Class T Units definition

Class T Units means Class T units of the Operating Partnership.
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Class T Units means the traded Class T Units of the Fund;
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Class T Units and collectively, the “Common Units”) offered to the public in the primary offering (the “Primary Units”)1, and (ii) up to $200 million of Class A Units ($9.30 per unit) offered pursuant to the distribution reinvestment plan (the “DRIP Units” and, together with the Primary Units, the “Units”) commencing on the Effective Date (as defined below). Notwithstanding the foregoing, the Partnership has reserved the right to reallocate the Units between Class A Units and Class T Units and between the Primary Units and the DRIP Units. If the Partnership changes the offering price as described in a post-effective amendment, the per unit purchase price for the Primary Units and DRIP Units will vary and shall be equal to the applicable per unit price, solely with respect to the Primary Units, applicable Selling Commissions and Dealer Manager Fees, in each case to be paid pursuant to the Dealer Manager Agreement. Unless otherwise defined herein, capitalized terms used herein shall have the respective meanings therefor as in the Dealer Manager Agreement. In connection with the performance of the Dealer Manager’s obligations under Section 3 of the Dealer Manager Agreement, the Dealer Manager is authorized to retain the services of securities dealers (each a “Soliciting Dealer,” and collectively the “Soliciting Dealers”) who are members of the Financial Industry Regulatory Authority, Inc. (“FINRA”) to solicit subscriptions for Units in connection with the Offering. You are hereby invited to become a Soliciting Dealer and, as such, to use your best efforts to solicit subscribers for Units, in accordance with the following terms and conditions of this Soliciting Dealer Agreement (this “Agreement”). This Agreement shall become effective and binding with respect to the parties hereto on the date set forth on Soliciting Dealer’s signature page hereto.
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Examples of Class T Units in a sentence

  • Immediately before liquidation of the Partnership, Class T Units will automatically convert to Class I Units at the Class T Conversion Rate, Class S Units will automatically convert to Class I Units at the Class S Conversion Rate, Class D Units will automatically convert to Class I Units at the Class D Conversion Rate and Class E Units will automatically convert to Class I Units at the Class E Conversion Rate.

  • Immediately before liquidation of the Partnership, Class T Units will automatically convert to Class I Units at the Class T Conversion Rate and Class W Units will automatically convert to Class I Units at the Class W Conversion Rate.

  • The General Partner is hereby authorized to cause the Partnership to issue Partnership Units designated as Class T Units, Class S Units, Class D Units, Class I Units and Class E Units.

  • Immediately before liquidation of the Partnership, Class T Units will automatically convert to Class I Units at the Class T Conversion Rate, Class S Units will automatically convert to Class I Units at the Class S Conversion Rate and Class D Units will automatically convert to Class I Units at the Class D Conversion Rate.

  • The conversion of all or a portion of the Class T Units shall occur automatically after the close of business on the applicable date of conversion, as of which time the holder of Class T Units shall be credited on the books and records of the Partnership with the issuance as of the opening of business on the next day of the number of Class A Units issuable upon such conversion.

  • The General Partner is hereby authorized to cause the Partnership to issue Partnership Units designated as Class T Units, Class S Units, Class D Units and Class I Units.

  • For the purposes of the switch, we may waive in whole or in part the subscription fee for the new units and/or the Realisation Fee (if any).Other salient terms:• Switches will be at our discretion.• You may switch into Class B Units, Class T Units and Class Z Units of a Sub-Fund only with our prior written approval.

  • The Operating Partnership will pay the Adviser a management fee (the “OP Management Fee” and, together with the Company Management Fee, the “Management Fee”) equal to 1.25% of the NAV for the Class T Units, Class S Units, Class D Units and Class I Units attributable to Operating Partnership units held by unitholders other than the Company per annum, payable monthly, before giving effect to any accruals for the Management Fee or the Performance Allocation (as defined in the Operating Partnership Agreement).

  • For example, if the Partnership has Cash Available for Distribution of $1,000 after taking into account a distribution and stockholder servicing fee of $200 that is required to be borne entirely by the Partners holding Class T Units, Cash Available for Distribution shall be increased to $1,200 for purposes of this Section 5.1 and the amounts otherwise distributable to the Class T Units under this Section 5.1 shall be reduced by $200.

  • For example, if the Partnership incurs a distribution and shareholder servicing fee of $200 that is required to be borne entirely by the Partners holding Class T Units, the $200 servicing fee shall be specially allocated to the holders of Class T Units in proportion to their Class T Units.


More Definitions of Class T Units

Class T Units means the Class T Units of Pla-Fit as defined in the Existing LLC Agreement.
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Related to Class T Units

  • Class C Shares means Class C Shares in the Company as set forth in the relevant

  • Class A Shares means Class A ordinary shares, par value US$0.0001 per share, in the share capital of the Company.

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.

  • Class B Shares means the Class B ordinary Shares in the capital of the Company of $0.0001 nominal or par value designated as Class B Shares, and having the rights provided for in these Articles.