Class 2 Units definition

Class 2 Units. Class Z Branch Partners," "Class Z Midland Partners," "Additional Limited Partners," "Common Units," "General Partner Units" and "Percentage Interest" in the Partnership Agreement shall not be deemed to include the Series E Preferred Units. The terms "Limited Partnership Interest" and "Partnership Interest" shall be deemed to include the Series E Preferred Units.
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Class 2 Units means the Partnership Interest in the Partnership issued pursuant to Section 4.2 hereof to a Limited Partner other than an Original Limited Partner or the holders of the Class A Units. As provided in Section 5.2, the distribution rights of the Class 2 Units are subordinate to the distribution rights of the Original Limited Partnership Units and the Class A Units but senior to distribution rights of the Class B Units.
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Class 2 Units means the Partnership Interests issued in connection with the Partnership's acquisition of assets from Midland Development Group, Inc. and certain of its affiliated entities. Pursuant to this Third Amended and Restated Agreement of Limited Partnership of the Partnership, all Class 2 Units have been reclassified as Additional Units.
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Examples of Class 2 Units in a sentence

  • The Fund currently has five classes of Units: Class 1 Units, Class 2 Units, Class 3 Units, Class 4 Units, and Class 5 Units (collectively, the “Units”).

  • For indicative purposes, the spread, as at the date of this prospectus, was c6.7% for Class 1 Units and Class 2 Units.

  • However, in order to convert Class 1 or Class 2 Units, the holder of those Units must not have exercised the Put Right for such Units, as applicable.

  • Class 1 Units have the same priority as Class 2 Units and Class 3 Units (as described below) for sharing in any shortfall as set forth in Section 2.1.4.2(b)(1) of the Operating Agreement.

  • In addition, in order to convert your Class 2 Units, you must not have exercised your Class 2 Put Right.

  • Class 2 Units are substantially identical to Class 1 Units, except that: • Class 2 Units have a Class 2 Put Right in 2010, rather than in 2005 like the Class 1 Units’ Put Right.

  • The Class 2 Units are convertible by the holders of Class 2 Units as follows: • Into Class 3 Units at any time, provided the holder has not exercised the Class 2 Put Right.

  • Each of the Class 0 Units, Class 2 Units and the Management Unites were established and previously designated as Units in the Blended Strategies Portfolio.

  • By July 20, 2010, we are required to mail a notice to the holders of record of Class 2 Units informing them of the Exercise Price and the time in which holders of Class 2 Units must notify us of their election to exercise their Class 2 Put Right(s).

  • However, effective as of May 2, 2022, the Blended Strategies Portfolio is hereby redesignated as the Core Macro Portfolio, and such Class 0 Units, Class 2 Units and Management Units are accordingly redesignated as listed herein.

Related to Class 2 Units

  • Class B Units means the Class B Units of the Company.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class C Units means the Class C Units of the Company.

  • Common Units is defined in the Partnership Agreement.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • LTIP Units means a Partnership Unit which is designated as an LTIP Unit and which has the rights, preferences and other privileges designated in Section 4.6 and elsewhere in this Agreement in respect of holders of LTIP Units. The allocation of LTIP Units among the Partners shall be set forth in the Partner Registry, as it may be amended or restated from time to time.

  • Class C Shares means the shares of Class C common stock of the Company.

  • Class B Interests As set forth in the Trust Agreement.

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.

  • Subordinated Units has the meaning assigned to such term in the Partnership Agreement.

  • Class A Common Units means the Company's Class A Common Units.

  • Preferred Units means the Series A Preferred Units and the Series B Preferred Units.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Class B Stock means Class B Stock, par value $1.00 per share, of the Company.

  • Initial Units means, with respect to any Initial Limited Partner, the aggregate number of Class A Units owned by such Initial Limited Partner as of the date of this Agreement.

  • Series A Preferred Units has the meaning assigned to such term in Section 5.11(a).

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • Class B Warrants means the Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which Warrants shall be exercisable immediately and have a term of exercise equal to 5 years, in the form of Exhibit C attached hereto.

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • Series B Preferred Units shall have the meaning provided in Section 1.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Class A Stock means the Company's Class A Common Stock, par value $0.01 per share.

  • Class B Shares means the Class B ordinary Shares in the capital of the Company of $0.0001 nominal or par value designated as Class B Shares, and having the rights provided for in these Articles.

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.