Unit Classes. The Management Company may resolve to create one or more Classes of Units for any Sub-Fund as well as to terminate or consolidate existing Classes. The Classes may differ with respect to the application of income; distribution policy; subscription fees; redemption fees; denomination; currency hedging; remuneration for management; operations or other services; the minimum investment and minimum holding amount; distribution network; qualifying investors or other relevant differentiating terms / characteristics. As a result, due to the aforementioned differences in the terms / characteristics of a specific Class, the investment performance may vary across different Classes of a Sub-Fund despite that all Classes of such Sub-Fund feed into the same portfolio of assets. If a Class is issued in a currency different from the base currency of that Sub-Fund (as set out in Annex A), the Management Company may enter into currency hedging transactions to hedge against exchange rate fluctuations between such Class and the Sub-Fund. These hedging activities may cause both profit and loss, as the case may be. There can be no assurance that the currency hedging program will be entirely successful. The Management Company may terminate the currency hedging program. The profits and losses of such currency hedging will be allocated to the relevant Class. In setting up the Classes, the Management Company seeks to adhere to the following convention:
a. Class A Units are generally distributing units, while Classes B, C, I1 and IM are generally reinvesting units.
b. Subject to the decision of the Management Company in each particular case, Classes A and B are generally available to all eligible investors while Class I1 is generally reserved for either (a) institutional investors who invest directly or (b) private-law foundations, where such relevant foundation is investing indirectly on behalf of an institutional investor who is a beneficiary of such foundation or (c) foundations with a charitable purpose according to private-law in their country of incorporation.
c. Class C comprises retrocession-free units. Unless the Management Company determines otherwise in its sole discretion, Class C shall be open for investment by (i) institutional investors; (ii) clients of banks in the United Kingdom of Great Britain and Northern Ireland and in the Netherlands; (iii) clients of LGT Group companies after signing a client services agreement; (iv) investors that have entered into advisory o...
Unit Classes. The AIFM may create several unit classes within the AIF. At the discretion of the AIFM, unit classes may be created which differ from the existing unit classes by virtue of the way profit is appropriated, the issue commission, the accounting currency, the use of currency hedging transactions, the fund management remuneration, the minimum investment amount or any combination of these aspects. However, this shall be without prejudice to the rights of investors who have bought units in the existing unit classes. The unit classes and the costs and remunerations arising in connection with the AIF's units are specified in Annex B to the Trust Agreement, "AIF summary".
Unit Classes. (a) The Capital of the Partnership shall be divided into classes (“Class”) of Units. The initial classes of Units to be subscribed for will be known as “Class A Units” having the attributes as set out in Schedule “B” hereto. Thereafter Units will be issued in classes designated a Class and so on at the times, in the manner and on the terms as determined by the General Partner. The Classes may be further issued in series, the GP may determine the basis for creating and allocating series with the initial intent being to create series to differentiate Canadian dollar and United States dollar subscriptions.
(b) Units of each Class shall have the following characteristics in addition to those set out on Schedule “B” relating to that Class, and similarly as to Units in a series of a Class:
(i) each of the issued Units in a Class shall rank equally and shall have no preference or right over any other Unit of that Class;
(ii) the attributes, rights, benefits, entitlements, and votes attributed to all Units of a Class are identical on a per Unit basis for that Class.
(iii) each Unit (but not committed but unissued Units), will, for all purposes, represent a right to participate, in accordance with the terms of Article 6, in the revenue and distributions arising from the conduct of the Activity of the Partnership and in the costs, expenses, Net Profits, and Net Losses of the Activity of the Partnership, on an equal, pari passu, pro rata per Unit on a Class basis;
(iv) each of the Units will have a right to one vote for each Unit in respect of all matters to be decided by the Limited Partners; and
(v) the Units will be entitled to their rights of return and participation asset out in the relevant Offering Memorandum and related amended Schedule B hereto.
(vi) A Class may be divided into series(“Series”) with each Series having the characteristics set out in the Schedule A for that Class and as described in the relevant Offering Memorandum for the Class and Series offered.
(c) The General Partner may determine to have the Partnership issue further Units of the same or a different Class from time to time, and in series or not. Such Units in separate Class or a different series in a Class may be issued at a different price and may bear the right to distributions and entitlements that differ from the other Units, including the Units first issued.
(d) Limited Partners may subscribe for a class of Units if they are eligible to do so pursuant to applicable securities laws. ...
Unit Classes. The management company may resolve to create several unit classes within the UCITS. Pursuant to Art. 23 of the trust agreement of the UCITS, it is possible in the future to create unit classes that differ from existing unit classes with respect to the use of pro- ceeds, the issue commission, the reference currency and the deployment of currency hedging instruments, the management fee, the minimum amount to be invested, or a combination of these items. The rights of investors who purchased units assigned to ex- isting unit classes are not affected by the creation of new unit classes. The unit classes offered by the UCITS as well as the charges and reimbursements in- curred in conjunction with the units of the UCITS are indicated in Annex A “The UCITS at a glance.” Further information on the unit classes is provided in section 8.2.
Unit Classes. The AIFM may create several unit classes for the AIF resp. its subfunds. Unit classes may be created that differ from the existing unit classes in terms of the appropriation of earnings, the issue premium, the reference currency and the use of currency hedging transactions, the management remuneration, the minimum investment amount or a combination of these features. Nevertheless, the rights of the investors who have acquired units from existing unit classes shall remain unaffected. The unit classes launched in connection with the AIF resp. its subfunds as well as the fees and remuneration resulting in connection with the AIF units, are stated in respective Annex A „Subfund overview“. With the consent of the supervisory authority (FMA), the AIFM is entitled to split off illiquid asset elements and to include them in own segments (side pockets). This is the case if a significant share of the fund assets (more than 10%) can no longer be valued correctly in the long term or become unsellable. The unit holders receive shares in the side pocket in accordance with their holding in the original AIF. Trade in units must be suspended during the period of creating the side pockets. Following the creation of the side pocket, this segment will be placed in liquidation, and the liquidation proceeds will be distributed to the unit holders as soon as the securities contained therein are again capable of valuation or sellable. No units will be issued or redeemed in the side pockets created until the liquidation has been completed.
