Class I Shares definition
Examples of Class I Shares in a sentence
Class I PCRs shall provide the Adviser the right to receive from the Company a number of Class I Shares equivalent to the number of Class I PCRs upon satisfaction of the performance conditions set forth in the Class I PCR Agreement.
The Adviser will have no registration rights with respect to the Adviser Class I Shares.
Adviser Class I Shares will not be subject to the repurchase limits of the Company’s share repurchase plan or any reduction or penalty for an early repurchase, provided that the approval of the Company’s independent directors is required for any repurchase request of the Adviser or the Sub-Adviser that, when combined with any stockholder repurchase requests submitted through the Company’s share repurchase plan, would cause the Company to exceed its monthly and quarterly repurchase limitations.
The Performance Fee shall be calculated based on the full Base Management Fee earned and regardless of whether the Adviser elects to receive such fee in cash, Class I Shares or Class I PCRs (defined below).
The Adviser may elect at a later date to have the Company repurchase some or all of the Class I Shares issued to the Adviser pursuant to this Agreement, including Class I Shares issued pursuant to any Class I PCRs or Class I RSUs (the “Adviser Class I Shares”) at a per share price equal to the then-current Class I Share transaction price.