Either Class definition

Either Class. A Units or Class B Units, at the election of the Managing General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, that all Partnership Units issued to Partners in connection with the Consolidation shall be Class A Units; and, provided further, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period (as defined in Section 5.1.C) in which such Class B Unit was issued, without the requirement for any action by either the Partnership or the Partner holding the Class B Unit.
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Either Class. A Units or Class B Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period (as defined in Section 5.1.C) in which such Class B Unit was issued, without the requirement for any action by either the Partnership or the Partner holding the Class B Unit.
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Either Class. A Units or Class B Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, that all Units issued to Partners on the -------- Closing Date shall be Class A Units; and, provided further, that any Unit that ---------------- is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period (as defined in Section 5.1.C) in which such Class B Unit was issued, without the requirement for any action by either the Partnership or the Partner holding the Class B Unit. Except as otherwise provided in this Agreement, holders of Class A Units and Class B Units shall be entitled to vote the Partnership Interests represented by such units on all matters as to which the vote or consent of the Partners is required.
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Examples of Either Class in a sentence

  • Non-standard Total Return 3 Years; Either Class Non-standard Total Return = Sub-account total return for the 3-year period ending on the last Valuation Period of the most recent calendar quarter.

  • Non-standard Total Return 1-Year; Either Class Non-standard Total Return = Sub-account total return for the year ending on the last Valuation Period of the most recent calendar quarter.

  • Either Class A Units or Class B Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit.

  • Non-standard Total Return Inception-to-date; Either Class Non-standard Total Return = Sub-account total return for the period beginning on the date operations commenced for the applicable underlying mutual fund and ending on the last Valuation Period of the most recent calendar quarter.


More Definitions of Either Class

Either Class. A Units or Class B Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period (as defined in Section 5.1.C) in which such Class B Unit was issued, without the requirement for any action by either the Partnership or the Partner holding the Class B Unit. At such time as the Partnership has issued Preferred Units, there shall also be two subclasses of each class or series of Preferred Units designated "Class A Preferred Units" and "Class B Preferred Units" (or such other designation as the General Partner may determine) in order to provide for the respective distributions as between holders of the Units of such class or series of Preferred Units who have held such Units for less than the full Distribution Period relating to such class or series in a manner consistent with the allocation of distributions made pursuant to Section 5.1 hereof among holders of Limited Partner Units that are not Preferred Partnership Units.
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Related to Either Class

  • Class” or “Classes means any class or classes of Shares as may from time to time be issued by the Company;

  • Senior Class means (a) with respect to the Class B Notes, the Class A Notes and (b) with respect to the Class C Notes, the Class A Notes and the Class B Notes.

  • Classes The Offered Certificates shall be issued with the following Class designations, interest rates and principal balances, subject in the aggregate to the variance referred to in Section 1(a)[and, as to any particular Class, to an upward or downward variance of up to [ ]%]: Principal Interest Class Purchase Class Balance Rate Price Percentage ----- ------- ---- ----------------

  • Voting Classes means Classes 4 and 5.

  • Junior Class of Certificates The Class of Subordinate Certificates outstanding as of the date of the repurchase of a Mortgage Loan pursuant to Section 4.07 herein that has the Lowest Priority.

  • Related Classes As to any Uncertificated REMIC I Regular Interest, those classes of Certificates identified as "Related Classes of Certificates" to such Uncertificated REMIC I Regular Interest in the definition of Uncertificated REMIC I Regular Interest.

  • Support Classes As specified in the Preliminary Statement.

  • Scheduled Classes As specified in the Preliminary Statement.

  • Class when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans or Swingline Loans.

  • participating class means a class of shares title to which is permitted by an Operator to be transferred by means of a relevant system;

  • Senior Class Debt has the meaning assigned to such term in Section 8.09.

  • Original Class B-3 Percentage The Class B-3 Percentage as of the Cut-Off Date, as set forth in Section 11.10.

  • Corresponding Classes of Certificates With respect to each REMIC Regular Interest, any Class of Certificates appearing opposite such REMIC Regular Interest in Section 1.03 hereof.

  • Class HI B-2 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: B-2 Formula Distribution Amount" and (b) the Unpaid Class HI: B-2 Interest Shortfall, if any.

  • Additional Senior Class Debt has the meaning assigned to such term in Section 5.13.

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

  • Restricted Classes As defined in Section 4.02(e).

  • Classes of Certificates Each of the Class A and Class B Certificates will consist of one or more classes with the prior consent of Wells Fargo Asset Securities Xxxxoration (the "Seller"), which consent shall not be unreasonably withheld. Aggregate Principal Amount $ ___________(Approximate) of the Offered Certificates: Certificates Not Offered Hereby: The Class B-4, Class B-5 and Class B-6 Certificates (the "Other Certificates").

  • Original Class B-1 Percentage The Class B-1 Percentage as of the Cut-Off Date, as set forth in Section 11.08.

  • Original Class B-2 Percentage The Class B-2 Percentage as of the Cut-Off Date, as set forth in Section 11.09.

  • Tranches shall have the meaning ascribed to such term in Section 2.1.