Class J Unit definition

Class J Unit. The Partnership Interest held by the Class J Limited Partner, each full Class J Unit representing a $250,000 Capital Contribution.
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Class J Unit means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners and Assignees, and having the rights and obligations specified with respect to Class J Units in this Agreement.
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Class J Unit means a Partnership Unit entitling the holder thereof to the rights of a holder of a Class J Unit as provided in this Agreement.
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Examples of Class J Unit in a sentence

  • Subject to Section 2.4, each Class J Unit (as defined herein) issued and outstanding as of immediately prior to the Effective Time shall be converted into a unit representing a limited partner interest in SXL (an “SXL Class J Unit”), which constitutes a share of a new class of units in SXL containing provisions substantially equivalent to the provisions set forth in Section 5.15 of the ETP Partnership Agreement, all as set forth in the Amended SXL Partnership Agreement.

  • The Partnership shall not maintain a separate Capital Account for a Class J Unit.

  • Each Class J Unit shall expire for no consideration on December 31st of the calendar year in which the effective date of the issuance of the Class J Unit occurred.

  • With respect to any matter on which the Class J Units are entitled to vote, each Class J Unit will be entitled to one vote on such matter.

  • Each Class E Unit of ETP, each Class G Unit of ETP, each Class I Unit of ETP, each Class J Unit of ETP and each Class K Unit of ETP, if any, issued and outstanding or deemed issued and outstanding as of immediately prior to the effective time of the Merger will be converted into the right to receive a corresponding unit in SXL with the same rights, preferences, privileges, powers, duties and obligations as such existing ETP unit had immediately prior to the Merger.

  • All allocations made pursuant to Section 5.14(b)(ii) shall adjust the existing Capital Account of the holder of the Class J Unit and, in the case of the General Partner, shall adjust solely the Capital Account maintained in respect of the General Partner’s Incentive Distribution Right.

  • The allocation of items pursuant to this Section 5.14(b)(ii)(B) with respect to each Class J Unit shall be made proportionately over the calendar year or such portion thereof beginning on the effective date of the issuance of such Class J Unit and ending on December 31st of such calendar year.

  • The Percentage Interest with respect to an Incentive Distribution Right, a Class I Unit, a Class J Unit, a Class K Unit, a Series A Preferred Unit, a Series B Preferred Unit and a Series C Preferred Unit shall at all times be zero.

  • All allocations made pursuant to Section 5.15(b)(ii) shall adjust the existing Capital Account of the holder of the Class J Unit and, in the case of the General Partner, shall adjust solely the Capital Account maintained in respect of the General Partner’s Incentive Distribution Right.

  • The allocation of items pursuant to this Section 5.15(b)(ii)(B) with respect to each Class J Unit shall be made proportionately over the calendar year or such portion thereof beginning on the effective date of the issuance of such Class J Unit and ending on December 31st of such calendar year.


