Series Interests of Series Two Sample Clauses

Series Interests of Series Two. Series Two is hereby authorized to issue Interests in a single class designated as “Series Two Interests” (the “Series Two Interests”) with respect to Series Two. The Series Two Interests shall have the respective rights, powers, preferences, duties and limitations as are set forth in this Agreement with respect thereto. The Series Two Interests are associated with and issued solely by Series Two. As of the Initial Property Closing Date, the Members shall hold Series Two Interests representing the Series Two Percentage Interest set forth opposite their names on the Schedule of Series Members as of such date, a copy of which will be maintained by the Manager in the books and records of Series Two, subject to such Member’s having made its initial Capital Contribution to Series Two, as required by the Contribution Agreement or its Subscription Agreement, as applicable, subject to the terms hereof and thereof. Notwithstanding the foregoing, each Member executing this Agreement as of the Effective Date shall be a Member of the Company from and after the Effective Date, subject to the terms hereof. Each Series Two Member shall have (A) a right to a distributive share of Net Income, Net Losses, and other items of income, gain, loss, deduction, and credits only in respect of Series Two, as provided in this Agreement, (B) a right to the Capital Account only in respect of Series Two maintained for such Member according to Article VII, and (C) the right to receive distributions only from Series Two, as provided in Article VIII of this Agreement. Each Series Two Member shall be entitled to vote such Series Two Interests in accordance with such Member’s Series Two Percentage Interest only on such matters set forth in Section 9.3, in accordance with the terms hereof.
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Related to Series Interests of Series Two

  • Requirements of Series Supplement Such other funds, accounts, documents, certificates, agreements, instruments or opinions as may be required by the terms of the Series Supplement.

  • Rights; Interests; Etc (a) So long as no Event of Default (as hereinafter defined) shall have occurred and be continuing:

  • Certificates Issuable in Classes; Distributions of Principal and Interest; Authorized Denominations The aggregate principal amount of the Certificates that may be authenticated and delivered under this Agreement is limited to the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date, as specified in the Preliminary Statement to this Agreement, except for Certificates authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Certificates pursuant to Section 5.03. Such aggregate principal amount shall be allocated among one or more Classes having designations, types of interests, initial per annum Certificate Interest Rates, initial Class Principal Balances and Final Maturity Dates as specified in the Preliminary Statement to this Agreement. The aggregate Percentage Interest of each Class of Certificates of which the Class Principal Balance equals zero as of the Cut-Off Date that may be authenticated and delivered under this Agreement is limited to 100%. Certificates shall be issued in Authorized Denominations.

  • Redemption of Partnership Interests of Ineligible Holders (a) If at any time a Limited Partner fails to furnish an Eligibility Certificate or any other information requested within the period of time specified in Section 4.9, or if upon receipt of such Eligibility Certificate or other information the General Partner determines, with the advice of counsel, that a Limited Partner is an Ineligible Holder, the Partnership may, unless the Limited Partner establishes to the satisfaction of the General Partner that such Limited Partner is not an Ineligible Holder or has transferred his Limited Partner Interests to a Person who is not an Ineligible Holder and who furnishes an Eligibility Certificate to the General Partner prior to the date fixed for redemption as provided below, redeem the Limited Partner Interest of such Limited Partner as follows:

  • Trust Issuance of Series Shares The delivery of Series shares shall be made promptly by a credit to a shareholder's open account for the Series or by delivery of a share certificate. The Trust reserves the right (a) to issue Series shares at any time directly to the shareholders of the Series as a stock dividend or stock split, (b) to issue to such shareholders shares of the Series, or rights to subscribe to shares of the Series, as all or part of any dividend that may be distributed to shareholders of the Series or as all or part of any optional or alternative dividend that may be distributed to shareholders of the Series, and (c) to sell Series shares in accordance with the current applicable prospectus of the Trust relating to the Series shares.

  • Elimination of Series At any time that there are no Shares outstanding of a Series (or class), the Trustees may abolish such Series (or class).

  • Residual Interest and Transfer of Interests 6 Section 3.1. The Residual Interest. 6

  • Issuance of Series of Shares If the Fund shall at any time issue shares in more than one series, this Agreement may be adopted, amended, continued or renewed with respect to a series as provided herein, notwithstanding that such adoption, amendment, continuance or renewal has not been effected with respect to any one or more other series of the Fund.

  • Distributions on the REMIC Interests On each Distribution Date, amounts on deposit in the Certificate Account shall be treated for federal income tax purposes as applied to distributions on the interests in the Lower Tier REMIC in an amount sufficient to make the distributions on the respective Certificates on such Distribution Date in accordance with the provisions of Section 4.04.

  • Series KKP No 11 and 1989 February 15, 1990 Series BP February 15, 1990................. 1990 Series A, 1990 Series November 1, 1990 B, 1990 Series C, 1990 Series D, 1990 Series E and 1990 Series F November 1, 1990..................

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