Class I-2 Units definition

Class I-2 Units has the meaning set forth in Section 3.2(a).

Class I-2 Units means units of Investment’s class of capital interests known as Class I-2 units.

Examples of Class I-2 Units in a sentence

• Applications for subscriptions must be placed at the registered office of the Administrative Agent no later than 12 noon (Luxembourg time) three bank business days prior to the Valuation Day in order to be dealt with on the basis of the Net Asset Value per Unit (or Gross Net Asset Value for Class I2 Units) calculated for the Valuation Day of the relevant month.

• Unitholders whose applications for conversion are accepted will have their Units converted on the basis of the Net Asset Value per Unit (or Gross Net Asset Value for Class I2 Units) for the Valuation Day of the respective month provided that the applications have been placed at the registered office of the Administrative Agent not later than 12 noon, three business days prior to the respective Valuation Day.

• Applications for subscriptions must be placed at the registered office of the Administrative Agent no later than 12 noon (Luxembourg time) three Business Days prior to the Valuation Day in order to be dealt with on the basis of the Net Asset Value per Unit (or Gross Net Asset Valuefor Class I2 Units) calculated for the Valuation Day of the relevant month.

• Unitholders whose applications for conversion are accepted will have their Units converted on the basis of the Net Asset Value per Unit (or Gross Net Asset Value for Class I2 Units) for the Valuation Day of the respective month provided that the applications have been placed at the registered office of the Administrative Agent notlater than 12 noon, three Business Days prior to the respective Valuation Day.

• Notwithstanding the foregoing, for purposes of calculating the Special Allocation Amount, the Invested Capital Balance applicable to the Class I-1 Units, the Class I-2 Units, the Class I-3 Units, the Class I-4 Units and the Class I-5 Units shall be reduced by the amount of any distributions made to such units pursuant to clauses Second through (and including) Fifth under Section 6.1(b).

• Transfer students should consult with their coach and the faculty athletic representative before their first competition to determine their eligibility.

• The historical Class A Units, Class F Units, and Class I Units have been renamed Class A2 Units, Class F2 Units, and Class I2 Units respectively.

• Unitholders whose applications for conversion are accepted will have their Units converted on the basis of the Net Asset Value per Unit (or Gross Net Asset Value for Class I2 Units) for the Valuation Day of the respective month provided that the applications have been placed at the registered office of the Administrative Agent not later than 12 noon, three Business Days prior to the respective Valuation Day.

• The Fund Manager is entitled to an annual Management Fee equal to: • 1.80% of the Net Asset Value (i.e. 180 basis points) of the Class A Units and Class A2 Units; • 2.00% of the Net Asset Value (i.e. 200 basis points) of the Class F Units; • 1.50% of the Net Asset Value (i.e. 150 basis points) of the Class I Units and Class I2 Units, excluding (i.e. before deduction of) the Management Fee, as at the last Business Day of each calendar month, payable monthly in arrears out of the Fund Assets.

• The Fund Manager is entitled to an annual variable performance fee of (i) 20% of the Net Capital Appreciation during such year with respect to Class A Units and Class A2 Units; (ii) 20% of the Net Capital Appreciation during such year with respect to Class F Units; and (iii) 15% of the Net Capital Appreciation during such year with respect to Class I Units and Class I2 Units.