Common use of Initial Issuance; Additional Shares Clause in Contracts

Initial Issuance; Additional Shares. The Series A Preferred Shares shall consist of 3,450,000 Series A Preferred Shares as of September 12, 2019. The number of authorized Series A Preferred Shares may from time to time, without the consent or approval of holders of the Series A Preferred Shares, be increased (subject to Section 3.2(d) of the Operating Agreement) or decreased (but not below the number of Series A Preferred Shares then Outstanding) by the Board of Directors. The Company may, from time to time, without the consent or approval of holders of the Series A Preferred Shares, issue additional Series A Preferred Shares in accordance with Section 3.2(c) of the Operating Agreement; provided that, if the additional Series A Preferred Shares are not fungible for U.S. federal income tax purposes with the Series A Preferred Shares issued on September 12, 2019, the additional shares shall be issued under a separate CUSIP number. If the Company issues additional Series A Preferred Shares, distributions on those additional Series A Preferred Shares will accrue from the most recent Distribution Payment Date prior to the issuance of such additional Series A Preferred Shares at the then-applicable distribution rate.

Initial Issuance; Additional Shares. The Series A B Preferred Shares shall consist of 3,450,000 4,600,000 Series A B Preferred Shares as of September 12November 27, 2019. The number of authorized Series A B Preferred Shares may from time to time, without the consent or approval of holders of the Series A B Preferred Shares, be increased (subject to Section 3.2(d) of the Operating Agreement) or decreased (but not below the number of Series A B Preferred Shares then Outstanding) by the Board of Directors. The Company may, from time to time, without the consent or approval of holders of the Series A B Preferred Shares, issue additional Series A B Preferred Shares in accordance with Section 3.2(c) of the Operating Agreement; provided that, if the additional Series A B Preferred Shares are not fungible for U.S. federal income tax purposes with the Series A B Preferred Shares issued on September 12November 27, 2019, the additional shares shall be issued under a separate CUSIP number. If the Company issues additional Series A B Preferred Shares, distributions on those additional Series A B Preferred Shares will accrue from the most recent Distribution Payment Date prior to the issuance of such additional Series A B Preferred Shares at the then-applicable distribution rate.

Initial Issuance; Additional Shares. The Series A C Preferred Shares shall consist of 3,450,000 4,200,000 Series A C Preferred Shares as of September 12March 25, 20192021. The number of authorized Series A C Preferred Shares may from time to time, without the consent or approval of holders of the Series A C Preferred Shares, be increased (subject to Section 3.2(d) of the Operating Agreement) or decreased (but not below the number of Series A C Preferred Shares then Outstanding) by the Board of Directors. The Company may, from time to time, without the consent or approval of holders of the Series A C Preferred Shares, issue additional Series A C Preferred Shares in accordance with Section 3.2(c) of the Operating Agreement; provided that, if the additional Series A C Preferred Shares are not fungible for U.S. federal income tax purposes with the Series A C Preferred Shares issued on September 12March 25, 20192021, the additional shares shall be issued under a separate CUSIP number. If the Company issues additional Series A C Preferred Shares, distributions on those additional Series A C Preferred Shares will accrue from the most recent Distribution Payment Date prior to the issuance of such additional Series A C Preferred Shares at the then-applicable distribution rateDistribution Rate.