Class FA Shares definition
Examples of Class FA Shares in a sentence
Such capital call notice shall specify: (i) the amount of the capital call, (ii) the portion of the capital call amount to be paid by such subscriber, which will include the subscription amount and the number of Class FA Shares to be purchased by such subscriber, (iii) the date on which the capital call amount is due and (iv) the payee and the address to which to send the subscription proceeds.
Such subscribers will be required to fund a purchase of the Class FA Shares up to the amount of their respective capital commitments upon delivery of a notice in connection with the Initial Closing of the Private Placement.
Each subscriber for Class FA Shares will irrevocably commit to purchase its committed amount of Class FA Shares in the Initial Closing of the Private Placement.
The minimum offering requirement for Class FA Shares is $80,000,000.
The Company is initially authorized to issue up to 1,000,000,000 Shares, of which 950,000,000 Common Shares are designated as Class A Shares, Class D Shares, Class T Shares, Class I Shares and Class FA Shares, and 50,000,000 are designated as Preferred Shares (“Preferred Shares”).
During the Class FA Escrow Period, persons subscribing to purchase Class FA Shares will be instructed by the Company and the Distribution Participants to make checks for subscriptions payable to the order of “UMB Bank, N.A., as EA for CNL Strategic Capital, LLC” or any variation thereof permitting a deposit in the Escrow Account if accompanied by a corresponding subscription agreement.
The Escrow Agent agrees to cause the Processing Agent to maintain a written account of each subscription for the Class FA Shares, which account shall set forth, among other things, the following information: (i) the subscriber’s name and address, (ii) the number of Class FA Shares purchased by such subscriber, and (iii) the subscription amount paid by such subscriber for such Class FA Shares.
The Processing Agent will promptly deliver all monies received in good order from subscribers (or from the Distribution Participants transmitting monies and subscriptions from subscribers) for the payment of Class FA Shares to the Escrow Agent for deposit in the Escrow Account no later than the end of the business day on which such monies are received by the Processing Agent.
There are no selling commission or placement agent fee for the sale of Class FA Shares.
The Processing Agent will promptly deliver all monies received in good order from subscribers (or from the Distribution Participants transmitting monies and subscriptions from subscribers) for the payment of Class S and Class FA Shares to the Escrow Agent for deposit in the Escrow Account no later than the end of the business day on which such monies are received by the Processing Agent.