VI. General investment principles and restrictions
Unit Classes. The Management Company may resolve to form several unit classes within a sub-fund. Pursuant to Art. 26 of the Trust Agreement of the UCITS, unit classes may be established in future which differ from the existing unit classes in terms of the utilisation of profits, the reference currency and the utilisation of currency hedging transactions, the management remuneration, the minimum investment sum or a combination of these characteristics. The rights of the Investors who have acquired units in existing unit classes shall however remain unaffected. Any possible unit classes which are created in conjunction with each sub-fund, as well as the fees and remuneration associated with the units of the sub-fund, are specified in Appendix A "Overview of the sub-fund". Further information about the unit classes is set out in Fig. 9.2.
Unit Classes. Membership in the Company shall be represented by Units. There shall be two classes of Units: the "Class A Units" and the "Class B Units," each of which shall have identical rights (including the identical right to the Profits (or Losses), distributions and other economic attributes of the Company as set forth in Articles V and IX), preferences and designations, except as hereinafter provided below in this Section 3.2(a):
Unit Classes. Unit Class / Currency1 (USD) A (CHF) A (USD) B (CHF) B (USD) I1 (CHF) I1 (USD) C (CHF) C (USD) IM Minimum Additional Subscription 0.001 Unit 0.001 Unit 0.001 Unit 0.001 Unit 0.001 Unit Minimum Redemption 0.001 Unit 0.001 Unit 0.001 Unit 0.001 Unit 0.001 Unit Minimum Holding 1 Xxxx 0 Xxxx Xxxxxxxxxx of CHF 1 Mio, unless otherwise agreed with the Management Company 1 Unit 1 Unit Initial Subscription Day TBD 20 June – 30 June 2012 20 June – 30 June 2012 20 June – 30 June 2012 20 June – 30 June 2012 Initial Subscription Price USD 1,000.00 CHF 1,000.00 EUR 1,000.00 USD 1,000.00 CHF 1,000.00 EUR 1,000.00 GBP 1,000.00 USD 1,000.00 CHF 1,000.00 EUR 1,000.00 GBP 1,000.00 USD 1,000.00 CHF 1,000.00 EUR 1,000.00 GBP 1,000.00 USD 1,000.00 Valuation Day2 At least once a week on the first Business Day of the week, or such other day or days as the Management Company, with the consent of the Depositary, may determine and notify in advance to Shareholders, and the end of the Accounting Year. Valuation Frequency At least once a week. Subscription Day Any Valuation Day and/or such other days determined from time to time by the Management Company. Subscription Price Net Asset Value per Unit (subject to the Subscription Fee and applicable taxes, levies or charges) Subscription Deadline Until 14:00 (CET) on the Subscription Day. Subscription Payment Day Within two Settlement Days of the base currency of the particular unit class following the Subscription Day or such other days determined from time to time by the Management Company.
Unit Classes. As authorized in Section 4.2.A. of the Operating Partnership Agreement, the General Partner hereby causes the Partnership to issue two classes of Limited Partnership Interest, to be known and designated "Common Units" and "Series 1997-A Preferred Units" respectively (each of which may be divided into subclasses known as "Class A" and "Class B" Common Units or Preferred Units for the limited purposes of and as provided in Sections 4.2.C and 5.1 of the Operating Partnership Agreement). All Limited Partner Interests outstanding immediately prior to the first admission of the Contributors as provided in Section 2 of this First Amendment shall be Common Units; and there shall be issued the further number of Common Units to the Contributors and held by the Existing Members (after the distributions, admissions and withdrawals described in said Section 2) as determined pursuant to the Contribution Agreement and as evidenced by amendments to Exhibit A to the Operating Partnership Agreement from time to time. There shall also be issued as a part of the consideration provided for under the Contribution Agreement to the Contributors and held by the Existing Members (after the distributions, admissions and withdrawals described in said Section 2) 2,000,000 Series 1997-A Convertible Preferred Units. To the extent that the General Partner issues not more than 2,800,000 shares of its Series 1997-A Convertible Preferred Stock pursuant to a Stock Purchase Agreement dated as of December 5, 1997 among the General Partner, the Operating Partnership and Xxxxxxxxx Partners, L.L.C. (the "Preferred Stock Purchase Agreement"), the Partnership shall, consistent with the terms of the proviso to the first sentence of Section 4.2.A of the Operating Partnership Agreement, issue to the General Partner a like number (up to 2,800,000) of Series 1997-A Preferred Units. The respective rights of the Series 1997-A Preferred Units and of the Common Units are set forth on Exhibit C hereto.
Unit Classes. The Management Company may resolve to form several unit classes for each sub-fund. Unit classes may be established that for example differ from the existing unit classes in terms of the utilisation of profits, the issue premium, the reference currency and the utilisation of currency hedging transactions, the management remu- neration, the minimum investment sum or a combination of these characteristics. The rights of the Investors who have acquired units in existing unit classes shall however remain unaffected. The unit classes that are created in conjunction with each sub-fund, as well as the fees and remuneration associated with the units of the sub-fund, are specified in Appendix A "Overview of the sub-fund".
V. General investment principles and investment restrictions Art. 27 Investment policy
