Examples of Designated Class in a sentence
Any rights, preferences, qualifications, limitations and restrictions with respect to Classes generally that are set forth in the Declaration shall apply to the Designated Class unless otherwise specified in the Registration Statement, in which case those specified in the Registration Statement shall control.
The Designated Class shall have the relative rights, preferences and characteristics described in the Declaration and the Trust’s then currently effective registration statement under the Securities Act of 1933, as amended (the “Registration Statement”), relating to the Designated Class.
The Designated Class shall have the relative rights, preferences and characteristics described in the Declaration and the Trust’s then currently effective registration statement under the Securities Act of 1933, as amended (the “Registration Statement”), relating to the Designated Class .
Unless the context otherwise requires, the term "Shares" includes Designated Class Shares.
To the extent that any reserve maintained out of the proceeds of repurchase of a Shareholder's non-Designated Class Shares is not applied in full in settlement of the relevant portion of management fees and expenses attributable to the Shareholder's corresponding Designated Class Shares, such excess shall be paid to the Shareholder as soon as practicable following the Disposition of the relevant Designated Investment.
This exchange of Shares for Designated Class Shares will be at the Net Asset Value per Share of the relevant Class as at the Valuation Point immediately preceding the designation of the investment as a Designated Investment, or at such other date as the Directors reasonably determine.
Except where a Shareholder has redeemed all of its non- Designated Class Shares prior to the Disposition of the relevant Designated Investment and unless (a) the Prospectus provides otherwise (b) otherwise determined by the Directors, each Shareholder will receive its proceeds by way of the issue of additional non-Designated Class Shares out of the original Class from which they were initially converted, without the requirement for any notice to be served on such Shareholders.
The Directors may, in their sole discretion, redeem Designated Class Shares in cash, in-kind or partially in- kind prior to the Disposition of the relevant Designated Investment (including through an in- kind distribution of an equity interest in one or more special purpose vehicles which may have been created to hold such Designated Investment).
On any Distribution Date on or after the Initial Optional Termination Date, the Holders of a majority in Percentage Interests of the Designated Class may purchase the Certificates of all other Classes by depositing with the Paying Agent on the preceding Master Servicer Remittance Date an amount equal to the Certificate Principal Balance of such Certificates on such Distribution Date plus interest thereon to such Distribution Date.
Likewise, upon the Disposition of such Designated Investment, the associated Designated Class Shares held by such Shareholders will be converted to Shares of the original Class from which they were initially converted by way of a compulsory repurchase and reissue or otherwise directly redeemed, in each case, as further described below.