such distributions would be uncertain, and could not be compelled by the CT.
The CT would acquire Nonvoting Units in the Company by gift, rather than through a self-dealing transaction.

More Definitions of Nonvoting Units

Nonvoting Units and the Nonvoting Members shall not, however, be deemed to be or treated as, respectively, Voting Units and Voting Members notwithstanding the occurrence of a Special Circumstance, and shall in all events continue to be treated as Nonvoting Units and Nonvoting Members with respect to (i) the payment of the Return Amounts to the Nonvoting Members as provided in Section 6.6 below; (ii) the allocation of Net Profits and Net Losses under Section 7.1 below; (iii) distributions under Sections 7.2 and 10.2 below; and (iv) the sale and purchase of the Nonvoting Units as provided in Section 8.4 below. The Nonvoting Members shall not otherwise participate in the management of the Company, and, as provided above, shall in all events have no right to participate in the management of the Company (whether with respect to Special Voting Matters or in the event of the occurrence of any Special Circumstance) at any time after the Return Date. Nonvoting Members are also not in any event agents of the Company for the purpose of its business or affairs or otherwise.

Nonvoting Units means the Class A-1 Units, the Class B Units, the Class C Units and the Class D Units. “Notice” has the meaning set forth in Section 9.6(a).

Nonvoting Units means all of the Units of the Company which are not Voting Units. "Permanent Disability" means the inability of a Manager, due to a physical or mental condition, to perform his usual and customary duties as Manager for one hundred eighty (180) days during any twelve (12) month period. The determination of whether such Manager is permanently disabled for purposes of this Agreement shall be made by a licensed practicing physician selected by a Majority-in-Interest of the Members who are not then serving as Manager. In connection with such examination, the Manager consent to such examination for such purpose, agree to furnish any medical information requested by the examining physician and waive any applicable physician-client privilege that may arise because of such examination. Within thirty (30) days of his selection, the physician shall issue a written report to the Company regarding the Manager's condition. Such disability shall be deemed to commence on the date of such physician's report to the Company.

Nonvoting Units shall have the meaning set forth in the LLC Agreement.

Nonvoting Units. All Units granted pursuant to the Option Plan. Members who hold Nonvoting Units shall have no right with respect to such Units to vote or consent on any matter for which this Agreement provides or requires a vote or consents by Members with respect to any specified percentage, portion or number of Units or Voting Units.

Nonvoting Units means Units which entitle the holders thereof to Financial Rights but not Governance Rights.

Nonvoting Units shall have the meaning set forth in the Recitals to this Agreement.