Class I Conversion Rate definition

Class I Conversion Rate is defined in Section 7.4(e).

Class I Conversion Rate means the fraction, the numerator of which is the Class I NAV Per Share and the denominator is the NAV Per Share of the class of Common Stock that the Class I share of Common Stock is being converted into.

Examples of Class I Conversion Rate in a sentence

• Upon the request of a stockholder in accordance with any multiple class plan adopted by the Corporation, the Corporation may, but is not required to, convert each Class S, Class T, Class D or Class I share of Common Stock held in such stockholder’s account into a number of shares of another class of Common Stock equal to the Class S Conversion Rate, Class T Conversion Rate, Class D Conversion Rate or Class I Conversion Rate, as applicable (each as defined below).

• Upon the request of a stockholder in accordance with any multiple class plan adopted by the Corporation, the Corporation may, but is not required to, convert each such Class I, Class D, Class S or Class T share of Common Stock held in such stockholder’s account into a number of shares of another class of Common Stock equal to the Class I Conversion Rate, Class D Conversion Rate, Class S Conversion Rate or Class T Conversion Rate (each as defined below), as applicable.