More Definitions of Class J Unit

Class J Unit means a Class J Unit of the Fund which may be purchased by investors who are enrolled in a dealer sponsored fee-for-service or “wrap” program at Industrial Alliance and who are subject to an annual asset-based fee.“Class Net Asset Value”means the portion of the Net Asset Value attributable to each of the Classes of Units calculated as described under “Valuation”.“Class Net Asset Value per Unit”means the Net Asset Value attributable to each Unit of a Class calculated as described under “Valuation”. “CRA” means the Canada Revenue Agency.“Credit Advisors”means a number of specialist loan originators and managers of credit pools.“Custodian Agreement”means the agreement entered into for custodial services with RBC Investor Services Trust located in Toronto, Ontario, dated May 7, 2016, as may be amended from time to time.“ETFs”means Exchange Traded Funds, which the Fund may invest in to provide returns to an underlying benchmark.“Fund”means Next Edge Private Debt Fund.“General Partner”means Next Edge General Partner (Ontario) Inc.“HST”means Harmonized Sales Tax which combines the respective provincial sales tax with the federal goods and services tax.“Hurdle Rate”means a return of 6%.“Incentive Allocation”means allocations from the Partnership to the General Partner equal to a percentage of net new profits above the Hurdle Rate.“Information”means a purchaser of Units name and other specified personally identifiable information that the purchaser of Units acknowledges that the Fund and its respective agents and advisers may each collect, and disclose, including the amount of the Units that it has purchased for purposes of meeting legal, regulatory and audit requirements and as otherwise permitted or required by law or regulation.“Initial Limited Partner”means the Sub Trust“Institutional Investor”means an organization whose primary purpose is to invest its own assets or those held in trust by it for others, which includes pension funds, investment companies, insurance companies, universities and banks, and is subject to a minimum initial investment in the Fund of $10 million, or such other amount as the Manager may accept.“Investment Application”means the subscription booklet, investment application forms and any ancillary agreements required to be completed for a purchase of Units, in the form prescribed by the Manager from time to time.“LCC”means Liquid Capital Corporation; the primary Credit Advisor to the Fund.
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Class J Unit means a Class J Unit of the Fund which may be purchased by investors who are enrolled in a dealer sponsored fee-for-service or “wrap” program at Industrial Alliance and who are subject to an annual asset-based fee.“Class Net Asset Value”means the portion of the Net Asset Value attributable to each of the Classes of Units calculated as described under “Valuation”.“Class Net Asset Value per Unit”means the Net Asset Value attributable to each Unit of a Class calculated as described under “Valuation”.“Clients”means the approximately 300 clients which LCC and its Network currently service. The Clients receive trade financing from LCC based primarily on the credit quality of the Clients’ customers, rather than (uniquely) their own credit, particularly as defined by their own balance sheets. These Clients are generally companies that have A/R in excess of their ability to support conventional bank financing using only their own balance sheets, and/or have market opportunities for growth beyond that which can be supported by their own balance sheets.“CRA”means the Canada Revenue Agency.“Credit Managers”means a number of specialist loan originators and managers of credit pools.“Custodian Agreement”means the agreement entered into for custodial services with RBC Investor Services Trust located in Toronto, Ontario, dated May 7, 2016, as may be amended from time to time.“Customers”means the approximately 3,000 Customers of the Clients. It is these Customers that provide repayment of the funds that LCC advances to finance factored invoices and PO’s provided by the Clients. The factored invoices and PO’s are assigned to LCC, which manages the trade finance transaction, so that it receives repayment directly from the Customer.“ETFs”means Exchange Traded Funds, which the Fund may invest in to provide returns to an underlying benchmark.“Franchisees”means the Liquid Capital Franchisees who enter into a license agreement with either Liquid Capital of America Corp. (if the franchisee is located in the United State) or Liquid Capital Canada Corp. (if the franchisee is located in Canada). The license agreement grants a franchisee the right to operate the factoring business.“Fund”means Next Edge Private Debt Fund.“General Partner”means Next Edge General Partner (Ontario) Inc.“HST”means Harmonized Sales Tax which combines the respective provincial sales tax with the federal goods and services tax.“Hurdle Rate”means a return of 6%.“Incentive Allocation”means allocations from the P...
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Related to Class J Unit

  • Class A Unit means any Partnership Unit that is not specifically designated by the General Partner as being of another specified class of Partnership Units.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class H designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class D Unit means a Partnership Unit entitling the holder thereof to the rights of a holder of a Class D Unit as provided in this Agreement.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Class C Unit means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners and Assignees, and having the rights and obligations specified with respect to the Class C Units in this Agreement. The term “Class C Unit” does not refer to a Common Unit until such Class C Unit has converted into a Common Unit pursuant to the terms hereof.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Class A Share means a Class A ordinary share of a par value of US$0.0001 in the share capital of the Company.

  • Class B Interests As set forth in the Trust Agreement.

  • Class C Class D," "Class E," "Class F," "Class G," "Class H," "Class J," "Class K," "Class L," "Class M," "Class N," "Class O," "Class R-I," "Class R-II" and "Class R-III" respectively, on the face thereof, in substantially the form attached hereto as Exhibits.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class HI M-1 Formula Interest Distribution Amount" means, as to any Payment Date, the sum of (a) the amount specified in clause (a) of the definition of the term "Class HI: M-1 Formula Distribution Amount" and (b) the Unpaid Class HI: M-1 Interest Shortfall, if any.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Class B Share means a Class B ordinary share of a par value of US$0.0001 in the share capital of the Company.

  • Subordinated Unit means a Limited Partner Interest having the rights and obligations specified with respect to Subordinated Units in this Agreement. The term “Subordinated Unit” does not include a Common Unit. A Subordinated Unit that is convertible into a Common Unit shall not constitute a Common Unit until such conversion occurs.

  • Class D Class E," "Class F," "Class G," "Class H," "Class J," "Class K," "Class L," "Class M," "Class N," "Class O," "Class P," "Class R-I," "Class R-II" and "Class R-III" respectively, on the face thereof, in substantially the form attached hereto as Exhibits.

  • Class B Class C," "Class D," "Class E," "Class F," "Class G," "Class H," "Class J," "Class K," "Class L," "Class M," "Class N," "Class O," "Class R-I," "Class R-II" and "Class R-III" respectively, on the face thereof, in substantially the form attached hereto as Exhibits.

  • Class C Monthly Interest is defined in Section 4.1(c).

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Class P Fraction Any Class I-P, Class II-P or Class III-P Fraction, as applicable.