Underlying Unit

Underlying Unit. As applicable, (a) prior to, and except in connection with, an IPO in which the Class B Units (or their equivalent as provided in the following clauses (i)-(v)) are offered, a Class C Non-Voting Unit, or (b) upon and after the consummation of an IPO or in connection with an IPO, in each case, in which the Class B Units (or their equivalent as provided in the following clauses (i)-(v)) are offered, (i) a Class B Unit, (ii) the common stock or other equity securities for which a Class B Unit has... been converted or exchanged of a successor corporation or other entity into which the Company is converted or merged, (iii) the common stock or other equity securities of a corporation or other entity otherwise formed by the Company or the Members for the purpose of offering securities to the public that are issued or issuable for a Class B Unit, or the rights to receive, or the securities that are convertible into, or exchangeable or exercisable for, common stock or other equity securities of a corporation or other entity otherwise formed by the Company or the Members for the purpose of offering securities to the public that are issued or issuable for a Class B Unit, (iv) the common stock or other equity securities of a Person that has control of the Company, a Subsidiary or other entity to which assets of the Company and/or the Subsidiaries have been transferred, in each case, whose securities the Company has determined to offer to the public and that are issued or issuable for a Class B Unit, or (v) the Units for which a Class B Unit is exchangeable View More