Initial Units definition

Initial Units means, with respect to any Initial Limited Partner, the aggregate number of Class A Units owned by such Initial Limited Partner as of the date of this Agreement.

Initial Units has the meaning ascribed thereto in the first paragraph of this Agreement;

Initial Units shall have the meaning set forth in Section 2.1.

Examples of Initial Units in a sentence

• Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Subscriber, on the Initial Closing Date (as defined below) the Initial Units in consideration of the payment of the Purchase Price (as defined below).

• Immediately upon the forfeiture of any Initial Units, such Initial Units that have been so forfeited shall be cancelled.

• Upon the terms and subject to the conditions of this Agreement, Subscriber hereby agrees to purchase from the Company, and the Company hereby agrees to sell to Subscriber, on the Closing Date (as defined below) the Initial Units in consideration of the payment of the Initial Purchase Price (as defined below).

• The closing of the purchase and sale of the Initial Units shall take place simultaneously with the closing of the IPO and the closing of the purchase and sale of Additional Units shall take place simultaneously with the closing of the Over-Allotment Option (each a “Closing Date”).

• The closing of the purchase and sale of the Initial Units shall take place simultaneously with the closing of the IPO and the closing of the purchase and sale of Additional Units shall take place simultaneously with the closing of the Over-Allotment Option (each, a “Closing Date”).

More Definitions of Initial Units

Initial Units has the meaning given to it above;

Initial Units is defined in the recitals to this Agreement.

Initial Units means the Units sold in the Initial Offering.

Initial Units means the Units issued to each of the Initial Members at Closing, as adjusted by any adjustments pursuant to Section 2.03, Section 6.03 or Section 8.06 of the Contribution Agreement.

Initial Units means, as of the Initial Closing Date, all Units allocated to the Lease SUBI Portfolio as of the Initial Closing Date.

Initial Units means, with respect to any Initial Limited Partner, the aggregate number of Units owned by such Initial Limited Partner as of the date of this Agreement.

Initial Units means the Units allocated to the Policy which have been classified as Initial Units in accordance with Condition 6.