Class I Common Shares definition

Class I Common Shares shall have the meaning set forth in the Charter.

Class I Common Shares shall have the meaning set forth in the Declaration of Trust.

Class I Common Shares means Class I Common Shares of the Trust.

Examples of Class I Common Shares in a sentence

• The Adviser will have the option of exchanging Class E Common Shares or Class I Common Shares for an equivalent aggregate NAV amount of Class T Common Shares, Class S Common Shares or Class D Common Shares.

• Immediately before any liquidation, dissolution or winding up, or any distribution of the assets of the Corporation pursuant to a plan of liquidation, dissolution or winding up, Class T Common Shares will automatically convert to Class I Common Shares at the Class T Conversion Rate, Class S Common Shares will automatically convert to Class I Common Shares at the Class S Conversion Rate and Class D Common Shares will automatically convert to Class I Common Shares at the Class D Conversion Rate.

• The Operating Partnership will repurchase any such Operating Partnership units for cash unless the Board determines that any such repurchase for cash would be prohibited by applicable law or the Charter, in which case such Operating Partnership units will be repurchased, at the Adviser’s election, for the Company’s Class I Common Shares or Class E Common Shares with an equivalent aggregate NAV.

• The Operating Partnership will repurchase any such Operating Partnership units for cash unless the Board determines that any such repurchase for cash would be prohibited by applicable law or the Charter, in which case such Operating Partnership units will be repurchased for the Company’s Class I Common Shares with an equivalent aggregate NAV.

• Except as otherwise set forth in the Charter, the Class A Common Shares, Class T Common Shares and Class I Common Shares shall have identical preferences, rights, voting powers, restrictions, limitations as to dividends and other Distributions, qualifications, and terms and conditions of redemption.

• If the Adviser elects to receive any portion of its Management Fee in Class E Common Shares, Class I Common Shares, Class I Units, or Class E Units, the Adviser may elect to have the Company or the Operating Partnership repurchase such Class E Common Shares, Class I Common Shares, Class E Units or Class I Units from the Adviser at a later date.

• Class E Common Shares, Class I Common Shares, Class E Units, and Class I Units obtained by the Adviser will not be subject to the repurchase limits of the Company’s share repurchase plan or any reduction or penalty for an early repurchase.

• Immediately before any voluntary or involuntary liquidation, dissolution or winding up, or any Distribution of the assets of the Corporation pursuant to a plan of liquidation, dissolution or winding up, Class S Common Shares will automatically be converted to Class I Common Shares at the Class S Conversion Rate, and Class D Common Shares will automatically be converted to Class I Common Shares at the Class D Conversion Rate.

• Subject to certain individual state requirements and except with respect to the issuance of Common Shares under the Reinvestment Plan, no initial sale or transfer of Class S Common Shares, Class D Common Shares, Class F-S Common Shares or Class F-D Common Shares for value of less than $2,500 or Class I Common Shares or Class F-I Common Shares for value of less than $1,000,000, or such other amounts as determined by the Board, will be permitted.

• Class I Common Shares and Class I units of the Operating Partnership obtained by the Adviser will not be subject to the repurchase limits of the Company’s share repurchase plan or any reduction or penalty for an early repurchase.

More Definitions of Class I Common Shares

Class I Common Shares shall have the meaning as provided in Section 5.1 herein.

Class I Common Shares shall have the meaning ascribed to such term in the preamble hereto.

Class I Common Shares shall have the meaning set forth in the Charter. “Class S Common Shares” shall have the meaning set forth in the Charter. “Class T Common Shares” shall have the meaning set forth in the Charter. “Code” shall mean the Internal Revenue Code of 1986, as amended. “Commencement Date” shall mean the date on which the Company breaks escrow for its initial Offering. “Company” shall have the meaning set forth in the preamble of this Agreement. “Company Management Fee” shall have the meaning set forth in Section 10(a). “Director” shall mean a member of the Board. “Distributions” shall have the meaning set forth in the Charter. “Effective Date” shall have the meaning set forth in the preamble of this Agreement. “Excess Amount” shall have the meaning set forth in Section 13. “Exchange Act” shall have the meaning set forth in the Charter. “Expense Year” shall have the meaning set forth in Section 13. “GAAP” shall mean generally accepted accounting principles as in effect in the United States of America from time to time. “Gross Proceeds” shall mean the aggregate purchase price of all Shares sold for the account of the Company through an Offering, without deduction for Selling Commissions. The purchase price of any Class T Common Share or Class S Common Share shall be deemed to be the full, non-discounted offering price at the time of purchase of each such Class T Common Share or Class S Common Share.

Class I Common Shares shall have the meaning set forth in the Charter. “Class I NAV per Share” shall have the meaning set forth in the Charter. “Class S Common Shares” shall have the meaning set forth in the Charter. “Class S NAV per Share” shall have the meaning set forth in the Charter. “Class S-1 Common Shares” shall have the meaning set forth in the Charter. “Class S-1 NAV per Share” shall have the meaning set forth in the Charter. “Code” shall mean the Internal Revenue Code of 1986, as amended. “Commitment Fee” shall have the meaning set forth in Section 10(e).